## ## ## |Trustees||Mrs
I Garty|||| |---|---|---|---|---|---| |||Mr R Hands|(Resigned|18April 2023)|| |||Rev Dr LBarley|||| |||Mr A Day|||| |||Mr C Lee|||| |||Miss H Hanson|||| |||Rev FWright|||| |||Mrs J Henretty|||| |||Mr l Powe II|(Appointed|22 November|2022)| |||Rev C Robson|(Appointed|22 November|2022)| |Warden||Dr SHorsman|||| |Charity|number|327394|||| |Principal|address|Sheldon|||| |||Sheldon Lane|||| |||Doddiscombsleigh|||| |||Exeter|||| |||EX67YT|||| |Auditor||Bush 8 Co Limited|||| |||2 Barnfield Crescent|||| |||Exeter|||| |||EX11QT|||| ## ## |||Page| |---|---|---| |Trustees'
report||1-9| |Statement
oftrustees'|responsibilities|10| |Independent
auditor's|report|11-13| |Statement offinancial|activities|14| |Balance sheet||15| |Statement ofcash flows||16| |Notes to the financial|statements|17-33| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |6200,000|Working Capital. Expenditure
for the running
ofthe charity
is projected to|Working Capital. Expenditure
for the running
ofthe charity
is projected to|be about| |---|---|---|---| ||645,000 per month for the coming year so this would cover 4 —5|months.|| |6288,867|Endowment
Fund. The Trustees established
this from unrestricted|legacies|to| ||support the ongoing expenses ofthe day to day ministry
and provide greater financial||| ||security forthe future. This is felt to be a prudent
response to the|level of|| ||responsibilities
the charity now carries -the upkeep ofa working|property|valued at| ||E3.7m, a community
for whom Sheldon
is their only home, plus a|salaried|staff team.| ## ## ||The Endowment
Fund is held in a separate
investment
account. It is essential that| |---|---| ||external
shocks (such as a pandemic)
should not have the capacity tojeopardise the| ||survival
ofthe charity.| |E324,899|Staff Benevolent
Reserve. The Trustees established
this Reserve to provide forthe| ||community
under the Later Years Provision
policy. This is the framework
for making| ||appropriate
provision for community
members
who have served with significant| ||vocational
salary
sacrifice for many years. The Trustees can make a resettlement| ||grant if a member
wishes to leave when they reach retirement,
orthey can provide| ||for appropriate
care at Sheldon or locally
in the event ofdeclining
health.| |E60,000|Contingency
and Replacements
Reserve. The previous
Contingency
(E60,000) and| ||Equipment
and Vehicles (E85,000) Reserves have been amalgamated
into a single| ||Reserve for ease ofadministration.
Expenditure
from these Reserves was high in| ||2022 (Pound House refurbishment
E85,460,thatching
E32,200,vehicle replacement| ||E35,972,etc), which means this Reserve needs to be rebuilt.| |E132,569|Animal
Barn Conversion.
Allocations to this project have been made
by the Trustees| ||from unrestricted
funds and so far E28,371has been spent on designs,
planning| ||application
and feasibility
assessment.| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Restricted||Unrestricted|Restricted|| |---|---|---|---|---|---|---|---|---| ||||funds|funds|Total|funds|funds|Total| ||||2022|2022|2022|2021|2021|2021| |||||||as restated||as restated| |||Notes|||E|E|6|E| |Income and endowments|||from:|||||| |Donations
and||||||||| |legacies|||155,645|96,690|252,335|149,092|109,853|258,945| |Charitable
activities|||228,181||228,181|224,317||224,317| |Trading activities|||34,601||34,601|14,202||14,202| |Investment
income||||||||| |and rent|||52,931||52,931|20,275||20,275| |Other income|||10,127||10,127|52,338||52,338| |Total income|||481,485|96,690|578,175|460,224|109,853|570,077| |~ECh||||||||| |Charitable
activities|||583,222|108,304|691,526|441,723|121,720|563,443| |Net income before||||||||| |investment
(losses)/Gains|||(101,737)|(11,614)|(113,351)|18,501|(11,867)|6,634| |Net gains/(losses)||on||||||| |revaluations
of||||||||| |investments|||(54,811)||(54,811)|59,628||59,628| |Net (outgoing)/incoming||||||||| |resources before transfers|||(156,548)|(11,614)|(168,162)|78,129|(11,867)|66,262| |Gross transfers||||||||| |between
funds|||(10,384)|10,384||(11,839)|11,839|| |Net (expenditure)/income||||||||| |for the year/||||||||| |Net movement|in|funds|(166,932)|(1,230)|(168,162)|66,290|(28)|66,262| |Fund balances at1January||||||||| |2022|||4,972,766|3,577|4,976,343|4,906,476||4,910,081| |Fund balances at 31||||||||| |December 2022|||4,805,834|2,347|4,808,181|4,972,766|3,577|4,976,343| ## ## ## ||||||2022|2021| |---|---|---|---|---|---|---| |||||||as restated| |||||Notes||| |Fixed assets||||||| |Intangible
assets||||11|5,199|18,062| |Tangible assets||||12|3,801,281|3,766,297| |Investments||||13,14|396,692|471,503| ||||||4,203,172|4,255,862| |Current assets||||||| |Stocks for resale|||||4,899|5,502| |Debtors and|prepayments|||15|44,392|51,102| |Current assets investments|||||458,658|530,625| |Cash at bank|and in|hand|||199,950|223,249| ||||||707,899|810,478| |Creditors: amounts||falling due within||||| |one year||||17|(87,890)|(84,997)| |Net current|assets||||620,009|725,481| |Total assets|less current liabilities||||4,823,181|4,981,343| |Creditors: amounts||falling due after||||| |more than one year||||18|(15,000)|(5,000)| |Net assets|||||4,808,181|4,976,343| |Represented|by|||||| |Restricted funds||||19|2,347|3,577| |General unrestricted||funds|||4,516,967|4,642,944| |Unrestricted|Endowment||fund||288,867|329,822| |Unrestricted|funds||||4,805,834|4,972,766| ||||||4,808,181|4,976,343| |The financial|statements||were approved|by the Trustees on ....%:**.**..'.......... 2-(72-4||| |Trustee|||||Trustee|| ## ## ## |||||||||2022||2021|| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||||Notes|6||f|| |Cash flows from operating|||activities||||||||| |Cash (absorbed
by)/generated||||from|||23||||| |operations|||||||||(112,564)||45,616| |Investing|activities||||||||||| |Purchase|oftangible fixed|assets||||||(55,532)|||| |Proceeds|from disposal oftangible|||||fixed|||||| |assets||||||||9,899|||| |Net movement
of investments||||||||91,967||(53,619)|| |Dividends,|interest and rents|||||||52,931||20,275|| |Net cash|generated
from/(used||||in)||||||| |investing|activities||||||||99,265||(33,344)| |Financing|activities||||||||||| |Repayment
of loans||||||||(10,000)|||| |Net cash|used in financing||activities||||||(10,000)||| |Net (decrease)/increase||in cash|||and cash||||||| |equivalents|||||||||(23,299)||12,272| |Cash and|cash equivalents||at beginning||||ofyear||223,249||210,977| |Cash and|cash equivalents||at|end ofyear|||||199,950||223,249| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||Unrestricted|Restricted||Unrestricted|Restricted|| |---|---|---|---|---|---|---| ||funds|funds|Total|funds|funds|Total| ||2022|2022|2022|2021|2021|2021| ||E|E|E|E|E|E| |Donations and gifts||||||| |Donations|129,570|10,084|139,654|120,022|12,556|132,578| |Grants||85,000|85,000||95,000|95,000| |Legacies|1,000||1,000|7,438||7,438| |Tax refunds|25,075|1,606|26,681|21,632|2,297|23,929| ||155,645|96,690|252,335|149,092|109,8S3|258,94S| ## |||Total|Total| |---|---|---|---| |||2022|2021| ||||as restated| |Programme|events|116,103|69,799| |Individual|retreats|90,782|139,101| |Catered groups||21,296|15,417| |||228,181|224,317| |||Total|Total| |---|---|---|---| |||2022|2021| |||E|E| |Fundraising|events|19,021|430| |Trading income||15,580|13,772| |||34,601|14,202| ## ## ## ## ||||2022|2021| |---|---|---|---|---| ||||6|6| |Rental income|||35,250|5,000| |Donations|from Sheldon|Ltd|4,470|4,630| |Interest receivable|||13,211|10,645| ||||52,931|20,275| ||||2022|2021| |---|---|---|---|---| ||||6|6| |Coronavirus
Job Retention||Scheme||17,518| |Covid-19|business support||4,000|26,729| |Statutory|grants||2,171|2,592| |Insurance|claim income|||53| |Other income|||3,956|5,446| ||||10,127|52,338| ||0|N
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0.|| ## ## ## ## ||||Basis of|Voluntary|Fundraising|Premises|Charitable|2022| |---|---|---|---|---|---|---|---|---| ||||Allocation|Income|&Trading|Costs|Activities|Total| ||||||E|E|E|E| |Community||Fund|Direct||||3,510|3,510| |Anglican|Clergy||Apportioned||||50,000|50,000| |Sheldon|Hub||Direct||||34,794|34,794| ||||Apportioned||||20,000|20,000| ||||||||108,304|108,304| ## ## ## ## ## ## |||||2022|2021| |---|---|---|---|---|---| |||||6|E| |Gross wages||community||52,070|47,779| |||other staff||100,226|100,763| |Employer's|national|insurance||4,128|5,306| |Pension contributions||||12,391|12,722| |Council Tax|for community
members|||4,458|4,365| |Training recruitment/miscellaneous|||staff costs|3,311|5,187| |||||176,584|176,122| ## |Intangible
fixed assets|| |---|---| ||Hub| |Cost|| |At 1January 2022 and 31December 2022|201,957| |Amortisation
and impairment|| |At 1January 2022|183,894| |Amortisation
charged for the year|12,864| |At 31December 2022|196,758| |Carrying amount|| |At31December 2022|5,199| |At 31December 2021|18,062| ## ## ## ## ## ## |Tangible fixed|assets||||||| |---|---|---|---|---|---|---|---| ||||Freehold
land|Fixtures and|computers|Tractors g|Total| ||||and huildlngs|fittings||Vehicles|| ||||E||||| |Cost|||||||| |At 1January|2022||3,989,226|425,535|151,292|109,882|4,675,935| |Additions|||19,560|||35,972|55,532| |Disposals||||||(15,515)|(15,515)| |At 31December 2022|||4,008,786|425,535|151,292|130,339|4,715,952| |Depreciation|and impairment||||||| |At 1January|2022||268,631|404,396|149,768|86,843|909,638| |Depreciation|charged|in the year||11,135|1,524|6,335|18,994| |Eliminated
in|respect ofdisposals|||||(13,961)|(13,961)| |At 31December 2022|||268,631|415,531|151,292|79,217|914,671| |Carrying
amount|||||||| |At 31December 2022|||3,740,155|10,004||51,122|3,801,281| |At 31December 2021|||3,720,595|21,139|1,524|23,039|3,766,297| ## ## ||Sheldon|Ltd| |---|---|---| |Cost or valuation||| |At 1January 2022 &31December 2022||100| |Carrying amount||| |At 31December 2022||100| |At31December 2021||100| ## ## ## |13|Investments|||||(Continued)| |---|---|---|---|---|---|---| ||||||2022|2021| ||Other investments||comprise.|Notes|E|E| ||Investments|in subsidiaries|||100|100| ## |Investments||||| |---|---|---|---|---| |||General|Endowment|Total| ||||Fund|| ||||E|| |At 1January|2022|141,581|329,822|471,403| |Gains/losses|on revaluation|(13,856)|(40,955)|(54,811)| |Withdrawals||(20,000)||(20,000)| |At31December 2022||107,725|288,861|396,592| ## ## ## |15|Debtors||||||| |---|---|---|---|---|---|---|---| |||||||2022|2021| ||Amounts
falling due within one||year:|||6|E| ||Tax recoverable|||||13,162|19,577| ||Grants and legacies|receivable||||5,000|5,000| ||Prepayments|||||25,385|24,795| ||Other debtors|||||845|1,730| |||||||44,392|51,102| |16|Loans||||||| |||||||2022|2021| |||||||E|6| ||Interest free loans|||||15,000|25,000| ||Payable within one|year|||||20,000| ||Payable after one year|||||15,000|5,000| ||Amounts
included|above which|fall due after five years:||||| ||Payable by instalments|||||5,000|5,000| |17|Creditors: amounts|falling due|within one year||||| ||||||2022||2021| ||||||||as restated| |||||Notes|||6| ||Interest free loans|||16|||20,000| ||Deposits re future|bookings|||3,741||6,424| ||Trade creditors||||59,213||18,065| ||Postponed
booking|credits|||10,000||10,000| ||Accruals||||14,936||30,508| ||||||87,890||84,997| ## ## ## |18|Creditors: amounts|falling due after more than one year|||| |---|---|---|---|---|---| |||||2022|2021| ||||Notes|E|6| ||Other creditors||16|15,000|5,000| |||||tJ
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u.||||||||||||| ## ## ## |20|Analysis ofnet assets|between funds|||||| |---|---|---|---|---|---|---|---| |||Unrestricted|Restricted||Unrestricted|Restricted|| |||funds|funds|Total|funds|funds|Total| |||2022|2022|2022|2021|2021|2021| |||6|E|E|6|6|6| ||Fund balances at||||||| ||31December 2022||||||| ||are represented||||||| ||by:||||||| ||Intangible
fixed assets|5,199||5,199|18,062||18,062| ||Tangible assets|3,801,281||3,801,281|3,766,297||3,766,297| ||Fixed asset||||||| ||investments|100||100|100||100| ||Investments|396,592||396,592|471,403||471,403| ||Current||||||| ||assets/(liabilities)|617,662|2,347|620,009|721,904|3,577|725,481| ||Long term liabilities|(15,000)||(15,000)|(5,000)||(5,000)| |||4,805,834|2,347|4,808,181|4,972,766|3,577|4,976,343| ## ## ## |23|Cash generated
from operations|Cash generated
from operations|Cash generated
from operations||2022|2021| |---|---|---|---|---|---|---| ||||||f|f| ||(Deficit)/surplus
for the year||||(168,162)|66,262| ||A~At
t f|||||| ||Dividends,
interest and rents||||(52,931)|(20,275)| ||Gain on disposal oftangible|fixed assets|||(8,346)|| ||Loss/(gain)
on investments||||54,811|(59,628)| ||Amortisation
and impairment|of intangible||assets|12,864|39,460| ||Depreciation
and amortisation||of tangible|fixed assets|18,994|20,697| ||Movements
in workin
ca
ital-|||||| ||Decrease in stocks||||603|2,286| ||Decrease in debtors||||6,710|2,420| ||Increase
in creditors||||5,190|12,097| ||Increase/(decrease)
in deferred||income||17,703|(17,703)| ||Cash (absorbed
by)/generated||from operations||(112,564)|45,616| ## ## ## |24|Analysis ofchanges|in net funds|||| |---|---|---|---|---|---| ||||At 1January Zeta|Cash flows|At 11December| ||||||1011| ||Cash at bank and in|hand|223,249|(23,299)|199,950| ||Loans falling due within one year||(20,000)|20,000|| ||||203,249|(3,299)|199,950|