Registered Charity Number: 1055718
THE ARCHANGEL TRUST
FINANCIAL STATEME￿'T5
2022

THE ARCHANGEL TRUST
OFFICERS AI%D AD￿'IsoRs
Regibtered Charity Number
1055718
Trustees
R Tichborne (Chair)
D Giacon
U M Morrissey
A Il'alsh
F Ajibade
C Blunl
T O'shea
Chariry Address
St Michael's Catholic Grammar S¢hool
Nether Strcet
North Finihley
London N12 7NJ
Indcpend¢nt Examincr
Baxter & Co
Lynwood House
Crofion Road
Orpingion
Kcnt BR6 8QE
Bankers
Lloyds Bank PIC
841 High Street
North Finlhley
London Nl 2 8PX
Bank of Ireland
PO Box 13949
Binningham
B2 2GB
Page I

THE ARCHANGEL TRUST
TRUSTEES, REPORT FOR THE YEAR EliDED 31 MARCH 2022
The trustees prcscnt Iheir report and ihe financial 51at¢rnenis for the year ended 31 March 2022. The
accounts have been prepared in accordance with the accouniing policies set oui on pages 8 to 10 of the
accounis and comply wilh Ihe Trust Deed, the Charitics Aci 2011 and "Accounting and Rcporting by
Charities.. Staiemcnt of Re¢ornmended Practi¢e applicable io ¢harities prcparing* their accounts in
ac¢ordancc with lh¢ Financial Reporting Standard applicablc in the UK and Republic of Ireland (FRS 102)
(effective l January 2015)"
Structure, governanee and management
The trustees during the year were as follows..
R Tichbome (Chair)
U M Morrissey
A Walsh
F Ajibade
D Giacon
C Blunt
T O'shea
Training for new trustees is available if required. During the year the day to day management of the
charity was delegat¢d io Ihe Headmaster of St Michael's Catholic Grammar S¢hool who reported regularly
to the Iwstees. Trust¢es are responsible for laking all sirdtegic decisions and for monitoring the
implementation iher¢of. Thc chariry is administcred by a council of managemcnt illade up of the above
namcd tNstees. The ¢harity docs noi employ any siaff directly.
Con5ti¢ution and objects
The charily was established by Trusi Deed dat￿ 24 January 1996 and is registercd with the Charity
Commission, No 1055718. The cbarity's address is Si Mi¢hael's Catholic Grammar School, Nether Street,
North Finchley, London, N12 7NJ.
Th¢ object of the Charity is to promote and advance the cducaiion of studcnls of 5t Michael's Caiholi¢
Grammar SLhool. Th¢ Charity raises funds from parents, ex-pupils. othcr friends of the school and from
capital grdnts which li applies lo ils object.
Statement of trustee5' responsibililies
The trustees are responsible lor preparing the Trustec5' Annual Report and the financial statements in
accordance with applicable law and Llnited King¥dom Accounting Standards (United Kingdom Generally
Accepted Ac¢ounting Pra¢tice).
The law applicable io charities in England and Wales requires the trnstees to prepare financial statemenis
for each financial year iN'hich give a trne and fair view of the siaie of affairs of lh¢ charity and ol the
incoming resources and applicaiion ofi¢sources of thc Chariiy forthai peri(Trd. In preparing these financial
slatcm¢nis, thc truste¢s are requircd io".
sele¢1 suiiable a¢iouniing policies and thcn apply them consistently,.
observe ihe methods and principl¢s in the Ch&riii¢s SORP:
make Judgcnicnis and eslimates that arc rcasonable and prudent;
siar¢ whethcr applicable UK Accouniing Siandards haN'e bccn folloived, subjcct io any material
departurcs discloscd and explained in ihc financial statcments- and
prepare the financial sta¢¢m¢nts on ihc going concern basis unless it is inappropriate to presume
that the charity will continue to opernie.
The trustees are responsible for k¢eping proper accounting ￿COrdS ihat disclose with reasonable a¢¢uwy
at any time ihe financial p()sition of the iharity and cnable them 10 ensure that ihe financial giarements
comply with the Charities Act 2011. the Ch2riry (Accounis and Repons) Regulaiions 2008 and (he
provisions of the trust deed. They are also responsible lor sale&buarding the assets of ihe charity and hence
tor taking rcasonable steps for the prevention and detection of fraud and other irregularities.
Page 2

THE ARCHANGEL TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2022 (continued)
Public benefit statement
sctting the charity's objeciiN'es, the Trustccs have giN'en careful consideration io the Charity
Commission's gencral guidance on public benefjt. Trnstees arc 5alisficd that the ¢hariry's activilies have
b¢en for the public bcnefil.
Review of progress achievements and plans for future periods
The charily donaied £155,896 (2021= £196,369) lo ihe school io support the school with ils budget
objectives.
Fuwre plans are io continue fundraising from parental and other donations lo enable support io the school
to be maintained at similar lel'els.
Flnancial review
The allached tin)n¢ial statements show the state of the ch3riry's finances. Th¢re was a surplus in thc year
of £106,402 (2021: £72,686}. Accumulaied reserves at 31 March 2022 total £519,809 (2021.. £410.407},
which includes restricted funds of £66,287 (2021: £73,142), a designatcd fund of £ 111,800 {2021.'
£111,800) and a g¢neral unrestricted fund of £338,722 (2021.. £225,465). The purpose of each fund is
des¢ribed in note 5 io the accoutkls.
Going concern
Afier Inaking appropriate cnquiries, tbe Irusttts hawe a reasonablc CTpe¢iation that the chariiy has
adequatc rcsour¢¢s io continue in operntional cxis¢en¢e for thL forcsccable fuiure. For ihis reason, they
ontinue to adopi the going con¢¢rn basis of accounling in preparing thc financial siatemcntb.
Policy on re$erves
The irusi¢eb' ￿lIcY on resetve levels is as follows..
a) Restrictcd funds should not bc allowed to accumulatc significani sums and ￿,111 nvtmally be spent
within the financial year on thc specifiL purpose for which the funds are re5tricied. O¢¢asionally.
the timing of grant and oiher receipts may result in a balance ai year cnd and these are exp¢cted io
be spent the following financial year ￿"hen ihey arise.
b) Trustees have designated all othcr unresiricied surplus funds to be used for the school's capital
and other projects.
Risk Management
The major risks to which lh¢ charity is exposed, as identified by tyusiees, have been reviewed and systems
and procedures have been established to manage ihose risks.
Approved by the Trnstees on .11 J &v*. 2 o l_) and signed on their bchalf by..
U M Morrissey (Trustee)
Page 3

INDEPENDENT EXAfill.NER'S REPORT TO THE TRUSTEES OF
THE ARCHANGEL TRUST (Continued)
I report to ihe Trnsiecs, on my examiiiaiion ol the financial statcmcnts of The Archangcl TTUSt (the
charity) for the year cndcd 3 1 March 202?
Re$ponslblllties and basls of reporl
The trustees are responsible for the preparation of ihc fina¥Jcial siaiements. Thc charity's trustccs consider
that an audit is not required for this year under seciion 144 of th¢ Charities A¢t 2011 (the Charities Aci}
and that an independent examination is needed.
It is my responsibility lo..
examine the financial statemenis under section 145 of the Charities Act,
ro follow the procedures laid down in th¢ general Direction8 given by the Chariry Commission
(und¢r s¢ciion 145{51(b) of the Charilies Act. and
to siare whether particular matters have come to my atieniion
My eX￿nination ￿'aS carricd oui in accordance ii'irh general Dire¢iions giNen by the Charity Coinmission.
An examinalion includes a review of the accouniing records kcpi by (he charity and a comparison of the
tinanrial statemcnt% presented ￿'1(h ihose records_ li also includes consideration of any unusual itcms or
disclosures in the financial stsiements and seeking explanaiions from the trustees concerning any such
Tnatters. The procedures undertaken do not proi'ide all the ¢Yidence Ihat ￿QUId be required in an audit.
and consequently no opinion is gii'cn as io whethcr ihe a¢counts prcsent a 'true and fair, view and the
report is limited to those matlcrs s¢1 out in thc staternent below.
Independent examiner's Statement
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by
being a qUdlifi¢d membcr of ICAEW.
I have completed my examination_ I confirnj thai no matters have come to my attcntion in connection with
thc examination giving me cause io belicvc thai in any matcrial respect..
accounting re¢ords were not kepl in respect of the charity as required by seciion 386 of ihe 2006
2 the financial statements do not accord with ihose records. or
3 the financial statemenis do not comply with the accounting requirements of section 396 of the 2006
Act other ihan any requirement ihai the accounts give a Irue and fair ￿leW w'hich is not a matter
considered as part of an independcDt examination. or
4 the finan¢ial staiemenis have not been prepared in accordance with ihe meihods and principles of ihe
Stateineni of Recommended Practice for accouniing and reporling by charities applicable to chariii¢s
preparing iheir accounts Ill accordance with th¢ Financial Reporting Siandard applicable in the UK and
Republic of Ircland IFRS 1021.
I have no concerns and have Come across no other matters in connection wilh tbe examination to which
attcnfion should bc drdwn in this re￿)rt in order io enablc J proper undcr5tanding of the financial
statements to be rea¢hed.
Loui5¢ Hallsworth F"CA
For and on behalf of B￿ter & Co
Chartcrcd Certified Accountants
Lynwood House
Crofton Road
Orpington
BR6 8QE
Dal¢d.. 27 January 2023
Page 4

Page 5

THE ARCHANCEL TRUST
STATEMENT OF FINANCIAL ACTII'ITIES
FOR THE YEAR ENDED 31 MARCH 2022
Unresirleted
General Designated
Fund
Fund
Restri¢t¢d
Fund
Tolal
2022
Total
2021
Note
Infome from:
Donations and Legacies
A¢tii'ities for Generating Funds
Investm¢nts- Bank InTerest
DfE Grants
244,681
2,693
901
245,582
2.693
255,973
4,433
19,386
19,386
18,529
Total Income
247J74
20287
267,661
278,936
Expenditure on:
Charitable Activities
133,427
27,142
160.569
206,250
Total Expenditure
133.427
27,142
160.569
206,250
Net Incomlng (Ouigoing) Resoure¢s
¢fore Transfers
Gross Transfers Between Funds
113,947
{6,855)
107.092
72,686
Net Movement in Fund$
113,947
(6,855)
107,092
72,686
Total Funds Brought Forward
225,465
111,800
73,142
410,407
337.721
Total Funds Carried Fonvard
339.412
111,800
66.287
517,499
410,407
Page 6

THE ARCHANGEL TRUST
STATEMENT OF FINAN'CIAL ACTII'ITIES
FOR THE YEAR EIYDED 31 IIIARCH 2022
SLPPLEMENTARY NOTE:
Comparative Information lor the Year Ended 31 March 2021
Llnrestrlcied
Restricted
General Designated Fund
Fund
Fund
Total
2021
Note
Income from:
Donations and Lega¢i¢s
Actii'ities for Generdting Funds
In&estnienis - Bank Inter¢sl
Capital Grants {DtE)
247,859
4.433
1,546
6.568
255,973
4,433
18,529
18,529
Total Income
252.293
1.546
25,097
278,936
Expendlture on:
Charitable Activities
139,881
3,500
62,869
206,250
Total Expenditure
139.881
3.500
66,369
206,250
Net Incoming (Outgoing) Resources
Before Transfers
12,412
{1.954) (37,772)
72.686
Gross TTansfers Between Funds
(5.853)
{1.6471
7.500
Net Movement ill Funds
106.559
(3,601) (30,272)
72,686
Total Funds Brought Fonvard
118.906
115,401
103,414
337,721
Totol Funds Carried Fornard
225,465
111,800
73,142
410,407
Pag¢ 7

THE ARCHANGEL TRUST
BALANCE SHEET AT 31 ￿lARCH 2022
2022
2021
Note
Curreni A5set$
Debtors
Cash at Bank and in Hand
41,622
478.217
42.700
374,415
519,839
417,115
Creditors - Amounts falling due within
one year
(2,3401
{6.708)
Net Assets
517.499
410,407
Funds of the Charity:
Reslricied Funds.
Unre5rri¢ted Gcneral
Unr¢5tricted Dcsignated
66,287
339,412
111,800
73,142
225.465
111.800
517.499
410,407
The notes on pages 8 to 12 fomi part of these accounts.
Approved by ihe Trustecs on
U M MorriS￿Y (Trnstec)
D Giacon (TNsiee)
Page 8

THE ARCHANGEL TRUST
PR1￿CIPAL ACCOLYTING POLICIES
FOR THE YEAR EINDED 31 TrIARCH 2022
(a)
Basis of Preparatlon
Thesc accounts havc been prcparcd in accordance wilh FRS 102 "The Financial Rcporting
Standard applicable in the UK and Rcpublic of Ireland" ("FRS 102"),"'Accounting and Reponing
by Charities" the Siaiement of Recommended Practice for ¢hariiies applying FRS 102 and UK
Generally Accepied Accounting Practice as It applies from l January 2015. The charity is a Publi
Benefit Entity as defined by FRS 102.
The aecounls have been prepared on the historical Cost convention. The PTincipal accounting
policies adopted are sei out below.
(b)
CoiDg concern
At the lime of approving the accounts, the Trusi¢¢s have a reasonable expectation that tlie chariiy
has adequate rcsources to CODlinue in opcrational existenec for the foresceable future. Thus the
TTUStees' conlinue io adopi ihe ¥oing conc¢m basis of accounting in preparing ihe accounts.
(c)
Fund Accounting
General funds ar¢ unrestricted fill)ds which ar¢ available forus¢ ai ihe discretion of the trusie¢s in
furtherance of the general obje¢tii'es of the Chariry and M'hich hal'e not been desigiiatcd for other
pury>oses.
D¢signatcd funds comprise unrestricied funds ihat have been set aside by thc lrnstees for
particular purposes.
Restrict¢d funds arc funds which are io be used in accordance with specific restrictions imposed
by the donors or whiLh have been raised by thc chatity for particular purposes.
The aim and use of each fund is set out in the notes lo ihe financial statcm¢nts.
(d)
Income
Income is recognised whcn the charity is legally entitled to li after any perfornianc¢ Conditions
have been met, the aTnounis can bc measured rcliably, and it is probable that income will be
received.
(¢)
Resources Expended
All expenditur¢ {including iffecoi'erdblc VATI is accounted for on an accruals basis and has been
classificd under headings ihat aggregaie all costs relaied to the category. Where oosis cani)ot b¢
dirccily attributcd to particular headiIigs. they have bccn allocaied to aciiN'ities on a basis
consisient with use of Ihe resources.
10
Tax*¢ion
The irnst is a regist¢rcd chariiy and as such is exeii)pt from corporation ￿ undcr thc provisions of
the Inconie and Corporation Taxcs Aci 1988 to ihe ¢xient that it is applicd io its charitable
objectivcs. The cost ol irr¢coverabl¢ VAT incurred has been included in the Sthiement of
Financial Aciivities.
Page 9

THE ARCHANGEL TRUST
PIUNCIPAL ACCOUNTING POLICIES
FOR THE YEAR E.YDED 31 MARCH 2022 (continued)
Ig)
GoN'ernanfe Costs
Govemance costs include ¢osts aitributsble to the charity's complian¢e with constilutional and
statulory requirements, including audit and siraiegi¢ managcmcni. Such costs may include both
direct and support costs.
(h)
Financial illstruments
The charitable company has elected io apply the provisions of Section I I 'Basic Financial
Insinjmenls. and Section 12 '0thcT Financial Instrumenis Issues. of FRS 102 10 all of its financial
instrumenls.
Financial instNments are re¢ognised in ihe Charity's balance sheei when it becomes party to the
contractual provisions of ihe insirument.
Financial assers and liabilitie8 are offsel. Ii'iih Ihe nei amounis presenied in th¢ finanLial
slaiements. when Ihere is a legally ent-orceable righi lo set off the recognised amounts and there is
an intention 10 8eiile on a net basis or io realis¢ the asset and settl¢ the liability simultaneously.
Basic financial asset5
Basic financial asscts. which include dcbiors and cashaiid bank balances. are initially measurcd at
transaction price including transaction costs and are subsequently carricd al amoniscd cost using
the effcclive interest mcthod unless the arrangement constitulcs a financing iransaction, where the
transaction is measurcd ai th¢ prescnl value of the futurc r￿cip(S discountcd at a market rate or
interest. Financial assct5 c13ssified as receivable within one year are noi amortiseil.
Basic financlal liabilitie5
Basic financial liabilities. including creditor5 and bank loans are initially re¢ognised at transaction
pri¢e unless ihe a￿angenient Constitutes a linan¢ing rransaction. where the debi instrument is
measured at the presenl value of ihe furure r¢¢¢ipis discountcd at a market rat¢ of interest.
Finan¥ial liabilitics clLssified as payabl¢ iviihin one year are noi amortised.
Debt instruments are subsequently carried ai amortised cost, using the etTective interest rate
method.
Trade ¢reditOTS are obligations io pay for goods or services thai hav¢ been acquircd in the
ordinar). Course ot'operations froTll suppliers. Amounis payable are classified as curreiit liabilities
if payment is due w'ithin one year or less. If not. they are presented as non-current liabilities.
Trade creditors are recognised iniiially at transaction price and subs¢quently mcasured at
amortised cosi using the cffcctive intercst Tnethod.
Derecognition of financial liabilitles
Financial liabilities are derecognised when thc charitable company's contractual obligations
expire or are dis¢harged or cancelled.
Critlc#l accounting estimates and judgements
In th¢ applicaiion ofihe charitablc Company s accounting policies. the Trustees are required to
m¢ike judgcmcn15. estimates and assumpiions abour ih¢ Carrying amounl of asscts and liabilitics
that are noi readily apparent from othei sources. Thc cstimates and associated assutnplions are
bascd on historical cxperiencc and other factors thal are ¢onsidercd to bc rel¢vant. Actual results
may differ from these estimates.
The eslimatcs and underlying assumptions are reiiewed on an ongoing basis. Revisions lo
accountinb) estimales are recogniscd in the period in ￿"hich the estimate is revised where the
revision aftects only that period, or in ihe peri(Kl of ihe revision aTLd fijture periods where the
revision affects both current and ￿rnre periods.
Page 10

THE ARCHANGEL TRUST
'OTES TO THE FINANCIAL STATE.%IENTS
FOR THE I'EAR E,YDED 31 MARCH 2022 (continued)
ACTIVITIES FOR GENERATING FUI%DS (Unrestricted)
2022
2021
Rental Income- Car Park
Rental Income- Substation
1,740
2,693
2,693
2,693
4,433
CHARITABLE ACTIVITIES
2022
2021
Direit Costs..
Donation to Si Michael's Catholic Grammar School
Donation to Luanda (Kenya}
155,164
732
196,369
155.896
196,369
Support Cosis..
Administration Expcnscs
Govcrnance costs
2.333
2,340
6,491
3,390
160,569
206.250
GOVERNANCE COSTS
2022
2021
Independeni Examinaiion Fees
2.340
3,390
Page 11

THE ARCHANGEL TRUST
NOTES TO THE FIly￿NCIAL STATEMENTS
FOR THE YEAR E.YDED 31 MARCH 2022 (continued)
ANALYSIS OF FUNDS
Balance at
l April
2021
Ineoming
Resources
Resources
Expended
Gains. Losses
& Transfer$
Balance at
31 Thlarch
2022
Unrestricted Fund:
General Fund
De8ignated Funds
Restrieted Fund:
Capital Projects
Other school projects
2?5.465
111.800
247.374
(133,427)
339.417
111,800
55,224
17,918
19,386
(25,164)
(1,9781
49,446
16,841
410,407
267.661
(160.569}
517,499
General funds are unreslri¢ied funds that arc available for use at the discretion of the trustees for ihe
funherancc of ihe general objectives of thc charity
Designated funds ar¢ unrestrictcd funds that trustees havc carmark¢d for specific purpos¢s.
Restricted funds are fimds which are io be used in accordance with specific restrictions imposed by ihc
donors or which have been rdiscd by th¢ chariry for particular purposes. Funds of £49.446 are to be
applied lo S¢hool capilal proj¢¢ts. In addition. £16,841 remained unspcni from the LET fund.
ANALYSIS OF Fu￿DS- PRIOR YEAR
Balanee at
l April
2021)
Incoming
Resources
Resour¢es
EApended
Gains, Losses
& Trans(er5
Balance at
31 ￿larch
2021
Unrestricted Fund:
CFeneral Fund
D¢%i¥nated Funds
Restricted Fund:
Capital Projects
Other school proje¢is
118.906
115.401
252,293
1.546
(139.1181)
(3,500)
(5.853)
(1,647)
225,465
111,800
99,564
3.850
18.529
6,568
(62,869)
55,224
17,918
7,500
337,721
278,936
{206.2501
410.407
2022
2021
DEBTORS
Gift Aid tax re¢overable
41,622
42,700
2022
2021
CREDITORS: Amounts falling due within one year-.
Other Creditors
2.340
6,708
Page 12

THE ARCHANGEL TRUST
OTES TO THE FII%AYCIAL STATEIIIENTS
FOR THE YEAR ENDED 31 MARCH 2022 (continued)
ANALYSIS OF NET ASSETS BETWEEN Fu￿Ds
Unr¢stricied
General
Funds
Ilnrestricted Restricted
Designated
Fulld$
Funds
Total
Funds
2022
Total
Funds
2021
C￿￿¢nt Ass¢ts
Current Liabilities
341.752
(2,340)
111,8(K)
519,839
(2,340)
417,115
(6,708)
339,412
111,800
66,287
519,499
410,407
ANALYSIS OF NET ASSETS BETWEEP¥ Fu￿DS- PRIOR YEAR
Unrestricted
General
Fund5
Unrestricted Restricted
Designated
Funds
Funds
Total
unds
2021
Total
Fund5
2020
Currcnl Assets
Currcnl Liabilities
228,855
(3.390)
111,800
76.460
{3,3181
342.826
(5,105)
(6,7081
225.465
111,800
73.142
410.407
337,721
EMPLOYEES
There werc no ¢mployees during the year (2021-nil).
10. TRUSTEES AND CONLYEcfED PARTY TRANSACTIO.YS
There were no trust¢e expenses reimbursed during the period (2021
There was no trustee remuneraTion paid during the period (2021
nil).
Page 13