Registered Chgrity Number: 1055718
THE ARCIIAI¥CEL TRUST
2021
INDEX
Page
Officth and AdvisorB
>3
5iaiLfftCryt of Fiuonci81 Aetivitits
BI1￿¢ Strttt
Piiticipai Accounting Poli¢ies
Not¢6 to the Fillall¢i￿ Slaiements
1&14

THE ARCHANGEL TRUST
0￿CERs AND AD￿SoRs
R¢yered C1￿}ty Numb¢r
1055718
Trustees
R TychbornE {Cb)ir}
D Gidiull
U M Mtirrissey
A Il'a15h
r AjibJd¢
L Bluiil
T O'She#
CbaTity Addrejs
St Michael'i Catholic GrammAr Schts)I
Nethu Street
NoTth Fin¢hley
LolldoD N12 7NJ
Audi
Bwxt¢r & Co
Lynwood Hous¢
C.Tiifton Rc)Ad
Orpington
Kent BR6 8QI
Bankern
Lloydb Batsk Pl
841 Higb Street
Nortb FyTthchlry
London N12 8PX
Bank oftrcland
PO Box 13949
Birniinghiim
B: 2GB
Pa8È1

THE ARC]UTh4GEL TRLST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2021
The ttu51tes prcs¢Di thcir rcpori snd the fillan¥ial Statemen￿ for ihc ycar L￿ded 31 MarLh 2021. The
a¢collnts have becn pr¢pared ip a¢cotKlancc with th¢ accouniing policies sei oui on pages 9 10 1 l of th¢
8¢¢ount5 and comply with the Tnjsi Drtd, Ihe Charilics Aci 2011 and "Accounting and Rep)ning by
Lhari(i¢s'. S(aicm¢ni of lietommended Praclitc applicablc to ¢hariiies prepanng their uc¢ount5 in
accordance with the FiJ]ancial Repomng Stslldard applic8blc in the UK and R¢publi¢(>f ]rcl￿d {FRS 1021
{effeciive l JaDuary 20151"
Slruetwr4 8ov¢rnaD¢¢ ADd mgllagement
Th¢ iru$itts during the year w¢rc as follo*¥'.
D Giaeon
C Blunt
T O'shea
R Tichbornc (Lhairl
U M m￿lS5¢Y
A Walsh
r Ajibad¢
Trnining fornewtyusiees is availabl¢ ifr¢quired. During tho ycar the day io day m￿a￿¢Ment0fthC ¢harily
-iiS delcbialC(I lu thL 14LddJllLisl¢r vfsi Michacl'5 Cailiu14L GTJllilJJ r Silioul i%'liv i'LpofiLd rc&Lil4irly 10
InLSt¢cs. Tru¥lCC5 ar¢ rcsponsiblc for IEking all strai¢gic d¢LiSiOllSand for morti￿ring th¢ implcmcnia150n
thereof. The chwity is administ¢red by 8 couucil of rnanaB¢rneni nNid¢ up of ihcabovenomedtruste¢s.'fhe
Lhanty Jocs iivi cmploy dny &14ili al[￿lIy.
CoD8tltutloD gttd objtets
T)1¥ Lharil). ii'os csitsblished by Tru51 D¢x¥l daied 24 JuDuary 1996 and is rL'¥isiLYrd with Eb¢ Lbariiy
Lomrnission. NO 1055718. The ¢harily'S address L$ Si Mich#el'$ Caiho]ic Gr8millarSchool, Ntthersired,
North Fincbl¢y. Londott. N12 7NJ.
"rh¥ objLLI 0( th¢ ¥lLurily is iu promL)l¥ ￿nd ddv¥n¥¥ Ihe eduLaiiun uf siu4lenls of Si MiLhael'¥ CaiholLL
Gromniar Scbool. Th¢ charily raisL'S funds from par,￿18, ex-pupils, oiher frieDds of Ibe school and from
capit&l grants wFLi¢h il apphcs 10 its obj￿t.
StAt¢mtnt of Iruite¢i' rosp0￿SIbIlItIeS
Thc trusic&% arc rcsponsibk for pr¢paring the Tru$teC5' Annual R¢port w)d the f￿￿¢18] Mat¢m¢rtts in
accordanL*with applicuble law and Unil¢d Kingdom A￿￿￿tIn¥ Standards (United Kinsdom Gon¢Tally
A¢¢cpted Accouniing Pr8clice).
Tho18w appli¢¥ble io th&riii¢s in England Wale5 requires the tsvsteC5 topr¢pgre fiD8ncial slutemcnt$
for ¢8¢11 financial y¢ar which 8lV¢ o and tair vicw of the siatc ot. aftairs ol. th¢ ch8riiy and of Ihe
incoming r¢50urrcs and application of rcsourG¢sufthe clwityforthai p¢riod. In pr¢parin8 Ihesc fwanci&l
statemeDls, the In]￿CeS requircd to:
sclcci suilablg *ccvuthting poliLic$ and ihctt apply Ihcm tionsi8t¢nLIy,'
obselve the methods and principle5 in the CbArities SORP,.
make judg¢rncnis 8Dd estimal¢$ thai ar¢ reasonable and prudenl..
Slal4 ii'bciher &pplic&ble LIK ALLoulliiLig Si&ndurds hdle bLLI) lolluw¢d, subjeci io any maierial
d¢pariuTQS discluscd and cxplaincd iti thc finJncial st#lcmcnis; and
prepAr¢ the fwanci81 siaiem¢nts on tbe going concern basis unle$% it is inappropriate to presume
Ihat iJlL chanty ￿111 conrinuc IL) operJi¥.
Th¢ trusiee5 are r¢sponsibl¢ forkceping propera¢¢owiiiDgrt¢OTds thaidisclose with r¢a50nabl¢accuracyat
an) iiniL IFEL iinanLioI posiiiun ofthc Lharil> CA<iblc Ihciii ia cnsuiL tIiL fsLliWbkn131 %U%LilJeu15knumply
wilh thcchariiics A¢1 2011, thc Charily IA¢¢ouThts and Rcports} R¢gulaliON$ 2008 andth¢prov5sions of thc
trust deed. They are akn responsible for safe8uaYdiDg the assets of the chariiy and h¢n¢e for takin
rLasunable foF thL pr¢i'eniioo wid d¢iLLisoi) of fixud qod othLk IIILiTkl &rilA￿S.
Page 2

THE ARCIIAJ¥GEL TRUST
I'RUSI'EES. REPORT FOR I'HE YEAR EhlDED ?1 .MJlRCH 2021 (condnued)
Pllbllt beDent statement
In setiing the charity's objectiv¢s. the Trust￿ have giyen egre￿7 cotjsiderdtion 10 the Charity
Con)missiott's general 8uidan¢e on publie beDefJt. TnJste49 are satisfied tbat the eharity's activities have
be¢ii for ilie ptsbl:c bencfii.
Revlew •f progress A¢hievetheDts and plADS for fvtthre periodi
The ch￿lty donated £196.369 12020..£300,962) to the school io suppon the scbool with it5 budsei
objcc¢iilCS.
Future plart$ are to coLtirJue fiJndrni5ing fromp8T¢nt&l and other donarions to enable support to the %hool
to be maintsined al similar levels.
Fln4JAclal r¢vlew
The 8tt8ched financial siol¢ments Show ihe sixte of the charity's [￿&￿e¢s. There wgs a surplus in the year
of £72.686 12020.. £2.731). Accumulated reserves ot 31 March 2021 toi&l £410.40712020.. £337,721).
which in¢ludc5 restrieled funds of £73.142 12020.. £103.414), a degigttated fund of £1 11.800 (2020:
£115.40]) and a general untestricied fuDd of £225,465 12020.. £118.9061. The puryose of ￿ch lljnd is
described in llo1¢ 5 ￿ the accounts.
col￿g concer
Aflcr making appropriAteenquiri¢8. tbe trusthL￿ have H r￿OnabletxPeCtstioD Ib￿ thecharityhas adequAte
resources to continue in operttlional existence for the foreseeablc future. For this reasots, tb¢ycootinu¢ to
odopi the 80ing conwD basis of 8ccouniinB ILI pfep&iD8 tbc financial siatements.
Pollcv on reserves
Th¢ tru8lees' policy on reserve l¢v¢l8 i5 us follows..
a) Rcstrithcd fvt)ds should noi bc tsllowedlo accumulate si8t2ifL¢ani sums t¢lld will normally be spcni
wiihin tbe fittancial yellr on the specific purpose for which the funds are reBtrieted. Occasionally.
th¢ limin8 of And oiher re¢eipLq m•yresult in a bdlonce Rt year end and th¢s¢ Are expected to
li¢￿ %pcnl Ihe follnth'117Lr finnnLilll I'kmr whLTi Ihcy HrisL'.
bl Trusie¢s hove d¢sigDHtcd all other unre¥lricled surplus funds to be used forth¢ school'supilal Jnd
oUi¢r Iirojeci%.
Rl•k Managemen¢
Thc m•jorri5k51o which the ¢baTity is exposed. ￿ identifiedbytru8tee& h8ve betrt reviewed 8nd 8ySterns
#nd pri)ccduTe% hAve been eRtablisheil to niantsge tbogL ri%lL%.
Audttors
ID go far as the tru8¢¢es are ilWOTe.'
there is llo rclcvani audit infonnation of which tbc charil&blc compony's auditlir is unowHrc: #nd
the (iovernors have taken all Aep3 ihat tbey ought to bave tsken to Enake theDtselves aware of
Any relevant audit ]nforn￿tion and to e5tabiisb that the auditor is aw￿¢ of that ittfornation.
L8 7th￿.
Apptt7v¢d by thr Twsic¢$ 01] .........
lld $i8D¢d on thrir behalf by.
U M Monisscy ITnJ5
PJ¥e 3

Th,DEPEN￿ENT AUDXTORYS .RE-. ORT TO THE TRUSTEES OF
THE ARCIIANGEL TRUST
Opinio
We hav¢audited theflljallcidl *8t¢ments ofThe Arch8ng¢l Trust foT the yeareDded 31 March 2021 which
¢omprise the Staiemcn¢ofFinan¢ia5 Aciivilies, the B4lancc Sh¢ei and thenow io the fjnancial Sla￿mCn1$,
applied in thciT prcparaiion ssapplicabl¢ law 8Dd Unii¢d KitigdomAcLouniin8StandaTds Ib'nil¢dKingdotll
Generally Acc¢picd Accouniin8 Pra¢iicel, including Financial R¢poriill8 Standard 102 artd the Charilies
SOIiP 2015.
In our opiniu)n thl. fuianciol 5lalLrncnis'.
giv¢ * irnc and fair vicw of Ihc smte of ihc ¢hthriiy's tsffairs us ai 31 March 2Q21 ond of its
incoming r¢sourcesand applieation ofr¢sources. 2ncludin8 its incom¢and ¢xpcnditwcforth¢year
Ih¢n ended..
l)ttv¢ bL'Cn prop¢rlyp￿'paT¢d in #bcord￿L¢w1th Unikd KthgdumGen¢ruily A¢￿￿0d AL*ouniiD
Practice,. a￿d
have becn prepored ID ac¢ordanc¢ with the requirements of the cb￿ltieS Acl 2011.
B*%is for opl#lo
We Conduct￿ our audit in ac¢ordonce with Inieni8tion&l Standards Oll Auditin8 (UK) IISAS (UK)) aTLd
uppIiLiiblL lyw. ()ur N%pun%iTriiliiic4 undcr Ihii4c %iHn<l#Fils arL lunhcr dcs¢nbcLI ID Ihl 'AiiililOT'
rexpon¥ibili¢i¢S for thc ¥udii ufihe findn¢ial Slaiemeniy, yeciiun ofuur rLTrL)rl. WL arL independ¢nl o(the
charily in ac¢oTdaDCC wilh Ihe cihical r¢quirements thai areTclevatti to OUT 8udii of finoncial $iaicm¢nts irl
IhL UK. iilLIiiLlinbT IhL fRC's fihiial Slai)L￿￿t.. Jnd iir hJi'c fuifillLd viir othL'r cthical IL%pO￿1biliL¥s iu
llccordonccwith ihese rcquirenicnls. We bcliev¢ thai the audii ¢videncew¢ have obtained ismfficient dnd
¥ppropriats io provide a buis fot our opiniotL.
CoDtlusloDi rel*tlttg to going toncerD
We have nothing to rtw in r05pertoftbe following mattcn in relahoDto which the ISAs(UK)T¢quire u$
io rcptsrt 10 you wh¢n'.
th¢ truslec5' use of th¢ 8OiU8 concern basis of a¢￿a￿tED￿ in the PTepthtion of the fillaD¢ial
statements LS Dot appropnate: or
may cJ$i signifi¢afti doubt Jboui lh¢ ¢h￿ily'S ubiliiy lo continu¢ 10 adopi th¢ goingwnc¢rn basis
ofaccouniing for a period of at le851 twelve months from the date when th¢ finan¢ial $￿teMen1$
Rre authoriatyj for issue.
Othtr IDform8tlott
The other inf0m￿tion comprise8 the iDfonnation included itt tbe 8nnual report. otber than the r￿Sn¢t81
$tai¢mcn15 Jnd uur uuditor's report ih¢reon. Thc trustces are Tcsptsnsibl¢ for th¢ othey information. Our
opinion on Ilie fjnanciul slRtem¢nis d0¢5 ntsi wvLrtheoihu iThfomiaiiun and. Lxieptto theeKI¢Dtuih¢rwis¢
cxplicitly Swicd in uur report, WL do nol express Any torul ofasguraDCC ¢oncIuSiOD thereott.
In conncciion Wlth OUT uudii ol'ihe linancial si8icmcnis. ourN'5ponsibilily 15 LO re4Ld the otherinforniaiion
rtd, in doing so, consider whcihcr the oth¢r infonn&lion i5 maierially inconsi$i¢n¢ with the financidl
giat¢meniS or our kDowled8c L)biaincd ID lh¢ 8udii or oth¢Thvk5e appears io bc maicriolly misslaied. If wc
-dLiILify suLh indlLiiuI iiiLtsiisisl¥nbiLS oi upp￿TL111 Jn4icri¥l 1131¥slaiLiiILnls. w¥ ¥LLIUiILd 10 dLILIMiiiie
whether ther¢ is & mai¢fLal misslat¢m¢ni in thc Iinancial ststcmenls or 8 mat¢rial misstaiemcni of theother
infOrn￿li0n. Ir, ba￿dOn thc work w¢ have perform¢d, wc coucludcibai th¢rc iSL mai¢riuI mIssta￿m¢￿t of
thj's Liihcr uilonll(IllVJJ. wc arL rcquircd ¢0 report Ilial faci.
Wc have noihing to Teporl in this ￿88rd.
Pa¥e 4

## **INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE ARCHANGEL TRUST (continued)** 

## **Matters on which we are required to report by exception** 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or 

- adequate accounting records have not been kept; or 

- the financial statements are not in agreement with the accounting records and returns; or 

   - we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of trustees’ financial responsibilities within the Trustees’ Report, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the accounts, the trustees are responsible for assessing the 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 trustees either intend to close and/or liquidate the charity, or have no realistic alternative but to do so. 

## **Auditor's responsibilities for the audit of the accounts** 

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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. 

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 

This report is made solely to the charity’s trustees, as a body. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


**Louise Hallsworth FCA (Senior Statutory Auditor) For and on behalf of Baxter & Co Chartered Certified Accountants** Lynwood House Crofton Road Orpington Kent BR6 8QE 

Dated: 27 January 2022 

Page 5 



THE ARCH.￿5,GEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE I￿AR ENI DED 31 MARCH 20&1
Unrextrkted
Restrleted
Getterul Designated Fund
Fund
Fllod
Tgtlll
2021
Tgtal
2020
Nots
Ittcome from:
Dott&uL)DB alld Legacies
Activities for Generatiti8 Funds
In¥iestzocois- Its￿1¢51
DfE GraDI8
247,859
4.433
1,546
0.56
255,973
4.433
382,777
4,433
18.529
19.058
18,529
252,293
,546
25.097
278,936 406,269
Eypendlthbr¢ oll:
ChaEitable Adiviti
Raisitig Funds
139,861
3,5(HJ
62,869
206250
403.538
Totsl KxpeDdltur•
139.881
3,51JO
66J69
206,250
403,538
Nei lll¢othlng (Outg•kng) Rowur
Befort Transfer
Gross Trlnsfers B¢tw¢¢n Funds
112,412
11.954) 137.772)
72.686
2.731
13.853) <1,647)
7,500
Net Movtment Ill Funds
IV6,559
{3.601) 13U,272)
72.686
2,731
Total F￿ndS Brou8ht Fonvard
118,906
115,401
103,414
337,721 334,990
Ttst•l Fundi C•rrkd F•rw•rd
225.465
111,800
73.142
410,407
337,721
Page 6

TKE ARCHANGEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE VEAR ENDED 11 MARCH 2021
SUPPLEMENTARY NOTE:
Cowparallve Inform*tloD for the Year Ended 31 M*rch 2020
Unrestrkted
Ruttitted
Gener￿ De￿I￿ated
Fund
Fund
Fund
Total
2020
Nots
In¢ome from:
Do￿tiOnS and Legoci&4
Activities for G¢nerating Fund8
Investtn¢nis- B4Dk Interest
Capitsl Grnnts (DtE)
274,208
4,433
103.704
4,865
382,777
4,433
19,058
19.058
Tot41 ID¢omé
278,642
103,704
23,923
406,269
Expelldl￿re ol:
Charitable AbliviiiGS
RaiBill8 FuDdA
277,111
14.95LI
111,477
403,53¥
TotAI Exp¢ttditure
277.111
14,950
111,477
403,538
Lyrt Incomllll (Out￿￿$) He￿llr¢
Before TrAn8feYs
Grog8 TrangfeT5 Between Fund&
1.531
88,754 (87,554)
2,731
117.175 (117,373)
Nrf Mov•ment In Fuodl
118,906
(28,621) (87,554)
2,731
Tothl Fund8 Brought Fotward
144,022
190,968
334,990
To¢41 FllDd$ Cirrl¢d Ffjrward
118,906
115.401
103,414
337.721
Page 7

THE ARCH￿NGEL TRUST
BAL4NCE SHEET AT 31 MARCH 2021
2021
2020
Note
Cllrrent Asyets
42.7(K)
374,415
83.537
259289
Cash at BaDk 8t￿ ID HaDd
417,115
342.826
Credll•M - Amounts faUiDg due withiti
(6,708)
{5.105)
Net As*ts
410,407
337.721
Fll•di oftbe ChArlty:
Restricted kuDd8
Unrestri¢¢¢d Gen¢rni
unT￿trIc￿￿ DeSi￿t￿l
73,142
225,465
111.800
IU3.414
118.906
115.401
410.407
337.721
Th¢ ttot¢6 on pa8¢8 9 10 14 fom part of these le￿unts.
Ig
Approved by thv Truste*1 OD .. ..
U M Mvrrisscy Il"ru '
D Giacon (frus￿)
Page 8

THE ARCHAIYGEL TRUST
PRINCIPAL ACCOLTNfJNG POLICIES
FOR THE VfAR V.NDED 31 ryIARCH 2021
la)
Basls of Pr¢p¥r*tl&ll
Th¢se ac¢ounis have been prepared ID accordance with FRS 102 "The FÉnan¢ial Rcpofihng
Stat]durd apiili¢ablE in Ihe UK and Rcpubli¢ of Irclartd" ("FRS 102").-Accouiiiitt.q ￿lji￿ RLPOrtin
by Charities" the Staiemcnl of Rccommendcd Pra¢li¢e for chllrities applying FRS 102 and UK
Generally Accept¢d A¢Louniing Praciic¢ it£tpplics from l January20I5. Thccharityis a Public
Bezjcfjl Enlily dcfined by fRS 102.
The accounis have beeD PfeP8red on the bistotical cost convention. Thc principal accountiDg
poli¢ies 2dopt¢d hr¢ sel oui below.
(t*)
Gokng ¢on¢ern
At the lime ofappiovin8 the atLounl5. the Trustees have a rea50nableexpect3tion that thc ch8rity
adcquaic resourccs to wntinu¢ in operaiional exist¢nee foT th¢ foresccable futUTC. Thus the
Trusiees. conlin￿e io Adopt thc goin8 concern basis uf aecounling in preparing the #CcoL￿15.
LnLral funds iirL uDrLslllLI
lund5 thhiLh IITL J%'iiilabl4 ti>r u$4 ill Ihc dibLretiiin i)f thc IiustLC5 in
turtheroncc ofthe generdl obJcetiY¢s of ¢he charity omd whi¢b have noi been desi8naied for uther
PUTpo$es.
Desi￿al¢d funds compris¢ unrestricted fijnds that havebeen asithbythe InJstee5 forparti¢ultr
purposes.
Re5tri¢*d futtds are fiujds which are to be used in ac¢ordancewith spebific restri¢noDts tmposed by
¢he donoTS or which h8v¢ raised by Ihe ¢harity for parti¢ulRT purp05¢5.
Thc 4u)d use ofknÉLcli fui)d i& sLt oui ui dic uoltss lo ihk, fiiidllLi•I blat¥lllL'JLIS.
Id)
In¢omt
Income is reco8oised whcn ihc chatity is leg8lly¢ntstledto itaftcrAny pcrforn)aDce¢DDditions hovo
bLL'li m¢1,
alllLIL.'1IS C51n be mLasiirLd rLliabl>i li 1% probJbl¢ Ihtti inLoin¢ M'ill be rcLcii'Ld.
1¢)
Resources F.xpend¢d
All ¢xpcndiiure {intludinB I￿¢CO¥¢r0b7C VAT) is ac¢ouni¢d foron an I￿¥u￿1S bn5is and h48becn
dir¢ctly attTibuted to particular hcadiu89, Ibey havc been allocatcd lo sclivili¢SOn abgsiseonsislenl
with iise of lh¢ Te$ourc¢4.
ID
TuAtIo
The Inisi is 8 reglslcred chariiy4ndAs such isexcinpi fromcoTporalioniax uDd¢r the provisionsof
the ￿￿Cl)Me and CO￿or&i10n Taxes Acl 1988 lo Ihc ¢Xl¢nl Ihii il 15 applied Ici 11$ chlriiiblc
objcctivcs. Tbe c05t of irrccoverable VAT incutred kn bccn included in the Stst¢meDlof Financial
A¥livitie$.

TLV ARCHANGEL TRUST
PRtNCtPAL ACCOUNTll¥G POLICIES
OR I klE YEAR ENDED 31 MARCH 2021 (continued)
18)
Govtrn*D¢¢ Co$ts
Liov¢mance Co$￿ include ¢osis aitribuiable io ibe ehariiy's compliance with conslitU150fial tsnd
staNiOry r4uiremcThls. thcludirtg Judst and strategic moDagcmeni. Such coms may includ¢ both
direct gmd support Costs.
Ih)
Th¢ Lhari14ble compiiny ha$ elect¢d lo apply the p1Dvisi￿lS of Seclion I I 'B&sie Finallci81
Insfftimenis. 8nd Sc¢iion 12'0ih¢r Fingn¢ial tnsLTumcnis Issues, of FRS 102 10 all of lis fman¢ial
instruTnenlS.
Financial iDStnun¢nt8 ar¢ reco￿LiS¢d in the ¢barity'S balance sbeel when li betomes party to the
eontr8cttEal provisions of the itss￿￿￿￿t.
FinallLldl a¥sels ajjd liabilili¢b arL orrskn?I, Wllli thL nLI bmounlh presLhiul in Ihi fJnaJiLial
$taiiYnenls, wben there is a Icgully ¢nforc¢abl¢ right 10 yel off Ihe rccogni%d 8mounts and th¢re is
an inicntion ¢0 seiile on a nct basi5 or io rcalisc the as5ci and scill¢ ihe liability sirnuliancously.
Basic Ih)Anclttl as5et5
Basic financia] ass¢ts, wbich includ¢d¢btors ￿dea$b and ballkbJlances, are initidly rn￿<￿ed 8t
traus8¢tion price iDcludio8 transaciion c0818 And arc 5ubscqllcnily Carricd ai amurtised ¢051 using
tb¢ ¢ffeclive interest mcthod urtless the arrangement COnSiilUtcsa fin8nckngtrdtssaLiion, wh￿rthe
Irdosdcliun is rncu&urcd ul ihe prL'sLni valuL ufihc fuiurc TCCClPt& discuunted Al a inarkci rulr or
intercsi. Financial a85cis clossifled as receivabl¢ within one year Are noi atN)rtised.
Bi￿¢ flnattdil IIAbllltl
IJilSiL fLuaDLldl li&biliiies, iHLludinB rrcditorb alld NLDk loans llrL iniiially rcroLP]iscd dl tra￿aLl1￿
pricc unl&s$ ihc #rrangemeni consti¢uies a finonci118 trnD￿clI0n, wherc lh¢ debi instrum¢ni is
measured al th¢ pres¢ni valuc of the lulU￿ rcc¢2pts discouni¢d di a market Ta￿ ol Inter￿1.
Deb( instrutt￿n(S 8re 8ubBequ¥ttily carried Bt Amortised COBt, USiA8 the effeettve ititerest rate
metbod.
Trade cr¢ditorn are oblh8ation8 lopay for8ood6 or serviceB ihat have been acquiredin th¢ordinBry
£oursL of opcra12o1￿ froniyupplicrb. Anwunts PayLiblb (I¥L iliis5ifiLIl 115 ¥LIIT¢'III lisbiliiies if pajmciii
is due wttbiD one Ye￿ or lesB. If not, they are prc5cni¢d a5 non-¢urrcni liabilities. Trade ¢redilL)rs
are rrcogmsed initially &¢trdDsa¢tioJ) price 8nd SU1￿cqUentIymCll5ura atatnortised cost USiDgthe
effeaivo ititerest tnetbod.
DtreeogDitiOts ol tlnA#¢lal liablllties
Fitiancial liabiliti¢5 aredcrecognised whenthe charitable¢ompp￿Y'5 contrACtual obligations expite
or disC￿ged or cancelled.
Page 10

THE ARCIIANGEL TRIJST
PRINCIPAL AccouNfiNG POLICIES
FOR THE YEAR ENDED 31 TrIARCH 2021 (conilDMed)
C￿tI￿1 I¢￿￿￿thIg ettlmates Judge)lleDts
Jn thc application of tbe ¢h#rii&ble Co￿pAnY'S ac¢ouniing policies. the Trustees ar¢ required to
Inakc.judgcnJonts. estimcllcs 4￿d assumptions nboui ihc canving amouni ofN5SCIS nd liabilitics
thit ore noi Teadily appamt from other sources. The esiinuies aTbJ ass(Kiat¢d a5SUlnPtjOlJs aTe
based OD historical experience otber factors tbat aTe considered io berelevant. A¢￿al resul
miy differ from tho8¢ ulimaies.
The ¢gtimJteB and undeTIyiD8 a86umpiioDS ore mi¢w•d on an ongoing b8siL Revisions to
acgoullting estimates are r¢co8nised ID the period ID whi¢h the estirnate is r¢viscd wbere tbe
revision affc¢ts' only that period. or in the period of the iei'iyiott and ltsiuri period5 wheTC th¢
revision ttffects both cuTra)t Ind ￿t￿repen0dS.
Pagell

THE ￿cll￿￿GEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
ACTIVITIES FOR GENERATING FUNDS Iunrestrleted)
2021
2(J20
R£ntsl Ineoo)e- Car PaTk
Rental In¢om¢- Substation
1.740
2.693
1,740
2.693
4.433
4,433
CIL4RITAHLE.ICTIVITIES
2021
2020
Direct Costs:
Donsiion 10 St MiGhacl'b Catholic (iramnur SLhoul
Rell￿} Donation io School (paid to The G8bri¢l Fund)
196,369
300,962
93.750
196,369
394,712
Support Co8t8:
AdmiDi$tration Rxpenses
GovernuuG¢ Los15
6.491
3.390
5,520
3.306
206,250
403,538
GOVERNANCE COSTS
2021
2020
Audit Ftts
Other
3.3¥NJ
3,306
3J90
3.306
EXPENDITURE ON RAISING FUNDS
2021
2020
Professional Fundtai8illg Fe
P¥g¢ 12

THI ARCHANGEL TRUST
NOTES TO T]tE FINANCIAL STATEMENTS
FOR TUE YEAR Ef4DED 31 NIARCH 2021 (eontillued)
ANALYSIS OF FUI¥DS
InCoMI￿g
Re50urte8
Re8oDrteg Losses
F.xpttsdÈd
& Tr#ttxfm
B418nee at
31 M8r¢h
2021
l Aprll
20211
Unrestslcted F￿lld.,
Gcrv21 Fund
Designpted FtmdÉ
Re8trlcted FuDd:
Capitsl Projects
Othor scliool prtsjc¢ts
118.906
115,401
252,293
.546
1139.8811
{3.$00)
l<,g53)
11.6471
225,465
111.800
99.564
-7.850
18.529
6,508
{62,869)
55224
17,918
7,500
337.721
278.936
(206.250)
410.407
Genernl funds 8re Unn$trIct￿ fuDd$ th&t are av8ilabl¢ for use at the discrEtioD of the trustees for the
fvrtlwaDce of th¢ 8¢Deral objectives of tbe cbarity
Degignaied futtds are unrestricted funds t4st trustees have C￿l￿¢d for Specific purposes.
Re51ri¢ted fund8 ar¢ funds which #r¢ io bts used iti &c¢orda￿e with sp¢cific JwtrieiioDS imposed by the
donors or which huve beet) raised by thc cligTily fvr particular purposes. Fund9 of £55.224 arc io be
applied to School copital prL>jecls. In a(Idiiion. £17,9111 rcmJincd unspcnl fiY)m th¢ i.fT fund.
ANALYStS OF FVNDS- PIUOR YEAR
Balanee ai IDcomlDi
l Aprll
Resources
21119
Ruourcei GI1￿, Loud B•lan¢e It
Expended
& Tra￿fer
31 Mar¢h
2020
Unrutrl¢ted Fwid:
Gencral Fund
D¢sigtt&ted Fut
Restrleted Fund:
Capitsl Projects
Other School projects
278,642
103,704
{?77.1111
(14.950>
117,375
(117,375)
I 18.906
115,401
144,022
89,006
101,962
19,058
4.865
{8.500)
1102,977)
99.564
3.850
334,990
406269
{4103,5381
337,721
21121
2020
DEBTORS
Gilt Aid taA Tecoitrable
Leg￿Y receivable
42.700
46.681
36,856
83.537
13

THE ARCHANGEL TRUST
NOTES TO THE FINANCIAL STATEMEprrs
FOR THE YEAR ENDED 31 MARCH 2021 (continued)
2021
2020
7. CREDrroRS.. Amounts falling due within one year.
Other Creditors
6,708
5,105
8. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrict¢d
General
Funds
Unrestricted Rutrlcted
Designated
Fundg
Funds
Tot81
Funds
2021
Total
Funds
2020
Currertt Assets
Cu￿ent Liabilities
228,855
(3,390)
111.800
76.460
(3,318)
417.115 342.826
(6.708) (5.105)
225.465
111,800
73,142
410,407
337,721
ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR
Unrestrl¢t
General
Fund
Unregtrleted Restrleted
Deslgnated
Funds
Fund$
TotAI
Fund5
2020
Total
Funds
2019
CuTr¢nl Assets
cu￿¢Tr¢ Li4bilitieA
122.212
(3.307)
117200
(1,799)
103,414
342,B26 341,707
(5,105) (6,717)
118.906
115,401
103.414
337,721 334.990
9. EMPLOYEES
There were no employtts during the year {2020-nil).
10.TRUSTEES AND CONNECTED PARTY TRANSAcfIoNS
There were no tNstee expenses reimbursed during the perlod (2020- nil).
There was Do trustee remuneration paid during ihe period {2020- nil).
U M Morris5ey is a director and trustee of Th¢ Gftbriel Fund to which the ¢harity paid £nil during the year in
5at15faction of the school's rental obligations to The Gabriel Fwid (2020.. £93.750).
Page 14