Charty reglstration number. 327394 The Society of Mary and Martha fi* th• Year Ended 31 De(xnber 2024 heldon li￿.&￿141 ILil .]iin￿LIS The Society of Mary and Martha Contents (contlnued) Referenca arKI Administratlve D•tai1s Trustees, Rewt 2to10 Indopendent Audltorn, Report 11to14 SL3tement of Flnanclal Activltle8 15 Balanca Sheet 16 Cash Flow Statement 17 Nrtes to th6 Flnandal Stat•m•nts 18to34 The Society of Mary and Martha Referencè and Admlnlstrative Detalls Ch•rlty Reglstratlon Numbor 327394 Trusteeg: MTS l Gwty Rev Dr L Badey Mi59 H Hanson Rev F Wrfght MrCLee Rev C Robson (resigned 16 October 2024) Mr A Day (resigned 24 November 2024) Mrn J Henretty trIPmll Rev A L￿0 (appolntad 23 November 2024) R•v N Summeffield (•ppointed 23 Novernbw 2024) W•rd•n Dr S Horsman Prtnclpl Offlc• Sheldon Sheldm Lane Dodthscombslelgh Exeter W¢stcott5 (SW) LLP 47 Boutyjort StrBet Bamstaple EX31 1SQ Page 1 | | | | i ## The Society of Mary and Martha ## Trustees’ Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024. ## Sheldon - heart and soul for ministry We created Sheldon because Christian ministry is a profoundly complex and chatlenging vocation — often rewarding, but carrying significant risks to physical, mental and spiritual health. People wounded or broken by ministry needed a reliable and trustworthy resource independent of the structures within which they live and work. We have been sustaining and growing this work for over thirty 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 person 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 run the Sheldon Retreat. Sheldon is both their home and place of work. The team also includes non-resident salaried staff and volunteers who stay for a few days at a time. Sheldon has ten self-contained quarters for private retreatants, plus fifteen en-suite bedrooms in the Long Barn and Pound House. Most rooms are twin 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-style labyrinth and 45 acres of gardens and grounds. A local masseur provides physical therapy. Experienced members of the community and volunteer team are available to people in ministry with 1:1 sessions across a range of needs from spiritual/retreat accompaniment to in depth therapeutic support. We designed all the ingredients of Sheldon to help guests with restoration of body, mind and soul. Sheldon’s own events programme includes led retreats and workshops and R5 weeks (Read, Rest, Relax, Retreat, Recuperate). These provide multiple levels of spiritual, psychological and physical renewal for guests. For private retreats, guests can choose from a menu of options to meet their needs. Some resources are open to everyone while others are exclusively for people in ministry as our core beneficiaries. Some of the Sheldon accommodation is available for clergy, church, wellbeing, educational and extended family groups to run their own programmes. As well as providing valuable resource to these groups in its own right, this helps sustain the overall operation by sharing some of the overhead costs of running Sheldon. The Sheldon Hub has provided the framework for a confidential online resource for people in ministry since 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 space is a multi-faceted art. It includes the care of the built and natural environment, preparation and serving of both rooms and food, kind and aware hosting, the infrastructure of utilities and technology, and reliable communications at all levels. It takes commitment, diligence and attention to detail. Page 2 | } ## The Society of Mary and Martha ## Trustees’ Report (continued) 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 of course our work is constantly changing and growing in response. Maintaining 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 online community and day to day running of the organisation. Sheldon has continued to fulfil our core vision of supporting people in ministry while successfully navigating a range of challenges. - In our 2023 report we laid out the following specific projects for 2024. - 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 scheduled for September. * We will continue work on the future proofing of technical infrastructure ahead of the national copper switch-off in 2025. - During 2024 we were able to progress these projects successfully as follows - The new website for groups will be live at Easter 2025. The project was begun in 2019 but put on hold when needs changed significantly during the early phases of the pandemic. In the intervening years Sheldon has refined its focus on the type of groups we wish to attract, and this evolving focus has gone hand in hand with steady upgrades in the quality of all guest accommodation. - * The new design for the Animal Barn conversion was submitted for planning consent in December 2024. The design for the existing consent approved 3 years ago retains the existing superstructure for a meeting room and 2 self-contained units of accommodation. The new design makes more elegant and effective use of a similar footprint for a better meeting room and ancillary facilities. 3 new self-contained units with better disabled access will be suitable for guest or community quarters. - - The upgrade of our electricity supply from the 1950s 2-phase to a modem 3-phase supply was successfully completed in January 2025 after multiple delays (payment was made in 2023). The project was expanded to include installation and commissioning of a 30KW solar roof array. We had wanted to do this since the Machine Bam was built in 2008 but the 3-phase supply was a pre-condition. This is a big step in reducing Sheldon’s carbon footprint. - + We expended considerable time and effort to bring high-speed fibre to the premises ahead of the national copper switch-off scheduled for 2025. Just as we thought everything was in place, the switch-off was put back to 2027 and rural fibre roll-out in our area was put on hold. We have started researching alternative provision to meet our data and telephony needs. The financial details which follow can be thought of as the necessary scaffolding which enable us to serve our beneficiaries. They are not end goals in themselves, but the means to the charity’s ends. Our focus is always on what will enable guests to experience deep and lasting benefit from their time at Sheldon. **----- Start of picture text -----**
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| i : | ## The Society of Mary and Martha ## Trustees’ Report (continued) In this section we provide a step by step commentary on the accounts paying particular attention to items where there is a significant change on the previous year, and/or where it is a helpful prompt to describe the activities of the charity during the year. Numbers in square brackets refer to the formal notes to the accounts on pages 18 - 34. Figures are rounded to the nearest £1,000 for ease of reading. The SOFA (page 15) shows 2024 to have been reasonably consistent with 2023. 1. Overview of income Total income was higher than the previous year, which was largely as a result of some generous grant funding. Bookings income had risen slightly in 2023 but reverted to 2022 levels in 2024. - a. Donations, grants and legacies [2]. Friends continue to be the mainstay of voluntary support with 650 people contributing a total of £78,000 in regular standing orders. These have held up very well in 2024, but we anticipate giving levels being harder to maintain through 2025. The remainder is made up of individual gifts, gift aid tax refunds and gifts from churches and other communities. The restricted donations comprise £60,000 from the Clergy Support Trust for Sheldon’s work with Anglican clergy, £50,000 from The Henry Smith Trust for the Sheldon Hub, and an anonymous £50,000 for solar panels and associated infrastructure. Additional amounts were donated individually for solar panels, supporting the online Sheldon Hub and supporting the resident Sheldon Community. - b. Contributions from guests [3]. Overall, bookings held up very well during the first half of the year despite the challenges of illness within the community. We had not forecasted the drop in numbers during the autumn which felt like reduced confidence typically associated with recession, although reduced publicity could also have contributed. Overall, the 2024 occupancy and income came in at over 90% of recent years which was a remarkably good continuity of service to guests in the circumstances. - c. Other trading activities [4]. The shop and bar are facilities that serve guests in residence and are run at a modest profit. At the beginning of 2025 the residual stock (value £5,000) was bought by the new wholly owned subsidiary company Sheldon Lane Ltd which will be responsible for future trading. Two fundraising concerts in the open air theatre went ahead successfully raising a similar amount - nearly £6,000 - to the three the previous year. - d. Investment income and rent [5,6]. Continued high bank interest rates brought good returns on investments. Rent is paid by Sheldon Ltd which is the charity's other wholly owned subsidiary company. Page 4 | The Society of Mary and Martha Trustees. Report (contlnued) Note [71 shows the breakdown of all the day to day costs involved in running the life and work of the Sheldon Retreat and the Sheldon Hub. The table analyses in a complex way for fonnal reporting purposgs. We highlight figures helpfvl to understsnding the costs of the rninistry. and any partiuAar changes during the year. Staff. Staff member5 assist the communty V•ilh all aspects of Sheldan'5 work incluthng adfflini5tration, catering, housekeewng, deaning and estate work. Our bookkeeper retired after 27 years of service a smooth handover to her successor. Some costs were Iransferred from audit, accountancy and bookkeeping Into staff costs as this role is now undertaken a5 dlrect employment rather than self-employed. After Easter 2025 our technlcal admlnlstrator ￿111 be moving on after 51A year5 of service. We have tsken thls opportunty to reworganise the staffing of reception, organisational administration and IT needs, crealing several smaller roles instead. One new part Ime staff rnember was hired in 2024. Community and Alongsldors. The lrfe of the resident communty 18 at tho heart of Sheldon with its commitment to stsbility. stewardship and servanthood. Three people have spent a year as Alongsider5 testing their vocation to communty life. One has progressed to becomlng • probationary member ol the cOmm￿ty and t6vo have moved on elsewhere. On• of the thre• pernianent comrnunlty members Ibving at Sheldon had lengthy cancer treatrnent and rehabilitation before retumlng to work. Communrty members and Alongsiders receive a modest financial allowance and pension contribution5 ￿lIe ihelr accommodatlon and food &8 accounted for withln the total costs of running Ihe site. Trustees previously made financial provlsion for reliremont and 5UPPOrt in old8r age in the Cornmunity Later Years Re$eNe. Th1$ yeai money was spent meeling p05t-operative rehabilitalion needs for one member and third-party topup for residential care needs for a fourth who is no longer able to five at Sheldon. Communty and Alongsidar allowancas, pènsions, councl lax and cara amounted to £109,000. Gu￿t load•rts are people invite to lead retreat5 on our programme. Vohjnteers have the oP￿￿n to dalm travel expertts atthough m•)y choose not to. Staff recruitment and traiThng costs are also included here. Food. catwrlng supplies and hous•k••pkng. Providing tasty, 9afe and healthy food is stll major item in Sheldon's budget al £32.000, alihouth we achieved 16% Savings agalnst 2023. The HDusekeeping leam takes prldg in provldkng Gkn and walkkept room5. Costs of £25.ODO indude deaning materlals, malntenance contracts. and ensuring broken or wom ffttings and fumishings are repaired or replaced prompuy. All 17 guest bed5 in the Long Bam were rep￿Ced in 2024. Bulldlng & grounds, malntenance and Our buildings house all our guests and voluntee[3 and are also home to the member5 of the resident communty. Many are grade tVK) li8ted and requlre careful ongoing malnlenan¢e. Roullne ￿$t5 include servicing and repairs to heating systems, plumblng, electrics and fire systems across the vthole slte keeplng Sheldon safe and comfortable for guests. The propty also comprises 45 acre5 of grounds inthding fields and woodlands for guests to enloy. The e5tste team undertook ongoing copplckng and large tree surgery due to disease and storm damage for safety, amenlty enjoyment arrfl environmental friendliness. We also carried out routine servicing of machinery, rnade ongoing improvements to V￿0dland paths and steps and rnantair￿d hedges. fences and paS￿re$. We a small breeding Ilock of rare breed sheep. grow fruit and vegetables, and maintain ljorde and shrnbberies. Total costs in this seclion are sho%w as E36.000, 30% against 2023. This is partly because much of the estate team's efft>rt through the autumn was drecled towards the trenching and otheT W(Yks associaled wilh the installation of >phase and solar. Most of the funding frJr this project received as restricted grants and donations, so the costs appear a$ the gross transfer betr￿en tsids on the SOFA (£47.000) not in this sedlon. Page 5 The Society of Mary and Martha Trustees. Report (continued) Eneryy and watsr. Ongoing efforts to enconomise on energy costs without impacting guest comfort achieved savings ot nearfy 30%. This Was a combinatr.on of improved contract te￿$, more effective use of our renevrables and better overall management. along with slightly reduced guest numbers. It ￿fj11 be interests'ng to see how we Gan reduce even fijrther below £41,000 in 2D25 ￿1th the new solar pane15 corning into use. Sheldon Hub costs.. IT, wages and publiclty. The online Hub continues be provided free of charge for its v￿d￿rangIng membershp of people in ministry. Funding comes from r8stricled grants supplemented by contributions from members. We planned 2024 on a 'maintenance' basis keeping direct cost5 Within the £25.000 grant fundlng from The Henry Smlth Trust. An additional grant of £25,000 latèr in the yeaT also covèred the apportioned costs for technical infrastructure and community time [8]. We are exploring ways of harnessing years 2 and 3 of this larger grant to rtrengineer aspects of the Hub to reduce running costs ft)r future financial sustainabubty. This work is dosely inwated with other infrastructure plans for Shel(k)n as M*hole. In•urnnco. The responsibiliti•s of th• trust￿5 include insuring against a ￿lde range of risks induding the buildings (many of wl#ch are thatched) and their contents, plus busine InterTUPtlon, and publlc, emFloyer and professional li&bilities, vehides. cyber. etc. The 2024 figures of £31.000 Is artlfi¢lalty inllated wld 2023 depressed due lo rn16-allocatlM between yeHrs. Th1& has been rectmled golng fr￿rd. Technlc•l Infrastructure. Thi5 indudes the notwork SO￿8r. wiTrle55 broadband. intemal WIFI. computers for all staff members, support c¢Jntracts, the database at the heart of Sheldon's operatSon8, and sof&vare Ilcenses totalllng £42,000. We have upgraded am computsr hardware as necessary to be ahead of MS Windows 10 end of lrfe in 2025 and carried out a software upgrad8 of our 5erv8r. The theatre webslte wornDting our fundraising concert6 vrds rebullt in 2024 to transition a￿pY from a bespoke content management system into the ￿lde￿ used Wordpre$$ platfomi. Thi5 first project developed our in-house s￿115 capacity to go on and create the new group bookings website. We plan to continue in th16 dlrectlon of developrnent a5 Y•E refresh the various aspects of our onllne Pfegencè. AudlL accountancy and bookkeeping• £22,000. Urrfortunately, the ¥alue of th• Sheldon property takes us over the threshold Into the expense a full audti reglrne whlch 18 not typical for a charity with our level of tumovar. We succ8s3fully transitloned to a cloud based p5atform in 2023, and in 2024 appointed a new bookkeepgr developed a papErles$ WQTknow. This sucGe5sfiJlty complete5 a 3 year woject to modemise our bookkeeping, improve rnanagement rePor￿n9 and make our accountlng more resilienL Prof•sslonal and logal fo•s. Ajmosl all of this expendlture (£29,000) was professional architect fees, biodiversity report and planning application costs for the proposed conversion of the Animal Bam. Like any large infrastructure project there are extensive preliminary Costs before being in a position to launch an appeal and move fopward towards actual construction. Ucensas and other guost faclllty costs. Licenses Include PRS. PPL, TV, premlses license and non-dcrfnestic rates. Guest facilities indude supplies for masseurs, the Art Shed. Library and chapels, We also provlde Covld protections including free test5 and mask5 for guests and staff. and vacdnations are made avallable for all staff. Depreclallon. There was additional depreciatton on the freehold propety as a resuft of a change in accounting estimate. This brings £40.000 of cost into the year1141 in addition to the ongoing depredation of equipment. vehicles and computers. The original capital expend6ture ilding the intangible ffixed asset of the Shekknn Hub is now fvlty amortised [13]. 3. Galns and losses on inveslments. These reflect the annual revaluations Df investments held for Ihe long tenn and are expected to $h¢Jw short term Iluctuations. The Gharity has a policy of holding low risk investments a¢r05s a spread gf Instlbjtlons. 2024 showed a modest gain of £16.000. Page 6 ## The Society of Mary and Martha ## Trustees’ Report (continued) The charity's net assets are valued at £4,870,000. However, four fifths of this is 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) [14]. Reserves. The charity's Reserves policy was adopted in 1998 and reviewed in 2018. The charity holds both restricted and unrestricted reserves. The trustees aim to maintain free reserves of £1,082,575 in order to ensure continuity for beneficiaries, capable of covering the following needs. £200,000 | Working Capital. Expenditure for the running of the charity is projected to be about £45,000 per month for the coming year so this would cover 4—5 months. £326,434 | Endowment Fund. The Trustees established this from unrestricted legacies to support the ongoing expenses of the day to Gay ministry and provide greater financial security for the future. This is Tett to be a prudent response ta the level of responsibilities the charity now carries— the upkeep of a working property valued at £3.7m, a community for whom Sheldon is their only horne, plus a salanied staff team. The Endowment Fund is held in a separate investment account {tis essential that extemal shacks (such a5 a pandemic, recession, international crisis) should not have the capacityto jeopardisethe survival of the charity nor its abilityto honour its commitments. £269,392 | Community Later Years Reserve. The Trustees established this Reserve to pravide for the community under the Later Years Provision policy. This is the framework for making appropriate provision for founder community members who have served with significant vocationai salary sacrifice for many years. The Trustees can make a resettiament grant if a member wishes to leave. Members may choose to continue working according to capacity beyond retirement age. This reserve can be used to provide for appropriate care at Sheldon or locally in the event of acute or long-term health needs. £191,481 | Cantingency and Replacements Reserve. This reserve was largety exhausted during 2022 with major renovation works to the Pound House. Modest surpluses in 2023 and 2024 have enabled us to begin rebuilding the reserve. Short term needs include replacing one car and some older estate machinery, repairing the access road, and 10-yearly maintenance of the thatched Farmhouse roof and repairs to the South Wing roof. We are also starting to save for the next major (30-year) re-thatching of the Great Barn and Pound House due around 2030. Page 7 | i | i | j ## The Society of Mary and Martha ## Trustees’ Report (continued) **----- Start of picture text -----**
£93,552 Animal Bam Conversion. Allocations to this project have been made by the Trustees
from unrestricted funds over several years. So far £69,017 has been spent on designs,
planning application and feasibility assessment Fresh designs were prepared during
2023 and 2024 in response to evolving needs and circumstances culminating ina
fresh planning application being submitted at the end of 2024.
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There are restricted funds of £21,550 bringing the free reserves to £1,080,859. Reserves held are therefore £1,716 less than the needs detailed above. We would reiterate the earlier remarks that these detailed expenditures are effectively the scaffolding which makes possible the necessary, hidden work in individual lives. - Ongoing work on IT infrastructure. Our goal is to ensure that Sheldon’s IT works seamlessly to ensure guests have the best possible experience of Sheldon. This includes where guests interact directly such as quality of phone lines or user experience on our websites and payment systems. We also need reliably error-free systems for team members so they can fulfil their roles effectively. It is easy for IT costs to creep up over time so we are reviewing and updating for cost-effectiveness in the medium to longer term. Our 3 year project to move all our accounting to a cloud based platform and develop a paperless workflow is now complete. We have started work on a multi-year project of succession planning for our “Legend” application. It was built as a bespoke application in 2013 to handle all our data for bookings, donations, mailings, bank reconciliation and Sheldon Hub validation and logins. The existing SQL database is sound, so we plan to build a new API (application programming interface) enabling the creation of up to 10 individual applications. These will handle role-based processes such as welcoming guests on reception, housekeeping team preparing rooms, cellarer team preparing meals, bookkeeper doing bank reconciliation, bookings administrator creating bookings. We have set aside £20,000 for 2025 to build the API and at least one application to achieve proof of concept and leam for next steps. We intend to make Legend progressively obsolete within 3 years to avoid risking system failure which would interrupt the smooth running of Sheldon’s retreat facilities. - Fabric repairs. We have set aside £15,000 to do the 10-yearly routine re-ridging of the thatched roof of the grade two listed Farmhouse. While the scaffolding is up we will carry out repairs to leadwork and slate coverings to resolve leaks in the adjoining South Wing roof. £5,000 has been allocated for repairs to the access road, and a further £5,000 to replace some doors and attend to maintenance on other external joinery. - * Publicity. Since 2020 Sheldon has not needed to undertake much publicity beyond emailing our mailing list as demand has been well matched to our available capacity. It is time now to expand our reach across all aspects of Sheldon’s individual, group and online ministry. We will build a new website to attract bookings from adult groups looking to benefit from Sheldon’s retreat environment. We will place more advertising in the printed church press and further develop our social media presence. - Recruitment. We will recruit to at least two new part time office roles created after the departure of Sheldon's technical administrator. As well as supporting guests in reception, they will be involved in the technical infrastructure developments and publicity work outlined above. Sheldon also seeks to recruit one or more Alongsiders either for a short term placement or to test their vocation for longer term life and ministry as a community member. As volunteers retire, we will continue to recruit new hospitality and workparty volunteers to be part of Sheldon’s ministry. Page & | i | ; i ## The Society of Mary and Martha ## Trustees’ Report (continued) Governance and Management The charity's 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 stand for re-election when their term expires. The Chair is elected by the Trustees. The Warden is entitled to nominate candidates for consideration by the Trustees. Trustees are given an induction to the running of the charity by the Warden, and trained in the responsibilities of trusteeship by the Chair. The Trustees currently have a minimum of two meetings per year. Where possible these include an overnight visit 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 minimum of four trustees to provide a quorum. The Warden is responsible for day to day management of the charity and leadership of the Sheldon Community. In order to balance representation the Trustee Board includes representatives of beneficiaries and the Community. In consideration of relative numbers it was decided in 2014 that non-Community Board members should remain in the majority. The Charity Commission have provided helpful advice on this process. 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 wholly owned by the charity and all its profits are gift aided to the charity. In 2025 Sheldon Lane Ltd is added on the same basis. ## Risk Assessments - The Trustees have identified the risks to which the charity is exposed, and have established systems to mitigate those risks. The Trustees affirm their ongoing commitment to implementation of all policies. » Fire Safety - a risk assessment has been carried out of the entire premises, supported by staff training and routine checks. - ¢ Portable Appliance Testing (PAT) is undertaken biannually for all electrical appliances, plus a rolling programme of five yearly electrical installation certification. - - Health and Safety at Work - a risk assessment has been undertaken for all public areas, staff practices and public events, plus product assessment for COSHH. - + Employment Legislation - all staff and community have job descriptions plus induction, disciplinary and grievance procedures in place and receive the statutory paid holiday allowance. - * Pensions - contributions for all staff, in line with auto-enrolment rules, are paid into the NEST scheme. - + Safeguarding - the Trustees take the safety of children and vulnerable/at risk adults seriously and are committed to safe recruitment procedures and staff training to maintain a high level of vigilance. The Trustees appointed Lynda Barley as Lead Trustee for Safeguarding - » Confidentiality and Whistleblowing policies are also in place. * GDPR and Cybersecunity - the Trustees take the protection of personal data seriously and take professional advice to ensure that both technical and human safeguards are maintained. Page 9 | | | ## The Society of Mary and Martha ## Trustees’ Report (continued) Statement of Trustees’ Responsibilities The trustees are responsible for preparing the trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give 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 financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - » make judgements and estimates that are reasonable and prudent, - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safequarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on iwWISizS and signed on its behalf by: Mle Ae... stl Neon. OG. Rev F Wright Mrs J Henretty Trustee Trustee **----- Start of picture text -----**
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‘ | The Society of Mary and Martha Independent Audltor's Report to the Members of The Soclety of Mary and Martha Opinlon We have audited the financial statements of The Society of Mary and Martha (the 'charity'> for the year ended 31 December 2024, vthich cornprise the Statement of Financial Activrti85, Balance Sheet. Cash Flow Ststement, and Notss to the Financial Statements, including a sumrnary of si9nifjcant accountlng policles. The Ilnanclal reporting framework that has been applied in their prepaTallon is United Kingdom Accounting Standards, comprising Charilies SORP - FRS 102 'The Financial Reporting Stsndard appllcable In the UK and RepubNc of Ireland. and applicable law (United Klngdom Generdlly Accèpted Accounting Pracll¢e). n our opinion the financial statements: give a true and falr view of the state of thè tharity's affairs as at 31 December 2024 and of its incoming resources and application ol resources. including its income and expenditure. ft)r the year then ended: have been properfy prepared in accordance wlth Unlted Klngdom Generally Accepted Accounling Practice; and have bean yepared In accordancè wlth tha r•quirements of the Charib'es Act 2011. B451s for oplnlon We conducted our audit in a￿Ordance th Intemallanal Standards on Audrling (UK) {ISA5 (UK)) arKt aFyllcable law. Our rnsponsibilitias under those sLqndards are further described in the auditor iesponsibillties for the audit of the financial statements seGtion of our report. We are independent of the charity in accordance th the ethlcal requirernerts that are relevant to our audit of Ihe fmancial st*ments in the UK, including the FRC'S Ethical Standard. and we have fulfilled our olher elhlcal responsibllltles In accordance with these requ¥Ements. We belleve that the audlt evidence we have obtsined 1$ sufflcient and appropriate to provide a basss for our oplnlon. Concluslons rnlating to qoinq concwn In audib'ng the flnanclal itat•ments. we have ctyKhJded that the INstees use of the golng con¢em basis of accounting in the preparatlon of the flnanclal slataments Is approprlata. Based on the work ¥￿ have perfonned, ￿ have rlot identified any material uncertaintles relating to events or condiliDns that, individually or collectivoly, rnay cast signfficant doubt on the tharity'$ abllty to conllnue as a going ¢oncem for a perfod of at least Iwelve months from when the orfginal financlal statem•nts were authori$ed for issue. Our responslbllltiès and the responsibilitses of the trustees respect to going concern are d&8cribed in the relevant sections of this reporL Other Inforniallon The trustees are responsible ft)r the other inf￿mation. The other infonnation comprlses the Inf0M￿tIOn included in th8 annual report. other than the financlal statements and our aurfitorfs report thereon. opinion on the financial statement5 does r￿t cover Ihe other inforniation and, except the extent otherwrse explicitly stated in our report. we do not express any form of assurance ndu$ion thereon. Page 11 The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: + We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through | discussion with the trustees and other management. We communicated identified laws and i regulations throughout our team, and remained alert to any indications of non-compliance | throughout the audit. | Page 12 | | ## 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 information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there 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 misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. - Matters on which we are required to report by exception In the tight of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report. We have nothing to 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 statements are not in agreement with the accounting records and returns; or » certain disclosures of trustees remuneration specified by law are not made; or » we have not received all the information and explanations we require for our audit. ## Responsibilities of trustees As explained more fully in the Statement of Trustees’ Responsibilities (set out on page 10), the trustees are responsible 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 statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor Responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error 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 statements. | } |i | i i ## The Society of Mary and Martha ## Independent Auditor's 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 certain aspects of charity legislation. - * Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. - As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain - professional scepticism throughout the audit. We also: » Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity's internal control. - - fvaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - - Conclude on the appropriateness of the trustees use of the going concem 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 charity's ability to continue as a going concern. If we 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, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events 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 disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ThisUse ofreport our reportis made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that 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. Page 13 ## | } } | The Soclety of Mary and Martha Independent Auditofs Report to the Members of The Society of Mary and Martha {contlnued) Westcott5 (SW) LLP, stattrtory Audltor 47 Boutport Street Bamstaple De¥ EX31 1SQ Page 14 ## The Society of Mary and Martha ## Statement of Financial Activities for the Year Ended 31 December 2024 **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds|2024|2023| |Note|£|£|£|£| |Income|and|Endowments from:| |Donations|and|legacies|2|136,188|180,331|316,519|245,849| |Charitable|activities|3|227,334|-|227|334|245,310| |Other trading|activities|4|28,741|-|28,741|36,257| |Investment income|5|34,673|-|34,673|20,215| |Other income|6|38,930|-|38,930|41,587| |Total|income|465,866|180,331|646,197|589,218| |Expenditure|on:| |Charitable|activities|7|(500,562)|(108,393)|(608,955)|(622,890)| |Total|expenditure|(500,562)|(108,393)|(608,955)|(622,890)| |Gains/losses|on|investment| |assets|9,15|15,665|-|15,665|43.215| |Net|(expenditure)/income|(19,031)|71,938|52,907|9,543| |Gross|transfers|between| |funds|47,359|(47,359)|-|-| |Net movement in funds|28,328|24,579|52,907|9,543| |Reconciliation|of funds| |Total funds brought forward|4,820,753|(3,029)|4,817,724|4,808,181| |Total funds carried forward|21|4,849,081|21,550|4,870,631|4,B17,724| **----- End of picture text -----**
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 21. The notes on pages 18 to 34 form an integral part of these financial statements. Page 15 | ; j ## The Society of Mary and Martha ## (Registration number: 327394) Balance Sheet as at 31 December 2024 **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |2024|2023| |Note|£|£| |Fixed|assets| |Tangible|assets|14|3,768,222|3,783,591| |Investments|15|455,572|439,907| |4,223,794|4,223,498| |Current|assets| |Stocks|16|5,000|5,476| |Debtors|17|31,182|44,778| |Cash|at bank and|in hand|18|684,567|630,670| |720,749|680,924| |Creditors:|Amounts falling due within one year|19|(68,912)|(71 698)| |Net current assets|651,837|609,226| |Total assets|less current liabilities|4,875,631|4,832,724| |Creditors: Amounts falling due after more than one year|20|(5,000)|(15,000)| |Net assets|4,870,631|4,817,724| |Funds|of the|charity:| |Restricted|income funds| |Restricted funds|21,550|(3,029)| |Unrestricted|income|funds| |General|unrestricted funds|4,522,647|4,503,038| |Unrestricted Endowment funds|326,434|317,715| |Total|unrestricted funds|4,849,081|4,820,753| |Total funds|21|4,870,631|4,817,724| **----- End of picture text -----**
The financi J titel on pages 15 to 34 were approved by the trustees, and authorised for issue on 1S ‘sf and signed on their behalf by: RevYa F / \ Wright dal...‘ Trustee ilMrs J HenrettyMenre.ly Trustee The notes on pages 18 to 34 form an integral part of these financial statements. Page 16 j ] i | ## The Society of Mary and Martha ## Cash Flow Statement for the Year Ended 31 December 2024 **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |2024|2023| |Note|£|£| |Cash|flows from|operating|activities| |Net cash income|52,907|9,543| |Adjustments|to cash flows from|non-cash items| |Depreciation|62,728|17,690| |Amoartisation|-|5,199| |Investment income|5|(34,673)|(20,215)| |Revaluation|of investments|(i 5,665)|(43,215)| |65,297|(30,998)| |Working|capital|adjustments| |Decrease/(increase)|in stocks|16|476|(677)| |Decrease/(increase)|in debtors|17|13,596|(386)| |Decrease|in creditors|19|(4,449)|(26,864)| |(Decrease)/increase|in deferred income|20|(8,337)|10,672| |Net cash flows from operating|activities|66,583|(48,153)| |Cash flows from|investing|activities| |Interest receivable and similar income|5|34,673|20,215| |Purchase of tangible fixed assets|14|(47,359)|-| |Net cash flows from|investing|activities|(12,686)|20,215| |Net increase/(decrease)|in cash and cash|equivalents|53,897|(27,938)| |Cash and cash equivalents|at|1|January|630,670|658,608| |Cash and cash equivalents|at 31|December|684,567|630,670| **----- End of picture text -----**
All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 18 to 34 form an integral part of these financial statements. Page 17 | i | i 1 | ; | ## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 ## 4 Accounting 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 201 1. Basis of preparation The Society of Mary and Martha meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements are prepared in sterling which is the functional currency of the charity. > GoingThe trusteesconcernconsider that there are no material uncertainties about the charity's ability to continue as a going concem. Exemption from preparing group accounts The charity is not required to prepare consolidated accounts in accordance with the Charities 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 funding or are ofa general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations 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 grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred 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 conditions which must be met before the charity has unconditional entitlement. ## Page 18 | | ' j ; j ## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) ## investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. > ExpenditureAll expenditure is recognised once there is a legal or constructive obligation to that expenditure, itis probable settlement 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 Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. > TaxationThe charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. > AmortisationAmortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows: Asset class Amortisation method and rate Hub 20% straight line TangibleIndividual fixedfixed assetsassets 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 write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Depreciation method and rate Fixtures and fittings 20% straight line Computers 33% straight line Tractors & vehicles 25% reducing balance Freehold land and buildings 1% straight line ## Page 19 ## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 ## (continued) ## Fixed asset investments Fixed asset investments, other than programme related investments, are included at market value at the balance 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 and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO) method. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant 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. Restricted 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 ## Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments 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 charity after deducting all of its liabilities. Page 20 **----- Start of picture text -----**
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| i { | j ## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) ## Recognition and measurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), 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 excluding transaction costs), unless 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 payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the 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 flows 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 charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. investments Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. ## 2 Income from donations and legacies ||Unrestricted
funds
£|Restricted
funds
£|Total
2024
£|Unrestricted
funds
£|Restricted
funds
£|Total
2023
£| |---|---|---|---|---|---|---| |Grants|-|170,000|170,000|-|85,000|85,000| |Donations
Legacies
Taxrefunds|108,043
1,000
22,233|9,214
-
1,117|117,257
1,000
23,350|115,804
3,500
22,820|7,304
-
891|123,108
3,500
23,711| |Donations||||||| |from Sheldon
Ltd|4,912|-|4,912|10,530|-|10,530| ||136,188
———|180,331
——|316,519
152,654
oOoS||93,195
SS|245,849
——<————————| Page 21 The Society ol Mary and Martha Notss to the Flnancial Statements for the Year Ended 31 December 2024 (continuod) 3 Incom• from charitsblo activitie• Total 2024 Total 2023 Contributlons from guests Programme Events Individual Retreats Catered Gmupg 104,603 107,354 15,377 227.334 129.346 109.744 6.220 245,310 All Inc(xme recèbved from charltable acOvlO8s kn 2024 •nd 2023 wa¥ unrutricted. 4 Inc(Mn• oth•r kndlng •cUvlllo• Tot•1 2024 Total 2023 Trading income FwNkaising e¥ert5 15.783 11958 28.741 17.413 18.844 36.257 AU Income rttelved from tradlng acllvlllos In 2024 and 2023 was unrestricled. S Inv••lmont Incom• Tolal 2023 2024 Intwest recelvable on bank deposlts Al Income re￿ived from Investment incorne h) 2024 ￿ 2023 was unrnstricted. 34.673 20.215 Page 22 The Soclety of Mary and Martha Notss to the Flnancial Statements for th8 Year Ended 31 December 2024 (continued) 6 Other Income Total 2024 Totsl 2023 Rental Income Slatutory grants Other Income 36,000 1,361 2,569 38,930 35.000 5,543 41,587 AH otheT incomo In 2024 and 2023 unrestricted. 7 Expondltur• on charitabl• a¢tlvltl•• UnrostrlGtsd R••trlGt•d fund• fund¥ Total Unrn•trlct•d R••trl¢t•d 2024 lund• fund• Totsl 2023 Charltable •cOvltles 500.562 108,393 608,955 524,319 98,571 622,890 Page 23 ||||Ow)
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>Om7iuAa|| ||||||| ||||||| ||||||| | i ## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) ## 8 Expenditure attributable to Restricted Funds The expenditure relating to the Community Fund is included within community wages. The costs attributable to the charity's work for Anglican Clergy are spread across the whole range of categories of expenditure incurred in fulfilling the Society's charitable purpose. The £60,000 (2023: £50,000) is therefore shown as an allocation from the total expenditure on charitable activities. The direct Sheldon Hub expenditure covers ongoing expenditure on the IT structure of the resource, the development of content, and publicity. **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Fundraising| |Voluntary|&|Premises|Charitable|Total| |Basis|of|income|Trading|Costs|Activities|2024| |Allocation|£|£|£|£|£| |Community|Fund|Direct|-|-|-|1,314|1,314| |Anglican|Clergy|Apportioned|-|-|.|60,000|60,000| |Sheldon|Hub|Direct|-|-|-|27,079|27,079| |Apportioned|:|-|-|20,000|20,000| |-|-|-|108,393|108,393| **----- End of picture text -----**
In addition to the restricted expenditure analysed above, the charity incurred restricted fixed asset additions of £47,359 in relation to the Solar Fund. **----- Start of picture text -----**
|||||| |---|---|---|---|---| |9|Net incoming/outgoing|resources| |Net incoming/(outgoing) resources for the year include:|2024|2023| |£|£| |AuditDepreciation fees|of fixed|assets|62,72812,406|22,88917,905| |Unrealised|gains/losses|on investment assets|(15,665)|(43,215)| **----- End of picture text -----**
10 Trustees remuneration and expenses One Trustee received remuneration as disclosed in note 23. Travel expenses of £217 were paid to one Trustee during the year (2023: £445 paid to 2 Trustee) Page 25 The Society of Mary and Martha Notes to the Financlal Ststements for the Year Ended 31 December 2024 (contlnued) 113taff costs The aggr8gat8 payroll costs were as fo#th￿. 2024 2023 Staff ￿$ts durln9 the y•ar **r•: Wages and 8alwie$ Soclal security Cogts Penslon costs Councll Tax for Cornmunty members 170,278 182 9,987 5,541 185.988 154,504 132 13,924 6,490 175.050 The monlhly average rwmber of persons (Including s￿10[ manwjement i leadernh￿ team) ￿ployed by the charity during the year was as folow5: 20 2023 No 25 No fAnployee rec8Ned emoluments of more than £60,000 dwlng thè year The total empbyee bonefits of Ihe key rnanagwnent personnel of the chaylty were £30.045 12023 . £28,244). 12 Auditorn. Yamunor•llon 2024 Audlt of the flnancial statements Other fws to audltors AJI other noTFaudit ser4lcas 12.406 14.633 3.272 Page 26 The Soclety ofmary and Martha Notes to the Financlal Statements for thé Year Ended 31 December 2024 (contlnuèd) 13 Intsfiglbl• Ilx•d assets Hub Total Cost At 1 January 2024 At 31 December 2024 201.957 201.957 201.957 201.957 Amortisallon At 1 Januory 2024 Al 31 DOC￿nber 2024 201,957 201.967 201,957 201.957 N•t IK￿k vmlu• At 31 December 2024 At 31 De¢￿kner 21J23 Thi8 a88et18 The Sheldon Hub" vthkh Irs an onllne mutual support rn￿rce for people In mlni$ty. provlded free of charge *ww.sheldonhub.org Page 27 The Society of Mary and Martha Notes to the Financial Ststem8nts for the Year Ended 31 December 2024 {contlnued) 14 Tanglble fix•d assets Land and buildlngs Ua¢hlnery & Equllmert Tr•ctrJrn & Vahlcl Cornput•rn Total At l January 2024 4,IJ08,786 55.677 47.359 130,339 7,456 4,2D2,258 47.359 At 31 December 2024 4.008.786 103.036 130,339 7,456 4.249,617 At 1 January 2024 Charyo for Iho 268,631 50.582 91,99B 7.456 418,667 40.088 1&054 62.728 At 31 December 2024 308.719 101.584 481.395 At 311)x￿ber 2024 3 700.067 39.400 28.755 3.768.22Z At 31 Decemt*r 3.740,155 5.095 38,341 3 783,591 C*pllal cOThmllffl￿ts for Ih• aCquknKk￿ of tsnglbl• •u•ts Contractual comrnitm￿ts forthe arquisition of I￿&￿ble assets *re as fDltyhB'. 2024 2023 Solar panels 12.425 PagE 28 The Society of Mary and Martha Notes to the Financial Statements for the Year Ended 31 December 2024 {contlnued) 15 Fixad assat Investrn•nt8 Inveslments Subsldlary undertaking5 Cost At 1 Janu•ry 2024 At 31 December 2024 100 100 Nat book v•lu• Al 31 December 2024 100 Al 31 Decembar 2023 100 Ll•t•d Co•t or Valu•tlon At 1 January 2024 Rovaluation 439,807 15.685 At 31 Dacember 2024 455.472 Not book val At 31 Decamber 2024 4SS,472 At 31 Decembor 2023 439.807 D•lall• of und•rt•klng• Detalls of the Inveslments In ￿lch the charfty holds 20% (Y more of Ihe nomlnal value of any elasg of Share capital are as follows: Subsldlary undgrtaking Country of in¢orporation Propor¥on of votlng rlghts and sharos hold 1024 2023 Prlnclpal aGlivity Holdi Sheldon Ltd England and Wales Ordlnary shares 100% 100% Property management The profft ft)r the financlal perfod of Sheldon Ltd was £27.444 {2023 - £15,442) and the aggregate amount of capital and reseNes at the end of th8 period Yr4s £31.091 (2023 - £8.559). Page 29 The Soclety of Mary and Martha Notes to the Financlal Statements for the Year Ended 31 December 2024 (contlnued) 16 Stock 2024 2023 Stocks of goods for resale 5,000 5,476 17 Debto 2024 2023 Trade debtors Prepayments Oiher debtors 14,336 16,098 750 18,000 21,778 5.000 18 Cash and cuh •qulvalants 2024 2023 CaBh at bank Short4emi deposlts 147.250 537.317 134,048 49S,622 684,567 630,670 19 Credltord: •fflounts falllng du• wlthln on• year 2024 2023 Trade cr8dit¢XS Other loans Other taxatlon and 8oci81 securlty Postyoned booklng credM8 Penslon g¢heme credltor Accruals Deferred income 31.266 10.000 1,539 5.000 1,196 13,835 6,076 37,814 871 5,000 1,081 12.519 14.413 68,912 71.698 2024 2023 Deferred Inc￿78 at 1 January 2024 Resources deferred in the perfod Arnounls released frnm pravious periods Dalmd income at year end 14.413 6.076 3,741 14.413 3.741 Page 30 Tho Soclety of Mary and Martha Not88 to tha Financial Ststemonts for thé Year Ended 31 December 2024 (continued) 20 Crodltorn: afflounts falllng du• aftor on• year 2024 2023 Other loan8 5.000 15.000 Page 31 **----- Start of picture text -----**
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## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) The Sheldon Hub is an online mutual support resource for people 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 Anglican Clergy Fund relates to the general work of the Society to support clergy in the Church of England and their families who are experiencing mental and/or 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 this area is supported by the very generous grant of £60,000 by the Clergy Support Trust. The Community Fund represents donations made specifically for the Community and they are distributed through the payroll into the Community's communal account The Solar Fund represents donations made specifically towards the purchase of solar panels. The restrictions on the funds have been released by the purchase of the panels and these fund have been transferred to unrestricted funds. ## 22 Analysis of net assets between funds ||||Total funds| |---|---|---|---| ||Unrestricted
funds
General
£|Restricted
funds
£|at31
December
2024
£| |Tangible fixed assets|3,768,222|-|3,768,222| |Fixed asset investments|455,572|-|455,572| |Current assets|699,199|21,550|720,749| |Current liabilities|(68,912)|-|(68,912)| |Creditors over 1 year|(5,000)|-|(5,000)| |Total netassets|4,849,081|21,550|4,870,631| ||||Total funds| ||Unrestricted
funds
General
£|Restricted
funds
£|at 31
December
2023
£| |Tangible fixed assets|3,783,591|-|3,783,591| |Fixed asset investments|439,907|-|439,907| |Current assets|680,924|-|680,924| |Current liabilities|(68,669)|(3,029)|(71,698)| |Creditors over 1 year|(15,000)|-|(15,000)| |Totalnetassets|4,820,753|(3,029)|4,817,724| Page 33 ; ## The Society of Mary and Martha ## Notes to the Financial Statements for the Year Ended 31 December 2024 (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. Neither the Warden, nor any Trustee, received any income from that company. The company used some of the Society's facilities on its site at Sheldon and paid for such use. The total paid in 2024 was £35,000 (2023:£35,000). The company gifted £4,912 (2023: £10,530) to the Society during 2024. At 31 December 2024 the Society was owed E£Nil (2023: Enil)} by Sheldon Ltd. Mr Cari Lee lived on site as part of the community as a self-supporting member. He received no salary but living quarters and food were provided. His wife Mrs Susan Lee lives in residential care the charity contributes towards the costs Miss Hillary Hanson, lived on site as part of the community, receiving living quarters and food as other members 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 £13,639 including pension contributions (2023: £13,290). During the year £9,561 (2023: £6,485) was paid to the son of Mr Carl Lee and £3,184 (2023: £2,408) was paid to the daughter of Mr Carl Lee for work at Sheldon. The contracts of employment are the same as any other employees of the charity. During the year, £2,135 (2023: £504) was paid to the son of Mr Carl Lee for the rental of various equipment for use at the Sheldon site. Page 34 |