Company registration number 08124695 (England and Wales)
Charity registration number 1148460 (England and Wales)
MARYGATE HOUSE HOLY ISLAND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
MARYGATE HOUSE HOLY ISLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr Andrew E Duff
Revd Dr Sarah A Hills
Mr Jonathan F Merrison - Chair & Treasurer
Revd Gillian H Maude
Revd Mary Taylor
Ms Faith N Brennan
Mr Mark L Wilson
(Appointed 21 March 2026)
Charity number
1148460
Company number
08124695
Registered office
Marygate House
Holy Island
Berwick upon Tweed
TD15 2SD
Independent examiner
Stuart W Allister BA CA
Greaves West & Ayre
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
Solicitors
T C Smith Solicitors LLP
9 Church Street
Berwick upon Tweed
Northumberland
TD15 1EF
MARYGATE HOUSE HOLY ISLAND
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 17
MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charitable Company's Articles of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

Marygate House Holy Island (Charitable Company) aims to enable groups of people or individuals to come to Holy Island and carry out a religious, educational or cultural programme. It is also part of its remit to assist those members of staff who usually remain within the Charitable Company for up to one year and to discern where their future career path lies and to help enable them to try and achieve that goal.

Visitors are provided with full board and whatever assistance with their programme that may be required. It is not the purpose of the Charitable C ompany to provide accommodation for seaside holidays and great care is taken to explain this to potential visitors.

The Charitable Company owns one large building, Marygate House, and its adjoining cottage known as Elemore Cottage.

The Charitable C ompany makes no charge for the use of facilities or for staying at any of the properties, making it available for all, regardless of their financial situation. The Charitable C ompany relies solely on voluntary donations from guests and others to cover costs and running expenses.

It is normal for Marygate House to be used by individuals and groups up to its capacity of 18 people.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charitable Company should undertake.

Achievements and performance

2025 proved to be another challenging year due to staffing issues; it is welcome to report that the staff Team has now not only a Warden and Deputy Warden, but also a second Intern (the first being with us just for the Summer).

Marygate House and Elemore Cottage have both been re-pointed by a specialist in lime pointing and all previous problems resolved, making the fabric of the property completely sound (with small outstanding issues to be tackled in the Spring). This means that attention can now be focused completely on the plans for a full internal refurbishment.

The Deputy Warden appointed at the beginning of the year, though she was not able to make the job work for her (as she lives on the mainland), did bring to Marygate House a sense of style and, for a limited cost, has given the public rooms and bedrooms a welcome uplift and modernisation.

It became clear to the Trustees that accommodation for a permanent Deputy Warden would have to be found from within the accommodation in Marygate House. The upper floor of Elemore cottage, along with the downstairs kitchen, was therefore made into a self-contained flat. This allowed the Trustees to widen the field for recruitment. The downstairs, ensuite room, along with the laundry, both in Elemore cottage, continue to be used for guest accommodation and cleaning and storage purposes. This has meant a reduction in bedrooms for guests from 9 to 8.

Despite this, once again, there has been a nearly 20% increase in guest-nights over 2025 with, again, an increase in donations received.

MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Plans for the future

Chell Perkins was appointed as the Fund Raising specialists for the next phase of redevelopment of Marygate House. It is estimated that £60,000 will be needed to draw up feasibility studies; this first sum of money will need to be raised ‘in house’ from the generosity of guests and those people who feel a past and current connection with this place. We have over £30,000 of this raised already and in January 2026, we will be contacting surveyors to gain a more exact quotation for the amount of money this stage will need. Once this stage is completed, the Fund Raisers have highlighted larger funding bodies to be approached for the larger sum to be raised.

It is part of the remit of the Intern to strengthen links with the Community of the Cross of Nails; the staff are intending to make a visit to Coventry in the quiet of the Winter season.

The presence of Marygate House on Social Media, Instagram and Facebook, has continued to grow and, with a more accessible website, Marygate House is becoming more widely known; both enquiries and bookings continue to increase (the House is fully booked for much of March to the end of October already).

The Trustees continue to have confidence that the changes having been made over the last three years have set a sustainable course for the future of Marygate House.

Financial review

The C haritable C ompany is non-profit making. There is no fixed charge for accommodation of guests. Income is derived from donations and covenants, with a small amount from the sale of pamphlets. The T rustees acknowledge the generosity of those who stay, resulting in healthy bank balances. The attached financial statements show the current state of the finances which the T rustees consider to be satisfactory.

Reserves policy

The T rustees have reviewed the reserves of the C haritable C ompany, in the light of the nature of the income and expenditure streams and consider them enough to meet current and future requirements.

It is the policy of the Charitable Company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charitable Company’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Risks

The Trustees has assessed the major risks to which the Charitable Company is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

Trustees

There were no resignations in this year. Mark Wilson, whose background is in education, joined the Trustees. He has already made an invaluable contribution with his knowledge of policy compliance, among other issues.

MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

Staffing

At the end of January, Gary Richardson left the post of Deputy Warden. The intention was to replace him with two Deputy Wardens, probably from the mainland, to give extra staffing cover and more staff hours. This plan did not prove successful as the Trustees were not able to appoint two people. Jenny came to join the Team at the beginning of February but left at the beginning of April. As a second person hadn’t been appointed and due to the tides, the Warden was needed to work throughout the time guests were in the House.

More successfully, an Administrator was appointed. Amanda has brought to the administration of the office greater order and revised systems, particularly in relation to bookings. In addition, she has given Marygate House a simple, stylish website. It was with deep regret the Trustees received the news that she wished, in early November, to step back from all Administration roles and concentrate on her creative talent (from which Marygate House has also benefitted). At present, the Warden has taken on the Administration as this is a critical time in our fundraising efforts; the Administrator will need to track likely donors from the information gleaned from booking forms and enquiries.

At the beginning of July, a full time Deputy Warden, Catherine, was appointed and moved into Elemore cottage. Arriving at the busiest time of the year, she settled in quickly and is a huge asset to the House and Team here.

In the Summer, an Intern was appointed, jointly with the Parish Church. Tom worked for 2 months and greatly valued his time here. In November, Rachael, our first year-long Intern was appointed. Interns spend 20 hours of their week with the work of Marygate House and 15 hours in Parish activities. Marygate House offers accommodation and board, with the Parish giving a small stipend on which to live.

Public Benefit

Throughout this report the Trustees have sought to highlight those activities undertaken by the Charitable Company in furtherance of its charitable objectives for the public benefit. The Charitable Company continually considers its activities and policies with particular regard to the public benefit guidance published by the Charity Commission in the Charities Act 2011.

Structure, governance and management

Marygate House Holy Island was incorporated on 29 June 2012.

The Charitable Company is a company limited by guarantee, having no share capital and solely charitable objectives. It is governed by it's Memorandum and Articles of Association.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

Mr Andrew E Duff
Revd Dr Sarah A Hills
Mr Jonathan F Merrison - Chair & Treasurer
Revd Gillian H Maude
Revd Mary Taylor
Ms Faith N Brennan
Mr Mark L Wilson
(Appointed 21 March 2026)

The Articles of Association provides for a minimum of six Trustees. Where there is a requirement for new Trustees, these would be identified and appointed by ordinary resolution. The Chair of Trustees is responsible for the induction of any new Trustee which involves awareness of a Trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the Charitable Company. A new Trustee would receive copies of the previous year's annual report and accounts.

None of the Trustees has any beneficial interest in the Charitable C ompany. All of the Trustees are members of the Charitable C ompany and guarantee to contribute £1 in the event of a winding up.

There were no resignations in this year. Mark Wilson, whose background is in education, joined the Trustees. He has already made an invaluable contribution with his knowledge of policy compliance, among other issues.

MARYGATE HOUSE HOLY ISLAND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The Charitable C ompany works closely with St. Mary's Church, Holy Island with regard to the sale of publications.

Statement of Trustees' responsibilities

The Trustees, who are also the directors of Marygate House Holy Island for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare accounts 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 year.

In preparing these accounts, the Trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charitable Company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable Company and enable them to ensure that the accounts 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.

Exemptions

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

The Trustees' r eport was approved by the Board of Trustees.

Mr Jonathan F Merrison - Chair & Treasurer
Dated: 26 March 2026
MARYGATE HOUSE HOLY ISLAND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MARYGATE HOUSE HOLY ISLAND
- 5 -

I report to the Trustees on my examination of the financial statements of Marygate House Holy Island (the Charitable Company) for the year ended 31 December 2025.

Responsibilities and basis of report

As the Trustees of the Charitable Company (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the Charitable Company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charitable Company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

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 that in any material respect:

1

accounting records were not kept in respect of the Charitable Company as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements 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 financial statements 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.

Stuart W Allister BA CA
Greaves West & Ayre
Chartered Accountants & Statutory Auditors
17 Walkergate
Berwick-upon-Tweed
Northumberland
TD15 1DJ
Dated: 26 March 2026
MARYGATE HOUSE HOLY ISLAND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
Unrestricted
Unrestricted
Total
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
general
designated
general
designated
2025
2025
2025
2024
2024
2024
2024
Notes
£
£
£
£
£
£
£
Income from:
Donations and legacies
3
196,222
-
196,222
144,238
-
22,335
166,573

Investment s

4
1,544
242
1,786
1,110
97
-
1,207
Total income
197,766
242
198,008
145,348
97
22,335
167,780
Expenditure on:
Charitable activities
5
172,421
6,575
178,996
140,729
2,570
22,335
165,634
Net incoming resources before transfers
25,345
(6,333)
19,012
4,619
(2,473)
-
2,146
Gross transfers between funds
906
(906)
-
-
-
-
-
Net movement in funds
26,251
(7,239)
19,012
4,619
(2,473)
-
2,146
Fund balances at 1 January 2025
24,754
75,069
99,823
20,135
77,542
-
97,677
Fund balances at 31 December 2025
51,005
67,830
118,835
24,754
75,069
-
99,823

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
MARYGATE HOUSE HOLY ISLAND
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 7 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
68,297
68,446
Current assets
Debtors
11
19,740
16,080
Cash at bank and in hand
75,425
46,648
95,165
62,728
Creditors: amounts falling due within one year
12
(42,861)
(24,372)
Net current assets
52,304
38,356
Total assets less current liabilities
120,601
106,802
Creditors: amounts falling due after more than one year
13
(1,766)
(6,979)
Net assets
118,835
99,823
The funds of the Charitable Company
Unrestricted funds - general
17
51,005
24,754
Unrestricted funds - designated
16
67,830
75,069
118,835
99,823

The Charitable C ompany is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.

The directors acknowledge their responsibilities for ensuring that the C harit able Company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the Charitable C ompany as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 C ompany.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 26 March 2026
Mr Jonathan F Merrison - Chair & Treasurer
MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
1
Accounting policies
Charity information

Marygate House Holy Island is a private company limited by guarantee incorporated in England and Wales. The registered office is Marygate House, Holy Island, Berwick upon Tweed, TD15 2SD.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charitable Company's Articles of Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The Charitable Company is a Public Benefit Entity as defined by FRS 102.

The Charitable Company has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the Charitable Company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

1.2
Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charitable Company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Incoming resources

Income is recognised when the Charitable Company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charitable Company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants receivable are recognised in the Statement of Financial Activities in full in the year which they become receivable, that is when the conditions for receipt have been met.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 9 -
1.5
Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are allocated to direct charitable expenditure, costs of generating funds and governance costs under the appropriate headings.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Nil
Property improvements
10% Straight Line
Fixtures, fittings & equipment
25% Straight Line
Website design
25% Straight Line

Although Accounting Standards require the annual depreciation of fixed assets, there is no provision in the financial statements for depreciation of Freehold land and buildings. The buildings are maintained to a high standard to prevent deterioration. The estimated residual value of the buildings are, at current prices, not less than their book value. The Trustees therefore believe that the policy of not providing depreciation is necessary for the accounts to give a true and fair view. The freehold property is held on furtherance of the Charitable Company's objectives and not as an investment.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the Charitable Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 10 -
1.9
Financial instruments

The Charitable Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charitable Company's balance sheet when the Charitable Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charitable Company’s contractual obligations expire or are discharged or cancelled.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charitable Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
2
Critical accounting estimates and judgements

In the application of the Charitable Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
Donations and gifts
-
-
-
-
22,335
22,335
General donations
177,588
-
177,588
132,006
-
132,006
Other
18,634
-
18,634
12,232
-
12,232
196,222
-
196,222
144,238
22,335
166,573
4

Investment s

Unrestricted
Unrestricted
Total
Total
funds
funds
2025
2024
general
designated
£
£
£
£
Interest receivable
1,544
242
1,786
1,207
For the year ended 31 December 2024
1,110
97
1,207
MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
5
Charitable activities
Charitable activities

Staff costs

Depreciation
Total
2025
Total
2024
£
£
£
£
£
Staff costs
-
41,179
-
41,179
39,698
Depreciation and impairment
-
-
2,771
2,771
2,570

Sundries

2,451
-
-
2,451
979

Legal and professional

63
-
-
63
4,963

Independent examination costs

6,581
-
-
6,581
5,384

General running expenses

25,536
-
-
25,536
16,835

Heating and lighting

11,472
-
-
11,472
16,417

Council tax and water charges

2,175
-
-
2,175
1,778

Repairs, renewals and equipment

59,844
-
-
59,844
65,792
Secretarial fees
6,904
-
-
6,904
-

Insurance

3,114
-
-
3,114
3,070

Rent

6,630
-
-
6,630
2,800

Refuse collection

2,828
-
-
2,828
3,029

Advertising

1,871
-
-
1,871
810

Postage and stationery

389
-
-
389
341

Telephone

140
-
-
140
323

Computer costs

625
-
-
625
565
Other charitable expenditure
4,423
-
-
4,423
367
Bank charges
-
-
(87)
135,046
41,179
2,771
178,996
165,634
Analysis by fund
Unrestricted funds - general
131,242
41,179
-
172,421
Unrestricted funds - designated
3,804
-
2,771
6,575
135,046
41,179
2,771
178,996
For the year ended 31 December 2024
Unrestricted funds - general
101,031
39,698
-
140,729
Unrestricted funds - designated
-
-
2,570
2,570
Restricted funds
22,335
-
-
22,335
123,366
39,698
2,570
165,634
6
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
2,771
2,570
MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
7
Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year (2024: None).

8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
2
2
Employment costs
2025
2024
£
£
Wages and salaries
40,392
39,212
Other pension costs
787
486
41,179
39,698

The total wages expense for the year was £40,392 (2024: £39,212) and no employees received emoluments greater than £60,000 (2024: Nil).

9
Taxation

The Charitable Company is exempt from Corporation Tax and is not registered for Value Added Tax.

10
Tangible fixed assets
Land and buildings
Property improvements
Fixtures, fittings & equipment
Website design
Total
£
£
£
£
£
Cost
At 1 January 2025
63,672
61,763
18,339
-
143,774
Additions
-
-
1,620
1,002
2,622
At 31 December 2025
63,672
61,763
19,959
1,002
146,396
Depreciation and impairment
At 1 January 2025
-
58,072
17,256
-
75,328
Depreciation charged in the year
-
2,098
637
36
2,771
At 31 December 2025
-
60,170
17,893
36
78,099
Carrying amount
At 31 December 2025
63,672
1,593
2,066
966
68,297
At 31 December 2024
63,672
3,691
1,083
-
68,446
MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
19,740
16,080
12
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
14
17,213
17,085
Other creditors
950
4,373
Accruals and deferred income
24,698
2,914
42,861
24,372
13
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans
14
1,766
6,979
14
Loans and overdrafts
2025
2024
£
£
Bank loans
18,979
24,064
Payable within one year
17,213
17,085
Payable after one year
1,766
6,979
15
Retirement benefit schemes
Defined contribution schemes

The Charitable Company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charitable Company in an independently administered fund.

The charge to income and expenditure in respect of defined contribution schemes was £787 (2024: £486).

MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
16
Unrestricted funds - designated

These are designated funds which are material to the Charitable Company's activities made up as follows:

At 1 January 2025
Incoming resources
Resources expended
Transfers
At 31 December 2025
£
£
£
£
£
Building Maintenance Fund
3,426
242
-
(906)
2,762
Fixed Asset Fund
67,839
-
(2,771)
-
65,068
Elizabeth Barrie Fund
3,804
-
(3,804)
-
-
75,069
242
(6,575)
(906)
67,830
Previous year:
At 1 January 2024
Incoming resources
Resources expended
Transfers
At 31 December 2024
£
£
£
£
£
Building Maintenance Fund
3,329
97
-
-
3,426
Fixed Asset Fund
70,409
-
(2,570)
-
67,839
Elizabeth Barrie Fund
3,804
-
-
-
3,804
77,542
97
(2,570)
-
75,069

The Designated Building Maintenance Fund was created to account for ongoing property improvements and maintenance. The transfer of £906 from the Designated Building Maintenance Fund to Unrestricted General Funds has been carried out in order to realign the fund balance at the year end, following some of the Charitable Company's repairs and maintenance costs being met from Unrestricted General Funds in prior years.

The Designated Fixed Asset Fund has been created to account for changes in the fixed assets of the Charitable Company and associated depreciation charges.

The Elizabeth Barrie Fund was set up in 2017 from a donation made by Dr K Butterworth in memory of the late Elizabeth Barrie, who volunteered at St Mary's House. During the year, the Trustees decided to utilise the remaining fund balance to assist with the ongoing repair and maintenance costs of Marygate House and Elermore Cottage.

MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
17
Unrestricted funds

The unrestricted funds of the Charitable Company compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d.

At 1 January 2025
Incoming resources
Resources expended
Transfers
At 31 December 2025
£
£
£
£
£
General funds
24,754
197,766
(172,421)
906
51,005
Previous year:
At 1 January 2024
Incoming resources
Resources expended
Transfers
At 31 December 2024
£
£
£
£
£
General funds
20,135
145,348
(140,729)
-
24,754
18
Analysis of net assets between funds
Unrestricted Funds
Designated Funds
Total
£
£
£
Fund balances at 31 December 2025 are represented by:
Tangible assets
3,229
65,068
68,297
Current assets/(liabilities)
49,542
2,762
52,304
Long term liabilities
(1,766)
-
(1,766)
51,005
67,830
118,835
19
Operating lease commitments

At the reporting end date the Charitable Company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
14,400
-
Between two and five years
51,600
-
66,000
-

MARYGATE HOUSE HOLY ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
20
Related party transactions

The Charitable Company works closely with St. Mary's Church, Holy Island with regard to the sale of publications. At the year end £Nil (2024: £Nil) was due to be paid to the Church for sales.

21
Indemnity Insurance

Funds of the Charitable C ompany have been used to provide Indemnity Insurance to protect the Charitable C ompany and its T rustees against the consequences of any neglect or defaults.

During the year, £3,114 (20 24: £3,070) was charged to the income and expenditure account in respect of indemnity insurance.

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