Reglstered Charity Number: 1055718
THE ARCHANGEL TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE ARCHANGEL TRUST
Contents
REFERENCE AND ADMINISTRATIVE DETAILS ......................................................... . ..............................
TRUSTEES, REPORT...... ..
INDEPENDENT EXAMINER'S REPORT......................................................................................................
STATEMENT OF FINANCIAL ACTIVITIES....................................................... ...
BALANCE SHEET............................................................................. .. ....... ..
PRINCIPAL ACCOUNTING POLICIES.................... .....
NOTES TO THE FINANCIAL STATEMENTS... . ..
.12

THE ARCHANGEL TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Number
1055718
Trustees
R Tichborne {Chair)
D Giacon
U M Morrissey
A Walsh
F Ajibade
C Blunt
T O'shea
Charity Address
St Michael's Catholic Grammar School
Nether Street
North Finchley
London N12 7NJ
Independent Examiner
Baxter & Co
Lynwood House
Crofton Road
Orpington
Kent 8R6 8QE
Bankers
Lloyds Bank PIC
841 High Street
North Finchley
London N12 8PX
Bank of Ireland
PO Box 13949
Birmingham
B2 2GB

THE ARCHANGEL TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and the financial statements for the year ended 31 March 2024. The
accounts have been prepared in accordance with the accounting policies set out on pages 9 to 11 of the
accounts and comply with the Trust Deed, the Charities Act 2011 and "Accounting and Reporting by
Charities: Statement of Recommended Practtce applicable to charities preparing their accounts in
accordance with the Financial Reportin8Standard applicable in the UK and Republic of Ireland IFRS 1021
(effective l January 2019)".
Structure* governance and management
The trustee5 during the year were as follows:
R Tichborne (Chair)
D Giacon
U M Morrissey
C Blunt
A Walsh
T O'shea
F Ajibade
Training for new trustees is available if required. Ouring the year the day-to-day management of the
charity was delegated to the Headmaster of St Michael's Catholic Grammar School who reported
regularly tothe trustees. Trustees are responsible fortakingall strategic decisions and for monitoringthe
implementation thereof. The charity is administered bya council of management made up of the above-
named trustees. The charity does not employ any staff directly.
Constitution and objects
The charity was established by Trust Deed dated 24 January 1996 and is registered with the Charity
Commission, No 1055718. The charity'saddress is St Michael's Catholic Grammarschool, Netherstreet,
North Finchley. London, N12 7NJ.
The object of the charity is to promote and advance the education of students of St Michael's Catholic
Grammar School. The charity raises funds from parents, ex-pupils, otherfriends of the school and from
capital grants which it applies to its object.
Statement of trustees. responsibllfrtles
The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accountin8 Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial
statementsfor each financial yearwhich give a true and fairview of the state of affairs of the charity and
of the incoming resources and application of resources of the charityforthat period. In preparingthese
financial statements, the trustees are required to:
selert suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP FRSIO2.
make judgements and estimates that are reasonable and prudent.

THE ARCHANGEL TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)
state whetherapplicable UK Accounting Standards have been followed, subjecttoany material
departures disclosed and explained in the financial statements. and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue to operate.
The trustees are responsible for keeptng 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, the Charity {Accounts and Reports) Regulations 2008 and
the provisions of the trust deed. They are also responsible forsafeguardingthe assets of the charity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Public benefit statement
In setting the charity's objectives, the Trustees have given careful consideration to the Charity
Commission's general guidance on public benefit. Trustees are satisfied thatthe charivs activities have
been for the public benefit.
Review of progress. achievements and plans for future periods
The charity donated £244.69012023: £nil) tothe schoolto supportthe school with its budgetobjective5.
Future plans are to continue fundraising from parental and other donations to enable sUPPOrt to the
school to be maintained at similar levels.
Flnanclal review
The attached financial statements showthe state of the chariwsfinances. Therewas a deficit in theyear
of1£38,566} (2023: £264,580}. Accumulated reserves on 31 March 2024total £743,513 {2023: £782,079),
which includes restricted funds of £104.521 (2023: £125,091), a designated fund of £119,80012023..
£111,800) and a general unrestricted fund of £519.192 (2023: £545,188). The purpose of each fund is
described in note 5 to the accounts.
Going con￿rn
After making appropriate enquiries. the trustees have a reasonable expettation that the charity has
adequate resourcesto continue in operational existence forthe fore5eeablefuture. Forthis reason.they
continue to adopt the going concern basis of accounting in preparing the financial statements.
Policy on reseThes
The trustees, policy on reserve levels is as follows:
a) Restricted funds should not be allowed to accumulate significant sums and will normally be
spent within the financial year on the specific purpose for which the funds are restricted.
Occasionally, the timing of grant and other receipts may result in a balance at year end and
these are expected to be spent the following financial year when they arise.
b) Trustees have designated all other unrestricted surplusfundsto be used forthe school's capital
and other projects.

THE ARCHANGEL TRUST
TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)
Rlsk Management
The major risks to which the chartty is exposed. as identified by trustees, have been reviewed and
systems and procedures have been establtshed to manage those risks.
Approved by the Trustees on ...20 . 0( . . and signed on their behalf by:
R Tichborne (Chair of Trustees)

THE ARCHANGEL TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ARCHANGEL TRUST
I report to the Trustees on my examination of the financial statements of The Archangel Trust (the
charity) for the year ended 31 March 2024.
Responslblllties and basls of report
As the charity'5 trustees. you are responsible forthe preparation of the accounts in accordance with the
requirements of the Charities Act 20111.the ACV).
I report in respect of my examination of the Trusys accounts carried out under section 145 of the 2011
Act and in carrying out my examination. I have followed all the applicable Directions given bythe Charity
Commission under section 14515){bl of the Art.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination which gives me cause to believe that in. any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or
the 3ccounts did not accord with the accounting records; or
the accounts did not complywith the applicable requirements cOn￿rningthef0rrn and content
of accounts set out in the Charities {Accounts and Reports) Regulations 2CQ8 other than any
requirement that the accounts give a 'true and fairf view which is not a matter considered as
part of an independent examination.
I have no concerns and have come acro55 no other matters in connection with the examination to which
attention should be drawn in this report in orderto enable a properunderstanding of theaccountsto be
reached
Louise Hallsworth FCA
For and on behalf of Baxter & Co
Chartered Accountants
Lynwood House
Crofton Road
Orpington
BR6 8QE
Dated.. 24 January. 2025

THE ARCHANGEL TRUST
STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrirted funds
Restricted
funds
General
Total
funds
2024
Total
funds
2023
Note
General Deslgnated
Income from:
Donations and legacie5
Activities for generating funds
Investments- Bank interest
DfE Grants
Total income
184.759
3,000
187,759
209,152
67
67
21,634
209,460
21,634
24.634
60,804
269.956
184.826
Expenditure on:
Charitable activities
Total expenditure
203,336
203.336
44,690
44.690
248,026
248,026
5,377
5,377
Net incoming (outgoing)
resources before transfers
{18,510)
{20.056)
{38,566)
264,580
Gross transfers between
funds
(7,682)
(318)
Net movement in funds
126,192)
(20,374)
(38,566)
264,580
Total funds brought forward
545,384
111,800
124,895
782,079
517,499
Total funds carried forward
519.192
119.81x1
104.521
743,513
782,079

THE ARCHANGEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Comparative Year Information: Year Ended 31 March 2023
Unrestrlrted funds
Restrlcted Total funds
funds
General
Note
General
Designated
2023
Income from:
Donations and legacies
Activities for generating funds
Investments- Bank interest
DfE Grants
Total income
209,152
209,152
60,804
60,804
269,956
209.152
Expendlture on:
Charitable activities
Total expenditure
3.180
3,180
2,196
2.196
5,377
5.377
Net Incomlng (outgoing)
resources before transfers
205.972
58,608
264,580
Gross transfers between funds
Net movement In funds
205.972
58.608
264,580
Total funds brought forward
339,412
111.800
66,287
517,499
Total fund5 carried forward
545,384
111,800
124,895
782,079

THE ARCHANGEL TRUST
BALANCE SHEET
AT 31 MARCH 2024
Note
2024
2023
Flxed assets
Tangible Assets
Current Assets
Debtors
Cash at Bank and in Hand
41.622
710,747
41,622
745,977
752,369
787,599
Current liabilities
Creditors: amounts falling due
withing one year
(8,856)
(5,5201
Total net assets
743.513
782,079
Funds of the Charity:
Restricted funds
Unrestricted funds
General
Designated
104,521
125,091
519192
119,800
545,188
111,800
Total funds
743.513
782,079
The notes on pages 12 to 13 form part of these accounts.
Approved by the Trustees on .
U M Morrisey (Trustee)
R Tichborne (Chair of Trustees)

THE ARCHANGEL TRUST
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 MARCH 2024
la}
Basis of Preparation
These accounts have been prepared tn accordance with FRS 102 Yhe Financial Reporting
Standard applicable in the UK and Republic of Ireland" ("FRS 102"),"Accounting and Reporting
by Charities" the Statement of Recommended Practice for charities applying FRS 102 and UK
Generally Accepted Accounting Practice as it appliesfrom lJanuary2015. The charity is a Public
Benefit Entity as defined by FRS 102.
The accounts have been prepared on the historical cost convention. The principal accounting
policies adopted are set out below.
(b)
Golng concern
At the time of approving the accounts. the Trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existencefor the foreseeable future.
Thus the Trustees, continue to adopt the going concern basis of accounting in preparing the
accounts.
Fund Accounting
General funds are unrestricted funds which are available for use atthediscretion of thetrustees
in furtherance of the general objectives of the charity and which have not been designated for
other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for
particular purposes.
Restricted funds arefundswhich are to be used in accordance with specific restrittions imposed
by the donors or which have been raised by the charity for particular purposes.
The aim and use of each fund is set out in the notes to the financial statements.
{dl
Income
Income is recognised when the charity is legally entitled to it after any performance conditions
have been met. the amounts can be measured reliably, and it is probable that income will be
received.
(e)
ReSoUr￿S Expended
All expenditure (including irrecoverableVAT) is accounted foron an accruals basis and has been
classified under headings that aggregate all costs related tothe category. Where c05tscannot be
directly attributed to particular headings. they have been allocated to activities on a basis
consistent with use of the resources.
Taxation
The trust is a registered charity and as such is exempt from corporation tax underthe provisions
of the Income and Corporation Taxes Act 1988 to the extent that it is applied to its charitable
objectives. The cost of irrecoverable VAT incurred has been included in the Statement of
Financial Activtties.

THE ARCHANGEL TRUST
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 MARCH 2024 (Continued)
(gl
Governance Costs
Governance costs include costs attributabletothe chariws compliancewith constitutional and
statutory requirements. including audtt and strategic management. Such costs may include both
direct and support costs.
(h)
Financial instruments
The charitable company has elected to apply the provtsions of Section 11 'Basic Financial
Instruments, and Section 12'0ther Financial Instruments Issues, of FRS 102to all of its financial
instruments.
Financial instruments are recognised in the chariwsbalancesheetwhen it becomes partytothe
contractual provisions of the instrument.
Basic financial assets
Basic financial assets. which include debtors and cash and bankbalances, are initially measured
at transaction price. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at tran53Ction
price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the
ordinary course of operationsfrom suppliers.Amounts payable areclassified as current liabilities
if payment is due within one year or less.
101 Page

THE ARCHANGEL TRUST
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 MARCH 2024 (Continued)
Critical accounting estimates and judgements
In the application of the charitable companvs accounting policies, the Trustees are required to
makejudgements, estimates and assurnptions aboutthe carrying amountof assets and liabilities
that are not readily apparent from other sources. The estimates and associated assumptions are
based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the
revision affects only that period. or in the period of the revision and future periods where the
revision affects both current and future periods.
11 I Page

THE ARCHANGEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
l. AcrivrriES FOR GENERATING FUND5 (Unrestrirted)
2024
2023
Rental income- Car park
Rental income- Substation
2. CHARITABLE ACtIVlTIES
2024
2023
Dlrect costs:
Donations to St Michael's Catholic Grammar school
Donation to Capital Project Costs of above
200,000
40,069
240,069
Support costs:
Administration expenses
Governance costs
4,621
3,336
7,957
2,197
3,180
5,377
Total charitable expenditure
248,026
5,377
3. GOVERNANCE COSTS
2024
2023
Independent Examination Fees
3,336
3,336
3,180
3,180
4. MOVEMENT IN FUNDS
Balan￿ at
l April 2023
Income
Expenditure
Gains,
losses and
transfers
Balan￿ at
31 March
2024
Unrestricted funds
General
Designated
Restrirted fund5
Capital projects
Other school projects
545,384
111.800
184,826
(203,336)
{7,682)
8,000
519,192
119,800
110.250
14,645
782.079
21.634
3.000
209,460
(40,069)
14,621)
(248,OZ6)
91,815
12.706
743,513
(318)
General funds are unrestricted funds that are available for use at the discretion of the trustees for the
furtherance of the general objectives of the charity
Designated funds are unrestricted funds that trustees have earmarked for specific purposes.
Restricted funds are funds which are to be used in accordance with Specific restrictions imposed by the
donors or which have been raised bythe charityfor particular purposes. Funds of £91.815 areto be applied
to School capital projerts. In addition. £12,706 rernained unspent from the fund.
121 Page

THE ARCHANGEL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (Contlnued)
MOVEMENT IN FUNDS- PRIOR
YEAR
Balance at
l April 2022
Income
Expenditure
Gains,
losses and
transfers
Balance at
31 March
2023
Unrestricted funds
General
Designated
Restrlcted funds
Capital projects
Other school projects
339,412
111.800
209,152
(3.180)
545,384
111,800
49,446
16,841
517,499
60,804
110,250
14,645
782,079
12,196)
(5,3771
269.956
2023
5. DEBTORS
2024
Gift Aid tax recoverable
41,622
41,622
41,622
41,622
6. CREDITORS: Amounts falling due within one year
2024
2023
Other creditors
8,856
8,856
5,520
5,520
7.ANALYSIS OF NEf ASSETS
BETWEEN FUNDS
Restricted
fund
Unrestricted
General fund
Unrestricted
Designated
fund
Total
2024
527,853
(8,856)
518,997
119,800
752,369
18,856)
743.513
Current assets
Current liabilities
Net A5setS
104.716
104,716
119.800
ANALYSIS OF NEf ASSErs
BETWEEN FUNDS- PRIOR YEAR
Restricted
fund
UnrestrScted
General fund
Unrestricted
Designated
fund
Total
2023
787,599
(5,520)
782,079
Current assets
Current liabilities
Net Assets
125,091
550,708
(5,520)
545.188
111,800
125.091
111,800
8. EMPLOYEES
There were no employees during the year (2023- nil).
9. TRUSTEE AND CONNECTED PARTYThANSAclloNS
There were no trustee expense5 or remuneration paid during the period (2023- nil).
There were no related party transactions during the year12023- nil).
131 Page