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 pe￿on 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 cOr￿ent 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 allowan￿S, 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 re￿nt 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 ne￿Ork 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 reSe￿e5. 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 pro￿sS.
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 prO￿dureS in place and re￿1ve 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 Con￿rn 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 e￿Or.
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 prO￿dureS
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 V￿bsite
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 De￿mber
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 a￿ut 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 defe￿ed 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
res￿Ual 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.
FInar￿la1 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 transfe￿ed 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 re￿iVed 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 re￿Ned 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 re￿IVed 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 no￿aUdIt 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
Defe￿ed 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 V￿re 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