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2025-08-31-accounts

Ampleforth Abbey Trust

Annual Report and Financial Statements Year Ended 31 August 2025

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Introduction from the Chair of Trustees

Although we cannot ignore the scale and complexity of the challenges the Trust has faced in recent years, I think we can say that a corner has been turned. We published a five-year Strategic Plan in 2022 and a Recovery Plan shortly afterwards, and I am pleased to say that the initiatives set out in those Plans are beginning to bear fruit. In last year’s Report, we highlighted the need for Sustainability - the means by which we can ensure the future of the monastic community and its works. This year, we want to focus on growth.

There will be many challenges ahead, but the experience of the past year has clearly demonstrated that Ampleforth Abbey has something to offer in today’s chaotic world: a place for yourself, a space to think, time to reflect, hope, joy and wonder. And it is this unique offering - shared and appreciated by so many people who have visited us recently - that gives us the confidence to look round the corner and embark on the next stage of our journey.

I would like to place on record my sincere gratitude to fellow trustees, to the members of the Trust’s Executive, and to all our staff and volunteers whose enthusiastic support and loyalty is a continuous source of encouragement in planning for the future.

A year ago, the particular context in which the Trust was working presented significant challenges, in particular how to develop and take on projects and initiatives while managing the needs and constraints of a smaller organisation. As a board we would acknowledge that the first few steps were somewhat faltering.

But in recent months we have taken a step back, re-visited the Strategic Plan 2022-2026 and re-aligned our path to growth in accordance with the objectives of that Plan: Affirming Our Identity, Demonstrating our Safeguarding Commitment, Enhancing our Offering for Guests, Aligning and Optimising our Commercial Activity, Making our Estate work for us, and Renewing the Invitation to join our Community of Support.

This report highlights the strategic developments in these different areas of our works, all linked by the ministry of hospitality, part of our unique offering at Ampleforth Abbey. To quote the words of Pope Francis: “In this era, in which people are so busy that they do not have enough time to listen to God’s voice, your monasteries and your convents become as oases, where men and women of every age, origin, culture and religion can discover the beauty of silence and rediscover themselves, in harmony with creation, allowing God to re-establish just order in their life. The Benedictine monasteries — whether in cities or far from them — are places of prayer and welcome. Your establishment is also important for the people who come searching for you. Christ is present in this encounter: he is present in the monk, in the pilgrim, in the needy.” (Address to the Friars of the Benedictine Confederation, 19 April 2018).

It is in facilitating this encounter in a variety of ways that our future growth lies.

Fr Wulstan Peterburs OSB Chair of Trustees

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Contents

02 Introduction from the Chair of Trustees

04 Objects of the Charity

15 Public Benefit

16 Structure, Governance and Management

26 Statement of financial activities

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

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 are engaged in a variety of works, including the maintenance of the monastic Community and its property, the welcoming of guests, education and parish work in dioceses of the Roman Catholic Church.

The 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 Benedict.

We firmly 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 Eucharist, lectio 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, Conversatio morum 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 whom we meet and serve. Learning from their experience we seek to establish a place of faith and prayer whose doors are open to everyone to share 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.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Trustee’s Report

The board of trustees (who are the Directors of the Trustee company) meets formally seven times a year, with one day set aside as an opportunity for the board to have a ‘Strategic Day’ outside of the normal business of the board. An efficient hybrid-meeting system is available and effective, with some people present in-person and others participating remotely, there has been a gradual return to the majority of meetings being in-person. The level of discussion, challenge and scrutiny remains high. Regular trustee training is provided.

In the course of the reporting period, the Chair of the Nominations and Governance Committee led a Board Effectiveness Review, the findings of which were presented to the board in November 2024. A Board Effectiveness Review will be undertaken every three years.

In April 2025 it was agreed that a Committee Effectiveness Review would be undertaken, including consultation with all members of the Trust’s committees (Finance, Audit and Risk Committee, Estates Committee, Investment Committee, Safeguarding Committee, Safeguarding Panel, and Health and Safety Management Committee). This Review is being undertaken by the Chair of the Nominations and Governance Committee and will report to that Committee in Autumn 2025, and recommendations will then be made to the board of Ampleforth Abbey Trust in November 2025.

Strategic Report

The 5-year Strategic Plan Choosing a Future Together, approved by the board of trustees in January 2022, has been an indispensable resource and fundamental point of reference in enabling the Trust to steer a course through the challenges of the reporting period. From 1 February 2025, reports submitted to the board by the new Chief Executive Officer provided trustees with a clear analysis of progress against those objectives.

Objective 1: Affirm Our Identity

Communication and transparency are at the heart of every good organisation and good organisations are those where people feel they share a common purpose and goal. To that end, one of the first goals of this Objective has been to strengthen and nurture the partnerships between members of the monastic community and lay staff and volunteers. Highlights include Hospitality Formation sessions bringing together monks, lay staff and volunteers to share views on how to develop the future guest experience at Ampleforth Abbey; joint celebrations on important feasts in the year; and regular staff briefings from the Chief Executive Officer.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

It is on this solid foundation of unity in a common purpose that the Executive has been able to work with external film, branding and marketing communications agencies to develop a brand design concept which will be used to present a simple, clean, modern and image-led concept projecting a powerful and professional image to all guests, visitors and potential donors.

Objective 2: Demonstrate Our Safeguarding Commitment

Keeping people safe is at the heart of everything we do, and we are committed to providing the highest standards of safeguarding for children and adults at risk.

Within this Objective the following high-level actions are identified:

As noted in the 2024 Annual Safeguarding Report submitted to and approved by trustees, this has been a year of consolidation alongside new works for Ampleforth Abbey Trust. This was reflected in the Trust’s safeguarding activity, maintaining a safeguarding focus on existing priorities while developing additional safeguarding priorities associated with the opening of Alban Roe House, a new Visitor Centre, and the resultant increased site footfall.

In July 2024, the Charity Commission closed down the joint inquiry opened into the Ampleforth Abbey Trust and the St Laurence Education Trust in November 2016. In the conclusion of its report, the Commission noted: “Changes to safeguarding practice are now embedded across and throughout AAT, and there is now a professional culture adopted in the way in which safeguarding incidents are managed and addressed. AAT has benefitted from the recruitment of new and expert safeguarding trustees, new executive leadership and the appointment of experienced safeguarding personnel to manage safeguarding operations. AAT now has the foundations in place to ensure safeguarding is carried out effectively and the right personnel are in place to lead AAT in building on those foundations”.

A number of key foundational elements are in place and reviewed regularly to enable the Trust to continue its important safeguarding work, ensuring it aligns with statutory requirements and best practice.

Our Safeguarding Commitment is 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 Commitment includes assurance that “When safeguarding concerns are identified we follow robust procedures which include reporting safeguarding concerns to the local authority as if mandatory reporting were in place and removing people (monastic and lay) from the Abbey site as a precautionary measure”.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Our Safeguarding Commitment also includes clear commitments to our ongoing important work with survivors of abuse “We offer a heartfelt and honest apology, reparation and, as they wish, support to survivors and victims who have experienced abuse by monks, staff or volunteers of Ampleforth Abbey” and “We offer pastoral support to any survivor or victim of past abuse wherever this occurred”.

We also have a formal Commitment to Survivors which is published on our website. The commitment frames the way we will work with survivors and sets out clearly what survivors may expect of us in our engagement with them including the onward reporting of safeguarding allegations. All our staff and members of the monastic community have received training on engagement with survivors. The most important impact of this work is, without question, with the survivors themselves. We are moved to read letters from survivors of abuse at Ampleforth who 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 forward.

Objective 3: Enhance our Offering to Guests

Hospitality is at the heart of the Benedictine charism. In his Rule, Saint Benedict devoted an entire chapter to this (cf. Ch. LIII, On the Reception of Guests). The chapter begins with these words: “Let all guests who arrive at the monastery be received as Christ, for he will one day say: ‘I was a stranger and you took me in’ (Mt. 25:35)” (n. 1).

Enhancing our offering to guests has been one of the major foci during the reporting period. It is clear from reviews posted on social media and other platforms that Ampleforth does have

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

something special to offer: “One of those places that you will [be] glad you made the effort to go. …There is an air of calm when you stroll around the grounds. The church is simple and magnificent at the same time. Everyone we met was friendly and welcoming”.

In April 2025, Ampleforth Abbey welcomed over 300 guests for The Easter Retreat, a highpoint in the liturgical year. For the first time ever, guests were charged to stay at Ampleforth Abbey for the duration of the retreat. In the past there had been no fixed charge for The Easter Retreat but donations provided a significant source of income to cover costs. Accommodation was capped at 325 people and booking was online via a booking platform. Within the first two weeks of going live, bookings had reached nearly 90% of capacity.

Hospitality is the major source of income for the monastic community and so the hard reality is that good reviews need to be supported by a regular level of income. Since the opening of Alban Roe House in March 2024, day visitor numbers have been lower than expected and a well-run Tea Room, Abbey Shop and tours of the Abbey church on their own do not provide a net contribution to the Trust’s long-term sustainability.

To that end, a comprehensive marketing strategy is being developed by a newly-appointed Head of Marketing, Communications and Development, and this will be presented to the board of trustees in November 2025.

The Introduction to this report cited the words of Pope Francis who referred to monasteries as “oases, where men and women of every age, origin, culture and religion can discover the beauty of silence and rediscover themselves, in harmony with creation, allowing God to reestablish just order in their life”. One of the major successes at Ampleforth Abbey continues to be the number and quality of the retreats provided throughout the year. Guided retreats led by members of the monastic community, themed retreats focussing on a particular aspect of the Church’s year or a book of the Bible, self-led retreats – throughout the year these are full and demonstrate clearly that in offering the space for people to visit and spend time in reflection Ampleforth Abbey is responding to a deep need in today’s society.

Ampleforth’s online ministry continues to grow and evolve, reaching new audiences and sharing the monastic way of life more widely. The use of tagging tools on YouTube has continued to support the reach of Home Retreats, with the channel now surpassing 5,700 subscribers. Several of the weekly reflections have reached over 10,000 viewers, and the Home Retreats also remain available as podcasts, with around 1,000 downloads each month – increasingly popular with younger listeners compared to traditional streaming platforms.

Daily Mass continues to attract an online congregation of approximately 200–300 live viewers each day, with a further 100 daily listeners using the embedded audio streaming on the website.

In January, a new TikTok channel was launched, designed to invite questions from viewers, with monks responding through short video messages. Since launching, the channel has gained over 15,000 followers, received nearly 8,000 comments, 6.1 million views, and more than 230,000 likes. The initiative has also attracted attention from several media outlets, resulting in a range of positive coverage highlighting the creativity and relevance of the monastic outreach. This platform has opened up fresh and meaningful ways to connect with those exploring questions of faith, and it is hoped that it will become an increasingly valuable space to support vocations.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Objective 4: Align and Optimise our Commercial Activity

The work undertaken by the new Chief Executive and the Director of Finance provided a robust, if stark, analysis of the organisation’s financial needs and a clear understanding of the costs involved in maintaining the monastic community at Ampleforth Abbey and supporting it along its path of growth. Thanks to their work, assisted by the Finance Team and budget holders, a 2025/26 budget and three-year finance plan was presented to and approved by trustees.

Continuing the aforementioned theme of unity in a common purpose, an Operations Management Team meets weekly, and the aims of that meeting include:

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Objective 5: Make our Estate work for us

For the last two years property sales have sustained Ampleforth Abbey Trust and the financial position is such that they will continue to be important in the coming financial year. The Trust has an excellent Estates Committee whose members provide insights from a variety of perspectives, including land management, rural business development, commercial property development, and the legal view of general commercial and real estate and development work.

One of the major foci throughout the reporting period has been the lease negotiations between the Abbey Trust and the St Laurence Education Trust over school use of the buildings owned by the Abbey Trust. The advice and support of the Estates Committee has been invaluable throughout this lengthy process, particularly in ensuring that the St Laurence Education Trust pays a realistic commercial rent for the properties it leases.

The Abbey Trust, in conjunction with the Diocese of Middlesbrough, has also sought the advice of the Catholic Education Service (CES) so that the lease and the St Laurence Education Trust Articles of Association guarantee that the Catholic and Benedictine character of Ampleforth College will remain in place.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Objective 6: Renew the Invitation to join our Community of Support

Throughout the reporting period work continued with Siân Newton, from Craigmyle Fundraising Consultants, in developing and testing the case for support approved by trustees in January 2024.

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 prays for their benefactors every day.

This year the Abbey Trust continued to work in partnership with the Development Office of Ampleforth College. In discussions at the regular AAT-SLET liaison meetings it has become increasingly clear that a joint approach to fundraising is beneficial to both charities, the Ampleforth Abbey Trust and the St Laurence Education Trust. For many potential donors Ampleforth is seen as one entity and so it has proved fruitful for representatives from both charities to attend events where their respective needs are clearly set out. Donors, of course, remain free to donate to whichever charity they might choose. In the course of the reporting period, a number of such evets were held in, for example, London, Madrid, Gibraltar, and Hong Kong. Many of these events included a half-day retreat led by the Chair of the trustees, Fr Wulstan Peterburs OSB.

Looking to the future, the Trust is exploring with the St Laurence Education Trust Development Office ways of formalising what is already a mutually beneficial relationship. By underpinning future fundraising activity in this way, it is hoped that a co-ordinated approach will benefit both Trusts.

There is continued engagement with The Ampleforth Society (Registered Charity 29626). The Abbey provides a Chaplain to the Society, Fr Richard ffield, who works in partnership with Development Office staff to maintain a strong connection with Society Members. The Ampleforth Society brings together former pupils of Ampleforth College, current and past parents of the College and friends of Ampleforth including former teachers and staff, and runs a varied programme of communications and events in the UK and further afield. Through this 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 and a special celebration is scheduled to take place at Ampleforth 3-5 October 2025 to celebrate the 150[th] anniversary of the founding of The Ampleforth Society.

The Ampleforth Lourdes Hospitalité, a work of the Abbey Trust, undertakes many fundraising initiatives to support pilgrims to travel to Lourdes for the annual Ampleforth Lourdes Pilgrimage.

Donors are kept informed 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 purpose 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.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

The charity does not currently work with any commercial partners in fundraising. Where it works with data processors or professional fundraisers it ensures that they meet and comply with GDPR requirements, 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.

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 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. Each Parish has a Finance and General Purposes Committee made up of lay advisers and two of the parishes are also supported by lay administrative employees.

The parish of St Joseph, Brindle, in the Archdiocese of Liverpool, was served by a member of the monastic community until 31 October 2025, after which date pastoral and spiritual provision for the parishioners became the responsibility of the Archdiocese of Liverpool. A new Archbishop of Liverpool was installed on 27 May 2025, and a canonical consultation was

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

launched soon after that date to determine the precise nature of the pastoral and spiritual provision to be provided by the archdiocese. The Abbey Trust, as owner of the assets in St Joseph’s, Brindle, is also taking an active part in that consultation with its focus on asset ownership and the use of those assets.

One monk of Ampleforth Abbey served in the parish of St Mary’s, Knaresborough, in the Diocese of Leeds, until 14 September 2024 when he returned to reside at Ampleforth Abbey; one monk continues to serve at St Mary’s, Bamber Bridge, in the Diocese of Salford.

Interior view of the parish church of Our Lady & St Benedict, Ampleforth

Further afield

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 the Archbishop of Harare in the name of all the bishops of Zimbabwe.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

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There are currently four monks of Ampleforth Abbey resident at the monastery of Christ the
Word. They provide retreats and periods of recollection for visitors and also lead retreats for
other religious communities in Zimbabwe. As religious superior, the Abbot of Ampleforth
Abbey visits the community in Zimbabwe once a year.
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The chapel at the Monastery of Christ the Word in Macheke, Zimbabwe

Conclusion and future plans

2024-25 has been a year of change, of fundamental challenge, and of realisation. A number of changes in personnel at senior level in the organisation created a degree of instability and uncertainty, but the resilience of a loyal staff, the guidance of a new leadership team, and the support of the board of trustees has begun to provide the necessary stability for the organisation to plan for the future. Providing a sustainable future for the monastic community, which is the primary goal of the charity, is a major challenge and the stark reality of the financial situation has only highlighted some of the risks involved. But sustainability is not just about finances: it is about ensuring the foundations are in place for us to continue our mission as expressed in our charitable objectives. In securing these foundations and learning from our difficult past we strive to secure a safe and brighter future, moving forward together with confidence, faith, hope and trust.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Public Benefit

The Charities Act 2011 requires charities to demonstrate that they are for the public benefit. When planning activities for the year the charity has considered the Charity Commission guidance on public benefit. The activities undertaken and the impact of these include:

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

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 Ampleforth Abbey Trustees were incorporated on 8 June 1945 and amended by special resolutions dated 4 September 2019.

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 company who served during the period are shown on page 22 and are referred to as the trustees within this document.

The financial statements consolidate the results of one controlled charity: 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 trustee/annual reports.

Governance

The charity is governed by a Board of the Trustee Company which meets formally seven times a year. The Board has established a number of formal committees, reviewed in December 2023, as indicated in the chart below.

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Ampleforth Abbey
Trust
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Safeguarding
Committee
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Estates Committee
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Finance, Audit and
Risk Committee
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Investment
Committee
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Nominations and
Governance
Committee
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Safeguarding
Panel
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Health and Safety
Management
Committee
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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Key Committees

Estates Committee

Purpose: To advise and report to AAT on matters relating to the management and development of the real estate owned by AAT.

Health & Safety Management 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 advise 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.

Safeguarding Committee

Purpose: To scrutinise, advise and report to the Board on the overall performance and effectiveness of safeguarding across the activities of the Ampleforth Abbey Trust, enabling the trustees to discharge their duties in safeguarding.

Safeguarding Panel

Purpose: To manage individual casework, and make recommendations to the Religious Superior, via the Safeguarding Committee, in relation to the safeguarding arrangements for members of the monastic community about whom safeguarding concerns have been raised. The Panel will operate in accordance with procedures set out by the Catholic Safeguarding Standards Agency.

Nominations and Governance Committee

Purpose: To advise and report to AAT on the recruitment, appointment and induction of trustees and also, as and when required by AAT, of committee members who are not trustees.

Recruitment, Remuneration and Training of Trustees

The appointment of trustees is the responsibility of the corporate member of the charity, formed of the Conventual Chapter of Ampleforth Abbey, acting on the recommendation of a Nominations and Governance Committee and following 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 the skills that they bring to the role of trustee. The Board currently comprises 5 monastic and 3 lay trustees, which leaves

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

up to four vacancies. Arrangements are being made to appoint new trustees to fill the current vacancies.

Appropriate induction and on-going training for all trustees and committee members, with a specific initial focus on trustee legal obligations under charity and company law, is arranged through the Chief Executive Officer assisted by the Company Secretary and Clerk.

During the reporting period, no lay trustee received any remuneration from the Trust. Trustees who are 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 summer 2024, in the light of the departure of a number of senior officials and conscious of the fact that in recent years the charity had become a smaller organisation with a smaller senior management team, the trustees commissioned an external review of the management structure. Its recommendations were submitted to the board of trustees and the then Chief Executive Officer was mandated to shape the organisational structure in accordance with the charity’s needs. Details of key management personnel are shown on page 23.

The work of developing an appropriate organisation structure was continued by the new Chief Executive Officer following his appointment on 1 February 2025. The organisational structure depicted below was approved by the board of trustees on 3 September 2025.

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Chief Executive
Officer
PA to the Senior
Management Team
Head of Marketing, Director of
Finance Director Communications Head of Guest Safeguarding and Head of Property
Operations Services
and Development Wellbeing
Business
Management Guest Services
Accountant Development Manager Infirmary/Matron Projects Manager
Manager
Finance Assistant
Marketing Manager Exec Head Chef Safeguarding Grounds Manager
Assessors x 2
Marketing
Assistant Housekeeping HR Officer Admin Assistant
Front of House
Manager
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The day-to-day management of the Trust’s staff and activity is delegated by the trustees to the Chief Executive Officer and the Executive Team comprising the Chief Executive Officer,

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

the Director of Safeguarding and Wellbeing, and the Finance Director. The team meets on a weekly basis, as does the Senior Management Team comprising the Chief Executive Officer, the Director of Safeguarding and Wellbeing, the Finance Director, the Head of Marketing, Communications and Development, the Head of Guest Operations, the Head of Property Services, and the Trustees’ delegate for parishes. Those in Director roles in the Executive team attend trustee Board meetings to update trustees and also seek approval for proposals where appropriate.

Risk Management

The Senior Executive Team maintain a Strategic Risk Register and a Health and Safety Operational Risk Register.

The Strategic Risk Register is presented to the Finance, Audit and Risk Committee with an accompanying commentary from the Chief Executive Officer, on a quarterly basis. Risks are considered under the following headings: strategic, financial, operational and safeguarding. In addition, the safeguarding risks on the Strategic Risk Register are reviewed every six months by the Safeguarding Committee and a separate operational Health & Safety Risk Register is reviewed every two months by the Health & Safety Management Committee.

In the reporting period critical risks considered by the Finance, Audit and Risk Committee and by the trustee board included, inter alia, lack of rigorous scrutiny and analysis of measurable strategic targets, poor reputation, the inability to support the future of the monastery due to the lack of vocations, the inability to support the future of the charity due to inadequate funds, lack of budgetary control, and income generation falling short of agreed targets.

Future plans

The future plans remain the provision of a sustainable future for the monastic community through our commercial and hospitality activities, and ensuring the foundations are in place for us to continue our mission as expressed in our charitable objectives.

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Financial Summary

Total income for the group is £22.3m (2023-24 £27.8m), a decrease of 20% compared to the previous year. Prior year included £7.7m received on the sale of property and other assets, with current year realising £1m.

Donations and legacies in the year are £1.4m (2023-24 £2.2m), a decrease of 34% compared to the previous year. The charity appreciates the continued generosity of its donors, without whose support many of the developments reported here would not have been possible.

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Income / Expenditure / Donations
[figures in £m]
35
30
25
20
15
10
5
0
2020-21 2021-22 2022-23 2023-24 2024-25
Income Expenditure Donations/legacies
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Investment Policy

The majority of investments are held with Sarasin & Partners LLP (S&P). The investment mandate target in place during the reporting period seeks to obtain a return of Consumer Price Index (CPI) +3% over a rolling five-year period. The Strategic Allocation (70% equities, 20% bonds and 10% alternative investments) was maintained during the period and sought to generate a higher yield from the equity allocation. The Charity’s investments produced a total return for the year to 31st August 2025 of 4.3% after all fees and costs. The index-based benchmark returned 5.0% (gross of fees) over the same period, albeit with more volatility than the investment portfolio. Income generation continued to be robust, however the strength in sterling relative to the US dollar was a headwind.

The year was characterised by uneven but generally resilient global markets. Equity returns were driven by a relatively narrow group of large US companies, while other regions and sectors delivered more modest progress. Bond markets were more stable than in the prior year, although returns were tempered by shifting expectations around the path of interest rates. Sterling strengthened against the US dollar over the period, which reduced the value of overseas earnings when translated back into pounds. Against this backdrop, the

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Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

portfolio’s diversified positioning helped to dampen volatility while continuing to generate a dependable level of income for the Charity.

The total value of investments is £17.2m (2023-24 £16.8m). The value of the Managed Funds held with S&P is £17m (2023-24 £16.7m) –the unrealised gain on investments in the period was £0.2m, see note 11 for further detail.

As part of the separation of the Abbey and College, the investment portfolios of each were clearly segregated, although funds were still held by the Abbey up to April 2025 when the donation of £4.7m of investment funds took place from the Abbey to the College. The Abbey has established is own Endowment Investment Policy, as approved by respective trustees in January 2023.

In addition to the Group Managed Fund Portfolio, the Abbey holds cash funds with Epworths Investment Management Company of £9.6m. As at the 31[st] August 2025 the Annual Equivalent Interest Rate was 4.11% return.

Reserves Policy

The charity aims to increase its free reserves to a level equivalent to between six and nine months of operating costs and this policy is monitored and reviewed annually. As at 31 August 2025 the target of six months of equated to £11.5m, on a group basis and £3.3m for the Trust.

This level has been set in order to:

A period of six to nine months has been chosen:

The consolidated unrestricted reserves at 31 August 2025 are £51.8m (2024: £53.3m). This figure is inclusive of £30.4m (2024: £31.9m) of fixed assets, the majority of which are essential for the charity to operate. If the net book value of such unrestricted assets is excluded from the calculation of free reserves, this gives a consolidated net surplus of £21.5m and Trust reserves of £19m. The excess reserves are held as investments to help fund the Trust on an ongoing basis.

Restricted funds at 31 August 2025 were £2.5m (2024: £3.5m) and endowed fund was £4.5m (2024: £3.4m). Details of these funds are given in notes 16 and 17.

21

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Reference and Administrative 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 YO62 4EY

Registered number of the charity

1026493

Auditors

Saffery LLP Mitre House, North Park Road Harrogate North Yorkshire HG1 5RX

Principal Solicitors

Wrigleys 19 Cookridge Street Leeds LS2 3AG

Milners Whitehall Waterfront 2 Riverside Way Leeds LS1 4EH

Bankers

Barclays Bank plc 1 – 3 Parliament Street York YO1 8SE

Investment managers

Sarasin & Partners LLP Juxon House, 100 St Paul’s Churchyard London EC4M 8BU

22

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Reference and administrative details (continued)

Insurance Brokers

PIB Insurance Brokers Poppleton Grange Low Poppleton Lane York YO26 6GZ

Directors of The Ampleforth Abbey Trustees Limited:

Reverend Wulstan Peterburs Mr Phillip Noyes (Vice-Chair, Chair of the Safeguarding Committee) Mr Nicholas Barran (Chair of the Investment Committee) Reverend Chad Boulton (resigned on 9 December 2024) Right Reverend Robert Igo Reverend Bede Leach Reverend Oswald McBride Reverend Cedd Mannion Mr David Mitchell (appointed 11 August 2025, Chair of the Estates Committee) Reverend Kieran Monahan Mr Charles Edward Perry (resigned on 1 February 2025) Ms Joanna Clare Taylor-Smith (Chair of the Finance, Audit and Risk Committee)

Officers and key management personnel:

Right Reverend Robert Igo - Abbot of Ampleforth Abbey Mr Jim Hopkinson – Director of Safeguarding and Wellbeing, and also Interim Managing Director 20 December 2024 (ceased employment on 7 March 2025) Mr Tom Kelly – Director of Safeguarding and Wellbeing (with effect from 20 January 2025) Mr Paul Davies – Director of Finance and Estates until 31 March 2024 and Managing Director from 1 April 2024 (ceased employment on 20 December 2024) Mr Charles Edward Perry – Chief Executive Officer (with effect from 1 February 2025) Ms Teresa Mullarkey –Director of Finance with effect from 1 November 2025 (Interim appointment with effect from 14 January 2025 to 31 October 2025)

Company secretary

Mr Liam Kelly

Approved by the Trustee on 29 June 2026 and signed on its behalf by

Joanna Taylor-Smith Director of the Trustee company

23

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Statement of Trustee’s Responsibilities

The Trustee is responsible for preparing the 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 give 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 group for that period. In preparing these financial statements, the Trustee is required to:

The Trustee is responsible 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 2011, 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 information 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.

24

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Ampleforth Abbey Trust Independent Auditor’s Report 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 2025 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 framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting 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:

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 with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustee is responsible for the other information. The other information comprises the information 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 information

25

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact.

We have nothing to report in this regard.

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:

Responsibilities of Trustee

As explained more fully in the Trustee’s Responsibilities Statement set out on page 24, 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 misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustee is responsible for assessing the group and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustee either intends to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

26

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under the Charities Act 2011 and report in accordance with regulations made under that Act.

Our objectives are to obtain reasonable assurance about whether the group and parent financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, 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 with 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 the Charities Act 2011, 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 Trust, 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 laws and regulations to be the Independent School Standards as found in the Education and Skills Act 2008 and guidance issued by the Department for Education.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the 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.

27

Ampleforth Abbey Trust Trustee’s report and financial statements 31 August 2025

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 knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify noncompliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would 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: www.frc.org.uk/auditorsresponsibilities. 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 the fullest extent permitted 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 report, or for the opinions we have formed.

………………………………………………………

Saffery LLP Statutory Auditors

Mitre House North Park Road Harrogate HG1 5RX

Date: 30 June 2026

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

28 

                             Ampleforth Abbey Trust
                       Trustee's report and financial statements
CONSOLIDATED 31st August 2025

Statement of financial activities
for year ended 31st August 2025
Note
Un
Income and endowments from:
Charitable activities
Schools income
Parish income
Community income
2a
Hospitality income
Other income
2a
Other trading activities
Non ancillary trading income
5
Other activities
Investments
Investment income
3a
Other donation
Bank and other interest
3a
Donations and legacies
Donations and legacies
4a
Other incoming resources
Profit on sale of fixed assets
Total income
Expenditure on:
Raising funds
Non ancillary trading
7a
Charitable activities
Schools
Parish
Community
Hospitality
Other
Donations to connected charities
Total expenditure
7a		 2025
restricted
Funds
£'000
15,000
-
436
534
680
465
619
640
25
768
340
1,035
20,542
387
387
16,329
-
2,743
583
1,852
-
21,507
21,894		 2025
Restricted
Funds
£'000
-
243
-
-
355
-
-
-
-
-
854
-
1,452
-
-
921
283
-
-
418
6
1,628
1,628		 2025
Endowment
Funds
£'000
-
-
-
-
-
-
-
-
-
-
239
-
239
-
-
-
-
-
-
-
-
-
-		 2025
Total
£'000
15,000
243
436
534
1,035
465
619
640
25
768
1,433
1,035
22,233
387
387
17,250
283
2,743
583
2,270
6
23,135
23,522		 2024
Total
£'000c
13,638
322
710
410
742
553
403
546
-
528
2,179
7,728
27,759
482
482
15,643
309
3,089
264
2,248
-
21,552
22,034		 
29

CONSOLIDATED

                             Ampleforth Abbey Trust
                       Trustee's report and financial statements
31st August 2025

Statement of financial activities (continued)
for year ended 31st August 2025
Note
2025
Unrestricted
Funds
£'000
Net (outgoing)/incoming funds from operations
before transfers and investment gains
(1,351)
(1,351)
Other recognised gains and losses
(154)
Transfers
-
Net (expenditure)/income
(1,505)
Transfers
-
Net movements in funds
(1,505)
Fund balances brought forward at
53,341
1st September 2024
Fund balances carried forward at
51,836
31st August 2025
Net (losses)/gains on investment
assets		 2025
Restricted
Funds
£'000
(176)
(176)
32
-
(144)
(807)
(951)
3,465
2,514		 2025
Endowment
Funds
£'000
239
239
68
-
307
807
1,114
3,425
4,539		 2025
Total
£'000
(1,288)
(1,288)
(54)
-
(1,342)
-
(1,342)
60,231
58,889		 2024
Total
£'000
5,725
5,725
1,166
6,891
-
6,891
53,340
60,231		 
The Charity has no recognised gains or losses other than its surplus for the year.

The notes on pages 35 to 62 form part of these financial statements.

30

AMPLEFORTH ABBEY TRUST
Statement of financial activities
for year ended 31st August 2025
Note
Un
Income and endowments from:
Charitable activities
Schools - rental charge
Parish income
Community income
2b
Hospitality income
Other income
2b
Investments
Investment income
3b
Gift Aid Donation
3b
Bank and other interest
3b
Donations and legacies
Donations and legacies
4b
Other incoming resources
Profit on sale of fixed assets
Total income
Expenditure on:
Charitable activities
Parish
Community
Hospitality
Other (including depreciation)
Total expenditure
7b
Donation of historical bursary funds
to St Laurence Education Trust
Donation to St Laurence Education
Trust

2025
restricted
Funds
£'000
60
-
435
534
93
640
70
445
307
1,036
3,620
-
2,733
583
1,852
225
-
5,393
5,393
Truste
2025
Restricted
Funds
£'000
-
243
-
-
355
-
-
-
34
-
632
283
-
-
418
6
420
1,127
1,127		 Ampleforth Abbey Trust
e's report and financial statements
31st August 2025
2025
2025
2024
Endowment
Total
Total
Funds
£'000
£'000
£'000
-
60
-
-
243
322
-
435
710
-
534
410
-
448
274
-
640
546
-
70
140
-
445
302
-
341
1,168
-
1,036
7,728
-
4,252
11,600
-
283
309
-
2,733
3,089
-
583
264
-
2,270
2,248
-
231
600
4,233
4,653
4,233
10,753
6,509
4,233
10,753
6,509		 
31

AMPLEFORTH ABBEY TRUST

                             Ampleforth Abbey Trust
                       Trustee's report and financial statements
31st August 2025

Statement of financial activities (continued)

for year ended 31st August 2025
Note
2025
Unrestricted
Funds
£'000
Net (outgoing)/incoming funds from operations be
transfers and investment gains
(1,773)
(1,773)
Other recognised gains and losses
(154)
Net
(1,928)
Transfers
17
-
Net movement in funds
(1,928)
Fund balances brought forward at
1st September 2024
51,356
Fund balances carried forward at
49,428
31st August 2025
Net (losses)/gains on investment
assets		 2025
Restricted
Funds
£'000
fore
(496)
(496)
-
(496)
(807)
(1,303)
3,051
1,748		 2025
Endowment
Funds
£'000
(4,233)
(4,233)
(4,233)
807
(3,426)
3,426
-		 2025
Total
£'000
(6,502)
(6,502)
(154)
(6,657)
-
(6,657)
57,833
51,176		 2024
Total
£'000
5,091
5,091
1,166
6,257
-
6,257
51,576
57,833		 
All the above results are derived from continuing activities.  The Charity has no recognised
gains or losses other than its surplus for the year.

32

                                        Ampleforth Abbey Trust
                                         Trustee's report and financial statements
31st August 2025

Balance sheet

for year ended 31st August 2025
Note
Co
Fixed assets
Tangible assets
10
Investments
11
Current assets
Stocks
12
Debtors
13
Cash and deposits
Current liabilities
Creditors payable within one year
14
Net current liabilities
Total assets less current liabilities
Long term liabilities
Creditors payable after one year
15
Total net assets
Total net assets
Funds
Endowed funds
16
Restricted funds
17
Unrestricted funds
Designated funds
18
Other charitable funds
Total funds		 2025
nsolidated
£'000
30,364
17,160
47,524
174
1,239
18,102
19,515
(5,221)
14,294
61,819
(2,930)
58,889
58,889
4,539
2,514
1,774
50,062
58,889		 2024
Consolidated
£'000
31,949
16,806
48,756
154
1,154
20,428
21,736
(5,150)
16,586
65,342
(5,111)
60,231
60,231
3,425
3,464
1,771
51,571
60,231		 2025
Trust
£'000
28,593
12,277
40,870
17
458
11,024
11,499
(1,192)
10,307
51,176
-
51,176
51,176
-
1,748
1,774
47,655
51,176		 2024
Trust
£'000
30,385
16,906
47,292
-
301
11,563
11,865
(1,227)
10,637
57,929
(96)
57,833
57,833
3,425
3,051
1,774
49,583
57,833		 
Approved by the Trustee on 29 June 2026     and signed on its behalf by:

Joanna Taylor-Smith, Director of the Trustee Company

33

                         Ampleforth Abbey Trust
                   Trustee's report and financial statements
31st August 2025

Consolidated Statement of Cash Flows

for year ended 31st August 2025
Note
2025
£'000
Net cash outflow from operations
21
Cash flows from investing activities
Interest income
768
Dividend income
640
Proceeds from the sale of property, plant & eq
1,036
Purchase of property, plant & equipment
(461)
Cash movement on investments
(108)
Proceeds from sale of investments
8,679
Purchase of investments
(8,979)
Cash flows from financing activities
Fees in advance scheme
Net movement on fees in advance
(1,937)
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
21b
Cash and cash equivalents at the end of the
reporting period
21b		 2025
£'000
(1,964)
1,574
(1,937)
(2,328)
20,428
18,100		 2024
£'000
528
546
7,869
(3,124)
2,223
12,013
(14,218)
4,059		 2024
£'000
(623)
5,837
4,059
9,273
11,155
20,428		 
34

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes

(Forming part of the consolidated accounts)

1 Accounting Policies

The accounts have been prepared in accordance with the Charities Act 2011 and in accordance with the Charities
Statement of Recommended Practice (SORP(FRS102)) and Financial Reporting Standard 102.  The accounts are drawn up
on the historical cost basis of accounting except that investments are carried at their market value.  The Trust
constitutes a public benefit entity as defined by FRS 102.

Going Concern

The consolidated financial statements have been prepared on a going concern basis.

In forming their assessment of going concern, the Trustee has prepared financial forecasts which cover the period
of 12 months from approval of the accounts, to June 2027. These forecasts confirm the trust can meet its financial
obligations from existing cash and investment reserves.

The consolidated financial statements include the assets of The St Benet’s Trust, which was wound up on 19 November
2024. The St Benet's Trust  is no longer trading and are therefore not a material component of the Ampleforth Abbey
Trust's consolidated financial statements, and accordingly have no impact on the going concern assessment of the
remaining entities included within these consolidated accounts.

Basis of consolidation

The financial statements consolidate the results of two controlled charities: The St Benet’s Trust (which did not
trade in the reporting period and was previously responsible for St Benet’s Hall in the University of Oxford); and
the St Laurence Education Trust (responsible for Ampleforth College); and one subsidiary company Ampleforth Abbey
Trading Limited, responsible for commercial activities.

Fixed assets

Tangible fixed assets are depreciated over their expected useful lives at the following annual rates
New buildings                          -        2%

Building refurbishment                 -        5% - 10%
Plant and equipment                    -        7% - 20%
Improvements to leasehold buildings    -       10% - 20%

The cost of Parish assets prior to 1998 is unknown.  It is deemed that the cost of obtaining the historical cost or
valuation of assets outweighs any benefit and that the depreciated net book value of such assets would be
immaterial.  Hence such assets remain unrecognised. Additions to land and buildings less than £20,000 are not
capitalised.  Additions to plant and equipment less than £3,000 are not capitalised.

Other freehold land and buildings are not depreciated and are stated at cost.  Other freehold land and buildings
are dwelling houses most of which are occupied by members and former members of staff on a variety of leases and
tenancies.  No valuation has been performed of the value of the residual interest in these properties. In the
opinion of the Trustee such a value would be considerably in excess of the properties' cost.

Fixed asset investments

Quoted investments are included at market value at the balance sheet date.  Unquoted investments are valued at the
trustee's best estimate of market value, based on a dividend yield calculation.  Investments in subsidiaries are
valued at cost.  Realised and unrealised gains and losses on investments are included within the Statement of
Financial Activities.

35

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

1Accounting policies(continued)

Notes (continued)

Transfers

Transfers are made between fixed asset investments and fixed asset land and buildings when a property is no longer
deemed to be held for investment purposes and vice versa.

Impairment

At each reporting period end date, the trust 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).
Where it is not possible to estimate the recoverable amount of an individual asset, the Trust estimates the
recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Composition fees

Composition fees represent amounts received in respect of future fees. Interest is added to the amounts annually
and the balance is then used to offset against pupils' fees.

Leases

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated
over the shorter of the lease term and their useful lives.  Obligations under such agreements are included in
creditors net of the finance charge allocated to future periods.   Rentals payable under operating leases are
charged against income on a straight line basis over the lease term.

Post-retirement benefits

Retirement benefits to academic employees of the school are provided by The Teachers' Pension Scheme (TPS). This
scheme is a multi employer pension scheme and it is not possible to identify the assets and liabilities of the
scheme which are attributable to the Trust and therefore, as required by FRS102, accounts for the scheme as if it
were a defined contribution scheme. The Charity's contributions, which are in accordance with the recommendations
of the Government Actuary, are charged in the period in which the salaries to which they relate are payable.

Non teaching staff are members of a defined contribution scheme. The assets of the schemes are held separately from
the Trust in independently administered funds. The amount charged to the Statement of Financial Activities
represents the contributions payable to the scheme in respect of the accounting period.

Fee income

School fee income represents the amounts receivable for fees, less any scholarships, bursaries or discounts from
unrestricted funds.  Income is accounted for in the period in which the service is provided.   It also includes
extras that relate to ancillary charges but excludes items where the charity is effectively acting as an agent and
is simply recharging for costs incurred on behalf of the students.

36

                     Ampleforth Abbey Trust
               Trustee's report and financial statements

31st August 2025

1Accounting policies (continued)

Notes (continued)

Donations, legacies and fund accounting

Incoming resources received by way of grant, donation or legacy to fund general or specific activities are
recognised where there is entitlement, the amount can be reliably quantified and the economic benefit  to the
Charity is considered probable.

Donations received for the general purpose of the Trust are credited to unrestricted funds.  The Trust may at its
discretion set aside funds for specific purposes as designated funds which would otherwise form part of the general
reserves of the Trust.

Donations subject to specific wishes of the donors are credited to relevant restricted funds, or to endowed funds
where the amount is required to be held as permanent capital.

Gifts in kind are estimated at the open market value  at the date of the gift.

Other income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the
income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from commercial activities is recognised as earned.  Investment income is recognised on a receivable basis.
Other income is credited to the Statement of Financial Activities when it falls due.

Expenditure

Expenditure is recognised when a liability is considered probable, discounted to present value for longer-term
liabilities.  Expenditure is summarised under functional activity headings either on a direct cost basis, or for
overhead and support costs, apportioned according to a number  of evaluation criteria.  These include absorption
based upon floor space, number of staff, estimates of actual consumption and time in use.

Governance costs relate to costs associated with meeting the constitutional and statutory requirements of the
charity and include audit fees.   Interest charges are allocated to the functional activity that they relate to.

Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at
amortised cost using the effective interest rate method.

The principal accounting judgements relate to the useful economic lifes of tangible fixed assets.

37

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)
2
Charitable Activities
a Consolidated
Un
Community income from charitable activities
Other community income
All of the comparative income £710,000 relates to th
b Trust
Un
Community income from charitable activities
Charges for work within the Trust
Other community income
All of the comparative income £710,000 relates to th
Other income from charitable activities
Donations		 2025
restricted

Funds
£'000
436
436
e unrestric
2025
restricted

Funds
£'000
435
-
435
e unrestric
93
93		 2025
Restricted
Funds
£'000
-
-
ted fund.
2025
Restricted
Funds
£'000
-
-
-
ted fund.
355
355		 2025
Endowment
Funds
£'000
-
-
2025
Endowment
Funds
£'000
-
-
-
-
-		 2025
Total
£'000
436
436
2025
Total
£'000
435
-
435
448
448		 2024
Total
£'000
710
710
2024
Total
£'000
185
525
710
274
274		 
All of the comparative income of £274,000 relates to the restricted fund.

38

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

3Investment Income
a Consolidated
Un
Investment income
Dividends UK other
Bank and other interest
Bank and other interest		 2025
restricted

Funds
£'000
640
640
768
768		 2025
Restricted
Funds
£'000
-
-
-
-		 2025
Endowment
Funds
£'000
-
-
-
-		 2025
Total
£'000
640
640
768
768		 2024
Total
£'000
546
546
528
528
b Trust
Un
Investment income
Dividends UK other
Gift Aid Donation (see note 6)
Bank and other interest
Bank and other interest		 2025
restricted

Funds
£'000
640
70
709
445
445		 2025
Restricted
Funds
£'000
-
-
-
-
-		 2025
Endowment
Funds
£'000
-
-
-
-
-		 2025
Total
£'000
640
70
709
445
445		 2024
Total
£'000
546
140
686
302
302		 
In the prior year £27,000 of investment income related to the restricted fund and £95,000 related to the endowed
fund; all other investment income was unrestricted.

39

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)
4
Donations and legacies
a Consolidated
Un
Donations and Legacies
Legacies
Church collections
Other
Consolidated - comparative
Un
Donations and Legacies
Legacies
Church collections
Other		 2025
restricted

Funds
£'000
147
22
138
340
2024
restricted

Funds
£'000
172
15
43
230		 2025
Restricted
Funds
£'000
820
-
34
854
2024
Restricted
Funds
£'000
986
-
963
1,949		 2025
Endowment
Funds
£'000
-
-
-
239
2024
Endowment
Funds
£'000
-
-
-
-		 2025
Total
£'000
967
22
172
1,433
2024
Total
£'000
1,158
15
1,006
2,179		 2024
Total
£'000
1,157
15
1,006
2,179
2023
Total
£'000
429
23
636
1,088		 
40

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)
4
Donations and legacies
b Trust
Un
Donations and Legacies
Legacies
Church collections
Other
Trust - comparative
Un
Donations and Legacies
Legacies
Church collections
Other		 2025
restricted

Funds
£'000
147
22
138
307
2024
restricted

Funds
£'000
170
15
20
205		 2025
Restricted
Funds
£'000
-
-
34
34
2024
Restricted
Funds
£'000
-
-
963
963		 2025
Endowment
Funds
£'000
-
-
-
-
2024
Endowment
Funds
£'000
-
-
-
-		 2025
Total
£'000
147
22
172
341
2024
Total
£'000
170
15
983
1,168		 2024
Total
£'000
170
15
982
1,168
2023
Total
£'000
77
23
635
735		 
41

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

5
Non-ancillary trading income
Un
Trading income of trading subsidiary
(excluding items cancelled on
consolidation)		 2025
restricted

Funds
£'000
465
465		 2025
Restricted
Funds
£'000
-
-		 2025
Endowment
Funds
£'000
-
-		 2025
Total
£'000
465
465		 2024
Total
£'000
553
553		 
All of the current and prior year non-ancillary income was unrestricted.

6 Net income of trading subsidiaries

Ampleforth Abbey Trust has one wholly owned trading subsidiary which is incorporated in the United  Kingdom,
Ampleforth Abbey Trading Limited (company number 00513517).  Ampleforth Abbey Trading Limited operates a farm, an
orchard, and a shop,  all from land and property owned by the Ampleforth Abbey Trust.  A summary of the results and
funds of Ampleforth Abbey Trading Limited is shown below.  Full accounts of Ampleforth Abbey Trading Limited are
filed with the Registrar of Companies.
Profit and loss account summary:
Turnover
Cost of sales
Gross profit
Administration expenses
Other operating income
Gift Aid Donation to Ampleforth Abbey Trust
Net profit
Balance sheet summary:
Assets
Liabilities
Funds		 2025
£'000
465
(295)
170
(93)
(45)
32
£'000
490
(73)
417		 2024
£'000
553
(320)
233
(162)
(140)
(69)
£'000
428
(43)
385		 
42

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

6 Net Income from charities under the trust's control

St Laurence Education Trust (company number 3415320,charity number 1063808) and The St Benet's Trust (company
number 7684231, charity number 1143350) are charities, incorporated in the United Kingdom,  under the Trust's
control which are included within the consolidated figures.  A summary of the results and funds of the companies
are shown below.  Full accounts of the companies are filed with the Registrar of Companies. Please refer to note 1
for details of cessation of trade of the St Benet's Trust.
S

Statement of Financial Activities summary:
Incoming Resources
Income from charitable activities
Other trading activities
Investments
Donations and legacies
Other income
Donation from Ampleforth Abbey Trust
Resources expended
Charitable activities:
Education and grant making
Total resources expended
Gains on investments
Net incoming/(outgoing) resources
Balance sheet summary:
Assets
Liabilities
Funds		 t Laurence
Education
Trust
£'000
15,000
619
323
1,092
587
4,653
22,274
17,310
17,310
100
5,064
£'000
14,704
(7,529)
7,175		 St Benet's
Trust
£'000
-
-
-
-
-
-
-
-
-
-
-
£'000
1
-
1		 Total
2025
£'000
15,000
619
323
1,092
587
4,653
22,274
17,310
17,310
100
5,064
£'000
14,705
(7,529)
7,176		 Total
2024
£'000
13,638
403
226
1,611
468
-
16,346
15,643
15,643
-
703
£'000
11,958
(9,846)
2,112		 
43

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

7
Analysis of expenditure
a Consolidated
S
Expenditure on raising funds
Trading expenses
Charitable activities
Schools
Parish expenses
Community expenses
Hospitality expenses
Other Charitable expenses
Donations to connected charities		 2025
taff Costs
£'000
177
177
11,569
-
1,512
-
-
-
13,081
13,258		 2025
Other
expenses
£'000
211
211
5,681
283
1,231
583
226
6
8,010
8,221		 2025
Depreciation
£'000
-
-
-
-
-
-
2,044
-
2,044
2,044		 2025
Total
£'000
387
387
17,250
283
2,743
583
2,270
6
23,135
23,522		 2024
Total
£'000
482
482
15,643
309
3,089
264
2,248
-
21,552
22,034		 
There were 213 (2024: 213) recipients of bursaries and discounts.
Governance included in other charitable expenses
Remuneration paid to auditor for audit services
Remuneration paid to auditor for tax services
Reimbursement of Trustee expenses
Other		 2025
£'000
63
3
16
-
82		 2024
£'000
62
2
14
14
92		 
44

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

7
Analysis of total resources expended (continued)
b Trust
S
Charitable activities
Parish expenses
Community expenses
Hospitality expenses
Other Charitable expenses
Donation to St Laurence Education Trust
Donation of historical bursary Funds
to St Laurence Education Trust
Governance included in other charitable expenses
Remuneration paid to auditor for audit services
Reimbursement of Trustee expenses		 2025
taff Costs
£'000
-
1,512
-
-
-
-
1,512		 2025
Other
expenses
£'000
283
1,221
583
416
231
4,653
7,387		 2025
Depreciation
£'000
-
-
-
1,854
-
-
1,854		 2025
Total
£'000
283
2,733
583
2,270
231
4,653
10,753
2025
£'000
33
1
34		 2024
Total
£'000
309
3,089
264
2,248
600
-
6,509
2024
£'000
30
1
31

8 Transfers to Dioceses

There have  been no transfers in the current financial year.

9 Staff numbers and costs

The average number of persons employed during the year was 297 (2024: 310).  The average number of full time
equivalent persons employed by function was:
Trading activities
Fundraising activities
Schools
Parish
Community
Hospitality		 2025
5
-
228
1
22
13
269
Cons		 2024
5
1
225
2
29
5
267
olidated		 2025
5
-
-
1
22
13
41
Trus		 2024
5
-
-
2
29
5
41
t		 
45

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

9Staff numbers and costs (continued)

The aggregate payroll costs of these persons were as follows:
Wages and salaries
Social Security costs
Pension contributions - defined benefit
Pension contributions - defined contribution
Aggregate employee - benefits of key
management personnel		 2025
£'000
10,590
1,130
1,099
439
13,258
786
Cons		 2024
£'000
9,984
943
935
440
12,302
871
olidated		 2025
£'000
1,207
121
-
184
1,512
284
Trus		 2024
£'000
1,297
111
0
220
1,628
389
t		 
On a consolidated basis redundancy and termination payments of £43,323 (2024: £44,000) were incurred during the
which relates to 4 employees.

Certain directors of the Trustee company are members of the monastic community of Ampleforth Abbey and the Trust
provides accommodation, meals and other basic living expenses for all its members.  However, the directors did not
receive any remuneration or reimbursement of expenses for their services.

The average number of persons employed during the year was 269 (2024: 267).

The number of staff earning in excess of £60,000 per annum was as follows:
£ 60,000 - £ 70,000 2025
2024
2025
2024
15
14
-
-
Consolidated
Trust
£ 70,001 - £ 80,000 5
2
-
-
£ 80,001 - £ 90,000 -
2
-
1
£ 90,001 - £110,000 1
2
1
1
£110,001 - £120,000 2
1
-
-
£120,001 - £140,000 1
-
-
-
£140,001 - £160,000 -
-
-
-
£200,000 - £220,000 -
1
-
-		 
Of the above 18 (2024: 16) were accruing retirement benefits under the Teachers' Pension Defined Benefits Scheme
and nil (2024: nil) under defined contribution schemes.

46

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

10 Tangible fixed assets

a Consolidated

Free
and

Cost
Balance at 1st September 2024
Additions
Disposals
Balance at 31st August 2025
Accumulated depreciation
Balance at 1st September 2024
Charge for the year
Disposals
Balance at 31st August 2025
Net book value
At 31st August 2025
At 31st August 2024		 hold land
buildings
Monastery
and school
£'000
58,587
225
-
58,812
28,347
1,889
-
30,236
28,576
30,240		 Other
Freehold
Land and
Buildings
£'000
929
-
-
929
151
-
-
151
778
778		 Improvements
to leasehold
property
£'000
162
-
-
162
13
-
-
13
149
149		 Plant and
equipment
£'000
2,088
236
(2)
2,322
1,306
155
-
1,461
861
782		 Total
£'000
61,766
461
(2)
62,225
29,817
2,044
-
31,861
30,364
31,949		 
In accordance with the Trust’s accounting policy, fixed assets are included at historical cost and are not revalued
within the financial statements. This approach is consistent with the requirements of FRS102.

However, the Trustee recognises that there is likely to be a material difference between the net book value in the
accounts and market value.  The buildings on the Ampleforth site are currently insured for £275m and the Parish
buildings for £13m.

All fixed assets are held for use within the Trust and its subsidiaries as part of their activities.  There are no
assets held primarily for their cultural or historical interest.

47

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

10
Tangible fixed assets (continued)
b Trust
Free
and

Cost
Balance at 31st August 2024
Additions
Disposals
Balance at 31st August 2025
Accumulated depreciation
Balance at 31st August 2024
Charge for the year
Disposals
Balance at 31st August 2025
Net book value
At 31st August 2025
At 31st August 2024		 hold land
buildings
Monastery
and school
£'000
56,807
8
-
56,815
27,719
1,786
-
29,505
27,310
29,088		 Other
Freehold
Land and
Buildings
£'000
929
-
-
929
151
-
-
151
778
778		 Improvements
to leasehold
property
£'000
-
-
-
-
-
-
-
-
-
-		 Plant and
equipment
£'000
951
55
-
1,006
433
68
-
501
505
519		 Total
£'000
58,687
63
-
58,750
28,303
1,854
-
30,157
28,593
30,385		 
In accordance with the Trust’s accounting policy, fixed assets are included at historical cost and are not revalued
within the financial statements. This approach is consistent with the requirements of FRS102.
However, the Trustee recognises that there is likely to be a material difference between the net book value in the
accounts and market value.  The buildings on the Ampleforth site are currently insured for £275m and the Parish
buildings for £13m.

48

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

11
Fixed asset investments

Balance at 1st September 2024
Additions
Disposals
Donation to SLET
Cash movement
Revaluation
Market value at 31st August 2025
Historical cost at 31st August 2025

Investment in subsidiary companies
Managed Funds
BATA shares
Unquoted investments
Loans
Investments with Curzon Rochford
Investments in property		 2025
£'000
Co
16,806
8,979
(8,679)
-
108
(54)
17,161
11,684
2025
£'000
Co
-
17,044
3
-
-
63
51
17,161		 2024
£'000
nsolidated
15,658
14,218
(12,013)
-
(2,223)
1,166
16,806
15,262
2024
£'000
nsolidated
-
16,689
3
-
-
63
51
16,806		 2025
£'000
Trust
16,906
8,750
(8,679)
(4,653)
108
(154)
12,278
11,784
2025
£'000
Trust
100
12,061
3
-
-
63
51
12,278		 2024
£'000
15,758
14,218
(12,013)
-
(2,223)
1,166
16,906
15,362
2024
£'000
100
16,689
3
-
-
63
51
16,906		 
The Ampleforth Abbey Trust owns 100% of the issued share capital of Ampleforth Abbey Trading Limited, which is
registered in England and Wales.

Investments with a market value of over 5% of the total market value of investments are as follows:

Sarasin endowments fund class A INC		 2025
2024
2025
2024
£'000
£'000
£'000
£'000
Consolidated
Trust
4,315
4,145
-
4,145
Sarasin Responsible Corporate Bond - I INC -
-
-
-
Sarasin income & reserves fund class A INC 668
295
-
295		 
Investments are held in the UK or by investment managers based in the UK.
12
Stocks

Goods for resale
Other (inc Work in Progress)		 2025
£'000
Co
174
-
174		 2024
£'000
nsolidated
154
-
154		 2025
£'000
Trust
-
17
17		 2024
£'000
-
-
-		 
49

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

13
Debtors

Trade debtors
Amounts owed by subsidiary undertakings
Prepayments
Other		 2025
£'000
Co
495
-
496
248
1,239		 2024
£'000
nsolidated
545
-
545
64
1,154		 2025
£'000
Trust
98
-
122
238
458		 2024
£'000
23
116
116
47
301		 
14Creditors: amounts falling due within one year
Creditors: amounts falling due within one year

Trade creditors
Amount due to subsidiary undertakings
Fees received in advance of term
Confirmation fees
Composition fees (fees in advance scheme)
Accruals
Taxation and social security
Hire Purchase
Other creditors		 2025
£'000
Co
347
-
2,327
157
627
420
31
5
1,307
5,221		 2024
£'000
nsolidated
679
-
2,966
148
439
361
40
5
512
5,150		 2025
£'000
Trust
72
387
-
-
91
497
31
5
110
1,192		 2024
£'000
41
334
-
-
81
621
40
5
106
1,227		 
Confirmation fees are deposits that are repayable when the pupil leaves the school and are technically repayable on
demand, however it is expected that they will be repayable as follows:

Within 1 year
Within 1 to 2 years
Within 2 to 5 years
Over 5 years		 2025
£'000
Co
157
222
349
34
762		 2024
£'000
nsolidated
148
185
389
35
757		 2025
£'000
Trust
-
-
-
-
-		 2024
£'000
-
-
-
-
-		 
Composition fees: Parents may enter into a contract to pay the Schools in advance for a number of years.  The money
may be returned subject to specific conditions on the receipt of notice.  Assuming pupils will remain within the
schools, the composition fees in advance will be applied as follows:
Composition fees fall due as follows:

Within 1 year
Within 1 to 2 years
Within 2 to 5 years
Over 5 years		 2025
£'000
Co
627
2,325
-
-
2,952		 2024
£'000
nsolidated
439
4,450
-
-
4,889		 2025
£'000
Trust
91
-
-
-
91		 2024
£'000
81
44
47
-
172		 
50

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

14
Creditors: amounts falling due within one year (continued)
Summary of movements in liability
Balance at 1st September 2024
New contracts
Repayments
Amounts used to pay fees
Balance at 31st August 2025
15 Creditors: amounts falling due after more than one year
Hire Purchase
Confirmation fees
Composition fees received (fees in advance scheme)		 2025
£'000

-
605
2,325
2,930		 2024
£'000
Consoli

5
609
4,497
5,111		 2025
£'000
4,889
702
-
(2,639)
2,952
2025
£'000


-
-
-
-
Consoli		 2024
£'000
834
4,575
-
(520)
4,889
2024
£'000
Trust
5
-
91
96
dated
16
Endowment funds
Trust
Permanent endowment
Scholarship and bursaries
Expendable endowment
The Miles Wright Bursary
The Bruno Bursary
16
Endowment funds
Consolidated
Permanent endowment
Scholarship and bursaries
Expendable endowment
The Miles Wright Bursary
The Bruno Bursary		 Balance at
Income
Expended
Investment
Donation to
Balance at
31-Aug-24
gains/
(losses)/
transfers
SLET
31-Aug-25
£'000
£'000
£'000
£'000
£'000
£'000
449
-
-
37
(486)
-
449
-
-
37
(486)
-
2,119
-
-
700
(2,818)
-
857
-
-
69
(926)
-
2,976
-
-
769
(3,745)
-
3,425
-
-
806
(4,232)
-
Balance at
Income
Expended
Investment
Transfers
Balance at
31-Aug-24
gains
31-Aug-25
£'000
£'000
£'000
£'000
£'000
£'000
449
239
-
-
37
725
449
239
-
-
37
725
2,119
25
705
2,848
857
43
69
969
2,976
-
-
67
774
3,817
3,425
239
-
68
810
4,540		 
51

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

16 Endowment funds (continued)

The permanent endowment funds are established to make provision out of income for scholarships and bursaries.  The
Miles Wright Bursary and the Bruno Bursary are both to provide bursaries for students who would otherwise not be
able to attend Ampleforth College.  Capital should not be applied for the provision of bursaries unless the fund is
insufficient to provide worthwhile bursaries without resort to capital. The Bruno Bursary is to fund only bursaries
of between 85-100% of fees together with related extras.
Comparative
Consolidated and Trust
Permanent endowment
Scholarship and bursaries
Expendable endowment
The Miles Wright Bursary
The Bruno Bursary		 Transfers
Balance at
Income
Expended
Investment
between funds
Balance at
31-Aug-23
gains
31-Aug-24
£'000
£'000
£'000
£'000
£'000
£'000
449
-
-
-
-
449
449
-
-
-
-
449
2,119
-
-
-
-
2,119
857
-
-
-
-
857
2,976
-
-
-
-
2,976
3,425
-
-
-
-
3,425
17
Restricted Funds
Balance at
Income
31-Aug-24
Consolidated
£'000
£'000
Ampleforth Hospitalite of Our Lady of
Lourdes (a)
328
355
Permanent endowment funds income
accounts (b)
149
-
The Miles Wright Bursary restricted
fund (c)
164
-
The Bruno Bursary restricted fund (c)
89
-
Mission funds (d)
725
243
Bursary fund (e)
(93)
345
War memorial fund (f)
311
-
St Benet's Hall hardship fund (g)
40
-
St Benet's Hall other (h)
-
-
Monastery fund (i)
-
-
Monastery refurbishment fund (j)
80
-
Abbey Church/extending Ampleforth Welco
-
-
General
95
-
Listed Places of Worship roof repair
80
-
Teaching schools and school improvement
-
-
St Laurence Education Trust fund (n)
491
-
Marian Garden (o)
39
-
Other (p)
205
-
Stewardship (r)
-
-
Historic England (s)
-
-
Strategic Plan (t)
30
-
Bain Memorial (u)
9
5
Alban Roe House (w)
12
-
Keane Legacy (x)
78
29
Grant towards bursaries (y)
140
150
Donations towards bursaries (z)
2
17
Research and development (aa)
34
49
Scholarship Bursaries (ab)
457
99
Legacy (ac)
-
39
Hardship Fund (ad)
-
121
Bursary Fund (ae)
-
-
3,465
1,452		 Expended
Transfers
gains
£'000
£'000
(331)
-
-
-
-
-
-
-
(283)
-
(351)
-
-
-
(19)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(6)
-
(31)
-
-
-
-
-
(6)
-
(14)
-
(8)
-
(3)
-
(189)
-
(17)
-
(24)
-
(307)
-
(39)
-
-
-
-
32
(1,628)
32		 Transfers
Balance at
31-Aug-25
£'000
£'000
-
352
(21)
128
(164)
-
(89)
-
-
685
99
-
(311)
-
-
21
-
-
-
-
-
80
-
-
-
95
-
80
-
-
(185)
306
-
33
-
174
-
-
-
-
-
24
-
-
-
4
-
104
(101)
-
-
2
-
59
(36)
213
-
-
-
121
32
(808)
2,514		 
52

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

17
Restricted funds (continued)
Balance at
Income
31-Aug-23
Consolidated - Comparative
£'000
£'000
Ampleforth Hospitalite of Our Lady of L
343
274
Permanent endowment funds income accoun
144
5
The Miles Wright Bursary restricted fun
140
6
The Bruno Bursary restricted fund (c)
78
3
Mission funds (d)
712
322
Bursary fund (e)
2
184
War memorial fund (f)
274
9
St Benet's Hall hardship fund (g)
40
-
St Benet's Hall other (h)
-
Monastery fund (i)
-
-
Monastery refurbishment fund (j)
80
-
Abbey Church/extending Ampleforth Welco
-
-
General
95
-
Heritage Lottery Fund grant
80
-
Listed Places of Worship roof repair
-
-
Teaching schools and school improvement
491
-
St Laurence Education Trust fund (n)
-
40
Marian Garden (o)
213
-
Other (p)
1,653
831
Stewardship (r)
-
-
Historic England (s)
30
-
Strategic Plan (t)
6
3
Bain Memorial (u)
204
Cricket Nets (v)
-
12
Alban Roe House (w)
-
78
Keane Legacy (x)
-
200
Grant towards bursaries (y)
-
14
Donations towards bursaries (z)
-
40
Research and development (aa)
-
457
Scholarship Bursaries (ab)
-
94
4,586
2,572
Trust
Balance at
Income
31-Aug-24
£'000
£'000
Ampleforth Hospitalite of Our Lady of L
326
355
Permanent endowment funds income accoun
149
-
The Miles Wright Bursary restricted fun
194
-
The Bruno Bursary restricted fund (c)
89
-
Mission funds (d)
725
243
Bursary fund (e)
8
-
War memorial fund (f)
391
-
St Benet's Hall hardship fund (g)
40
-
St Benet's Hall other (h)
-
-
Monastery fund (i)
-
-
Monastery refurbishment fund (j)
80
-
Abbey Church/extending Ampleforth Welco
-
-
General
95
-
Listed Places of Worship roof repair
80
-
Teaching schools and school improvement
-
-
St Laurence Education Trust fund (n)
491
-
Marian Garden (o)
39
-
Other (p)
214
-
Stewardship (r)
-
-
Historic England (s)
-
-
Strategic Plan (t)
30
-
Bain Memorial (u)
9
5
Alban Roe House (w)
12
-
Keane Legacy (x)
78
29
3,051
632		 Expended
Investment
gains
£'000
£'000
(290)
-
-
-
-
18
-
8
(309)
-
(289)
10
-
28
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1)
-
(8)
-
(65)
-
-
-
-
-
-
-
(204)
-
-
-
-
-
(60)
-
(12)
-
(6)
-
-
(94)
-
(1,338)
64
Expended
Transfers
£'000
£'000
(331)
-
-
(128)
-
(194)
-
(89)
(283)
(6)
-
-
-
(19)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(396)
(6)
-
(31)
-
-
-
-
-
(6)
-
(14)
-
(8)
-
(3)
-
(707)
(807)		 Transfers
Balance at
31-Aug-24
£'000
£'000
-
328
-
149
-
164
-
89
-
725
-
(93)
-
311
-
40
-
-
-
-
80
-
-
-
95
-
80
-
-
-
491
39
-
205
(2,419)
(0)
-
-
-
30
-
9
-
-
-
12
-
78
-
140
-
2
-
34
-
457
-
-
(2,419)
3,464
Donation to
Balance at
SLET
31-Aug-25
£'000
£'000
-
350
(21)
-
-
-
-
-
-
684
(8)
(6)
(391)
-
-
22
-
-
-
-
-
80
-
-
-
95
-
80
-
-
-
95
33
-
183
-
-
-
-
-
24
-
-
-
4
-
104
(420)
1,748		 
53

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)
Restricted funds (continued)
17
Trust comparative figures
Balance at
Income
31-Aug-23
£'000
£'000
Ampleforth Hospitalite of Our Lady of L
342
274
Permanent endowment funds income accoun
144
5
The Miles Wright Bursary restricted fun
170
6
The Bruno Bursary restricted fund (c)
78
3
Mission funds (d)
712
322
Bursary fund (e)
103
3
War memorial fund (f)
354
9
St Benet's Hall hardship fund (g)
40
-
St Benet's Hall other (h)
-
-
Monastery fund (i)
-
-
Monastery refurbishment fund (j)
80
-
Abbey Church/extending Ampleforth Welco
-
-
General
95
-
Heritage Lottery Fund grant
-
-
Listed Places of Worship roof repair
80
-
Teaching schools and school improvement
-
-
St Laurence Education Trust fund (n)
491
-
Marian Garden (o)
-
40
Other (p)
222
-
Stewardship (r)
1,654
831
Historic England (s)
-
-
Strategic Plan (t)
30
-
Bain Memorial (u)
6
3
Alban Roe House (w)
-
12
Keane Legacy (x)
-
78
4,602
1,586		 Expended
Investment
gains
£'000
£'000
(290)
-
-
-
18
8
(309)
(108)
10
28
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1)
-
(8)
-
(65)
-
-
-
-
-
-
-
-
-
-
-
(781)
64		 Transfers
Balance at
31-Aug-24
£'000
£'000
-
326
-
149
-
194
-
89
-
725
-
8
-
391
-
40
-
-
-
-
-
80
-
-
-
95
-
-
-
80
-
-
-
491
39
-
214
(2,420)
0
-
-
-
30
-
9
-
12
-
78
(2,420)
3,051		 
a)Ampleforth Hospitalite of Our Lady of Lourdes seeks to enable an annual pilgrimage to Lourdes in France.  Included
within the pilgrims are a number of sick.

b)The income on the permanent endowment funds is to support various educational works of the Trust and to make
provision out of income for scholarships and bursaries.

e)The restricted bursary fund is to make provision for bursaries.
f)The war memorial fund is available to use for any lawful charitable purpose in connection with Ampleforth College.
This is to include a minimum of one bursary a year.

i)The monastery fund relates to donations made specifically for use by the community.

j)The monastery refurbishment fund relates to donations made towards the refurbishment of the monastery.

k)The Abbey Church/extending the Ampleforth welcome fund relates to donations made towards the refurbishment of the
Abbey Church, Walker organ and Monks' Bridge and to attract more visitors to Ampleforth.

l)A £100,000 grant towards works on the Abbey Church Roof in 2017 is being released over 20 years, to match the
m)The teaching schools and school improvement programme related to grants and donations  received to support the
necessary leadership and administration capacity in leading a teaching school alliance.

n)The St Laurence Education Trust fund relates to funds transferred across from that charity to the Ampleforth Abbey
Trust.  The use of such funds is restricted to purposes that are in accordance with the objects of the St Laurence
Education Trust being both education and the advancement of the Roman Catholic faith.

y)Donation to support Ampleforth College bursaries

z)Donation to support Ampleforth College bursaries
aa) Donation to support research and development
ab) Donation to support Ampleforth College bursaries
ac) Donation to support Ampleforth College bursaries
ad) Donation to support Ampleforth College bursaries
ae) Donation to support Ampleforth College bursaries

54

                     Ampleforth Abbey Trust
              Trustee's report and financial statements
31st August 2025

Notes (continued)

Designated funds
18
Consolidated
Pension reserve
Other:
School bursary fund
School new bursary fund
Monastery refurbishment fund
Vocations fund
Monastery general fund
St Benet's Hall Fellows research fund
St Benet's Hall graduate research fund
Other
Trust
Pension reserve
Other:
School bursary fund
School new bursary fund
Monastery refurbishment fund
Vocations fund
Monastery general fund
Other		 Balance at
Income
31-Aug-24
£'000
£'000
-
-
-
-
427
-
1,190
-
22
-
45
-
71
-
-
-
16
-
1,771
-
1,771
-
Balance at
Income
31-Aug-24
£'000
£'000
-
-
-
-
500
-
1,190
-
22
-
45
-
16
-
1,774
-
1,774
-		 Expended
£'000
-
-
-
-
-
-
-
-
-
-
-
Expended
£'000
-
-
-
-
-
-
-
-
-		 Investment/
Pension gains
£'000
-
-
-
-
-
-
-
-
-
-
-
Investment
gains
£'000
-
-
-
-
-
-
-
-
-		 Transfers
£'000
-
-
74
-
-
-
(71)
-
-
3
3
Transfers
£'000
-
-
-
-
-
-
-
-		 Balance at
31-Aug-25
£'000
-
-
500
1,190
22
45
-
-
16
1,774
1,774
Balance at
31-Aug-25
£'000
-
-
500
1,190
22
45
16
1,774
1,774		 
Designated funds are provided to recognise a particular wish of a donor or of the Trustees.  In such instances the
donor specifically does not bind the Trust to apply the funds in a particular way.

The Monastery refurbishment fund was used to fund the Monastery upgrade in previous years.   This project is now
complete and these surplus funds will be used to cover future repair costs.

The designated bursary funds are available alongside the restricted bursary funds to provide bursary support.  The
level of funds drawn down from both of these each year depends on the bursaries allocated, investment income and
new donations received.

55

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

Designated funds(continued)
18
Consolidated - comparative
Pension reserve
Other:
School bursary fund
School new bursary fund
Monastery refurbishment fund
Vocations fund
Monastery general fund
St Benet's Hall Fellows research fund
St Benet's Hall graduate research fund
Other		 Balance at
Income
31-Aug-23
£'000
£'000
-
-
-
-
364
16
1,190
-
22
-
45
-
71
-
-
-
16
-
1,708
16
1,708
16		 Expended
£'000
-
-
-
-
-
-
-
-
-
-
-		 Investment
gains
£'000
-
-
47
-
-
-
-
-
-
47
47		 Transfers
£'000
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31-Aug-24
£'000
-
-
427
1,190
22
45
71
-
16
1,771
1,771
Trust - comparative
Pension reserve
Other:
School bursary fund
School new bursary fund
Monastery refurbishment fund
Vocations fund
Monastery general fund
Other		 Balance at
Income
31-Aug-23
£'000
£'000
-
-
-
-
437
16
1,190
-
22
-
45
-
16
-
1,711
16
1,711
16		 Expended
£'000
-
-
-
-
-
-
-
-
-		 Investment
gains
£'000
-
-
47
-
-
-
-
47
47		 Transfers
£'000
-
-
-
-
-
-
-
-		 Balance at
31-Aug-24
£'000
-
-
500
1,190
22
45
16
1,774
1,774		 
56

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

Commitments and guarantees

19 Capital commitments at the end of the financial year for which
Authorised and contracted
Operating leases:
At 31st August 2025 the Charity had annual commitments under no
Operating lease payments over the following periods:
a) Land and buildings
In less than one year
Between two and five years
b) Other
In less than one year
Between two and five years		 no provision has been made.
2025
2024
£'000
£'000
Consol
-
-
n-cancellable operating lea
2025
2024
£'000
£'000
Consoli
-
-
-
-
11
4
22
18
33
22
2025
£'000


-
ses as follows
2025
£'000

-
-
11
22
33		 2024
£'000
T
-
:
2024
£'000
-
-
4
18
22		 
57

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

Pension and similar obligations

20There are two pension schemes to which contributions are made.

Teachers' Pension Scheme (TPS)

20a Introduction

The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the Teachers'
Pension Scheme Regulations 2014. Membership is automatic for full-time teachers in academies and, from 1 January
2007, automatic for teachers in part-time employment following appointment or a change of contract, although they
are able to opt out.

The TPS is an unfunded scheme and members contribute on a 'pay as you go' basis - these contributions along with
those made by employers are credited to the Exchequer. Retirement and other pension benefits are paid by public
funds provided by Parliament.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in
accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM
Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed appropriately
and the review specifies the level of future contributions.

Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and
many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation
report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT, applying
a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation outcome are:

The result of this valuation was implemented from 1 April 2024.The next valuation result is due to be implemented
from 1 April 2028.

The Ampleforth Abbey Trust Money Purchase Scheme

20bThe Trust operates a defined contribution pension scheme for other staff employed by the Trust and its
subsidiaries.  The scheme is administered by Legal and General.  The employer's contributions are charged to the
Statement of Financial Activities in the period in which the salaries they relate to are due.  Employer payments to
the money purchase scheme during the year were £184,419 (2024: £232,271).

58

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

Notes to the Cash Flow Statement

21
Reconciliation of net incoming resources to net cash flow from operations
21a Net (outgoing)/incoming resources
Elimination of non-operating cashflows:
Losses/(Gains) on investments
Investment income
Depreciation
(Profit) on sale of fixed assets
Decrease in debtors
(Decrease) in creditors (excluding fees in advance scheme)
(Increase)/Decrease in stocks
Net cash outflow from operations
Analysis of cash and cash equivalents
21b
Cash at bank and in hand
Composition Fees
Analysis of group net assets between funds
2025
2025
22
Unrestricted
Restricted
£'000
£'000
Fund balances at 31st August 2025 are represented by:
Tangible fixed assets
30,246
118
Investments
12,589
32
Current assets
17,152
2,363
Current liabilities
(5,221)
-
Liabilities due after more than one year
(2,930)
-
Total net assets at 31st August 2025
51,835
2,514
2024
2024
Unrestricte Restricted
£'000
£'000
Fund balances at 31st August 2024 are represented by:
Tangible fixed assets
31,810
139
Investments
12,549
832
Current assets
19,243
2,493
Current liabilities
(5,150)
-
Liabilities due after more than one year
(5,111)
-
Pension scheme funding deficit
-
-
Total net assets at 31 August 2024
53,342
3,464		 2025
Endowment
£'000
-
4,539
-
-
-
4,539
2024
Endowment
£'000
-
3,425
-
-
-
-
3,425		 2025
£'000
(1,342)
54
(1,408)
2,044
(1,035)
(85)
(172)
(20)
(1,964)
2025
£'000
18,102
(2,952)
15,150
2025
Total
£'000
30,364
17,160
19,515
(5,221)
(2,930)
58,889
2024
Total
£'000
31,949
16,806
21,736
(5,150)
(5,111)
-
60,231		 2024
£'000
6,891
(1,166)
(1,074)
1,918
(7,729)
26
541
(30)
(623)
2024
£'000
20,428
(7,112)
13,316
2024
Total
£'000
31,949
16,806
21,736
(5,150)
(5,111)
60,231
2023
Total
£'000
30,888
15,658
12,458
(4,756)
(910)
-
53,338		 
59

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

23 Ultimate controlling party

The ultimate controlling party is The Ampleforth Abbey Trustees (company number 00396036), a company limited by
guarantee.  The Ampleforth Abbey Trustees is the corporate trustee of the Ampleforth Abbey Trust.

24 Related party transactions

The following transactions took place with the parent charity, Ampleforth Abbey Trust and its subsidiaries:
2025 2024
a) St Laurence Education Trust £'000 £'000
- recharges to the St Laurence Education Trust for a proportion of centrally
managed costs (including related wages and a share of depreciation) 100 95
- rental charge by Ampleforth Abbey Trust for use of land and buildings 60 -
- donation (to)/from the St Laurence Education Trust (80) (599)
- balance owed from/(to) the St Laurence Education Trust as at the year end date 32 116
- charges by Ampleforth Abbey Trading for use of residential property, and other 36 -
- Donation of historic bursary funds 4,653 -
b) Ampleforth Abbey Trading Limited
- donation (from) Ampleforth Abbey Trading (45) (140)
- balance owed to Ampleforth Abbey Trading as at the year end date (376) (334)

Post balance sheet events

25There are no post balance sheet events to disclose.

60

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

Consolidated Statement of Financial Activities - comparative figures by fun
for year ended 31st August 2024
Unrestricted
26
Funds
Income and endowments from:
£'000
Charitable activities
Schools income
13,638
Parish income
-
Community income
710
Hospitality income
410
Other income
468
Other trading activities
Non ancillary trading income
553
Other activities
403
Investments
Investment income
424
Bank and other interest
528
Donations and legacies
Donations and legacies
230
Other incoming resources
Profit on sale of fixed assets
7,728
Total income
25,092
Expenditure on:
Raising funds
Non ancillary trading
482
Fundraising & development
-
Other income generating activities
-
Financing costs
-
Total deductible costs
482
Charitable activities
Schools
14,978
Parish
-
Community
3,089
Hospitality
264
Other
1,884
Dontaions to connected charities
-
Disposal of defined pension scheme
-
20,214
Total expenditure
20,696		 d type
Restricted
Funds
£'000
-
322
-
-
274
-
-
27
-
1,949
-
2,572
-
-
-
-
-
665
309
-
-
364
-
-
1,338
1,338		 Endowment
Funds
£'000
-
-
-
-
-
-
-
95
-
-
-
95
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
£'000
13,638
322
710
410
742
553
403
546
528
2,179
7,728
27,759
482
-
-
-
482
15,643
309
3,089
264
2,248
-
-
21,552
22,034		 
61

                     Ampleforth Abbey Trust
               Trustee's report and financial statements
31st August 2025

Notes (continued)

Consolidated Statement of Financial Activities(continued)
26 Net incoming funds from operations
before transfers and investment gains
Other recognised gains and losses
Net gains on investment assets
Transfers
Net income
Pension scheme actuarial (losses)/gains
Transfers
Net movements in funds
Fund balances brought forward at 31 August 2023
Fund balances carried forward at 31 August 2024		 4,396
777
-
5,173
-
2,419
7,592
45,747
53,339		 1,234
64
-
1,298
-
(2,419)
(1,121)
4,586
3,465		 95
325
-
420
-
-
420
3,006
3,426		 5,725
1,166
6,891
-
-
6,891
53,339
60,230		 
62