Company Registration Number 2178410 Registered Charity Number 297985 THE DYCATIO Mangreen Trust Report of the Trustees and Unaudited Financial Statements for the year ended 31st December 2024 Page l of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Contents Page For the year ended 31 December 2024 Trust Reference and Administrative Details Report of the Trustees ndependent Examinerfs Report Statement of Financial Activities Balance Sheet 10-11 Notes to the Financial Statements 12-16 Page 2 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Reference and Administrative Details For the year ended 31 December 2024 TrUSTEES and DIRECTORS Mrs Angela Mary Sellens Drake Mrs Susan Ann Eagle Mrs. Patricia Holton. Mr Timothy Eagle Mrs. Sarah Caroline Coleman 'During 2024 Mrs. Patricia Holton wa5 a Trustee but not a Director of Man8reen Trnst The Trust solicitors have been instructed to address the matter so that Mrs. Holton is appointed as a Director of Man8reen Trust. Mrs. Coleman resi8ned as a Trustee on 6 January 2025. REGISTERED COMPANY NUMBER REGISTERED CHARITY NUMBER 02178410 297985 REGISTERED OFFICE Mangreen Hall North Swardeston Norwich Norfolk NR14 80D Independent Examiner Alan Evans, Aegel Finance Meadow House Aylsham Norwich NRII 6DA Page 3 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The charity is controlled by its governing document, a deed of trust. and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. The Trustees who are also dirertors of Mangreen Trust forthe purposes of the CompaniesAct 2006 present their annual report and financial statements for the year ended 31, December 2024. 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 Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. Objectives and Activities Principal activities The principal activity of the Trust during the financial year was the promotion of healing and good health. This year has been very challenging in a lot of ways not just financially with the spiralling costs and the tightening budgets for families Iwe have seen a drop in revenues along with other charities) but OLtr help is also as ever in demand. We continue to help the local communities as well as school children in Malawi through the Dedza School Links charity. Our Dementia work continues with coffee mornings at Mangreen for the carers as well as those that have Dementia. One of our Trustees continues to hold zoom 8roup meetings. We have been holdlng space5 for Yoga and wellbelng retreais through our partners whlch have had a good take up. We have also held private retreats for organi53tions. Again this year has seen families get together sadly on occasions to celebrate the life of a loved one. I am pleased to say Mangreen Trust has been able to help with this. Our work with the local Spiritual Mangreen community has continued with monthly meetings and coffee mornings. In these trying times we offer free Fruit and Veg to those that need it, distributed throu8h our honesty farm shop. Our swimming pool continues to be popular, through word of mouth and has been recognised as a good place for disabled children and adults with their families to come to relax. It is good to see families spending quality time together. One of the reasons for this is that we have a disabled hoist and steps that walk gradually down into the pool area. With our partnership with the Green Room Therapy, we worked with the NHS to provide spiritual based wellbeing and mental health classes as well as 'Keeping Abreast, charity. Sadly our partnership with the Green Room Therapy ha5 come to an end in this year and at the time of writing we are looking for a new partner to provide these facilities at Mangreen. Page 4 of 16
Company Re8iStration Number 02178410 Registered Charity 297985 'Keeping Abreasy is a breast cancer charity that provides positive experiences for those with breast cancer. We are happy to provide spacè for The University of E3St Anglia for mentoring students to become counsellors in the future. Mangreen Trust has seen a big increase in costs which we are trying to take on board. The Trustees are considering the future of the Trust in its current form. The Mangreen Trust slte, Orchard Rooms & Sanctuary Users in 2024 Norfolk Moth Survey group. Angela Sellens-Drake-Reflexology and Complementary Health workshopslclinics. Dedza School Links Charity The Green Room Therapy NHS senior management team NHS critical care Management team Keeping Abreast Relate Norfolk and Suffolk. Training. Norfolk County Council Children's Services. Training days including Sensory Support group, disabled children. and other strategy groups. Private celebrations for local people Values Trainin8 Services. NCC Adoption and family finding unit. Various Celebrations of Life. Little Stars "baby swimming start of life" Mancroft Advice Projert IMAP). Norfolk and Norwich Scope Association/NANSA. Simon Delph . Leading to change 8roup. Childways massage training. The Mankind Project. Norfolk Carers Support. NCC.. SEND and ANDP groups. NCC . Norfolk Youth Offending Team. Mancraft Group, Men's help and Support group University of East Anglia, counsellor trainin8 Mangreen Trust workshops Portage SEND Plans for the Future The Trust, and its subsidiary Mangreen Country House Retreats Ltd, are currently facing difficult trading conditions. This is considered to be caused in part by increased food, staffing and energy costs. The cost of living crisis has also resulted in its clients experiencin8 reductions in disposable incomes thereby reducing discretionary expenditure. Page 5 of 16
Company Reeistration Number 02178410 Re8iStered Charity 297985 Durlng the financlal year decislons have been taken whlch have stablllsed the financlal position and this has continued into 2025. Trustees are currently considerin8 the future options for the Trust a5 this level of profitsbility would not be sufficient to seajre the future investment required. Legal advice is being sought as well as the guidance of the Charity Commission. Financial Review Mangreen Trust operates the swimming facility and the conference faalities which are hired to appropriate local organisations. The Country House Retreat is operated by a separate company Man8reen Country House Retreats Ltd which is a wholly owned subsidiary of the Trust. The conference faolities are used by a range of local or8anisations sud) as educational institutions, local authortties and health services. Income from the swimming pool has increased sharply following the investment in the facility. Overall the Trust incurred an operational loss of £{3lk. but an overall loss of £1341k after allowin8 for depreoation of £lll)k and an adjustment of £{20lk recognising a change in accountin8 for historic costs. The Country House showed a loss of £{26lk linduding depreciation of £15}kl. The consolidated position for the Trust and its subsidiary is a loss of £{601k. During the year. Trustees were adNrysed of a misinterpretation of the Occupancy Agreement and the Trusys relationship with its subsidiary ManpJeen House Country Retreats Ltd. As a result Costs which should have been incurred by Mangreen Trust were not rechar8ed. Trustees sought immediate professional advice and the matter corrected. This is refletted in the Financial Statements by the £20k adjustrnent referred to above. Current procedures have been amended. Golng Concern Trustees are conterned about the overall trading position and are considering options. as mentioned previously. that will be more effettive in achieving its charitsble objectives. Thu5 the Finanrial Statements continue to be prepared on the going concern ba5iS. This report was approved by the Board on the 14 Au8USt 2025 and Is signed on Fts behalf by rs Susan Ann Ea8le Trustee Page 6 of 16
Company Registration Number 02178410 Re8iStered Charity 297985 MANGREEN TRUST Independent Examinerfs Report to the Trustees of Mangreen Trust ('the Company) I report to the Charity Trustees on my examination of the accounts of the Trust for the year ended 31" December 2024. Responsibilities and basis of report As the charity's trullees land also its directors for the purposes of company13wl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Att 2006 {'the 2CM)6 Att'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitws accounts as carried out under Section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Sertion 145151 Ibl of the 2011 Att. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company a5 required by Section 386 of the 2006 Act,. or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006Actotherthan any requirementthat the accountsgive a true and fairview which is not a matter considered as part of an independent examination- or rhe accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. The historic matter referred to in the Trustees Report, relating to the arrangements between the Trust and its subsidiary. has been addressed. I 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 Financial Statements to be reached. As mentioned in the Trustees Report, Trustees are reviewin8 the strategic dirertion of the Trust and its wholly owned subsidiary Mangreen Country House Retreats Ltd. Page 7 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Independent Examinerfs Report to the Trustees of Mangreen Trust ('the Company) continued The Financial Statements have b en prepared on a goin8 concern basis. Alan Evans FCA M Sc MBA 14 Au8USt 2025 Aegel Finance Meadow House Aylsham. Norfolk NRII 6DA Page 8 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Statement of Financial Activities For the year ended 31 December2024 2024 2023 Unrestrirted Fund Restricted Totsl Funds Fund Total Funds Notes Donations and Bequests Activities to further the charitrfs objertives Earnin8s from services supplied Membership Fees Other incoming resources Total Incoming Resources 120 120 124 26,900 26,900 40,105 29,683 598 57.301 28.683 598 57.301 27,025 394 67,648 Resources expended Charitable expenditure Cost of activities in furtherance of charitrfs objectives Management and administration of the charity Use of revenue for capital investment Total Outgoing Resources 11,7831 {80.037) 111.140) 191,177) (72.9461 126,362) 26,362 (106,3991 15.222 191.177) 174,7291 Surplus / (Loss) for the Year 149,0981 15.222 133.8761 {7,081) Total Funds brought forward Balance sheet adjustment Total Funds carried forward Irestatedl 59,337 1,060.279 1,119,616 1,148,831 {22.1341 1,085,740 1,119,616 io 10.239 1.075,501 Page 9 of 16
Company Registration Number 02178410 RegiSted Charity 297985 MANGREEN TRUST Balance Sheet As at 31 December 2024 2024 2023 Total Funds Restated Unrestricted Restricted Fund Fund Notes Total Funds Fixed Assets Tangible Fixed Assets 1.075.501 1,075,501 1.060,279 Current Assets Stock 1.321 1,606 31.217 34.144 1,321 1,606 31,217 34,144 Debtors Cash at Bank and in hand 3.394 16,643 20,037 Current Liabilities Creditors= Amounts falling due within one year Intercompany balance owed to Mangreen Country House Ltd Net ¢urrent assets / (liabilities) Total assets less current liabilities 110.536) (10.5361 14,700) 157,369) {57,3691 133,761) (33.7611 15,337 133.7611 1,075,501 1.041.740 1.075.616 Long term loan to Subsidiary Company Mangreen Country House Retreats Ltd NET AsSs 44,000 44,000 10.239 1,075,501 1,085.740 1,119,616 Capital and reserves Unrestritted Funds Restricted Funds 10,239 75,501 59,337 60.279 Restricted Fund- Revaluation Reserve 1,000,000 1,000,000 TOTAL FUNDS io 1,085,740 1,119,616 Page 10 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Balance Sheet (contlnued) As at 31 December 2024 Mangreen Trust is a charity and a private company, limited by guarantee. The diaritable company is entitled to exemption from audit under Section 477 of the Companies Att 2tY)6 forthe year ended 31" December 2024. The Members have not required the company to obtain an audit of its financial statements for the year ended 31ST December 2024 in accordance with section 476 of the Companies Act 2006. The Trustees acknowledge their responsibilities for ensurin8 that the charitable company keeps accounting records that comply with sections 386 and 387 of the Companies Act 2006 2. preparing financial statements which give a true and fairview of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Art 2006 relating to financial statements. so far as applicable to the charitable company These financial statements have been prepared in accordance with the provisions applicable to ¢haritable companies subject to the small companies regime. The Financial Statements were approved by the Board of Trustees and authorised for issue on 14 August 2025 and were signed on its behalf by: Mrs Susan Ann Eagle Trustee Page 11 of 16
Cornpany Re8lStration Number 02178410 Registered Charity 297985 MANGREEN TRUST Notes to the Financial Statements For the year ended 31 December 2024 l Accounting Policies Basis of preparation of the financial statement5 The Financial Statements of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accountin8 and Reporting by Charities: Statement of Recommended Prartice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Art 2006. The Financial statements have been prepared under the historic cost convention as modified by the revaluation of13nd and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. Income Income is recognised in the Statement of Financial Activities once the charty has entitlement to the funds, it is probablethat 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 contractual obligation committing the charity to that expenditure. Tangible fixed assets Tangible fixed assets. other than freehold land. are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates, calculated to write off the cost or valuation of fixed assets. less their estimated residual value. over their expected useful lives on the following basis: Freehold Buildings Building Improvements Plant and office equipment House contents GMLC and Candle Chapel New Orchard Room 15% reducing balance 15% reducing balance 15% reducing balance 15% reducing balance 7.5% reducing balance Pa8e 12 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Notes to the Financial Statements (continued) For the year ended 31 December 2024 Flxed Asset investments In February 2014, Messrs Irelands (chartered surveyors and valuersl prepared an informal valuation of thecurrent marketvalue of the freehold property which was donatedtotheTrust in 1987. at no cost. on formation of the Trust. under deeds of Gift together with subsequent building costs of the Global Meditation Li8ht Centre and the rebuilt Orchard Room. In their opinion the market value was £1,000.0 for the building and the grounds. The Trustees consider the valuation given by Messrs Irelands of £l,OLKI.L)Xl to be a fair value. Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objettives at the discretion of the Trustees. Restricted funds can only be used for particular purposes Wlthin the objects of the charity, as specified by the donor or when raised for a particular purpose. 2 Operating profit / (loss) 2024 2023 The operating profit I Ilossl is stated after charging: Depreciation of tangible fixed assets 11,140 9.276 3 Employee5 The average number of employees duringthe year was 112023 - 1) No employee received emoluments in excess of £60,LI)O The remuneration paid to a Director duringthe year was £31,332 12023: £30.0001 4 Trustees There were no Trustees. remuneration paid for the year ended 31" December 2024 or for the year ended 31, December 2023. There were no Trustees, expenses paid for the year ended 31# December 2024 or for the year ended 31 December 2023. S Financial Commitments Capital Commitments at 31 December 2024 were nil. Page 13 of16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Notes to the Financial Statements (continued) For the year ended 31 December 2024 6 Tangible fixed assets Freehold Property Mangreen Hall - Land and 8uildin8s as acquired on formation of the Trust at no cost Valuation as at 31" December 2024 £k I,0,CH3o New Office Plant. House tureS and Office al Contents Grounds Shop Equipment GMLC and Candle Chapel New Orchard Room TOTAL Cost or valuation As at ljanuary 2024 164,545 12.904 13.59) 21,878 117,617 330,534 Additions in year Disposa in year As at 31 December 2024 26,362 26,362 164,545 39.266 13.590 21,878 117,617 356,896 Depreciation As at I january 2024 131,417 12,271 13.5 20.107 92.870 270,255 Char8e for the year As at 310ecember 2024 Net book values Closing balènce as at 31 December 2024 4.969 136,386 4.049 16.320 266 20,373 1,856 94,726 11,140 281,395 13,55Y) 28,159 22.946 1.505 22,891 75,501 Closing balance as at 31 December 33,128 633 1,771 24.747 60,279 2023 Page 14 of 16
Company Registration Number 02178410 Registered Charty 297985 MANGREEN TRUST Notes to the Financial Statements (continued) For the year ended 31 December2023 Debtors: amounts falling due within one year 2024 2023 Trade Debtors Prepayments and Accrued Income 1327 3,147 247 279 1,606 3,394 Creditors: amounts falling due within one year 2024 2023 Trade Creditors and Accruals PAYE and other payroll taxes Wages and Salaries 8,088 2,000 7LIJ 2,000 10,536 4,700 Long Term Debtor In 2019, the parent cornpany Mangreen Trust provided Mangreen Country House Retreats Ltd with an interest free loan of £84k to finance the refurbishment of the Country House. In return for this, Mangreen Trust Country House Retreats Ltd undertook the maintenance and management of the site. SintÈ 2019. £40k of the loan has been repaid. There were no repayments during 2024. Debtor: amounts falling due after one year 2024 2023 Amounts owed to parent company Page 15 of 16
Company Registration Number 02178410 Registered Charity 297985 MANGREEN TRUST Notes to the Financial Statements (continued) For the year ended 31 December2023 io Profit and Loss Account 2024 2023 Balance at the start of the year Profit / Loss for the year Intercompany adjustment reflerting Mangreen Hotel costs paid by the Trust but recharged 1,119,616 1,148,831 133,8761 17,0811 {22,134) Balance at the end of the year 1,085.740 1,119,616 li Employment Costs The avera8e number of staff employed and financed by the Trust durin8 the year to 31SI December 2024 was I full time12023- 1 full time). Other employment costs were recharged as appropriate. 2024 2023 Employment Costs= Wages and Salaries, National Insurance, Trust pension costs Tot31 Employmont Costs 34.397 32.669 34,397 32,669 12 Commitments Commitments to long term leases a5 at 31 December 2024 were nil12023". nil) 13 Ultlmate Owner and Related Party transartlons The Trust continues to support its wholly owned subsidiary Mangreen Country House Retreats Ltd by means of an interest free loan to cover the cost of original renovations. The Trust and Country House Retreats Ltd share the same site and as a result Mangreen Country House Retreats Ltd pay certain costs which are subsequently recharged to the Trust. Page 16 of 16