IHS Trustee’s Annual Report for the fnancial year to the 31st of October 2025.
This was another difficult year as the ongoing cost of living crisis continued to make life very difficult for the charity. As it became increasing apparent that the attendance at retreats was being severely affected, the trustees decided to shelve the events programme in order to be able to concentrate more rapidly on business development, because we did not have the capacity to do both simultaneously.
Accommodation trading continued bring income throughout this period, and was pretty much at a similar level to the year before. Although a fall is reflected in the draft accounts, this relates to the VAT position, which will be reported on more fully later in this report.
Membership was 47 people in the year, including Life Members. This was down from 51 from the previous year, showing a continuing trend of decline.
Business development. This constituted the main activity for the year. Work continued on improving the infrastructure of Tan-y-Garth Hall to enable business development. In particular car parking, and the creation of new hard standing area extending the existing area to make room for a storage unit. The unit intended was not brought to fruition in the end because it proved impossible to move it. Even though it had been donated, due to alterations made whilst moving it previously it could not be moved without its structure collapsing. The other groundworks undertaken extended to a complete relaying of the driveway, with MOT type 1 granite stone. In total, 220 tons of were laid and overhanging trees were cut back to four metres high to allow access for large heavy goods vehicles.
External water supplies and taps were fitted in multiple locations and trellising was added to the former knot garden. Massive work was done in terms of building up the wood supply ahead of the intention to, switch to this as a key source of fuel to give us fuel independence for the Hall.
Another section of the roof, particularly above bedroom 4, was given substantial attention. Significantly, the first of the two glamping units, (which we refer to as Mobies), was set up, both having been purchased under an outline agreement reached with Derek Murray, for a joint venture with an equal profit share for the charity.
Significantly, the work on flipping the hall, moving the use of bedrooms around, began, and this was commenced with the complete facelift of the bathroom and toilet on the second floor.
There was also considerable work done externally, extending links to the Findhorn community in Scotland and Sa ye Ling Tibetan Monastery, both of which were visited with Findhorn people reciprocating. During a visit by the Secretary to Amsterdam, a yoga centre there was contacted with a view to developing a long-term relationship to provide a multi-centre retreat for the North American market coming to Europe
The Trustees met a total of six times throughout the year with the make up of the Council changing significantly. These included the presiding Chairman Christian Hanchug retiring for personal reasons, along with Jeanette Pickin, who also retired for personal reasons. As a result of Jeanette's retirement, the library project faltered, and that's a cause of concern going forward because of the large number of books in the Hall which it was necessary to remove from the building temporarily into external storage. The presiding
secretary, Derek Murray stepped down as a trustee on advice from our solicitors due to the conflict of interest that arose from him lending the charity substantial sums of money for business development purposes.
The incoming trustees were Leeon Wong, who returned as chairman and Sarah Goode, who also returned in the capacity of a trustee, and later in the year, Steve Whittard, who had been a previous trustee, also returned to serve again.
In respect to administration. The financial officer and bookkeeping function was outsourced to our accountants who were changed to Bowden Accounting Services based in Manchester. Although this had certain benefits, it has proved to be more problematic than envisaged, largely related to the functions of QuickBooks online accounting software and the difficulty in adapting it to suit our purpose.
On the personnel front, the significant development in the year was the retirement of Janet Norwood, the residential household manager for the previous five years. Janet moved out in August 2025 (ahead of complete retirement in February 2026). This was, a significant event because Janet has made an enormous contribution, which is widely acknowledged by the trustees and all those that use the Hall. Our sincere thanks go to her for the tremendous work that she has contributed to the charity. Derek Murray also gave notice that the coming year would be the last year where he would continue in the function of secretary and acting up as treasurer. The trustees are mindful of finding suitable replacements. Derek has committed to continue in his residential capacity and develop a new role but will continue to function in his existing capacity until a suitable replacement is found.
Draft accounts prepared by the accountants, income for the year.
Donations and Legacies, consisting of donations, grants, and membership. These were up overall from £6,192 to £7,556. However, donations were down from £3,878 to £1,329.
Membership was down from £2,314 to £1,227, however, a grant of £5,000 from the Freeman family Trust offset other reductions in income. Membership was down in numbers from 51 to 47. No new life members accounted for the main drop in income. In respect of income from charitable activity, accommodation income was down from £27,627 to £22,561. However, this did not reflect a fall off in business, but rather the difference of being registered for VAT made.
The vet registration did not actually work out to being as much in our advantage as we had originally conceived due to certain interpretations of the VAT rules by the vat man that differed from the advice we had received. For this reason and the delay in establishing the proposed trading subsidiary, some of the accommodation income became liable for VAT and this accounts for the difference.
Due to the suspension of the events programme in order to focus on the business development activity, there was only one course in the year, which was the signature retreat as this is a central part of the business development planning process. This was a successful event that netted £1,735 pounds. But of course, against the course income of the previous year, £9,702, there was a significant, albeit planned reduction.
Tapes and publications were up from £726 to £1,355, Although this is the figure in the draft accounts that needs further investigation.
In terms of expenditure, under chargeable activity costs, significant amounts of money were spent on equipment , this included, scaffolding to extend our existing stock kit, a garden shed, and the materials for hose pipes, etc, as part of the infrastructure developments.
Freelancers expenditure was up due to the outsourcing of the finance office functions, but also because we added Daniel Sudlow on a freelance part time basis to help with business development, in particular, our expanding accommodation business.
Insurance costs were up significantly due to the addition of the glamping units. But this money, obviously, will be recouped over time, with more besides, from the revenues which will be eventually generated from them.
Council tax, was up significantly again and nothing could be done about it.
Repairs and maintenance, included some elective items, e.g. roof repairs and some of the driveways related groundworks. The driveway works themselves are maybe included in those costs, but again, this needs to be looked at in detail with the accountants before the final accounts are accepted by the trustees.
Utilities were down.This was largely due to oil usage and the fact we weren't running retreats as we were able to save a bit on the oil.
Volunteers' expenses were up, but this was really a significant saving under Car Operating Costs because, we were unable to run our own vehicle during this period, and we had to rely on using Derek Murray's camper van for the day to day running of the hall, when our car became un-economic to repair. We will be replacing it in the coming year.
Significant cost of legal fees due to advice, sought ahead of last year's AGM.
Loan interest costs. They figure under loan interest represents interest paid to Derek Murray in respect of one of the loans that he has extended to the charity. He's extended several other loans on a short term basis, which now need reviewing as these were interest free loans. The situation was slightly complicated by the change of trustees, and in particular, a change of Chair, which meant that some of the arrangements regarding short term loans, have yet to be resolved in respect of being added to the long term loan. This is not a problem from the charity’s point of view, as the loans are interest free and form part of an £100,000 loan facility that D.M previously agreed with the trustees for capital developments, pathing the way to investment from other sources.
Overall , the draft accounts show a loss of £21,965 on the year. This most likely includes some historical write off of VAT we were expecting to recoup against capital costs that has not proved possible. Our accountants advise that's had to be written off as it was previously shown as income on the previous years accounts. So this figure needs to be clarified with the accountants as to exactly where those write-off amounts are shown. For now, it's assumed that it's part of this £21,965 loss. We know that £8,000 of that was the result of the decision to run no retreat programmes in the year. Four to five thousand pounds was most likely to do with the unintended VAT liability, although some £5,500 of
that was later recouped, having a neutral nett effect. Then there was about £10,000 or £11,000 to infrastructure investment.
That meant a net movement in funds of nearly £22,000, down from, £742,994 pounds to £721,029 pounds. It's worth noting that this needs to be set in context as it is well within the parameters set in the strategic plan from the beginning of the whole current business development process. The plan being to use the strength of the balance sheet to finance the development of the building up to one third of the equity value of the whole. The current book value being about three quarters of a million pounds, making the equity risk ceiling nominally £250,000 based a property valuation from five years ago.
This loss is less than 10% of the ceiling that the trustees have allowed themselves to work within. We should also further note on the balance sheet, in terms of tangible fixed assets, that motor vehicles shown at £610 will be written off in this year.
The balance sheet currently stands at a total of £773,000 pounds. The difference between this and the previous figure is accounted for by the fact that £11,318 is shown as being put into the building. This is actually both underpinning the value of the building, and in fact, helping it to appreciate. There's been no net loss of total assets since the beginning of the strategic plan from seven years ago. What we are doing remains productive and consistent with our long-term strategy, that is to make use of the balance sheet to develop the Hall for up to one third of its value. So far we have maintained the value of the asset, despite disposing of peripheral items of land, whilst putting money back into the building. The net worth of the charity is therefore actually going upon despite these and other paper losses. The other significant note on the year was that the loan from Paul Richards of £15,000, given just before COVID lockdown, was repaid in full
There are further questions and clarifications required that arise from the draft accounts, and the trustees will be seeking these from the accountants before they are finalised and signed off.
In conclusion, the trustees can report that “it’s businesses as usual”, despite the challenges that have continue to be thrown up. In these very challenging times we continue to find the solutions as the need arises. However, most critically, we've not yet met the challenge of finding enough of the new, right people, we need. In particular, for running and maintenance of the hall, and secondarily in terms of the separate structures needed to establish and manage the intended trading subsidiary as well as the charity.
The key roles identified that need addressing are; a maintenance and repair manager, a housekeeper, somebody to look after gardens and grounds maintenance, a treasurer, and a secretary. It's also widely acknowledged that, it's not possible for Derek Murray to continue to cover all of these roles without somebody else coming into help him.
Despite all of the difficulties that have been faced and overcome and those that remain, the trustees are confident that after a period of stabilisation following the recent churn of trustees and Chair, the strategic goals set out from the beginning of this process some 8 years ago now, remain achievable, and we remain confident that we are progressively progressing towards attaining them despite six years of unfavourable headwinds.
THE INTERNATIONAL HERMENEUTIC SOCIETY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025 Note Unrestricted Funds Restricted Funds Total Funds Total Funds 2025 2024 Income from.. Donations and Legacies Charitable Adivities 3a 3b 7.556 25,651 214 7,556 25,651 214 6,192 38,055 380 Activrties for Generating Funds Othei Incoming Resources Total Income 3c 3d 183 183 416 33,604 33,604 45.043 Expenditure on.. Charitable Activities 53,589 1,980 55,569 53,589 1,980 55,569 46,560 1,850 48,410 Governance Costs 4b Total Expanditurè Net Movement In Funds 121,9651 121,9651 13,36n Reconclllatlon of Funds.. Total Funds Brought Forward Profit on Disposal Of Fixed Assets Transfer Behveen Funds Net Movement in Funds 742,994 742,994 746,361 I21,5) 721,029 121,9651 721,029 13,3671 742.994 Total Funds Carried Forward The notes form part of these financial statements
THE INTERNATIONAL HERMENEUTIC SOCIETY BALANCE SHEET AS AT 31 OCTOBER 2025 Note Unrestricted Funds Restricted Funds Total Fund# 2025 Total Funds 2024 Fixed Assèts Tangible Fixed Assets Investments 784.964 784,964 773.170 Total Fixed Assets 784.964 784,964 773.170 Current Assets Debtors 8 Prepayments Cash at Bank and in Hand 6,893 2.144 6.893 2.144 6,552 9,180 9,037 9,037 15,731 Creditors.. Amounts Due wlhin One Year 52,972 S2,972 10,907 Net Current A8¥et 143,9351 143.9351 4,824 Totsl Assets less Current Liabilitie8 741.029 741,029 777,994 Creditors: Long Temi Liabilities 10 20,(X)O 20.000 35,000 Net Assets 721.029 721,029 742,994 Charity Funds General Funds Restricted Funds 721,029 721.029 742,994 Total funds 721.029 721,029 742.994 The finanual ststements were approved by Board of Trustees and authorised lor issue on . were signed on its behalf by.. and Derek Murray Seeretary The notes form part of these financial statements
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 1 Accountlng Pollc168 BHsi¥ of Preparation & A$5es5ment of Going Concern Basi5 of Preparation The financial statements have been prepared under the htOriCal c05t convention with items recognised at cost ortransaclion value unless otherwise slated in the relevanl notelsl lo Ihese accounts. The financial 51aternenls have been prepared in acCOr(lan with the Slaternenl of ReGornmended PraGliGe AcGounling and Reporting by Chanlies ISORP 20151 (Second Edition. effective 1st January 20191. the Financial Reporting Standard applicable in th& UK and Republic of Ireland IFRS1021 and the Charities Act 2011. The ChariLy meets the definition of a public benefit 8nlity under FRS102. Ass&ls and liabilities are initially recognised at historical cost unkss OtheiSe slated in the relevant accounting policy notes. Ass8ssm8nt of Going Concern Preparation of the accounts on a going concem basis. Th& Imstees ConSer that there are no material uncertaint*$ about the Charty's 8biliLy lo continue as a going concern. Incoming Re50urce5 Reco nltlon of Incomln Where incoming resources have re181ed Èxp8ndilure las vAlh fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA. Resources Grants and Donations Grants and Donations a tsnly in¢luded in the SOFA when the Charity ha5 un¢ontlilional entitlement lo the resour¢e$. Tax Reclaims on Donations and Gift5 Incoming resources from tax reclaims are included in the SOFA at thè same lime as the gift to whith they relate. Conlractual Income and Perf0rn7<7nce Related Grants This 1$ only induded in th& SOFA on¢e the lated good$ or $ervi¢es have been delivered. Gifts in Kind Gifts in kind are a¢counted for at è reasonab estimate of their value10 the Chèrty or the atnount a¢lually realised. Gffts in kind for sale or distribution are Included in the accounts as gifts onty when sold ordistribuled by the Charity Gifts in kind for use by the Charty are included In the SOFA as incoming resourc8s when rec8niable. Donated Setvlces and Facllllles These are only included In incoming resources (with sn equivalent amount in resource5 expended) where the benefit lo the Charity is reasonably quantifiable. rneasurable and m8teri81. The value pla on these resoufces Is the estimated value to the Charity of the serviGe or faGility received. The value of any voluntary help receiv8d is not included in the accounts.
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 1 Accountlng Pollc168 Icontlnuedl This is included in th& accounts re1vable. InvÈs rnÈn Gairjs én This includes any gain or loss on the Sa of investments and any gain or loss resulting from revaluing investrr&nls to market value al the end of the year Expendlture and Llabllltl88 ni Liabilities are recognised as soon as there is a legal or conslruclive obligation committing the Charity to pay out resource5. Govemance Cosis Include costs of the preparation and examination of statutory account8. th& cos18 of the trus188s meetings and cost of any legal advice lo Iruslees on governance or constitutional rnatters. Grnnts wllh Perfomiance Condltlons Where the Charity give8 a grant with condition8 for its payment being a specific l&vel of servic8 or output to b8 provhjed, such grants are only recognised in the SOFA once the r8cipienl of the grant has provided the specified service or oulpul. Grants Pa ble without Performance Conditions These are only recognised In the accounts when a commitment has be&n mad& and there are no conditions to be met relating to 8 grant which remain in control of the Charity. Investments Investments quoted on a recognised stock exchange Sre valued al market value al the yesr end. Other investment assets Sre included 81 Iruslees, best estimate of matket value. rjrestricted fun These funds can be used forthe general objethives ofthe Charty a$ sel out in the tTUStees port. The movements of the unrestricted funds are given In the Statement of Financial Activities. Restricied Funds These funds are whÈre the donor has sp8cified a purpose for the donation mad&. These restrictions often arise as a resum of appeals for special offering8 for specific purposes. Desi nated Funds These funds 8re fund5 set aside by the ttU5tees out of unrestricted general funds for partiGular purposes or projects. FlxedAssels Fixed Assets are capitslised if they can be used for more than one year and have a cost of al least £1,500. They are valued at cost or, if gifted. at the value lo the Charity on retripl.
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 1 Accountlng Pollc168 Icontlnuedl Depreciation is calculated at a rate lo write off the cost of langibk fixed asgels overtheir e$limaled useful lives. The ote$ aPpld are as follows Fixtures. Fittings and Equipment Motor Vehicles 25%- Reducing Balance 25'kn- Reducing Ba12nce No amortisalion Is charged to freehts Land and Buildings as the Land and Buildings is maintained lo such a standard that the eslimaled resKJual value is not $$ than cost. Chan es It) Accoufftjtln PollcAes and Methods of Accountl There has been no change lo the accounting policies Ivarialion rules and methods of accounlingl Sin last year. 2 Tanglble Flxed Asse Land & Building5 Motor Vehicles Equlpment Totzl Cost At 01 November 2024 Additions Disposals At 31 October 2025 771,332 11.318 2.695 2.339 1.2( 776.366 12,524 782,650 2,695 3,545 788.890 Depreciation At 01 Novewber 2024 Charge forthe year At 31 October2025 1.842 213 1.354 517 3,196 730 2,055 1.871 3,926 NET 800K VALUE At 31 October 2025 782.650 640 1,674 784,964 At 31 October2024 771.332 853 985 773,170 The annual commitments under non-cancelling operating kases and capital commrtmenls 8re as followE'. 31 Odober 2025 None 31 October 2024 .. None
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 3 Incomlng Resourc68 Unrestricted Funds Restricted Funds Total Funds 2025 Total Funds 2024 al Dt>nation$, Grants & Lega¢ie$ Gifts & Donstions Grants Received Membership Subscriptions 1.329 5,000 1,227 7,556 1,329 5.000 1,227 7,556 3,878 2,314 6,192 bl Charltable Acttvltles AGcotntnodaiion In¢ome Courses Tape5 & Publications 22,561 1,735 1.355 25,651 22,561 1,735 1,355 25.651 27,627 9,702 726 38,055 cl Activities for Generating Funds Fundraising Income Venue Hire 214 214 214 214 380 dl Other Incoming R8sourc05 Sundry Income 183 183 183 183 416 416
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 4 Resources Expended Unrestricted Funds Restricted Funds Total Funds 2025 Total Funds 2024 al C¢>si of Charitable Activlie$ Advertising & PublKity Bank Charges caning Costs Depreciation Expense Equipmènt Costs Freelance Contractors Fundraising Costs House Keeping Costs Insurance Costs Motor Vehicle Costs Prinling. Postage & Stslionery Rent & Rale8 878 878 706 2,000 730 2.827 7.076 293 5.698 2,000 730 2,B27 7,076 293 5,698 2,818 613 76 4.539 134 5.241 6,987 1.360 498 5,472 5.893 1,175 1,360 498 5,472 6,893 1,175 292 5,030 8.054 307 Repairs & Maintenan Sundry Expenses Tap&s & Publications Telephone C051s Travel & SubsistenGe utilily Costs Volunteers Expenses 1,176 1.153 8,747 669 1,176 1.153 8,747 669 1,024 376 9,345 74 53,589 53,589 46,560 bl Governance Cost8 Indèpendent Examiners Fees Legal & Professional Fees Loan Interest 500 500 SC 880 600 1,980 750 600 1.850 600 1,980 10
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 5 Restrfcted Funds Current Financial Year Balance 01.Nov-24 Balance 31Ct-25 Income Expenditure Transfers National Lottery Comtnunity Fund Fr8eman Charitable Trust Previous Financial Year Balan¢e 01-Nov-23 Balan¢e 31-Od-24 Income Expenditure Transfers National Lottery Community Fund Fr8eman Charitable Trust The Charity held no restricted funds during the year. 6 Investments The Charity held no fixed a55e15 investments during this orthe previou5 financial year. 7 Cash at Bank and in Hand Unre51riGted Funtls Restricted Funtls Total Funds 2025 Total Fund5 2024 Cash al Bank & in Hand 2.144 2,144 2,144 2,144 9,180 9,180 8 Debtors and Prepaymgnts Unrestricted Funds Restricted Funds Totsl Fund5 2025 Total Funds 2024 Sundry Debtors VAT Recoverab 427 6,466 6,893 427 6,466 6.893 6.552 6.552
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 9 Cred6tots.' Amounts Falllng Due wlthln One Year Unrestricted Funds Restricted Funds Total Fund8 2025 Total Fund8 2024 Independent Examiners Fees Member Loans Advances 500 51,794 678 52,972 500 SC 51,794 678 52,972 10,000 407 10,907 10 Credf(ors'. Amounts Falling in morethan One Year UDreslricted Funds Restricted Funds Total Fund$ 2025 Total Fund5 2024 Bridging Loan Member Loans Rental Deposits 15,000 15,000 5.000 35,000 15,000 5,000 20,000 15,000 5,000 20,000 During the finanual year. the b[ging loan of £15.000. r&trÉived by the Charity in 2022. was repa in full 10 P. Richards. 11 Analysis of Net Assets between Fund5 Unr&siricted Funds Restricted Funds Total Fund8 2025 Total Funds 2024 Tangible Fixed Assets Nel Curr&nl Ass&ts Long Term Liabilities Total Funds 784.964 143.9351 20,000 721,029 784,964 143,9351 20,000 721,029 773.170 4.824 35,000 742,994 12 Staff ¢05ts and Numbers The Charty employed no members of staff during this or the pr*fiOUS financial y&ar. 13 Risk Assessment The Tru51ee5 activety reviewthe major risks which the Charity face5 on a regular basis and believe that maintaining the free resetves Staled, combined with the annual reVW of the controls over key financial Systems carried out on an annual basis will provide sufficient r&sources in the event of adverse conditions The Tmstees have also examined other operational and business risks which they face and confirm that they have established systems lo miligale the signific8nl risks.
THE INTERNAMONAL HERMENEUTIC SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCT08ER 2025 14 R8setW88 Pollcy The Trustee5 have con5idere(I the level of resetves they wish to relain. appropriate lo the Charity'5 needs. This 15 based on the Charity's size and the level of finantial comtnitmenis held The Trustees aim to ensure the Charity will be able lo continue to fulfil ils charitablè objectives even rfthère is a l&mporary shortfall In income or unexpected eXnditUre. The Tru$lÈes will 8nd&avour not lo sel aside funds unnecessarity. 15 Public Benefit Th& Charty acknowledges its requir&menl lo demonstrate de2rfy that it must have charitable purposes or'aim$' that are forthe public benefit. Details of how the Charity h88 achieved this are provided in the Trustees repori. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the Ch8rily shouh undertake. 16 Payments to Trustee$ and t>ther Related Parties During th8 year, Derek Murray was r?Imbursed £1,074 for expen88s incurred. In addition, £600 was paid in r88pect of inter1 on 8 £12,000 loan provided by hirn to the Charity in the financi81 ye8r 2023. During the year, the Charty obtained a short-term. inlerest-free loan of £42,000 from Derek Murray lo support its short-term cash now requirements. This amount includes a phone loan of £1,100, again51 which inslalments lotalling £305 were repaid during the year. Olherthan the transactions disGlosed above. no further payrnenls were made to trustees or rebled parties during Ihe year. 13