Registered Charity Number: 1055718
THE ARCHANGEL TRUST
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE ARCHANGEL TRUST
Contents
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|REFERENCE AND|ADMINISTRATIVE|DETAILS|........c:ccsccsesscsssscscsssssesessesscssessesvssrsvssesessesesteseesereseeeeceeesces..|
|TRUSTEES!|REPORT........ssecssssesessscecaessessesesaesassecucetidal|pJOUDl|cast|upbatiallstiseissisicaeoseocaroneeeseseeeoepeenemecoyeeess|2|
|INDEPENDENT EXAMINER’S|REPORT..........sssessessesesscssessesseessssereessereesesarsssssseatssserssesspessarseereereesseseceeee..5|
|STATEMENT OF FINANCIAL ACTIVITIES. ........:sscsesesscssessececssesecsesreeseesesseessssrsansareararsseseasearsaversereaveseeseesees 6|
|BALANCE|SHEET........csscssescesseesesssesesscnesssssessesesucsscssssssasarsetsarssearsanssuaneesesameareessesaversarsaresveresseassscesceseee.|3|
|PRINCIPAL ACCOUNTING|POLICIES|.........:ccsccsessssesuesvsesessesesrearsussuentsnesussucanesvarcarasssvavareaversavavesvavescesesvesee 9)|
|NOTES TO THE|FINANCIAL STATEMENTS.|........essessesessessecsnssessessessssvesuserceuessearearsavesssssaveavaseasesvercesceveesee|1.2|
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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 AS Ghobadian
Charity Address
St Michael's Catholic Grammar School Nether Street North Finchley London N12 7NJ
Independent Examiner
Affinia (Orpington) Lynwood House Crofton Road Orpington Kent BR6 8QE
Bankers
Lloyds Bank Plc 841 High Street North Finchley London N12 8PX
Bank of Ireland PO Box 13949 Birmingham B2 2GB
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THE ARCHANGEL TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report and the financial statements for the year ended 31 March 2025. 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 Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”.
Structure, governance and management
The trustees during the year were as follows:
R Tichborne (Chair)
D Giacon U M Morrissey C Blunt A Walsh T O'Shea F Ajibade AS Ghobadian
Training for new trustees is available if required. During 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 to the trustees. Trustees are responsible for taking all strategic decisions and for monitoring the implementation thereof. The charity is administered by a 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's address is St Michael's Catholic Grammar School, Nether Street, North Finchley, London, N12 7NJ.
The object ofthe 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, other friends of the school and from capital grants which it applies to its object.
Statement of trustees’ responsibilities
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 Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and ofthe incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently.
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- observe the methods and principles in the Charities SORP FRS102. - make judgements and estimates that are reasonable and prudent.
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THE ARCHANGEL TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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- 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 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions ofthe trust deed. They are also responsible for safeguarding the 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 that the charity’s activities have been for the public benefit.
Review of progress, achievements and plans for future periods
The charity donated £200,000 (2024: £244,690) to the school to support the school with its budget objectives.
Future plans are to continue fundraising from parental and other donations to enable support to the school to be maintained at similar levels.
Financial review
The attached financial statements show the state of the charity’s finances. There was a surplus in the year of £44,605 (2024: £(38,566)). Accumulated reserves on 31 March 2025 total £788,118 (2024: £743,513), which includes restricted funds of £122,866 (2024: £104,521), a designated fund of £nil (2024: £119,800) and a general unrestricted fund of £665.252 (2024: £519,192). The purpose of each fund is described in note 4 to the accounts.
Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis of accounting in preparing the financial statements.
Policy on reserves
The trustees’ policy on reserve levels is as follows:
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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.
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b) Trustees have designated all other unrestricted surplus funds to be used for the school’s capital and other projects.
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THE ARCHANGEL TRUST
TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)
Risk Management
The major risks to which the charity is exposed, as identified by trustees, have been reviewed and systems and procedures have been established to manage those risks.
Approved by the Trustees on _NA/2S
and signed on their behalf by:
R Tichborne (Chair of Trustees)
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28 November 2025 Dated)......ccccceccessesceseeeeeceecseesetseens
THE ARCHANGEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted funds | Restricted | Total Total |
||
|---|---|---|---|---|
| funds | funds funds |
|||
| Note | General Designated |
General | 2025 2024 |
|
| £ £ |
£ | £ £ |
||
| Income from: | ||||
| Donations and legacies Activities forgenerating |
1 | 217,895 . 3,876 - |
3,000 - |
220,895 187,759 3,876 - |
| funds | ||||
| Investments— Bank interest | 2,051 - |
- | 2,051 67 |
|
| DfE Grants Total income |
- - 21,263 21,263 21,634 ESN LOS LA,OSG 223,822 - 24,263 248,085 209,460 ENF EDU |
|||
| Expenditure on: | ||||
| Charitable activities Total expenditure |
2 | 197,366 - 6,114 203,480 248,026 ae EMS AOU £46,020 © 197,336 - 6,114 203,480 248,026 ee te hl be |
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| Net incoming (outgoing) resources before transfers |
26,486 - |
18,149 | 5,234 (38,566) |
|
| Grosstransfers between | 5 | 119,604 {119,800) |
196 | - - |
| funds | ||||
| Netmovement infunds | Nee eee. 146,090 (119,800) 18,345 44,635 (38,566) HF N98,900) |
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| Total funds broughtforward | 5 | 519,192 119,800 |
104,521 | 743,513 782,079 |
| Total funds carriedforward | 5 | ee 665,282 - 122,866 788,148 743,513 a a heaee ee |
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THE ARCHANGEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
| Comparative | Year Information: Year | Year Information: Year | Ended 31 | March 2024 | March 2024 | |
|---|---|---|---|---|---|---|
| Unrestricted funds | Restricted | Total funds | ||||
| funds | ||||||
| Note | General | Designated | General | 2024 | ||
| £ | £ | £ | £ | |||
| Income from: | ||||||
| Donations and legacies | 184,759 | - | 3,000 | 187,759 | ||
| Activities for generatingfunds | 1 | . | - | - | - | |
| Investments — Bank interest | 67 | - | - | 67 | ||
| DfE Grants | - | - | 21,634 | 21,634 | ||
| Total income | 184,826 | - | 24,634 | 209,460 | ||
| Expenditure on: | ||||||
| Charitable activities | 2 | 203,336 | - | 44,690 | 248,026 | |
| Total expenditure | 203,336 | - | 44,690 | 248,026 | ||
| Net incoming (outgoing) | (18,510) | - | (20,056) | (38,566) | ||
| resources before transfers | ||||||
| Grosstransfers betweenfunds | 5 | (7,682) | 8,000 | (318) | - | |
| Netmovement infunds | (26,192) | 8,000 | (20,374) | (38,566) | ||
| Total funds brought forward | 5 | 545,384 | 111,800 | 124,895 | 782,079 | |
| Totalfundscarriedforward | 5 | 519,192 | 119,800 | 104,521 | 743,513 |
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THE ARCHANGEL TRUST
BALANCE SHEET
AT 31 MARCH 2025
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Note 2025 2024
£ £ £ £
Fixed assets
Tangible Assets = -
Current Assets
Debtors 5 39,371 41,622
Cash at Bank and in Hand 761,083 710,747
800,454 752,369
Current liabilities
Creditors: amounts falling due 6
withing one year (12,336) (8,856)
Total net assets 788,118 743,513
aSowe
Funds of the Charity:
Restricted funds 4 122,866 104,521
Unrestricted funds
General 4 665,282 519192
Designated 4 - 119,800
Total funds 788,148 743,513
aSSS ea Ee a
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The notes on pages 12 to 13 form part of these accounts.
Approved by the Trustees on WU Novem ba 2022S
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U M Morrisey (Trustee)
/7 ea
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R Tichborne (Chair of Trustees)
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THE ARCHANGEL TRUST
PRINCIPAL ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2025
(a) Basis of Preparation
These accounts have been prepared in accordance with FRS 102 “The 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 applies from 1 January 2015. 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)
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees’ continue to adopt the going concern basis of accounting in preparing the accounts.
(c)
Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees 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 are funds which are to be used in accordance with specific restrictions 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.
(d) 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)
Resources Expended
All expenditure (including irrecoverable VAT) is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resources.
(f) Taxation The trust is a registered charity and as such is exempt from corporation tax under the 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 Activities.
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THE ARCHANGEL TRUST
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 MARCH 2025 (Continued)
(g) Governance Costs
Governance costs include costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit and strategic management. Such costs may include both direct and support costs.
(h) Financial instruments
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity’s balance sheet when it becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, 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 transaction 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 operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
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THE ARCHANGEL TRUST
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31 MARCH 2025 (Continued)
(i) Critical accounting estimates and judgements
In the application of the charitable company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of 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.
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THE ARCHANGEL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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|---|---|---|---|---|---|---|---|---|---|---|
|1.|ACTIVITIES|FOR GENERATING|FUNDS|(Unrestricted)|2025|2024|
|£|£|
|Gift|Aid|income|42,656|-|
|Rental|income—|Car|park|-|-|
|Rental|income — Substation|591|-|
|43,247|-|
|2.|CHARITABLE|ACTIVITIES|2025|2024|
|£|£|
|Direct|costs:|
|Donations|to|St|Michael’s|Catholic Grammar school|193,886|200,000|
|Donation|to|Capital|Project|Costs|of above|-|40,069|
|193,886|240,069|
|Support|costs:|
|Administration|expenses|6,114|4,621|
|Governance|costs|3,480|3,336|
|9,594|7,957|
|Total|charitable|expenditure|203,480|248,026|
|3.|GOVERNANCE|COSTS|2025|2024|
|£|£|
|Independent|Examination|Fees|3,480|3,336|
|3,480|3,336|
|4.|MOVEMENT|IN|FUNDS|Balance|at|Income|Expenditure|Gains,|Balance|at|
|1|April|2024|losses and|31|March|
|transfers|2025|
|£|£|£|£|£|
|Unrestricted|funds|
|General|519,192|223,822|(197,366)|119,604|665,252|
|Designated|119,800|-|-|(119,800)|-|
|Restricted|funds|
|Capital|projects|91,815|21,263|.|-|113,078|
|Other|schoo!|projects|arNAO,743,51312,706 EE3,000|(6,114)|196|9,788AO|
|a|Nt248,085Dec|(203,480)ccd hh|-|788,118ld|
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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 by the charity for particular purposes. Funds of £113,078 are to be applied to School capital projects. In addition, £9,788 remained unspent from the LET fund.
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THE ARCHANGEL TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (Continued)
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|---|---|---|---|---|---|---|---|---|---|---|
|MOVEMENT|IN|FUNDS —|PRIOR|Balance|at|Income|Expenditure|Gains,|Balance|at|
|YEAR|1|April|2023|losses|and|31|March|
|transfers|2024|
|£|£|£|£|£|
|Unrestricted|funds|
|General|545,384|184,826|(203,336)|(7,682)|519,192|
|Designated|111,800|-|-|8,000|119,800|
|Restricted|funds|
|Capital|projects|110,250|21,634|(40,069)|-|91,815|
|Other school|projects|14,645|3,000|(4,621)|(318)|12,706|
|782,079|209,460|(248,026)|-|743,513|
|5.|DEBTORS|2025|2024|
|£|£|
|Gift|Aid|tax|recoverable|39,371|‘|41,622|
|39,371|41,622|
|6.|CREDITORS:|Amounts|falling due|within|one year|2025|2024|
|£|£|
|Other|creditors|12,336|8,856|
|12,336|8,856|
|7.|ANALYSIS|OF|NET|ASSETS|Restricted|Unrestricted|Unrestricted|Total|
|BETWEEN|FUNDS|fund|General|fund|Designated|2025|
|fund|
|£|£|£|£|
|Current|assets|122,866|677,588|-|800,454|
|Current|liabilities|-|(13,336)|-|(12,336)|
|Net Assets|122,366|664,252|-|788,118|
|ANALYSIS|OF|NET|ASSETS|Restricted|Unrestricted|Unrestricted|Total|
|BETWEEN|FUNDS ~|PRIOR YEAR|fund|General|fund|Designated|2024|
|fund|
|£|£|£|£|
|Current|assets|104,716|527,853|119,800|752,369|
|Current|liabilities|.|(8,856)|-|(8,856)|
|Net Assets|104,716|518,997|119,800|743,513|
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8. EMPLOYEES
There were no employees during the year (2024 — nil).
9. TRUSTEE AND CONNECTED PARTY TRANSACTIONS
There were no trustee expenses or remuneration paid during the period (2024 — nil). There were no related party transactions during the year (2024 — nil).
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