Charlty reglstratlon number 900339 (England and Walès} Company roglstratlon number 02459323 GAIA HOUSE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
GAIA HOUSE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees T Blanch A Lacey P Sutherland P Slevenson A Rodogovsky S Alyce J Hodder (Appointed 23 Sept6mber 20241 (Appointed 5 December 2024) V Murphy Secretary T Blanch Charity number (England and Wales) 900339 Company number 02459323 Principal address Gaia House West Ogwell Newton Abbot Devon TQ12 6EW Registered office Gaia House West Ogwell Newton Abbot Devon TQ12 6EW Auditor Streets Audit LLP Tower House Lucy Tower Street Lincoln Lincolnshire LN1 1XW Bankers HSBC Newton Abbot 42 Courtenay Street Newton Abbot Devon TQ12 2EB Solicitors Tozers Broadwalk House Southernhay W6st Exeter Devon EX11UA
GAIA HOUSE TRUST CONTENTS Page Trustees. report Statement of trustees, responsibilities 10 Independent audilor's report Statement of financial activities 14 Balance sheet 15 Statement of cash flows 16 Notes to the financial 5talements 17-29
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Tha Irusta&s present th6ir report and financial statements for the year ended 31 Decembèr 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial stalemenls and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 1021" las amended for accounting periods commencing from 1 January 2016) Objedives and activffitles Our purposes are set out in the objects within our memorandum of association, and are.. To preseNe, protect and enhance physical, mental, emotional and spiritual health by the provision of a cenlre for the instruction and practice of meditation. To provide education and instruction in meditation. In pursuit of Ihese purposes. we aim to provide a year-round progratnme of residential and online meditation retreats and evenls of varying length led by teachers from different backgrounds. The meditation and instruction are all drawn from the Buddhist tradition. We are not sectarian. but primarily draw upon teachings that are compatible with Ihe contemporary Vipassana or Insight Meditation tradilion and its focus on meditation as a beneficial transfomialive process. with our retreats concentrating primarily on silent medilation ralher than a ritual-based or liturgical content. To maintain an inspiring and reflective environment for our retreats, we also aim to support the resident staff who care for those who stsy with us and do the day-to-day work of running the house., we aim to look after the grounds and fabric of the retreat centre- and to maintain silence within the house and gardens. We aim to make retreats and other activities accessible to all, subsidising and offering financial assistance with the cost of retreats for people for whom the cost is too high. Ensuring our work delivers its aims Each year we review the successes and otherwise of the previous year's programme as we embark upon compiling the next year's programme. After each retreat we ask relreatants to complete feedback forms, and we note comments on our administration, facilities, the quality of teaching, and the types of retreat on offer. Our resident staff are central to the success of our centre, so they have regular supervision sessions from department managers which provide opportunities for feedback from them. The Teacher Council members provide advice and feedback on our strategic development. the quality of the programme and the quality of Ihe environment offered by our buildings and grounds. Trustees, teachers, the director and staff work closely together to ensure that our aclivities are aligned with our objects and thal we comply with the Charity Commission's guidance on public benefit. The focus of our work We continue to develop our meditation programme- we are working to make our offerings available to people of all backgrounds. and lo care for our buildings and grounds. We work in a way that embodies our ethical principles, based on compassion and non-harming. Alongside the intention lo enhance wellbeing we bring into the instruction of meditation an awareness of our impact upon others by taking care to lessen our environmental impact. We aim to offer a balanced residential Retreat Programme that caters for those new to meditation as well as those who are more experienced. Residenlial retreatants are normally accommodated in a range of single, double and dormitory style rooms. One wing of the house is set aside for individuals to come on self-directed meditation retreats of one week or more whilst receiving instruclion from our teacher in residence. We also offer a variety of online and livestreamod relreats.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 We are committed to enhancing our offering and making It more widely available to a more diverse population and moving our events online has contributed lo Ihis significantly. Gaia House has a Diversity and Inclusion Working Group that explores the ways we might pul up uninlenlional barriers to people who may benefit from what Gaia House offers. This working group has developed resources and explored training opportunities to raise our collective awareness of prejudice and privilege, and ways that unconscious communication and action might leave people excluded from our offerings. We support new teachers by inviting them to lead short retreats as well as worklng alongslde experienced teachers on longer retreats. This ensures that there are sufficient teachers available to lead retreats and provide us with support in the longer term. In addition to our policies and procedures that help to safeguard vulnerable adults who might come to Gala House, our induction and training offers staff and teachers support in taking appropriate care of everyone who visits as well as our responsibilities to prevent and respond to safeguarding issues. We use a variety of media to communicate with those who use our sel¢eS to ensure that their needs are fflet and that they have a sense of being well looked-afler. Our website is regulaTly updated and contains clear information about our prices and the subsidies we offer in order to support Ihose for whom slandard prices are too high. We use email newsletters and social media alongside our website to ensure that Ihose who wish to keep in louch with our offerings and activities are kept up to date during the year. We publish our yearly programme on our web51te in two parts. the first quarter is published in the summer of the preceding year and the remainder of Ihe programme in autumn. We circulate a printed programme to our mailing lisl, and on request, to other meditation centres and ffleditation silling groups in the UK. We continue to maintsin the Grade 2 listed building. which we occupy. and manage the grounds using organic gardening methods. Our leam of resident staff play a key role in supporting those who stay at Gaia Holfse on retreat and taking care of the building. We provide them with a support package to ensure that they are able to live and work here whilst still finding it a rewarding and fulfilling experience that contributes to their own well-being. In accordance with the tradition of insight meditation our teachers offer their services free of charge. At the end of retreats the retreatants are invited to make donations to the teachers to help them with their living costs. This helps us keep our prices low whilst still being able to offer retreals led by experienGed and well-known teachers. Public benèfit The trustees have paid du8 regard to guidance issued by the Charity Commission in deciding what aGtiviti6S the charity should undertake. Significant Aclivities In 2024, our in-person group retreats at Gaia House retufned to pre-pandemic booking levels with most retreats fully booked (though without the length of waiting lists we used to soe}. The varied programme of online retreats and evenls throughout the year ha5 evolved and become more integrated with our in-person retreats. This has expanded to include a very popular, free, daily morning Meditation, This together with a number of similady free online lalks has built a stable online practice community. In-person retreats still provide most of the charity's income, however, our online events now bring in a significant part of our income - allowing us to make more of our offerings financially accessible to all. We are largely at capacity with the number of people we can accommodate at our premises in West Ogwell, so the potential for growth in now online and a growing le8m of slaff are developing this further. Online events significantly conlribule to our intentions to b8 universally accessible, bolh physically and financially. They also offer flexibilily in the formats of delivery Ihal can be explored. Outside of the conlext of a silent retat environment, lalks, discussion and other interactive modalities are now being offered.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Developing the house and grounds We added another polytunnel and installed an electricity supply to the wallèd garden to allow lighting and heat pads to exlend Ihe growing season. We construGted 8 covered work and storage area for maintenance activities which has freed up storage areas in the house. Wé paint6d the dining room and trealed all the dining tab18s as well as d8ep cleaning the meditation hall and Denbury Wing. We started a process of replacing and upgrading bedding and mattresses throughout the house. Developing our Human Resources In 2024 we recruited a new, part-lime Online Support role to help grow our online events programme. otherwise, our non-residential staff team has remained unchanged in 2024. Developing our technological resources A complete redesign of our website has been a significant project in 2024. This is progressing well and should launch in 2025. We have been steadily replacing old computers ready for the ending of support for Windows 10 in 2025. We have invested in upgraded security for our email systems. Maintaining financial stability and resourcing our future plans 2024 was a year of consolidation after the disruption of the covid pandemic. The prOsS of recovery began in 2023, bul we ended that year wilh reserves still below our larget Sevel. In 2024 we budgeted for a larger surplus to restore our reserves and ended up ahead of budget due to strong online bookings and fundraising. Due to our healthy position at the end of 2024, we have been able to plan for projects in 2025 which will reduce our energy use and carbon footprint going forwards. These include installing PV panels, connecting the Hermitage bathrooms to the biomass boiler and removing Ihe electric showers in that wing. Thanks to a grant from the Hemera Foundation we have been able to plan for Family Retreats in 2025 and 2026. These retreats are popular and provide a unique opportunity for parents and children to benefit form our offering. However, they are expensive to run and bring in less income than our regular retreats. The grant will fully cover the extra expenses and loss of income. How our activities dellver public bonofit The main activities in support of our charitable objeclives are described in earlier sections of this report. Information about the number of people who have attended our programme and the firiancial support with costs that they have received is delailed in the section on "Achievement and Performance" below. Volunteers Gala House is supported throughout the year by Ihe dedicated work of a community of volunteers who help to take carg of the running of the house, and maintenance of its grounds. During 2024 volunteers offered 1,216 hours of service at Gaia House and 34 volunteer days of support to the online programme.
GAIA HOUSE TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Strateglc report Th6 description under the headlngs "Achievements and performance" and 'Financial review" meet the company law requirements for the trusteos to present a strategic report. Achievements and performance Charitable activltles Key facts (figures in brackets relate to 2023): 39 {39) in-house residential group retreats from 1 to 28 days long were attended by 1784 (1693) people for a total of 8827182031 nights. 238 (198) people stayed on personal retreat for a total of 4014 (3450) nights. 47 (36) online events were attended by 384712261) people. The charitS Financial Assistance and Bursaries Fund made grants of £105.941 (£98,202) to 465 (4281 retreatants. This includes £20,850 (£20.135) to 75(68) young people. And £13,710 (£12,469) to help 193{167) people to pay our lower supported rates. Our charitable activities are also described in the sections on 'Focus of our work. and 'Significant Activities.. General Data Protection Regulation {GDPR) In line with our commitment to best practice around data proteclion, we continue to meet the requirements of the GDPR which came into effect in May 2018 across all areas of Gaia House including the newly offered online 8ctivities. We will continue to review and monitor in this area. Fundralsing aclivities Thanks to the generosity of our supporters, in 2024 we raised £249.206 from individual donors and regular givers. The highlight of the fundraising year was our end-of year Greening Appeal, which focused on reducing Gaia House's carbon footprint by raising money to install a new roof with solar panels on our Garden Wing. There was a steady increase in the number of supporters making monthly donations to Gaia House. The number of monthly donors increased by 41 in 2024. Investment Performance Investments are held in Epworth Investment Managemenl Company and were valued at £92,677 on the 31 December 2024 (2023. £85,002) an increase of £7,675. Financial review Financial Position The charity made a surplus in 2024 of £298,415 compared with a surplus in 2023 of £171,575. Total incoming resources in 2024 were £1,366,290 compared to £1.152,109 in 2023. Retreat income in 2024 was £1,014,750 compared to £875,128 in 2023. Expenditure in 2024 was £1.072.825 compared to £987,410 in 2023.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves Pollcy Definition of reserrfes Reserves are that part of a charity's unrestricted fuhds that is freely available to spend on any of the charity's purposes. Gaia House Trust's reserves are calculated as total funds less the value of fixed assels, restricted and designated funds. All the Trust's fixed assets (such as buildings and equipmenl) are essenlial to the running of the charity, so their value is excluded from the calculation of reserves. Reason for holding reserves Gaia House Trust holds reseNes primarily to insulate against unexpected variations in income or expenditure. The Trust considers an event that disrupts the running of our residential retreat cenlre to be the most significant risk to our financial stability. Target reserves The Trust aims to hold reserves equal to budgeled expenditure for the following six months. Following our experience during the covid-19 disruptions of 2020-1 the Trust considers Ihis level of reserves suITicient to allow us to continue operating following a disruption to our residential retreats and give us time to fundraise and pivot to alternative activities such as online events. Reporting of reserves The current level of reserves should be reported lo the Trust by the Finance Manager at every Trust and Finance and General Purposes (F&GP) committee meeting. Actions to take if target is missed The Trust should consider the level of reserves when planning for future income and expenditure. There are several actions the Trust can take to impacl future incomelexpenditure and hence resees. These include making changes to- Retreat pricés Financial Assistance and Bursaries Fund allocations Budgets for development projects Reviewlng policy The policy should be revlewed yearly during the Trust meeting that coincidgs With the AGM. Current Roserves Reserves at 31112124 stood at £663,439 compared to our target of £570,000. Wo have set a budget for 2025 which aims to reduce our reseNes through Ihe following measures.. Running four residential Dana retreats which don't require a booking fee. Increasing support offered through the Financial Assistan and Bursaries Fund. Increased infrastructure investment.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 RestrlctedlDeslgnated Funds Family Retreal Fund.. £45,200 This will be used to subsidise the runnlng of Family Retreats in 2025 and 2026, Green Development Fund,. £15,000 Donations given to improve energy efficiency and reduce environméntal impact of our operations. £12.000 is budgeted for 2025 to install PV panels. Save Water Fund.. £20,200 Historical fundraising for water and energy efficiency projecls. This will be spent in 2025 on improvement to the Hermitage showers and hot water system. Cyclical maintenan Fund- £57,062 We budget £20,000 per year for high-value, low-frequency maintenance projecls. The Cyclical maintenan Fund will increase or decrease depending on whether actual spending is more or less than this. £46,000 is budgeted for 2025 to replace Ihe Garden Wing roof. Investment policy and objectives We have, in line wilh our ethical principles, chosen to invest with Epworth Investment Management Company and in 2024 they yielded dividends of£2,725 (2023 £4,132). Risk management The truslees have assessed the major risks to which the charity is exposed and are satisfied thal there are systems are in place lo mitigale exposure to the major risks. The Gaia House risk register is reviewed annually by the Trust. It is also updated as required in response to new events or changes in legislation which need lo be reflected and managed by Gaia House. Appropriate actions are taken lo minimise the impact ol risks to acceptable levels, whilst taking into account the size of our organisation. Plans forfuture periods Our work to make what we offer more universally accessible, both financially and culturally has bome fruit. and continues to be developed. We have arranged a number of retreats for 2025 that are being offered purely on the basis of people's generosity, and if this goes well it may be extended further. Dharma teachings are always freely offered on the basis of mutual gener051ty by the teachers, but additional income from our online programme and the generosity of our community is now allowing us to sustsin the running costs of some retreats this way also. Gaia House would like to continue to extend this model. This emphasis not only embraces and nurtures a culture of generosity, which is very much in- line with the meditation teachings Gaia House promotes, but additionally. makes events that ar8 offered on a 'Dana' or generosityldonalion basis accessible to anyone, no matter their financial circumstances. Our continulng commitment to diversity and inclusion has developed in our communlcations practices, training and policy developmenl. We continLte a programme of trainlng to support greater awareness and sensitivity within our team for supportlng p80ple with a range of different identities. Our Community Dharma Leaders programme is tralning a diverse range of students, preparing them to support meditation leaching and practice in their local and identity communities, The first graduates should complete in September 2025.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 structuré* govèrnance and managemont Governing document Gaia Hous8 Trust is a company limit6d by guarantee, and registered as a charity in 1990. The company was established under a Memorandum of Association which established the objects and powers of the charitable ompany, and is governed under Its Articles ofAssociation. The trustees, who are also the dlrectors for the purpose of company law, and who seNed during the year and up to the date of signature of the financial statements were: T Blanch A Lacey H Higginson P Sutherfand P Stevenson A Rodogovsky S Alyce J Hodder V Murphy (Resigned 10 March 2025) (Appointed 23 September 2024) (Appointed 5 December 20241 Recruitment and appointment of new trustees All trustees give their time voluntarily and receive no benefits from the charity. Expenses are reGlaimed by some. and this is noted in the accounts. The Trust continues to develop, recruiting people with a diversity of perspeclive and breadth of social location, skills and professional experience amongst its members. New trustees are recruited via Gaia House's email newsletter, the website and by personal approaches. It is important for trustees to have an understanding of and sympalhy with the work of the charity. so it is normally necessary for potential trustees to have attended retreats at Gaia House before Ihey can be seriously considered for this role. Organlsatlonal Structure and Declslon Making The Trust, consisting of 9 trustees at 3111212024, develop the strategic direction and policies for the charity wilh tho support of a Strategic Steering Group comprised or experienced Trustees, Senior Slaff and represenlatives from Ihe Teacher Council. This body has representation across the organisation to ensure recommendations and decisions are joined up and grounded in practicable logistics. The Director also attends the Trust meetings along with other slaff as appropriate. The Trusl prefers to make decisions based on consensus, allowing individual views and concerns on particular issues to be addressed as thoroughly as possible. The Trust met three times in 2024. The Finance and General Purposes Commiltee met three limes during 2024. This group has a quorum of three Trustees, is also attended by the director and makes operational and strategic recommendations to the Trust. The Gaia House Teacher Council continues to offer the essential role of offering expert advice to the board of trustees. The Teacher Council offer guidan on how the Dharma (the leachings of the Buddha) is best offered and by whom at Gaia House. This operates through the Strategic Steering Group, representation at Trust meetings and a system of Committees that include teachers and trustees, supported by relevant staff members. Membership of our Commlttoes that support a range of operational areas comprlses at least one Truslee and one Teacher, the Director and other management staff support as appropriate. Specific areas covered by Committees and Working Groups are Programme Planning, Relreatant Financial Supportl Financial Assistance and Bursaries Fund, Retreal Environment, Communications, Diversity & Inclusion and Strategic Steering. Day to day responsibility for opprations is delegated to the Director, supported by the Operalions Lead, Staff Support Teacher and a team of 6 department managers (Finance, Development, Programme, Malntenance, Communications and Kitchen & Garden,) as well as 9 other non-residential staff, and the team of 8 resident staff.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Thè Director's responsibility covets the following operation81 areas: To help tha Trust to develop its short-term survlval strategy as well as its longer-term vision. To deliver an effe¢llve programme of online 8nd In-house activities in consultation wlth representatives of the Teacher Council. To develop a strategy for the long-temi suslainability and development of Gaia Housa bullding, minimising its carbon footprint as much as is practicable. To ensure that staff and volunteers achieve their full potential by means of mentoring, support and relevant training. To implement effective fund-ralsing and marketing strategles. To oversee financial and resource planning and to ensure compliance with relevant legislation and regulation. To develop as an organisation that challenges prejudi and ignorance of all kinds, including being actively anti- racist in support of the Trust's commitment to diversity, eqLtality and inclusion. • To ensure that retreats are culturally and financially accessible to all. Induction and training of new trustees Attendance on retreats over a number of years is an effective introduction to the work of the charity- New trustees follow an induction programme that includes spending time with staff in order to become fully familiar wÈth the work of Gaia House. They now altend Iwo Trust meetings as provisional trustees in order to gain a thorough understanding of their roles and responsibilities. This gives the Trust an opportunity to assess the applicant's suitability for the role and gives the applicant an opportunity to understand the role they are applying for. New trustees are formally appointed only after they have successfully completed the recruitment process. We welcome requests to join the Gaia House Trust through our website. Wider network Gaia House has links with a wide network of mindfulness and meditation organisations throughout the UK. Through ils teachers it maintains close links with Mindfulness Programmes at Oxford, Exeter and Bangor universities as well as Bodhi College and similar centres such as Sharpham Trust. Via its website, Gaia House also facililates networking between meditation sitting groups throughout the UK. Gaia House also operates within a western Iradition of Insight Meditation centres, and links are maintained wlth similar centres in the USA and Europe- the Insight Meditation Society in Barre, Massachusetts- Spirit Rock in Califomia; Dharmagiri in South Africa,. and Ihe Beatenberg Centre in Swi12eriand. Related parties Any related party inlerests are declared by trustees and other participants in meetings. None of our trustees recelve remuneration or other benefits from their work as trustees other than the reimbursement of expenses. All new members of Trust, Ils Committees and Advisory and Working Groups are made aware of the Charity Commission guidance and definition of related party interests and the need to declare any interest eilher at Ihe start of a meeting or when an item becomes relevant to make a declarallon. Depending on the item appropriate action Is then taken regarding that item and the trustee's involvement. Auditor In accordance wilh the company's articles, a resolution proposing that Streets Audit LLP be reappointed as auditor ofthe company will be put al a General Meeting.
GAIA HOUSE TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, annual report was approved and signed on behalf of the board of trustees by: T Blanch Trustea 13 July 2025
GAIA HOUSE TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Tha trustees, who ara also the directors of Gaia House Trust for th6 purposa of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with appli¢able18w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare flnanclal statements for each financlal year which give a true and f8ir view of the state of affairs of the charily and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements. Ihe trustees are required to: select suitable accounting policies and then apply them consistently. observe Ihe methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudenl., state whether applicable UK Accounting Slandards have been followed. subject to any material departures disclosed and explained in the financial statements., and prepare the finanGial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees ar8 responsible for keeping adequate 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 Companies Act 2006. They 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 tegulaTities. 10-
GAIA HOUSE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GAIA HOUSE TRUST Oplnlon We have audited the financial statements of Gaia House Trust (the 'charity'l for the year ended 31 Decembér 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash fiows and noles to th6 financial statements, Including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republlc of Ireland (Unlted Kingdom Generally Accepted Accounting Practice}. In our opinion, the financial statements: give a true and fair view of the state of the charitable companls affairs as at 31 December 2024 and of its incoming resources and application of resources, 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 Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UK) {ISAs (UK)) and applicable law. Our responsibililies under those standards are further described in Ihe Audilors responsibilities ftjr the audil 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 lo continue as a going concern for a period of at least twelve months from when the financial statements are 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 Informatlon The other information comprises the informalion included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomiation conlained within Ihe annual report. Our opinion on the financial statements does not cover the other infomiation and we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other informalion and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otheiSe appears to be materially misstated. If we identrfy such material inconsistencies or apparent material missiatements, we are required to determine whether this gives rise to a material misstatemenl in the financial slatements themselves. 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 faot. We have nothing to report in this regard. Matters on whlch we are required to report by ex¢eptlon We have nothing to report in respect of the following matters in relation to whlch the Charitles (Accounts and Reports) Regulations 2008 requires us to report to you if. in our opinion.. the information glven in the financial statements is inconsistent in any material respect with the trustees, report,. or sufficient accounting records have not begri kept., or the financial statements are not in agreement with the accounting records. or we have not recelved all the information and explanations we require for our audit. 11
GAIA HOUSE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GAIA HOUSE TRUST Responslbllities of truste68 As explained more fully in the statement of trustees, rasponslbllities, Ihe trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of Ihe financial slalements and for b81ng satisfied that they giv6 a Irue and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial slalements that are free from material misstatemenl, whether due to fraud or error. In preparing the financial stalements, the trustees are responsible for assessing the charity's ability to continue as a going concein, disclosing, as applicable, matters relaled lo going concern and using the going concern basis of accounting unless the trustees either Intend to liquidate the charitable company or to cease operations, or have no reallstic alternative but to do so. Audltorfs responsibilltles for the audit of thè flnanclal slaternents We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 Ihat an audit conducted in accordance with ISAS (UK) will always detect a material misststement 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 obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which it operates. We identify the areas of those legal and regulatory frameworks which could reasonably be expecled to have a material effect on the financial statements. based on our experience and through discussion with the director. We assessed compliance with these laws and regulations through enquiry with the director. and review of Ihe company's intemal reporting with respect to compliance with laws and regulations. We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur. In addressing the risk of fraud including in relation to revenue recognilion and management overyide of controls. we have performed journals testing based on a set of risk criteria and tested journals to supporting docum8ntation where applicable. Audit procedures also included detailed transactional tesling with a particular focus on the year-end cut off procedures. Because of the inherent limilalions of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation. A further descriplion of our responsibillties is available on the Financial Reporting Council's website at: https:11 www.frc.org.uklauditorsresponsibilit16s. This description forms part of our auditor's report. Use of our report This report is made solely to th6 charity's trustees, as a body, in accordance wlth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to thg charity's trustees Ihose matters we are required to state to them in an auditor's 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 the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. 12-
GAIA HOUSE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GAIA HOUSE TRUST Shane Cann FCCA CTA For and on behalf of Streets Audit LLP, Statutory Auditor Tower House Lucy Tower Street Lincoln Lincolnshira LN11XW 13 July 2025 streets Audit LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 13-
GAIA HOUSE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Total Unroslricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 272,840 1,023.106 13.748 55,085 327,925 1,511 1,024,617 13,748 223,715 882,762 8,589 34.546 2,497 258,261 885,259 8,589 Tolal Income 1,309,694 56.596 1,366,290 1,115,066 37.043 1.152.109 Expenditure on" Raising funds Charitable activities Other expenditure 228 1,060,961 228 11,636 1,072,597 240 912,505 779 240 986,391 779 73,886 13 Totsl expenditure 1.061.189 11.636 1,072,825 913.524 73,886 987.410 Nel gainsl(losses} on investments 14 4,950 4,950 6,876 6,876 Net income and movement in funds 253.455 44,960 298,415 208,418 (36,843) 171,575 Reconctliation of funds: Fund balances at 1 January 2024 1,390,201 35.440 1,425.641 1,181.783 72,283 1,254,066 Fund balances at 31 Decèmber 2024 1.643,656 80,400 1.724,056 1.390.201 35,440 1.425.641 The statement of financial activities indudes all galns and losses recognised In Ihe year. All income and expendilure derive from continuing activities. 14-
GAIA HOUSE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assels Intangible assets Tangible assets Investments 16 17 18 3,839 919,316 92,677 938,897 85,002 1.015,832 1,023,899 Current assets Debtors Cash at bank and in hand 19 43,209 965,149 35.663 658,097 1,008.358 693,760 Creditors: amount5 falling due within one year 20 (300.134) (292,018) Net current assets 708,224 401,742 Total assets less current liabilities 1,724,056 1,425,641 The funds of the charity Restricted income funds Unrestricted funds 22 23 80.400 1.643.656 35,440 1,390,201 1,724,056 1,425,641 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 December 2024. The directors acknowledge their responsibilities for complying with the requirements of th8 Companies Act 2006 with respect to accounting records and the preparalion of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepared In accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by tho trust885 on 13 July 2025 T Blanch Trustee Company registration number 02459323 (England and Wales) 15-
GAIA HOUSE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activltles Cash generated from operations 27 313,979 282,756 Investing activitlos Purchase of intangible assets Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment income received (3.839) (14,111) (2.725) (8.502) (4,1321 110.282 8,589 13,748 Net cash (used in)Igenerated from investing actlvlties {6.927) 106,237 Financing activities Repaymenl of borrowings 19,451) Net cash used in financing activities {9.451) Net increase in cash and cash equivalents 307.052 379,542 Cash and cash equivalents al beginning of year 658.097 278,555 Cash and cash equivalents at end of year 965,149 658.097 16-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policios Charity information Gaia House Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Gaia House, West Ogwell, Newion Abbot, Devon, TQ12 6EW. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and °Accounling and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandafd applicable in the UK and Republic of Ireland {FRS 102}. (as amended for accounting periods commencing from 1 January 2016). The charily is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial slatements are rounded lo Ihe nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern Al the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statefflents. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific condilions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of th& amounl. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies ar8 recognised on receipt or otherwise if thg charity has been notified of an ifflponding distribution, the amount is known, and receipt is expected. If Ihe amount is not known, the legacy is treated as a contingenl assel. 1.5 Expenditure Expenditure is r8cognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of finanGial activities to which it relates.. Expenditure on raising funds includes the costs of all fundraising activities, events, non-charilable trading aclivities and the sale of donaled goods. 17-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢le$ (Continued) Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including thos6 support costs and costs relating to th6 governance of th6 charity apportioned to the charitable activilies. Other expendlture Includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct cots attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 1.6 Research and development expenditure Research expenditure is written off againsl profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. 1.7 Intangible fixed assets other than goodwill Intangible assets acquired separalely from a business are recognised at cost and are subsequenuy measured at cost less accumulated amortisation and accumulaled impairment losses. Intangible assets acquired on business combinations are recognised separalely from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of ihe asset can be measured reliably; the intangible asset arises from conlfactual or other legal rights; and the intangible asset is separable from the entity. Amortlsation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases- Development costs 33.3 % straight line 1.8 Tangible fixed asset5 Tangible fixed assets are initially measured at cost and subsequently measured at G05t or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to writo off Ihe cost or valuatlon of assets less their residual values over their useful lives on the following bases: Freehold land and buildings Plant and equipment Motor vehicles 1 Q/0 Straight line 200/0 reducing balance 25 /(J slraight line The gain or loss arising on the disposal of an asset is determlned as the difference belween the sale proc06ds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.9 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 18-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollclos (Continued) 1.10 Impairment of fixed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication Ihal those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.11 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.12 Financial Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Inslrumenls Issues, of FRS 102 to all of its financial instruments. Financial instruments are CogniSed in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offsel, with the nel amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intenlion to sellle on a net basis or to realise the asset and settle Ihe liability simultaneously. Basic linancial assets Basic financial assets. which include debtors and cash and bank balances. are initially measured at Iransaction price including transaction costs and are subsequently carried at amortised cosl using the effeclive interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assels lassified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon of financial liabllltles Financial liabilities are derecognised when the charity's contractU81 obligations expire or are discharged or cancelled. 1.13 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the 8mployee's services are received. Termlnation benefits are recognlsed immediately as an expense when the charity is demonstrably committed to lerminate the employment of an employee or to provlde termination benefits. 19-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Contlnued) 1.14 Rètlrement benefits Payments to defined contrlbulion retirement benefit schemes are charged as an expense as they fall due. Crltlcal accounting estimates and Judgements In the application of the charity's accounting policies. Ihe trLSStees are required to make Judgements, estlmates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacies Unrestri¢ted Restricted funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Donations and gifts Grants 272.840 9,885 45.200 282,725 45,200 223,565 150 34,546 258,111 150 272,840 55,085 327,925 223,715 34,546 258.261 Income from charitable activities Unrestricted ReslTiCted funds funds 2024 2024 Total Unrestricted Restri¢ted funds funds 2023 2023 Total 2024 2023 Charitable actlvltles Retreat income - personal and online Retreat income - groups Book sales Administration fee income Miscellaneous income 342,148 672,602 342,148 672,602 295,679 579,449 150 5,929 1.555 295,679 579.449 150 5,929 4,052 6,627 1.729 6,627 3,240 1,511 2,497 1,023,106 1,511 1,024,617 882,762 2,497 885,259 -20-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2024 In¢ome from investments Unrastricted Unrèstricted funds funds 2024 2023 Income from listed investménts Interest receivable 2,725 11.023 4,132 4,457 13,748 8,589 Expenditure on raising funds Unrestricted Unrestrioted funds funds 2024 2023 Fundraising and publicity Other fundraising costs 228 240 21
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on charltablo actlvltles Charitable activities 2024 Charitable activities 2023 Direct costs staff costs Rales, water & insurance Food costs Kitchen costs Household costs 530.326 79,346 111,725 6.904 32,226 495,859 79,318 95,152 5,969 24,645 k li Garden costs General maintenance costs Direct and offsite retreat costs Teacher costs IT & office costs Travel and vehicle costs Publicity, newsletter and communications Book purchases other charitable expenditure 3,952 36.081 2.549 16,636 14,091 18.771 11.719 60 12,325 7,105 21,128 2,039 17.634 11,834 16,102 16,378 150 6,667 876,711 799.980 Grant funding of activities (see note 8) 105,941 98,202 Share of support and governance costs (see note 9) Support Govemance 80,223 9,722 79.453 8.756 1,072.597 986,391 Analysis by fund Unrestricted funds Restricted funds 1.060,961 11,636 912,505 73,886 1,072,597 986.391 Grants payable Charitable activities 2024 Charitable actlvltles 2023 Grants to individuals 105,941 98,202 -22-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated to activities 2024 2023 Depreciation Legal and professional fees Telephone Bank and credit card charges Governance costs 33,692 1,077 2,703 42.751 9,722 36,784 3,757 3,892 35,020 8,756 89,945 88,209 Analysed between: Charitable activities 89,945 88,209 10 Net movement in funds 2024 2023 The net rnovement in funds is stated after chargingl{crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets Loss on disposal of tangible fixed assets 8,160 33,692 8,160 36,784 779 11 Trustees None of the trustees (or any persons connecled wilh them} received any remuneration or benefits from the charity during the year. 12 Employees The average monlhly number of employees during the year was: 2024 Numbor 2023 Number Director Administrator Finan IT & Communication Building Slaff support teacher Retreat operations Coordinators Garden Total 27 27 23-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Employees (Continued) Employment costs 2024 2023 Wages and salaries Other pension costs 511,576 18,750 479,106 16,753 530,326 495,859 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel wa5 as follows.. 2024 2023 Aggregate compensation 112,497 134,094 13 Other expenditure Unrestricted Unrestricted funds funds 2024 2023 Net loss on disposal of tangible fixed assets 779 14 Gains and losses on investments Unr8stri¢ted Unrestricted funds funds 2024 2023 G8insl{losses) arlsing on.. Revaluation of inveslments 4.950 6,876 15 Taxatlon The charity Is exempt from tax on income and gains falling within secllon 505 of the Taxes Act 1988 or section 252 of Ihe Taxation of Chargeable Gains Act 1992 to Ihe exlent that these are applied to its charitable objects. -24-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Intanglblo fixed assets D6velopmènt osts Cost At 1 January 2024 Additions - separately acquired 3,839 At 31 December 2024 3.839 Amortisation and impairment Al 1 January 2024 and 31 December 2024 Carrying amount At 31 December 2024 3,839 At 31 December 2023 Intangible Fixed Assets comprise a website being built by an external supplier for the charity. Amortisation has nol been provided as the asset is incomplete at the reporting date. In future years, the charity will amortise the website over its useful life. 17 Tangible fixed assets Freehold land and buildings Plant and equipment Motor vehi¢le$ Total Cost At 1 January 2024 Additions 971,227 4,478 299,402 9,630 12.523 1,283,152 14,108 At 31 December 2024 975,705 309,032 12,523 1,297.260 Depreciation and Impairment Al 1 January 2024 Depreciation charggd in the year 116,247 15,463 217.259 17,602 10,746 627 344,252 33,692 At 31 December 2024 131,710 234,861 11.373 377,944 Carrying amount At 31 December 2024 843,995 74,171 1,150 919.316 At 31 December 2023 854,979 82.142 1,776 938,897 Freehold land and buildings are held at cost less accumulated depreciation, although the Trustees are of the opinion that Ihe markel value of freehold property is significantly in excess of the book value. The Trustees have opted not to revalue freehold land and buildings to avoid the necesslty and cost of then having to undertake valuallons on a regular basi5 by a professionally qualified valuer as required by th8 Charities SORP {FRS102>. -25-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Flxed asset investments Llsted invastments Cost or valuation At 1 January 2024 Additions Valuation changès 85,002 2,725 4.950 At 31 December 2024 92,677 Carrying amount Al 31 December 2024 92.677 At 31 Dember 2023 85,002 19 Debtors 2024 2023 Amounts falling due within one year: Trade debtors other debtors Prepayments and accrued income 4,037 20,745 18,427 16,801 18.862 43.209 35,663 20 Creditors: amounts falllng due wlthln one year 2024 2023 Other taxalion and social security Payments received on account Trade credilors Other creditors AccTuals and deferred income 8,644 155,320 42.570 74.226 19.374 7.639 194.542 40.588 25,209 24,040 300,134 292,018 21 Retlrement benefit schemes 2024 2023 Deflned contrlbulion schemes Charge to profit or loss in respect of defined contribution schemes 18.750 16,753 The charity operates 8 defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of Ihe charity in an independenlly administered fund. -26-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Restricled funds The reslricled funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how thoy may be us6d. At 1 January 2024 Incoming resources Resources expended At31 December 2024 Green environment devélopment Save water project Finance assistance and bursaries fund Family retreat fund eBike appeal 15.000 20,201 15,000 20,200 (1) {11,396) 11,396 45,200 45.200 239 {239) 35,440 56,596 (11,6361 80.400 Previous year: At 1 January 2023 Incoming resources Resources expended At31 December 2023 Green environment development Save water project Finance assistance and bursaries fund eBike appeal 15,000 670 21,373 15,000 20,201 19.531 52.476 276 (73,849) 137) 239 72,283 37.043 (73,886) 35,440 23 Unrestricled funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unreslricted funds by the trustees for specific purposes. At 1 January 2024 Incomlng resources Resources expondod Transfers Gains and losses At31 December 2024 General fund Building cyclical maintenance fund 1,345,602 1,309,694 (1.061,189) {12.463) 4.950 1,586,594 44,599 12,463 57,062 1,390.201 1,309,694 11,061,189) 4,950 1,643,656 -27-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Unrestrlcted funds {Contlnued) Prevlous year: At 1 January 2023 Incoming resources Resourcès expended Transfers Galns and losses At31 December 2023 General fund Building cyclical maintenan fund 1,157,184 1,115,066 (913,524) (20,000) 6,876 1,345.602 24,599 20,000 44,599 1,181,783 1,115,066 1913,524) 6,876 1.390,201 24 Analysis of net assels between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 December 2024: Intangible fixed assets Tangible assets Investments Current assetsl{liabilities} 3,839 919,316 92.677 627,824 3,839 919.316 92,677 708,224 80,400 1,643.656 80.400 1,724.056 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 December 2023: Tangible assets Investments Currenl asselsl{liabililies) 938,897 85,002 366,302 938,897 85,002 401.742 35,440 1,390.201 35.440 1,425,641 25 Flnanclal commltmentsi guarantees and conllngent Ilabllltles At 31 December 2024 there is a contingent liability in Ihe amount of £30,000. This amount represents a donation that was made under the lerms that it will become repayable should the property from which the charity operates ceases to be used for Ihe primary charitable purpose. The Trustees consider this lo be unlikely and, as such, do not feel that a provision is necessary. 28-
GAIA HOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 26 Related party transactlons There were no dlsclosable related paty transactions during the year olher than reimbursed travel expenses. {2023 - none). A total amount of £437 (2023: £4571 was reimbursed to two trustees for travel expenses for attendance at Trust66 Mèetings during the year. 27 Cash generated from operations 2024 2023 Surplus for the year 298,415 171,575 Adjustments for: Investment income recognised in statement of financial activities (Gain)Aoss on disposal of tangible fixed assets Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets (13,7481 18,589) 779 (6,8761 36,784 14,950) 33,692 Movements in working capital: (Increase) in debtors Increase in creditors {7,5461 8.116 11,809) 90,892 Cash generated from operations 313,979 282,756 28 Analysis of changes in net funds The charily had no material debt during the year. -29-