Company registration number.. 04428832
Charity registration number". 1094098
Lee Abbey Movement
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 April 2024
WESTCOTTS
CHARTERED ACCOUNTANTS
& BUSINE$$ ADVISERS

Lee Abbey Movement
Contents
Trustees, Report
1to6
Independent Auditors, Report
7t010
Consolidated Statement of Financial Activities
Consolidated Balance Sheet
12
Individual Balance Sheet
13
Consolidated Statement of Cash Flows
14
Individual Statement of Cash Flows
15
Notes to the Financial Statements
16to36

Lee Abbey Movement
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together
wrth the financial statements and auditors, report of the charitable company for the year ended 30
April 2024.
Objectives and activities
The charitvs 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 Christ Jesus.
These objects are fulfilled through the activitieF of the Lee Abbey Movement itself and its three
operating subsidiary charities: Lee Abbey Fellowship {aka Lee Abbey Devon), Lee Abbey
International Students, Club (aka Lee Abbey London) and Lee Abbey Household Communities (aka
Lee Abbey Small Missional Communities). The participation and prayer support of the Lee Abbey
Friends continues to be a powerful tool for meeting these objects.
Achievements and perforniance
Revlew of Activltles and Achlevements
The Council has continued to keep the governance structures introduced in 2006 under review and
continues to be encouraged by the way in which the three subsidiary Boards work as constituent and
contributing parts of the Movement. This has been due, in no small part, to the leadership of their
Chairs.. Sandy Pepper (London), Andy Wooding Jones (SMCS) and David Widdows (Devon), and to
the commitment and skills of Board members. Council wishes to put on record its sincere appreciation
of the dedication. care and skill they all bring to their respective Boards.
The supportive relationships Boards have with local management teams and communities, led by
their respective leaders. is important in achieving successful outcomes.
Movement
All of the constituent parts of the Movement have been operating in a normal capacity; guests have
been vrfelcomed in Devon, students welcomed in London and the Small Missional Communities
continue to function well.
As part of our ongoing management of the Movement and its constituent parts, Council and Board
meetings were held. keeping the missional and financial status of the Movement under constant and
appropriate review.
The Communities of Lee Abbey, fomally Acknowledged by the Church of England (as
multi-denominational Communities) continue to develop in all their diverse expressions.
London (Lee Abbey Intemational Students Club)
student occupancy in the hostel has retumed to pre-pandemic levels, resulting in a signfficant
increase in regular income. To ensure the charities continuing financial sustainability we have
continued to seek altemative sources of income, mindful always of our charitable objects and the Lee
Abbey Movement's purpose to communicate Christ through relationships.
Further detsils are available in the individual charities. trustees, annual report.
Page 1

Lee Abbey Movement
Trustees. Report
Small Missional Communities (Lee Abbey Household Communitles)
During the year, new members joined our communities and others left as part of the natural process
of community evolution. The Small Missional Community established in Ford, Plymouth in conjunction
with the Diocese of Exeter continued to operate well and the Aston and Knowle West communities
continue to engage in mission in their local areas.
Further details are available in the individual charities, trustees annual report.
Devon (Lee Abbey Fellowship)
This year Devon has been fully open and therefore able to carry out the core charitable objects of
Conferen￿5. retreats, courses and Christian holidays. in the main House, Beacon, self-catering units
and at the Camp. The estate and fami continue to be managed well, and several new initiatives and
projects have been initiated.
Further detai18 are available in the individual charities, tnjstees. annual report.
Public benefft
Lee Abbey Movem8nt is the holding charity of its three subsidiary charities. Its primary activty has
been the oversight of its operating subsidiaries including the monitoring of their activities for public
benefit. In monitoring those activities, the Council has kept well in mind the Charity Commission's
general guidan￿ on public benefit., and in particular its supplementary guidance on the advancement
of religion and fee-charging.
The beneficiaries of the charty include the members of all Communities as well as those whom we
welcome in the name of Christ to stay either in Devon or in London and those who are served by the
Household Communities. An important aspect of the ministry of the charity is an encouragement and
equipping of members of Communities 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 seNing other
people from any background or culture. They also obtain work skills as well as skills in ministry and
worship that they can use in the future. The Council view our bursary schemes as important in
ensuring that wherever possible all those who seek to benefit from the mission who would othenmise
not be able to afford the fees are able to come to Lee Abbey. In 2024 bursaries amounting to
£120,366 (2023 £94,966) were given. Bursaries are considered following application to the Warden in
Devon and the Director in London.
The Lee Abbey Movement has made a number of direct grants in carying out its charitable purposes
during the year. Most of the grants have been made to its three subsidiaries to assist them in fulfilling
their charitable objectives for the benefft of the public in the particular ways specified in their Trustees,
reports. The Council considers that each of these grants has been for the benefit of the public within
the guidelines issued by the Charity Commissioners.
Going Concern
All of the constituent parts of the Movement have been operating in their usual capacty., guests have
been welcomed in Devon, students welcomed in London and the Small Missional Communities
ontinue to function well.
As part of our ongoing management of the Movement and its constituent parts, Council and Board
meeting were held, keeping the missional and financial status of the Movement keep under constant
and appropriate review.
Page 2

Lee Abbey Movement
Trustees, Report
The Trustees continue to take the necessary management actions to ensure the charity's activities
continue to flourish. They have determined that when the accounts were prepared there was not
material uncertainty that casts significant doubt on the charitys ability to continue as a going concem
for the foreseeable future.
Financial review
The Lee Abbey Movement itself not including the activities of ts subsidiaries made a surplus of
£38,773 (2023 £119,876) on unrestricted funds restricted funds for the year. Overall the cash position
of the Movement remains very solid vthich enables appropriate levels of reserves and cash to cover
other requirements to be held in accordance with good governance praCti￿S.
Principal Funding Sources
The Lee Abbey Movement's principal funding sources continue to be Friends. donations and
contributions from our subsidiary charities. We continue to be grateful to The Lee Abbey Friends for
donations amounting to £130.389 (2023 £223.187).
Reserves
The running costs of The Lee Abbey Movement are financed by contributions from our subsidiary
charities. As such the charity requires only minimal unrestricted reserves.
Investment Powers, Policy and Performance
Under the Memorandum and Articles of Association the charity has power to make any investment
which the Trustees think frt.
Plans for future perlods
The Council is continuing to develop and implement ts strategic Plan 'lnterpreting the Lee Abbey
Vision for Todav. The headlines of which are:
Our purpose: To enable all people to encounter the living Christ
Our Vision: Communicating Christ through relationships
- Our Goal: To reach out to offer God's welcome in Devon, London and the SMC'S
Our Strategic Priorities: The advancement of the Christian faith through the ministry of Communities
Our Enabling Priorities: Implementation and Operational Plan Details
The Boards of the subsidiary charities are considering how they should develop their own plans viithin
this overall approach. The overall plan will also be supported by a number of enabling plans such as
Mission Plan. Communications Plan and Governan￿ Plan.
Senior Management
The Council has delegated the day to day management of the operations of the charity to the
Executive Chair and Secretary of the Council.
Page 3

Lee Abbey Movement
Trustees. Report
Appointment of Trustees
As set out in the Articles of Association the Council may appoint a person who is willing to act to be a
trustee either to fill a vacancy or as an addrtional trustee. A Council member so appointed will hold
office only until the next Annual General Meeting.
Trustee Induction and Training
New trustees are encouraged to spend time with the Executive Chair of Council, who will guide them
through the induction prO￿sS which includes visits to the operational charities and time with their
senior management teams.
Organisation
The Council administers the charity and sets up sub-committees and working groups as necessary.
The Council has delegated the day to day management of the subsidiary charities to the Local Boards
of Trustees and their senior management teams.
Grant Maklng Policy
The Trustees view our bursary schemes as important in ensuring that wherever possible all those who
seek to benefit from our mission who would otherwise not be able to afft)rd the fees are able to come
to Lee Abbey in Devon or London
Governance and Internal Control
Careful consideration continued to be given to risk management. Risks are categorised according to
potential severity and their likety incidence. The levels of risks are regularly reviewed and procedures
to mitigate those risks are set in place. In addttion to its continued oversight of health and safety
matters. the Board also regularly monitors safeguarding F)olicy 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.
Page 4

Lee Abbey Movement
Trustees. Report
Reference and Administrative Detalls
Charity Registration Number..
Company Registration Number..
1094098
04428832
The charity is incorporated in England and Wales.
Lee Abbey
Lynton
Devon
EX35 6JJ
Registered Offi￿.
Trustees and Officers
The trustees and officers serving during the year and since the year end were as follows:
Trustees..
Revd Canon Dr G R Cappleman. (Chair)
SrSPBerry
S M Edmondson
DrMAPaul
ProfA A Pepper
Revd P A V Rossum (resigned 6 December 2024)
Revd J H Simmons (resigned 20 September 2024)
Revd D C R Widdows
Revd M R Eastwood Dewing
PJPark
The Ven A Wooding Jones
Secretary:
Auditor-
CLC Secretarial Services Limited
Westcotts (SW) LLP
47 Boutport Street
Bamstaple
Devon
EX311SQ
Bankers".
National Westminster
41 High Street
Barnstaple
Devon
EX31 1BZ
Solicitors..
Carter Lemon Camerons LLP
3rd Floor, 20 King Street
London
EX2V 8EG
Page 5

Lee Abbey Movement
Trustees. Report
Statement of trustees. responslbilities
The trustees (who are also the directors of Lee Abbey Movement for the purposes of company law)
are responsible for preparing the trustees, report and the financial statements in accordan￿ 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 sL*e of affairs of the parent charitable company and the group
and of the incoming resources and application of resources. including its income and expenditure, of
the charitable group for that period. In preparing these financial statements, the trustees are required
to=
select suitable accounting policies anrj 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 concem basis unless it is inappropriate to presume
that the parent 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 parent charitable company and the group 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 parent charitable company and the group and hence for
tsking reason8ble 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 goveming the preparatton and
dissemination of financial statements may differ from legislation in other jurisdictions.
Disclosu￿ 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
infomiation. The trustees confirm that there is no relevant infomiation 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
behalf by..
and signed on its
evd Canon D
Chairman and
R Cappleman
rugtee
Page 6

Lee Abbey Movement
Independent Auditor's Report to the Members of Lee Abbey Movement
Opinion
We have audited the financial statements of Lee Abbey Movement (the 'charitable parent companw)
and its subsidiaries {the 'group') for the year ended 30 April 2024, which comprise the Consolidated
Statement of Financial Activities, Consolidated Balance Sheet,
Individual Balance Sheet,
Consolidated Statement of Cash Flows, Individual Statement of Cash Flows and Notes to the
Financial Statements, including a summary of signrficant 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 Practi￿}.
In our opinion the financial statements:
give a true and fair view of the state of the group's and parent 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 accordan￿ 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 Intemational 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 group in accordance with the ethical requirements that are rel8vant 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 wf(h these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to golng concern
In auditing the financial statements, we have concluded that the trustees use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, Nve have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the group's ability
to continue as a going concern for a period of at least bNelve 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 infomiation. The other infonnation comprises the
inforniation included in the annual report, other than the financial statements and our auditorfs 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 Movement
Independant Auditor's Report to the Members of Lee Abbey Movement
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 infomiation 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 infornation. If, based on the work we have performed, we conclude
that there is a material mi55tatement of this other infomiation, 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 infornation given in the and Trustees, Report for the financial year for which the financial
statements are prepared is consistent with the financial ststements,. and
the and Trustees, Report have been prepared in accordance wtth applicable legal ￿qUirements.
Matters on which we are required to ￿port by exceptlon
In the light of our knowledge and understanding of the group and the parent charitable company and
its environment obtained in the course of the audit, y￿ have not identified material mtsstatements in
the and 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 by the parent charitsble company, Dr returns
adequate for our audit have not been rec8ived from branches not visited by us,. or
the parent charitable company 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 ￿sponsible 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 abilty 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.
Page 8

Lee Abbey Movement
Independent Auditorfs Report to the Members of Lee Abbey Movement
Audltor responslbilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are f￿e from material misstatement, whether due to fraud or error, and to issue an auditorfs 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed
below:
We identified areas of law 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 charity is
also subject to other laws and regulations where the consequences of nonwcompliance could have
a material impact on the amounts or disclosures within the financial statements, including
employment, anti-bribery, anti-money laundering and certain aspects of companies legislation.
ing 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 irreguladities, 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 wrth ISAS {UK), y￿ exercise professional judgement and maintain
professional 8￿ptICisM 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 approprtate 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 internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstsnces, but not for the purpose of expressing an opinion on the
effectiveness of the group's intemal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Page 9

Lee Abbey Movement
Independent Auditor's Report to the Members of Lee Abbey Movement
Conclude on the appropriateness of the trustees use of the going concem 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 group's or the parent charitable companWs ability
to continue as a going concern. If Y￿ conclude that a material uncertainty exists, we are required
to draw attention in our auditorfs report to the related disclosures in the financial statements or, rf
such disclosures are inadequate, to modfy our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditorfs report. However, future events or conditions may
cause the group or the parent charitable company to cease to continue as a going cOn￿rn.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosure5, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicate with those charged with govemance 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 parent company's trustees, as a body, in 8ccordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the group's trustees those matters we are required to state to them in an auditorfs
report and for no other purpose. To the fullest exient pemitted by law, we do not accept or assume
responsibility to anyone other than the charitable parent company and its trustees as a body, for our
audit work, for this report. or for the opinions we have fomied.
David Cresswell BA
CA (Senior StatLrtory Auditor)
For and on behalf of Westcotts (SW) LLP. Statutory Auditor
47 Boutport Street
Bamstaple
Devon
EX311SQ
Page 10

Lee Abbey Movement
Consolidated Statement of Financial Activltles for the Year Ended 30 April 2024
(Including Consolidated Income and Expenditure Account and Statament of
Total Recognised Gains and Losses)
Unrestricted
funds
Restrlcted
funds
Total
2024
Totsl
2023
Note
Income and Endowments from"
Donations and legacies
Charitable activities
Other trading activities
Interest on cash deposits
Totsl income
525.105
4,350,779
86,765
77,062
80,853
605,958
4,350,779
86,765
77,062
768,055
4,034.025
81,579
13,912
5.039,711
80,853
5,120,564
4.897,571
Expenditure on:
Raising funds
Charitsble activities
Other expenditure
(58,814)
(4.294,766)
5,100
158,814)
(4,360,105)
5,100
(30.864)
(4,087.135)
{65,339)
Total expenditure
(4,348,480)
(65,339)
4,413,819)
(4,117,999)
Net income
Transfers between funds
691,231
11,168
15,514
{11,168
706,745
779,572
Net movement in funds
702,399
4,346
706,745
779.572
Reconclllation of funds
Total funds brought forward
Total funds carried forward 20
10,063.391
191,021
10,254,412
10,981,157
9,474,840
10,765,790
195,367
10,254,412
All of the group's activities derive from continuing operations during the above ￿ periods.
The funds breakdown for 2023 is shown in note 20.
The notes on pages 16 to 36 form an integral part of these financial statements.
Page11

Lee Abbey Movement
(Registration number: 04428832)
Consolidated Balance Sheet as at 30 April 2024
2024
2023
Note
Fixed assets
Tangible assets
15
9,987,117
10,098,958
Current assets
Stocks
Debtors
Cash at bank and in hand
16
17
117,991
194.507
3,028.071
118,892
108,404
2.766,108
3,340.569
2.993,404
c￿ditors. Amounts falling due within one year
Net current assets
18
(1,415,845)
(1.351,741)
1.924,724
1.641.663
Total assets less current Ilabllities
11,911,841
11.740,621
Creditors: Amounts falling due after more than one year 19
Net assets
(950,684)
10,961,157
1,486,209)
10,254,412
Funds of the group:
Restricted income funds
Restricted funds
195,367
191,021
Unrestrlctsd income funds
Designated Funds
General Funds
7,857,073
2,908,717
7,774,101
2,289,290
Total unrestricted funds
10,765,790
10,C63.391
Total funds
20
10,961.157
10,254,412
The financial statements on pages 11 to 36 were approved by the trustees, and authorised for issue
onb.l.ia%*- ... and signed on their behalf by..
ev
Cano
Chaimian
r G R Cappleman
nd trustee
The notes on pages 16 to 36 form an integral part of these financial statements.
Page 12

Lee Abbey Movement
(Registration num ber: 04428832)
Individual Balance Sheet as at 30 Aprll 2024
2024
2023
Note
Current assets
Debtors
Cash at bank and in hand
17
1,238,698
287,425
1,417,819
657,681
2,075,500
(299,868)
1,526,123
Creditors: Amounts falling due wlthln one year
Total assets less current liabilities
18
(245,350)
1,280,773
1,775,632
{1,486,209}
289,423
Creditors: Amounts falling due after more than one year 19
(952,577
328,196
Net assets
Funds of the charlty:
Unrestrictsd incom8 funds
Unrestricted funds
328,196
289,423
Total funds
20
328,196
289,423
The financial statements on pages 11 to 36 were approved by the trustees, and authorised for issue
on .tylJgxi. .. and signed on their behalf by:
evd Canon
Chairman
GRCapp
d trustee
eman
The notes on pages 16 to 36 fom an integral part of these financial statements.
Page 13

Lee Abbey Movement
Consolidated Ststement of Cash Flows for the Year Ended 30 April 2024
2024
2023
Note
Cash flows from 0￿ratIng activities
Net cash income
706.745
779,572
Adjustments to cash flows from non-cash items
Depreciation
Investment income
426,102
(77,062)
405,776
13,912)
1,171,436
1,055,785
Working capitsl adjustments
Decrease in stocks
Increase in debtors
Increase in creditors
16
17
18
901
(86,103)
115,020
32,626
(35.947)
400,728
Net cash flows from operating activitses
Cash flows from Investing activities
Interest re￿Ivable and similar income
Purchase of tangible fixed assets
Net cash flows from investing activities
Cash flows from financing actlvltles
Repayment of loans and borrowings
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 May
Cash and cash equivalents at 30 April
1,085,603
1,568,843
77,062
314,261)
13,912
(98,634)
15
(237.199)
(84,722)
18
(586,441)
(583,270)
261,963
900,851
2,766,108
3,028,071
1,865,257
2,766,108
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 16 to 38 form an integral part of these financial statements.
Page 14

Lee Abbey Movement
Individual Statement of Cash Flows for the Year Ended 30 April 2024
2024
2023
Nots
Cash flows from operating activitles
Net cash income
38,773
119.876
Adjustments to cash flows from non-cash items
Investment income
(5,177)
33,596
1.518)
118.358
Working capital adjustments
Decrease in debtors
(Decrease)lincrease in creditors
179,121
(3,602)
540,181
7.917
18
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
209,115
666,456
5,177
1,518
Cash flows from financing activltles
Repayment of loans and borrowings
Net (decrease)lincrease in cash and cash equivalents
Cash and cash equivalents at 1 May
Cash and cash equivalents at 30 April
18
{584,548)
(625,173)
(370,256)
657,681
42,801
614,880
287,425
657,681
All of the cash flows are derived from continuing operations during the above periods.
The notes on pages 16 to 36 forni an integral part of these financial statements.
Page 15

Lee Abbey Movement
Notes to tha 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 exc&ding £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 estlmates
The principal accounting policies applied in the preparation of these financial statements are $8t out
below. These policies have been consistently applied to all the years presented, unles5 Otherwise
stated.
Statement of compllance
The financi81 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 preparatlon
Lee Abbey Movement meets the definition of a public benefit entty under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy notes.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the charity and its
subsidiary undertakings drawn up to 30 April 2024.
No ststement of financial activities is presented for the charity as permitted by section 408 of the
Companies Act 2006. The charity made a surplus after tsx for the financial year of £38.773 (2023 -
surplus of £119.876).
Page 16

Lee Abbey Movement
Notes to the Financial Ststsments for the Year Ended 30 Aprll 2024
A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power
to govern the financial and operating policies of an entty so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the statement of
financial activities from the effective date of acquisition or up to the effective date of disposal. as
appropriate. Where necessary, adjustments are made to the financial Statements of subsidiaries to
bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the
acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair
value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of
exchange, plus costs directly attributable to the business combination. Identifiable assets acquired
and liabilities and contingent liabilities assumed in a business combination are measured initially at
their fair values at the acquisition date. Any eX￿$S of the cost of the business combination over the
acquirer's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities
recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions be￿e￿n the charity and
its subsidi8ries, which are related parties, are eliminated in full.
Intra￿rOup losses are also eliminated but may indicate an impaimient that requires recognition in the
consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with
the policies adopted by the group. Non-controlling interests in the net assets of consolidated
subsidiaries are identified separately from the group's equity therein. Non-controlling interests consist
of the amount of those interests at the date of the original business combination and the
non-controlling shareholderfs share of changes in equty since the date of the combination. Total
comprehensive income is attributed to non-controlling interests even if this results in the
non-controlling interests having a deficit balance.
Going concern
The trustee5 consider that there are no material uncertainties about the group's abilty to continue as
a going concem nor any significant areas of uncertainty that affect the carrying value of assets held by
the group.
Income and endowments
All income is recognised once the charity has entiuement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Page 17

Lee Abbey Movement
Notes to tha Financial Statements for the Year Ended 30 April 2024
l)onadons and legaelés
t)onations 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 charrty 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
perrod.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administratorlexecutor 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 or a financial asset traded on
a recognised stock exchange. recognition is subject to the value of the gift being reliably measurable
wtth a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Grants receivable
Grants are recognised when the group has an entiuement to the funds and any conditions linked to
the grants have been met. Where perf0mlan￿ conditions are attached to the grant and are yet to be
met, the income is recognised as a liabilty and included on the balan￿ sheet as deferred income to
be released.
Investment Income
Dividviids 8fv i ecogi ii3ed G-,
the dividend due.
e the %•ividep.A has b=8n dAp!ared And notifipatiOD. has be.pn received of
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
inCu￿ed 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 d1￿CtlY to such activittes
and those costs of an indirect nature necessary to support them.
Grantpmvisions
Provisions for grants Sre 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.
Page 18

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
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.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the exient that such income or gains are
applied exclusively to charitable purposes.
Tangible flxed assets
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation
and subsequent accumulated impairment losses.
Depreciation and amortlsation
Depreciation is provided on tangible fixed assets so as to wrtte off the cost or valuation. less any
estimated residual valu8, over their expected useful economic life as follows..
Asset class
Land and buildings
Major buildings improvements
Fixtures, fittings and equipment
Motor vehicles
Depreciation method and rate
10-50 years straight line
10-15 years
4-20 year straight line
4 years straight line
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after
due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Interest-bearing borrowings are subsequently carried at amortised cost, with the differen￿ between
the proceeds. net of transaction costs, and the amount due on redemption being ￿COgnised as a
charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer
settlement of the liability for at least hvefve months after the reporting date.
Page 19

Lee Abbey Movement
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 group.
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.
Pensions and other post retirement obligations
The Lee Abbey Movement participates in the Pension Builder Scheme section of the CWPF for lay
staff. The Scheme is administered by the Church of England Pensions Board, which holds the assets
of the schemes Separate￿ from those of the Employer and the other participating employers.
The Church Workers Pension Fund has a section knovm as the Defined Benefrts Scheme, a deferred
annuity section known as Pension Builder Classic and a cash balan￿ section known as Pension
Builder 2014. The Pension Builder Scheme of the Church Workers Pension Fund is made up of
sections, Pension Builder Classic and Pension Builder 2014. both of which are classed as defined
benefrt schemes.
Pension Builder Classic provides a pension for members for payment from retirement, accumulated
from contributlons paid and converted into a deferred annuity during employment based on tems set
and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be
declared, depending upon the investment returns and other factors.
Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to
provide benefits at reitirement. Pension contributions are recorded in an account for each member.
This account may have bonuses added by the Board before retirement. The bonuses depend on
investrnent experience and other factors. There is no requirement for the Board to grant any bonuses.
The account, plus any bonuses declared, is payable from members, Nomial Pension Age. There is no
sub-division of assets bebNeen employers in each section of the Pension Builder Scheme.
The scheme is considered to be a rnulti-employer scheme as described in Section 28 of FRS 102.
This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to
specific employers and that contributions are accounted for as if the Scheme were a defined
contribution scheme.
A valuation of the scheme is carried out once every three years. The most recent scheme valuation
completed was ￿rried out as at 31 December 2016. This revealed. on the ongoing assumptions
used. a surplus of £0.5m. There is no requirement for deficit payments at the current ts"me.
Pension Builder 2014 will be valued in relation to the lump sum payable to members at normal
pension age. There are no annual pension benefits. Pension Builder 2014 commenced in February
2014 so the first full valuation of that section will be carried out at the next CWPF valuation date, 31
December 2016.
Page 20

Lee Abbey Movement
Notes to the Flnancial Ststements for the Year Ended 30 April 2024
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the group 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 instnjment is any contract that evidences a residual interest in
the assets of the group 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 nomially 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 liabilty is measured at the present value of the future
payTnents 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 group 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 group trdnsfers to another party substantially all of
the risks and rewards of ownership of the financial asset, or c) the group, 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.
3 Income from donations and legacies
Unrestricted
fund5
General
Restricted
funds
Total
2024
Donations and legacies.,
Donations from individuals
Legacies
365,090
160,015
80,853
445,943
160,015
525,105
80,853
605,958
Page 21

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
Unrestrlcted
funds
General
Restricted
funds
Total
2023
Donations and legacies;
t)onations from individuals
Legacies
Grant5. including capital grants"
Grants from other charities
484,032
215,277
66,746
550,778
215.277
2,000
2,000
768.055
699,309
68,746
4 Income from charitable activities
Unrestrlcted
funds
General
Total
2024
Camp fees - Fellowship
Beacon fees - Fellowship
Self catering
House and sundry fees- Fellowship
Fees - LAISC
Estate income- Fellowship
Sundry income
Discounts receivable
30,203
686,942
95,437
1,554,133
1,839,443
113,309
30,849
463
30,203
686.942
95.437
1,554,133
1,839,443
113.309
30,849
463
4,350,779
4,350,779
Unrestricted
funds
General
Total
2023
Camp fees- Fellowship
Beacon fees - Fellowship
Self catering
House and sundry fees- Fellowship
Laundrette income- LAISC
Fees - LAISC
Estate incom& Fellowship
Sundry income
Discounts receivable
28,936
634,659
119,841
1,450,267
960
1.670,344
88,738
39.846
434
28.936
634.659
119.841
1,450,267
960
1,670,344
88,738
39.846
434
4,034,025
4,034,025
Page 22

Lee Abbey Movement
Notes to the Flnancial Statements for the Year Ended 30 April 2024
5 Income from other trading actlvltles
Unrestricted
funds
General
Total
2024
Trading income;
Sales of goods and services
Other trading income
Propety rental income
18,340
59,491
8,934
86.765
18.340
59,491
8,934
86,765
Unrestricted
funds
General
Total
2023
Trading income;
Other trading income
Property rental income
45,014
36,565
45,014
36,565
81,579
81,579
6 Investment income
Unrestricted
funds
General
Totsl
2024
Interest receivable and similar income;
Interest receiv8ble on bank deposits
77,062
77,062
77.C62
77,062
Unrestrfcted
funds
General
Total
2023
Interest re￿1vable and similar income.
Interest receivable on bank deposits
13,912
13,912
13,912
13,912
Page 23

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
7 Expenditure on rnlslng funds
a) Costs of trading activities
Unrestricted
funds
General
Total
funds
Note
Costs of goods sold
58,814
58.814
Total for 2024
58,814
58,814
Total for 2023
30,864
30,864
Page 24

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
8 Expendlture on charitable activities
Unrestricted funds
Designated
General
Restricted
funds
Totsl
2024
Charitable Activities
Depreciation, amortisation and
other similar costs
Grant funding of activities
Staff costs
Allocated support costs
2,300,756
4,007
2.304,763
253,684
172,417
120,396
758,248
689,265
4,041,082
426.101
120.396
819,580
689,265
61,332
253.684
65,339
4.360,105
un￿strICted funds
Designated
General
Restricted
funds
Total
2023
Charitable Activities
Depreciation, amortisation and
other similar costs.
Grant funding of activities
Staff costs
Allocated support costs
2,164,481
4,472
2,168,953
231.437
174,339
46,331
720,863
680,321
405,776
94,966
737,119
680,321
48,635
16,256
231,437
3,786,335
69,363
4,087,135
9 Other expenditure
Unrestricted
funds
General
Total
funds
Note
Depreciation, amortisation and other similar costs
(5,100)
5,100)
(5.100)
(5,100)
Total for 2024
Page 25

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
10 Analysls of support costs
Charitable activities expenditure
Unrestricted
funds
General
Total
2024
Total
2023
Staff costs
Insurance
Travelling
Office Expenses
Other Support Costs
Professional fees
Auditors remuneration
Legal and Professional fees
Promotion costs
Actmty Administration
Other office expenses
Bank Charges
Gratuities
Communication and IT
Administration
VAT Adjustment
Comrnunity Sundry costs
159,246
110,780
10,947
27.468
12.941
7,115
33,778
12,145
35,432
159.246
110.780
10,947
27,468
12,941
7,115
33,778
12,145
35,432
134,269
90,369
13,404
31,527
108,118
33,067
21,790
92,676
40.830
24.004
2,411
22,558
65,298
2,732
108,031
66,253
107,663
2,914
(13,282)
5,102
689,265
2,732
108,031
66,253
107,663
2,914
(13,282)
5,102
689,265
680.321
11 Net incomingloutgoing resources
Net incoming resources for the year include:
2024
2023
Audit fees
Depreciation of fixed assets
33,778
426,101
32,085
405,776
12 Trustees remuneration and expenses
Trustees Honoraria - £6.000 (2023 - £6,000).
Travel expenditure of £8,916 (2023 - £12,616) was reimbursed to the Trustees.
Page 26

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
13 Stsff costs
The aggregate payroll costs were as follows:
2024
2023
Wages, salaries and community allowances
Social security costs
Pension costs
684,953
54,301
80,326
819,580
623,612
42,175
71,332
737,119
The average number of full-time equivalents during the year, was as follows..
2024
No
67
25
2023
No
63
25
Fellowship
Intemational Students, Club
Movement
Household Communities
96
91
No employee received emoluments of more than £60,000 during the year. {2023.' None)
Page 27

Lee Abbey Movemant
Notss to the Financial Statements for the Year Ended 30 April 2024
14 Taxatlon
The group is a registered charity and is therefore exempt from taxation.
15 Tangible fixed assets
Group
Fumiture
and
equipment
Land and
buildings
Motor
vehicles
Total
Cost
At 1 May 2023
Additions
14,754,356
161,340
3,026,630
145.921
161,153 17,942,139
7,000
314,261
At 30 April 2024
14,915,696
3,172,551
168,153 18,256.400
Depreciation
At 1 May 2023
Charge forthe year
At 30 April 2024
5,303,040
253,684
2,401,118
168.477
139,023 7,843,181
3,941
426,102
5,556,724
2,569,595
142,964 8,269,283
Net book value
At 30 April 2024
9,358.972
602,956
25,189 9.987,117
At 30 April 2023
9,451.316
625,512
22,130 10.098,958
The Freehold Land and Buildings held by the Lee Abbey Fellowship indudes freehold land with a
book value of £165,000.
Freehold Land and Buildings held by Lee Abbey Intemational Students Club are included at their
1989 valuation plus additions to date. The 1989 valuation was made at an open market value based
on a continuing existing use.
The Freehold Land and Buildings held by the Lee Abbey International Students Club includes freehold
land with a book value of £1,300,000.
Depreciation is not charged on freehold land.
The Charty has no fixed assets with a net book value.
16 Stock
Group
2024
Charity
2024
2023
Household, estate and goods ft)r resale
117,991
118,892
Page 28

Lee Abbey Movement
Notss to the Financial Ststements for the Year Ended 30 April 2024
17 Debtors
Group
2024
Charity
2024
2023
2023
Trade debtors
Due from group undertakings
Prepayments
other debtors
39.578
46,030
1,232,157
6,541
1.417,819
48.952
105,977
61,679
695
194,507
108,404
1,238.698
1.417,819
18 Creditors: amounts falllng due within one year
Group
2024
Charity
2024
2023
2023
Bank loans
Trade creditors
Payments on account
other taxation and social
security
Other creditors
Accruals
233,600
211,090
579,263
284,516
153,645
483,363
233,600
284,516
13,340
308,841
69,711
14,478
325,518
90,221
11,750
1,415,845
1,351.741
245,350
299,868
The bank loan is secured by a charge over the freehold properties owned by the Lee Abbey
Intemational Students Club and is repayable over a period ending on30 April 2029.
15,352
The bank loan is over a fifteen year temi and carries an interest rate of 2.18 /D above the base rate. In
additional to the usual monthly payments a further £400,000 was repaid in the year.
The Charity also took advantage of a CBILS loan during the Coronaviru5 pandemic. £400,000 was
borrowed in December 2020. Repayments commenced in December 2021 and the interest rate is set
at 3.260h.
Page 29

Lee Abbey Movement
Notss to the Financial Statements for the Year Ended 30 April 2024
19 Creditors: amounts falling due after one year
Group
2024
Charlty
2024
2023
.2023
Bank loans
950,684
1,486.209
952,577
1,486,209
The bank loan is secured by a charge over the freehold properties owned by the Lee Abbey
Intemational Students Club and is repayable over a period ending on30 April 2029.
The bank loan is over a frfieen year term and Ca￿leS an Inte￿$t rate of 2.180A above the base rate. In
additional to the usual monthly payments a further £400.000 was repaid in the year.
The Charity also took advantage of a CBILS loan during the Coronavirus pandemic. £400,000 Nvas
borrowed in December 2020. Repayments commenced in December 2021 and the Inte￿$t rate is set
at 3.26°h.
Page 30

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 Aprll 2024
20 Funds
Group
Balance at
1May
2023
Balance at
30 April
2024
Incoming Resources
resources
expended
Transfers
Un￿trICted funds
General
General Funds
Fixed assets reserve
(25,353) 5,044.811
2,314,643
(3,927,479)
(172,417
{313,306)
(12,182)
778,673
2,130,044
2.289,290
5,044,811
(4,099,896)
(325,488)
2,908.717
Deslgnated
Designated Propety
Reserve
7,774,101
{253,684}
336,656
7,857,073
Total unrestricted funds
10,063,391
5,044,811
14,353,580
11,168 10,765,790
Restrlcted funds
Estate & Buildings
Inglis fund
Aston Development
Mission & Outreach
Build and FLrture
Community Project
Bursary fund
Provision of Hydro
Electric Power
Special Projects
Camp Friends
Devon Ministries
Hopeswood
Ford Payroll Support
30
(30)
(3,008)
3,008
20,825
14,154
76,252
1,750
882
20,825
26.918
77,152
1,750
12,784
900
51,800
(52,682)
7,229
23.582
33,521
470
(659)
7.040
23,582
38.100
4,649
240
10.000
(70)
{240)
(10,000)
(1,168)
(11,168)
9.818
191,021
(8,650)
(65,339)
80,853
195,367
Total funds
10,254.412
5,125,664
(4,418,919
10,961,157
Page 31

Lee Abbey Movement
Notes to the Financial Ststements for the Year Ended 30 April 2024
Balance at Balance at
Imay
1 May Resources
2022
2022
expended
Balance at
30 April
2023
Transfers
Unrestricted funds
General
General Funds
Fixed assets resetve
(1,700,209) 4,828,825 (3,664,781)
3,315,697
(152,418)
1.615,488
(3,817,199)
510,812
(848,636)
(337,824)
(25,353)
2.314,643
2,289,290
4.828,825
Designated
Designated Propety
Reserve
7,675,860
(231,437)
(4,048,636)
329.678
7,774,101
Total unrestrlcted funds
9,291,348
4.828,825
(8,146> 10,063,391
Restrlcted funds
Estate & Buildings
Knowle West
Maintenance
Inglis fund
Aston Development
Mission & Outreach
Build and Future
Community Project
Bursary fund
Provision of Hydro
Electric Power
Special Projects
Camp Friends
Devon Ministries
Ford Payroll Support
225
(225)
2,000
20
(2,000)
2,988
22,679
3,008
20,825
14,154
76,252
1,750
882
(1,854)
14,259
1,211
(105)
(880)
65,921
1,750
882
10,000
47,755
(47,755)
8.381
23,332
31.485
830
250
2,036
160
(1,982)
7,229
23,582
33,521
(160)
(16,256)
(69,363
26,074
9,818
183.492
68,746
8.146
191.021
Total funds
9,474,840
4,897,571
(4.117,999)
10.254,412
Page 32

Lee Abbey Movement
Notes to tha Financial Statements for the Year Ended 30 April 2024
Charity
Balance at 1
May 2023
Incoming
resources
Resources
Balance at
expended 30 April 2024
Unrestricted funds
General
General Funds
289.423
214,966
(176.193)
328.196
Balance at 1
May 2022
Incoming
resources
Resources
Balance at
expended 30 April 2023
Unrestricted funds
General
General Funds
169,547
304.105
(184,229)
289,423
The specific purposes for which the fvnds are to be applied are as follows:
General funds of the Lee Abbey Movement are donations and other incoming resources receivable or
generated for the objects of the charities without further specific purpsoes and which the charities may
use for their purposes at their discretion.
The bursary funds are designated to assist any student of the Lee Abbey Intemational Students Club
who may be in financial difficulties with paying their fees.
The revaluation fund represents the unrealised surplus on revaluation of the group's freehold land and
buildings. These are depreciated in accordance with the disclosed accounting policies.
The fixed assets reserve finanaces those fixed assets of the group funded other than by restricted
donations.
Where restricted funds re received for capital expenditure and the expenditure has been fully met and
funds used, the restriction is deemed to be lifted and the asset value is transferred to. and regarded
as unrestricted, within the designated tangible r￿ed asset fund from thence forward.
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Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
The Estate & Buildings fund provides support for the Lee Abbey environment, house and estate.
Knowle West Maintenance this is money donated for repairs and maintenance costs at Knowle
West.
The Inglis fund provides breaks for bereaved families.
The Aston Development fund is a fund to pay for the redevelopment of the Aston buildings.
Mission and Outreach these are amounts giving to assist the charty further with its mission and
outreach work.
Build the Future - these are donations received to be utilised on future improvement to the building.
Community Project - these donations were giving ft)r the communty accommodation development.
Plymouth Diocese - this grant was giving to support the wages costs of a staff member in Plymouth.
Bursary Fund - these are amounts donated to support students with the costs of staying at the charity.
The Provision of Hydro Electric Power fund is a donation towards future development of Hydro
Etectricity for Lee Abbey Fellowship at Lynton.
Camp Friends are donations received from Camp Friends.
The Devon ministries fund provides support for Le8 Abbey mission, ministry and community.
Page 34

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
21 Analysis of net assets between funds
Group
Unrestricted
funds
General
Total funds
at 30 April
2024
Restrlcted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
9,987,117
3,145,557
(414,188)
(1,952,341)
9,987,117
3,340,924
(414,188)
(1,952.341)
10,961,512
195,367
Total net assets
10.766,145
195,367
Unrestrictsd
funds
General
Total funds
at 30 April
2023
Restricted
funds
Tangible fixed ass8ts
Current assets
Current liabilities
Creditors over 1 year
10,098,958
2,802.383
(1,351,741)
(1,486,209)
10,063,391
10.098,958
2.993,404
(1.351,741)
(1,486,209)
10,254,412
191,021
Total net assets
191,021
Page 35

Lee Abbey Movement
Notes to the Financial Statements for the Year Ended 30 April 2024
Charlty
Unrestricted
funds
General
Total funds
at 30 April
2024
Current assets
Current liabilities
Creditors over 1 year
Total net assets
1,526,123
(245,350)
(952,577)
1.526,123
(245.350)
{952,577)
328,196
328.196
Unrestricted
funds
General
Total funds
at 30 April
2023
Current assets
Current liabilities
Creditors over 1 year
Totsl net assets
2,075.500
(299,868)
(1,486,209)
289,423
2.075,500
(299,868)
(1.486,209)
289,423
22 Parent and ultlmate parent undertaking
The Lee Abbey Movement is a company limited by guarantee and accordingly does not have a share
capital.
Every member of the company undertakes to contribute such amount as may be required not
exceeding £10 to the assets of the charitable company in the event of its being wound up while he or
she is a member, or within one year after he or she ceases to be a member.
Page 36