St Cecilia's Abbey
Annual Report
Year Ended 31 December 2024

St Cecilia's Abbey
Annual Report
Year Ended 31 December 2024
Contents
Page
Trustees, Report
Independent Auditors, Report to the Trustees
9-11
Statement of Financial Activities
12
Balance Sheet
13
Statement of Cash Flows
14
Notes and Accounting Policies
15

St Cecilia's Abbey
Trustees, Report
The Trustees present their report along with the financial statements of the Charity for the year ended 31
December 2024.
OBJECTIVES AND ACTIVITIES
The principal object of the Charity is the advancement of the Catholic religion. The principal means of
advancing the Catholic religion is prayer, and the value and effects of this prayer can be measured only by
God. Nevertheless the Charity undertakes the following activities in support of this aim.
The Charity maintains St Cecilia's Abbey and the community of Benedictine nuns which inhabits it. The
chief work of the nuns is the celebration of the Divine Office, which is sung in Latin and in Gregorian Chant.
Among communities of nuns in the British Isles St Cecilia's is unique in using Latin Gregorian Chant
exclusively in its liturgy.
The nuns seek to earn their living by the production and sale of altar breads., they also undertake artistic
commissions and sell religious books, recordings of their Gregorian Chant, rosaries and other pious articles,
some of which are made by the nuns themselves.
The community share their contemplative life by welcoming visitors to their church and retreatants to the
Garth, the Lower and Upper Lodges and the Hermitage. and through newsletters and the Internet. No
charges are made for these services. and anyone is welcome to participate. The section below entitled
'Ministry to Visitors and Retreatants, explains these activities in more detail.
When possible. the Abbey takes the opportunity to assist other religious communities, either by financial
help or by providing hospitality to other contemplative nuns for long or short visits, for studies and training in
crafts which can contribute to the development of their own communities, or for a time of rest.
The Charity makes a number of grants. at the discretion of the Abbess. to both institutions and individuals.
Further details are contained in note 5.
The Trustees have considered the Charity Commission's general guidance on public benefit.
ACHIEVEMENTS AND PERFORMANCE
The Abbe
and the Communit
On 31 December 2024 there were 25 solemnly or perpetually professed nuns in the community, five
temporarily professed, three novices and two postulants.
A number of young women visited the Abbey during the year to dIs￿rn their vocation.
Two young women entered the monastery as postulants.
Two postulants received the habit and began their novitiate.
One novi￿ made her First Profession.
One junior completed her three years of temporary profession and renewed her vows for one year, according
to the new formation requirements of the document Cor Orans.
With the necessary permissions from the Abbot President of the Solesmes Congregation, in August the nuns
created a 'Juniorate' for the formation of the Sisters in temporary vows who have already spent some years
in the novitiate. ahead of full integration into the community- The Juniorate has its own area in the house,
separate lessons and recreations, with a Junior Mistress appointed to the care and development of its
members.
The Bishop of Portsmouth paid a visit to the community on the feast of Pentecost.
The Abbot-Primate of the Benedictine Confederation visited the community in July.

St Cecilia's Abbey
Trustees, Report
The Apostolic Eparch for Syro-malabar Catholics in Great Britain visited the community in October.
At the request of a member of the Bishops, Conference, the Sisters undertook the final proof-reading of the
new English translation of the Mass Lectionary for use in England, Wales and Scotland. They undertook
this major project without any recompense. as a labour for the good of the Church. The work was completed
in Lent, in time for the new Lectionary, in four volumes totalling over 3,600 pages, to come into public use in
Advent 2024.
The tenant who has occupied the Upper Lodge for many years moved elsewhere in April 2023. The Charity
decided to renovate the flat., this work was completed by August 2024 and the Upper Lodge is now available
for guests and retreatants.
The tenants of the propety on the mainland found another home during 2024. The Charity therefore via its
professional advisers put the property up for sale, and in due course sold it to another Catholic charity for
£1,030,000.
Maintenance of the Abbe
Buildin
s and Estate
In addition to the continuing programme of maintenance of the Abbey's extensive buildings, the following
major works were undertaken..
Re-roofing the Hermitage.
Replacing three boilers for the church-
Redecoration of cloister and St Scholastica's-
Repair of plumbing and upgrade of safetylhygiene frttings in the infirmary bathroom;
Installing driveway and entrance lights-
Replacing old strip lights with LEDS.
Replacing an industrial-size washing machine-
Purchasing new equipment to complete installation of a new telephone system.
Promotion of Gre
orian Chant
The nuns continued work on the production of interlinear LatinlEnglish booklets for the Divine Office for the
use of visitors and postulants. These works require much time on the part of the nuns and also expenditure
on paper and ink to make booklets of durable quality and suitable for their sacred function, but the nuns
consider this work an important part of their apostolate.
The nuns received sessions of specialist choral direction in March and November. in order to maintain and
improve their singing.
Some CDS of the nuns singing Gregorian Chant recorded many years ago have been made available on
Spotify by the record company. The related "channel" has neady five Ihousand monthly listeners.
Minist to Visitors and Retreatants
The Abbey Church was available all day throughout the year for those who wished to attend the daily Mass
and eight services of the Divine Offi￿, or for private prayer.
The Abbey Chronicle, produced twice in the year, was sent to approximately 750 addresses free of charge.
The Abbey also maintained a website on the life and work of the community, ww.stceciliasabbey.org.uk ,
where the chronicle is also available to download.
There is always a Sister available to welcome visitors or give counsel to anyone in need.
The Abbey's retreat accommodation welcomed 158 persons for retreats. Though most retreatants make
donations for their stay, no charge is levied. This year offerings were not made for only 5 nights. The

St Cecilia's Abbey
Trustees, Report
retreatants were able to participate in the Divine offi￿ and to see the Guest Mistress or other nuns for
spiritual counsel if they wished.
The numbers of secular oblates remained steady at about 40. The oblates received their own letter of news
several times in the year and a Sister appointed to their spiritual care corresponds with them when this is
required. An oblate weekend was held in October, during which the oblates heard talks from Mother Abbess
and other Sisters,. they also met the Sisters in the padour and at the end renewed their oblation. A group of
local oblates meets regularly for fellowship and mutual support.
Assistance to and Collaboration with Other Reli
ious Communities
Barrington Cottage continues to be let to a consecrated hermit at a low rent.
The Abbey made donations totalling £65,000 in 2024 to Quarr Abbey, which belongs to the Solesmes
Congregation and whose monks serve St Cecilia's as chaplains. in order help with particular needs of their
community.
In the new year. Mother Abbess travelled to Shanti Nilayam Abbey in Bangalore. India in order to help
conduct their canonical visitation with a monk of St Pierre de Solesmes. She travelled in late July to Notre
Dame de Wisques in the north of France. also to help conduct their canonical visitalion, this time with the
Abbot-President of the Solesmes Congregation.
Mother Abbess continues her role as a member of the council for the Union of Monastic Superiors, which
consists of all the superiors of communities which follow the Rule of St Benedict in the UK and Ireland. In
November, she travelled to Ireland to attend the Abbatial Blessing of the new abbess of Kylemore.
The Abbey continues to host a member of another community of the Solesmes Congregation. Other guests
received within the enclosure were an abbess for a period of rest and another nun while she awaited a visa
application in another country.
Other Activities of the Communi
The Altar Bread Department continued to be the nuns. principal means of earning their living. Tumover
continues to increase, but rising costs mean that actual profit levels are low.
The Sisters continued the venture of selling home-made soap, which has proved very popular, especially
with the visitors to Quarr Abbey.
There were also modest sales of rosaries. candles. pyrography and knitted items made by the nuns, together
with other pious goods and religious books. There was only modest income from the art studio (calligraphy
and illumination) but the younger Sisters are being trained in these arts so that there is hope for fulure
development. The candle department provides candles forthe needs of St Cecilia's Abbey and Quarr Abbey.
as well as for sale in the Abbey shop. The wax for this work comes entirely from the Abbey's bees and from
old candle-ends and wax scrapings recycled.
The Abbey's bees continued to be valued chiefly for the pollination of the orchard and soft fruit.
The extensive vegetable garden continued to be maintained by the young nuns. This garden, the orchard
(apples, pears, plums, quince. walnuts. hazelnuts, cobnuts) and the soft fruit cages (blackberries,
boysenberries. loganberries, gooseberries) are an important source of food for the nuns.

St Cecilia's Abbey
Trustees, Report
CAPITAL COMMITMENTS
There were no capital commitments at 31 De￿mber 2024.
LEGACY
As noted in the accounts for 2021, the Charity has been infomied that it is the principal beneficiary under the
will of a friend ofthe Abbey who died in Scotland in early 2022. The legacy has been estimated at £840,000.
Confirmation of the estate was obtained from the Scottish Courts only in October 2023 and consequently it
was recognised in the 2023 accounts. The estate's portfolio of shares was transferred to the Abbey over the
course of April-may 2024. The remaining proceeds were received in March 2025.
SIGNIFICANT EVENTS AFTER THE YEAR END
For several years Barrington Cottage at the gates of the Abbey has been let to a Catholic hermit for a low
rent. In 2025 she decided to move elsewhere. The trustees decided to use the cottage for retreatants and
guests, pending possible renovations.
PLANS FOR FUTURE PERIODS
No significantchanges in the activities ofthe Charity are planned. The Charity intends to continue to maintain
the Community at St Cecilia's Abbey and the celebration of the Divine Office.
FINANCIAL REVIEW AND RESERVE POLICY
During the year, the Abbey re￿iVed income totalling £1,092,778 (2023.. £1,906,131). The on-going principal
sources of income were £764,959 (2023: £720,121) investment income, £111,349 (2023.. £101,707) from
the sale of Altar Breads and £140.817 (2023: £123,187) from the pensions and allowances re￿iVed for the
nuns. In addition to this, the Abbey benefitted from legacies and dowries of £14,376 {2023: £891,343). Gifts
from benefactors were £35,013 (2023: £49,382). Expenditure for the year amounted to £827,935 {2023:
£669,874)- Of this, £489,446 (2023: £455.211) related to the costs of maintaining the religious community,
£132,256 (2023: £59,150) to the grants and donations made, £66.585 (2023.. £59,692) to the costs
associated with the Altar Bread production and shop sales, £22.156 {2023= £9,628) to church expenses and
£6,505 {2023.' £5,128) to the costs of running the retreat house. £110.987 {2023= £81,065 was spent on
raising funds including investment managers, fees and rental property expenses.
After taking into account the net gain on the revaluation of investment assets of £376,985 (2023-. net gain of
£394,298), the charity had net income for the yearof £641,828 (2023.. nel income £1,630,555). The charity's
funds mainly comprise tangible fixed assets and an investment portfolio which at 31 December 2024 was
valued at £22,276,620 (2023: £21,183.902).
The Trustees have reviewed the reserves and income of the Charity against its immediate and foreseeable
needs and are satisfied that the reserves are not excessive and should be sufficient to meet their needs.
The Trustees consider that the long temi nature of the Trust's charitable objectives requires that it relain
some of its surplus income as reserves. These reserves are necessary in order to secure the future ability
of the Charity to support the religious community at St Cecilia's Abbey.
At 31 December 2024, the total reserves of the charity were £27.259,996 {2023: £26,618,168). Of this total,
£1,901.796 are restricted reserves that are not available for the general purposes of the charity. The
Trustees have designated funds totalling £11,373.582 including a fixed asset and PRI fund that represents
those funds 'tied up in fixed assets and programme related investments and a number of other reserves,

St Cecilia's Abbey
Trustees, Report
full details of which can be found in note 13. At 31 De￿mber 2024 general unrestricted funds stood at
£13.984,618 (2023: £13,235,523).
The Trustees consider that there are no material Un￿rtaIntieS about the charity's ability to continue as a
going concern.
Investment erformance
The investment policy of the Trustees is to maintain and enhance the real value of their assets over the long
temi by investment in a portfolio comprising equities, fixed income stocks and cash. The investment policy,
drawn up in consultation with Chades Stanley, aims to ensure a steady stream of dividend income while
taking capital gains when an attractive opportunity arises.
The main portfolio is split be￿een a capital account with a balanced objective and an income account with
an income objective. The investment managers do not work to a fixed benchmark but use market indices to
gauge the performance of the portfolios.
The Abbey's investment income for 2024 was £764.959 (2023: £720.121).
Risk management
The Sisters entrust themselves and their future to Divine Providence. Knowing. however, that part of the
proper exercise of this trust is the careful stewardship of the reSoUr￿S which Providence has granted. the
trustees have considered the risks faced by the charity.
The risk which requires most attention from the Trustees is the possibility of the decline of the community of
nuns at St Cecilia's Abbey. The object of the Charity could not be achieved without the presen￿ of a
monastic community. As recruitment and retention of new members. under the Holy Spirit. is largely
dependent on the fervour and integrity with which Ihe nuns follow their calling, the effective apostolale of the
Charity requires paradoxically constant vigilance to safeguard the Silen￿ and seclusion of the monastery.
The Trustees strive to mitigate the risk of such a decline by managing the assets of the Charity appropriately
and providing the resources necessary to support this effort. In particular, a continuous programme of
maintenance of the buildings and grounds ofthe Abbey obviates the risk of major works and all the disruption
they would entail. Investment in modem machinery reduces the need for seculars within the enclosure, while
provision of the modern means of communication reduces the need for exits by the nuns. While frugality
should characterize the lifestyle of the Sisters. the Trustees ensure that funds are available to maintain the
library and pay for outside speakers when appropriate. The sick and elderly of the community are seen as
a special treasure, and the trustees watch that sufficient resources are available to ensure their proper care.
The Charity's investment portfolio is a major support in providing funds for the Abbey's own needs and
charitable giving. The Trustees consider the variability of retums on the portfolio to be the Charity's major
financial risk. To reduce this risk they maintain a diversified portfolio and use the services of investment
advisors who are not only experts in the charity sector but who also know the Abbey well and understand its
ethos.
In this era of increasing govemment legislation and third-party litigation, the Trustees note also the risks
which these present to the Abbey. The Trustees seek to reduce these risks by using the ServI￿S of experts
in the relevant fields (for example, lawyers, financial advisers, insurance brokers) and also engage health
and safety and employment law services to provide the knowledge which the trustees may lack.

St Cecilia's Abbey
Trustees, Report
In making charitable donations the Abbey risks that these grants will be ineffective. The Trustees reduce
this risk by donating in the main to charities which are well known to them and whose accounts are available
for inspection. Where necessary they seek the advice of relevant professionals or other charities in the field.
STRUCTURE. GOVERNANCE AND MANAGEMENT
St Cecilia's Abbey is a charity established and govemed by a Trust Deed dated 1 November 2000.
The Abbey is governed by the Abbess. who is elected for life by the nuns. She is advised by her prioress
and by a council consisting of the prioress, a nun chosen by the Abbess and two nuns elected by the
community. The Abbess appoints a bursar who oversees the financial affairs of the charity.
Trustees are appointed bythe Abbess from members of the community and decisions are made on a majority
basis. The Trustees in office during the period and at the dale of this report are set out on page 6.
All of the Trustees are senior nuns of the community and, as such. have an in-depth knowledge of the charity.
The Trustees also seek guidance whenever necessary from professional firms (for example, accounianls,
solicitors, investment managers. Insuran￿ brokers) of suitable standing and with wide knowledge of the
religious charity sector.
St Cecilia's Abbey is a member of the Benedictine Congregation of Solesmes. a grouping of abbeys and
priories in several countries which have a common history and traditions. derived from the Abbey of S-Pierre
de Solesmes. Fran￿. The nuns at St Cecilia's follow the Rule of St Benedict as interpreted by the
Declarations of the Abbey of Ste-cécile de Solesmes. The chief financial consequence of the Rule and
Declarations is that any activities of the Abbey must not trespass on the strictly enclosed contemplative life
of the nuns, which finds its principal expression in the praise of God in the Divine Office. In accordance with
the aforesaid Rule and Declarations, the Abbey of St Cecilia is an independent religious community and its
financial affairs are in the hands of the nuns themselves.
REFERENCE AND ADMINISTRATIVE DETAILS
The name of the Charity..
St Cecilia's Abbey
Charity registration number=
1088086
Address:
St Cecilia's Abbey
Appley Rise
Ryde
Isle of Wight
P033 1 LH
Trustees..
ELee
A-M Fiévet
C Quayle
M Mccann
The custodian trustees at 31 December 2024 were as above.

St Cecilia's Abbey
Trustees, Report
Solicitors:
Tozers Solicitors
Southernhay West
Exeter
EX1 1UA
Auditors:
Francis Clark LLP
Chartered Accountants
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
Bankers:
HSBC
101 St James, Street
Newport
Isle of Wight
P030 1 HX
Investment Managers:
Chades Stanley Limited
Ropemaker Place
25 Ropemaker Street
London
EC2Y 9LY

St Cecilia's Abbey
Trustees, Report
Statement of Trustees, Responsibilities
The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance
with applicable law and Uni(ed Kingdom Accounling 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 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 charity for that period. In preparing these financial statements,
the trustees are required to..
select suitable accounting policies and then appty them consistently",
observe the methods and principles in the Charities SORP"
make judgments and estimates that are reasonable and prudent"
state whether applicable accounting standards hwrfe been follow&J, subject to any material departures
disclosed and explained in the financial statements. and
prepare the financial ststements on the going concem basis unless tt is inappropriate to presume that
the Charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy
at any time the financial posttion of the charity and enable them to ensure that the financial statements
comply with the Chartties Act 2011. the Charities (Accounts and Reports) Regulations 2008 and the
provisions of the trust deed. They are also responsible for safeguarding the assets of the charty and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees
Trustee

St Cecilia's Abbey
Independent Auditor's Report to the Trustees of St. Cecilia's Abbey
Opinion
We have audited the financial statements of St. Cecilia's Abbey (the °Charity") for the year ended 31
December 2024 which comprise the Statement of Financial Aclivities, the Balance Sheet, the Statemenl of
Cash Flows and the related notes. 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 in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its
incoming resour￿$ and application of resources, for the year then ended"
have been propedy prepared in accordan￿ with United Kingdom Generally Accepted
Accounting Practice"
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational 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
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 trustees 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 charity's ability to continue as
a going concern for a period of at least twelve months from when the original financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Irustees with respect to going concem are described in
the relevant sections of this report.
Other information
The other information comprises the infomiation included in the annual report. other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the financial statements. 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 audit or otherwise appears to be materially misstated. If we
identify such material inconsistencies or apparent material misstatements, we are required to determine
whether there is a material misstatement in the financial statements or a material misstatement of the other
information. If, based on the work we have perfomied, we conclude that there is a malerial misstatement of
this other information, we are required to report that fact.
We have nothing to report in this regard.

St Cecilia's Abbey
Independent Auditor's Report to the Trustees of St. Cecilia's Abbey
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion=
the infonnation given in the financial statements is inconsistent in any material respect with
the trustees, report:
sufficient 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 trustees, responsibilities statement set out on page 8 the trustees are
responsible for the preparation of financial statements which 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 financial statements. 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 liquidate the Charity or to cease operations.
or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under the Charities Act 2011. s144 and report in accordan￿ with
regulations made under 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 Influen￿ 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 extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below.
As part of our audit planning we obtained an understanding of the legal and regulatory framework that is
applicable to the Charity and the sector in which it operates to identify the key laws and regulations affecting
the Charity. The key regulations we identified were Charity legislation and Charity Commission requiremenls.
We also considered those laws and regulations that have a direct impact on the preparation of the financial
statements. primarily the Charities Act and the Charities SORP.
We discussed with management how the compliance with these laws and regulations is monitored and
discussed policies and procedures in place. We also identified the individuals who have responsibility for
ensuring that the Charity complies with laws and regulations and deals with reporting any issues if they arise.
As part of our planning procedures. we assessed the risk of any non-compliance with laws and regulations
on the Charity's ability to continue its activities and the risk of material misstatement to the accounts.
10

St Cecilia's Abbey
Independent Auditor's Report to the Trustees of St. Cecilia's Abbey
Based on this understanding we designed our audit prO￿dureS to identify non-compliance with such laws
and regulations. Our procedures involved the following:
Enquiries of management and those charged with governan￿ regarding their knowledge of any
non-compliance with laws and regulations by the charity that could affect the financial statements.
As part of these enquiries we also discussed with management whether there have been any known
instances, allegations or suspicions of fraud. of which there were none.
Reviewed filings with the Charity Commission and enquired with management whether there were
any Serious Incident Reports made during the year of which there were none.
Reviewed legal and professional costs to identify any possible non compliance or legal costs in
respect of non compliance.,
Reviewed Board minutes.
Audited the risk of management override of controls, including through testing journal enlries and
other adjustments for appropriateness, and evaluating the business rationale of significant
transactions outside the normal course of business of which there were none.
Reviewed estimates and judgements made in the accounts for any indication of bias and challenged
assumptions used by management in making the estimates.
Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements. This 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 omissions, collusion. forgery. misrepresentations, or the override of internal controls. We
are also less likely to become aware of inslances of non-compliance wilh laws and regulations that are not
closely related to events and transactions reflected in the financial siatements.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the Charity trustees. 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 trustees those matters we are required to state to trustees in an auditors, report and for no other purpose.
To the fullest extent permilted by law, we do not accept or assume responsibility to anyone other than the
Charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Cla LLP.
(Senior Statutory Auditor)
Francis Clark LLP, Statutory Auditor
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
Date
30 October 2025
Francis Clark LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment
as auditor of a company under section 1212 of the Companies Act 2006.

St Cecilia's Abbey
Statement of Financial Activities
Year Ended 31 December 2024
2024
Total
Funds
2023
Total
Funds
Restricted Unrestricted
Fund
Funds
Notes
Income from:
Donations and legacies
Retreat income
Nuns. pensions and allowances
Charitable activities:
Sale of Altar Breads
Other Shop Sales
Investment income
Other
49,389
15,893
140,817
49,389
15,893
140,817
940.725
10,741
123,187
111,349
8,357
764,959
2.014
111,349
8,357
764,959
2,014
101.707
8,752
720,121
898
Total
1,092,778 1,092,778 1,906,131
Expenditure on:
Raising funds..
Investment managers, fees
Rental property expenses
Charitable activities=
Altar breads and shop expenses
Retreat expenses
Church expenses
Costs of maintaining the community
Grants and donations
70,092
40,895
70,092
40,895
64,007
17,058
66.585
6,505
22.156
489,446
132,256
66,585
6,505
22,156
489,446
132,256
59.692
5,128
9.628
455.211
59,150
Total
827,935
827,935
669,874
Net gains on investments
376,985
376,985
394,298
Net income
641.828
641,828 1,630.555
Transfers between funds
12
88,400
(88,400)
Net movement in funds
88,400
553.428
641,828 1,630.555
Reconciliation of funds:
Total Funds brought forward
1.813,396
24,804.772 26,618,168 24,987.613
Total funds carried forward
1.901,796
25,358,200 27,259,996 26,618,168
The notes on page 15 to 25 form part of these accounts.
12

St Cecilia's Abbey.
Balan￿ Sheet
31 December 2024
Notes
2024
2023
Fixed assets
Tangible assets
Investrnents
5,715.982
22,276,620
5,745,909
21,183,902
27,992,602
26,929,811
Current assets
Stock
Debtors
Cash at bank and in hand
4,700
576,774
93,333
4,700
951,116
137,557
10
674,807
1,093,373
Liabillties
Credttors: Amounts falling due within one year
11
(1,407,413> (1,405,016)
Net current liabilttles
{732,606)
(311,643)
Total Net assets
27,259,996
26,618,168
The funds of the charlty:_
Restricted funds
Unrestricted funds..
Designated funds
General funds
12
13
1.901,796
1,813,396
11,373,582
13,984,618
11,569,249
13,235,523
Total charity funds
27,259,996
26,618,168
Approved by the Trustees on .
so- Octs6ts"2025
. and signed on their behalf by:
Trust88
The notes on page 15 to 25 form part of these accounts.
13

St Cecilia's Abbey
Statement of Cash Flows
Year Ended 31 December 2024
Notes
2024
2023
Cash flows from operating activities:
Net Cash (used in) operating activities
17
(93.450)
(363,103)
Cash flows from investing activities:
Dividends, interest and rents from investments
Net investments in investment portfolio
Cash withdrawn from investment portfolio
Proceeds from sale of programme related investment propety 9
764,959
(2,012,156)
300,000
996,423
720,121
{604,049)
300.025
Net cash provided by investing activities
49,226
416.097
Change in cash and cash equivalents in the reporting
period
(44,224)
52.994
Cash and cash equivalents at the beginning of the
reporting period
137,557
84,563
Cash and cash equivalents at the end of the reporting
period
93,333
137,557
The notes on page 15 to 25 fomi part of these accounts.
14

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Accounting Policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the
preparation of the financial statements are as follows=
(a) Basis of preparation and assessment of going concern
The accounts (financial statements) have been prepared on an accruals basis underthe historical
cost convention, except forthe valuation of investments at market value. The financial statements
have been prepared in accordance with the Charities SORP {FRS 102) 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), the Financial Reporling Standard
applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Trust's ability to continue
as a going concem.
(b) Fund accounting
The Charity's unrestricted general fund consists of funds which the Charity may use for
its charitable purposes at its discretion.
The Charity has designated certain funds. Further details are contained in note 13.
There is no legal for￿ for the designations.
The Charity has one restricted fund. Further details of this fund can be found in note 12.
(c)
Income recognition
All income is recognised On￿ the charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Donations and legacies
Donations are recognised when the Trust has been notified in writing of both the amount and
settlement date.
Where the charity does not have discretion in the collection and distribution of donations and has
no entitlement to the donations. then these amounts are conduit funding. Amounts relating to
conduit funding are not included in the Statement of Financial Activities of the Charity-
Legacy gifts are recognised on a case by case basis following the granting of probate when the
administratorlexecutor for the estate has communicated in writing both the amount and
settlement date.
Retreat income
This relates to the donations received from retreatants and is recognised on a receivable basis.
Nuns, pensions and allowances
Pensions and allowances are recognised on a receivable basis.
Attar bread and shop income
Income from the sale of altar breads and shop sales is recognised when the goods are
despatched.
Investment income
Investment income is recognised on a receivable basis. Where income is receivable net of basic
rate tax. the gross amount of income is included in the Statement of Financial Activities (SOFA)
as investment income. No adjustment is made for accrued income included in the price of
securities that were acquired or disposed of during the year.
15

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Accounting Policies (continued)
(d) Expenditure recognition
Liabilities are recognised as expendrture as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that settlement will be required and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis and includes irrecoverable VAT. All costs
have been directly attributed to one of the categories of resources expended in the SOFA.
Costs of raising funds consist of investment managers, fees and the costs associated with
rental properties.
Costs of charitable activities include the costs of maintaining the community, grants and
donations made, the costs associated with the production of altar breads and the sale of
religious items as well as church. retreat house, and programme related property expenses.
(e) Tangible fixed assets and depreciation
Tangible assets donated on the creation of the Trusl have been valued in accordance with their
insurance values at that time. Subsequent additions are included at cost or, in the case of
property transferred from investments. at its insurance value. Replacement fixtures, furniture
and equipment are charged to the SOFA in the year in which the expense is incurred.
Tangible assets olher than freehold land are depreciated over their estimated useful lives, at the
following rates'.-
Abbey buildings
Other leasehold buildings
Fixtures, fittings and equipment
straight line
straight line
5_100/o Straight line
No depreciation is provided on the Abbey buildings. It is the Charity's policy to maintain the
Abbey in such a condition that the value is not impaired by the passage oftime. Such expenditure
is charged in the year it is committed. The nature of the Abbey owned by the Charity is such that
it is unlikely to suffer from economic changes or technical advances. As a consequence any
element of depreciation would, in the opinion of the Trustees, be immaterial and therefore no
provision has been made.
The valuation of the Abbey buildings is reviewed for impairment whenever events or changes in
circumstances suggest that the carying value may be in excess of its recoverable amount.
Recoverable amount is the higher of net realisable value and value in use (which is measured
on the basis ofthe worth ofthe service delivery of the asset). Where an impairment has occurred,
the carrying value of the asset is written down to its recoverable amount, and the revised value
of the asset is depreciated over its remaining useful lrfe. The impaimient loss is charged to the
Statement of Financial Activities ("SOFA").
(f)
Financial instruments
The Abbey only has financial assets and other financial liabilities of a kind that qualify as basic
financial instruments. These comprise cash and bank balances, short term trade and other
debtors and creditors and listed investments.
Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value. They are derecognised when Ihe contractual rights to cash
flows from the assets expire orsubstantially all the risks and rewards of ownership are transferred
to another party or in the case of liabilities when obligations are discharged.
16

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Accounting Policies (continued)
(g)
Investments
(i) Quoted investments are originally recorded at their transaction value and subsequently
measured at their fair value at the balance sheet date using the quoted market price.
(li) Investment properties have been valued at fair value as follows. Investment properties
donated on the creation of the Trust have been valued in accordance with their current
insurance values. Investment properties subsequently acquired are initially valued at cost
and thereafter revalued in line with the movement in the house price index.
(iii) Programme related investments are included in the balance sheet at cost less any
impaimients.
(iv) Realised and unrealised gains and losses on the investments are creditedlcharged directly
to the Statement of Financial Activities.
(v) All investments, including bank balances held as part of the investment portfolio, are
included as fixed assets.
(h)
Dowries
Dowries represent monies introduced by the nunswhen Ihey take their solemn or perpetual vows,
or legacies which they subsequently re￿1Ve. Although not legally repayable. the Trustees
consider that they have a compelling moral obligation to repay these sums in the event that a
nun leaves the Abbey and they are therefore shown as creditors. On the death of the nun they
are released to the Statement of Financial Activities.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange
ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at
the rate of exchange ruling at the date of the transaction. Exchange differences are taken into
account in arriving at the net gains arising on the revaluation and disposal of investment assets.
Related party transactions and trustees. expenses and remuneration
All trustees are nuns of St Cecilia's Abbey and do not re￿1ve any remuneration by virtue of their position
as trustees.
The charity maintains and supports the trustees in the same way as nuns who are not trustees. As this
is part of the charitable objects of the charity it is not seen to be remuneration for their services as
trustees.
No expenses have been paid or reimbursed to the trustees by virtue of their position as trustees.
During the year trustees donated their pensions and alloWan￿S totalling £6,079 to the charity {2023=
£10,818), as well as dowries of £nil (2023: £5,000).
Income
2024
2023
Donations and legacies:
Legacies and dowries
Other gifts and donations
14,376
35,013
891,343
49,382
49,389
940,725
other gifts and donations
Includes £nil {2023= £nil) restricted income.
17

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Investment Income (unrestricted)
2024
2023
Income received from..
Properties
Listed investments
Cash held as part of an investment portfolio and at bank
43,247
690,367
31,345
41,183
644,565
34,373
764,959
720,121
Grants Payable
During the year the following grants and donations were made=
2024
Number
2023
Number
Individuals-
Grants to people in financial need
355
4,008
21
Institutions involved in:
Religious Welfare
Overseas Aid
Children
Medical
Poor
Other
109,421
12,000
450
3,780
4,600
1,650
32
29,812
14,500
600
2,670
4,600
2,960
16
131,901
53
55,142
39
Total
132,256
56
59,150
60
Included in the grants above is £nil (2023- £nil) relating to restricted funds.
Included in the above institutional grants are the following amounts greater than £1,000:
Quarr Abbey
ACN
Grief to Grace
Mary's Meals
Earl Mountbatten Hospi
Portsmouth Diocese
Mercy Ships
Stanbrook Abbey
Holy See
Association Latin Liturgy
65,000
20,000
4,000
6,000
3.000
3.000
2,000
5,000
3,250
1,015
18

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Costs of Maintaining the Community
Designated Unrestricted
2024
2023
Wages Costs
Nuns. NIC
Repairs, renewals and maintenan
Heat and light
Postage, phone and stationery
Water rates and council tax
Household provisions
Insurance
Clothing
Gardening expenses
Monastic hospitslity
Medical costs
Library Costs
Motor and travel expenses
Advertising
Sundries
Depreciation
Legal and Professional
Govemance
Auditors. remuneration
123,660
4,147
107,706
39,321
17,558
9,927
33,936
15,944
1,060
31,896
152
32,624
1,493
3,794
120
10,767
123,660
4,147
107,706
39,321
17,558
9,927
33,936
15,944
1,060
31,896
152
32,624
1,493
3,794
120
10,767
29,927
8,025
107,326
4,915
96,089
34,522
16,936
8,902
30,459
17,819
534
31,542
1,715
25,305
1,764
9,783
816
8,938
35,230
8,096
29.927
8,025
statutory audit
other
16,200
1,189
16,200
1,189
11,100
3,420
29.927
459,519
489,446
455,211
Included in the costs above is £nil (2023- £nil) relating to restricted funds.
Staff costs
2024
2023
Gross wages and salaries
Employer's national insurance
Employer's pension contributions
115,829 102,040
6,107
3,731
1,724
1,555
123,660
107,326
Average number of staff
The charity considers its key management personnel comprise the Trustees only to whom no
employment benefits were paid.
No employees received any employee benefits in eX￿sS of £60,000 (2023: none).
During the year a termination payment of £Nil (2023= £1,145) was made.
19

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Tangible Fixed Assets
Fixtures
Fittings &
Equipment
Freehold
Property
Leasehold
Property
Total
Cost
At 1 January 2024
Additions
Disposals
5,538,694
200.655
1.191,098
6,930,447
At 31 December 2024
5.538,694
200,655
1,191,098
6,930,447
Accumulated Depreciation
At 1 January 2024
Charge for the year
Disposals
92,299
4,013
1,092,239
25,914
1,184,538
29.927
At 31 December 2024
96,312
1,118.153
1,214,465
Net Book Value
At 31 December 2024
5.538,694
104,343
72,945
5,715,982
At 31 December 2023
5.538.694
108.356
98,859
5,745,909
Tangible assets donated on creation of the Trust have been valued in accordan￿ with their insurance
values at the time.
All tangible fixed assets are used in direct furtheran￿ of the charity's objectives.
The leasehold property is held on a 1.000 year lease that expires in 2841.
20

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
Investments
2024
2023
Listed on a recognised stock exchange:
Market value of Portfolio at 1 January 2024
Transfers froml(to) cash
Net investment additionsl{disposals) made in the year
Realised and unrealised gainsl(losses) on investments
17,251,622
23,351
2,012,156
126,853
15,791,723
439,238
604,049
416,612
Market value at 31 December 2024
19,413,982
17.251,622
Cash held as part of the investment portfolio:
Balance at 1 January 2024
Transfers {to)Ifrom listed investments
Withdrawn from investment
1,191,984
(23,351)
(300,000)
1,931,247
(439,238)
(300,025}
Balance at 31 December 2024
868.633
1,191,984
UK Investment properties:
Balance at 1 January 2024
Revaluation during year
1,987,804
6,201
2.010,119
{22,315)
Market value of investment property at 31 December 2024
1,994,005
1.987,804
Programme related property investments:
Cost at l January 2024
Realised gain on disposal
Disposal proceeds
752,492
243,931
(996,423)
752,492
Cost at 31 December 2024
752,492
Total
22,276,620
21,183,902
The investment property donated on creation of the Trust has been valued by the Trustees on the basis
of its building insurance value. The investment property purchased in 2015 has been included at
indexed cost. These are considered to be fair values.
The programme related property investment has been made to support another religious order and is
valued at cost.
The market value of the listed investments held at 31 December 2024 was £19,413,982 {2023:
£17.251,622)' of this value £6.398,781 (2023: £2.553.599) relates to non-UK investments.
The cost of listed investments at 31 December 2024 was £17,948,262 {2023: £15,968,293}.
The trustees consider that there were no material individual investment holdings in the year that require
disclosure.
All quoted investments are carried at their fair value. Investments in equities and fixed interest securities
are all traded in quoted public markets. Holdings in common investmentfunds and unit trusts are valued
at bid price. The basis of fair value for quoted investments is equivalent to the market value. Asset
sales and purchases are recognised at the date of trade at cost (that is their transaction value).
21

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
10 Debtors
2024
2023
Trade Debtors
Prepayments and accrued income
3.641
573,133
7,483
943,633
576,774
951,116
11 Creditors
2024
2023
Other Creditors
Repayable Dowries
51,754
1,355,659
50,057
1.354,959
1,407.413
1.405,016
12 Restricted Funds
The Congregation of Solesmes restricted fund represents an amount prescribed by the Congregation.
It may not be expended without the Congregation's permission. The fund is held in the fomi of traded
investments which enable it to be accessed rf required. A transfer is made to or from the fund to ensure
it continues to match the Congregation's requirements.
The movement on the restricted fund is shown below.
Balance at
1 Jan 2024
Incoming
Gifts
Balance at
31 Dec 2024
Transfers Expenditure
Current year:
congregati￿ of Solesmes 1.813,
1,￿)1.7
Previous year:
Congregation of Solesmes 1,946,861
(133,465)
1,813,3
22

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
13 Unrestricted Funds
The movements on the designated and unrestricted funds are shown below.
Depreciationl
Gainsl
Balance at
(Losses) 31 Dec 2024
Balance at Income Expenditurel
1 Jan 2024
Transfers
Current year:
Designated Funds
Repairs
Nursing Fees
Library and liturgical Books
Contingency Reserve
Fixed Assets/PRI
New Car
India
Visiting Nuns Fund
446.201
2.496,000
22,243
2.088,964
6.498,401
12,000
440
5.000
{41,967)
648,960
404,234
3,144,960
22,243
2,068,723
5,715,982
12,000
440
5,000
{20,241)
(752,492)
(29.927)
Total Designated Funds
11,569.249
(165,740)
(29.927)
11,373,582
Unrestricted General Fund
13,235.523 1.092,778
(720.668)
376,985
13,984,618
Total Unrestricted Funds
24,804,772 1,092.778
(886,408)
347,058
25,358,200
Depreciationl
Gainsl
Balance at
(Losses) 31 Dec 2023
Balance at Income Expenditurel
1 Jan 2023
Transfers
Previous year:
Designated Funds
Repairs
Nursing Fees
Library and liturgical Books
Contingency Reserve
Fixed AssetslPRI
New Car
India
Visiting Nuns Fund
445.201
1.996,800
22,243
2,069,962
6,533,631
12.000
440
5,000
1,000
499.200
446,201
2,496,000
22,243
2,088,964
6,498,401
12,000
440
5,000
19.002
(35,230)
Total Designated Funds
11,085,277
519,202
{35,230)
11,569,249
Unrestricted General Fund
11.955.475 1.906,131
(1,020,381)
394,298
13,235,523
Total Unrestricted Funds
23,040,752 1.906.131
(501,179)
359,068
24,804,772
23

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
13 Unrestricted Funds (continued)
Repairs fund
This represents a reserve designated for building maintenance. A transfer from this fund has been
made during the year so that the fund amounts to five years repair costs.
Nursing fees
This is a fund designated to meet the cost of nursing fees likely to be required rf a Sister is in need of
specialist care.
Library books
The Abbey has to meet the costs of providing new books forthe library and choir. This fund is to ensure
that these costs can be met as and when required.
Contingency reserve
This designation is to be used for emergency purposes and is based on the cost of maintaining the
Community over the last five years. A transfer to the fund has been made during the year to reflect this.
Fixed asset and PRI reserve
This fund represents the net book value of the Charity's tangible fixed assets and programme related
investments (PRI). A transfer is made to or from unrestricted reserves each year to ensure that the
fund continues to reflect the net book value of these assets.
New car
This fund is for the purchase of a new car.
India fund
This is a fund used to account for gifts and donations from the monastery and from friends so that the
Charity is able to assist in an emergency and pay for machinery for altar breads from other European
countries.
Visiting nuns reserve
This designation is for anticipated long temi costs that will arise in connection with Sisters staying at
the Abbey.
14 Commitments
The charity had promised to allow a religious community to live in one of its properties for as long as
the community needed it. The community left the propety during 2024.
At 31 December 2024 and 31 De￿rnber 2023 the Abbey had no capital commitments.
24

St Cecilia's Abbey
Notes and Accounting Policies
Year Ended 31 December 2024
15 Obligations under operating leases
Lessor
The total of future minimum lease payments receivable is as follows:
2024
2023
Not later than one year
4,091
4,031
4,091
4,031
16 Split of Assets Between Funds
2024
Total
Funds
2023
Total
Funds
Restricted Unrestricted
Fund
Funds
Represented by:
Tangible fixed assets
Investments
Current assets
Current liabilities
5,715,982
5,715,982
5.745,909
20.374,824
22,276,620
21.183,902
674,807
674,807
1.093,373
(1.407,413) (1,407,413) {1,405,016)
1.901.796
1.901,796
25.358,200
27,259,996
26,618,168
17 Reconciliation of net income to net cash flow from operating activities
2024
2023
Net income for the reporting period (as per the
statement of financial activities)
641,828
1.630,555
Adjustments for:
Depreciation charges
(Gains)Ilosses on investments
Loss on fixed assets
Dividends, interest and rents from investments
(Increase) Idecrease in debtors
Increase l (decrease) in creditors
29,927
(376,985)
35,230
(394,298)
(764,959)
374,342
2,397
(720,121)
(875,534)
{38,935)
Net cash (used in) operating activities
(93,450)
(363,103)
25