Charfty régistration number 1108136
Company reglstration number 53338181England and Wales)
ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
A L Campbell
M R Murray
M Camey
S A Reynolds
T J Ilthyatt
Secretary
E Hayward
Charlty number
1108136
Company number
5333818
Prlnclpal addre••
Our Lady and St Michae15 Church
Pen y Pound
Abergavènny
Monmouthshire
NP7 SUD
Roglsternd afflce
Belmont Abbey
Hereford
Herefordshire
HR2 9RZ
Bankern
HSBC Bank plc
2 Twyn Square
Usk
Monmouthshire
NP15 1BH

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
CONTENTS
Page
Trustees report
Independent examinels report
Statemènt of financial activitres
Balance sheet
Note8 to the flnancial statement4
8-12

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT>
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financlal statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts
and comply with the Irusl's Memorandum and Artides, the Companies Act 2006 and °Accounling 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)° {as amended for
accounting periods commencing from 1 January 2016).
Oblactlves and acllvltles
The objects of the charity are to provide a Community Centre for the benefit of the inhabitants of
Abergavenny and district.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activitie8 the
tru8t should undertake.
Achlevements and parforniance
The year April 2023 to March 2024 Saw a welcome uptum in bookings to a level not seèn slnce well before
COVID. Monmouthshire County Council booked the training room for Police and Crime Commissioner
elections, and have used the main hall after the period in consideration. The Centre is used for many
social, fitness, well being, counselling, sUPPOrt. cultural and leisure activlties by the local community and
organisalion5 from further afield Bs well as providing space for businesses providing service8 to the local
community.
Apart from cleaning and calering, the Centre is operated entirely by volunteers. Numbers have been
sustained at 13, 0 subslanlial increase on prevlous numbers, increasing business by enabling a swift and
courteous response to enquiries. New volunteers are of course always welcome. Training is available and
undertaken. Thanks are due to all those who work for the Centre as officer8 or volunteers, who make It
possible for rt to function. Particular thanks are due to Anty Palmer for managing the Centre and the
volunteers, and to Tom Whyatt for keeping accounts and rnuch else. It is with great sadne66 that we
announce the untimely death ol Sheila Woodhouse who was a great supporter of the Cent￿ and
volunteered with us for over 10 years
A vehicle driving into the Centre entrance at the end of the financial year caused significant damage and
some disruption, but fortunatety the cost has been met by insurance.
Consideration is belng given to improving audiolvisual facllities, bul Ihi5 work will probabty need 50me
grant assistance.
The Centre also provides the venue for pastoral and social activities of the Roman Catholic parish of our
Our Lady and St Michaels, which adjoins the Centre and was one of its original funders. It is though a
legalty separate
and independent organization. The parish substantially increased its donation to the
Centre for its extensive use of the Centre from May 2023
Flnanclal review
Duririg the year up to the end of March 2024, overall trading income from lettings of the hall. kitchen.
training room and offices has increased substantially, both from increased bookings and an increase in
charging Tates Income from hire of the training room remains low however. Donations increased
substantialFy. largely due to the increase in Tegular payments from the adjoining parish. Despite much
more expensive electricity. overall expenditure increased onty slightly. resulting in a major lumaround in
trading profit from substsntial deficit to surplus, resulting in increased unrestricted ￿se￿Ie￿. These meet
the declared objective of being able to meet average expenditure for six months without any income.
Debtors have increased but remain at a similar percentsge of trading income. 2024-25 is likely to bring
much increased expenditure on maintenance, but we expect to stay in profit.

ST. MICHAEL'S CENTRE (ABERGAVENNY> TRUST LIMITED
TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees have a rlsk management policy and revise annually the risks faced by the charity and the
establishment of systems and procedures lo reduce such rrsks and lessen Ihe impact of any problems which may
arise. There is a safeguarding policy and an experienced safeguarding officer is in place, but the Cenlre does
not work particularly with vulnerable individuals or children, and the primary responsibility vthere events induding
such individuals meet at the Cenlre lies with the organisation hiring the Centre and responslble for the event.
Structure. governance and management
St Michael's Centre (Abergavenny) Trust Limited is a company Ilmited by guarantee governed by Its
Memorandum and Articles ofAssocialion dated 17 January 2005. It is a registered charity with the Charity
Commisslon.
The trustee8, who a￿ also the dlrectors for the purpose ofcompany law, and who Served during the year and up
to the dale of signature of the financial statements were:
A L Campbell
M R Murray
M Carney
S A Reynolds
T J Whyatt
The TnJ8tee8 must be al least three and no more than ten in number, and rnay co-opt any person to act as
trustee. The Abbot of Belmont Abbey must approve the appointment of every trustee in writing.
The Board of Trustees are legally responsible for the administration of the Charity, and meet as necessary, and
81 least once every year for the AGM.
Day lo day management of the Centre is undertaken by individua15 and groups of volunteers supporting on
bookings, office, administration, sales invoiung, book-keeping and general repairs, with professional caretaking
and cleaning. Andy Palmer has taken on the role of centre manager after the year under review, when Tom
Imiyatt ran ihe centre as well as keeping the accounts. Other officers of the charity are Edmund Hayward
(Company Secretary), Tom Whyatl (Treasurer), Jimmy Harris (Maintenance officer) and Janel Batlersby
(Safeguarding Officer). The trustees extend their grateful thanks lo all volunteers and officers for their continuing
hard work and dedication.
The Centre has a close relationship with Belmont Abbey, whose Abbot ultlmatety controls the
appolntment of directors and trustees, and the Belmont Abbey Charitable Incorporated Organisalion
(previously the Belmont Abbey Mission Trust) from whith the land on which the Centre is built is leased
at 8 peppeTcom annual Tent on a long lease.
There are no other related parties.
The tTUStees report was approved by the Board of Trustees.
A L Campbell
Truslee
Dated.. 1 December 2024

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
I report on the accounts of the trust for the year ended 31 March 2024. whlch are set out on pages 4 to 12.
Respectlvo respon•lbllltles of trustees and examlner
The tTU5t's Iruslees. who are also the directors of St. Michael's Centre (Abergavennyl Trust Limited for the
purposes of company law, are responsible for the preparation of the financial statements. The trustees consider
that an audit is not required for this year under section 144(21 of the Charities Act 2011 (the 2011 Act) and that an
independent examination is needed.
Having satisfied myself that the charlty is not subject to audit under company law and is eligible for independent
examination, it is my responsibility to..
examine the financial statements under section 145 of the 2011 Act;
(ill to follow the procedures laid down in the general Directions given by the Charity Commission under section
145(51(bl of the 2011 Act., and
(iii) lo state whether particular matters have come to my attention.
8881* of Independent •xamlneVs report
My examination wa$ carried out in accordance with the general Directions glven by the Charfty Commission. An
examlnalion includes a review of the accounting records kept by the charity and a comparison of the flnancial
statements presented with those records. 11 also includes consideration of any unusual items or disclosures in the
financial statements, and seeking explanations from you as trustee5 concerning any such mallers. The
procedures undertaken do not provide all the evidence that would be required in an audit and consequently no
opinion is given as to whether the financial statements present a 'lrue and fair view and the report is limited to
those matters sel out in the next slalement.
Independent examlnerfa Statement
In conneclion with my examination, no matter has come to rny attention:
(a) which gives me reasonable cause to believe that in any material respect the requirement8:
111 lo keep accounting records in 8ccordance with section 386 01 the Companies Act 2006., and
(li) to prepare financial statements which accord with the accounting records, comply with the accounting
requirements of section 396 of the Companies Act 2006 and with the methods and principle8 of the
Statement of Recommended Practice: Accounting and Reporting by Charities"
have not been met or
(b) lo which, in my opinion, attention should be drawn In order to enable a proper understanding of the
financi815tatements to be reached.
PELea
Chartered accountant
Dated: 1 December 2024

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unre8trlcted Restrlcted
lunds
funds
Tolal
2024
Total
2023
Notss
Income from:
Donalions and legacies
Charitable activities
Investments
6,232
25,515
122
6,232
25,515
122
1.890
15,429
28
Total Incomo
31,869
31,869
17,347
endlture on:
Charitable activities
24,292
11,025
35,317
38,735
Not Incom￿1•xPendltur8) for the yaarl
Nét movement In funds
7,577
(11 ,0251
13,448)
(21,388)
Fund balances at 1 Aprll 2023
15,346
375,834
391,180
412,568
Fund b•lance6 at 31 March 2024
22,923
364,809
387,732
391,180
The statement of financial activities also complies with the requirements for an income and expendrture account
under the Companies Act 2006.

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
BALANCE SHEET
ASAT31 MARCH 2024
2024
2023
Notes
Flxed apAet8
Tangible as5et5
12
364,809
375,834
Currnnt assets
Debtors
Cash at bank and in hand
13
8,063
31,255
4,891
26,073
39,318
30,764
Credltor•: amounts falllng due wllhln
one yMr
15
(14,7931
(12,9001
Net current as8Ot•
24,525
17,884
Tot•1 *••ets less current Ilabllltles
389,334
393,698
Crndltor•: amounts lalllng due after
more than on8 year
16
(1,6021
12,5181
Net a••ets
387,732
391.180
The fund8 of the trust
Restricted income fund5
Un￿StrICted funds
17
18
364,809
22,923
375,834
15,348
387,732
391,180
The company Is entitled lo the exemption from the audlt requirement contained in section 477 of the Companies Act
2008, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statement5.
The membeT5 have not required the company to obtain an audit of its financial statements for the year in question in
accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the trustees on 1 December 2024
A L Campbell
Trustse
Company registration number 5333818 (England and Wales)

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
Company info￿atIon
st. Michael's Centre (Abergavennyl Trust Limited 15 a private company limited by guarantee incorporated in
England and Wales. The registered office is BelmontAbbey, Hereford, Herefordshire, HR2 9RZ.
The accounts have been prepared in accordance with the trusvs Memorandum and Articles, the Companies
Acl 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 1021" (as amended for accounts'ng periods commencing from 1 January 2016).
The trust is a Public Benefit Entily as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1
not to prepare 8 Statement of Cash Flows.
The accounts have been prePa￿d on the historical cost convention.
1.1 Golng concern
At the time of approvlng the financlal 8tatements, the trustees have a reasonable expeclatSon that the trust
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparlng the finan¢lal statements.
1.2 Charltable fundi
Unrestricted funds are available for use at the discretion of the Iruslees in furtherance of their charitable
objecllves.
Restricted funds are subject10 specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the reslrlcted fund5 are set out in the notes to the financial statements.
1.3 Incomlng resourc••
Income Is recognised when the trusl is legalty entitled to it after any performance condltions have bean met,
the amounts can be measured reliably, and It Is probable that Incorne will be rècelved.
Ca8h donations are recognised on receipt. Other donations are recognised once the trust has been notified of
the donation, unless performance conditions require deferral of the amount. Income lax recoverable in
relation to donations received under Gift Aid or deeds of covenant 15 recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt to
thlrd party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured rellably.
Expenditure is classified by activity. The costs of each actlvlty are made up of the total of d1￿ct costs and
shared costs, including support C0515 involved in undert8king each activity. Direct costs attributable to a single
activity are allocated directly to that actlvlty. Shared costs which contribute lo more than one acllvity and
support costs which are not attributable lo a single activity are apportioned between those activities on a basis
consistent wilh the use of resources. Central staff costs are allocated on ltte basls of time spent, and
depreciation charges are allocated on the portion of the asset'5 Use.

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollclos
Icontlnued)
1.4 Tanglble flxed a88•ts
Tangible fixed assets are initialty measured at cost.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives
on the following base$'.
Leasehold propety
Fixtures, fittings & equipment
2% Straight line
Various rates between 7 112 and 339/0
1.5 Cash and cash equlvalents
Cash and cash equivalents include cash in hand and deposit5 Wlth banks.
1.6 Flnanclal Instruments
The trust has only financial assets and Ilabiliiies of a kind thal qualify as basic financial instruments.
Crltlcal accountlng e8tlmates and Judgements
In the application of the trust's accounting policies, the tTUStees are required to make judgements, estimates
and assumptions about the carying amount of assets and liabilities that are not ￿adIlY apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results rnoy differ from these estimates.
The estimates and undertying assumptlon5 are reviewed on an ongoing basis. Revisions to accounting
estimate8 are recognised in the period in which the estimate is revised where the revision affects only that
period. OT in the period of the revision and future periods where the revision affects both CUT￿nI and future
periods.
Oonatlons
2024
2023
Donations and gifts
6,232
1,890
Incomo from Charltable Actlvltlos
2024
2023
Letting and licensing arrangements
25,515
15,429

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Investment Incom•
2024
2023
Interest receivable
122
28
Expendlture on Charltabl• A￿1VItIeS
2024
2023
Depreciation and impalrrnent
Insurance
Telephone
Rates
Other costs
Heat. light and power
Maintenance
Sundry expenses
Bad debts
Telephone
11,025
1,432
912
815
6,507
7,916
1,539
3,934
249
148
11,025
1,357
1,264
871
6,489
6,170
296
10,267
304
92
34,477
38,135
Share ol govern8nce c08ts (see note n
840
600
35,317
38,735
Analy818 of Govemance and •upport CO8t•
Support Gov•rnanea
co•t•
Costs
2024
2023 8••l• of allocallon
Accountancy
840
600 Governance
840
840
600
AnaFysed between
Charitable activities
840
840
600
Net movemenl In funds
2024
2023
The net movement in funds is ststed after chargingl(crediting):
Depreciation of owned tangible fixed assets
11,025
11,025

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Tru8tÈe8
None of the trustees (or any persons connected viith them) received any remuneration during the year, nor
were they reimbursed trevelling expenses.
10 Employees
There were no employees durfng the year.
11 Taxatlon
The charity Is 8xempt from taxation on its actlvltles because all ils income 1$ applied for charitable purposes.
12 Tanglble Ilxad a••et•
L•u•hold
pmprty
F4xtur••.
•qulpm?nt
Cost
At 1 April 2023
551,209
93,518
644,725
At 31 March 2024
551,209
93,516
644,725
Depreclatlon and Impalmient
At 1 Apnl 2023
Depreciation charged in the year
175,375
11,025
93,516
268,891
11,025
At 31 March 2024
186,400
93,516
279,916
Carrylng amount
At 31 March 2024
364,809
364,809
At 31 March 2023
375,834
375,834
13 Debtorn
2024
2023
Amounts falllng du• wlthln one year:
Trade debtor5
Prepayments and accrued income
7,008
1,055
4,488
203
8,063
4,691

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14 Loan$ and overdrafts
2024
2023
Bank loans
2,667
3,583
Payable withln one year
1,065
1,065
Tha loan Is the Bounce Back loan Ih81 was received due to the Covid-19 pandemlc.
15 Credltorn: amounts lalllng due wlthln on• ye•r
2024
2023
Notes
Bank loans
Other creditors
Accruals and deferred income
14
1,065
8,000
5,728
1,065
8,000
3,835
14,793
12,900
16 Credltors: arnount• falllng due after more than one year
2024
2023
Not••
Bank loan
14
1,602
2.51B
17 Restrlcted funda
The reslricled funds of the tharity comprise the unexpended balances of donatlons and granls held on tTU8t
subject to specific conditions by donors as to how they may be used.
At 1 Aprll Resources At 31 March
2023
oxpended
2024
Building and equiprnent costs
Building and equipment costs
National Lottery Community Fund
359,644
11,025
5,165
(11.025)
348,619
11,025
5,165
375,834
111,0251
364,809
10-

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17 Restrfcted funds
IContlnued>
Prevlous year:
At 1 Aprll
2022
Resources At 31 Mareh
expended
2023
Building and equipment cost8
National Lottery Communlty Fund
386,859
5,165
(11,0251
{5,165)
375,834
392,024
16,190
375,834
The restricted fund relates to money reGeived in relation to the conslruction of th8 buildlng and its equipplng
and to a grant received for the Volunteering In Wales Fund.
18 Unrestrlcted fund6
The unre51ricted funds of the charity comprise the unexpended balances of donations and grants whlch are
not subject to specific conditions by donors and grantors as to how they rnay be used. These include
designated fvnds which have been set aside out of unrestricted funds by the trustees for specific pU￿08e5.
At 1 Aprll
2023
Incomlng
re8ource8
Reiource• At 31 March
expended
2024
General funds
15,346
31,869
(24,292)
22,923
Pr•vSou8 year:
At 1 Aprll
2022
Incomlng
resou￿8•
Re8ource8 At 31 March
expended
2023
General funds
20,544
17,347
122,5451
15,346
19 Anaty818 of not a•set• betw¢•n funds
Unrestrlcled
fund•
2024
Restricted
lund•
2024
Total
2024
At 31 March 2024:
Tangible a55ets
Current assetsl(liabilities)
Long term liabilities
364.809
364.809
24,525
(1,e02)
24,525
(1,602)
22,923
364,809
387,732
11

ST. MICHAEL'S CENTRE (ABERGAVENNY) TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Analy•l• of net assets between funds
Icontlnued)
Unrejjtrlcted
funds
2023
Restrlcted
funds
2023
Total
2023
At 31 March 2023:
Tanglble assets
Current assetsl(liabilities)
Long temi liabilities
375,834
375,834
17,864
(2,518)
17,864
(2,518)
15,346
375,834
391,180
12-