Open Pathway Retreat Centre
Charity No. 800412
Company No. 02294320
Trustees' Report and Unaudited Accounts
31 January 2022
Open Pathway Retreat Centre Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Summary Income and Expenditure Account | 9 |
| Balance Sheet | 10 |
| Notes to the Accounts | 11 to 19 |
Page 1
Open Pathway Retreat Centre Trustees Annual Report
Open Pathway Retreat Centre & Training College
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 January 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 02294320
Charity No. 800412
Principal Office
Laurel Lane Queen Camel Yeovil Somerset BA22 7NU
Registered Office
Laurel Lane Queen Camel Yeovil Somerset BA22 7NU
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
P.S. Beard M.A. Chappell N. Daniel
Company Secretary
D.F. Casley
Accountants
Charltons Accountancy Limited The Offices Middle Farm Charlton Horethorne Sherborne DT9 4NL
Bankers
Lloyds Bank Plc 9 High Street Yeovil BA20 1RN
Page 2
Open Pathway Retreat Centre Trustees Annual Report
Independant Examiners
Debbie Risborough (FCCA) Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 1LS
OBJECTIVES AND ACTIVITIES
The purpose of the charity as set out in its governing document is ' the advancement of health'. The trustees define this as being to serve the public good by promoting the study and practice of the art and science of meditation and natural healing.
The main activities undertaken in relation to those purposes are as follows:
- Kriya Meditation & Peace Meditation - By learning meditation techniques & practices individuals benefit from physical, emotional, mental & spiritual wellbeing. This wellbeing helps them in their interaction with others, making that interaction a positive one. Therefore not only those practising meditation benefit but, like ripples in a pool that benefit spreads out to society in general.
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Natural Energy Therapy/ Progressive Counselling/ Transformation Hatha Yoga and other therapies and self-help courses - These also help people to transform and empower their lives in a very positive sense, once again positively affecting society in general.
-
Retreats - By spending from an hour to a day to a week or more, to reflect & unwind within the Charity's environs, including its gardens and therapy pool, to imbibe in the peaceful surroundings of the Centre, people leave refreshed, relaxed and inspired.
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Bursaries - A direct financial help to those with limited income to benefit from the facilities and courses the the Charity has to offer.charity has to offer.
There are various volunteer contributions including: Regular volunteers which vary but generally consist of 1 person on reception and 1 or 2 general helpers. Occasional volunteers may vary as these are used for specific projects, e.g. maintenance. There may also be 1 or 2 temporary community members.
ACHIEVEMENTS AND PERFORMANCE
The charity continues to streamline existing operations so that practical aspects are more time, energy and labour efficient, whilst also being more accurate and complete. The process of further training of paid and volunteer staff continues each year, so that senior members can act in a more supervisory role and use their time more creatively and expansively and focus more on the in depth spiritual work. There is still more demand for this work. The charity is committed to training, both within the Centre and for the many who wish to take this ethos into their own lives. Empowering others in all ways is central to the charity's objectives. As a professional training school, the charity continues to train Natural Energy Therapists, Intuitive Guidance Coaches and Yoga teachers. The teacher training programme also includes Peace Meditation, Holistic Energy Care, Animal Energy Therapy and specialist Hatha Yoga certificate courses. The Centre's Course Programme continues to reflect new courses.
Page 3
Open Pathway Retreat Centre
Trustees Annual Report
The Centre's membership role for Natural Energy Therapists, Intuitive Guidance Coaches/Progressive Counsellors and Yoga teachers under the title of Open Pathway Associates continues to bring more and more important work with it. Not only do Associates receive support (practical, spiritual and by receiving updates and new information important to their prospective roles) access to a referral list and insurance as benefits of membership, they also benefit from the work the Centre members do at exhibitions and with regulatory and advisory bodies. Associates have no 'voting' rights in the running of the Centre. The Centre's clinic continues to serve patients for both Natural Energy Therapy and Intuitive Guidance. As a Retreat Centre, the Centre continues to accommodate people in need.
FINANCIAL REVIEW
The trustees consider the financial performance by the charity during the year to have been satisfactory in light of the huge financial impact of the on-going Covid-19 pandemic. Supported by the sale of a property (Owl Cottage), the level of funding during the year was adequate to support both the continuation of the charity's work and its financial commitments at the time, but was not sustainable long term. The Trustees are hopeful that as restrictions continue to ease and the country gets to a post pandemic phase, funding will increase again.
During the year the trustees continued to address the various governance issues raised under the Charity Commission warning of October 2020. This work was completed in the early part of the financial year and the warning was lifted during October 2021. As in the previous year, the charity has incurred costs in respect of this regulatory and restructuring work, specifically increased employment costs and premises costs. Although the regulatory has now been successfully completed, the restructuring work continues and further related costs are envisaged in the coming financial year.
Claims made against the charity have been reported to the Charity Commission and legal support is being taken. The work continues and a contingent liability exists upon the charity. This is not shown in the accounts as this cannot be quantified at this stage.
Due to the current situation in the financial markets the Charity's investment policy is one of flexibility and funds continue to be held in a number of accounts to reduce risk. The Charity feels it is important that investments should be as risk free as possible.
The principal funding source for the Charity is accommodation (including Self Catering and Personal Retreats) and course fees. Fees for Natural Energy Therapy, Intuitive Guidance/Coaching and use of Therapy Pool also contribute. Donations are encouraged, particularly by regular direct debit, which helps to fund Bursaries for those in need. Large donations require the person donating to seek legal advice first.
It is the policy of this charity to hold 3 months running costs in reserve to cover unforeseen emergencies, and to fund any shortfall in income resulting from recent restructuring and the economic effects of Covid-19. The level of reserves currently required is £45,000, to be reviewed quarterly at trustee meetings. Reserves held at the year-end were £120,315.54 in the Charity's main bank account. This policy is to be reviewed in August 2022.
PLANS FOR FUTURE PERIODS
The Centre will continue to adapt to meet the changing needs of those it serves. The focus will always be on teaching Meditation. Although the Centre is going through a period of contraction in some avenues, and this may continue for some time with the economic effects of Covid-19, the Trustees feel confident that the teacher training programme will expand again, and that more outreach work can be done which will, in turn, provide even more demand for Meditation.
Page 4
Open Pathway Retreat Centre Trustees Annual Report
The Charity will continue to train and support those who wish to take this way of living into their own lives. The Charity's involvement in accrediting organisations to help to set standards is continuing and the Charity will continue to meet and aim to exceed the standards of all accrediting organisations to which it belongs or seeks to belong.
The Charity will continue to streamline and refine its procedures and delegate the practical aspects where appropriate so that those members with specialist training can focus more on expanding the spiritual work to meet the ever growing demand.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is constituted as a company limited by guarantee registered under the Companies Act incorporated on 8 September 1988 and registered as a charity on 1 February 1989 (Change of names took place on 13 March 1999, 22 December 1992, 19 September 2018 and to current on 22 March 2022). It is governed by its Memorandum and Articles of Association. In the event of the company being wound up, directors are required to contribute an amount not exceeding £1.
The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation. There are no restrictions in the governing documents on the operation of the charity or on its investment powers other than those imposed by Charity Law. By operation of law, all trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation. The trustees are all individuals.
All directors of the company are also trustees of the charity, and there are no other trustees. The board has the power to appoint additional trustees as it considers fit. As positions become available, or as the board sees fit, it seeks to appoint trustees with an understanding of the nature, depth and scope of the work of the charity and those who can bring to its management their own particular skills, experience and outlook to encourage continual expansion of thought and direction.
New trustees would normally already be familiar with the work of the charity. Through copies of past minutes, they gain a deeper understanding of the background work involved in the management and day to day running of the charity, further insight being given by our Trustee/Company Secretary who is part of the Senior Management Team. As the work of the Charity expands and new systems come into operation, all trustees are kept informed by relevant departmental reports at the quarterly meeting.
Trustees are encouraged to spend time at the Centre to view and experience at first hand any changes taking place and to become familiar with key members of staff.
Page 5
Open Pathway Retreat Centre Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
N Daniel Trustee 01 December 2022
Page 6
Open Pathway Retreat Centre Independent Examiners Report
Independent Examiner's Report to the trustees of Open Pathway Retreat Centre
I report to the charity trustees on my examination of the financial statements of Open Pathway Retreat Centre for the year ended 31 January 2022 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (''the 2011 Act''). The trustees consider that an audit is not required for this year under section 144(2) of the 2011 Act and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission
-
under section 145 (5) (b) of the 2011 Act;
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and state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all of the evidence that would be required for an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below
Independent examiner's statement
In connections with my examination, no matter has come to my attention:
-
1) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep accounting records in accordance with section 386 of the Companies Act 2006 and section 130 of
-
the 2011 Act ;and
-
to prepare accounts which accord with the accounting records, comply with the accounting
requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met;
2) or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Debbie Risborough (FCCA)
Cornwall Community Accountancy Service
The Elms, 61 Green Lane
Redruth
Cornwall
TR15 1LS
01 December 2022
Page 7
Open Pathway Retreat Centre Statement of Financial Activities
for the year ended 31 January 2022
| Notes Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Other 7 Total Expenditure on: Charitable activities 8 Other 9 Total Net gains on sale of fixed assets Net income/(expenditure) 10 Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 9,183 67,867 30 32,635 |
Total funds 2022 £ 9,183 67,867 30 32,635 |
Total funds 2021 £ 5,025 72,002 85 32,436 |
|
|---|---|---|---|---|
| 109,715 18,699 200,707 |
109,715 18,699 200,707 |
109,548 31,803 133,262 |
||
| 219,406 137,420 |
219,406 137,420 |
165,065 - |
||
| 27,729 - |
27,729 - |
(55,517) - |
||
| 27,729 | 27,729 | (55,517) | ||
| 27,729 1,599,592 |
27,729 1,599,592 |
(55,517) 1,655,109 |
||
| 1,627,321 | 1,627,321 | 1,599,592 |
The statement of financial activities includes all gains and losses recognised in the year
Page 8
Open Pathway Retreat Centre Summary Income and Expenditure Account
for the year ended 31 January 2022
| Income Profit on disposal of fixed assets Interest and investment income Gross income for the year Expenditure Interest payable Depreciation and charges for impairment of fixed assets Total expenditure for the year Net income/(expenditure) before tax for the year Net income /(expenditure )for the year |
2022 £ 109,685 137,420 30 247,135 207,179 787 11,440 219,406 27,729 27,729 |
2021 £ 109,463 - 85 |
|
|---|---|---|---|
| 109,548 | |||
| 152,225 - 12,840 |
|||
| 165,065 | |||
| (55,517) (55,517) |
Page 9
Open Pathway Retreat Centre Balance Sheet
at 31 January 2022
| Company No. 02294320 Notes Fixed assets Tangible assets 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors:Amount falling due within one year 15 Net current assets Total assets less current liabilities Creditors:Amounts falling due after more than one year 16 Net assets excluding pension asset or liability Total net assets The funds of the charity Unrestricted funds General funds 17 Reserves 17 Total funds |
2022 £ 1,530,776 1,530,776 375 - 148,007 |
2021 £ 1,608,439 |
|
|---|---|---|---|
| 1,608,439 790 1,577 63,752 |
|||
| 148,382 (18,504) 129,878 1,660,654 (33,333) 1,627,321 1,627,321 1,627,321 1,627,321 1,627,321 |
66,119 (31,633) |
||
| 34,486 1,642,925 (43,333) |
|||
| 1,599,592 | |||
| 1,599,592 | |||
| 1,599,592 | |||
| 1,599,592 1,599,592 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 January 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 01 December 2022
And signed on its behalf by:
N. Daniel
Trustee
01 December 2022
Page 10
Open Pathway Retreat Centre Notes to the Accounts
for the year ended 31 January 2022
1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular Designated funds purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the income charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in legacies the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market revaluation of fixed value at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 11
Open Pathway Retreat Centre Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
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Expenditure on These comprise the costs associated with attracting voluntary income, raising funds fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities charitable activities and services in the furtherance of its objects, including the making of grants and governance costs.
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Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
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Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 0.5% Straight line Plant and machinery 25% Reducing balance Motor vehicles 25% Reducing balance
The Charity has a general policy of capitalisation of fixed assets if the value of the individual asset purchased exceeds £300. In rare circumstances the Charity may consider an item of value under £300 should be capitalised due to its nature
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 12
Open Pathway Retreat Centre Notes to the Accounts
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 13
Open Pathway Retreat Centre Notes to the Accounts
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Charitable activities Investments Other Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 4 Income from donations and legacies Donations and legacies |
Unrestricted £ 9,183 9,183 |
Unrestricted funds Total funds 2021 2021 £ £ 5,025 5,025 72,002 72,002 85 85 32,436 32,436 |
Unrestricted funds Total funds 2021 2021 £ £ 5,025 5,025 72,002 72,002 85 85 32,436 32,436 |
|---|---|---|---|
| 109,548 109,548 31,803 31,803 133,262 133,262 |
|||
| 165,065 165,065 |
|||
| (55,517) (55,517) |
|||
| (55,517) (55,517) |
|||
| (55,517) (55,517) 1,655,109 1,655,109 |
|||
| 1,599,592 1,599,592 |
|||
| Total Total 2022 2021 £ £ 9,183 5,025 9,183 5,025 |
|||
Page 14
Open Pathway Retreat Centre Notes to the Accounts
5 Income from charitable activities
| Charitable activities Sales of good & pulications Misc fundrasing activity Income from pool memberships Associate subscriptions and activity Accommodation relating to yoga retreats 6 Income from investments Bank interest receivable 7 Other income Coronavirus rates relief grant Holiday accomodation Hire of centre as venue |
Unrestricted £ 27,568 1,637 781 9,800 2,075 26,006 67,867 Unrestricted £ 30 30 Unrestricted £ 3,143 22,530 6,962 32,635 |
Total Total 2022 2021 £ £ 27,568 20,235 1,637 20 781 511 9,800 6,710 2,075 1,604 26,006 42,922 |
|---|---|---|
| 67,867 72,002 |
||
| Total Total 2022 2021 £ £ 30 85 |
||
| 30 85 |
||
| Total Total 2022 2021 £ £ 3,143 21,357 22,530 11,079 6,962 - 32,635 32,436 |
Page 15
Open Pathway Retreat Centre Notes to the Accounts
8 Expenditure on charitable activities
| Expenditure on charitable activities Food & consumables Stock movement Bursaries Cleaning and cooking Payments to associates Governance costs Independent examiners fees Accountancy fees 9 Other expenditure Bank loan and overdraft interest payable Employee costs Motor and travel costs Premises costs Amortisation, depreciation, Impairment of fixed assets General administrative costs Legal and professional costs 10Net income/(expenditure) before transfers This is stated after charging: Depreciation of owned fixed assets |
Unrestricted £ 11,850 415 3,316 - 315 890 1,913 18,699 Unrestricted £ 787 62,091 2,713 81,640 11,440 18,476 23,560 200,707 2022 £ 11,440 |
Total Total 2022 2021 £ £ 11,850 11,793 415 1,106 3,316 2,779 - 13,489 315 633 890 1,175 1,913 828 |
|---|---|---|
| 18,699 31,803 |
||
| Total Total 2022 2021 £ £ 787 - 62,091 8,141 2,713 1,670 81,640 49,082 11,440 12,840 18,476 20,628 23,560 40,901 |
||
| 200,707 133,262 |
||
| 2021 £ 12,840 |
Page 16
Open Pathway Retreat Centre Notes to the Accounts
| Open Pathway Retreat Centre Notes to the Accounts |
|||
|---|---|---|---|
| 11Staff costs Salaries and wages Pension costs Training |
2022 57,104 773 4,214 62,091 |
2021 5,508 - - |
|
| 5,508 |
No employee received emoluments in excess of £60,000.
Key management personnel
Remuneration paid to key management personnel, which consist of 3 centre managers, during the year was £57,877.
The average monthly number of full time equivalent employees during the year was as follows:
| Administration | 2022 Number 3 3 |
2021 Number 3 3 |
|
|---|---|---|---|
The charity operates a defined contribution pension scheme for employees. The scheme was set up on 1 February 2021. Contributions are payable into a NEST pension scheme.
12 Tangible fixed assets
Cost or revaluation At 1 February 2021 Additions Disposals At 31 January 2022 Depreciation and impairment At 1 February 2021 Depreciation charge for the year Disposals At 31 January 2022 Net book values At 31 January 2022 At 31 January 2021 13Stocks Raw materials and consumables Carrying value analysed by activities Charitable activities |
Land and buildings £ 1,752,122 - (75,890) 1,676,232 155,914 8,381 (8,727) 155,568 1,520,664 1,596,208 |
Plant and machinery £ 125,987 940 - 126,927 119,575 1,604 - 121,179 5,748 6,412 |
Motor vehicles £ 24,138 - - |
Total £ 1,902,247 940 (75,890) |
|
|---|---|---|---|---|---|
| 24,138 | 1,827,297 | ||||
| 18,319 1,455 - |
293,808 11,440 (8,727) |
||||
| 19,774 | 296,521 | ||||
| 4,364 | 1,530,776 | ||||
| 5,819 | 1,608,439 | ||||
| 2022 £ 375 375 2022 £ 375 375 |
2021 £ 790 |
||||
| 790 | |||||
| 2021 £ 790 790 |
Page 17
Open Pathway Retreat Centre Notes to the Accounts
14 Debtors
| Trade debtors 15Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Other taxes and social security Other creditors Accruals 16Creditors: amounts falling due after more than one year Bank loans and overdrafts 17Movement in funds Restricted funds: Unrestricted funds: General funds Total funds 18 Analysis of net assets between funds Fixed assets Net current assets Creditors due in more than one year and provisions |
At 1 February 2021 1,599,592 1,599,592 |
2022 £ - - 2022 £ 10,000 3,516 - 3,188 1,800 18,504 2022 £ 33,333 33,333 Incoming resources (including other gains/losses) £ 247,135 247,135 |
Resources expended £ (219,406) |
2021 £ 1,577 |
||
|---|---|---|---|---|---|---|
| 1,577 | ||||||
| 2021 £ 6,667 10,409 214 11,669 2,674 |
||||||
| 31,633 | ||||||
| 2021 £ 43,333 |
||||||
| 43,333 | ||||||
| At 31 January 2022 £ 1,627,321 |
||||||
| (219,406) | 1,627,321 | |||||
| Unrestricted funds £ 1,530,776 129,878 (33,333) |
Total £ 1,530,776 129,878 (33,333) |
|||||
| 1,627,321 | 1,627,321 |
Page 18
Open Pathway Retreat Centre Notes to the Accounts
19 Reconciliation of net debt
| n Pathway Retreat Centre es to the Accounts Reconciliation of net debt |
||
|---|---|---|
| Cash and cash equivalents Bank loans Net debt |
At 1 February 2021 £ 63,752 63,752 (50,000) (50,000) 13,752 |
At 31 January Cash flows £ 84,255 2022 £ 148,007 |
| 84,255 148,007 6,667 (43,333) |
||
| 6,667 (43,333) |
||
| 90,922 104,674 |
20 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 19