REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 SEPTEMBER 2023 |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 SEPTEMBER 2023 |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 September 2023 |
Page |
Reference and administrative details | 1 |
Report of the trustees | 2 | to | 7 |
Report of the independent auditors | 8 | to | 10 |
Statement of financial activities | 11 |
Balance sheet | 12 |
Cash flow statement | 13 |
Notes to the cash flow statement | 14 |
Notes to the financial statements | 15 | to | 25 |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
REFERENCE AND ADMINISTRATIVE DETAILS |
for the year ended 30 September 2023 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
AUDITORS |
Chartered Accountants |
and Statutory Auditors |
Lygon House |
50 London Road |
Bromley |
Kent |
BR1 3RA |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
REPORT OF THE TRUSTEES |
for the year ended 30 September 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of 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 2019). |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
REPORT OF THE TRUSTEES |
for the year ended 30 September 2023 |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
On 1 October 2003, the charity took over the assets and operations of The Harry Edwards Spiritual Healing Trust (the Trust) under authority from the Charity Commission. As such, it now holds the property that was held by the earlier Trustees and continues the work of the Trust. A notification of the formal merger of the Harry Edwards Spiritual Healing Sanctuary Trust and the Harry Edwards Healing Sanctuary Limited was submitted to the Charity Commission during a previous period. |
The objects of the charity are to promote public health by the provision and promotion of spiritual healing for the benefit of the public by educating and training spiritual healers and by ensuring proper standards in the practice of spiritual healing. |
The strategies employed to achieve the charity's objectives are to: |
- | Increase awareness of, and opportunities for, a broad range of people to understand and experience spiritual healing and explore their own spiritual healing and self-healing abilities; |
- | Maintain facilities at which our registered spiritual healers can offer both distant and contact spiritual healing services; |
- | Maintain the availability of spiritual healing services at the charity's facilities by retaining the involvement of sufficient volunteer healers who are registered with UK Healers; |
- | Encourage the use of the charity's facilities by others sharing the same objectives as the charity; |
- | Sponsor research into spiritual healing; |
- | Provide a programme for educating and training spiritual healers, including healing related talks, workshops and retreats; |
- | Finance support of the charity's facilities and services through donations, legacies, fund raising, investment and rental income, and judicially conducted commercial activity through a wholly owned trading subsidiary company. |
The charity supports, and is a founder member of, UK Healers, the professional association established to agree standards for spiritual healing and spiritual healers in this country. In company with other spiritual healing organisations that are members of UK Healers, we comply with the Standards and the Code of Conduct established by that body. We restrict our recruitment of healers to join our register and work at our premises to those who have successfully completed our own training programme and those healers who have met the standards of UK Healers with other UK Healer member organisations. The charity has established the Harry Edwards Healing College within the charity to further develop the training provided. The College offers training at various levels including an introductory course; a two year healer qualification course (The Harry Edwards Healing Course); and post qualification CPD workshops. |
The charity's magazine (The Healer), which was introduced by Harry Edwards and has been continuously issued ever since, we ensure its essential messages, including those contained in articles written by the charity's founder, are preserved. |
Through the charity's 'Healing Minute' programme initiated by our founder, Harry Edwards, people of goodwill are encouraged to link together at 10am and/or 10pm in prayer and thought for healing to reach all those who are sick wherever they may be, and also for world peace and understanding. This facility has been extended by broadcasting the morning event live on social media 5 days per week. |
A major part of our work is in dealing with requests by letter, e-mail and telephone for distant healing. Applications for contact healing at our premises vary from week to week and are met by a growing band of volunteer healers. Our contact healing services are available 7 days a week. We are actively seeking ways of expanding this service. Both distant healing and contact healing are provided to the public on a donation only basis. |
During 2008 the charity established Bluebells Cancer Help Centre at Burrows Lea with help and input from Macmillan Cancer Support. This provides a dedicated space where patients can come for healing and to enjoy the peace the premises offer as well as to obtain easy access to the wide range of information available on the internet, and to our library of books (which may be borrowed) potentially helpful to those living with cancer and their carers. The volunteers who lead the Centre's activities introduced, during the previous period, a series of talks under a Wellness heading to benefit those who use the Centre. |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
REPORT OF THE TRUSTEES |
for the year ended 30 September 2023 |
OBJECTIVES AND ACTIVITIES |
Public benefit |
The charity benefits the public by providing information about spiritual healing and wellness, via our donation only magazine (The Healer) issued quarterly, and through leaflets, the charity's website, and Social Media posts (Facebook, Instagram, YouTube and X). |
The charity offers at Burrows Lea a daily contact healing service in private Healing Rooms. This service is also donation only. |
We also provide short contact healing sessions without charge at the charity's Open Days and similar events. Our Distant Healing service continues to be on a 'donation only' basis. We also from time to time provide contact healing at suitable venues and events away for the Sanctuary, and the charity is ready to provide financial and healer support for research into the efficacy of spiritual healing & healing. The charity's premises are open to the public without any charge 365 days per year so that the public may enjoy the peaceful atmosphere of our house and grounds, and the chance for contemplation and relaxation in surroundings that our many visitors find help to bring them peace of mind. The charity corresponds daily with those who seek distant healing and also receives visitors for contact healing daily. |
STRATEGIC REPORT |
Achievement and performance |
Charitable activities |
The charity provides distant healing to a substantial number of people from around the world each year, irrespective of their ability to contribute towards the charity's overheads. The charity has many Clients who continue to ask for healing help for themselves and/or others and who send whatever they can afford to support the charity's work. The charity has received and responded to 10,695 requests for healing during the period. The requests received each day are read by qualified spiritual healers. The names of all people for whom distant healing has been sought during the previous twenty four hours are placed each morning in the Distant Healing book located in the Sanctuary at Burrows Lea. They remain there for at least a month to benefit from prayerful thoughts offered every morning by the charity's healers during a regular period of contemplation in the Sanctuary. |
The charity's annual Fairs continue to attract new and returning visitors. The weekly program on various social media platforms including Zoom and Facebook continues to be developed. These Platforms continue to be very successful with substantial numbers taking advantage of the opportunity to participate and experience healing activities remotely. |
As with our Fairs and Open Days, our normal programme of activities is being reviewed and increased through modalities that incorporate wellness and wellbeing. |
The Charity's wholly owned trading company began operations on 1 October 2005 with the intention of providing a stream of future income in support of the charity. Initially, the company absorbed substantial setting up costs which were met with the help of a secured loan facility. After many years trading, the subsidiary company was able to remove its call on that secured loan facility, which was a welcome development for the charity. |
The trading company's Memorandum and Articles of Association provide the necessary safeguards about distribution of its profits, and control of its Board of Directors is vested in the charity. |
The number of staff employed are adjusted from time to time to meet the needs of the charity. |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
REPORT OF THE TRUSTEES |
for the year ended 30 September 2023 |
STRATEGIC REPORT |
Financial review |
Investment policy and objectives |
In accordance with the Memorandum and Articles of Association, the charity has the power to invest charity funds not immediately required for the furtherance of its objects in or upon such investments, securities or property as may be thought fit. The trustees employ Investec Wealth and Investment Limited to manage the charity's investments. |
The policy of the trustees continues to be medium risk balance between capital and income growth in a portfolio of investments and cash to support operating costs. This is achieved by investing prudently and cautiously in a broad range of fixed interest securities and equities with no investment in derivatives, no single investment in fixed interest securities exceeding 10% of the total fund, and no single investment in equities exceeding 5% of the total fund. |
The value of Harry Edwards Healing Sanctuary's investments reflected the uncertainty of stock markets during the period. At the year end the charity's portfolio was valued at £2,204,962 compared with £2,389,711 at 30 September 2022. The decrease in market value was £14,181 compared with the decrease in market value of £260,903 at 30 September 2022. Our investment managers continue to monitor progress of the charity's portfolio against the WM Charity Fund Monitor and throughout the year achieved results broadly in line with the benchmark. |
Reserves policy |
The level of reserves that the charity ought to have is reviewed periodically by trustees, to ensure that it still reflects current charity developments. |
Review |
The charity depends primarily on volatile sources of income, such as donations and legacies. The charity's total incoming resources on unrestricted funds, which are its operational reserves were £385,231 (2022:£353,537) including unrestricted investment income of £59,147 (2022: £60,188). Restricted voluntary income of £10,770 (2022:£5,502) was also received, so that total incoming resources for the year were £396,001 (2022:£359,039). |
However, during the year unrestricted funds resources expended amounted to £723,355 (2022:£712,781) of which £126,440 (2022:£125,843) was the cost of generating voluntary income. £550,259 (2022:£537,201) was charitable expenditure relating to contact and distant healing work and education activities, and £46,656 (2022:£49,737) was governance costs. Charitable expenditure of £10,231 (2022:£8,483) was expended on restricted fund. Total resources expended was £733,586 (2022:£721,264). |
The resulting outflow of resources £337,585 (2022:£362,225) was offset by realised gain/(loss)on the sales of investment assets of £62,553 (2022: £17,742 loss) and net unrealised gain/(loss) on investment assets of £685,819 (2022: £260,903 loss) which included revaluation gain of the property of £700,000 during the year. |
There is a continuing need to increase voluntary income and to maintain rental income from three residential properties owned by the charity at Burrows Lea. Ongoing maintenance & repairs to property stock were undertaken during the period. |
Future developments |
The major financial concern for the charity continues to be the volatility of its voluntary income. The dividends and interest received from its investment portfolio are insufficient to cover overheads. Legacy income has made a significant contribution in some years but cannot be relied upon. The charity continues to take steps to encourage more of our supporters to provide for the charity in their wills. Meanwhile donations each year remain a vital source of income for the charity. |
The trustees want to expand the availability of the charity's contact and distant healing services and have successfully exploited the use of social media to keep the public informed and to answer questions that may be asked. As described earlier, the trustees also aim to maintain rental income and to increase the use of the charity's facilities to generate more funds to support charitable objectives. |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
REPORT OF THE TRUSTEES |
for the year ended 30 September 2023 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Harry Edwards Healing Sanctuary Limited (the charity) is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 11 April 2003. It is registered as a charity with the Charity Commission. The original subscribers to the Memorandum of Association and such other persons as the Board of Directors (the trustees) shall admit to membership shall be members of the charity. Currently, trustees in office are members, each of whom agrees to contribute £1 in the event of the company winding up. |
Recruitment and appointment of new trustees |
All the directors of the company are also trustees of the charity. As set out in the Articles of Association, the charity by resolution of its members has the power to appoint or remove any trustee and to fix a maximum and minimum number of trustees. At present, no maximum has been set, but the minimum is three. The trustees also have the power at any time to appoint any person to be a trustee, but any trustee so appointed is subject to re-election by the members at the next Annual General Meeting. Furthermore, one third of the trustees (usually the longest in office) are subject to re-election by the members at the Annual General Meeting. |
During 2022/2023. 3 new Trustees were appointed and 5 stood down. We currently have 3 trustees who have served for less than 5 years, 1 who has served for 6 years and 1 who has served for 3 years. |
Organisational structure |
The trustees, who administer the charity, meet as a body at least six times a year and more frequently as circumstances dictate. |
During the year, a paid Operations Director managed the day-to-day activities of the charity including responsibility for the Operations staff. The charities externally focussed interests were managed by a paid Director of Business Development. |
Induction and training of new trustees |
New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision-making process and recent financial performance of the charity. During their induction, they meet other trustees and key employees. They are expected to attend appropriate external training events where these will facilitate the undertaking of their role. |
Related parties |
The charity's wholly owned subsidiary, Burrows Lea Country House Limited, was established as a fund-raising vehicle on 1 October 2005 to operate functions including catering, conferencing, and retreat facilities, and the sales of books and other articles, at Burrows Lea. It uses staff employed by the charity as necessary. Any distributable profits are donated to the charity. |
Risk management |
The trustees have assessed and put in place appropriate policies to address the major risks to which the charity is exposed, those related to its operations, finances, and its use of Information and Communications Technology (ICT), and Health & Safety legislation. These include damage to or destruction of the building or systems at Burrows Lea through natural or man-made causes, and any incident that might result in death or injury to a member of the public, the Charity's employees and volunteers. Adequate insurance, back-up duplication, and systems to mitigate exposure to such major risks are in place and reviewed regularly. The Charity has increased its Cyber Security Levels and Insurance cover in this aspect. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Harry Edwards Healing Sanctuary Limited for the purposes of company law) are responsible for preparing the Report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
REPORT OF THE TRUSTEES |
for the year ended 30 September 2023 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Berringers LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Report of the trustees, incorporating a Strategic report, approved by order of the board of trustees, as the company directors, on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
Opinion |
We have audited the financial statements of Harry Edwards Healing Sanctuary Limited (the 'charitable company') for the year ended 30 September 2023 which comprise the Statement of financial activities, the Balance sheet, the Cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the charitable company's affairs as at 30 September 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company's ability to 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 information |
The trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial statements and our Report of the independent auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements 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 fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the trustees has been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of trustees |
As explained more fully in the Statement of trustees' responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. |
Our responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and error, we |
considered the following: |
- the nature of the industry, control environment and business performance; |
- results of our enquiries to management about their own assessment of the risks of fraud and error; |
- the matters discussed among the audit engagement team regarding how and where fraud may occur in the financial statements and any potential indicators of fraud. |
Our procedures to respond to risk include the following: |
- reviewing the financial statement disclosures and testing to supporting documentation; |
- performing analytical procedures to identify any unusual or unexpected areas that may indicate risks of material |
misstatement due to fraud or error; |
- addressing the risk of fraud and error through management override of controls, testing the appropriateness of journals, assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
and Statutory Auditors |
50 London Road |
Bromley |
Kent |
BR1 3RA |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
for the year ended 30 September 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Raising funds | 5 | 126,440 | - | 126,440 | 125,843 |
Charitable activities | 6 |
Governance costs | 46,656 | - | 46,656 | 49,737 |
Charitable expenditure | 550,259 | 10,231 | 560,490 | 545,684 |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Other recognised gains/(losses) |
Gains/(losses) on revaluation of fixed assets | ( |
) |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 6,967,800 |
HARRY EDWARDS HEALING SANCTUARY LIMITED (REGISTERED NUMBER: 04731491) |
BALANCE SHEET |
30 September 2023 |
2023 | 2022 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 |
Investments | 13 |
CURRENT ASSETS |
Stocks | 14 |
Debtors | 15 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 16 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 17 |
Unrestricted funds | 6,951,356 |
Restricted funds | 16,444 |
TOTAL FUNDS | 6,967,800 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
CASH FLOW STATEMENT |
for the year ended 30 September 2023 |
2023 | 2022 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (263,746 | ) | (336,213 | ) |
Net cash used in operating activities | (263,746 | ) | (336,213 | ) |
Cash flows from investing activities |
Purchase of tangible fixed assets | (9,357 | ) | (3,030 | ) |
Purchase of fixed asset investments | (1,316,521 | ) | (364,914 | ) |
Sale of tangible fixed assets | - | 450 |
Sale of fixed asset investments | 1,549,642 | 728,820 |
Interest received | 2 | - |
Net cash provided by investing activities | 223,766 | 361,326 |
Change in cash and cash equivalents in the reporting period |
(39,980 |
) |
25,113 |
Cash and cash equivalents at the beginning of the reporting period |
76,588 |
51,475 |
Cash and cash equivalents at the end of the reporting period |
36,608 |
76,588 |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE CASH FLOW STATEMENT |
for the year ended 30 September 2023 |
1. | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2023 | 2022 |
£ | £ |
Net expenditure for the reporting period (as per the Statement of financial activities) |
(275,032 |
) |
(379,967 |
) |
Adjustments for: |
Depreciation charges | 10,488 | 9,592 |
(Gain)/losses on investments | (62,553 | ) | 17,742 |
Profit on disposal of fixed assets | - | (450 | ) |
Interest received | (2 | ) | - |
Decrease in stocks | 1,472 | 4,681 |
Decrease in debtors | 53,715 | 4,210 |
Increase in creditors | 8,166 | 7,979 |
Net cash used in operations | (263,746 | ) | (336,213 | ) |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.10.22 | Cash flow | At 30.9.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 76,588 | (39,980 | ) | 36,608 |
76,588 | (39,980 | ) | 36,608 |
Total | 76,588 | (39,980 | ) | 36,608 |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 September 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
Preparation of consolidated financial statements |
The financial statements contain information about Harry Edwards Healing Sanctuary Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Allocation and apportionment of costs |
Various support costs were apportioned and allocated to Raising funds on the ratio based on 1 divided by the number of full time staff employed. |
Wages were apportioned and allocated to Raising funds on the ratio based on 1 divided by the number of full time staff employed. |
Wages were apportioned and allocated to Support costs on 10% of the administration staff costs. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Investments |
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes net gains and losses arising on revaluations and disposals throughout the year. Net gains and losses on investments is calculated on sale price less market value at the start of the year. |
2. | DONATIONS AND LEGACIES |
2023 | 2022 |
£ | £ |
Gift Aid |
Donations |
Legacies received (gross) |
3. | OTHER TRADING ACTIVITIES |
2023 | 2022 |
£ | £ |
Income from courses |
Raffle |
Other income | 21,865 | 6,891 |
Appointments | 18,845 | 15,559 |
4. | INVESTMENT INCOME |
2023 | 2022 |
£ | £ |
Investment income (gross) and interest on deposits | 59,145 | 60,188 |
Deposit account interest |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
5. | RAISING FUNDS |
2023 | 2022 |
£ | £ |
Staff costs |
Magazine costs |
Advertising & publicity |
Friends expenses | 11,413 | 7,870 |
Course costs | 23,807 | 25,464 |
Other expenditure | 10,907 | 12,155 |
Rent agent fees | 9,548 | 8,203 |
Investor broker fees | 15,589 | 18,386 |
Depreciation |
Support costs |
126,440 | 125,843 |
6. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 7) | Totals |
£ | £ | £ |
Governance costs | - | 46,656 | 46,656 |
Charitable expenditure | 379,114 | 181,376 | 560,490 |
379,114 | 228,032 | 607,146 |
7. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Raising donations and legacies | 10,351 | 1,479 | 11,830 |
Governance costs | - | 46,656 | 46,656 |
Charitable expenditure | 175,976 | 5,400 | 181,376 |
186,327 | 53,535 | 239,862 |
Various support costs were apportioned and allocated to Raising funds on the ratio based on 1 divided by the number of full time staff employed. |
Wages were apportioned and allocated to Support costs on 10% of the administration staff costs. |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
7. | SUPPORT COSTS - continued |
Support costs, included in the above, are as follows: |
2023 | 2022 |
Raising |
donations |
and | Governance | Charitable | Total | Total |
legacies | costs | expenditure | activities | activities |
£ | £ | £ | £ | £ |
Rates and water | 534 | - | 9,077 | 9,611 | 6,102 |
Insurance | 582 | - | 9,892 | 10,474 | 9,549 |
Light & heat | 2,104 | - | 35,767 | 37,871 | 38,003 |
Telephone | 1,015 | - | 17,263 | 18,278 | 16,399 |
Printing, stationery & postage |
598 |
- |
10,157 |
10,755 |
9,829 |
Computer costs | 1,452 | - | 24,685 | 26,137 | 34,610 |
Repairs & Renewals | 3,316 | - | 56,376 | 59,692 | 32,948 |
Garden expenses | 331 | - | 5,627 | 5,958 | 5,676 |
Motor & travelling | 41 | - | 704 | 745 | 219 |
Bank charges | 144 | - | 2,447 | 2,591 | 2,641 |
Training | 234 | - | 3,981 | 4,215 | 5,806 |
Trustees' remuneration etc | - | - | 5,400 | 5,400 | 2,553 |
Wages | - | 10,982 | - | 10,982 | 11,695 |
Auditors' remuneration | - | 10,540 | - | 10,540 | 11,900 |
Professional fees | 1,479 | 25,134 | - | 26,613 | 27,776 |
11,830 | 46,656 | 181,376 | 239,862 | 215,706 |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2023 | 2022 |
£ | £ |
Auditors' remuneration | 10,540 | 11,900 |
Depreciation - owned assets |
Surplus on disposal of fixed assets | ( |
) |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022. |
Trustees' expenses |
2023 | 2022 |
£ | £ |
Trustees' expenses |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
10. | STAFF COSTS |
2023 | 2022 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
396,807 | 413,819 |
The average monthly number of employees during the year was as follows: |
2023 | 2022 |
Cost of generating voluntary income | 2 | 2 |
Charitable expenditure | 16 | 17 |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Raising funds | 125,843 | - | 125,843 |
125,843 | - |
Charitable activities |
Governance costs | 49,737 | - | 49,737 |
Charitable expenditure | 537,201 | 8,483 | 545,684 |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | (3,275 | ) | 3,275 | - |
Other recognised gains/(losses) |
Gains/(losses) on revaluation of fixed assets | ( |
) | ( |
) |
Net movement in funds | ( |
) | ( |
) |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 7,592,520 | 16,150 |
TOTAL FUNDS CARRIED FORWARD | 6,951,356 | 16,444 | 6,967,800 |
12. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 October 2022 |
Additions |
Revaluations |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Cost or valuation at 30 September 2023 is represented by: |
Fixtures |
Freehold | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2017 | 696,513 | - | - | - | 696,513 |
Valuation in 2018 | (50,000 | ) | - | - | - | (50,000 | ) |
Valuation in 2023 | 700,000 | - | - | - | 700,000 |
Cost | 3,803,487 | 165,570 | 119,486 | 91,166 | 4,179,709 |
5,150,000 | 165,570 | 119,486 | 91,166 | 5,526,222 |
The Freehold Land and Buildings were valued on 9 August 2023 at £5,150,000 on the basis of Existing Use Value by Coverwood Chartered Surveyors, and are disclosed at that value. |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
13. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
MARKET VALUE |
At 1 October 2022 | 2,389,711 |
Additions | 1,316,521 |
Disposals | ( |
) | (1,487,089 | ) |
Revaluations | ( |
) | (14,181 | ) |
At 30 September 2023 | 2,204,962 |
NET BOOK VALUE |
At 30 September 2023 | 2,204,960 | 2 | 2,204,962 |
At 30 September 2022 | 2,389,709 | 2 | 2,389,711 |
There were no investment assets outside the UK. |
2023 | 2022 |
£ | £ |
Cost value at 1 October 2022 | 1,973,519 | 2,138,723 |
Additions | 1,316,521 | 364,914 |
Disposals | (1,254,309 | ) | (530,118 | ) |
Historical cost at 30 September 2023 | 2,035,731 | 1,973,519 |
Unlisted investments |
Burrows Lea Country House Ltd |
Class of shares: Ordinary | % holding: 100 |
2023 | 2022 |
£ | £ |
Aggregate capital and reserves | (31,305 | ) | (29,450 | ) |
(Loss)/profit for the year | (1,855 | ) | 4,124 |
14. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Accrued income |
Prepayments |
Stock brokers account | 2,876 | 84,798 |
16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Credit Card | 441 | 653 |
Accrued expenses |
Deferred income | 36,560 | 36,971 |
17. | MOVEMENT IN FUNDS |
Net | Transfers |
At | movement | between | At |
1.10.22 | in funds | funds | 30.9.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 89,676 | (288,621 | ) | 350,000 | 151,055 |
Projects fund | 1,000,000 | - | - | 1,000,000 |
Fixed asset fund | 4,461,680 | 698,869 | - | 5,160,549 |
Overheads reserve | 1,400,000 | - | (350,000 | ) | 1,050,000 |
410,248 |
Restricted funds |
Staff fund | 84 | - | - | 84 |
Special Aids donations | 7 | - | - | 7 |
Memorial garden | 11,653 | (680 | ) | - | 10,973 |
Bluebell room | 4,700 | (4,540 | ) | - | 160 |
Sunflower Trust | - | 4,759 | - | 4,759 |
Scholarship trust fund | - | 1,000 | - | 1,000 |
539 |
TOTAL FUNDS | 410,787 | 7,378,587 |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
17. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 385,231 | (722,224 | ) | 48,372 | (288,621 | ) |
Fixed asset fund | - | (1,131 | ) | 700,000 | 698,869 |
( |
) | 410,248 |
Restricted funds |
Memorial garden | 520 | (1,200 | ) | - | (680 | ) |
Bluebell room | - | (4,540 | ) | - | (4,540 | ) |
Sunflower Trust | 9,250 | (4,491 | ) | - | 4,759 |
Scholarship trust fund | 1,000 | - | - | 1,000 |
( |
) | 539 |
TOTAL FUNDS | ( |
) | 410,787 |
Comparatives for movement in funds |
Net | Transfers |
At | movement | between | At |
1.10.21 | in funds | funds | 30.9.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 724,278 | (631,327 | ) | (3,275 | ) | 89,676 |
Projects fund | 1,000,000 | - | - | 1,000,000 |
Fixed asset fund | 4,468,242 | (6,562 | ) | - | 4,461,680 |
Overheads reserve | 1,400,000 | - | - | 1,400,000 |
7,592,520 | (637,889 | ) | (3,275 | ) | 6,951,356 |
Restricted funds |
Staff fund | 84 | - | - | 84 |
Special Aids donations | 7 | - | - | 7 |
Memorial garden | 10,643 | 1,010 | - | 11,653 |
Bluebell room | 5,416 | (716 | ) | - | 4,700 |
Sunflower Trust | - | (2,765 | ) | 2,765 | - |
Rose Garden Pond | - | (510 | ) | 510 | - |
16,150 | (2,981 | ) | 3,275 | 16,444 |
TOTAL FUNDS | 7,608,670 | (640,870 | ) | - | 6,967,800 |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
17. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 353,536 | (706,218 | ) | (278,645 | ) | (631,327 | ) |
Fixed asset fund | 1 | (6,563 | ) | - | (6,562 | ) |
353,537 | (712,781 | ) | (278,645 | ) | (637,889 | ) |
Restricted funds |
Memorial garden | 2,450 | (1,440 | ) | - | 1,010 |
Bluebell room | 7 | (723 | ) | - | (716 | ) |
Sunflower Trust | 2,935 | (5,700 | ) | - | (2,765 | ) |
Rose Garden Pond | 110 | (620 | ) | - | (510 | ) |
5,502 | (8,483 | ) | - | (2,981 | ) |
TOTAL FUNDS | 359,039 | (721,264 | ) | (278,645 | ) | (640,870 | ) |
Projects fund: | The trustees have set aside this reserve for projects. |
Fixed assets fund: | This amount represents the net book value of the tangible fixed assets of the company. The trustees believe that this enables users of these accounts to more readily identify the funds that are available for the day to day running of the charity. |
Overheads reserve: | The trustees have set aside this reserve as a prudent measure against future overheads. It equates to approximately 1.5 years of overheads. |
Sunflower trust | This fund was set up to support Healers working in NHS hospitals. |
Staff fund | This fund is to record donations made to support and thank the staff. |
Special Aids donations |
This fund was set up to buy specific items to aid the less mobile visitors and to aid their access. |
Memorial garden | Donation are received to maintain the memorial garden. |
Bluebell room | This fund was set up for people to donate to maintain the special atmosphere and equipment in the Bluebell room. |
Rose garden | The fund was set up to help support the renovation of The Sanctuary Pond. |
HARRY EDWARDS HEALING SANCTUARY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2023 |
18. | RELATED PARTY DISCLOSURES |
During the year wages of £Nil (2022: £14,290) was cross charged to Burrows Lea Country House Limited. Last year wages was cross charged by apportioning 20% and 10% of Events and Marketing cost centres salaries respectively. Approximately 2% were also apportioned from various salary cost centres such as Finance, Development & Growth, Human Resources & Admin etc. Various share costs such as Rates, Water rates cross charged at 10%, Light and Heat 20%,Telephone at 12% and Insurance at 15% of the total cost during the year. At the year end Harry Edwards Healing Sanctuary was owed £34,735 from Burrows Lea Country House Limited, a wholly owned subsidiary (2022 - £12,431). |
Burrows Lea Country House Limited made no donations to Harry Edwards Healing Sanctuary this year (2022: £Nil) due to not having taxable income. |