19 Charity registration number.. 327394 The Society of Mary and Martha Annual Report and Financial Ststements for the Year Ended 31 December 2023 heldon
The Society of Mary and Martha Contents (continued) Reference and Administrative Details Trustees, Report 2to8 Independent Auditors, Report 9t012 Statement of Financial Activities 13 Balance Sheet 14 Cash Flow Statsment 15 Notes to the Financial Statements 16to32
The Society of Mary and Martha Reference and Administrative Detalls Charity Registration Number 327394 Trustees Mrs l Garty Rev Dr L Barley Miss H Hanson Rev F Wright MrCLee Rev C Robson MrADay Mrs J Henretty Mr I Powell Mr R Hands (Resigned 18 April 2023) Dr S Horsman Warden Principal Office Sheldon Sheldon Lane Doddlscombsleigh Exeter EX6 Auditor Westcotts (SW) LLP 47 Boutport Street Bamstaple Devon EX311SQ Page 1
The Society of Mary and Martha Trustees. Report The trustees present the annual r8POrt together with the financial statements of the charty for the year ended 31 December 2023. Sheldon - heart and soul for ministry Objectives and activities for public benefit We crealed Sheldon because Christian ministry is a profoundty complex and challenging vocation - often rewarding, but Ggrrying significant risks to physical. mental and spiritual health. People wounded or broken by ministry needed a reliable and truslworthy resour independent of the structures within which they live and work. We have been sustaining and growing this work for over Ihirty years. Sheldon is the home of our charity, a cluster of converted farm buildings in the Teign Valley in Devon. We offer support to people in ministry both in peon at Sheldon and online through the Sheldon Hub. Sheldon has been wholly owned by the charity since 1991. A vocational lay Community of men and women wn the Sheldon Retreat. Sheldon is both their home and Pla of work. The team also indudes non-resident salaried staff and volunteers who stay for a few days al a time. Sheldon has len 5elf-contained quarters for private retreats, plus frfteen en-suite bedrooms in the Long Bam and Pound House. Most rooms are iwin or double so there are 47 beds in total, but we never ask single people to share. Communal facilities include meeting and dining rooms, chapels, a library. the Art Shed, a Chartres-sWe labyrinth and 45 acres of gardens and grounds. We designed all of them to help guests with restoration of body, mind and spirit. Sheldon's own events programme includes led retreats, R5 weeks (Read, Rest, Relax. Retreat, Recuperate), workshops and volunteer workparties. Some resources are exdusively availab18 to people in ministry while others are open to everyone. In 2023 w8 ran Iwo dergy family holiday weeks. We offer on8 to one support sessions lo guests in ministry on both programme events and private retreats. Some of the Sheldon accommodation is availabl& for church, wellbeing, educational and extended family groups to run their own programmes. We launched the online Sheldon Hub in 2017. It is a purpose built platform carefully designed and hosted to provide space for a 2.500 strong community of practice sharing mutual support. Forum conversations range widely, and the option of posting anonymously creates safety for those seeking advice and reflecting on difficult or highly sensitive subjects. Members collaborate to build a readily searchable bank of practical resources to facilitate doing healthy ministry together. Much of the day-to-day work of the charity is creating good space within which the deep and real, but largely hidden, work within individual lives can take place. This may include reducing anxiety. lifting depression, recovering from bereavement, spiritual accompaniment, holding people's stories through ongoing complex life journeys. or walking with them through a crisis. Creating good Spa is a multi-faceted art and includes the care of the built and natural environment. preparalion and serving of both rooms and food. kind and aware hosting. Ihe infrastructure of services and technology. and reliable communications. It takes commitment, diligence and attenlion to detail. The Society of Mary and Martha was founded in 1987 as a direct response to the needs of people in ministry. The context of ministry continues to evolve and our work is changing and growing in response. Maintsining a consistently high standard and a sustainable outlook requires recruiting. training and supporting a committed team, maintenance of buildings and grounds, and technical infrastructure to support the onlin8 community and day to day running of the organisatTron. Page 2
The Society of Mary and Martha Trustees. Report (contlnued) Overvlew of 2023 Sheldon has contlnued to fuffil our cxjre vision of supporting people in ministry whlle successfully navigating a range of ongoing challenges. The impacts of the Covid pandemic continue to be felt in a variety of ways across the hospitality industry. We maintain unusually high standards of Covid protections with air filtration and monitoring, masking in high risk areas. free tests and generous paid sick leave for stsff. and generous ncellation terms for guesls. Despite all this we still had two infections of communitylalongsiders which were severe enough to necessitate cancelling a residential event. There is seldom a week goes by without a health-related cancellation by a guest or volunteer or a staff member missing a shifL We also faced other non-covid health issues wilhin the team. We sense there are knock-on effects from the increased sickness burdens whereby guests come with needs that are more complex and tend not to plan so far ahead. It all adds to the general 'friction' of the operation - it costs more and takes niore time and energy to achieve the same level of care and service. Despite these challenges, we continued to provide a faithful arHJ steady service to guests throughout the year. We recruited new members to Ihe team and completed the major refurbishment of the guest bedrooms in the Pound House. We successfully transferred our accounting to a doud based paperless system and prepared for a seamless harKk)ver to a new bookkeeper. Planning cOrent was grankd in 2022 for the conv8rsion of the Animal Barn to provide more residential units plus a meeting room and ancillary facilities. Building on Ihis initial step, we appointed a new architect to prepare fresh drawings reflectlng our evolving vision for Shelthjn's future needs. Thinking ahead to Sheldon's future energy needs and ongoing reduction of cart4)n footprint, we applied for an upgpde to 3-phase electricty supply. This V*llll be impl8m8nled during a closed period in 2024 as a necessary first step towards installing additional solar photovoltaic supply. The financial detaI15 whlch follow can be thoughl of as the necessary scafft)Iding which enable us lo serve our beneficiaries. They are not end goals in themselves, but the means to the charitys ends. Our focus is always on what will enable guests to experience deep and lasting benefit from their time at Sheldon. 2023 in more detail In Ihis section we provide a step by slep commentary on the accounts payng particular attention to items where there is a significant change on the previous year, andlor where it is a helpful prompt to describe the activities of the charity during the year. Numbers in square brackets referrer to the formal notes to the accounts on pages 11- 28. Figures are mostly rounded to the nea$t £100 for ease of reading. The SOFA (page 8} shows 2023 to have been a year financially fairly consistent with 2022. 1. In ome. Total income was higher. with bookings up a little and donations marginally down. a. Donations, grants and legaGies [2]. Friends continue to be the mainslay of voluntary support with 650 people contribLrting a total of £75.000 in regular standing orders. The other half is made up of individual gifts, gift aid tax refunds, a legacy and gifts from churches and other communities. In restricted funds, grants totaling £85,000 were received from the Clergy Support Trust for Sheldon's work with Anglican dergy and from The Henry Smith Trust and The Mercers. Company for the Sheldon Hub. Smaller amounts were donated individually for supporting the online Sheldon Hub and the resident Sheldon Community. Page 3
The Society of Mary and Martha Trustees. Report (continued) b. Contributions from guests [3]. The total number of guest nights remained very stsble at about 2,800 in 2021. 2022 and 2023. The type of bookings vary year lo year with 2023 having more private retreats and events on our own programme, and fewer catered groups. Guest contributions make up the largest part of our income at £245.300. c. Trading activities [4. 7]. The shop and bar are tacilities that serve guests in residence and also raised over £10.000 between them. Proceeds from fundraising concerts in Ihe theatre were lower this year at nearfy £6.000. We made some safety and user experience improvements to the auditorium and ticket prices will be raised in 2024. d. Investment income and rent [5.61- Higher bank interest rates meant monies on deposit eamed 50% more than in the previous year. Rent is paid by Sheldon Ltd Nvhich is the charity's wholly owned subsidiary cnmpany. 2. Ex enditure on charitable activities. Note [7] shows the breakdown of all the day to day costs that are involved in running the life and work of the Sheldon Retreat and the Sheldon Hub. The table gives complex analysis for formal reporting purposes. but we would highlight a few figures that are most useful in gaining a practical understanding of the financial costs of the ministy. a. Stsff. Staff members assist the community wilh all aspects of Sheldon's work induding adminislration, catering, housekeeping, deaning and estste work. We noted in 2022 our intention to recruit additional housekeeping staff in 2023 when our community housekeeper retired, and we were able to do this as planned. Some olher staff worked increased hours. To keep everyone safe from infection we pay reasonably generous discr8tionary sick pay. Including annual pay rises and discretionary sick pay. total staff costs increased by 22 % to £92.100. b. Communlty and Alongsiders. The life of the resident community is at the heart of Sheldon with its commitment lo stsbilty. stewardship and servanthcod. Communty members and Alongsiders receive a modest subsistence allowance and pension contributions. Their accommodation and food is accounted for within the total costs of running Ihe site. One community member retired in 2023 after 27 years of seTvi¢e and another moved on after 3'A years. One founder mémbér with Alzheimer's and complex health needs moved into permanent residential care. Trustees previously made financial provision for retirement and support in older age in the Community Later Years Reserve which is being spent down to meet these needs. Alongsiders serve for shorter periods of time. sometimes with a view to longer term community membership. 2 Alongsiders left and 3 were appointed in 2023. Guest leaders are people who we invite to lead retreats on our programme. Sheldon recruits. trains and supports our leam with each member playing a part in providing high qualty care to our beneficiaries. Community and Alongisder allowanS, pensions, council lax. resettlement and care amounted to £102.500. c. Food, catering supplies and housekeeping. Providing tssty and heafthy food for guests and cotnmunity is a major item in Sheldon's budget at £38.000. The Housekeeping team takes a pride in providing dean and well-kept rooms. Costs of £30.000 include deaning materials. maintenance contracts. and ensuring broken or wom fittings and furnishings are repaired or replaced promptly. In 2023 we replaced all the 17 mattresses in the Long Bam guest accommodation and completed the winter 202213 refurbishmenl of the srx bedrooms in the Pound House. d. Facilities upgrades. Sheldon started lrfe as a working fami and in common with many such properties it has an old fashioned electricity supply. In rent years this has stsrted to hamper instsllation of modem equipment (eg professional catering hobs in the kitchen, electric vehicle Chargers, additional photovoltaic g8n8ration) and future development of the site (Animal Bam). £30.000 has been allocated for this project, most of which was spent in 2023 under contract with National Grid. The work will be carried out when Sheldon is c105ed in September because of the level of disruption to the running of the site that will be involved. Page 4
The Society of Mary and Martha Trustees. Report {continued) e. Building & grounds, maintenance and repairs and maintenance. Routine costs include serviclng and repairs to heating systems, plumbing, electrics and fire systems across the whole site. Along with routine building maintenance, these are some of the core costs to keep Sheldon safe and comfortable for guests. One of Sheldon's features is the two storey medieval porch on the grade two listed thatched farmhouse and we spent just over £7,500 to maintsin the integrity of the structure and redecorate it. Sheldon is also custodian of 45 acres of grounds which the estate team manage in environmentally-friendly ways that keep the giounds safe and attractive for guesls. Work during the year included tree surgery because like many similar estates we are affected by Ash Dieback making mature trees unsafe. We also carried out routine servicing of machinery. made ongoing improvements to woodland paths and steps and maintalned hedges, fences and pastLtres. We run a small breeding flock of rare breed sheep, grow fruit and vegetsbles, and maintain borders and shrubberies. Totsl costs in this section were £53,500. f. Energy and water. We made strenuous efforts to achieve e¢onomies in ways that minimised the impact on guests, comfort. We appointéd new heating engineers with more experience of renewables and together we are working to ensure that our solar hot water systems are managed for maximum efficiency. Costs remained stable on the previous year at £57,100. g. Sheldon Hub Gosts: IT, wages and publicity. The online Hub continues to be a highly valued resource. It is provided free of charge for its wide-ranging membership of people in ministry. Funding comes from restricted grants supplemented by contributions from members. During 2023 we reduced direct costs to stay within the available funding and time constraints - £26,200 (plus apportioned costs of £20,000 for technical infrastrudure and Community time [81. We hope to develop this further in 2024. h. Insurance. The responsibilities of the trustees include insuring against a wide range of risks including the buildings (many of which are thatched) and their contents. plus business intemiption, and public, employer and professional liabilities. The full market tender exercise in 2023 realised very worthwhile savings of about 30 % . i. Technical infrastructure. This is all the infrastructure that enables us to have an efficient administration to serve guests directly and to run the back offi. It indudes the neOrk server, wireless broadband, internal WiFi, wmputers for all stsff members, support contracts, the database at the heart of Sheldon's operations, and sofknre licenses. £45.900. j. Audit, accountancy and bookkeeping. £33,200. Unfortunately the value of the Sheldon property takes us over the threshold into the expense of a full audit regime which is highly atypical for a charity wth our level of turnover. Extra costs were incurred during 2023 as we successfully transferred from Sage to Xero and transitioned to a paperfess system which facilitates remote working. The successor to our longstanding bookkeeper is being trained during early 2024. k. Professional and legal fees. The bulk of this expenditure (£10,400) was professional architect fees for fresh designs for the potential rebuilding of the Animal Barn. l. Licenses and other guest facility Costs. Licenses indude PRS, PPL, TV, premises license and non-domestic rates. Guest facilities include supplies for masseurs, the Art Shed, Library and chapels. We also provide Covid protections for guests and staff and this year installed a digital C02 monitoring system in all main meeting and dining rooms. 3. Gains and losses on investments. These reflect the annual revaluations of investments held for the long temi and are expected to show short term fluctuations. In 2023 investments gained £43,000 (in 2022 they lost £55,000, in 2021 they gained £60.000). The charity has a policy of holding low risk investments across a spread of institutions. During 2023 accounts were opened with new institutions to keep Sheldon's assets close to being covered by the FSC bank guarantee of £85,000 per institution. Page 5
The Soclety of Mary and Martha Trustees. Report (contlnued) The Balance Sheet- Assets and Fund Balances The chafity's net assets are valued at £4,800,000. However, four fifths of this 15 tied up in the fixed assets that the charity uses to carry out its charitable activities day by day. These are the Sheldon property and its associated fixtures, fittings, computers and vehicles (£3,800,000) [14J. The large 'disposals' figure for the year is mostly an accounting adjustrnent (as explained in note 14) not actual disposal of assets. There were no additions in the year. Reserves. The charitvs Reserves policy was adopted in 1998 and reviewed in 2018. The charity holds both restricted and unrestricted reSee5. The trustees aim to maintain free reserves of £1,006,335 in order to ensure continuity for beneficiaries, capable of covering the following needs. There is a restricted defiat of £4,820 P1] relating to the Sheldon Hub which was covered by a grant received earfy in 2024. There are other restricted funds of £1,791 bringing the free reserves to £1.037,162. Reserves held are therefo £30,827 more than the needs detailed above. £200,000 Working Capital. Expenditure forthe runnin9 of the charity is projected to be about £45.000 per month forthe coming year so this would cover 4 - 5 months. £317.715 Endowment Fund. The Trustees established thi5 from unrestricted legacies lo support the ongoing expenses of the day to day ministry and provide greater financial security for the fijture. This is felt to be a prudent respcffise to the level of responsibilit'es the charity now carries- the upkeep of a working propety valued at £3.7m, a community ft)r whom Sheldon is their ¢)nly home, plus a salaried staff team. The Endowment Fund is hdd in a separate investment account. It is essential that extemal shocks (such as a pandemic or recessionlfinancial crisis) should not have the capacity to jeopardlse Ihe survival of the charity nor its akility to honour its commitments. £287,784 Communiiy Lateryears Reserve. The TTUStees established this Reserve to provide for the community under the Later Years Provision policy. This is the framework for making appropriate provision for founder community members who have seNed with significant vocational salary sacrifice for many yea. The Trustees can make a resettlement grant if a member wishes to leave when they reach retirement, or they can provide for appropriate care at Sheldon or locally in the event of declining health. The ReseNe has been drawn ¢Jn for both these tYFes of need in 2023 and this will continue for the foreseeable future. £139,5DJ Contingency and Replacements Reserve. This reseNe was largely exhausted during 2022 with major works like rethatching a big roof and replacing a vehicle. A modest surplus in 2023 has enatled us to parlially rebuild the reserve in preparation for unknown costs of bringing fibre broadband to the site, replxing some aged estate machinery, repair of the access road, and starting to save for the next major re- thatching and other roof repairs in a few years, time. Page 6
The Society of Mary and Martha Trustees. Report (continued) Animal Bam Conversion. Allocations to this project have been made by the Trustees from unrestricted funds and so far£38,800 has been spent on designs. planning application and feasibility assessment. Fresh designs were prepared during 2023 in response lo evolving needs and circumstances and we anticipate making a fresh planning application in 2024. £92,162 Speclfic targets for 2024 During 2024 we will be continuing to work hard to ensure that our Gore day to day ministry is able to benefit guest5 Sustainably at Sheldon and online as we continue to manage the now largely hidden cost5 of health unpredictability in the ongoing pandemic. We will continue providing support for people in ministry, especially at times of stress and crisis. We will run an interesting and varied programme of retreats through the year. We will design additional promotion for Sheldon as a good venue for a variety of adult groups in order to increase this type of booking. We will put in a fresh planning application for the Animal Bam conversion. Upgrading of our electricity supply is sd)eduled for September. We will continue work on the future prcofing of technical infrastwcture ahead of the national copper switch-off in 2025. We would reiterate the eadier remarks that these detailed expenditures are effectively the scaffolding which makes possible the necessary, hidden work in individual lives. Final formalities Govemance and Management The charitrfs governing instrument is the Deed of Trust dated 10th February 1987. The charity's Trustees are elected by majority Vote of existing Trustees. Trustees serve for terms of 2, 3 or 5 years and are eligible to stsnd for re-election when their ti?rm expires. The Chair is elected by the Trustees. The Warden is enthled to nominate ¢andidates for consideration by the Trustees. Trustees are given an induction to the running of the charity by the Warden, and trained in the responsibi1Sties of trusteeship by the Chair. The Trustees currently have a minimum of 0 meetings per year. Where possible these include an ovemight vlsit to give time for in depth discussions. They make their decisions by majority vote. Additional meetings are convened as needed in person or online, with a minlmum of four trustees to provide a quorum. The Warden is responsible for day to day management of the charity a d leadership of the Sheldon Communlty. In order to balance representation the Trustee Boa d includes representative5 of beneficiaries and the Community. In consideration of relative numbers it wa5 decided in 2014 that non-community Board members should remain in the majority. The Charity Commission have provided helpful advice on this prosS. The Sheldon Community has its own Rule of Life and domestic decision making which is independent of the Trustees. Sheldon Ltd is a subsidiary trading company which is OllY owned by the charity and all its profits are gift aided to the charity. Risk Assessments Fire Safety - a risk assessment has been carried out of thE entire premises, supported by staff training and routine checks. Portable Applian Testing (PAT) is undertaken biannually for all electrical appliances, plus a rolling programme of five yearty electrical in5tall8tion certrfication. Page 7
The Society of Mary and Martha Trustees. Report (continued) H8afth and Safety at Work - a risk assessm8nt has been und8rtaken for all public areas. staff practices and public events. plus product assessment for COSHH. Employm&nt Legislation all 5tsff and community have job descriptions plus induction, disciplinary and grlevance prOdureS in place and re1ve the ststutory paid holiday allowance. Pensions - contributions for all staff, in line with auto-enrolment rules, a paid into the NEST scheme. Safeguarding the Trustees take the safety of children and vulnerablelat risk adults seriously and are committed to safe recruitment procedures and staff training to maintsin a high level of Vigilance. Th8 Truslees appointed Lynda Barley as Lead Truste8 for SafeguardirwJ Confidéntiality 8nd Whistleblowing policies ar8 also in place. GDPR and CyberseGurity - the Trustees take the protethon of personal data seriously and take professional advice to ensure that both technical and human safeguards aro maintained. Statement of Trustees. Responslbllltles The trustees are responsible for preparing the trustees, report and the financlal stalements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicab18 to charities requires the trustees to prepare financial stat8ments for each financial year which glve 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 financlal 51atements, the trustees are required to.. se18Ct suitsble accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and pnjdent: state whether applicable accounting stsndards have been followed. subject to any materlal departures disclosed and explained in the financlal statements: and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are r8sponsible for keeping proper accounting remrds that disclose with reasonab18 accuracy at any time the financial position of the charity and enablè them lo ensure that the financial statements comply with the Charities Act 2011, the Charities {Accounts and Reports) Regulallons 2008. and the provlsions of the constilution. The trustees are also responslble for safeguarding the assets of th8 charity and hence for taking reasonable steps for the prev8ntion and detection of fraud and olher irregularities. The trustees are responsible f& the maintènance and integrity of the corporat8 and financial infomption included on the charitable companys website. Legislation goveming the preparation and dissemination of financial statemenls may differ from legislation in other jurisdicticns. The annual report was approved by the trustees of the charity on b8half by: and signed on It5 Ik.0 ,,J4L$2)4 Rev C Robson Trustee Trustee Page 8
The Society of Mary and Martha Independent Auditorfs Report to the Members of The Society of Mary and Martha Opinion We have audited the financial statements of The Society of Mary and Martha (the 'charity') for the year ended 31 December 2023, which comprise Ihe Statement of Financial Activities. Balance Sheet. Cash Flow Statement. and Notes to Ihe Financial Statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparalion is United Kingdom Accounting Standards. comprising Charities SORP FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generdlly Accepted Accounting Practice). In our opinion the financial ststements= give a true and fair view of the stste of the charity's affairs as at 31 December 2023 and of its incoming resources and applicalion of resources. including its income and expendilure. for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with Intemational Standard5 on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those stsndards are further described in Ihe auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and w8 have fulfilled our other elhi¢al responsibiliti&s in accordance with these requirements. Wé believe that the eudlt eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audillng the financial statements, we have conduded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's abilty to continue as a going concern for a period of al least twelve months from when Ihe original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going Conrn are described in the relevant sections of this TeporL Other information The trustees are responsible for the other infonnation. The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report Ihereon. Our opinion on the financial statements doe5 not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fom of assurance condusion thereon. Page 9
The Society of Mary and Martha Independent Auditor's Report to the Members of The Society of Mary and Martha (continued) In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so. consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtalned in the audit or otherwise appear5 to be materially misststed. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether Ihere is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have performed. we conclude that there is a material misstatemenl of this other infomiation, we are required to report that fact. W8 have nothing to report in this regard. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the Gharity and its environment obtsined in the course of the audit, we have not identffied material misstatements in the Trustees, Report. We have nothing lo report in respect of the following matters where the Charities (Accounts and Report) Regulations 2008 requires us to report to you if, in our opinion: adequate accounting records have not been kept. or retums adequate for our audit have not been received from branches not visited by us; or the financial stat8m8nts are nol in agreement with the accounting records and retums. or certain disdosures of trustees remuneralion specffied by law are not made; or we have not received all the infom)ation and explanations we require for our audit. Responsibilities of trustees As explainéd more fully in the Ststement of Trust88s' Responsibilities (set out on pagé 8), the trustees are resFonsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of financial stat6m8nts that are free from material misslatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charivs abilty to continue as a going ncern. disclosing. as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistlc aftemative but to do so. Audttor Responsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report Ihal includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee thal an audit conducted in accordance with ISAS (UK) will always detect a material misststement when it exisls. Misslatements can arise from fraud or érror and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial stalements. The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below: We identified areas of lavts and regulations that could reasonably be expecled to have a material effect on the financial ststements from our general commercial and sector experience and through discussion with the trustees and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-complianc8 throughout the audit. Page 10
The Society of Mary and Martha Independent Auditorfs Report to the Members of The Society of Mary and Martha (continued) The Charity is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation. and other charity legislation. The Charity is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment. anti-bribery. anti-money laundering and rtain aspects of charity legislalion. Owing ta the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in Ihe financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there retnains a higher risk of non-detection of irregularilies. as these may involve collusion. forgery. intentional omissions, misrepresentations. or the override of intemal controls. We are not responsible for preventing non-complian and cannot be expected to delect non-complian with all laws and regulations. As part of an audit in accordance with ISAS (UK). we exercise professional judgmenl and maintain professional sc8Pticism throughout Ihe audit. We also: Idenlify and assess the risks of material misststement of the financial ststements, whether due to fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not d8t8cting a material misstatemenl resulting from fraud is higher than for one r8sulting from eOr. as fraud may involve collusion. forgery. intentional omissions. misrepresentations, or the override of internal control. Obtain an understanding of Intemal control relevant to the audlt in order to design audit prOdureS that are appropriat8 in th& circumstances. but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the rea50nab18ness of accounting esllmates and related disclosures made by the trustees. Condude on the appropriateness of the twst88s' use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitvs ability to continue as a going concem. If wè conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, rf such disclosures are inadequate, to modify our opinion. Our conclusion5 are based on the audit evidence obtained up to the date of our auditorfs report. Howevér, future evénts or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disdosures, and whether the financial statements represent the undedying transactions and events in a manner that achieves fair presentation. We communicate with those charged with g0Veman regarding, among other matters. the planned scope and timing of the audil and significant audit findings. including any significant deficiencies in internal control that we identify during our audit. A further description of our responsibilities is available on the Financial Reporting Council's Vbsite at: www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Page11
The Society of Mary and Martha Independent Auditor's Report to the Members of The Society of Mary and Martha (continued) Use of our report This report is made solely to the charity trustees, as a body. in accordance with section 144 of the Chartties Act 2011 and regulations made under section 154 of that Act. Our audrt work has been undertaken so thal we might State to the trustees those matters we are required to State to trustees in an auditors. report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and its trustees as a body. for our audit work, for this report, or for the opinions we have formed. Westcotts (SW) LLP. Statutory Auditor 47 Boutport Street Barnstsple Devon EX311SQ Page 12
The Society of Mary and Martha ststement of Financial Activities for the Year Ended 31 December 2023 Unrestricted funds Restricted funds Total 2023 Total 2022 Note Income and Endowments from: Donations and legacies Charitable acts'vities Other trading activities Investment income Other income 152,654 245,310 36.257 20.215 41,587 93,195 245.849 245.310 36,257 20,215 41,587 256,805 228.181 34.601 13.211 45.377 Total income 496,023 93.195 589,218 578,175 Expenditure on: Charitable activities (524.319) (98,571) 1622,890) (691.526) Totsl expenditure Gainsllosses on investment assets (524.319) (98.571) 1622,890) (691.526) 43,215 43.215 (54,811) (168.162) Net incomel(expenditure) 14,919 (5.376 9,543 Net movement in funds 14,919 (5.376) 9.543 (168,162) Reconciliation of funds Totsl funds brought forward 4.805.834 2.347 4.808,181 4,976.343 Total funds carried forward 21 4,820,753 (3,029) 4,817,724 4,808,181 All of the charity's activities derive from continuing operations during the above Iwo periods. The funds breakdown for 2022 is shown in note 21. The notes on pages 16 to 32 form an integral part of these financial statements. Page 13
The Soclety of Mary and Martha (Registration number: 327394) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Intangible assets Tangible assets Investments 13 14 15 5,199 3.801,281 396.692 4.203,172 3,783,591 439,907 4,223,498 Current assets Stocks Debtors Cash at bank and in hand 16 17 18 5,476 44.778 630,670 4,899 44,392 658,608 680,924 707,899 Credltors: Amounts falling due within one year Net current assets 19 71,6981 (87.890 609,226 620,009 Total assets less current liabilitles 4,832.724 4.823,181 Craditors: Amounts falllng due after more than one year 20 Net assets (15.000 4,817.724 (15,000) 4.808,181 Funds of the charity: Restrlcted Income funds Reslricled funds (3.029) 2,347 Unrestrlcted Income fund5 General unrestrided funds Unrestricted Endowment funds 4,503.038 317,715 4,516,967 288,867 Total unrestricted funds 4,820,753 4.805,834 Total funds 21 4,817,724 4,808,181 The financial statements on page5 13 to 32 were approved by the trustees, and authorised for issue on ....-.....-.-....-.. and signed on their behalf by. Rev F Wright Trustee Rev C Robson Trustee The notes on pages 16 to 32 form an inle9ral part of thes8 financial ststements. Page 14
The Society of Mary and Martha Cash Flow Statement for the Year Ended 31 December 2023 2023 2022 Note Cash flows from operating activities Net cash incomel(expenditure) 9.543 (168,162) Adjustments to cash flows from nonvcash items Depreciation Amortisation Invesitnent income Loss on disposal of tsngible fixed assets Revaluation of investments 17,690 5.199 120.215) 18.994 12.864 (13,211) 8,334 54,811 (86.370) (43.215) (30,998) Working capital adjustments {Increaseydecrease in stocks {Increase)Idecrease in debtors (Decrease)lincr8as8 in creditors Increase in deferred income 16 17 19 20 (577) <386) (26,864) 10,672 603 6.710 19,152 3.741 Net cash fflows from operating actNities (48.153) (56,164) Cash flows from Investlng activities Interest receivable and similar income Purchase of tsngible fixed assets Sale of tangible fixed assets Sale of investments 20,215 13,211 (55.532) (6,781) 20,000 14 Net cash flows from investing activilies 20.215 {29,102) Cash flows from financing activities RepayTnent of loans and borrowings 19 (10.000) Net decrease in cash and cash equivalents (27,938) (95.266) 753.874 Cash and cash equivalents at 1 January 658,608 Cash and cash equivalents at 31 Dember 630,670 658.608 All of the cash flows are derived from continuing operations during the above twa periods. The notes on pages 16 to 32 form an integral part of these financial slatements. Page 15
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 1 Accountlng policies Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. Basis of preparation The Society of Mary and Martha meets the definition of a public benefft entity under FRS 102. The accounts (financial slatements) have been prepared under the historical cost nVenI10n with items recognised al cost or transaction value unless otherwise stated in the relevant note(s) to these attounts. Going concern The trustees consider that there are no material uncertainties aut the charitys ability to continue as a going concern. Exemption from preparing group accounts The charty is not required to pr8par8 consolidated accounts in acwrdance with the Charbties Act 2011 on the basis that the charity and its subsidiary undertaking comprise a small group. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core fvnding or are of a general nature is recognised when the charity has enlltlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donatlons and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grdnts have been met. Where performan conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balan sheet as defeed income to be released. Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which. it has been received. Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods., or The donor has imposed condilions which must be met before the charity has unconditional entitlement. Page 16
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Investment income Dividends are recognised once the dividend has been declared and notification has b&8n received of the dividend due. Expenditure All expendilure is recognised once there is a legal or constructive obligation to that expenditure. it is probable setuement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charitable activities Charitsble expenditure comprises those costs incurred by the charlty in the delivery of its activities and services for its beneficiari8s. It indudes both costs that r2n be allocated directly to such activities and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests s8t out in Paragraph 1 Schedu18 6 of the Finan Act 2010 and thérefore it m88ts the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity 15 Potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Ad 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent thal such income or gains are applied exdusively to charitable purposes. Intangible assets Intangible assets are slated in the Balance Sheet at cost less accumulated amortisation and impairment. They are amortised on a slraight line basis over their estimated useful lives. Amortisation Amortisation is provided on intangible fixed assets so as to write off the cost. less any estimated resUal value, over their expected useful economic life as follows= Asset class Hub Amortisation method and rate 20°/o Straight line Tangible fixed assets Individual fixed assets costing £10.000 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to writs off the cost or valuation, less any estimated residual value. over their expected useful economic life as follows: Asset class Fixtures and fittings Depreciation method and rate 20 /0 Straight line Page 17
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Computers Tractors & vehides Freehold land and buildings 330/0 Straight line 250A reducing balance Not depreciated Fixed asset Investments Fixed asset investments, other than programme related investrnents. are included at market value at the balan sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year. or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year arKI are credited or charged to the Statement of Financial ActNities based on the market value at the year end. Stock Stock Is valued at Ihe lower of cost and estimated selllng price less costs to complete and sell, after due regard for obsolet8 and slow moving stocks. Cost is detemiined using Ihe first-in, first-out (FIFO) method. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-temi highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignfficant risk of Change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restrided income funds are those donated for use In a particular area or for specific purposes. the use of which is restricted to that area or purpose. Financial instruments Classiffcation Financial assets and financial Irabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instrumenls are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charty after deducting all of its liabilities. Page 18
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction (x)stsl. except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price exGluding transaction cost5). unle55 the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payment5 discounted at a market rate of interest for a Similar debt instrument. FInarla1 assets and liabilities are only offset in the ststement of financial position when, and onty when there exists a legally enforceable right to set off Ihe recognised amounts and the charity intends either to settle on a net basis. or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the cash Ilows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charty, despite haviThJ retained some, but not all, significant risks and rewards of ownership. has transfeed control of Ihe asset to another party. Financial liabilities are derecognised only when the obligation specified in the contracl is discharged, ncelled or expires. Investments Investments in subsidiarie5 and associates are measured at ¢ost18ss impairment. For investrnents in subsidiaries acquired for consideration induding the issue of shares quallfying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair valu8 of other consideratron. Any premium is ignored. 2 Income from donations and legacies Unrestricted Restricted funds funds Total Unrestrlcted Restricted 2023 funds funds Tolal 2022 Grants Donations Legacies Tax refunds Donations from Sheldon Ltd 85,000 7.304 85.000 123.108 3,500 23.711 85,000 10,084 85.000 139.654 1.000 26.681 115,804 3,500 22,820 129.570 1,000 25.075 891 1.606 10.530 10.530 4,470 4,470 152,654 93,195 245.849 160,115 96.690 256,805 Pag8 19
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 3 Income from charltable activities Total 2023 Total 2022 Contributions from guests Programme Events Individual Retreats Catered Groups 129.346 109,744 6220 116,103 90.782 21,296 228.181 245,310 All income reiVed from charitable activities in 2023 and 2022 was unrestricted. 4 Income from olher trading actlvltle$ Total 2023 Total 2022 Trading income Fundraising events 17,413 18.844 15,580 19.021 36.257 34,601 All income reNed from trading activities in 2023 and 2022 was unrestricted. 5 Investment Income Total 2023 Total 2022 Interest receivable and similar income: Interest receivable on bank deposits 20,215 13,211 All income received from investment income in 2023 and 2022 was unrestricted. Page 20
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 6 Other income Total 2023 Total 2022 Rental income Covid-19 business support Statutory grants Other income 35.000 35.250 4.000 2.171 3.956 1.044 5,543 41,587 45.377 All other income in 2023 and 2022 was unre5triGtsd. 7 Expendlture on ¢harltsble actlvities Unrestricted Restricted funds funds Total Unrestricted Restrlctsd 2023 funds funds Total 2022 Charitsble activities 524.319 98,571 622,890 583,222 108,304 691,526 Page 21
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The Society of Mary and Martha Notes to the Financlal Statements for the Year Ended 31 December 2023 (continued) 8 Expenditure attrlbutable to Restricted Funds The expenditure relating to the Communi Fund is included within community wages. The costs attributable to the charitys work for An lican Cler .. are spread across the whole range of categories of expenditure incurred in fulfilling the Societys charitable purpose. The £50.000 (2022: £50.000) is therefore shown as an allocation from Ihe lolal expenditure on charitsble activities. The direct Sheldon Hub expenditure covers ongoing expenditure on the IT structure of the resource. the development of content, and publicity. Fundraising Voluntary income Premises Charitable Costs Activities Total 2023 Basis of Allocation Direct Apportioned Direct Apportioned Trading Community Fund Angltcan Clergy Sheldon Hub 2.347 50,000 26.224 20,000 2,347 50.000 26.224 20.000 98,571 98.571 9 Net incomlngloutgolng resources Net OLrtgoing resources for the year indude- 2023 2022 Audit fees Profit on disposal of tangible fixed assets Depreciation of fixed assets 17,905 17,051 (8,346) 31.858 22.889 10 Trustees remuneration and expenses One Trustee reIVed remuneration as disclosed in note 21. Travel expenses of £445 were paid to 2 Trustees during the year {2022'. £192 paid to 1 Trustee) Page 23
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 11 Staff costs The aggregate payroll costs were as follows.. 2023 2022 Staff cosls durlng the year were: Wages and salaries Social securty costs Pension costs Council Tax for Community member5 154,504 132 13.924 6,490 152,296 4.128 12,391 4.458 175,050 173,273 The monthly average number of persons (including senior manag8ment I leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2023 2022 No 21 Staff 23 No employee received emoluments of more than £60.000 during the year The total employee benefits of the key management personnel of the charity were £28.244 (2022 - £29,592). 12 Auditors. remuneration 2023 2022 Audit of the financial statements 14,633 14,051 Other fees to audltors All other noaUdIt services 3.272 3,000 Page 24
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 13 Intangible fixed assets Hub Total Cost At 1 January 2023 201,957 201.957 At 31 December 2023 201,957 201.957 Amortisation At 1 January 2023 Charge for the year 196,758 5,199 196,758 5.199 At 31 December 2023 201,957 201.957 Net book value At 31 December 2023 At 31 December 2022 5,199 5,199 This asset is Tr Sheldon Hub. whith is an online mutual support resource for p8op18 in ministry. provided frée of charg8 www.sh8ldonhub.org Page 25
The Soclety of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 14 Tangible fixed assets Furniture and equipment Land and buildings Tractors & Vehicles Computers Total At 1 January 2023 Disposals" 4.008.786 425,535 {369.858) 130.339 151,292 4.715,952 (143.836) (513,694) At 31 December 2023 4.008.786 55.677 130.339 7.456 4.202.258 Depreciation At 1 January 2023 CharyJe for the year Eliminated on disposals" 268.631 415.531 79,217 151,292 914.671 4.909 12.781 17.690 (369,858) 1143.836) (513.694) At 31 December 2023 268.631 50.582 91.998 418.667 Net book value At 31 Decembér 2023 3,740.155 5,095 38,341 3.783,591 At 31 December 2022 3,740.155 10.004 51.122 3,801,281 'In line with the chariws upjated fixed assel tK)licy. only assets in excess of £10,000 are now capitalised and induded within tangible fixed assets. As a result of the revised policy. assets wilh cost totalling £513.694 and associated hisloriral depreciation totalling £513.694 were removed from the xed asset register. Page 26
The Society of Mary and Martha Notes to the Financlal Statements for the Year Ended 31 December 2023 (continued) 15 Fixed asset Investments Investments Subsidiary undertakings Cost At 1 January 2023 100 At 31 December 2023 100 Net book value At 31 D8C8mber 2023 100 At 31 December 2022 100 Other investments Llsted investments Cost or Valuation At 1 January 2023 Revaluation 396.592 43,215 At 31 December 2023 439,807 Net book value At 31 December 2023 439.807 At 31 December 2022 396.592 Details of undertakings Details of the investments in which the charity holds 200A or more of the nominal value of any class of share capital are as follows.. Subsidiary undertaking Country of incorporation Proportion of voting rights and shares held 2023 2022 Principal activity Holding Sheldon Ltd England and Wales Ordinary shares Propety management 1000 The profit for the financial period of Sheldon Ltd was £15,442 (2022 - £4,465) and the aggregate amount of Capitsl and reserves at the end of the period was £8,559 (2022 - £3,647). Page 27
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 16 Stock 2023 2022 Stocks of goods for resale 5.476 4.899 17 Debtors 2023 2022 Trade debtors Due from Sheldon Ltd Prepayments Other debtors 18,000 14.537 4.470 25.385 21.778 5,000 44,778 44,392 18 Cash and cash equivalents 2023 2022 Cash at bank Short-term deposits 134,048 496,622 630.670 199,951 458,657 658,608 19 Credltors: amounts falling due within one year 2023 2022 Trade creditr)rs Other taxation and social security Poslponed booking credits Pension scheffle creditor Accruals Deferred income 37,814 871 5.000 1.081 12.519 14.413 59,213 10,000 14.936 3.741 71.698 2023 87,890 2022 Deferred income al 1 January 2023 Resources deferred in the period Amounts released from previous period5 3,741 14.413 (3,741) 6.424 3.741 (6.424) 3.741 Defeed income at year 8nd 14,413 Page 28
The Society of Mary and Martha Notes to the Flnanclal Statements for the Year Ended 31 December 2023 (continued) 20 Credltors: amounts falllng due after one year 2023 2022 Other loans 15,000 15.000 Page 29
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The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) The Sheldon Hub is an online mutual support resource for p80ple in ministry. The project was originally funded by a specific appeal and all income is reported through a restricted reserve. While the appeal continues, costs will continue to be charged to the restricted fund. The deficit during the year was cover8d by a grant received in early 2024. The An lican Cler Fund relates to the general work of the Society to support clergy in the Church of England and their families who are experiencing mentsl andlor physical illness and who may have limited financial resources thus making them unable to meet the full costs of staying at Sheldon. The work of the Society In thls area Is supported by the very generous grant of £50,000 by the Cle ort TrusL The Communi Fund represents donations made specifically for the Community and they are distributed through the payroll into the Communiws Communal account. 22 Analysis of net assets between funds Total funds at31 December 2023 Unrestricted funds General Restricted funds Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year 3.783,591 439,907 680,924 (68,6691 (15,000 3,783,591 439.907 680,924 (71,698) 15,0 (3,029) Total net assets 4.820.753 3,029 4.817,724 Total funds at31 December 2022 Unrestricted funds General Restricted funds Intangible fixed assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Creditors over 1 year 5,199 3.801,281 396,692 705,552 {87,890) (15.000) 4,805,834 5,199 3.801.281 396,692 707,899 (87,890) (15,000) 4.808,181 2.347 Total net assets 2,347 Page 31
The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 23 Related party transactions The Warden of the Society, Sarah Horsman is a director of Sheldon Ltd. Sheldon Ltd is a wholly owned subsidiary of the charity as detsiled in Note 15. Neither the Warden. nor any Trustee. received any income from Ihal cx>mpany. The company used some of the Societys facilities on its site at Sheldon and paid for such use. The lotal paid in 2023 was £35.000 (2022: £35,000). The company gifted £10.530 {2022= £4.470) to the Society during 2023. At 31 December 2023 the Society was owed £Nil (2022- £4.470) by Sheldon Ltd. Mr Carl Lee lived on site as part of the community as a self-supporting member. He received no salary but living quarters and food Vre provided. His wife Mrs Susan Lee lived on site as a self-supporting member of Ihe communty with living quarters and food provided for most of the year. She has now moved into residential care and the charity contributes towards the costs (2023: £26,599) Miss Hillary Hanson. lived on site as part of the community, receiving living quarters and food as other mernbers of the Community. In November 2016 she was appointed as a trustee with the approval of the Charity Commission. She received a total remuneration of £13.290 induding pension contributM)ns (2022: £13.423). During the year £6,485 (2022: less than £10.000) was pald to the son of Mr Carl Lee and £2.408 (2022: less than £4.000) was pamj to the daught8r of Mr Carl Lee for work at Sheldon. The contracts of emFloyment are the sarne as any other employees of the charity. During ihe year. £504 {2022: £1,428) was paid to the son of Mr Carf Lee for the rental of various equipment for use at the Shddon site. Page 32