Company registration number: 4428897 Charity registration number: 1094097
## Lee Abbey Fellowship
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 April 2024
VLA WESTCOTTS CHARTERED ACCOUNTANTS & BUSINESS ADVISERS
## Lee Abbey Fellowship
## Contents
|Trustees' Report|1106|
|---|---|
|Independent Auditors' Report|7 to 10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Statement ofCash Flows|13|
|NotestotheFinancialStatements|14to27|
## Lee Abbey Fellowship
## Trustees’ Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors’ report of the charitable company for the year ended 30 April 2024.
## Objectives and activities
## Charitable Objects
The charity's objects are the advancement of the Christian faith worldwide through the ministry of communities of Christians whose shared lives in the fellowship of the Holy Spirit communicate the love of God revealed in Jesus Christ.
These objects are fulfilled through promoting the renewal and growth of the Church through mission, evangelism, teaching and training by means of a Christian Community. Lee Abbey Fellowship is concerned to serve the Church in many varied ways, including the running of conferences, retreats, holidays (which include the opportunity to receive teaching and ministry) and youth camps, and the training of people to go back into churches with a fresh vision of all that life in Christ can mean. Community members occasionally go out to lead Church services or other events. We also seek to reach children and young people, both churched and un-churched, through the operation of The Beacon Youth and Outdoor Activity Centre and the summer Camps.
Throughout the year the way in which the objects of the charity are being fulfilled is monitored by the Warden and the senior management team overseen by the Trustees to whom they regularly report. The participation and prayer support of the Lee Abbey Friends continues to be a powerful tool for meeting these objectives.
## Achievements and performance
The year 2023-24 has been a fruitful year in which we have been able to carry out our core charitable objects of conferences, retreats, courses and Christian holidays, in the main House, Beacon, self-catering units and at the Camp.
We have continued to nurture the Christian discipleship of community members through spiritual formation groups, mentoring, training, and an annual retreat. We encourage community members to gain a sense of vocation and live out the Lee Abbey Rule of Life as they return home - whether in the UK or overseas. Scheduled Development Weeks have given opportunity to engage in extra training, review our practices and systems and clarify our values.
On the 280-acre Estate we care for the sheep, cattle and pigs, managing the gardens, grounds and woodland overseen by our farm manager. Our solid financial position has enabled us to continue to tackle a number of projects notably the start of a programme of window replacement on the historic main house, and beginning to explore options for improving community accommodation. Following an energy review that was carried out by one of our suitably qualified trustees, we have employed an extra maintenance worker to implement some of the report’s recommendations. This review is a valuable guide to future improvements, including a project to grow some solar energy capacity when funds and planning permissions allow.
The year has been a time of encouraging activity, welcoming guests, new and old, of all ages, recruiting new community members, assembling a new leadership team and developing our volunteer program. It’s been a time of rebuilding the ministry and the Fellowship’s finances.
Page 1
## Lee Abbey Fellowship Trustees’ Report
## Going Concern
The Trustees continue to keep a close eye on trends in bookings, costs, policies and recruitment to ensure the safety of its communities and to mitigate the effects of inflation, and visa changes on the charity's activities. The very nature of our model means that the task of recruiting a sufficient number of suitable community members and volunteers and attracting a steady stream of guest throughout the year, is always going to be an ongoing challenge. However, they determined that when the accounts were prepared there was not a material uncertainty that casts significant doubt on the charity's ability to continue as a going concern for the foreseeable future.
Although, the hospitality industry is by it’s very nature influenced by many exterior factors and uncertainties this year has matched the Trustees’ expectations, hopes and prayers, and they remain optimistic about the future.
## Public Benefit
The Trustees consider that the ministry of the Fellowship to the guests of all ages provides clear and significant public benefit. The responses of guests (including our regular guest questionnaires) continue to testify to the spiritual benefit they have received in developing or discovering faith in Christ, in their spiritual growth, in being equipped to go back to communicate the love of God in Christ in their local communities and in receiving healing and pastoral care. In setting our policies on fees for guests we seek to ensure that, so far as possible, all those who desire to benefit from our mission who would otherwise not be able to afford the fees are able to come to Lee Abbey to meet with God. Because it is possible to come to Lee Abbey for short stays (e.g. a weekend or even 24 hours) and we offer conferences and retreats of different lengths, we believe that the fees are affordable by the great majority of people. But to cater for those who may not be able to afford the standard fees, we operate a bursary scheme and offer different types of accommodation including self-catering units at lower prices. We also provide without any charge special events for local churches at Lee Abbey, which enable people from the surrounding areas to come and benefit from the Christian ministry of the Fellowship through teaching worship and prayer without any payment.
The beneficiaries of our charity include members of the residential international Community as well as the guests. At the heart of the ministry of the Fellowship to the resident Community is an encouragement and equipping to grow in their Christian faith and to develop positive values, attitudes and skills, and a lifelong commitment to show the love of God in Christ by serving other people from any background or culture. This international element provides important opportunities for intellectual enrichment and deeper international understanding for Community members and guests alike. We also seek to equip our resident Community with skills that they are able to take back to benefit their home churches when they leave the Community. No fees are charged to members of our residential Community. The opportunity to benefit from time on Community is not subject to any financial restriction. This is particularly important to younger members of Community e.g. those on gap years before going to College, since (unlike many organisations) the Fellowship does not impose any requirement for them to raise any sponsorship to finance their time at Lee Abbey.
## Financial review
Due to the hard work of the community, generosity of supporters and careful management of our finances we have been able to increase cash reserves that give us short and medium term security, and confidence to undertake investment in further mission, as well as maintenance and improvement of our buildings.
There was a net inflow of unrestricted funds of £469,768 (2023 - £415,881) and a net inflow of restricted funds of £14,146 (2023: £15,308).
Page 2
## Lee Abbey Fellowship
## Trustees’ Report
The Trustees, recognising that the value of the land and buildings occupied by the charity at Lee Abbey, Lynton (via the House, the 280 acre estate and the other buildings including Community houses and other accommodation, farm buildings and the Beacon centre) represent a substantial proportion of the value of the assets of the charity have considered whether in all the circumstances this is the best use of the value represented by that land and buildings. The Trustees have unhesitatingly concluded that it would not be right to sell the land and buildings to realise that value. In reaching this conclusion they have had regard to the nature of the objects of the charity (which expressly refer to the advancement of the Christian faith through the ministry of communities), the establishment and development of a significant community on the present site over the last 75 years, the nature and reputation of the charity's retreat and conference ministry (carried out through the community in furtherance of the charitable objects), the very high value placed on the location, beauty and tranquillity of the estate by our guests and their attachment to this particular location, the serious risk to the business and ministry which would be occasioned by a move, and the great difficulty of finding appropriate alternatives.
## Funding Sources
Our principal funding source continues to be our fee income. The House fees were £1,554,133 representing 62% of our total incoming resources (2023 - £1,450,267 — 61%). The Beacon fees were £145,298, 5.8% of our total incoming resources (2023 - £122,152 - 5.1%).
Our total income from donations were £464,047 (2023 £527,662). We regard legacies as an important source of income but these can fluctuate significantly. Legacies totalled £158,107 representing 6.3% of our total incoming resources (2023 - £125,676, 5.3%). We are always very grateful to our supporters (including those who are Lee Abbey Friends) for donations received.
We continue to benefit from the support of the Trustees of the ‘Woodland House of Prayer’ (also now known as Hopeswood) who offer some modest grants for extra bursaries and capital projects, especially any that support energy efficiency and future sustainability to the Lee Abbey Fellowship.
The trustees also consider that value of its property continues to be the right use of its resources.
## Reserves
Lee Abbey Fellowship seeks to maintain liquid unrestricted funds at the level of at least three months planned expenditure, which provides sufficient funds to cover unexpected costs and other expenditure, which arise from time to time. At the year-end there was 12.02 months of expenditure in cash and free reserves (2023 — 9.68). This is made up of 1,928,561 as cash (2023 - £1,427,218) and £nil held in Movement reserves (2023 - nil). The trustees have agreed to designate £3,822,316 (2023 - £3,953,334) to a Designated Property Reserve to better illustrate to users of the accounts what “free” reserves are available. As most of the unrestricted reserves are made up of property (which is used as part of the charitable objectives), it was felt that an element of this should be designated and shown separately.
## Investment Powers, Policy and Performance
Under the Memorandum and Articles of Association the charity has power to make any investment which the Trustees think fit. The Trustees make and hold investments using the general funds of the Fellowship.
Page 3
## Lee Abbey Fellowship
## Trustees’ Report
## Plans for future periods
We continue to remain focused on our goal to renew and serve the Church through reaching out and offering a Gospel welcome to all our visitors; running Church weekends; the development of an international Christian community; offering a quality programme of Christian discipleship and education to all ages (with a particular emphasis on renewal of the heart and spiritual formation); ministry to young people; and resourcing and supporting a life-giving spiritual centre for Christian worship and ministry. We are building on recent successes to develop the ministry at the Beacon having made this more focused on Christian education rather than merely on activities, allowing us to work on our long term aspirations to improve our communities.
We attempt both to match guest income with regular costs and to develop our fundraising as well as exploring other appropriate income streams.
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 30 April 2023.
## Structure, governance and management
## Appointment of Trustees
As set out in the Articles of Association, in addition to the power of the charity to appoint trustees in general meeting, the Board of Trustees have power to appoint an eligible person asa trustee to fill a vacancy or as an additional trustee providing that the prior agreement of the Holding Charity has been given. Any trustee so appointed by the Board will hold office only until the next Annual General Meeting.
## Trustee induction and training
New Trustees will be encouraged to spend time with the chairman of the Board, who will guide them through the induction process which includes time with the Warden and other members of the senior management team.
## Organisation
The Board of Trustees administers the charity and has a number of sub-committees covering business and finance, buildings and estate, and youth and children's ministry (including The Beacon youth and activity centre). The Trustees have delegated the day-to-day management of the operations of the charity to the Warden and the senior management team.
## Grant Making Policy
The Trustees view our bursary scheme as important in ensuring that wherever possible all those who seek to benefit from our mission who would otherwise not be able to afford the fees are able to come to Lee Abbey to meet with God. In 2023-24 we gave bursaries amounting to £56,400 (2022-3 £30,668). Bursaries are considered following application to the Warden.
Page 4
## Lee Abbey Fellowship
## Trustees’ Report
## Governance and Internal Control
Careful consideration continued to be given to risk management. Risks are categorised according to potential severity and their likely incidence. The levels of risks are regularly reviewed and procedures to mitigate those risks are set in place. In addition to its continued oversight of health and safety matters, the Board also regularly monitors safeguarding policy and procedures (both for young people and for vulnerable adults) in all aspects of its charitable activities. The Board has instructed external auditors to assist it with such oversight and monitoring, and has professional support from the Exeter Diocesan Safeguarding Team.
|Diocesan Safeguarding Team.||||
|---|---|---|---|
|Trustees|Revd D C RWiddows, (Chair)|||
||Revd Canon DrG R|Cappleman||
||Revd S Garner, (Resigned||6 December2024)|
||Revd J L C Hocking|||
||AC Male|||
||R Oates|||
||Revd P Harwood, (Appointed 7 July 2023)|||
||K Smith, (Appointed|6 December2024)||
|Secretary|CLC Secretarial Services Limited|||
|Charity Registration Number|1094097|||
|Company Registration Number|4428897|||
|Registered Office|Lee Abbey|||
||Lynton|||
||Devon|||
||EX35 6JJ|||
|Auditor|Westcotts (SW) LLP
47 Boutport Street|||
||Barnstaple|||
||Devon|||
||EX31 1SQ|||
|Bankers|National Westminster Bank||plc|
||41 High Street|||
||Barnstaple|||
||Devon|||
||EX31 1BZ|||
|Solicitors:|CarterLemon Camerons
3rd Floor, 20 King Street|||
||London|||
||EC2V8EG|||
Page 5
## Lee Abbey Fellowship Trustees’ Report
## Statement of trustees’ responsibilities
The trustees (who are also the directors of Lee Abbey Fellowship for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- * make judgements and estimates that are reasonable and prudent:
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any 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 charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination offinancial statements maydiffer from legislation in other jurisdictions.
## Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on tlio) ey and signed on its behalf by:
Revd D C R Widdows Trustee
**----- Start of picture text -----**
evd Canon G R Cappleman
Trustee
**----- End of picture text -----**
Page 6
## Lee Abbey Fellowship
## Independent Auditor's Report to the Members of Lee Abbey Fellowship
## Opinion
We have audited the financial statements of Lee Abbey Fellowship (the ‘charity') for the year ended 30 April 2024, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and applicable law (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 30 April 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor 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 abitity to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Page 7
## Lee Abbey Fellowship Independent Auditor's Report to the Members of Lee Abbey Fellowship
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 performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## Responsibilities of trustees
As explained more fully in the Statement of trustees’ responsibilities (set out on page 6), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the 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 responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Page 8
## Lee Abbey Fellowship Independent Auditor's Report to the Members of Lee Abbey Fellowship
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:
* We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the trustees and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit. * The charity is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts of disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation. « Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of interna! control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity’s internal control.
- + Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
- Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Page 9
## Lee Abbey Fellowship
## Independent Auditor's Report to the Members of Lee Abbey Fellowship
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the charity to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the charity audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
David Cresswell BA FCA (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP 47 Boutport Street Barnstaple Devon EX31 1SQ
## Date: fol 1D) Ar
Page 10
## Lee Abbey Fellowship
Statement of Financial Activities for the Year Ended 30 April 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
|||Unrestricted
funds|Restricted
funds|Total
2024|Total
2023|
|---|---|---|---|---|---|
||Note|£|£|£|£|
|Income and Endowments|from:|||||
|Donations and legacies|3|435,894|28,153|464,047|527 662|
|Charitable activities|4|1,939,936|-|1,939,936|1,810,647|
|Other trading activities|5|77,831|.|77,831|45,014|
|Investment income|6|57,553|-|57,553|11,947|
|Total income||2,511,214|28,153|2,539,367|2,395,270|
|Expenditure on:||||||
|Raising funds|7|(58,814)|-|(58,814)|(30,864)|
|Charitable activities|8|(1,997,732)|(4,007)|(2,001,739)|(1,933,217)|
|Other expenditure|9|5,100|-|5,100|-|
|Total expenditure||(2,051,446)|(4,007)|(2,055,453)|(1,964,081)|
|Net income||459,768|24,146|483,914|431,189|
|Transfers between funds||10,000|(10,000)|-|-|
|Net movement in funds||469,768|14,146|483,914|431,189|
|Reconciliation offunds||||||
|Total funds broughtforward||5,457,117|83,244|5,540,361|5,109,172|
|Totalfundscarriedforward|21|5,926,885|97,390|6,024,275|5,540,361|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 21.
The notes on pages 14 to 27 form an integral part of these financial statements. Page 11
## Lee Abbey Fellowship
## (Registration number: 4428897) Balance Sheet as at 30 April 2024
|||2024|2023|
|---|---|---|---|
||Note|£|£|
|Fixed assets||||
|Tangible assets|15|4,292,705|4,341,178|
|Current assets||||
|Stocks|16|117,991|118,893|
|Debtors|17|135,903|31,344|
|Cash at bank and in hand|18|1,928,561|1,427,218|
|||2,182,455|1,577,455|
|Creditors: Amounts falling due within one year|19|(450,885)|(378,272)|
|Net current assets||1,731,570|1,199,183||
|Net assets||6,024,275|5,540,361|
|Funds ofthe charity:||||
|Restricted income funds||||
|Restricted funds||97,390|83,244|
|Unrestricted income funds||||
|Designated Funds||3,822,316|3,935,334|
|General Funds||2,104,569|1,521,783|
|Total unrestricted funds||5,926,885|5,457,117|
|Totalfunds|21|6,024,275|5,540,361|
The financial statements on pages 11 to 27 were approved by the trustees, and authorised for issue on Ja\\2.12+4. and signed on their behalf by:
RevdDCRWiddows Trustee
The notes on pages 14 to 27 form an integral part of these financial statements. Page 12
## Lee Abbey Fellowship
## Statement of Cash Flows for the Year Ended 30 April 2024
||||2024|2023|
|---|---|---|---|---|
|||Note|£|£|
|Cash flows from operating activities|||||
|Net cash income|||483,914|431,189|
|Adjustments to cash flowsfrom non-cash items|||||
|Depreciation||7,9|(129,992)|(110,730)|
|Investment income||6|57,553|11,947|
||||(72,439)|(98,783)|
||||556,353|529,972|
|Working capital adjustments|||||
|Decrease in stocks||16|902|24,264|
|(Increase)/decrease in debtors||17|(104,559)|25,355|
|Increase/(decrease) in creditors||19|72,613|(6,881)|
|Net cash flows from operating|activities||525,309|572,710|
|Cash flows from investing activities|||||
|Interest receivable and similar|income|6|57,553|11,947|
|Purchase oftangible fixed assets||15|(81,519)|(88,420)|
|Netcash flows from investing activities|||(23,966)|(76,473)|
|Net increase in cash and cash|equivalents||501,343|496,237|
|Cash and cash equivalents at|1 May||1,427,218|930,981|
|Cashandcashequivalentsat30April|||1,928,561|1,427,218|
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 14 to 27 form an integral part of these financial statements. Page 13
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## 1 Charity status
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
The address of its registered office is: Lee Abbey Lynton Devon EX35 6JJ
## 2 Accounting policies
## Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## Statement of compliance
The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## Basis of preparation
Lee Abbey Fellowship meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
Page 14
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash ora financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
## Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## Support costs
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Page 15
## Lee Abbey Fellowship Notes to the Financial Statements for the Year Ended 30 April 2024
## Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valualiun, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Land and Buildings 10-50 years straight line Fixtures and Fittings 4-20 years straight line Motor vehicles 4 years straight line
## Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash in flow that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
## Stock
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in I&ringing the stock to its present location and condition.
## Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 16
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
## Financial instruments
## Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
## Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 17
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## 3 Income from donations and legacies
||Unrestricted|||
|---|---|---|---|
||funds
General|Restricted
funds|Total
2024|
||£|£|£|
|Donations||||
|Donations|101,175|28,153|129,328|
|LeeAbbey Friends income|50,400|-|50,400|
|Bursary donations received|69,698|-|69,698|
|Charity concessions|56,514|-|56,514|
|Legacies||||
|Legacies|158,107|-|158,107|
||435,894|28,153|464,047|
||Unrestricted|||
||funds
General|Restricted
funds|Total
2023|
||£|£|£|
|Donations||||
|Donations|201,033|17,780|218,813|
|LeeAbbey Friends income|50,400|-|50,400|
|Bursary donations received|46,253|-|46,253|
|Charity concessions|86,520|-|86,520|
|Legacies||||
|Legacies|125,676|-|125,676|
||509,882|17,780|527,662|
## 4 Income from charitable activities
||Unrestricted||
|---|---|---|
||funds|Total|
||General|2024|
||£|£|
|Camp fees|30,203|30,203|
|Beacon fees|145,298|145,298|
|Selfcatering|95,152|95,152|
|House and sundryfees|1,554,133|1,554,133|
|Estate income|113,309|113,309|
|Sundry income|1,378|1,378|
|Discounts receivable|463|463|
||1,939,936|1,939,936|
Page 18
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
||Unrestricted||
|---|---|---|
||funds|Total|
||General|2023|
||£|£|
|Camp fees|28,936|28,936|
|Beacon fees|122,152|122,152|
|Self catering|115,744|115,744|
|House and sundry fees|1,450,267|1,450,267|
|Estate income|88,738|88,738|
|Sundry income|4,376|4,376|
|Discounts receivable|434|434|
||1,810,647|1,810,647|
|5|Income from other trading activities||||
|---|---|---|---|---|
|||Unrestricted|||
|||funds||Total|
|||General||2024|
|||£||£|
||Shop income|59,491||59,491|
||Tea cottage income|18,340||18,340|
|||77,831||77,831|
|||Unrestricted|||
|||funds||Total|
|||General||2023|
|||£||£|
||Shop income|45,014||45,014|
|||45,014||45,014|
|6|Investment income||||
|||Unrestricted|||
|||funds||Total|
|||General||2024|
|||£||£|
||Bank interest receivable|57,553||57,553|
|||57,553||57,553|
|||Unrestricted|||
|||funds||Total|
|||General||2023|
|||£||£|
||Bank interest receivable|11,947||11,947|
|||11,947|~|11,947|
Page 19
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## 7 Expenditure on raising funds
## a) Costs of trading activities
||Unrestricted|||
|---|---|---|---|
||funds
General|Total
2024|Total
2023|
||£|£|£|
|Purchases|48,121|48,121|30,864|
|Tea cottage costs|10,693|10,693|-|
||58,814|58,814|30,864|
## 8 Expenditure on charitable activities
|||Unrestricted
Designated|funds
General|Restricted
funds|Total
2024|
|---|---|---|---|---|---|
||Note|£|£|£|£|
|The operation of||||||
|LeeAbbey and its||||||
|community||102,631|1,474,010|4,007|1,580,648|
|Support costs|10|-|421,091|-|421,091|
|||102,631|1,895,101|4,007|2,001,739|
|||Unrestricted
Designated|funds
General|Restricted
funds|Total
2023|
||Note|£|£|£|£|
|The operation of||||||
|Lee Abbey and its||||||
|community||99,157|1,446,397|2,472|1,548,026|
|Support costs|10|-|385,191|-|385,191|
|||99,157|1,831,588|2,472|1,933,217|
## 9 Other expenditure
|||Unrestricted||
|---|---|---|---|
|||funds|Total|
|||General|funds|
||Note|£|£|
|(Profit)/Loss on sale oftangible fixed assets||(5,100)|(5,100)|
|Totalfor2024||(5,100)|(5,100)|
Page 20
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## 10 Analysis of support costs
|Support costs allocated to charitable activities||||
|---|---|---|---|
||Support|Total|Total|
||costs|2024|2023|
||£|£|£|
|Bank charges|24,743|24,743|17,659|
|Trustees expenses|1,284|1,284|37|
|Leadership and finance training|2,976|2,976|5,554|
|Insurance|57,711|57,711|53,070|
|Activity administration|(786)|(786)|1,769|
|IT Support|103,102|103,102|97,968|
|Personnel department costs|36,661|36,661|28,566|
|Gratuities|2,257|2,257|1,000|
|Community allowances|102,937|102,937|86,068|
|Contribution to LeeAbbey Movement|36,000|36,000|36,000|
|Community sundry costs|4,039|4,039|2,061|
|Promotion costs|35,432|35,432|36,393|
|The audit ofthe charity's annual accounts|11,760|11,760|14,064|
|Legal and professional fees|2,975|2,975|4,982|
||421,091|__—421,091|__—385,191|
|11 Bursary grants||||
|||2024|2023|
|||£|£|
|Grants||56,400|_—-_—-30,668|
|12 Net incoming/outgoing resources||||
|Net incoming resources forthe year include:||||
|||2024|2023|
|||£|£|
|Profit on disposal oftangible fixed assets||(5,100)|°|
|Depreciation offixed assets||129,992|110,730|
|13Trusteesremunerationandexpenses||||
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
Travel and incidental expenses of £1,284 (2022 £37) have been reimbursed to the trustees during the year.
Page 21
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
|14 Staffcosts|||
|---|---|---|
|The aggregate payroll costs were as follows:|||
||2024|2023|
||£|£|
|Wages, salaries and community allowances|561,729|498,733|
|Social security costs|26,009|23,253|
|Employer contributions to pension plans|60,855|48,103|
||648,593|570,089|
The average head count during the year was 67 (2023: 63). The average number of full-time equivalents during the year is analysed as follows:
|equivalents during the year is analysed as follows:|||
|---|---|---|
||2024|2023|
||No|No|
|Running LeeAbbey|63|59|
|Management and Administration|4|4|
||67|63|
No employee received emoluments of more than £60,000 during the year.
## 15 Tangible fixed assets
|15 Tangible fixed assets|||||
|---|---|---|---|---|
|||Furniture|||
||Land and|and|Motor||
||buildings|equipment|vehicles|Total|
||£|£|£|£|
|Cost|||||
|At 1 May2023|6,047,227|1,110,681|161,153|7,319,061|
|Additions|20,210|54,309|7,000|81,519|
|At 30 April 2024|6,067,437|1,164,990|168,153|7,400,580|
|Depreciation|||||
|At 1 May 2023|1,833,428|1,005,432|139,023|2,977,883|
|Charge forthe year|102,631|23,420|3,941|129,992|
|At 30 April 2024|1,936,059|1,028,852|142,964|3,107,875|
|Net book value|||||
|At 30 April 2024|4,131,378|136,138|25,189|4,292,705|
|At30April2023|4,213,799|105,249|22,130|4,341,178|
Page 22
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
|16 Stock|||
|---|---|---|
||2024|2023|
||£|£|
|Raw materials and consumables|117,991|118,893|
|17 Debtors|||
||2024|2023|
||£|£|
|Prepayments|30,411|30,679|
|VAT recoverable|-|665|
|Other debtors|105,492|-|
||135,903|31,344|
|18 Cash and cash equivalents|||
||2024|2023|
||£|£|
|Cash on hand|990|4,005|
|Cash at bank|1,927,571|1,423,213|
||1,928,561|1,427,218|
|19 Creditors: amounts falling due within one year|||
||2024|2023|
||£|£|
|Trade creditors|62,292|53,112|
|Payments on account|309,062|278,465|
|Due to group undertakings|37,428|12,404|
|Other taxation and social security|4,255|4,080|
|VAT repayable|5,401|=|
|Other creditors|10,086|7,382|
|Accruals|22,361|22,829|
||450,885|378,272|
## 20 Pension and other schemes
## Defined contribution pension schemes
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £60,855 (2023: £48,103).
Page 23
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
|21 Funds||||||
|---|---|---|---|---|---|
||Balance at||||Balance at|
||1 May|Incoming|Resources||30 April|
||2023|resources|expended|Transfers|2024|
||£|£|£|£|£|
|Unrestricted funds||||||
|General Funds|1,115,939|2,511,214|(1,921,454)|(71,519)|1,634,180|
|Fixed Asset Reserves|405,844|-|(27,361)|91,906|470,389|
||1,521,783|2,511,214|(1,948,815)|20,387|2,104,569|
|Designated||||||
|Property Reserve|3,935,334|-|(102,631)|(10,387)|3,822,316|
|Total unrestricted funds|5,457,117|2,511,214|(2,051,446)|10,000|5,926,885|
|Restricted funds||||||
|Estate & Buildings|-|30|(30)|”|-|
|Inglis fund|3,008|-|(3,008)|-|-|
|Mission & Outreach|14,154|12,764|-|-|26,918|
|Community Project|1,750|-|-|.|1,750|
|Provision of Hydro||||||
|Electric Power|7,229|470|(659)|-|7,040|
|Special Projects|23,582|-|-|-|23,582|
|Camp Friends|33,521|4,649|(70)|-|38,100|
|Devon Ministries|“|240|(240)|s|<|
|Hopeswood|-|10,000|~|(10,000)|-|
||83,244|28,153|(4,007)|(10,000)|97,390|
|Totalfunds|5,540,361|2,539,367|(2,055,453)|-|6,024,275|
Page 24
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
||Balance at||||Balance at|
|---|---|---|---|---|---|
||1 May|Incoming|Resources||30 April|
||2022|resources|expended|Transfers|2023|
||£|£|£|£|£|
|Unrestricted funds||||||
|General Funds|677,748|2,377,490|(1,850,879)|(88,420)|1,115,939|
|Fixed Asset Reserves|382,519|-|(11,573)|34,898|405,844|
||1,060,267|2,377,490|(1,862,452)|(53,522)|1,521,783|
|Designated||||||
|Property Reserve|3,980,969|-|(99,157)|53,522|3,935,334|
|Total unrestricted funds|5041,236|2,377,490|(1,961,609)|-|5,457,117|
|Restricted funds||||||
|Estate & Buildings|-|225|(225)|=|-|
|Inglis fund|2,988|20|-|-|3,008|
|Mission & Outreach|-|14,259|(105)|-|14,154|
|Community Project|1,750|-|-|=|1,750|
|Provision of Hydro||||||
|Electric Power|8,381|830|(1,982)|-|7,229|
|Special Projects|23,332|250|-|-|23,582|
|Camp Friends|31,485|2,036|-|-|33,521|
|Devon Ministries|-|160|(160)|-|-|
||67,936|17,780|(2,472)|-|83,244|
|Totalfunds|5,109,172|2,395,270|(1,964,081)|-|5,540,361|
Page 25
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
The specific purposes for which the funds are to be applied are as follows:
The provision of Hydro Electric Power fund is a donation towards the maintenance of Hydro Electricity for Lee Abbey Fellowship in Lynton.
## Donations received from Camp Friends to be utilised against camp costs.
Special Projects - the special projects fund receives restricted donations for specific projects due to take place.
The Inglis fund provides breaks for bereaved families.
The Devon Ministries fund provides support for Lee Abbey mission, ministry and community.
The Estate and Buildings fund provides support for the Lee Abbey environment, house and estate. Mission and Outreach, these are funds given to support the missional activities of the Charity. Community Project - these donations were given for the community accommodation development.
Hopeswood - these amounts were donated to support the capital expenditure projects within the Charity.
During the year £10,000 was transferred from restricted to unrestricted. This was the amount donated from Hopeswood for capital expenditure projects, and it is deemed that once the capital item has been purchased, the restriction is lifted.
## 22 Analysis of net assets between funds
|22 Analysis of net assets between|funds|||
|---|---|---|---|
||Unrestricted
funds
General|Restricted
funds|Total funds
at30 April
2024|
||£|£|£|
|Tangible fixed assets|4,292,705|.|4,292,705|
|Current assets|2,085,065|97,390|2,182,455|
|Current liabitities|(450,885)|-|(450,885)|
|Total net assets|5,926,885|97,390|6,024,275|
||Unrestricted
funds
General|Restricted
funds|Total funds
at30 April
2023|
||£|£|£|
|Tangible fixed assets|4,341,178|-|4,341,178|
|Current assets|1,494,211|83,244|1,577,455|
|Current liabilities|(378,272)|-|(378,272)|
|Totalnetassets|5,457,117|83,244|5,540,361|
Page 26
## Lee Abbey Fellowship
## Notes to the Financial Statements for the Year Ended 30 April 2024
## 23 Related party transactions
During the year the charity made the following related party transactions: Payments to The Lee Abbey Movement Payments to The Lee Abbey Movement £36,000 (2023 - £36,000).
Receipts from The Lee Abbey Movement Receipts from The Lee Abbey Movement £50,400 (2023 - £50,400).
Contribution from The Lee Abbey Movement for administrative expenses Contribution from The Lee Abbey Movement for administrative expenses £6,238 (2023 - £6,238). An amount owed by The Lee Abbey Movement An amount owed by The Lee Abbey Movement £37,428 (2023 - £12,404 due to).
## 24 Controlling party
The holding company is The Lee Abbey Movement which is the sole guarantor of this company.
The liability of the guarantor is limited to £1.
Consolidated accounts are available on request from the registered office.
Page 27
## Lee Abbey Fellowship
## Detailed Statement of Financial Activities for the Year Ended 30 April 2024
||Total|Total|
|---|---|---|
||2024|2023|
||£|£|
|Income and Endowments from:|||
|Donations and legacies (analysed below)|464,047|527 662|
|Charitable activities (analysed below)|1,939,936|1,810,647|
|Othertrading activities (analysed below)|77,831|45,014|
|Investment income (analysed below)|57,553|11,947|
|Total income|2,539,367|2,395,270|
|Expenditure on:|||
|Raising funds (analysed below)|(58,814)|(30,864)|
|Charitable activities (analysed below)|(2,001,739)|(1,933,217)|
|Otherexpenditure (analysed below)|5,100|-|
|Total expenditure|(2,055,453)|(1,964,081)|
|Net income|483,914|431,189|
|Net movement in funds|483,914|431,189|
|Reconciliation offunds|||
|Total funds brought forward|5,540,361|5,109,172|
|Totalfundscarriedforward|6,024,275|5,540,361|
This page does not form part of the statutory financial statements. Page 28
## Lee Abbey Fellowship
## Detailed Statement of Financial Activities for the Year Ended 30 April 2024
||Total|Total|
|---|---|---|
||2024|2023|
||£|£|
|Donations andlegacies|||
|Donations|129,328|218,813|
|Lee Abbey Friends income|50,400|50,400|
|Bursary donations received|69,698|46,253|
|Charity concessions|56,514|86,520|
||305,940|401,986|
|Charitable activities|||
|Camp fees|30,203|28,936|
|Beacon fees|145,298|122,152|
|Self catering|95,152|115,744|
|House and sundry fees|1,554,133|1,450,267|
|Estate income|113,309|88,738|
|Sundry income|1,378|4,376|
|Discounts receivable|463|434|
||1,939,936|1,810,647|
|Othertrading activities|||
|Shop income|59,491|45,014|
|Tea cottage income|18,340|~|
||77,831|45,014|
|Investmentincome|||
|Interest on cash deposits|57,553|11,947|
||57,553|11,947|
|Raising funds|||
|Purchases|(48,121)|(30,864)|
|Tea cottage costs|(10,693)|=|
||(58,814)|(30,864)|
|Charitable activities|||
|Grants payable - individuals|(56,400)|(30,668)|
|Bank charges|(24,743)|(17,659)|
|Trustees expenses|(1,284)|(37)|
|Leadership and finance training|(2,976)|(5,554)|
|Insurance|(57,711)|(53,070)|
|Activity administration|786|(1,769)|
|IT Support|(103,102)|(97,968)|
|Personnel department costs|(36,661)|(28,566)|
|Gratuities|(2,257)|(1,000)|
This page does not form part of the statutory financial statements. Page 29
‘
## Lee Abbey Fellowship
## Detailed Statement of Financial Activities for the Year Ended 30 April 2024
||Total|Total|
|---|---|---|
||2024|2023|
||£|£|
|Communityallowances|(102,937)|(86,068)|
|Contribution to LeeAbbey Movement|(36,000)|(36,000)|
|Communitysundry costs|(4,039)|(2,061)|
|Promotion costs|(35,432)|(36,393)|
|The audit ofthe charity's annual accounts|(11,760)|(14,064)|
|Legal and professional fees|(2,975)|(4,982)|
|Wages and salaries|(422,131)|(384,099)|
|StaffNIC (Employers)|(26,009)|(23,253)|
|Staff pensions (Defined contribution) - pension scheme 1|(60,855)|(48,103)|
|Repairs and maintenance|(88,326)|(78,433)|
|The Beacon|(22,358)|(32,622)|
|Activity Conference pastoral and audio|(62,952)|(41,582)|
|Camp costs|(36,074)|(33,912)|
|Estate costs|(42,662)|(71,366)|
|Rates|(77,942)|(112,538)|
|Light, heatand power|(161,557)|(197,840)|
|Exceptional repairs|(20,854)|(53,659)|
|Catering costs|(368,930)|(329,221)|
|Motorexpenses|(3,606)|-|
|Depreciation offreehold property|(102,631)|(99,157)|
|Depreciation offixtures and fittings|(23,420)|(7,632)|
|Depreciation of motorvehicles|(3,941)|(3,941)|
||(2,001,739)|(1,933,217)|
|Otherexpenditure|||
|(Profit)/loss on disposal oftangible fixed assets|5,100|-|
||5,100|-|
This page does not form part of the statutory financial statements. Page 30