REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 5 |
Independent Examiner's Report | 6 |
Statement of Financial Activities | 7 |
Balance Sheet | 8 | to | 9 |
Notes to the Financial Statements | 10 | to | 17 |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
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 31st March 2024. 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). |
OBJECTIVES AND ACTIVITIES |
In carrying out the Charity's aims, Carisbrooke Priory ("the Priory") has paid due regard to the Charity Commission guidance on public benefit and ensures that its objectives are carried out in accordance with the guidance. |
The Charity's objectives are as set out in the Memorandum of Association and are as follows: |
1. To relieve and prevent sickness and distress by the provision of prayer, advice, listening, food and other services as part of the healing ministry of the Christian Church. |
2. To advance the Christian religion, in particular by, but not limited to, the holding of prayer meetings, lectures, public celebration of religious festivals and producing and/or distributing literature to enlighten others. |
People visit the Priory for various reasons, some seeking help, others simply to look around the Victorian house and gardens, and increasingly many to use the Tea Room. Special interest groups meet, while external organisations can hire rooms. For whatever reasons people visit the Priory, we endeavour to offer a warm welcome, hospitality and support. The Priory is linked with Acorn Christian Healing Foundation and Christian Healing U.K., and is a member of the Quiet Garden Movement. The Shop offers a range of books and other gifts, most of which have been donated. The special interest groups include Art and Poetry. Therapeutic volunteering has attracted people who are seeking to rebuild their lives after experiencing trauma or mental challenges. A service of Christian worship has traditionally been held weekly, with speakers drawn from the full extent of the Island's Christian community. |
Since March 2018, the Salvation Army has leased the first floor and, later in 2018, the second floor of the North Block to accommodate people on the journey out of homelessness. Residents are cared for by the Salvation Army, but are encouraged to engage with Priory activities. |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
As a recognised Safe Place, Carisbrooke Priory continues to achieve a very positive balance between attracting people to our thriving Tea Room and maintaining the much-valued sense of peace which comes, we believe, from an historic and continuing trust in God. From its beginnings in 1992, the current approach is particularly relevant to the mental health crisis that is being experienced across the Isle of Wight. We are actively developing stronger links with a recognised national Christian ministry that is promoting mental wellbeing, in partnership with like-minded churches and ministries on the Isle of Wight. |
Recorded Visitor numbers in 2023 set a new record of over 11,000, compared with just over 4,000 in 2014, the first full year of the Tea Room being open. |
The Salvation Army's homelessness provision has increased to a maximum of eighteen through the refurbishment of two further rooms. The completion of a new, all-encompassing lease (which includes an annual review of the fair rent that has been agreed) has been held up due to the need for repairs to the windows, but funding for the work is being sought. |
Wight Biodiversity, which has a lease on the refurbished Ground Floor Flat, is developing its offer and working with the Priory to celebrate the beautiful walled gardens. The range of meeting spaces attracts groups to use for awaydays, creative activities and the like (some run by the Priory), along with the Quiet Rooms that are particularly valued by individuals. There are frequent art (and craft) exhibitions in the Cloister and, where appropriate, larger rooms. |
Christian healing prayer ministry and listening have continued to figure on an occasional basis. Some of the volunteering is therapeutic, through self or agency referrals. Open Door Worship remains on a monthly basis, exploring healing themes. This is appreciated by those who attend and sits well with the wider work of connected Christian ministries across the Isle of Wight. Noon Prayers are held whenever possible on Tuesdays, Wednesdays and Fridays. Intercessory prayer is offered in person, over the telephone, by email exchange and through Prayer Cards. |
The beauty of the gardens and building, and the peace that visitors feel, continue to dominate comments in the Visitor Book, alongside significant appreciation of the quality and atmosphere of the Tea Room. "Talk and tour" occasions unfold the Priory's rich history and demonstrate the continuity represented by aspects of the current ministry. |
Discussions continue with like-minded Island ministries to identify areas of resource sharing, including bidding for grants. Windows are an immediate priority (see also above). The roof has suffered during increasingly frequent storms, hence another focus for estimates and grant bids will be phased re-roofing. There is also the prospect of refurbishing our second kitchen to provide a training facility for residents and visiting groups. |
Volunteers support a small team of part-time Staff to maintain the Priory's "Open Door" three days every week, as well as for monthly Open Door Worship and occasional events and church group hosting on Saturdays. All who thus serve are greatly appreciated, as are those who donate money and regularly pray for the work. The Trustees continue to be mindful of Health and Safety and Safeguarding requirements in respect of Staff, Volunteers, Visitors and Residents, and the Trust's policies are subject to regular review. |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
FINANCIAL REVIEW |
Financial position |
The attached financial statements show the state of the Company's finances as at 31st March 2024. |
The total incoming resources for the year amounted to £159,823 (2023 - £188,134), while total resources expended amounted to £163,905 (2023 - £137,913). This resulted in a net deficit of £4,082 (2023 surplus - £50,221). |
Total funds as at 31 March 2023 are £362,159 (2023 - £366,241). |
Principal funding sources |
The Charity's principal sources of funding were donations and legacies, trading income from the shop and sundry sales, and investment income in the form of rents received, as detailed in the Statement of Financial Activities. All income is utilised to finance the objects of the Charity, as set out in Objectives and Activities above. |
Reserves policy |
The charity does not have a formal reserves policy in place. The trustees meet on a regular basis to decide how surplus funds should be allocated for the benefit of the charity and the community as a whole. |
The free reserves of the charity, representing the unrestricted funds which are not included in fixed assets, amount to £59,058 (2023 - £63,750). The Trustees consider that these reserves are both adequate and necessary to continue the work of the Charity. |
Going concern |
After making appropriate enquiries, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The Charity is controlled by its Governing Document and constitutes a Limited Company, limited by guarantee, as defined by the Companies Act 2006. |
The Charity was established in April 1993 and soon afterwards purchased the freehold of the former St. Dominic's Priory, home to a Catholic community of Dominican nuns that was established in 1866 and vacated in 1989. |
In June 2008, the Carisbrooke Priory Trust Company Limited (Registered Office: 39 Whitcombe Road, Newport, Isle of Wight, PO30 1YS) was incorporated under the Companies Act 1985 as a Private Limited Company with seven Directors, all of whom were elected Trustees. The assets and liabilities of the Carisbrooke Priory Trust were transferred into this company. Each member of the Company agrees to contribute £10 in the event of the charity being wound-up. |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
During the financial year ended 31st March 2024, the Company continued to employ (part-time) an Administrator/Company Secretary, a House Manager and two Tea Room Assistants. There is an out-of-hours Caretaker, who lives under licence on the premises, rent free in return for fulfilling the caretaking role. The self-employed Finance Officer stepped down in the Autumn of 2022 and was replaced by a part-time appointment. |
The Priory opened to the public from 10:00 to 16:00 on Tuesdays, Wednesdays and Fridays. In addition, Open Door Worship took place at noon in the Chapel on the first Thursday of each month, exploring healing themes in line with the Charity's objectives. The only weekend opening to the public was to support Walk the Wight, an annual one day fundraiser for the local hospice. Three evening events that were open to the public were held: the annual Dominican mass, a concert and a carol service. |
A fifth Trustee was recruited to the Board at the beginning of the financial year. |
All of the Trustees express gratitude for the efforts and commitment from the Volunteers, without whom the Priory could not operate. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Elizabeth Dack FCA FCCA |
Harrison Black Limited |
East Quay |
Kite Hill |
Wootton Bridge |
Isle of Wight |
PO33 4LA |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
Independent examiner's report to the trustees of Carisbrooke Priory Trust Company Limited ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Elizabeth Dack FCA FCCA |
Harrison Black Limited |
East Quay |
Kite Hill |
Wootton Bridge |
Isle of Wight |
PO33 4LA |
18th September 2024 |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities | 3 |
Investment income | 4 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 366,241 |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 12 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 13 |
Unrestricted funds | 359,905 |
Restricted funds | 6,336 |
TOTAL FUNDS | 366,241 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
CARISBROOKE PRIORY TRUST COMPANY LIMITED (REGISTERED NUMBER: 06624300) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Carisbrooke Priory Trust Company Limited is a charitable company, limited by guarantee, registered in England and Wales. The company's registered number and registered office can be found on the Company information page. |
2. | 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. |
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. |
Legacy income is accounted for upon receipt. |
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. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Property Improvements | - |
Plant and machinery | - |
Fixtures and fittings | - |
Freehold land is not depreciated. |
Tangible fixed assets costing less than £1,000 are not capitalised. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Catering sales |
Shop income |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Rents received |
Bank interest | 1,243 | 237 |
5. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
6. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. |
7. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Charitable activities |
8. | 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 |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
8. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
RECONCILIATION OF FUNDS |
Total funds brought forward | 309,580 | 6,440 |
TOTAL FUNDS CARRIED FORWARD |
359,905 |
6,336 |
366,241 |
9. | TANGIBLE FIXED ASSETS |
Freehold | Freehold | Property |
property | Land | Improvements |
£ | £ | £ |
COST |
At 1st April 2023 |
Additions |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
9. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2023 |
Additions |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
10. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
13. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 359,905 | (3,998 | ) | 355,907 |
Restricted funds |
Flat Appeal | 6,336 | (84 | ) | 6,252 |
TOTAL FUNDS | (4,082 | ) | 362,159 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 159,823 | (163,821 | ) | (3,998 | ) |
Restricted funds |
Flat Appeal | - | (84 | ) | (84 | ) |
TOTAL FUNDS | ( |
) | (4,082 | ) |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 309,580 | 50,325 | 359,905 |
Restricted funds |
Flat Appeal | 6,440 | (104 | ) | 6,336 |
TOTAL FUNDS | 316,020 | 50,221 | 366,241 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 188,134 | (137,809 | ) | 50,325 |
Restricted funds |
Flat Appeal | - | (104 | ) | (104 | ) |
TOTAL FUNDS | 188,134 | (137,913 | ) | 50,221 |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.4.22 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 309,580 | 46,327 | 355,907 |
Restricted funds |
Flat Appeal | 6,440 | (188 | ) | 6,252 |
TOTAL FUNDS | 316,020 | 46,139 | 362,159 |
CARISBROOKE PRIORY TRUST COMPANY LIMITED |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
13. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 347,957 | (301,630 | ) | 46,327 |
Restricted funds |
Flat Appeal | - | (188 | ) | (188 | ) |
TOTAL FUNDS | 347,957 | (301,818 | ) | 46,139 |
14. | RELATED PARTY DISCLOSURES |
15. | PURPOSE OF RESTRICTED FUNDS |
Flat Appeal Fund |
This fund was created in 2011 and is specifically for the development of the ground floor flat which is currently uninhabitable. |