Registered number:
Charity number:
(A company limited by guarantee)
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
CONTENTS
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the audited financial statements of the The Gurdjieff Society for the 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The Society is constituted as a charitable company limited by guarantee, incorporated on 6th October 1955 and registered as a charity on 28 December 1967. The charitable company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
c. Activities undertaken to achieve objectives
Under the Articles of Association, the Board of Directors is known as the Council of the Society. The members are also Trustees for the purposes of the Charities Act 1993. When reviewing the Society's aims and objectives in planning future activities, the Council have considered the Charity Commission's general guidance on public benefit.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
Objectives and activities (continued)
d. Main activities undertaken to further the Company's purposes for the public benefit
Since 1955, the activities of the Society have been conducted mainly at its two properties in London, and also at its property in Berkshire. The activities include meetings in small groups to exchange views and study specific material, the practice of dances known as the “movements”, musical activities and various crafts, and work on translations and literature associated with the ideas of G. I. Gurdjieff.
At our Berkshire facility we aim to provide an education in practical work and crafts, which have included glass working, mosaics, painting, sewing, upholstery, carpentry, horticulture, building restoration methods, the study of sound and the making of simple musical instruments, with the emphasis on working with a sustained effort of attention, along the lines of the ideas of G. I. Gurdjieff. The Society maintains a website, www.gurdjieff.com, which provides a contact point for enquiries from members of the public. Although some responses are limited to a passing curiosity, those who express a genuine interest are given advice on any questions raised and on suitable preparatory reading about G. I. Gurdjieff's teachings. When an enquirer demonstrates a sincere interest in engaging in the Society's activities, then the Council will offer an opportunity to meet and discuss matters in person. Although mainly based in London, the Society also conducts activities in several regional locations within the United Kingdom, and in the Republic of Ireland. Consequently, potential participants are not generally precluded from joining because of their location. Enquiries from those who live outside the UK are referred to the appropriate Gurdjieff foundation abroad. The Society maintains contacts with numerous such foundations overseas. Members and participants of the Society also hold public meetings at various locations throughout the United Kingdom, where an introduction to the ideas of G. I. Gurdjieff is given and public interest is invited. The Society presents regular cultural events (e.g. lectures, musical performances, storytelling and poetry), open to the public for a nominal entrance fee, at one of its London properties. A website, www.clarendonevents.org.uk, is maintained to advertise these events. The Society also maintains the website www.in-between.org.uk, which presents material on a wide range of cultural topics, including subjects directly related to the teaching of G. I. Gurdjieff. Visitors to the website are invited to contribute material for review and possible publication on the site. The Society does not discriminate against potential participants on grounds of age, race, sex or religion. The Council has updated the Society's policy on Safeguarding to meet requirements of current Charity Commission guidance. A senior trustee has been appointed to take charge of this matter and a team of Society members stands ready to respond to any Safeguarding issues which might arise. Appropriate Safeguarding policy documents have been created, announced and made available to all participants in the Society's activities. The Council is fully committed to keeping the subject of Safeguarding under regular review and to maintaining future compliance with any further developments in Charity Commission guidance. Those people who are actively involved in the aims of the society are generally asked to contribute towards the running costs of the Society, but it has always been, and remains, the Council's firm policy that nobody shall be excluded from activities because of lack of financial means. Existing contributors who experience temporary financial difficulties are invited to resume contributing when they are able to do so. It has been established from the outset that all members of the Council give of their time freely and no remuneration was paid to any member of the Council in the year. Expenses paid to Council members (e.g. for travel abroad in furtherance of the Society's aims) are properly recorded in the accounts. Any private benefit which may accrue to members or participants in the Society's activities is purely incidental. The Council members have paid due regard to the guidance issued by the Charity Commission in deciding what activities the Society should undertake.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
Achievements and performance
a. Key performance indicators
The statement of financial activities shows a net increase of funds of £118,618 (2023: increase of £45,663) before other recognised gains of £NIL (2023: £200,000). Reserves stand in total at £9,385,453 (2023: £9,266,835) of which, £576,586 (2023: £457,968) are free reserves.
b. Review of activities
The Society maintained the activities in pursuance of its objectives at its three properties. As in previous years, it has continued to attract new participants from the public to compensate for the loss of some existing participants. Financial contributions from participants were sufficient to fund the Society’s running costs and to maintain its properties in good condition.
The Council continued to foster relationships with Gurdjieff foundations in other countries and to this end five of the trustees took part in a conference of the IAGF which was held in New York in May 2023. The Society’s customary presentations at the Clarendon Events venue continued. Four events were offered, which featured two film showings, one musical concert and one classical narrative with storytelling. The Society continued to invite and receive enquiries from the public via its main website, www.gurdjieff.com, and the appropriate responses made, to provide further information about Gurdjieff's teaching and the Society's activities A range of new material was added to the website https://www.in-between .org.uk/.
c. Investment policy and performance
The charitable company holds an investment property from which it derives rental income and which is managed by external agents to achieve market returns.
The freehold property is valued at estimated market value and was revalued in the prior year.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the 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.
b. Reserves policy
At this level the Council feel that they would be able to continue the current activities of the society in the event of a significant drop in funding. The reserves have maintained the required level this year.
c. Material investments policy
d. Principal funding
Structure, governance and management
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 22 September 1955.
The company is constituted under a Memorandum of Association dated 22 September 1955 and is a registered charity number 207480. The company was incorporated on 6 October 1955 and commenced trading on that date. The principal object of the company is to maintain and develop research into the advancement of mankind and the development of thought, through lectures, meetings and other activities. The research relates to the teachings of G.I. Gurdjieff. There have been no changes in the objectives since the last annual report.
b. Methods of appointment or election of Trustees
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
Structure, governance and management (continued)
c. Policies adopted for the induction and training of Trustees
d. Pay policy for senior staff
There are no senior staff members.
e. Organisational structure and decision-making
All decisions are made by the council or by delegated trustees or members of the society for specific areas of expertise.
f. Financial risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. They believe that maintaining free reserves at the levels stated will provide sufficient resources.
Trustees' idemnities
The Society provides and maintains indemnity insurance for the committee members as allowed under the charitable company's Articles of Association.
None of the council members had any beneficial interest in the charitable company. All of the council members are members of the charitable company and guarantee to contribute £1 in the event of a winding up.
Funds held as custodian
There are no funds held as custodian.
Future developments
The Gurdjieff Society continues to extend its activities in furtherance of its objectives including the development of Bray. It is also seeking to strengthen its relationship with the like-minded organisations in North and South America, Europe and, increasingly, many other parts of the world.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
Statement of Trustees' responsibilities
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
∙so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
∙that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the members of the board of Trustees on
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY
We have audited the financial statements of The Gurdjieff Society (the 'charitable company') for the year ended
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 United Kingdom, including the Financial Reporting Council'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.
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.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY (CONTINUED)
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
∙the Trustees' report has been prepared in accordance with applicable legal requirements.
In the light of our 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 Trustees' report.
We have nothing to report in respect of the following matters in relation to which 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; or
∙the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY (CONTINUED)
As explained more fully in the Trustees' responsibilities statement, 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.
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 Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In order to identify and assess the risks of material misstatements, including fraud and non-compliance with laws and regulations that could be expected to have a material impact on the financial statements, we have considered:
∙the results of our enquiries of management and those charged with governance of their assessment of the
∙risks of fraud and irregularities; the nature of the company, including its management structure and control systems;
∙completeness of income;
∙compliance with the Charities Act 2011 requirements and disclosures; and
We also considered laws and regulations relating to employment and the preparation and presentation of the financial statements such as the Companies Act 2006 and the SORP.
Based on this understanding we identified the following matters as being of significance to the entity:
∙laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, Company Law and Charities Act 2011;
∙the timing of the recognition of rental and other income;
∙compliance with legislation relating to health and safety and fire risk assessments;
∙management bias in selecting accounting policies and determining estimates;
∙inappropriate journal entries;
∙the requirement to impair freehold properties and the amount of any such impairments; and
∙impairments or uplifts to the valuation of the investment property due to changes in market value.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE GURDJIEFF SOCIETY (CONTINUED)
We communicated the outcomes of these discussions and enquiries, as well as consideration as to where and how fraud may occur in the entity, to all engagement team members.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised:
∙enquiries of managing trustees and those charged with governance as to whether the entity complies with such laws and regulations and discussion with the same regarding any known or suspected instances of non-compliance;
∙reviewing the impairment review of the freehold property
∙considering rental yields and market values to confirm the valuation of the investment property;
∙proof in total of rental income with reference to the lease agreements;
∙analytical review of other income and expenditure;
∙assessment of matters reported to management and the result of the subsequent investigation; and
∙obtaining an understanding of the relevant controls and testing their operation during the period.
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 Auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditors
14th Floor
33 Cavendish Square
London
W1G 0PW
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
REGISTERED NUMBER: 00555631
BALANCE SHEET
AS AT 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
REGISTERED NUMBER: 00555631
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The financial statements were approved and authorised for issue by the Trustees on
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The Gurdjieff Society is a Company limited by guarantee, and it is incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.
2.Accounting policies
The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading Gains/(losses) on investments’ in the Statement of financial activities incorporating income and expenditure account.
Investment properties are included on the balance sheet at their open market value. Although this accounting policy is in accordance with the applicable accounting standard, Charities SORP FRS102 it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the council members, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
All assets costing more than £1,000 are capitalised
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate
that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities incorporating income and expenditure account.
The Society does not provide for depreciation on freehold buildings. It is considered however, that non-compliance with the standard does not have a material effect on the financial statements since it is the Society's policy to maintain freehold buildings to a standard which will prolong their useful lives indefinitely and certainly for greater than 50 years and to ensure that their value will not diminish over time. Maintenance costs are charges to the income and expenditure account in the period incurred. In the opinion of the Council, therefore, any charge for depreciation would be immaterial.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings - 15% straight line under the cost model, heritage assets are measured at cost less any accumulated impairment losses.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
6.Analysis of charitable expenditure (continued)
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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THE GURDJIEFF SOCIETY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,638 (2023: £6,552).
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