Charity registration number: 327394 ## The Society of Mary and Martha Annual Report and Financial Statements for the Year Ended 31 December 2025 ## **The Society of Mary and Martha** ## **Contents (continued)** |Reference and Administrative Details|1| |---|---| |Trustees' Report|2 to 10| |Independent Auditors' Report|11 to 14| |Statement of Financial Activities|15| |Balance Sheet|16| |Cash Flow Statement|17| |Notes to the Financial Statements|18 to 34| ## **The Society of Mary and Martha** ## **Reference and Administrative Details** **Charity Registration Number** 327394 **Trustees:** Rev Canon Dr L Barley Mrs I Garty, (retired 31 December 2025) Miss H Hanson Mrs J Henretty, (Vice Chair) Rev A Lane Mr C Lee Mr I Powell Rev N Summerfield Rev F Wright, (Chair) **Warden** Dr S Horsman **Principal Office** Sheldon Sheldon Lane Doddiscombsleigh Exeter EX6 7YT **Auditor** Westcotts (SW) LLP 47 Boutport Street Barnstaple Devon EX31 1SQ Page 1 ## **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 2025. ## **Sheldon - heart and soul for ministry** ## **Objectives and activities for public benefit** We created Sheldon because Christian ministry is a profoundly complex and challenging vocation – often rewarding, but carrying significant risks to physical, mental, and spiritual health. People wounded or broken by ministry need a reliable and trustworthy resource independent of the structures within which they live and work. This work has been grown and sustained for forty years. Sheldon is the home of the 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 week at a time. Sheldon has ten self-contained quarters for private retreatants, plus fifteen en-suite bedrooms in the Long Barn and Pound House. Communal facilities include meeting and dining rooms, chapels, a library, the Art Shed, a Chartres-style labyrinth and forty-five acres of gardens and grounds. 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. All the ingredients of Sheldon are designed to support guests in the healing and 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 who 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 the core beneficiaries. Accommodation is available for clergy, church, wellbeing, educational and extended family groups to run their own programmes, providing valuable resources to these groups and sharing some of the overhead of running the premises. 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 extremely sensitive subjects. Members collaborate to build a readily searchable bank of practical resources to facilitate doing healthy ministry together. Much of our day-to-day work 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. 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. Page 2 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** ## **Overview of 2025** Sheldon’s Night Prayer asks that “we may honour God’s name with lives of costly, giving love”. This is what the Community reflects in its consistency and faithfulness serving guests day in day out. 2025 was not a year of glamorous new projects to report – it was a year of stability and digging deeper. People in ministry share the societal strains of rapid change, financial stress, the burdens of sickness and caring responsibilities and other losses. The Sheldon Community is not immune either. In turbulent times there is an even greater need for the stability of places of safe refuge and healing, and the Community continues showing up with heart and soul. 2025 has also been a year of preparing foundations with particular focus on the infrastructure needed to sustain the next decade of ministry at Sheldon. ## **2025 finances** This section offers commentary on the accounts paying particular attention to items where there is a meaningful change on the previous year, and/or where it is a helpful prompt to describe our activities during the year. Numbers in square brackets refer to the formal notes to the accounts on pages 18 - 34. ## The Statement of Financial Activities (SOFA) The SOFA (page 15) shows 2025 to have been consistent with 2024. 1. **Categories of income.** - a. **Donations, grants and legacies [2].** Friends continue to be the mainstay of voluntary support with 650 people contributing over £80,000 in regular standing orders, up 4%. Other donations came from individuals, churches, and other communities. The modest headline reduction of 3.6% in total donations and legacies arises in the context of exceptional giving in 2024 to fund the 30kW solar panel installation. The continued gift aid effort generated £24,420 in reclaimed tax. £60,000 was received again from the Clergy Support Trust in 2025, continuing its vital role in enabling Sheldon to support Anglican clergy and their families. The Henry Smith Trust donated £50,000 to the Sheldon Hub. Smaller amounts were donated by individuals for both the Sheldon Hub and the resident Sheldon Community. The charity has two wholly owned subsidiary companies. £27,444 was donated by Sheldon Ltd from surplus generated in 2024. - b. **Contributions from guests [3].** Income from led retreats and R5 weeks grew by 13% and from individual retreat income also rose by 7%. All group bookings are now handled by our trading subsidiaries reflected in the rise in ‘Other income’. Income from bookings rose faster than the modest 2025 tariff rise, but all rates will be held for 2026 as economic pressures on households persist. For people who need core ministry resources there is always flexibility to ensure finance is not a bar to access. - c. **Other trading activities [4].** The shop and bar facilities 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 is managing all trading from now on. Three fundraising concerts in the open-air theatre went ahead with glorious weather and much enjoyment which raised Sheldon’s profile in positive ways in the local area. The overall amount raised for charity funds ended up a bit lower than in 2024 so pricing structure and promotions are being reviewed for 2026. Page 3 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** - d. **Investment income and other income [5,6].** Continued high bank interest rates brought good returns on investments at £33,311 which is similar to 2024. This reflects our disciplined approach to placing our cash reserves in fixed-term and notice-period deposits across several ethical and community banks. Wholly owned subsidiary companies, Sheldon Ltd and Sheldon Lane Ltd, both paid rent/recharge to the charity (see above). ## 2. **Overview of expenditure** During 2025 Sheldon continued to actively invest in its people, its buildings and the technical infrastructure needed to run the whole operation efficiently. Total expenditure was £618,593 (2024: £608,955), an increase of 1.6%. This represents careful stewardship: costs grew more slowly than income, and the key increases represent purposeful investment rather than cost pressure. ## **Investing in people.** The life of the resident **community** is at the heart of Sheldon with its commitment to stability, stewardship, and servanthood. Community members receive a modest financial allowance and pension contributions while their accommodation and food is accounted for within the total costs of running the site. Trustees previously made financial provision for retirement and support in older age in the Community Later Years Reserve. This year we spent money on third-party top-up for residential care needs for a member who is no longer able to live at Sheldon. **Staff** members assist the community with all aspects of Sheldon’s work, including administration, catering, housekeeping, cleaning, and estate work. The Technical Administrator retired in April, creating an opportunity to re-organise the staffing of reception, organisational administration, and IT needs. The specialist skills of new and long-serving staff members have been deployed on Progeny and Hub 2.0 (described below) as well as the day-to-day operational needs. **Guest leaders** are the people who we invite to lead retreats on our programme and there is also a regular visiting masseur. Volunteers always have the option to claim travel expenses although most choose not to. **Other costs** for personnel include support, training, and recruitment expenses. ## **Investing in buildings and grounds.** The most significant expenditure movement was a near-doubling of building and grounds maintenance costs to £83,611 (2024: £36,164). This reflects two substantial projects conducted in 2025. The **re-thatching** of the Farmhouse and other roofing repairs comprised essential maintenance on an historic rural property at a cost of £20,894. Repairs were made to the private **access lane** costing £4,903. Soil heaps were re-purposed to create an attractive amenity platform to enjoy the Sheldon woodlands, and a platform for a **polytunnel** to augment the kitchen garden. Winter storm damage to the theatre access track was repaired, in part using trunks of trees that had been felled in line with the tree care and safety policy. The remaining increase represents additional maintenance across plumbing and electrical systems including replacement of the **hot water system** in the Hen Runs accommodation block. Caring for Sheldon's distinctive rural estate is an ongoing responsibility and the trustees are agreed that preventive maintenance is both financially prudent and consistent with our stewardship values. It had been hoped to demonstrate savings on **electricity costs** during 2025 thanks to the new **solar panels** , but there were delays in connecting the correct meter resulting in a dispute about over-billing which is not yet resolved. Careful energy stewardship continues to be important as part of Sheldon’s environmental responsibilities. Page 4 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** Sheldon’s grade two listed status is both its charm and its challenge. We have made two attempts to redevelop the Animal Barn complex to meet the developing needs of the site, but planning consent was refused for the application submitted in 2025, and the 2022 consent has now lapsed. Sheldon still needs a more spacious indoor room to serve the entire site. This will cater to a variety of guest meeting, activity, and dining needs. Plans have now been drawn up for an extension to the Pound House Dining Room. Initial pre-application advice from the local authority raised a variety of concerns with the concept. The charity is now seeking expert advice on how to adapt the scheme and its presentation before progressing. ## **Investing in technology.** Sheldon’s technology systems carry the information flows that enable us to serve guests at Sheldon retreat and within the online community of the Sheldon Hub. Each of the 7,255 meals served needed to have the correct dietary needs assigned to ensure guests were safely fed. Each time one of the members of the 6-strong housekeeping team prepared one of the 1,000+ room changeovers they needed the correct details for setting up the room. Each time a guest walked into reception the person on duty needed to know their name, where they were staying, and be well-resourced to answer any questions about their retreat. Every financial transaction had to be tracked against bookings, donations, gift aid, and bank reconciliation. Every promotional email needed to be sent out against a GDPR-compliant mailing list with links back to a well-maintained website. The curation of an environment that guests experience as safe, calm and healing space requires constant attention to detail and much of that detail is held in Sheldon’s core database. The bespoke “Legend” application has been the programme linking the database to real world workflows day by day for the last 13 years. 13 years is ageing in IT terms and the company that supported the application for the past 8 years gave notice in 2025. It has therefore been necessary to begin a staged project of replacing the existing workflows with an integrated set of replacement applications under the “Progeny” umbrella. This has provided opportunities to examine existing workflows with the aim of supporting efficiency improvements for core workflows and faster training for new team members. Progeny is investing in day-to-day work for the next decade or more. The team did a great deal of foundation work in 2025 with the first applications coming on stream in 2026. We expect it to take up to 3 years to be fully operational with all aspects of Legend fully redundant. A new category of “Tech redevelopment” has been created and £36,090 allocated under this heading. Alongside the future investment there are significant efforts under way to drive down establishment Technical Infrastructure costs which are already beginning to bear fruit. The evolution of the Sheldon Hub sits alongside the Progeny development. The Hub is a confidential online mutual support community of practice. We created the Hub ten years ago in recognition of capacity and desire for people in ministry to support one another in an environment where confidence and confidentiality are paramount. The Hub has 2,500 members of whom half are regular visitors and contributors. There are forums to chat and consult about any aspect of ministry or related interest. The most important forum is The Surgery where members may post sensitive or painful issues and can expect wise, compassionate, and constructive responses. The Hub is beautifully built, but the site has proved expensive to maintain. The project has been supported with generous grants through its experimental years of development, but the time has come to focus on long term financial sustainability. The Henry Smith Foundation made a grant of £50,000 in 2025 and this is being invested in completely rebuilding the Hub’s platform. It is a significant undertaking and work on “Hub 2.0” has been underway throughout the year. Some of the restricted funds have been carried forward to 2026 It is expected that the transition process will be completed by the end of 2026. Page 5 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** ## **Costs of delivery.** Providing tasty, safe, and healthy food is always a major item in the budget, along with everything the housekeeping team need to provide clean and well-kept rooms. Housekeeping costs are lower in 2025 by comparison with substantial investment in bedroom furniture in 2024. Energy costs shown are unreliable for 2025 due to ongoing complications with metering, billing, and contracts after upgrading to a 3-phase supply and adding 30kW of solar generation early in 2025. We expect to resolve these during 2026. Establishment costs which are difficult to control include insurance and audit as these relate to compliance requirements. The audit is disproportionately onerous simply due to the property value being above the threshold, and the thatched buildings make up a high proportion of insurance costs. Licenses include PRS, PPL, TV, premises license, and non-domestic rates. Guest facilities include supplies for masseurs, the Art Shed, Library, and chapels. Although the emergency phase of the Covid pandemic is over, we continue to feel its impact on the health of both guests and staff. We therefore provide robust protections against the spread of all airborne infections and offer free vaccination to team members. Page 6 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** ## The Balance Sheet **Reserves.** The charity’s Reserves policy was adopted in 1998 and last updated in 2025. We hold both restricted and unrestricted reserves. We aim to maintain free reserves of **£1,104,867** to ensure continuity for beneficiaries, capable of covering the following needs. There are restricted funds of **£13,684** bringing the free reserves to **£1,147,879** . Reserves held are therefore **£43,012** more than the needs detailed above. Page 7 ## **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 Trustees elect the Chair. 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 voting. 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. 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 was added on the same basis. ## **Risk Assessments** We have identified the risks to which we are exposed and have established systems to mitigate those risks. We affirm our 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_ - we 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. We appointed Lynda Barley as Lead Trustee for Safeguarding - _Confidentiality and Whistleblowing_ policies are also in place. - _GDPR, Cybersecurity and AI_ - the Trustees take the protection of personal data seriously and take professional advice to ensure that both technical and human safeguards are maintained. Page 8 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** ## **Plans for 2026** - The first of the **Progeny** applications will start to be integrated into day-to-day workflows as we continue to improve our attention to detail caring for guests and reduce administrative burdens on community and staff members. - The **Sheldon Hub** will complete its migration to a more financially sustainable platform. This process includes both the technical work and the engagement with the Hub community through the transition and deciding on priorities for the next phase of the Hub’s life. - Creative work will be carried out on both designs and workflows to ensure that online, email, video and printed **publicity** serve to enable all the people who need Sheldon’s resources to find them more easily. - Continuing to steward Sheldon's financial reserves to support the long-term **development of services** to support people in ministry and to **maintain the Sheldon premises.** - The very specialist skillsets and lifestyle of the Community and Sheldon’s rural location present ongoing challenges to **recruitment** . There are always openings for volunteers. The ability to host guests always depends on adequate core staffing for housekeeping and cooking. We hope to welcome at least one new member to test their vocation to life and work as a member of the resident Community. - Work will continue finding the best route to securing planning consent for the **Pound House Dining Room extension** . Funds are being set aside to ensure that the project can progress quickly once this is achieved. Day by day, week by week throughout the year Sheldon’s Community, staff and volunteers will continue to hold good space for our guests. None of this would be possible without the generous support of Friends, trusts and other donors who sustain this ministry through financial giving, prayer, practical support, and encouragement. Thank you from us all. ## **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 concern basis unless it is inappropriate to presume that the charity will continue in business. Page 9 ## **The Society of Mary and Martha** ## **Trustees' Report (continued)** 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 safeguarding 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 30 April 2026 and signed on its behalf by: **----- Start of picture text -----**
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......................................... ......................................... Mrs J Henretty Rev F Wright Trustee Trustee Page 10 ## **The Society of Mary and Martha** ## **Independent Auditor's 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 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 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 Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, 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 International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded 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 ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Page 11 ## **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 light 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 returns 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 9 and 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 internal 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 concern, disclosing, as applicable, matters related to going concern and using the going concern 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. 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 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)** - 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. - Evaluate 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 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 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 auditor’s 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. Page 13 ## **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 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. ...................................... Westcotts (SW) LLP, Statutory Auditor 47 Boutport Street Barnstaple Devon EX31 1SQ 15/05/2026 Date:............................. Page 14 ## **The Society of Mary and Martha** ## **Statement of Financial Activities for the Year Ended 31 December 2025** |**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Other income
6
Total income
**Expenditure on:**
Charitable activities
7
Total expenditure
Gains/losses on investment
assets
9, 15
Net (expenditure)/income
Gross transfers between
funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
21|**Unrestricted**
**funds**
**£**
179,259
233,452
18,347
33,311
58,862
523,231
(507,394)
(507,394)
(19,508)
(3,671)
22,482
18,811
4,849,081
4,867,892|**Restricted**
**funds**
**£**
125,815
-
-
-
-
125,815
(111,199)
(111,199)
-
14,616
(22,482)
(7,866)
21,550
13,684|**Total**
**2025**
**£**
305,074
233,452
18,347
33,311
58,862
649,046
(618,593)
(618,593)
(19,508)
10,945
-
10,945
4,870,631
4,881,576|**Total**
**2024**
**£**
316,519
227,334
28,741
34,673
38,930| |---|---|---|---|---| |||||646,197| |||||(608,955)| |||||(608,955)
15,665| |||||52,907
-| |||||52,907
4,817,724| |||||4,870,631| All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 21. The notes on pages 18 to 34 form an integral part of these financial statements. Page 15 ## **The Society of Mary and Martha** ## **(Registration number: 327394) Balance Sheet as at 31 December 2025** |**Note**
**Fixed assets**
Tangible assets
14
Investments
15
**Current assets**
Stocks
16
Debtors
17
Cash at bank and in hand
18
**Creditors: Amounts falling due within one year**
19
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
20
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
General unrestricted funds
Unrestricted Endowment funds
Total unrestricted funds
**Total funds**
21|**2025**
**£**
3,720,013
436,074
4,156,087
-
26,176
756,343
782,519
(52,030)
730,489
4,886,576
(5,000)
4,881,576
13,684
4,558,157
309,735
4,867,892
4,881,576|**2024**
**£**
3,768,222
455,572| |---|---|---| |||4,223,794| |||5,000
31,182
684,567| |||720,749
(68,912)| |||651,837| |||4,875,631
(5,000)| |||4,870,631| |||21,550
4,522,647
326,434| |||4,849,081| |||4,870,631| The financial statements on pages 15 to 34 were approved by the trustees, and authorised for issue on 30 April 2026 and signed on their behalf by: **----- Start of picture text -----**
.........................................
**----- End of picture text -----**
......................................... Mrs J Henretty Trustee **----- Start of picture text -----**
.........................................
**----- End of picture text -----**
......................................... Rev F Wright Trustee The notes on pages 18 to 34 form an integral part of these financial statements. Page 16 ## **The Society of Mary and Martha** ## **Cash Flow Statement for the Year Ended 31 December 2025** |**Note**
**Cash flows from operating activities**
Net cash income
**Adjustments to cash flows from non-cash items**
Depreciation
Investment income
5
Revaluation of investments
**Working capital adjustments**
Decrease in stocks
16
Decrease in debtors
17
Decrease in creditors
19
Increase/(decrease) in deferred income
20
Net cash flows from operating activities
**Cash flows from investing activities**
Interest receivable and similar income
5
Purchase of tangible fixed assets
14
Acquisition of investments in subsidiary undertakings
15
Net cash flows from investing activities
**Cash flows from financing activities**
Repayment of loans and borrowings
19
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December|**2025**
**£**
10,945
60,774
(33,311)
19,508
57,916
5,000
5,006
(7,164)
282
61,040
33,311
(12,565)
(10)
20,736
(10,000)
71,776
684,567
756,343|**2024**
**£**
52,907
62,728
(34,673)
(15,665)| |---|---|---| |||65,297
476
13,596
(4,449)
(8,337)| |||66,583| |||34,673
(47,359)
-| |||(12,686)
-| |||53,897
630,670| |||684,567| 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 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025** ## **1 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 2011. ## **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. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **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 of a 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 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## _**Investment income**_ Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is 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. ## **Taxation** The 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. ## **Amortisation** Amortisation 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 ## **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 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 2025 (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 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (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**
**£**
Grants
-
Donations
126,513
Legacies
1,000
Tax refunds
24,302
Donations
from Sheldon
Ltd
27,444
179,259|**Restricted**
**funds**
**£**
110,000
15,697
-
118
-
125,815|**Total**
**2025**
**£**
110,000
142,210
1,000
24,420
27,444
305,074|**Unrestricted Restricted**
**funds**
**£**
**funds**
**£**
-
170,000
108,043
9,214
1,000
-
22,233
1,117
4,912
-
136,188
180,331|**Total**
**2024**
**£**
170,000
117,257
1,000
23,350
4,912| |---|---|---|---|---| |||||316,519| Page 21 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **3 Income from charitable activities** |**3**
**Income from charitable activities**||| |---|---|---| |Contributions from guests
Programme Events
Individual Retreats
Catered Groups|**Total**
**2025**
**£**
118,103
115,349
-
233,452|**Total**
**2024**
**£**
104,603
107,354
15,377| |||227,334| All income received from charitable activities in 2025 and 2024 was unrestricted. ## **4 Income from other trading activities** |**4**
**Income from other trading activities**||| |---|---|---| |Trading income
Fundraising events|**Total**
**2025**
**£**
5,000
13,347
18,347|**Total**
**2024**
**£**
15,783
12,958| |||28,741| All income received from trading activities in 2025 and 2024 was unrestricted. ## **5 Investment income** |Interest receivable on bank deposits|**Total**
**2025**
**£**
33,311|**Total**
**2024**
**£**
34,673| |---|---|---| All income received from investment income in 2025 and 2024 was unrestricted. Page 22 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **6 Other income** |**6**
**Other income**||| |---|---|---| |Rental and recharge income
Statutory grants
Other income|**Total**
**2025**
**£**
55,000
653
3,209
58,862|**Total**
**2024**
**£**
35,000
1,361
2,569| |||38,930| All other income in 2025 and 2024 was unrestricted. ## **7 Expenditure on charitable activities** ||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**| |---|---|---|---|---|---|---| ||**funds**|**funds**|**2025**|**funds**|**funds**|**2024**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Charitable||||||| |activities|507,394|111,199|618,593|500,562|108,393|608,955| Page 23 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** |**Charitable activities**
**Basis of**
**allocation**
Staff cost
Time
Community allowance, pensions, council tax & care
Time
Guest Leaders and other personnel costs
Direct
Food and catering supplies
Usage
Housekeeping
Usage
Building and grounds, maintenance and repairs
Usage
Energy and water
Usage
Sheldon Hub direct IT and wage costs
Direct
Technical Infrastructure
Usage
Tech Redevelopment
Direct
Office costs, printing and advertising
Usage
Insurance
Usage
Audit, accountancy and bookkeeping
Usage
Architects, professional & legal fees
Usage
Vehicle maintenance, fuel and travel
Usage
Goods for resale (shop and bar)
Direct
Bank charges
Direct
Licenses and other guest facility costs
Direct
Fundraising events
Direct
Depreciation
Usage/Direct|**Voluntary**
**income**
**£**
10,685
8,322
-
1,728
483
4,181
2,191
-
1,182
-
310
1,296
960
453
374
-
-
-
-
3,039
35,204|**Fundraising**
**& Trading**
**£**
2,137
1,667
-
691
193
1,672
876
-
473
-
124
518
384
181
149
-
-
-
9,951
1,215
20,231|**Premises**
**costs**
**£**
5,343
4,162
-
5,183
1,450
12,542
6,573
-
3,546
-
930
3,888
2,879
1,360
1,121
-
-
-
-
9,116
58,093|**Charitable**
**activities**
**£**
88,689
69,077
17,005
26,954
7,541
65,216
34,178
30,596
18,440
36,090
4,838
20,219
14,973
7,074
5,828
-
2,352
8,591
-
47,404
505,065|**Total 2025**
**£**
**Total 2024**
**£**
106,854
102,236
83,228
109,244
17,005
12,702
34,556
31,845
9,667
25,002
83,611
36,164
43,818
40,625
30,596
27,079
23,641
41,998
36,090
-
6,202
6,240
25,921
31,230
19,196
21,974
9,068
29,332
7,472
9,774
-
5,703
2,352
2,433
8,591
4,783
9,951
7,866
60,774
62,728
618,593
608,958| |---|---|---|---|---|---| Page 24 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (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 (2024: £60,000) 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. |**Basis of**
**Allocation**
Community Fund
Direct
Anglican Clergy
Apportioned
Sheldon Hub
Direct
Apportioned|**Voluntary**
**income**
**£**
**Fundraising**
**&**
**Trading**
**£**
-
-
-
-
-
-
-
-
-
-|**Premises**
**Costs**
**£**
-
-
-
-
-|**Charitable**
**Activities**
**£**
1,813
60,000
27,866
21,520
111,199|**Total**
**2025**
**£**
1,813
60,000
27,866
21,520| |---|---|---|---|---| |||||111,199| In addition to the restricted expenditure analysed above, the charity incurred restricted fixed asset additions of £12,562 in relation to the Solar Fund and on completion of the solar project the remaining £9,917 was released to unrestricted funds to cover the unrestricted costs of the project in line with the funding agreement ## **9 Net incoming/outgoing resources** Net incoming resources for the year include: |Audit fees
Depreciation of fixed assets
Unrealised gains/losses on investment assets|**2025**
**£**
15,740
60,774
19,508|**2024**
**£**
12,406
62,728
(15,665)| |---|---|---| ## **10 Trustees remuneration and expenses** One Trustee received remuneration as disclosed in note 23. Travel expenses of £135 were paid to one Trustee during the year (2024: £217 paid to one Trustee) Page 25 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **11 Staff costs** The aggregate payroll costs were as follows: |**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
Council Tax for Community members|**2025**
**£**
180,966
879
9,810
4,545
196,200|**2024**
**£**
170,278
182
9,987
5,541| |---|---|---| |||185,988| The monthly average number of persons (including senior management / leadership team) employed by the charity during the year was as follows: Staff |**2025**|**2024**| |---|---| |**No**|**No**| |24|25| 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 £30,791 (2024 - £30,045). ## **12 Auditors' remuneration** |**12 Auditors' remuneration**||| |---|---|---| |Audit of the financial statements
**Other fees to auditors**
All other non-audit services|**2025**
**£**
13,940
1,800|**2024**
**£**
12,406| |||-| Page 26 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **13 Intangible fixed assets** |**13 Intangible fixed assets**||| |---|---|---| |**Cost**
At 1 January 2025
At 31 December 2025
**Amortisation**
At 1 January 2025
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Hub**
**£**
201,957
201,957
201,957
201,957
-
-|**Total**
**£**
201,957| |||201,957| |||201,957| |||201,957| |||-| |||-| This asset is "The Sheldon Hub" which is an online mutual support resource for people in ministry, provided free of charge www.sheldonhub.org Page 27 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **14 Tangible fixed assets** |**Cost**
At 1 January
2025
Additions
At 31 December
2025
**Depreciation**
At 1 January
2025
Charge for the
year
At 31 December
2025
**Net book value**
At 31 December
2025
At 31 December
2024|**Land and**
**buildings**
**£**
4,008,786
-
4,008,786
308,719
40,088
348,807
3,659,979
3,700,067|**Machinery &**
**Equipment**
**£**
103,036
12,565
115,601
63,636
13,497
77,133
38,468
39,400|**Tractors &**
**Vehicles**
**£**
130,339
-
130,339
101,584
7,189
108,773
21,566
28,755|**Computers**
**£**
7,456
-|**Total**
**£**
4,249,617
12,565
4,262,182
481,395
60,774
542,169
3,720,013
3,768,222| |---|---|---|---|---|---| |||||7,456|| |||||7,456
-|| |||||7,456|| |||||-|| |||||-|| The land and buildings of the charity are held by the Official Custodian for Charities due to the charity's unincorporated status. ## **Capital commitments for the acquisition of tangible assets** Contractual commitments for the acquisition of tangible assets were as follows: |Solar panels|**2025**
**£**
-|**2024**
**£**
12,425| |---|---|---| Page 28 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **15 Fixed asset investments** ## **Investments** |**Cost**
At 1 January 2025
Additions
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024
**Other investments**
**Cost or Valuation**
At 1 January 2025
Revaluation
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Subsidiary**
**undertakings**
**£**
100
10| |---|---| ||110| ||110| ||100| ||**Listed**
**investments**
**£**
416,456
19,508| ||435,964| ||435,964| ||416,456| ## **Details of undertakings** Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows: |**Subsidiary**|**Country of**||**Proportion of voting**|**Principal**| |---|---|---|---|---| |**undertaking**|**incorporation**|**Holding**|**rights and shares held**|**activity**| ||||**2025**
**2024**|| Page 29 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** |Sheldon|Ltd||England
Wales|and|Ordinary
shares|100%|100%|Property
management| |---|---|---|---|---|---|---|---|---| |Sheldon|Lane|Ltd|England
Wales|and|Ordinary
shares|100%|0%|Property
management
and trading| The profit for the financial period of Sheldon Ltd was £40,374 (2024 - £27,444) and the aggregate amount of capital and reserves at the end of the period was £44,021 (2024 - £31,091). The profit for the financial period of Sheldon Lane Ltd was £25,144 (2024 - £Nil) and the aggregate amount of capital and reserves at the end of the period was £25,154 (2024 - £Nil). ## **16 Stock** |**16 Stock**||| |---|---|---| |Stocks of goods for resale
**17 Debtors**
Trade debtors
Prepayments
Other debtors
**18 Cash and cash equivalents**
Cash at bank
Short-term deposits|**2025**
**£**
-
**2025**
**£**
8,836
15,834
1,506
26,176
**2025**
**£**
169,489
586,854
756,343|**2024**
**£**
5,000| |||**2024**
**£**
14,336
16,096
750| |||31,182| |||**2024**
**£**
125,700
558,867| |||684,567| Page 30 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **19 Creditors: amounts falling due within one year** |Trade creditors
Other loans
Due to group undertakings
Other taxation and social security
Postponed booking credits
Pension scheme creditor
Accruals
Deferred income
Deferred income at 1 January 2025
Amounts released from previous periods
Resources deferred in the period
Deferred income at year end
**20 Creditors: amounts falling due after one year**
Other loans|**2025**
**£**
8,825
-
4,148
1,150
5,000
1,052
25,497
6,358
52,030
**2025**
**£**
6,076
(6,076)
6,358
6,358
**2025**
**£**
5,000|**2024**
**£**
31,266
10,000
-
1,539
5,000
1,196
13,835
6,076| |---|---|---| |||68,912| |||**2024**
**£**
14,413
(14,413)
6,076| |||6,076| |||**2024**
**£**
5,000| Page 31 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **21 Funds** |**Balance**
**at 1**
**January**
**2024**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Transfers**
**£**
**Other**
**recognised**
**gains/**
**(losses)**
**£**
**Balance**
**at 1**
**January**
**2025**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Transfers**
**£**
**Other**
**recognised**
**gains/**
**(losses)**
**£**
**Unrestricted funds**
**_General_**
General Funds
4,503,038
465,866
(500,562)
47,359
6,946 4,522,647
523,231
(507,394)
22,482
(2,809)
Unrestricted endowment
fund
317,715
-
-
-
8,719
326,434
-
-
-
(16,699)
4,820,753
465,866
(500,562)
47,359
15,665
4,849,081
523,231
(507,394)
22,482
(19,508)
**Restricted funds**
Anglican Clergy
-
60,000
(60,000)
-
-
-
60,000
(60,000)
-
-
Sheldon Hub
(4,820)
54,039
(47,079)
-
-
2,140
57,619
(49,386)
-
-
Community Fund
1,791
1,961
(1,314)
-
-
2,438
2,686
(1,813)
-
-
Solar Fund
-
64,331
-
(47,359)
-
16,972
5,510
-
(22,482)
-
(3,029)
180,331
(108,393)
(47,359)
-
21,550
125,815
(111,199)
(22,482)
-
**Total funds**
4,817,724
646,197
(608,955)
-
15,665
4,870,631
649,046
(618,593)
-
(19,508)|**Balance at**
**31**
**December**
**2025**
**£**
4,558,157
309,735| |---|---| ||4,867,892| ||-
10,373
3,311
-| ||13,684| ||4,881,576| Page 32 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (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. In 2025 the work of the Society in this area is supported by the very generous grant of £50,000 from the Henry Smith Foundation. 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, installation and connection 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** |Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
3,720,013
436,074
768,835
(52,030)
(5,000)
4,867,892
**Unrestricted**
**funds**
**General**
**£**
3,768,222
455,572
699,199
(68,912)
(5,000)
4,849,081|**Restricted**
**funds**
**£**
-
-
13,684
-
-
13,684
**Restricted**
**funds**
**£**
-
-
21,550
-
-
21,550|**Total funds**
**at 31**
**December**
**2025**
**£**
3,720,013
436,074
782,519
(52,030)
(5,000)| |---|---|---|---| ||||4,881,576| ||||**Total funds**
**at 31**
**December**
**2024**
**£**
3,768,222
455,572
720,749
(68,912)
(5,000)| ||||4,870,631| Page 33 ## **The Society of Mary and Martha** ## **Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)** ## **23 Related party transactions** The Warden of the Society, Sarah Horsman is a director of Sheldon Ltd and Sheldon Lane 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 2025 was £35,000 (2024:£35,000). The company gifted £27,444 (2024: £4,912) to the Society during 2025. At 31 December 2025 the Society was owed £Nil (2024: £nil) by Sheldon Ltd. Sheldon Lane 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 2025 was £20,000 (2024:£nil). The company gifted £nil (2024: £nil) to the Society during 2025. At 31 December 2025 the Society was owed £4,147 (2024: £nil) by Sheldon Lane Ltd. The total value of sales to Sheldon Lane Ltd was £5,000 (2024:Nil) during the financial year. 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 were provided. His wife Mrs Susan Lee lives in residential care and 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 £14,030 including pension contributions (2024: £13,639). During the year £9,609 (2024: £9,561) was paid to the son of Mr Carl Lee and £929 (2024: £3,184) 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, £2,345 (2024: £2,135) was paid to the son of Mr Carl Lee for the rental of various equipment for use at the Sheldon site. There were no additional related parties or related party transactions identified through reviewing Xero transactions or the meeting minutes. Page 34