AMPLEFORTH ABBEY TRUST Annual Report and Financial Statements Year ended 31 August 2024 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Introduction from the Chair of Trustees "Come and see" is the response, recorded in John's gospel. which Jesus gives to tivo disciples w'ho ask "Master, Ivhere do you live?,: It is not about geography, but an invitation to experience an encounter with Jesus. And that same phrase, "Come and see" lsat the heart of the exciting developments in the hospitality apostolate at Ampleforth Abbey which were a highlight of the reporting period. We are grateful to the donors whose generosity enabled the refurbishment of Alban Roe House, which was officially opened by the Cardinal Archbishop of Westminster on 19 March 2024. the feast of Saint Joseph. The date was, th¢ Cardinal suggested, suitable moment for the blessing of this new House, in which visitors will learn about the Gi)d-given dignity of their lives; in which they will groiv in the deep spirit of listening for the prompting of God in their lives and the ￿,]llingneSS to follow. God's call. and in ii,hich they will be welcomed into a safe and life-enhancing environment." Maintaining and sustaining that environment in order to secure the future sustainability of the monastic community at Ampleforth Abbey is a task that presents many challenges. Like many small organisations we are faced with declining income streams at a time ii-hen costs are increasing. I would like to place on record my gratitude to MN, fellow trustees, to the senior officials within the charity, and to all our staff and volunteers w'ho work tirelessly and creatively to meet the challenges and continue along the journey marked out by our strategic plan. Choosing a Fulure Togeiher. Like any trustees, report, the finance figures speak for themselves. They need no comnientary, they paint a stark picture, and, to paraphraK the legal jargon. the report provides information about the company's business. Bul Nvhile rightlv w'e w'ill comply IN ith our duty as trustees to balance the figures, we will continu¢ to be faithful to our mission of welcoming visitors to "CoTn¢ and See" And here I would like to cite two very different examples which encourage us in these challenging times. In November 2023 w'e hosted the abbots and abbesses of the English Benedictine Congregation, religious superiors from the Abb¢ys of Doii'nside: Douai. Stanbrook, BelmonL Curzon Park, Ealing, Buckfast and Worth in Enoland. as well as Washington: Portsmouth and St Louis in the USA. Kylemore in Ireland; Mariavall in Sweden; and, finally. Jamberoo in Australia. An insightful, valuable experience. And six months after the opening of Alban Roe House, we conducted a survey among the schools who had been using it for their retreats and many of I￿h1Ch had been involved in the planning stage of the refurbished facility so that it could meet their needs. The l OOO/o response level was huinbling and challenging: "Outstanding! The work that has been done to refurbish the building has created one of the best residential retreat buildings I haile taken students to in 18 years of leading groups. The facilities are second to non¢ and the staff involved at every level of helping to support the planning and delivery of the retreats could not be any more helpful and friendly" "Come and see" (John 1.39). Fr Wulstan Peterburs OSB Chair of Truslees Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Contents 02 Introduction from the Chair of Trustees 04 Objects of the Charity 05 Trustees, report 14 Public Benefit 15 Structure. Governance and Management 17 Financial Summary 20 R¢fer¢nce and administrative details 22 Statcment of Trustees. responsibilities 23 Auditor's report 27 Statement of financial activities 31 Balance Sheet 32 Cash Flow Statement 33 Notes to the financial statements ZV.. R Ampleforth Abbey Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Trustees, re ort Objects of the Charity The main object of the charity is the furtherance of the Roman Catholic religion, and to that end the members of the Community and Trust staff ar¢ engaged in avariety of works. includingthe maintenanc¢ of the monastic Community and its property. the welcoming of guests. education and parish work in dioceses of the Roman Catholic Church. Thc main aims of the monastic Community are stated as follows: We will actively seek God by choosing to live the fraternity of the Gospel inspired by the Rule of St Benedicl. We firn]ly believe that prayer is our fundamental mission because it roots us in a living relationship with Christ and so, as the Rule teaches us, we give priority to the celebration of the Liturgy of the Hours, the EucharisL leclio on the Word of God. spiritual reading, and personal prayer. We therefore commit ourselves to strive daily for personal and communal holiness. in fidelity to our vows of Obedience, Conversalio inorum and Stability and strive to lovingly support and serve each other in practical ways taking responsibility for our life together. We seek to become a vibrant community of faith and will look for ways to develop a joyful, simple, and balanced life of prayer, work, and time of recreation together as brothers. We will endeavour to serve the Church and the world creatively by generating a welcoming, listening, and safe environment that recognises Christ in all w.hom M'e meet and serve. Learning from their experience we se¢k to establish a place of faith and pra)"er whose doors are open to ¢iieryon¢ to shar¢ in our ongoing search for God. We aspire to offer to the world a living witness to the inspirational values and joy of the Gospel and the centrality of union with Christ. JJ1414444 ,WiiJiil Choir stalls in the Abbey church Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 The board of trustees meets fom]ally seven times a year. The board has developed an efficient hybrid- meeting system. with some people present in-person and others participating remotely. Although the preference would always be, ￿'hen possible. for in-person presence, it is noticeable that the effectiveness of the board meetings has not suffered from any reliance on technology. The level of discussion, challenge and scrutiny remains high. Regular trustee training is provided and the truslees aim to set aside one day a year as an in-person "Strategy away day , thereby enabling the trustees to devote significant time to this singularly important agenda item. The trustees would like to set out the folloiTr'ing highlights for the reporting period. Strategic Plan Development The 5-year Strategic Plan Choosing a Fulure TogL)Iher. approved by the board of trustees in January 2022. remains an indispensable resource and fundainental point of reference in enabling the Trust to steer a course through ihe challenges of the reporting period. The main focus for the Executive has been the iniplem¢ntation of a financial Recovery Plan aligned with the fundamental aim of the Strategic Plan stated as "lo providefor a suslainablefyiurefor ihe Ainpleforih .Voiiaslic Coinmunity,, enablikig it lo live a monastlL life in accordance with the Rule of.si Benedicl and to be a vibrant conimuFiity offaith to which guesls can be welcomed io share ihe searchfor God" Implementation of the Recoi'ery Plan identified a number of workstreams which became the focus of 'ork in the reporting period.. asset disposals, budgets, lease negotiations ￿1th the St Laurence Education TrusL fundraising, governance, hospitalitylguests, and staffing. Progress against the financial Recovery Plan is reported to every meeting of the Finance. Audit and Risk Committee and then to the full board of trustees. Asset dis osals residential ro erti¢s and farmland Excellent Pro roi'ed On schedule for com Good Pro Good Pro ess Moderat¢ Pro Moderate Pro Tess Lease ne otiations Nvith St Laurence Education Trust Fundraisin Governance Hos itali Staffin letion in 2025 ress uests ress ress Although the progress made in all areas of the Recovery Plan has not resolved the financial challenges which the Trust faces, it is a clear sign of the positii'e direction of travel and provides encouragement to strive ahead to meet financial expectations in 20241?0?5. The sections which follow provide some indication of how ihe trustees have been seeking to mitigate these challenges. Consolidation of the Estate As in the last reporting period, Ampleforth Abbey Trust has continued its wiork on appropriate disposal of assets in order to consolidate land and buildings ￿-hICh are central to the monastery's core mission in both providing the physical setting for the mission and works of the monastic community and in Providing rev¢nue to support this mission and work. Following approval from the board of trustees and the monastic Conventual Chapter, the sale of th¢ majority of fannland held by the Trust has been completed, save for a buffer area around the monastery,. The trustees would like to place on record their gratitude to Aulism Plus, the charity supporting autistic adults. whose ten-year partnership M'ith Ampleforth Abbey Trust came to an end in October 2024. In 2014 Aulism Plus leased Park House Barns from the Abbey Trust in order to establish a social enterprise training venture and over the years the chocolate-making factory it had opened at Park House Barns Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 developed and provided a number of retail items which became popular in the Abbey Shop. By 2024 it was clear that Autism Plus needed a larger premises and re-located in October 2024. The Abbey Trust is delighted that it was able to support Autism Plus in establishing its social ente￿rISe and wishes the charity every success for the future. Thc Abbey Trust was able to secure the sale of the property vacated by Autism Plus and this sal¢ has been completed. Trustees are mindful of the constraints of canon laii. and civil law. w'ith respect to disposals of land and buildings and ar¢ careful to take professional advice to ensure that the temis of all transactions are compliant w'ith both and are the best that could reasonably be obtained for the charity. The majority of proceeds from the disposal of assets has been invested to generate an income stream which will contribute to the future sustainability of the monastery. Sufficient proceeds haiie been used to support short-tenn operational expenditure unlil ?0?7 w'hen it is hoped that the new operaling model introduced in 2023124, and which include a fundraising strand, will enable the charity to reach a break- even position. Recovery Planning As can be seen from previous Trustee s Reports and Annual Statements the charity has operated at a deficit for the past five years. This has been the result of a combination of an erosion in income from Ampleforth College, as fee income fell and less monastic resource was employed in the College, the regulatory crisis suffered from ?016, ￿hICh increased compliance/recovery expenditure and had a negative effect on fundraising, and finally the pandemic V¥hich, as it did for most other hospitality business, stripped away two years of commercial income. The regulatory necessity of the separation of Ampleforth Abbey and College has presented an opportunity for the Abbey to review its operations as a small standalone charity. During the reporting period, consideration of how the charity illill ￿cOMe sustainable on this basis has been a priority. Approaches to sustainability were considered by trustees in May and July 2022 and an agreed programme of consolidation of major assets and disposing of liabilities ￿-aS agreed as a first step. This has now been completed as described above with the addition of the facilitation of the buy-out of the charity's legacy pension scheme which represented an annual liability in excess of £0.25 million. The trustees and senior staff ar¢ acutely aware of the need not to erode capital investments to fund operations for any longer than necessary. Accordingly. a detailed longer-tenn plan for reduced expenditure, increased commercial income and fundraising was considered in March and May 2023 and approved by trustees in May 2023. This plan details a staged approach to sustainability and aims for a break-even position for the Trust within 4 years. Financial strategy Good stewardship is integral to th¢ work and mission of the charity and the purpose of the Finance, Audit and Risk Committee is to approve and report on the financial strategy and appropriate targets. The Committee is responsible to the board of trustees to ensure that the charity's day-to-day financial and administrative matters meet all statutory requirements and follo￿ best practice. The key components of the financial strategy are summarised below: l. Reducing and eliminating the excess of expenditure over income on an annual basis In recent years, as has been reported in previous Trustees, Reports and Annual Statements, the charity has operated at a deficit which threatens the long-terni sustainability of the monastic Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 community. One of the key elements of the Recovery Plan is the reduction of expenditure and the reporting period has sttn cost-cutting exercises implemented thr()ughout the organisation. Staff numbers have inevitably reduced and the Trust would like to place on record its gratitude to all the staff and volunteers who work tirelessly to help the charity achieve its charitabl¢ objectives. Reduction in expenditure goes hand-in-hand with the aim to increase income. This report has highlighted the ne￿, visitor facilitv in Alban Roe House and it is hoped that in the years ahead this Nl'ill dei'elop into a major asset for the charity. 2. Realising cash from the sale of surplus assets As has been reported previously, in recent years the charity has gradually disposed of assets in order to consolidat¢ land and buildings which are central to the monastery's core mission. The reporting period has seen the disposal of a number of such assets and the investment of funds arising from such sales is managed by the Investment Committee, which reports to the main board of trustees. 3. Developing an enhanced income stream Financial sustainability is reliant on the maximisation of income opportunities and capital growth of these financial assets in line with the charity's ethical investment policy and minimising interest costs through the management of its cash position. During the reporting period, the income stream focus was the opening and development of Alban Roe House. The charity's fundraising strategy is only just beginning and any benefits from that strategy will take time to emerge. Hence, it is imperative that Alban Roe House succeed as a commercial venture generating the sort of incoine required for the financial sustainability of the Trust. Safeguarding As Th'as noted in the last Trustees, Report and Annual Statements, in August ?0?3 the Catholic Safeguarding Standards Agency (CSSA) undertook a baseline audit of safeguarding arrangements for Ampleforth Abbey against the CSSA'S national safeguarding standards. The outcome of the audit was extremely positive and recognised the significant and ongoing work of the Charity in this crucial area. The CSSA approved the Action Plan drawn up as a result of the audit and all its recommendations w¢r¢ completed by October 2024. Subsequently the Action Plan was submitted to the CSSA for sign-off. Keeping people safe is at the heart of everything we do and we are committed to providing the highest standards ot safeguarding for children and adults at risk. Our Strategic Plan "Choosing a Fulmre Togellier" sets out six objectives, one of V¥'hich is to "Demonstrate our Safeguarding Commitment" Within this the following high-level actions are identifi¢d- Embed a safeguarding culture that demonstrates committed leadership. vigilance, curiosity, care and kindness Ensure that we train and support all who live and ￿Ork at Ampleforth Abbey to deliver exemplar! safeguarding practice Offer apology, reparation and, as they wish, support to victims and survivors, as we listen to and learn from their experiences Demonstrate legal compliance and best safeguarding practice Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Communicatc internally and externally our commitment to safeguarding and be accountable for ensuring we demonstrate this commitment across all our activities Safegiiarding Policy is reviewed and refreshed every year to check it aligns ii-ith statutory requirements and best practice. Robust safer recruitment measures and training programmes are in place for all staff and monastic community at Ampleforth Abbey and monitored through a performance dashboard. Continuous improN'ement in practice is evidenced in the annual safeguarding report and action plan overseen by the Safeguarding Committee. Our Sofeguarding Commitmenl. published on our website, places emphasis on effective leadership and cultural change, and is used as a reference document in new staff induction and refresher training. This c.ommitment includes assurance that 'When .¥afeguarding cop7cerns are ideiilified ive folloTrv robust procedures M,hich include reporling safeguardi17g concerns lo ihe local auihority as if inandalorv reporling were inplace and removingpeople Iinonaslic and l(ry)froni ihe Abbey sile as aprecaulionary easure Our Safeguarding Commilmenl also includes clear commitments to our ongoing important work with survivors of abuse 'We offer a hL)urifeli aiid honesl apolo￿,. reparali017 and. as ihejy M:ish. supporl lo survivors and viclipns H,ho have experienced abuse bv inoiiks, slaffor i'olunteers ofAinpleforih Abbey" and "We offer pasloral siipporl lo any survivor or vicliin ofpasl abwe M,herever ihis occurred" We also have a fornial Commitmen¢ lo Survivors which is published on our wiebsite. The commitment frames the way w¢ w'ill w'ork M'ith survivors and sets out clearly ￿hat survivors may expect of us in our engagement w'ith them including the onw'ard reporting of safeguarding allegations. All our staff and members of the monastic community have received training on engag¢m¢nt ivith survivors. The most important impact of this work is, without question, on the survivors themselves. We are moved to read letters from survivors of abuse at Ampleforth V¥ho have reached out to us, and with whom we have worked to provide support, and learn from this feedback as to how best to respond to support others as they come fonvard. Hospitality 2nd Ministry St Benedict wrote that "a monast¢ry is never without guests" and at Ampleforth Abbey the reception of guests is fundamental to the mission of the monastic community. Hospitality is a core work of the monastic community and Ampleforth Abbey welcomes all those who wish to come here and the experience of our living, working and praying monastic community is the guiding light to the future. The open invitation to "Come and see" is extended to all guests. without judgement. to draw near and experience a nourishing and respectful encounter that stems from the partnership at the heart of the monastic community. A new chapter was opened in the hospitality apostolate of Ampleforth Abbey when Cardinal Vincent Nichols, Archbishop of Westminster, blessed Alban Roe House, a retreat and Tr'isitor centre which has been extensively refurbished with the help of a generous donation. As indicated in the last trustees, report, the building houses a Visitor Centre. Tea Room, and small retail outlet- and group and conference facilities including a chapel. refectory. activity rooms. and predominantly dorn]itory accommodation for school groups with separate guestlorganis¢r bedroon]s. The building was developed in consultation with schools and the Trust s Director of Safeguarding and Wellbeing to ensure that provision meets the needs of young guests. The blessing on the Solemnity of Saint Joseph (19 March 20?4) was preceded by the celebration of Mass in the Abbey church attended by more than 100 invited guests including employees and volunteers, contractors who had worked on the refurbishment of Alban Roe House, representatives from Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 local parishes, and staff and students of Ampleforth College. More than 800 people also followed the Mass by live stream. Cardinal Nichols presided and celebrants included the Abbot of Ampleforth Abbey, Abbot Robert Igo OSB, with bishops and members of the monastic community. In his homily, Cardinal Nichols recalled bringing a group of sixth-fornj students from Wigan to Ampleforth in 1973. "For th¢ youngsters." he said. 'it was an ¢ye-op¢ner. Some had never been away from Wigan, never experienced the pitch black of night without street lights. never sensed the spirit of prayer of the monastic Divine oifice. Nor, more importantly, had some ever experienced the unconditional welcome they received from this community., The Cardinal said that the development of Alban Roe House will greatly enhance the outreach of the monastery, especially to today's young people. Cardinal Nichols blessing the entrance to Alban Roe House This invitation was reflected in the Pastoral PrO￿amMe 2024 which offered a wide variety of guided and individual retreats, opportunities for young people and university students to spend tim¢ at Ampleforth Abbey, and 'Monastic Experience Retreats, in which people shared the life and prayer of the monastic community. From a statistical perspective Ampleforth Abbey is responding to a need. In the reporting period, just over 4,400 guests were welcomed. ￿ ith occupancy levels in the refurbished accommodation at 6? %, compared to a figure of 570/0 for the previous year and 4?O/o pre-pandemic. Personal testimonies over the last year support the statistics- "I came on retreat in September 202J and enjoyed the peace, routine of the [monastic] Offices [of prayer] so much I came on retreat in June this year. Again, the same sense of peace and tranquillity" 'Such a special. peaceful place. l always feel welcome when I go there. I feel privileged to be part of th¢ Ampleforth family '[ have i'isited N-ice this year. I will be making it a ￿gUlar yearly retreat. The most beautiful and praverful place to refocus on God Almighty '. "Been many times...Very special place of prayer education and spiritual renewal" Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 "Beautiful, peaceful, a gentle way of life. Have stayed many times and have left refreshed and renewed" These eloquent testimonies are an encouragement to enhance the offering for guests and in the last trustees, report we were able to provide an update on the completion of the first stage of the refurbishment of the Abbey's guest accommodation in The Grdnge, which has a chapel, 16 en-suite bedrooms, meeting rooms, communal spaces and offices. Comeandse Entrance to the Visitor Centre On-line ministry was expand¢d to new audiences in the course of the reporting period, in particular through the use of tagging tools on YouTube which have all0￿.ed sei'eral of the weeklj. Home Retreats to reach over l 0,000 viewers. On average 1,000 people per month also download these Home Retreat broadcasts as podcasts which are mor¢ often used by a younger audience than other streaming platforn]s. Daily Mass also continues to reach approximately ?00 300 people per day and approximately l 00 listeners per day use audio streaming which is embedded directly in the website. In March 2024, Ampleforth Abbey V¥'¢lcomed just under 350 guests for The Easter RetreaL a highpoint in the liturgical year. In addition to the residential and day guests. there was also significant on-line participation, with an average of 500 people logged-on for the retreat talks and 800 for the religious services of the Triduum. There is no fixed charge for The Easter Retreat but donations provide a significant source of income to cover costs. io Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 11 Ampleforth Abbey church The Trust also hosted a number of special and diverse events, including the Youth 2000 Summer Festival, a 3-day prayer gathering for young people from across the UK. the Ryedale Grasscrete Grand Prix cycle event, part of British Cycling's National Road Series; and a concert in the Abbey church perforn]ed by the Tenebrae Choir as part of the Ryedale Festival, a concert recorded and subsequently broadcast on BBC Radio 3. The parish apostolate Monks from Ampleforth Abbey continue to work in a number of parishes in local dioceses. The Community at Ampleforth continues to serve three Ampleforth Abbey Trust parishes in the diocese of Middlesbrough: Our Lady and St Benedict, Ampleforth: St Chad, Kirkbymoorside, with the Chapel of Ease of St Mary, Helmsley. and St John, Easingwold, as well as one parish in the Archdiocese of Livetyool - St Joseph, Brindle. Each Parish has a Finance and General Purposes Committee made up of lay advisers and two of the four parishes are also supported by lay administrative employees. Larger parishes have a number of paid staff and a bigger network of administrative committees. A monk of Ampleforth Abbey served in the diocesan parish of St Mary s, Knaresborough, in the Diocese of Leeds, until 28 July ?024, afterwhich he returned to Ampleforth Abbey; one monk continues to serve in a diocesan parish at St Mary's. Bamber Bridge, in the Diocese of Salford. Further afield li Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 In the year under review, the Abbey also supported one dependent community of monks. The Monastery of Christ the Word, Monte Cassino, Zimbabwe, is a foundation made in 1996 at the invitation of th¢ Archbishop of Harare in the name of all the bishops of Zimbabwe. There are currently four monks of Ampleforth Abbey resident at the monastery of Christ the Word. They provide retreats and p¢ri(Kls of recollection for iiisitors and also lead retreats for other religious communities in Zimbabwe. As religious superior, the Abbot of Ampleforth Abbey visits the community in Zimbabwc oncc a year. The Monastery of Christ the Word in Macheke, Zimbabwe 12 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Fundraising and development The Ampleforth Abbey Trust is very grateful for the support it receives from donations and legacy gifts. Gifts to support the life and works of the monastic Community have a significant impact every year and the community pray for their benefactors every day. This year the Abbey Trust continued to w'ork in partnership with the Development Office of Ampleforth College. The Monastic Community, supported by the Development Office, regularly engaged with the Abbey's wider community of friends, including i'la the aclivity of The Ampleforth Society (Registered Charity 29626). The Abbey provides a Chaplain to the Society, Fr Richard ffield. V¥'ho works in partnership with Development Office stsff to maintain a strong connection ivith Society Members. The Ampleforth Society brings together forni¢r pupils of Ampleforth College, cUr￿nt and past parents of the College and friends of Ampleforth including fonner teachers and staff, and runs a varied programme of communications and events in the UK and further afield. including, among others. Cirencester, Hong Kong, Madrid, and New York. Through thesc and other activities, the monks of Ampleforth Abbey engage with this community to offer them spiritual accompaniment and an encounter with Christ through their witness to the Gospel and prayer. This remains an important supporter group for the Abbey Trust. The Abbey has been in receipt of many generous legacy gifts, which have been gratefully received and used to support the life and works of the monastic community and passed to th¢ St Laurence Education Trust where the legator's intentions w'as to support Ampleforth College. Through online giving many donations hav¢ been mad¢, particularly folloiving the Easter Triduum. A number of supporters hail¢ now chosen to make a regular monthly gift to support the Abbey Trust. The Abbe! Trust has also received restricted individual gifts for specific projects, including the creation and ongoing maintenance of the Marian Prayer Garden. The Ampleforth Lourdes Hospitalite, a work of the Abbey TrusL undertakes many fundraising initiatives to support pilgrims to travel to Lourdes for the annual Ampleforth Lourdes Pilgrimage. Just over 280 pilgrims travelled to the Marian shrine in the south of France for the pilgrimage which ran from l?_19 July 2024. Donors are kept infornied of how their donations are being used and the impact their philanthropy has on Ampleforth Abbey. Where the donor restricts the application of their donation, the gift is applied to the PUTpose originally intended. Gift Aid continues to be a meaningful way for donations to be enhanced and many donors choose to make a Gift Aid declaration, where they are UK taxpayers. The charity does not currently work with any commercial partners in fundraising. Where it works with data processors or professional fundrdisers it ensures that they meet and comply with GDPR r¢quirem¢nts, do not pass on any personal details to a third party and have the necessary privacy and security systems in place. The Ampleforth Abbey Trust is registered with the Fundraising Regulator. Its activity is compliant with the Codes of Conduct as instructed by the Fundraising Regulator and Chartered Institute of Fundraising. Looking to the future, the Trust has engaged the services of a fundraising consultant to develop a fundraising strategy and a clear case for support has been developed and approved by the board of tTUSte¢s to underpin futur¢ fundraising activity. The Abbey Trust will Work with Ampleforth Colleg¢ so as to ensure a co-ordinated approach ihat will benefit both Trusts. 13 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Conclusion 2023-24 has been a year of fundamental challenge. of realisation and of change. The Charity's work in responding to this challenge has at times been all consuming but the Charity is detennined to continue along its journey towards financial sustainability through the implementation of the Recovery Plan. Sustainability, however, is not just about finances, but about ensuring th¢ foundations are in place for us to continue our mission as expressed in our charitable objectives. It is only in being a vibrant community of faith at th¢ service of the Church and the world that th¢ monastery can attract the vocations on which its future depends as it strives to move forward ivith confidence, faith. hope and trust. Public benefit The Charities Act 2011 requires charities to demonstrate that they are for the public benefit. When planning activilies for the year the charity has considered the Charity Commission guidance on public benefit. The activities undertaken and the impact of these include- Pastoral work by the monks and lay staff, as well as within the parishes and dependent communities. Average Sunday Mass attendance across the parishes in Ampleforth, Brindlc, Easingwold, and Kirkbymoorside w'as almost 350. The ministries undertaken by Irolunteers are an essential component of the charity s public benefit, enabling the charity to fulfil its charitable objects. Financial figures of themselves do not account for or report on the significant amount of voluntarv ￿'ork undertaken at Ampleforth Abbey and on the parishes in fulfilling the principal charitable objectives. Outreach in some of the parishes includes involvement with a local Lendwithcare Scheme and foodbank initiatives" work carried out by a Ukrainian Support Group. 52 residential guided retreats, 28 residential self-led retreats. and 21 day groups. Since the re-opening of Alban Roe House the facility welcomed three school groups for day events (totalling l 13 people) and 9 residential school groups (totalling 314 people). The Easter Retreat 2024 was both an on-line and in-person event, Ivith just under 3 50 people attending in-person and a peak figure of just over 900 views online for the celebration of the Easter Vigil in the Abbey church. The Ampleforth Lourdes Pilgrimage in July 2024 had as its theme 'Come here in procession,. Jusl over 280 pilgrims travelled to Lourdes, including 37 assisled plI￿lMS, 7 designated carers, 7 doctors, 24 nurses, 12 chaplains, and over 150 helpers. 14 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Structure, Governance and Management Structure The Ampleforth Abbey Trust is governed by a Supplemental Deed dated 4 September 2019, which replaced the original Trust Deed dating back to 1944. The Articles of Association of The Ainpleforth Abbcy Trustees were incorporated on 8 June 1945 and amended by special resolutions dated 4 September ?019. The charity has one Trustee, The Ampleforth Abbey Trustees Limited. which is a company limited by guarantee (Company Number 396036). The directors of this trustee coTnpany who served during the period are shown on page 21 and are referred to as the trustees w'ithin this docuinent. The financial statements consolidate the results of two controlled charities: the St Benet's Trust (formerly responsible for St Benet's Hall in th¢ University of Oxford, dissolved as a company (no. 07684231) on 19 November 2024: and confinnalion received from the Charity Cominission on 5 December ?024 of th¢ charity"s removal from the Public Register of Charities): and the St Laurence Education Trust (responsible for Ampleforth College); and one subsidiary company Ampleforth Abbey Trading Limited, responsible for commercial activities. Further details on the operation of these entities can be found in their respective trusteclannual reports. Governance The charity is governed by a Board of the Trustee Company which meets forn]ally seiien times a year. The Board has established a number of fonnal committees, reviewed in December 2023, as indicated in the chart beloiv. Ampleforth Abbey Trust Safeguarding Committee Estates Committee Finance, Audit and Risk Committee Nominations and Governance Committee Investment Committee Safeguarding Panel Health and Safety Management Committee 15 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Key Committees Estates Committee Purpose: To advise and report to AAT on matters relating to the management and development of the real estate 0￿,ned by AAT. Health & Safety Committee Purpose: To oversee health and safety matters across the Abbey site and parishes, ensuring the health and safety policies. procedures and working practices of AAT are effective and that the Trust is compliant with any legal requirements relating to health and safety. Finance, Audit and Risk Committee Purpose: To adi'ise and report to the Trust on all financial matters, external and internal control and probity. the audit process for the Trust and the management of risk. Investment Committee Purpose: To report to and advise the Board on matters relating to investment policy and practice. Siifeguarding Committee Purpose: To scrutinise, advise and rewrt to the Board on the overall perforniance and effectiveness of safeguarding across the activities of the Ampleforth Abbey Trust, enabling th¢ trustees to discharge their duties in safeguarding. Siifeguarding Panel Purpose: To manage individual CaSe￿.0rk. and make recommendations to the Religious Superior, via the Safeguarding Comtnittee. in relation to the safeguarding arrangements for members of the monastic communit). about whom safeguarding concerns have been raised. The Panel will operate in accordance with procedures set out by th¢ Catholic Safeguarding Standards Agency. Nominations and Governance Committee Purpose: To advise and report to AAT on the recruitmenL appointment and induction of trustees and also, as and when required by AA T, of comm ittee members who are not trustees. Recruitment, Remuneration and Training of Trustees The appointment of trustees is the responsibility of the corwrate member of the charity, formed of the Conventual Chapter of Ampleforth Abbey. acting on the recommendation of a Noininations and Governance Committ¢e and folloiving a due diligence procedure designed to ensure the appropriateness of the appointments. Lay trustees serve alongside a number of monastic trustees and all trustees are appointed on the basis of th¢ skills that th¢v bring to the role of trustee. Th¢ Board currently comprises 6 monastic and 4 lay trustees, V¥'hich leaves up to two vacancies. Arrangements are being made to appoint new trustees to fill the current vacancies. 16 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Appropriate induction and on-going training for all trnstees and committee members, with a specific initial focus on trustee legal obligations under charity and company law, is arranged through th¢ Company Secretary and Clerk. During thc reporting period, no lay trustee received any remuneration from the Trust. Trustees who ar¢ members of the monastic community of Ampleforth did not receive any remuneration in the year from the charity but their living expenses are paid for through the Trust. Management In th¢ reporting period 202312024, the Trust's management structure Und¢￿ent significant change. For the first part of that period, the day-to-day management of the Trust's staff and activity was delegated by the trustees to the Chief Executive oificer and the Senior Executive Team comprising th¢ Chief Executive Officer. the Director of Finance and Eslates. the Director of Commercial and Operations, the Director of Safeguarding and Wellbeing, and the HR and Organisational Deiielopment Manager. Staffing rcductions and ￿tirementS meant that from l April 2024 a reduced leadership team Thas in place, comprising a Managing Director (fornicrly the Director of Finance and Estates), the Director of Safeguarding and Wellbeing (0.8FT from l January 2024) and the Director of Commercial and Operations. This was reduced still further in July ?0?4 when the Director of Commercial and Operations moved on after ten years Th'orking at Ampleforth Abbey. A General Manager was appointed and took up his role on l December ?0?4. The Managing Director ceased employment ￿'1th the Trust on 20 December 2024 and the Director of Safeguarding and Wellbeing became also Interim Managing Director. A n¢w Director of Safeguarding and Wellbeing commenced evnployment with the Trust on 20 January 2025. The Trust advertised and successfully interviewed for the post of Chief Executive Officer and the successful candidate commenced employment in that role on l February 2025. Risk Management The Clerk and Company S¢cretarv maintains a Strategic Risk Register and the Compliance Manager a Healih and Safety Operational Risk Register. The Strategic Risk Register is presenled to the Finance. Audit and Risk Committee with an accompanying commentary from the Clerk, on a quarterly basis. Risk5 are considered under the following headings: strategic. operational and financial. In addition, safeguarding risks on the Strategic Risk Register are revieTh"ed ¢i'ery six months by the Safeguarding Committee and a separate Health and Safety Operational Risk Register is reVIe￿.¢d every two months by the Health and Safety Management Committee. In th¢ reporting period the critical risks considered by the Committee have been, inler alia, strategic direction and alignment; financial recovery and executive restructuring; reputation and public perception. and new safeguarding-related allegations. Financial Summary Total income for the group dropped to £27.7m in 2023-2024. a decrease of14% from the previous year, when income had been bolstered by the sale of a large number of assets. Donations and legacies stood at £? 18m, an increase of 500/0 compared to the previous year (2022-2023: £1. I m). The charity continu¢s to rely on the generosity of donor5, Wlthout whose support many of th¢ developments reported here i*'ould not hai'e been possible. 17 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Income / Expenditure / Donations [f igures in £m] 35 30 25 20 15 io 2019-2020 2020-2021 2021-2022 2022-2023 2023-2024 Income • Expenditure ll Donationsllegacies Investment Policy The majority of investments are held w'ith Sarasin & Partners LLP. The investment policy which applied during th¢ reporting period seeks to obtain a return of between 2-30/0 in excess of the Retail Price Index over a rolling five-year period. The first nine months of 2023-24 were a challenging period financially and the investment portfolio did not perform well. with a total ￿tUrn (capital and income) of -13.5 % against a benchmark of - l 0.3 /0. Hov¥'cver, perforniance ￿"aS ahead of the current estimate for the ARC Steady Grow'th Charity Peer Group. Income generation during the reporting period remained robust despite capital volatility and has been enhanced by sterling's decline. As part of the separation of the Abbey and College, the investment portfolios of each have been clearly segregated and the Abbey has established is own Endowment Investment Policy. approved by trustees in January 2023. Reserves Policy The charity aims to increase its free reserves to a level equivalent to betwieen six and nine months of operating costs and this policy is monitored and reviewed annuall).. As at 31 August ?0?4 six months equated to £3m. This level has been set in order to: Fund general Working capital Cov¢r unforeseen emergencies or other unexpccted expenses or liabilities. Fund shortfalls in income, if income does not reach expected levels. The charity is very reliant on both donations and school fee income (allowing the school to pay a rent to the Abbey) and are vulnerable if there is a sudden or unforeseen decline in either of these. Unrestricted fundraising income is especially difficult to predict and is inevitably subject to fluctuation. A period of six to nine months has been chosen: 18 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 due to the size of the estate, age of the buildings and the risk of unforeseen substantial maintenance costs to support the monastic community which is reliant on donations and from surpluses from the various other works. The consolidated unrestricted reserves at 31 August ?0?4 were £60.2m. This figure is inclusive of £31 .9m of fixed assets, the majority of which are essential for the charity to operate or have been realised post year end. If the nct book value of such unrcstricted assets is excluded from the calculation of free reserves, this gives a net surplus of £28.3m. Restricted funds at 31 August 2024 wer¢ £3.5m and endowed funds were £3.4m. Details of these funds are given in notes 16 and 17. 19 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Reference and Administrntive Details Trust status Charitable Trust Trustee The Ampleforth Abbey Trustees (a Company limited by guarantee and not having a share capital) Registered address Ampleforth Abbey York North Yorkshire Y062 4EY Registered number of the charity 1026493 Auditors Saffery LLP 10 Wellington Place Leeds LSI 4AP Principal Solicitors Wrigleys 3, Floor 3 Wellington Place Leeds LSI 4AP Milners Whitehall Waterfront 2 Riverside Way Leeds LSI 4EH Bankers Barclays Bank plc 1- 3 Parliament Street York YOI 8SE Investment managers Sarasin & Partners LLP Juxon House, 100 St Paul's Churchyard London EC4M 8BU 20 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Reference and administrative details (continued) Insurance Brokers PIB Insurance Brokers Poppleton Grange Low Poppleton Lane York Y026 6GZ Directors of The Amplefortb Abbey Trustees Limited: Reverend Wulstan Peterburs (appointed Chair on 19 October 2023) Mr Phillip Noyes (Vice-chair, Chair of the Safeguarding Committee) Mr Nicholas Barran (appointed on 19 April 2024, Chair of the Investment Committee) Reverend Chad Boulton (resigned on 9 December ?0?4) Reverend KeN'in Hayd¢n (resigned on 8 October 2023) Right Reverend Robert Igo Reverend Bede Leach Reverend Oswald McBride (appointed on I l March 2024) Reiierend Cedd Mannion Reverend Kieran Monahan (appointed on I l March 2024) Ms June Patricia Mulro! (Chair of Trustees, resigned on 19 October ?0?3} Mr Charles Edward Perry (resigned on l February 2025. Chair of the Estates Committee) Ms Joanna Clare Taylor-smith (Chair of th¢ Finance, Audit and Risk Committee) OITicers and kev management personnel: Right Reverend Robert Igo - Abbot of Ainpl¢forth Abbey Ms Jenny Share - Chief Executive Officer (ceased employment on 31 March 2024) Mr Jim Hopkinson- Director of Safeguarding and Wellbeing, and also Interim Managing Director from 20 December ?0?4 Mr Tom Kell!- Director of Safeguarding and Wellbeing (with effect from 20 January •O?5) Mr Paul Davies- Director of Finance and Estates until J l March 2024 and Managing Director from I April 2024 (ceas¢d ¢mploym¢nt on 20 December ?0?4) Mr Andrew Slingsby - Director of Commercial and Operations (ceased employment on 31 July 2024) Mr Edward Pery - Chief Executive Officer (with effect from l February 2025) Company secretary Mr Liam Kelly Approved by the Trustee on 3 April 2025 and signed on its behalf by Joanna Taylor-smith Director of the Trustee company 21 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Statemenl o Truslees, Res onsibililies The Trustee is responsible for preparing ihe Trustee's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustee to prepare financial statements for each financial year which giv¢ a true and fair view of the State of affairs of the charity and the group and of the incoming resources and application of resources of the charity and the ￿0Up for that period. In preparing these financial statements. the Trustee is required to: select suitable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP (FRS102) make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Thc Trustee is responsibl¢ for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 201 I, applicable accounting regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustee is responsible for the maintenance and integrity of the charity and financial inforn)ation included on the charity s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 22 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Ampleforth Abbey Trust Inde endenl Auditor's Re ort to the Trustee Opinion We have audited the financial statements of Ampleforth Abbey Trust (the 'parent charity,) and its subsidiaries (the "group,) for the year ended 31 August 2024 which comprise statement of financial activities, the balance sheet and the cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting frameivork that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards. including Financial R¢porting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the group and parent charity's affairs as at 31 August 2024 and of the group's and the parent charity s incoming resources and application of resources for the year then ended have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance ￿'1th the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustee's 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 group or the parent charity'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 trnstees with respect to going concern are described in the relevant sections of this report. Other information The Trustee is responsible for the other inforniation. The other infonnation comprises the inforniation included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other infonnation and, except to the extent otherwise explicitlv stated in our report. we do not express any forn] of assurance conclusion thereon. 23 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Our responsibility is to read the other inforn]ation and, in doing so, consider whether the other information is materially inconsistent with th¢ financial statements or our knowledge obtained in the course of the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detern]ine whether this gives ris¢ to a material misstatement in the financial statements themselN'es. If, based on the work we have perforn]ed, Ive conclude that there is a material misstatement of this other inforn)ation' we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the inforniation given in the Trustee's Annual Report is inconsistent in any material respect with the financial statements: or the parent charit! has not kept sufficient accounting records; or the parent charity's financial statements are not in agreement with the accounting records and returns; or wc have not received all the information and explanations we ￿qUIre for our audit. Responsibilities of Trustee As explained more fully in th¢ Trustee s Responsibilities Statement set out on page 22, the Trustee is 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 Trustee determines is necessary to enable the preparation of financial statements that are free from material misstatemenL whether due lo fraud or error. In preparing the financial statements, the Trustee is responsible for assessing the gr()up and the parent charity's ability to continue as a going concern, disclosing, as applicable. matters related to going conccm and using the going concern basis of accounting unless the Trustee either intends to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so. 24 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 Auditors, responsibilities for the audit of the fillaneial statements We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act. Our obj¢ctives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurdnce 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, indiiridually or in th¢ aggregate, they could reasonably be expected to influence th¢ economic decisions of users taken on the basis of these financial stalements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedurcs in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting I￿¢gularItIcs, including fraud are detailed below. Identifying and assessing risks related to irregularities- We assessed the susceptibility of the group and parent charity's financial statements to material misstatement and how fraud might occur, including through discussions N'ith the Trustee, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the group and parent charity. by discussions with Trustee, and updating our understanding of the sectors in which the group and parent charity operate. Laws and regulations of direct significance in the context of the group and parent charity include th¢ Charities Act 201 I, the Charities (Accounts and Reports) Regulations 2008 and guidance issued by the Charity Commission for England and Wales. Laws and regulations of indirect significant include those relating to St Laurence Education TrusL where the consequences of non-compliance would have a material effect on amounts or disclosures in the financial statements through significant fine, litigation or restrictions on operations. We identified the most significant laivs and regulations to be the Independent School Standards as found in the Education and Skills Act ?008 and guidance issued by the Department for Education. Audit response to risks identifi¢d- We considered the extent of compliance with these laws and regulations as part of our audit procedures on ihe related financial statement items including a review of financial statement disclosures. We reviewed the parent charity's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the parent charity's policies and procedures for compliance with laws and regulations with members of management responsible for compliance. During the planning meeting with the audit team. the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knolwledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls bv testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the norn]al course of business. Il'e assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audil. the engagement partner's review included 25 Ampleforth Abbe) l-rust Trustccs, rcport and financial statcincnts 31 Augusl 2024 ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described aboiie and the further removed non- compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely w'e ￿-oUld become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example. forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. ￿.￿￿..frc.0r -uklauditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the parent charity's Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the parent charity Trustee those matters we are required to state to them in an auditor's report and for no other purpose. To ihe fullest extent perniitied by law, we do not accept or assume responsibility to anyone other than the parent charity and the parent charity's Trustee as a body, for our audit work, for this reporL or for the opinions we have fornied. [.(F* LLe Saffery LLP Chartered Accountants Statutory Auditors l O Wellington Place Leeds LSI 4AP Date: 26 June 2025 Saffery LLP is eligible to act as an auditor in tern]s of section 1212 of the Companies Act 2006 26 ATrwleforfhAbbty Trmsi CONSOLIDATED SialcmeDt ol fiN4n¢ial i￿1vItieS /ory¢or ¢ndedJlsiAtrgus12024 3JsiAllg7Ltt 2D24 3024 2024 2024 2024 2023 Ch*ritthble wetivilio¥ Schoots income Parish Community i￿0￿¢ Hospitdity I￿ame OthtT illLYJtnE 13,638 322 710 410 742 13.879 447 420 363 650 322 710 410 274 Othertradiog activiii Non aTr¢illary ITading irtcc4ne Oih¢raCis￿ttCS 553 553 403 867 123 ]nveskn¢nt income GiftAid DoDaljOII Bank aftd OiherimcT¢5r 4?4 27 95 546 A44 528 445 Don•¢iohs Aod Icellci Don￿(0￿$ and kg4ctes 1949 2.179 Other itteorninE rcsourtos Profit saieof fixed llsscts 7.728 7.728 13558 Tothl ineothe 95 27.759 32.283 Expudilurt un- R8L%inK funds Non aDc¢llary Irath"ng Furtthaising & d¢velowt 482 482 738 4r2 Chllritable*¢tivltlos S¢hool$ Parish Community Hospiiality Othcr 14.978 15.643 I6.￿0 3.089 264 2248 3.835 160 65 264 1.314 to ¢knitie Dispoyl ofdefined ptnsion 5¢hAlle 656 2¢.214 1)38 11.551 23.245 Tvi¥l rAp¢ndliu 211.fj56 l?38 U034 27 AhylcfvrthAbbey Tr￿1 rritrfÉe'Srepth*th￿fwnClt71slUlt￿CnI￿ 31s1Avp￿ 2024 CONSOLIDAIED Stattmellt of financial activitÈu(cwiliThucd) for ye*r eDded 3151 August2024 2024 2024 2021 2024 TDE 2023 Trytd £wo trA)o NEt IncomEDg op¢rnttOOS llcforc trdllSfers JtllJ inv¢stsn¢lli gain5 4?96 95 &725 8JOO 4.396 l234 95 5.725 4,31 Other rttogthiscd gains and lou Ne¢ gwn5 on invesirttni assets 325 1245) Net pThctsnt 5.173 1298 420 6,891 8.055 Peusi¢M schetne tharial gatos Tr#n5fe 17 2.419 (2.4191 Net movomertts ltt (unds 6.191 8.055 Fund balantt5 i¥￿sht fornrdBt lstSqptomber2023 4S.747 4516 53,339 45.284 Fund balRn£es cxrrtcd fir4vard at 3AJt A¥suJt2024 53.339 3.46S 3.4 60.230 53 J39 TheClwityh35 00 rccogTri5ed 8atns orl¢wes othwth•tt its swpbjs forth¢ year. Th¢ M1¢5 onpagcs 3J to 63 fonn pllrtof the5c 28 AMPLEFnRTH ￿RA￿v TRU 315¢A￿￿51 2024 forJeurended31siAu8us12024 2024 2024 2024 rt¥ 2C123 T￿( eo C4) Cbaritsbl¢ activitles Schools- r¢nlal ¢tArge Pirish income Community income Hospiiatity income Clherincom¢ 262 447 420 363 246 322 322 710 710 410 274 274 lThvestmeThts Inve51men( income Gift Aid Donalion Bink4nd otherinlerest 3b 3b 3b 4Y 140 302 27 546 140 302 444 292 Donatiiin5 And Iytl Donaiion$ and leBHcics 4b 205 963 735 Oiher incomitsg reiourc PFof*t an of fix￿ a55rts 7.n8 13.553 Tothl itKome 9.919 1586 95 11.6 17,092 Expenditurc Do". Ch&ritAbl¢ •e¢ivities PaTi5h Communily Hospitality Other Donations lo connected cbdrilie5 Disposal of&fined pension sGhunE Loss on disposal of fixed a55ets 289 3J35 3.089 264 I.1 492 3.089 264 2241 364 2265 32S 656 781 7J30 Totsl expobditure 5.728 781 6J09 7.J30 AotpleforihAbhy fr￿1 Truttee'J repori ANIPLE$ORTh AXBEY Tlliiyr S*lltomeTri orrifrgneial Jctiviti•s fvr)rurvthd31JiAyi2024 31sfA 2024 2024 2024 R￿rIOSe of the T[￿St aTe creth*d to UDt¢st[￿1ed fuDds. Tbe Ttust ￿aY at ￿ thscrebon set aside fi￿d5 S￿c]fiC purposes as desi￿ated fi￿dS %vTruch wou]d othenvise fomipan of the genet3] reseTr"es of the Tn￿L Donations subject to ¥Kcific M75hes of the don0￿ ate cred]"led to Teleiwrt te5triLted fiuLd5. Otto <￿(￿wed f￿d5 the atnounl Is iequirAq to be held as pet]nanent cap11￿. Gifts in kind ar¢ ¢Siimaied ai th¢ op¢n mayk'et ialu¢ ¥1 Il** of th¢ pft Other ujcome Income Is recogn15ed 1s.hen the chanty. has entItle￿ent to the funds. any perfontwKe comtirlo￿S a[racl￿d tothe inco]ne hair iwj It￿. il is probable that the income %vill k receii'ed and the amollnt can ￿ measured ieli3bl%. InC0￿e from Commercial actiiilie5 Is recog115ed LA eatned. Jm'e5tsnEnl uK(xne 15 TecowJ15ed tecai?bl¢ b&&is Other ￿cOme Is ciediled to the Statement of Financia] ACti￿oeS It f3Jls dlle Expendi￿re ExpenditUTe Is recog]Ised is'hen 3 liability Is consideTed probable_ thscowited io present i.aiue for longe[-ter￿ll3bI1iIle5. ExpenditUTe 15 5u]nmansed under fi]nCtion313Cti￿ry head￿gS eithei on 3 threci cost basis. LY lor ￿'e[head and sutv)rt costs. app)nioned accorthng to a nun1￿[ of ei?Iu3tioii crii¢ria Th¢5¢ In¢lud¢ aiborption based wx)n flixy spa￿. staff. ¢Slima*s of actual ¢4)hSWllOi0rt and lim¢ Im IISC Governance costs relate lo costs assLKl3ted Iiith the CoDStttllb￿d a[￿ statsrtoD" requiTeDLeDts of the ch3nty' 3Dd include aud]t fees InleTest chatges are all(￿ated to the functional actiliry that the). relate to. FiD&Dcial instrnments The Trust on]y has financ13] 3S5ets and finallC￿ Iiabilitt reD)uneratson or ieiDJbutsement of ex￿1]S￿ for dieir servl¢¢S. Th¢ aYerag¢ numixr of ￿r50￿$ employed drring th¢ w¢gr t4&% 26712023 ?691. The numbeT of staff earniDg ￿ excess of £60.fxK) peT annufftiyas as foll￿1.5". C"CJRFdth¢d 2Q24 14 7in.¥1 2024 ?n23 ?fj25 £ 60.0￿- £ 70.0 £ 70.001- £ 80.OfK) £ 80,001 £ 90.0(x) £ 90.001 £110.000 £110.001 £120.000 £140.001- £160.000 £200.000- £220.￿0 C￿ the aboNE 161•02.3 51 weTe TenTeThenl be￿¢fitS undeT the"leachEt5' Pension Defined Benefi15 Scherne and nil120?.3" nil) undeT defined conthblltson schemes The 3mouDt payable to defined CODmbutson schetDes these JnetnbeTS of stsff lias £26.077 12022". ll2.113) 45 Abbry JlstAwxi2024 NLTIO 10 71thÈiirft u*¢ts C•D5olhlatsd Buildv C•51 SS.940 953 162 1.9i5 217 5&99) 3.124 Addirion5 Dispw15 31stAvyJ5t2024 51.317 162 2m8 61.766 At¢w¢Trvllllwl d¢pTtti41iO Bjljnce at lsiSEwtsnbETX123 ChuE¢ torth¢y Dwds 26.717 1.751 152 1224 137 55 28.105 1918 BJlw*¢M 31siAu8wt ZQ24 28J47 13 29.817 E¢ AI jIMA￿s￿S¢ 2024 30240 782 31.949 31* AyB¥M2023 29223 149 30185 PY￿￿1¥[1￿1¥￿l th6 grrR5102. Flowuwr, thETI￿tEE tCCQEW5E5 i51&ety dItTe￿￿E b¢twvn vthE mJtkdv41￿ Tht td., 5¥ ih¥ ￿le[a￿l ￿1¢ irecuttendy &rQ75m hrnotu. All fixed asÉets ￿thold sth11th￿l5p￿0[thEirX¢Ivi￿ a%fets l*ldwnwllyk¥th¢w¢thrnl¢r noi btth dyi* 3JttAv¢uSi￿j4 IQ Tlncible a55ets (¢l•ihw b Tr¥¢ r Iw¢m¢nts Fr¢¢lJold ￿ let75eht Cujr Ince at31sr Aw512023 Addi(ion5 Disposals 953 56.656 1381 1213 r24 B41atLtt Qt31st 20Z4 929 95i 58.689 Ae¢umthhttd depreriaii4r¢ aiance *315rA￿u￿2 Cb2fE¢ fortht year D￿P￿￿3& 26.IrJ 1.697 423 65 24747 1.761 Balartce at31st Auwt1014 27.719 28J03 Net boDk¥*h At 31#AuRust1024 519 30.315 31#AugvstZOZi 28.681 102 426 typroacTL15C4￿slS￿*iIb th¢ ￿4￿￿￿￿OfF￿510Z Howcver. U*Truth¢ F¢¢W￿$¢5 thJrihuT is lfretyto tyAi#ieithff¢r¢ne¢b￿￿ll thr TAIME. ThB build￿￿5 Mth¢ SI￿ llr¢ Udsured fttQ75tsL*ttdthEP￿h￿w.l￿ fw£20uL b•s rt4rts¢￿ ￿￿ated. 47 W¢lorftAb&¢yTrnsi 31siAoguxi2Q24 Nolrs {cwth&TOJ 11 Flxed #ssrtittTHINbcrts 2024 202J jo 2034 goo 2023 BBIJAR Bt IstS9knthr2023 15.658 5.157 15.758 5.957 14.218 (Il013) 12.U)I 13.J99 14311 13.199 P.153) D￿P￿al5 (2,123) 1.100 R￿UatIon 12451 (Z45) Ma￿'¢t¥S1￿ ¥31￿A￿l￿12024 16 15ffiS8 169J6 15.758 Hi5tori¢alMM•¢ 3111 Ay420?4 15.262 4.412 IS,3G? 4.582 2Q24 2023 21124 2tr23 rnrst 100 16,619 Mnooged Fu*& BATA shire5 16,689 ITh￿51￿￿15 withc￿￿ 63 63 6J 51 IAS06 15.051 16.906 15.758 Th¢ Ampl¢forth AbbeyTnL#OWDS IcrfrA ofth¢is%uEdsbare¢•Fiul tsfATh**¥thAbb¢yTAdw£ L4uNty* Waks. 2024 302J 2024 20 3atasin fvudda5S A INC ta5￿ ItUPoiu*&Cupui&￿ Bwd- I Illc 4.l•J 4,14J 295 29S 12 Stoc 2023 2024 2023 Goods ftrt¢sale Other 124 154 JIsiAiffjJsi2024 No￿ (¢OMlfft*dJ 13 D¢btorJ 1024 2023 2024 202J £TrJo TTr&e dEIAor5 545 545 537 132 47 270 7024 X12J 2074 202J Bnrtk. TradE c¢¢dii* Amrthi du2 to suTr6idiwy Fees (rc¢i¥¢d ￿ advan¢oofientt ConGmwiou rrts Cojnpjiirion fecs(fres ￿ •h-4rt<%hErnpI A¢coJal$ 679 41 334 45 1411 iii 475. 361 215 40 io Purthas¢ other ¢%rdsi 512 95 5.150 4.756 1.227 1.289 will b¢r¢payabk •5 follo￿. 3024 2023 2014 202J TnL Withio l Within I to2 143 307 319 3J th¢r 5 y¢ 7S7 2024 2023 2024 2023 OD CLry05iibJn fees a5 5Jllo Tntti l y Within I102y¢ars WiihÉn2 to 5 y¢¥$ 419 4.450 475 44 47 91 4.189 135 49 eforihAbbtyTr￿I 31JiAMbvth 2034 N•t¥ (cop•M¢4 2023 Trnsi e at SrythtlllZ3 N¢w ¢oDtyB￿s R¢p•ytnents 834 4.575 1.145 1520) 4.889 31s¢ Awl 2024 934 IS CrEdi1O￿. Wty¢4r 2024 2023 3024 £wo 202J T￿￿1 io 540 fee 4.497 91 910 Trrferj 314ug-25 3l-Allg-14 to SChol￿5￿1p and butWiES 419 44 Th¢ Mii¢s Wri5￿ Burszy Ill9 749 2￿1 1976 325 3.425 AniplvfjiJrthAhhery" 3Jsi_4ugusi 2024 Note5 (conlipiu¥dJ 16 Endowment fund$ Th¢ p¢nnan¢nt ¢ndowm¢ni fwith ar¢ ¢sthlished 10 mak¢ Wlision oui ofincome for xho1*shi￿ bww¢s Th¢ Mil¢$ Wnghi Bwsan, and the BTUnO Bursary are both lo pro￿de biirkine5 for 5hM4enls I%th0 ii'ould [the￿￿5e noi be able io attend Ampleforth Colle¥ie Lapital should not be applied for die pro￿510￿ of bursanes unless the fi]nd Is ujsufficieni to proiide wortbmluk butS3ne5 ￿l$kn￿l resott to Capj￿. The B￿￿0 Bursary Is to tillid on] bursaries of km'een 85_IOO:..' of leeb togethei with reLated extras Tr&JJ.ffer. co￿￿ra1]ye Consolidated ind Trnst Jmwsinjeni gi7111S a￿lIVI￿rts￿ Bola*Jcg ai Sl-Aug-25 £'o(h) S1-Aug-22 £x)00 Penh*ttent enJo￿the￿I Scholatship and bursaties 416 405 416 405 Expend*ble ettdowmetst The Miles Wright Bursary The B[L￿o BI￿Sa￿. 1_820 736 79 32 (471 1.852 749 166) ?,601 2.97) -I,(K)6 17 Re$iri¢ted Fund$ 3J-Aug-23 3J-Atig-24 £'o(K) Consolidated £Y)00 AMpl¢f￿¢h Hospiialil¢ of (Xtr l.ady of L(wd¢s ia) Pemianenl endowment fi]nds ￿cO￿le accouDts Ib) The Miles Wnghl ButsaTr resmcted fund Icl 'I"he BTUnO Biir5ary re51ncted fund Icl Mission fu￿￿$ Id) Bllrsary f￿d lel War memonal tund [n Si Benel'b Hall haTdship fund Ig) Sl Benet's Hall othei Ihl Mon3Stery tund lil MoiMstepy Teh￿iShMent fL￿d 01 Abbe) Churrlblextending Ampleforth Welcome Ikl G¢n¢ral Listed Places of Il'orship r(x)f rev3￿ fiJDdill Teacliing schools and school Improvefflent lrnl Si Laurence Educalion"Iru51 fuDd Inl Maria￿ Gard¢n lo} Other (pl SlewaTdship Ill H151orir En¥land151 343 144 140 78 ?74 12W} 328 149 89 725 1931 3?) 1309 10 28 274 40 40 80 95 95 80 491 39 205 1_65i 831 12.4191 30 30 B911) Men)0[￿ lul Cricket Nets INI ban Roe House Iwl K¢an¢ l.¢ggcy Ixl Gt3nt tOW3rds bllrsaries (yl tknnations to￿.3[d5 bursanes Izl Research and development (Jal Scholarship Bwsan¢s jab) Legac￿ (gcl 204 78 78 140 160 34 457 457 1941 4.586 2.572 IlJ38 12.4191 Nu¢r5 17 Rtstricttd f4wJ5 {￿ Illl CJi(kci Nrts lyl 204 3149 1.68S (9591 117) 27 4,J56 BdsTur¢ Jl.A*24 Jl-At4Tr23 knpl¢forth H05wiiliteofowLadyofLoLtrdts (*) Pemahertt eftdoiymcrf hndsinccqne E￿O￿nts{b) Th¢ Milcs W[￿llEBuT51ry lesth￿¢d fvndlc) Th¢ Biuno BL￿$￿ty￿s￿￿ (£1 Mwion fvadsldl Burs¥y fvndl¢l W¥mernL¥i81 Si BoAerfgHJil hardthip W( 5¢ B¢n¢e5 Hall ¢￿t￿r(b} m￿lstory fij￿1 {1} 312 274 326 149 194 712 322 (3091 IlQ31 715 io 391 C¢rt¢Tlll L￿rrry L45f%d P¢4GW O) 491 39 Mari•n G•wth(•) Other Its54 (651 (2.4201 30 Alb￿ Roe HouEelw) Lew(x) 12 4,0)2 1.586 $11 (2.4201 3.051 The ste￿￿d$biP used io t¢bJtbi51LAUon ROE HLW.whp* was c¢4npieitd In MatL*ZVZ4 ¥lll+yoedto the 52 AwplrforthAbbey Tr￿$* N•te5 fcDJillmrtdJ jJsiAuTr￿i10j4 17 Reslritled fwids TrusitDmpArxtiYe fyurt5 31-Ay-22 314tQ-23 knpl¢forth Hosp1[￿kn ofoLYL4dyofLowdcs laj Pe￿￿￿C￿l irKQtne4c¢wnfS(bl Thc Mile5 Wrisht But5llry tESttiEwi 1¢) Tr BUt￿ry ￿7c*d (UThJ (GI Mi%sion thnds{d) Bursary (¢1 W*rmEwKrfiDi fiwd (Q StBetsei'5 Hall har&hip fulld(A) 5tBetyei's HAII dtherlhl Nlonastery fond(yl Mana5ttry refu￿1$h￿E￿ AbbeychurcWtX￿IireAthplCknh GenEt41 Htrit4e Lots¢ryFund grant L￿tEd P*e5 0rwtythlpR￿f￿¥r fvrtd(t) TExhings¢hools kndxhoDI Sr L3urertte Edu￿[(￿TrA5￿ ffi￿d (m) M4rilla Garden (•} Olher(pl SwJrdship (r) IfjsioticEnBlind{sl S¢r*i¢ Plallli) M¢T•Jriil(¥l 374 131 167 246 (2781 341 {41 170 7B 712 IQ3 354 40 {4) 9) 554 447 (2 15 95 491 491 224 1.075 1ffj53 ljii (8111 4.601 SGhotstthip5 andtntrsarics. knirsnryayeat_ Rl TheSI Benevs hardqtup rs forknsw•fJtu&llts *Sr B¢D&s Il*lL bl The St BeTrJUS SULinertts¢TiEtrI fuad& r) Smvardship ttLiwsio4 donation recc￿edt0 J) Htsiortc EnEknrf rtlftics iDaBrntle£ei￿I ￿ eOntnbut¢ toward5 IIK co5rollk Ai*rtymolrt tl Styatcgic PIJA fi￿d t¢fa¢cs ro a dooatiortto this5p￿￿¢￿0￿ u) DuJidl1v￿tU Mo￿tiG 5t¥di VI crick# a( Arnpletsth COD¥ ) foknlp uykccy ¥fh114MI Rus Hou5 xl ￿suPPo[l ADd of Atlry yl D￿￿0￿10 SUPPOry AWcfotthLollcse rAty581 zl Donaiionts sknpport A5rokfwthColleBt Imtrs lal Dowionts support tese*¢b alldd¢vclopwMt abl D(￿lOn10 swwknpkknb CoUElle bjrsw eforthAbbeyfrwl TrwJ¢e'J repay0￿￿￿1￿cl￿ls￿ltAIe￿7ts JlslAwKuJiz014 18 DtSStThgl¢d IKIwiuJ¢M. 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Boi . r¢NTh thi pkn 4SSE . Aclu￿ r¢iurnl¢ss reuwaorspkn¥sds lThiereston peDSiQTr knibiliries 11277) 1119) {681 48 . surplus N¢t 14bil1ty ofy¢Ar 454 ) AJn{w￿ts fw prevlws fwryt•rS •FE fDUTh 3924 Z3 20 Z021 2030 418) 1466 )36) 1316 (3.J75) 3.8S8 .44Z) 3351 19 454 Swplv51lD¢fi¢it) 168} 121 123 (ijn) (1.071) S24 Th¢ knpl¢foAhAbbtyTrus¢kn r¢¢vioush wyytded dEN￿1￿￿e￿a￿￿ov¢rW￿th¢s ¥*itha Yalue £l.l fcl 10¢ Th¢Amplelorlli AbbtyTrust Mow Pur¢htse&h The compary4￿¥ 0￿¢￿¢$ adcfthed CORti1￿1￿ fcf othwsruffWby ff5 subsikn. a&nioi#