THE
WESTMINSTER ABBEY
TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2024
Charlty number: 1116371

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
For the year ended 30 September 2024
Contents
Page(s)
Trustees, advisers and governing documents
Report of the trustees
Independent Auditors, report to the trustees
Statement of Financial Activities
10
Balance Sheet
Statement of Cash Flows
12
Notes to the financial statements
13-20

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
TRUSTEES, ADVISERS AND GOVERNING DOCUMENTS
For the year ended 30 September 2024
Trustees
Mr John O'Brien (Chairman)
Dr Julian Litten (to 19 October 2024)
The Very Reverend David Hoyle KCVO MBE
The Reverend Canon David Stanton
Senior Management
Personnel
Ms Valerie Humphrey
(Director of Westminster Abbey Trust, on secondment from
Westminster Abbey Enterprises Limited)
Contact name
Mr Christopher Vyse
Governlng document
Charitable Settlement dated 16 June 2006
Status
Charitable Trust
Registered charity number
1116371
Prlnclpal office
The Chapter Office
20 Dean's Yard
Westminster Abbey
London SW1P 3PA
Auditor
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Bankers
Barclays Bank plc
1 Churchill Place
Canary Wharf
London E14 5HP
Campaign Development
Board
Sir Will Adderley
Mrs Catherine Armitage
Lady Sarah Chatto
Mr Ronald Freeman
Lord Harris
Mr John O'Brien
Lord Salisbury
Sir Guy Weston
Page 1

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 September 2024
The Trustees take pleasure in presenting their report together with the financial statements
for the year ended 30 September 2024.
The legal and administrative information set out on page 1 forms part of this report.
Trustees, advisers and governing documents
The Westminster Abbey Trust (the Trust) is an unincorporated trust registered with the
Charities Commission and was created by Charitable Settlement on 16 June 2006. It was
set up to raise funds to support its declared objectives, which include grant giving.
Under the terms of the settlement the Trustee body consists of two nominated trustees and
three co-opted trustees. The power of appointing new co-opted Trustees lies with the Dean
and Chapter of The Collegiate Church of Saint Peter in Westminster (the Abbey).
Trustees are given informal training as part of their induction to the charity. This training
involves explaining the Trustees, responsibilities, as noted on page 6 to the financial
statements, and explaining to them the role they are expected to take and the involvement in
the charity that this entails.
Objects and activities of the Charity
The main objectives of the Trust are..
To further the religious and other charitable purposes of Westminster Abbey
To support the Abbey's Choir School
The Trustees confirm that they have referred to the guidance contained in the Charity
Commission's general guidance on public benefit when reviewing the Trust's objectives and
in planning future activities and setting the grant making policy. The policy for grants states
that expenses should be pertaining to fabric, upkeep and the Education Centre.
A cornerstone of Westminster Abbey's mission is "to serve pilgrims and all other visitors and
to maintain a tradition of hospitality" In the year to September 2024 the Abbey over 1.4
million worshippers and visitors.
The Trustees believe that in accordance with the Trust's objects, financially assisting the
Abbey, together with its Choir School, contributes to the advancement of religion whatever
the circumstances.
The principal sources of income for the Trust are donations for specific areas of funding set
to assist in furthering the religious and other charitable purposes of Westminster Abbey. The
operating costs of the Trust are met from unrestricted donations received in year.
Page 2

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 September 2024
Alms and strategies for achieving objectives
The Trust aims to support the Abbey in line with its objectives. It considers requests for
funding by the Abbey to support religious, structural and educational purposes.
The Trust seeks to raise specific money for projects it agrees to fund in support of The
Abbey and the Choir School with particular reference for funding to support music, fabric,
conservationlcuratorial, and education related purposes. These aims are supported by the
established Campaign Development Board (see page 1), which is the primary external
vehicle to help raise funds for the Abbey's current needs.
Fundraising
The Westminster Abbey Trust aims to undertake fundraising at the highest possible
standards, consistent with its values, and compliant with the requirements of the Fundraising
Regulator. Care and consideration for donors is paramount, and the Trust aims to act in the
most respectful and considerate way. The majority of income comes from major donors and
charitable trustsl foundations, with a modest amount coming from on-line and text donations,
The Trust does not use unsolicited telephone or street fundraising.
The Trust's Director is a skilled fundraiser. The Trust is supported by a volunteer 'Campaign
Development Board,, which assists in fundraising for major capital projects. No volunteer
donor approaches are made without the consent and support of the Director, thereby
avoiding inappropriate approaches being made.
The Westminster Abbey Trust received no complaints about fundraising carried out in this
financial year.
The Westminster Abbey Trust recognises the need to protect vulnerable people and works to
avoid seeking or gaining a donation from anyone who might be considered vulnerabl.e or
unable to make an informed decision.
Grant making
During the year, grants totalling £Nil (2023.. £355,145) were paid to Westminster Abbey.
Financial review and achievements of the year
The total resources of the Trust amounted to £3,212,115 as at 30 September 2024 (2023..
£1,023,044). Total income amounted to £2,197,150 {2023: £461,622). The main activity in
the year has been to secure donations, grants and pledges to support the Great SaGristy
project, in advance of construction starting.
£920,701 of funding was secured for the Great Sacristy project.
A final instalment of £117,582 was received via the American Fund for Westminster
Abbey to enable the Trust to provide long term support to the Abbey in meeting the
costs of the organ scholar. With all funds now received the fund has been converted to
an endowment.
Page 3

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 September 2024
Plans for future periods
During the course of 2024-25 the Trust will continue to raise funds for targeted projects and
areas which the Abbey has identified, primarily focused on the Great Sacristy project, but
also continuing to target music, conservationlcuratorial and education.
Governance and management
The .Trustees have ultimate legal responsibility for the charity and work to ensure good
governance, with the help of its advisers. They agree the overall strategic direction of the
organisation, and are the highest decision-making body.
The Director supports the Trustees and is responsible for the implementation of policy and
for the management of the day-to-day running of the organisation, with the support of
Westminster Abbey staff, in particular the Receiver General and Director of Finance.
Key management personnel remuneration
The trustees consider the Director of Westminster Abbey Trust as the key management
person for the charity, in charge of directing and controlling the charity and running and
operating the charity on a day to day basis.
The Director of Westminster Abbey Trust is an employee of WAEL seconded to the Trust.
Remuneration of WAEL employees, including any annual increases, is approved by the
WAEL board. The initial level of remuneration paid to the Director of the Trust was
established through a benchmarking exercise.
Reserves policy and investment policy
The Trustees aim to distribute the net income of the Trust to support the Trust's charitable
objectives, keeping only such free reserves as are necessary to maintain working capital,
The Trust has low overhead and operating costs, which are typically below £1 Ok per year.
These costs are ordinarily able to be funded from unrestricted donations received in year.
So far as possible the Trust seeks to maintain its unrestricted reserves in the range £40k to
£50k. Reserves are split unrestricted £1,099,742 (2023.. £49,553), restricted £1,553,504
(2023: £973,491), and endowments £558,869 (2023: £Nil). The bulk of the unrestricted
reserves will be contributed to the Great Sacristy project in 2025 once construction has
started.
For the year to 30 September 2024, a policy for longer term investment of the Endowment
was agreed.
Risk management
The Trustees have assessed the significant risks to which the Trust is exposed, and are
satisfied that these can be mitigated. The Trustees consider lack of variability of donations
received to constitute the charity's main financial risk.
The main sources of income are trusts and major donors. The Trust works hard to rnitigate
this risk by maintaining relationships with existing donors during and beyond a project's
completion, and continuing to identify and develop relationships with potential new donors
who are interested in the Abbey and its ongoing need for funding to support major projects.
Through the relationships with donors and networking in conjunction with the Campaign
Page 4

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 September 2024
Development Board, the Trust is transparent about funding needs and specific initiatives for
which funding is being sought.
Trustees, going concern assessment
The Trustees consider the Trust to be a going concern, as it continues to have positive fund
balances and has been able to maintain ongoing operations during recent years, despite
difficult circumstances.
Underlying administrative costs were £8k in the year, which provides the Trustees with
confidence that the Trust has suff icient financial cover throughout the period considered to
March 2026, being at least another 12 months from the date of signing. Westminster Abbey
Enterprises Ltd continues to gift employee time, and there is no reason to consider that the
Trust will not be a going concern in the coming year.
Disclosure of information to the auditors
In the case of each person who was a trustee at the time this report was approved..
so far as that trustee was aware there was no relevant available information of which the
auditors were unaware., and
that trustee had taken all steps that the trustee ought to have taken as a trustee to make
himself or herself aware of any relevant audit information and to establish that the
auditors were aware of that information.
Page 5

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 September 2024
Statement of Trustees, responsibilities
The Trustees are responsible for preparing the Report of the Trustees 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 to the UK and Republic of Ireland.
The law applicable to charities in England and Wales requires the trustees to prepare
financial statements for each financial year which give a true and fair view of the state of
affairs of the charity and of the incoming resources and application of resources of the
charity for that period. In preparing these financial statements, the trustees are required to..
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP.,
make judgment8 and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basi8 unless it is inappropriate
to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and enable them to
ensure that the financial statements comply with the Charities Act 2011, the Charities
(Accounts and Reports) Regulations 2008 and the provisions of the charitable settlement.
They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees and signed on their behalf..
John O, Brien
Trustee (Chairman)
25 February 2025
Page 6

Independent Auditor's Report to the Trustees of The Westminster Abbey Trust
Opinion
We have audited the financial statements of The Westminster Abbey Trust for the year ended 30
September 2024 which comprise the Statement of Financial Activities, Balance Sheet, Statement of
Cash Flows and notes to the financial statements, including significant accou nting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting
Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted
Accounting Practice).
I n our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 30 September 2024 and of 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 Charities Act 2011.
Basls for oplnion
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's
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the U K, including the FRC'S Ethical Standard, and we have fu Ifilled 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 golng concern
In auditing the financial statements, we have concluded that the trustee's use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's ability
to continue as a going concern for a period of at least twelve months from when the financial
statements are 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 contained within the annual report. 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 st8tements does not cover
the other information and, except to the extent othemise explicitly stated in our report, we do not
express any form of assurance conclusion thereon.
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
aud it or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. 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.
Page 7

Independent Auditor's Report to the Trustees of The Westminster Abbey Trust
Matters on which we are requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities
(Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion..
the information given In the financial statements is inconsistent in any material respect with the
trustees, report., or
sufficient and proper accounting records have not been kept by the charity., or
the financial statements are not in agreement with the accounting records and returns., or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on page 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's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011, and report in
accordance with the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtsin reasonable assurance about whether the financial ststements 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 materi81 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 expeGted to influence the economic decisions of users
taken on the basis of these financial statements.
Detsils of the extent to which the audit was considered capable of detecting irregularities, including
fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibilities. This description
forms part of our auditor's report.
Extent to which the audit was consldered capable of detecting Irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
identified and assessed the risks of material misstatement of the financial statement5 from
irregularities, whether due to fraud or error, and discussed these between our audit team members.
We then designed and perfonned audit proGedures responsive to those risks, including obtaining
audit evidence sufficient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charity
operates, focusing on those laws and regulations that have a direct effect on the determination of
material amounts and disclosures in the financial statements. The laws and regulations we
considered in this context were the Charities Act 2011 together with the Charities SORP IFRS102}
2019. We assessed the required compliance with these laws and regulations as part of our audit
procedures on the related financial statement items.
Page 8

Independent Auditor's Report to the Trustees of The Westminster Abbey Trust
In addition, we considered provisions of other laws and regulations that do not have a direct effect on
the financial statements but compliance with which might be fundatllental to the charity's ability to
operate or to avoid a material penalty We also considered the opportunities and incentives that may
exist within the charity for fraud. The laws and regulations we considered in this context for the UK
operations were the Charity Commission regulations.
Auditing standards limit the required audit procedures to identify nonwcompliance with these laws and
regulations to enquiry of the Trustees and other managemeiit and inspection of regulatory and legal
correspondence, if any.
We identified the greatest risk of material impact on the non-statutory financial statements from
irregu larities, including fraud, to be within the timing of recognition of legacy and grant income, and
the override of controls by management. Our audit procedures to respond to these risks included
enquiries of management and the trustees about their own identifioation and assessment of the risks
of irregularities, sample tesling on the posting of journals, reviewing accounting estimates for biases,
reviewing regulatory correspondence, and reading minutes of meetings of those charged with
governance.
Regarding the timing of recognition of legacy income, we addressed this through review of all legacy
orrespondence and receipts up to the date of approval of the financial statements, to ensure
treatment in line with the accounting policy.
Regarding the timing of recognition of grant income, we addressed this through review of all material
grant agreements to ensure correct treatment under the Charities SORP, including consideration of
the accounting period in which income should be recognised.
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 ststements, even though we liave properly
planned and performed our audit in accordance with auditing standards. For example, the further
removed non-compliance with laws and regulations (irregularities) is from the events and
transactions reflected in Ihe f inancial statements, the less likely the inherently limited procedures
required by auditing standards would identify it. In additlon, as with any audit, there remained 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.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we
might state to the 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 charity and the charity's trustees as a body, for our audit work,
for this report, or for the opinions we have formed.
Crowe U.K. LLP
statutory Auditor
London
Date". 5 March 2025
Crowe U.K. LLP is eligible for appointment as auditor of the chaTity by virtue of its eligibility for appointment as auditor of a
company under section 1212 of the Companie5 Act 2006.
Page 9

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 30 September 2024
Unrestricted Restricted Endowments
Funds
funds
Total
2024
Total
2023
Notes
Income from:
Donations
Tour income
Interest on cash deposits
Total income
1,035,522
9,000
13,746
1,058,268
1,138,882
2,174,404
9,000
13,746
2,197,150
450,784
2,620
8,218
461,622
1,138,882
Expenditure on:
Raising funds:
Administrative expenses
Bank charges and interest
Charitable activities:
Grants to The Dean &
Chapter of Westminster
Total expenditure
7,896
183
7,896
183
5,941
81
355,145
8,079
8,079
361,167
Net income l (expenditure)
1,050,189
1,138,882
2,189,071
100,455
Transfers between funds
Net movement in funds
(558,869}
580,013
558,869
558,869
1,050,189
2,189,071
100,465
Reconciliation of funds:
Total funds brought forward
30 September 2023
49,553
973,491
1,023,044
922,589
Total funds carried forward
30 September 2024
1,099,742
1,553,504
558,869 3,212,115
1,023,044
All recognised gains and losses in both years have been included in the Statement of Financial
Activities. The results for the years as set out above have been derived entirely from continuing
operations.
Page 10

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
BALANCE SHEET
As at 30 September 2024
Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
Endowments
Notes
Current assets
Debtors
470,000
460
470,460
165
Cash at bank and in
hand
640,536
1,553,044
558,869 2,752,449
1,028,008
Net current assets
1,110,536
1,553,504
558,869 3,222,909
1,028,173
Creditors.. Amounts
falling due within one
year
Net assets
10,794
10,794
5,129
1,099,742
1,553,504
558,869 3,212,115
1,023,044
The funds of the
charity
Unrestricted funds
Restricted funds
Endowments
1,099,742
1,009,742
1,553,504
558,869
558,869
558,869 3,212.115
49,553
973,491
1,553,504
Total funds
10
1,099,742
1,553,504
1,023,044
The financial statements and notes on pages 10 to 20 were approved by the Trustees and
authorised for issue and signed on their behalf..
ILbL
John O, Brien
Trustee (Chairman)
25 February 2025
Page11

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
STATEMENT OF CASH FLOWS
For the year ended 30 September 2024
2024
2023
Reconciliation of net movement in funds to net
cash flow from operating activities
Net movement in funds
Deduct interest income shown in investing activities
(Increase) l Decrease in debtors
(Decrease) I Increase in creditors
Net cash provided by operating activities
2,189,071
113,7461
(470,295)
5,665
100,455
(8,2181
1121)
(38,591)
53,525
1,710,695
Cash flows from investing activities."
Interest and dividends
13,746
13,746
8,218
8,218
Net cash provided by investing activities
Change in cash and cash equivalents in the year
1,724,441
61,743
Cash and cash equivalents brought forward
1,028,008
966,265
Cash and cash equivalents carried forward
2,752,449
1,028,008
Page 12

THE WESTMINSTER ABBEY TRUST
Charity No. l 116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
Accounting policies
Basis of preparation and assessment of Going Concern
Westminster Abbey Trust is an unincorporated trust registered with the Charities
Commission and created by a Charitable Settlement dated 16 June 2006. The registered
office is.. The Chapter Office, 20 Dean's Yard, Westminster, London SW1 P 3PA.
The financial statements have been prepared under the historical cost convention and in
accordance with the Statement of Recommended Practice.. Accounting and Reporting by
Charities preparing their accounts in accordance with Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) issued on 16 July 2014, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
(FRS 102), the Trust Deed and the Charities Act 2011.
These accounts (financial statements) have been prepared to give a 'true and fair, view
and have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the extent required to provide a 'true and fair view,. This departure has involved following
Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporling Standard applicable in the UK and Republic of Ireland (FRS 102}
issued on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement
of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the
Trust.
The Trust constitutes a public benefit entity as defined by FRS 102.
The Trustees have considered the resources of and forecasts for the Trust and have
reasonable expectation that it has adequate resources to continue in operational
existence of the foreseeable future. The Trust therefore continues to adopt the going
concern basis in preparing its consolidated financial statements,
b) Income
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 income receivable can be measured
reliably, unless it relates to a specific future period, in which case it is deferred
Donations are recognised on a receivable basis, except in the case of donations from
Westminster Abbey Enterprises Limited, which are recognised on a commitment basis.
Grants
Where entitlement to grants receivable is dependent upon fulfilment of conditions within
the charity's control, the incoming resources are recognised when there is sufficient
eviden￿ that conditions will be met. Where there is uncertainty as to whether the
charity can meet such conditions, the incoming resource is deferred.
Page13

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
d)
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive
obligation committing the charity to that expenditure, it is probable that settlement will be
required and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under
headings that aggregate all costs relating to the Gategory. Where costs cannot be directly
attributed to particular headings they have been allocated on a basis consistent with the
use of reSoUr￿s.
Cash at bank and in hand
All cash is held in a current bank account and is immediately available for meeting the
objectives of the Trust.
Short-terrn debtors and creditors
Debtors and Greditors are initially recorded at transaction price and subsequently
measured at their settlement amount.
g) Funds
Where conditions exist, which restrict the use of income to a particular purpose, income
is recorded in an appropriate restricted fund.
Permanent Endowments are established based on the direction of a donor
directing that the capital should be invested to generate investment income that
can be extended for a defined purpose.
Restricted funds relate to gifts and legacies which have been given or bequeathed to the
Trust to be used in accordance with the wishes of donors or their representatives. Both
the capital and the income may only be used in accordance with the purposes for which
the funds were donated.
Unrestricted funds have not been restricted in their use to a particular purpose by donors
or their representatives.
Page 14

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
Other donations and legacies
2024
2023
Unrestricted Donations:
588,268
31,140
Restricted Donations:
Heritage Preservation Appeal.
Sculpture Catalogue
Education Fund
6,884
11,814)
2,500
338
1,528
11,653
Music Fund
80,521
9,056
122,639
Keltner Concert Fund
Jack & Barbara Bovender Organ Scholarship fund
Chamber Organ
Conservation
117,582
46,877
6,681
23,439
420
3,553
20,000
1,957
3,647
282,247
1105,0001
419,644
Fabric Fund
St Margaret's Appeal
Other Charitab5e Objects
Sacristy Visilors, Centre
Ramp Access.
3,117
920,701
1,138,882
1,727,150
450,784
Negative figures represent the net impact of donations received in prior years which
subsequently have been returned by the Trustees to the original donor.
Page 15

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
Grants awarded
2024
2023
WA music fund
WA Education Fund
44,423
Vicars, scholarship
Conservation and Care
2,108
Library cataloguing
Weston Collections Fund
20,800
Fabric fund
20,000
Woltson Foundation Grant
Heritage Preservation (HPA)
HPA - Music
10,165
12,542
Keltner Concert Fund
Jack & Barbara Bovender Organ Scholarship fund
General
15,250
Ramp Access
Peter Partridge fund
St Margaret's Appeal
220,375
9,482
355,145
All grants were payable to Westminster Abbey towards the purposes as indicated above
through a combination of restricted and unrestricted funds.
Items included Fn resources expended
2024
2023
Expenditure on raising funds
Bank Charges
Audit fees
2,596
183
876
81
5,300
5,065
6,022
8,079
Page 16

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
staff costs
The Trust has no direct employees. Staff are gifted in kind to the Trust from Westrninster
Abbey Enterprises Limited and the Abbey.
The full year average number of staff working on behalf of the Trust was 2.0 (2023.. 2.0).
No trustees received any remuneration or expenses during the year in relation to this Trust
(2023: £Nil).
Debtor8
2024
2023
Other debtors
470,460
470,460
165
165
Creditors
2024
2023
Other creditors
Trade creditors
10,753
41
5,065
64
10,817
5,129
Other creditors include £5,065 due to Westminster Abbey in respect of the audit fees from
2023 incurred on behalf of the Trust.
Page 17

THE WESTMINSTER ABBEYTRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
Funds
Unrestricted Funds
Balance
Income Expenditure
Transfers
Balance
2023
43,488 1,058,268
2024
General
(8,079)
1,093,677
Designated
Fabric fund
Music Fund
k Other Charitable Objects
Sacristy Visitors, Centre
St Margaret's Appeal
p Vestments
Total Unrestrlcted Funds
41
2,052
664
41
2,052
664
2,509
720
79
2,509
720
79
49,553 1,058,268
(8,0791
1,099,742
Restricted Funds
Balance
Income Expenditure
Transfers
Balance
2023
2024
Conservation
Digitlsatlon of Arch ives
Education Fund
Fabric fund
Heritage Preservation Appeal
Jack & Barbara Bovender
Organ Scholarship fund
Keltner Concert Fund
Chamber Organ
Muniment & Library record5
fund
Music Fund
Other Charitable Objects
Peter Partridge Fund
Sacristy Visitors, Centre
Sculpture Catalogue
St Margaret's Appeal
Vestments
26,317
150
24
20,852
580
6,681
32,998
150
1,552
44,291
7,464
1,528
23,439
6,884
441,287
117,582
{558,8691
50,748
50,748
46,877
46,877
1,586
1,586
103,233
17,194
14,237
282,747
2,500
4,481
7,555
973,491 1,138,882
11,653
3,117
114,886
20,311
14,237
1,203,448
2,500
4,901
7,555
1558,869) 1,553,504
920,701
420
Total Restricted Funds
Page 18

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
Funds (continued)
Endowments
Balance
Income Expenditure
Transfe
Balance
2023
2024
Jack & Barbara Bovender
g Organ Scholarship fund
Total Endowments
558,869
558,869
558,869
558.869
a) Conservation.. Restoration and conservation of objects within the Abbey.
b) Digitisation of Archives.. Digitisation of selected documents and manuscripts from
within the Abbey collection.
c) Education Fund.. To provide support of the costs for schools with limited resources to
use or visit the Abbey, and its education centre.
d) Fabric fund.. For the maintenance of the structure of the Abbey.
e) Heritage Preservation Appeal.. targeting specific funding for 3 key areas.. the building,
its collections and music. It is expected that these funds will be used within the next
financial year.
f) Jack & Barbara Bovender Organ Scholarship fund: funds transferred with the intent of
establishing an endowment fund to generate investment income to help fund the
annual costs to the Abbey of employing an Organ Scholar.
g) Keltner Concert fund.. Meeting the costs incurred by the Abbey in putting on music
concerts. The funds will continue to be drawn upon by the Abbey to offset costs
incurred in the coming year.
h) Chamber Organ.. A contribution via the American Fund for Westminster Abbey that
can be used to support the Abbey in the commissioning a new Chamber Organ.
i) Muniment & Library records fund.. funding to cover costs of radar exploration within
the Muniments room.
j) Music fund.. To support the Abbey 's choir and music department including funding
the commissioning of new choral music.
k) Other Charitable Objects: To fund other religious activity
l) Peter Partridge fund: to fund the maintenance costs of the Abbey's organ blowers.
m) Sacristy Visitors, Centre: to fund the phased development of the Abbey's proposed
new Sacristy Visitors, Centre.
n) Sculpture Catalogue.. funds to support the production of a publication covering 100 of
the Abbey's monuments dating from the 13th century to present, reflecting the
Abbey's role as a site of royal and national significance.
o) St Margaret's Appeal.. Funding raised specifically for use against identifiable running
costs for St Margaret's church.
p) Vestments.. Funding for new garments.
Page 19

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2024
Total Funds
Total
Total
Unrestricted Restricted
funds
funds
Endowments
2024
2023
The funds are represented
by the following assets..
Cash at bank and in hand
640,536
459,206
1,553,044
460
558,869
2,752,449
1,028,008
Other net current assets
459,666
(4,9641
1,023,044
1,099,742
1,553,504
558,869
3,212,115
10. Related Parties
The Trust is related to Westminster Abbey by virtue of common trustees with the Abbey. During
the year the Trust made payments of £Nil (2023.. £355,145) to Westminster Abbey. Amounts
owed to Westminster Abbey are £5,065 in respect of the audit fees for the Trust, invoiced to
the Abbey.
During the year, the Trust received £Nil (2023: Nil) from Westminster Abbey Enterprises
Limited, which is a wholly owned subsidiary of the Abbey.
The Trust has a wholly owned trading subsidiary, Westminster Abbey Developments Limited
company registration number 05673214.This company was dormant during both the current
and preceding year.
No trustees received any remuneration during the year (2023.. None) and no expenses were
reimbursed to any Trustees during the year (2023.. None).
Page 20