THE
WESTMINSTER ABBEY
TRUST
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2025
Ch•rlty numb•r: 1116371

THE WESTMINSTER ABBEY TRUST
Chaiify No. 1116371
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
For the year ended 30 September 2025
Contents
Page{$)
Trustees, advisers and governing documents
Report of the trusto88
Independent Auditors, report to the truste88
Statemènt of Flnancial Acttvilies
10
Balance Sheet
11
Statement of Cash Flows
12
Notes lo the finanaal statèments
13-21

THE WESTMINSTER ABBEY TRUST
Charlty P40. 1116371
TRUSTEES. ADVISERS AND GOVERNING DOCUMENTS
For the year ended 30 Seplember 2025
Trustees
Mr John O'Brien {Chaim￿n)
Dr Julian Litten (to 19 October 2024)
The Very Reverend Dawd Hoyle KCVO MBE
The Reverend Canon David Stanton
Senlor Managernont
Personnel
Ms Valerie Humphrey
(Director of Westminster Abbey Trust. on $8condment from
Westrninster Abbey Enterprlses Limited)
Contacl nam•
Mr Christopher Vyse
Governlng document
Charitable Settlement dated 16 June 21J06
Statug
Charitable Trust
R¢glst•rod charlty numbor
1116371
Prlnclpal offico
The Chapler Offic8
20 Dèan's Yard
Westmin51er Abbey
London SW1 P 3PA
Audltor
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Bankorn
Barclays Bank plc
1 Churchill Place
Canary Wharf
London E14 5HP
Klng Charles111 Sacrlsty
Appeal Committee
Sir Will Adderley (Chalmian)
Catherine Amiitage
Paul Baumann
Lady Sarah Chatto
Matt Cohler
Ronald Freeman
Lord Harris of Peckham
The Very Revd Dr David Hoyle
John O'Brien
The Marquess of Salisbury
Michael Sherwo
Thomas van Straubenzee
Sir Guy Weston
Page 1

THE VVESThIINSTER ABBEY TRUST
Charfty No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 Seplernber 2025
The Trustees take pleasLJre in presenting their report together wTrth the financial stal8ments
for the year ended 30 September 2025.
The legal and administrative infom)ation set out on page 1 foms part ol this report.
Trustaes, advlsers and governlng documents
The Westminster Abbey Trust (the TNst) is an unincorporated trust registèred with the
Charities Commission and was created by Charitable Settlement on 16 June 2006. It vms
set up lo raise lunds to support its declared objectives. which include grant giving.
Under th8 terms of the settlemènt thè Trustee body consists of two nominated trustees and
three co-opted trustees. The powèr ol appointing new co-opted Trusteos lies with the Dean
and Chapler of The Collegiate Church of Saint Peter in Westminster (thè Abbey).
Trustees are given informal training as part of their induction to the charity. This training
involv8s explaining the Trustees, responsibllities, as noted on page 6 10 the financial
stslemenls, and explaining to them the role they are expected lo lake and the involvement In
the charity that this entails.
Obj•¢t8 and activltio8 of the Charlty
The main objectives of the Trust are..
To further the ￿lIgiouS and other charltable purposes of Westminster Abbey
To support the Abbey's Choir Schwl
The Trusteès confirm that they have referred to Ihe guidance ￿ntaIned in the Charity
Commission's general guidance on public benefit when reviewng the Trust's objectives and
in planning future activities and setting the grant making policy. The policy for grants stales
thal expenses should be pertaining to fabric, upkeep and the Education Cenlre.
A cornerstone of Weslrninsler Abbey's mission is to be a lfving symbol of falth al the heart of
the nation. In the year lo September 2025 the Abbey welcomed over 1.6 million worshipp8rs
and visitors.
The Trustees believe that In accordance with the Trusl's objects, financially assisting the
Abbey, including tts Choir School. contributes to the advancement of religion whatever the
circumstances.
The principal sources of in￿rne for the Trust are donations for specific areas of funding Sel
to assist in furthering the religious and other charrtabk purposes of Westminster Abbey. The
operating costs of the Trust are mel from unrestricted donations received in year.
Page 2

THE WESTMINSTER ABBEY TRUST
Charfty No. 11163TI
REPORT OF THE TRUSTEES
For the year anded 30 September 2025
Alms and strategiès lor a¢hlovlng objectlves
The Trust aims to support the Abbey in line wth its objectives. It considers requests for
funding by the Abbey to support religious. structural and edurational purposes.
The Trust seeks to ralse specific m(Thy for proieds it agrees to fund In support of The
Abbey and its Choir School with particular reference for funding to support music. fabric.
conservationlcuratorial. and education related purposes. The main project currently is the
Klng Charles111 Sacristy. The members of the Appeal Committee for the Sacristy are set out
on page 1.
Fundralslng
The Westminster Abbey Trust aims to undertake fijndraising al the highest posslble
standards, consistent with its values. and compliant wilh the requirements of the Fundraising
Regulator. Care and consideration for donors Is paramount. and the Trust aims to act in the
most r8specfful and consideraie way. The maior6ty of income comes from major donors and
charitable trustsl foundations. Y￿th a modest amount coming from on-line and text donations.
The Trust does not use unsollclted lelephone or street fundraising.
The Trust's Director is a Skil￿ fundraiser. No volunteer donor approaches are made without
the consent and support of the Director, thereby avoiding inappropriate approaches being
made.
The Westminster Abbey Trust roceived no complaints about fundraising carried out in thls
financial year.
The Westmlnster Abbey Trusl recognlses the need to protect Vulnerab￿ people and works to
avold seeking or gaining a donation frcvn anyonè who might be considered vulnerabte or
unable to make an infoimed decision.
Grant rnaklng
Durfng Ihe year, grants totalling £297,430 {2024: £Nill were paid to Westminster Abbey.
Flnanclal revlew and achlevements of the year
The total resources of the Tiust amounted to £6,013,96 as at 30 September 2025 (2024..
£3,212,115}. Tolal income amounted to £3.110.209 (2024.. £2,197.150). The main activity in
the year has been to secure donations. grants and pledges to SUPFM)rt the Sacristy project.
£2,975.045 of funding secured for the Sacristy project through grants and donations,
Page 3

THE WESTMINSTER ABBEY TRVST
Charity No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 September 2025
Plans lor future perlods
During the course of 2025-26 tho Tfust will continue to raise funds for targeted projects and
areas which the Abbey has identffled. prrmarily fo()Jsed on the King Chades111 Sacristy
project. bul also continuing to target fundraising in support of the Ab&￿S music,
conservation, curatorial and education activities.
Govèrnance and managèment
The Trustees have ultimale legal responsibiltty for the charity and its work. They agreé the
overall strategic direclion of the organisatson. and are the highest decision-making body.
The Dlrector supports the Trustees and is responsible for the implementation of policy and
for thè management of the day-tTrday running of the organisation, with the support of
W8slminster Abbèy staff. in particular the ReceNer General and Director of Finance.
Key management porsonnel remunerntlon
The Iruslees consider the Diredor of Westminster Abbey Trust as the key managemenl
person for the charity, in charge of directing and t￿trollIng the tharity and runnlng and
operating the charity on a day to day basis.
The Dlr8Ctor of Westminster Abbey Trust Is an employee of Westminster Abbey Enterprfses
Limited (WAELI seconded to the Trust. Remuneration of WAEL employees, including any
annual increases, is approved by the WAEL board. The initial level of remuneration paid lo
the Director of the Trust was established through a benchmarking exerase.
Reservès poll¢y
The Trustees aim to distribute the net income of the Trust10 5UPPOrt the Trust's charitable
objectives, keeplng only such free reserves as are necessary to maintaln working capital.
The Trust has low overhead and operating o)sls, which are typicalty below £1 Ok per yèar.
These costs are ordinarily able to be funded from unreslricted donations received in y8ar.
So far as possible the Trust seeks lo maintain its unrestricted reserves in the range £40k to
£50k. Reserves are $plit unreslrided £1,096.47512024.' £1.099,742), restricted £4,372,724
12024: £1.553,5041, and endowments £544.737 {2024.. £558,869). Most of the unrestricted
reserves will be conlributed to the King Charles111 Sacristy project in the coming year.
Inve$tm•nt pollcy
The Trustees are responsible for settlng the charity's investment policy, so that it supports
the charfly's long-temi aims. The charity invests wlth the intent that funds invèsted should
generate income and capital growth. Funds are managed in accordance with legal
requirements and any restrictions that have been placed on them.
The Trustoes have agreed an investment polrcy for the Charity's nonexpendable
endowments that aim to invest these funds to maintain long-term capital value in real terms
and generate income for use in line with the purpose and ￿StrIctIonS of those funds. The
investments are chosen and managed in accordance with the charity's ethical Investment
principles. seeking to avoid investments that conflict the Charity's values and charitable
purposes.
Page 4

THE WESTMINSTER ABBEY TRUST
Charfty No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 Sèptember 2025
Rlsk management
The Trustees have assessed the signtficant risks to whlch the Tnjst is exposed, and are
satisfied that these can be mitigated. The Trustees consider lath 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 lo mitigate
this risk by maintaining relationships with existing donors during and beyond a project's
Completion, and continuing to identrfy and develop rekqtionships with potential new donors
o are interested in the Abbey and its ongoing need for funding to support major projects.
Through the relationships with donors and networking, the Trust is transparent about funding
needs and specific initiatives for which funding is being sought.
Trusts•s' golng concern assèssment
The Trustees consider the Trust to be a going ¢oncem. as it continues to have positive fund
balances and has been able to maintain ongoing operations durlng recent years, despite
dKficult clrcumslances.
Underlylng admlnlstrative costs were £12k in the year. whlch provid88 the Trustees wlth
confidence that the Trust has sufficient financial cover throughout the perK)d considered lo
March 2027. being at least another 12 months from the date of signing. Westminster Abbey
Enterprises Ltd continues to grft employee time. and there is no reason to consider that the
Trust will not be a going concem In the coming year.
Dlsclosurn of Infomiallon to the audltors
In the case of each person who was a Iruslee at the lime this report was approved..
so far as that trustee was aware there was no relevant available infomiation of which the
auditors were unaware. and
that trustee had taken all steps that the trustee ought to have taken as a trustee lo make
himself or herself aware of any relevant audit infomiat'on and to establish that the
auditors were aware of that inf(*matlon.
Page S

THE WESTMINSTER ABBEY TRUST
Chartty No. 1116371
REPORT OF THE TRUSTEES
For the year ended 30 Seplember 2025
Statement of Trusleos, responslbllltle$
The Trustees are responsible for preparing the Report of the Trustees and the financlal
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 lo charities in England and Wales requires the trustees lo prepare
flnancial statements for each financial year which gwe a true and fair view of the stale of
affairs of the charity and of the incoming resources and application of resources of the
charity for that perrod. In preparing these financial statements. the trustees are required to:
select suitable accounting policies and then appty them consistendy..
observe the methods and principles in the applicable Charities SORP;
make judgments and estimates that are reasonable and prudenl,.
slate whether appllcable UK Accounting Stsndards have been followed, subjèct lo any
material departures disclosed and explain&d in the financial stalements: and
prepare the financial statements on the going concem basis un￿sS it is inappropriate
to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disdoso with
r&asonable accuracy al any time the finanaal position of the charity and enable them to
onsure that the financial slatemenls comply with the Charitles Act 2011, the Charilles
(Accounts and Reports) Regulations 2008 and the provisions of the charitable selll8ment.
They are also responsible for safeguarding the assets of the chadty and hence for taking
reasonable steps for the prevention and detectson of fraud and other irregularitles.
Approved by the Twslees and slgned on their behall:
¥LbE
John O, Brien
Trustee (Chairman)
24 February 2026
Page 6

Independont Auditorfs Report to the Trustees of The Westminster Abbey Trust
Oplnlon
We have audited the financial statements of The We5trninster Abboy Trust for th8 year ended 30
September 2025 whtch comprise the Ststement of Financial Activities. Balance Sheet. Ststemenl of
Cash Flows and nots8 to the financial statements, including Signifi￿nt accounting policies. The
finanual rgPOrtTrng frarr￿Qrk that has been applied in their preparation is applicable law and United
Klngdom Accountin9 Standards. including Financial Rew)rting Standard 102 The Financial Reporting
Stsndard applicable in the UK and Republi¢ of Ireland Iunited Kingdom Generally Accepted
Accounting Practy'cel.
In our opinlon the financial ststements:
glve a true and fair view of the state of the charfty's affairs as al 30 Septembor 2025 and of Ils
Income and oxp6nditu￿, for the year then ended..
have been proptty prepared in acc¢ydance wrth United Kingdom Gen8ralty Accepte(l Accounting
Praclic¥'. and
have been prepared in accffllance with the requirnm9nts of the Chaiities Act 2011.
B•sl• for oplnlon
We conducted our audSt In accordance wlth Inlematb)nal Standards on Audlting (UK} IISAS IUK)) and
applicable18w. Our responsibililies under those standar(Is are lurther descrlbetl in the Auditor's
responsibilities for the audit of the financial 51alèmenls section of our report. We are independent of
the charity in a￿rdance with the elhical rèquirernen15 that a￿ relevant to our audit of the financial
8t8lemenls In the UK. Includlng the FRC'8 ElhiGal Stsndard. a￿1 we have fvifilled our oth&r elhical
responslbilities in a￿ance with these requiroments. We belleve thal the audit evidence we have
oblalnod Is sufficlent and oppropriale to p￿￿￿8 a bas18 for our oplnlon.
Conclu¥lon• f•l•tlng to golng conc•m
In audltlng the financlal statements. we have concluded that tho trustee's uso ol thè golng concern
Si8 of accounting in the prfjparat￿n of the financial slaiemgnts ￿ approprtate.
Bosgd on the work we have perfornigd. we havè not Identified any materlal uncertalntlgs ralaung to
events or ¢ondltions that. ind￿ld￿allY or collectivety. may cast slgnlficanl doubl on the charity's ability
to continue 85 a going concem for a perkxl of 81 leas1 iwefve months from whon the financlal
Slaltments are aulhorised for issuè.
Our responsibilitie$ and the Tesponsibilittes of the trustees ￿th respKt to going can￿M are
dtsscribeé in tho relevant Sedions of this ￿POrt.
other Inforniatlon
The Iw91ees Ar8 responsible for the other informalkin contsined wthln the 8nnu•l report. The other
information comprises Ihg information included in the 8nnual report. other than the financial
statements and our audilorfs ￿port thereon. Our opinion on th• financial statèmonts does not cover
the other information and. except to the axient othefwise explKitty stated in OUT report, we do not
express any fomi of assurance ￿n¢￿slOn Ihereon.
Our respmslbllity Is to read Ihe other infonnation and. In dolng so, ￿nSider whther the oth8r
Information is materialty inconsistenl wtth the finanoal statements or our knowledge obtained In the
audlt or othe￿iS9 appears to be malerialty mi%ststed. If we klentify such m8lerial incon51sIBncies or
apparent material misstatements. we aro required to delemine bvhether this gives rise to a materlal
misstatement in the financial stslements themselves. If. based on Ihe WO￿ we have perfom)ed. we
nclude that there is a rnalerial mk%stalement of this other information, we are required lo report th8t
fact.
We have nothing lo report in this regatd.
Page 7

Independent Audltorfs Report to the Trustees of The Westminster Abbey Trust
Mattors on whlch we are requlred to r•port by ex￿pt10Th
We have nothing to r&ph)rt In respeL* of the following matters In relation to which the Ch8rfti98
(Accoun18 and Rep(vtsl Regulab"ons 2008 requi￿S us to r&k)Ort to you Ir. in Ouf opinion..
Ihe information given in the ￿nar￿la1 stalemenl81$ In(￿nSiStent in any Mate￿al respect with the
Iru$lees' report,. or
sufficient and proper accountlng records have not been kept by the charrty," or
tha financfjal statements are not in agreement with the accountiThJ records and retums.. or
we have not recerved all the infonnation and explanatlons we requwe for our audll.
Rèsponslbllltl•s of trulte
As explaine(I more fully in the tnjstees, r8sponsibiliUes stateThnl Sel OLrt on page 6, tha Iru8¢e88 are
responsible for the preparation of the finanual slalem8nls and for being satisfied th81 they give a true
and fair view, and for such inlem81 wtrol as th8 trustees determine is nècessary lo anable the
pr6parallon of flnanclal slalements that are freo from materlal mlsstalemenl. whether due lo fraud or
orror.
In prepa￿ng the financlal statements, thg trustees are responsible for assessing thè charity'8 abillty to
continue as a going ￿ncern. dlscfo8lng, as applicable. matters related to going concem and using
the golng concem basls of accounting unless the trustses either intend to Ilquidate the charity or lo
ce888 operations. or have no realistic altemalive bul lo do so.
Audltovs r••pon•Sblllti•s for tho audlt of the financlal •tatem•nts
We have been appointed as audilor under sgclion 151 of the Charities Act 2011, and report in
accorilance wlth the Acts and relevant regulation8 made or having effect thereundèr.
Our oblectiVe8 arg lo obthln re850n8b￿ assurance ab)ul whether financlal statements as a whole
are Irge from material misslalemenl. whether due lo fraud or error, and lo issue an auditt)rf8 report
that includgs our opin￿n. Reagonable assurance 1$ a high leval of assur8n(*, but is not a guarantè8
that an audit conducted in accordance with ISAS (UK) will ahvays delecl a material misstatement
when It exlsls. Mis$lalements con arise from fraud or error and are considered mat8nal rf, individually
or in the aggregalg, they could reasonably bè expoctg(110 influence the economic ded8lDn$ of usern
takan on tho basis of these financial 8talgm8nts.
Detalls of thè extent to whkh th¢ audlt was consklered capable of dete¢¥￿￿ Irregularitiè$, InclLHllng
fraud and nor￿0MPlIanae ￿th lavr& and r8gul8tion8 are sel out bebw.
A furthgr description of our respDnsibilrties for the audh of the finanelal statements is I￿ated on the
FinancI81 Reporting Couneil's web8rtè at..
forms part of our audrtor's report.
. This descrlptbn
Ext•nt to whlch th• audlt vns ¢on¥ld•r•d capabl• of det•¢tlng Irr•gularltl•s. Includlng hud
Irregularities, i￿r￿dIng fraud, are Instances of non-compliance with 18ws and regUlat￿nS. We
identified and assessed the risks of material misstslemenl of the financial stslements from
irregularities. whether due to fraud or error. and discussed these between OUT audit le8m rn8mbers.
We then designed arKI perfomed audil procedures responsive lo those risks, induding obtoining
audit evidance sufficient and approwiate to provAle 8 basls for our opinion.
We obtaingd an understsnding of the kngal and regutalory frameworks wilhin whlch the charity
OPgrat8s, focusing on those laws and regulations that have a d1￿ct effe￿ on the determination of
matèrlal amounts and disclosures in the finan¢ial slalements. The laws and regulations we
onsidered in th1$ context were Ihe Charities Act 2011 toyelhor with the Charities SORP {FRS1021
2019. We assessed the required compliance Ihese laws and r8gulatsons as part of our audit
Pr￿edureS on the reLqted financial statement rtems.
Pa9e 8

Indepondent Auditorfs Report to the Trustees of The Westminster Abbey Trust
In addhion, we consld8r8d provisions of other laws and regulabons that do not have a direct 8ff8cl on
the financial statements but compliance with which might be fundamental to the charlty's ability to
operate or to avoKI a mater081 penalty. We also consbjered the opportunities and incentives thal may
gxist wilhin tho charity for fraud. The Lgws and regylations considered in this context for the UK
operations were the Chanty cornmtsS￿n reguLqtM)ns.
Auditing standards limit the required audtt pr(tedures lo identtty non-compliance with theselows and
regulations to enquiry of the TNslees and other marbagenwnt and inspection of regU￿tOry and legal
correspondence. il any.
We identified the greatest rfsk of mat8rlo1 impad m th8 non-ststsjtory financial statements from
irregularities. irtcluding fraud, to be wlthin the timing of rectrjnitson of legacy and grant income, and
the override of controL8 by management. Our 8udil procedures to respond lo these risks included
enquiries of manag8m&nt and the trusteés about their own identffution an(18ssessment of the rlsks
of iTreguladUe8. sampl8 testing on the pjstsng ofjoumaL8, reviewing accounting 8Stimates for biases,
revi8w(ng regulatory correspondence, arKI reading mlnules of meetings of those char9ed with
govern8nc8.
Regardlng the Umlng of recognltk*n of legacy Income. we addressed thls through revlèw of all legacy
correspondence and receipts up lo the d8te of approval of thè finandal slalements. to ènsure
treatment In line with the accounb'ng polw.
Regardlng the tlmlng of recogntti'on of grant income. we addressed this throu￿ review of 811 matert81
grant agreements lo ensu￿ coryocl I￿alment under Ihe Chariti8s SORP. Sncluding consideralion of
th8 accounllng period in whKh incom Shou￿ be rwnised.
Owlng to the inherent limita￿TrO of an audlt. thore is an unavo*Jablo risk that we may not have
deleded somè malerfal misstatements in the financial slalements, even though we hav6 properfy
planngd and performed our audit in accordance with auditing standards. For example. the further
removed nonacompllance wrth laws anrj regulallons lirraguLaritiesl is from the events and
tr8n$acllon$ rgflgcted in thé financial slalements. Ihe le$s lik8ly the inherenuy limited procedura8
requbred by audillng stsndards would identify it. In ad(Jillon. as with any audit. there rgmainad
hlgher rlsk of non4eteciion of irregularities. as these may involv8 collusion, forgery, Intention81
omSs3ions. m4srepr8sentalSons, or the override of internal controls. We are not respon51ble for
preventing r￿n￿cOMplI8nce and cannot be expected to detect nonvcompllance with all laws arKI
regulations.
Us0 of our report
This rep)rt 18 made solely to lh8 charfys trustees. as a body, In accordance with Part 4 of th8
Charities IA¢counls an(J Reports) Regulations 2008. Our audit work h8s been undertaken so thal we
might stato to the charity's Iruslee8 those matters we are ￿QuIred to state lo them in an audilor'$
report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assumè
sponsibilty to anyone other than the charity and the charity's trustees as a body. for our audit work,
foi thi8 r8wrL or for the opinions we have formed.
lI.￿.L￿e
Crowe U.K. LLP
Statutory Auditor
London
Date.. 12 March 2026
cr¢￿ V.K. LLP i8 e￿'b￿ for8pwJinlrr*nl 0$ Ihe ￿lty￿VAlUa oftt8 elglt41ty forarvxnbMrt8s audRoro18
con¥)any urthrsecllon 1212 ccfflp￿IesACI 20￿.
Page 9

THE WESTMINSTER ABBEY TRUST
Charlty No. 1116371
STATEMENT OF FINANCIAL ACTWIES
For the year onded 30 September 2025
LlnrnBtrl¢ted Restricted End¢)wm•nts
Funds
fund¥
Total
2025
Total
2024
Not•¥
Income from:
Donation8
Gr8nts
L8gacles
Ineome from Investments
Interest on cash deposits
Tour incom8
Total In¢om•
1.750
1,030,534
2.024,184
1.032.284
2.024,184
10,000
16,874
26,867
230.162
922,437
1,021.805
10.CKIO
16,874
26,867
13.746
9,000
2,197.150
38,617
3.071,592
3,110,209
Exp•ndltur• on:
Ralslng funds..
Administr8lNe expgn8es
Bank charges and Interest
Charllable actlvFtlas'.
Grants lo The Dean & Chapter
of Weslminsler
Total ex￿nd[tUr1
12.468
118
12.468
146
7,896
183
29,300
268.130
297,430
41,884
268.160
310,044
8.079
Net Sn¢omo 11oxp•ndllur•l
b￿Or• Inv•stm•nt galn•
13,2671
2.803,432
2.800,165
2,189,071
R88118èd gains
Unrealisad J088è8
Net Income I l•xp•Trdltur•)
b•for• tran¥f•r8
15.788
15,788
{14.132) 174,1321
114,132) 2.801.821
(3.267)
2.819.220
2.189,071
Transfers betwe6n funds
Net mov•m•nt In fund•
{3,267)
2,819,220
(14.132) 2,801.821
2,189,071
Reconclllatlon of fundg:
Total funds brought fo￿ard
30 September 2024
1.099,742
1,553,504
S58.869 3,212.115
1.023.044
Total funds carried fThard
30 Seplembor 2025
1.096,475
4.372.n4
544,737 6.013,936
3,212.115
All recognised gains and losses in t)oth years have been induded in the Statem8nl of Financi81
Activities. The resuts for the years a5 set out atrthie have been derived entirely from continuing
operations.
Page 10

THE WESTMINSTER AB8EY TRUST
Charity No. 1116371
BALANCE SHEET
As at 30 September 2025
Unr•strieted Re8trlct•d
Funds
Funds
Endowments
Total
2025
Total
2024
Note*
Nonwcurrnnt as80ts
Investments
544.737 544,737
Curront ass•ts
Debtors
Cash at bank and In
hand
470,000
s￿,402
1,020,402
470,460
631,919
3,822,322
4,454,241
2,752,449
1,101,919
4372,724
5.474.643
3,222,909
Creditors.. amounts
falling due within one
year
5.444
10,794
N•t currnnt as••t•
1,096.475
4.372.724
5.489,199
3,112,115
Total assets loii
currnnt Ilabllltl••
1,096.475
4.372,724
$14.737 6.013,936
3,212,115
The fund* of th•
harlty
Unreslrfcled fiJnd6
1,096,475
1.096.475
4,372.724
544,737 544.737
544,737 6,013,936
1,009,742
1.553,504
558,869
3,212,115
Reslrbcled funds
4.372.724
Endowmenls
Total funds
10
1,096,475
4,372,724
The ffinanoal slal8ments and notes on pages 10 to 21 were approved by the Trustees and
authorised for issue and signed on their behall.
John O. Brien
Twstee (Chaiman)
24 February 2026
Page11

THE WESTMINSTER ABBEY TRUST
Charlty No. 1116371
STATEMENT OF CASH FLOWS
For the year ended 30 Sgplember 2025
2025
2024
Re¢onclllatlon of net movement In fvnd¥ to net cash
flow from oporatlng actlvlties
Net movement in lunds
Adlustm•nts for.
Investment income
Unrealised Losses on inve5tm8nts
Realised galns on Investments
Ilncreasel l Decrease in debtors
IDecr8asel I Increase in credlto
Not cash provld•d by oporntlng *ctlvltl••
2.801,821
2.189,071
(43,741}
14.132
115,7881
1549,942)
{5,3501
2.201.132
{13.7461
1470.2951
5.665
1.710,095
Cash IIow8 from Inv•seing •cUvltles.'
Purcha$e of inve$lments
Proceed8 on the sale of equity-based doMtion8
Interest and dWend8
Net cash provlded by Inv••tlng actlvllle•
1558.869)
15.788
43.741
1499,3401
13,746
13,746
Chang• Sn c4•h and ¢a•h •qufv•l•nts In th• year
1.701.792
1.724,441
Cash and cash aqulv•l8nts brought forwaryl
2,752,449
1.028,008
Cash and Ga•h •qulval•nts urrt•d lorward
4,454.241
2.752,449
P￿e 12

THE WESTMINSTER ABBEY TRusr
Charlty No. 11163ri
NOTES TO THE FINANCIAL STATEMENTS
For thg yaar ended 30 September 2025
1. Accountlng pollclès
Basls of prepar•tlon and ass•um•nt of Go5ng Concern
Westminster Abbey Trust is an unincorporated trust registered with the Charities
Commission and created by a Charitable Settlement dated 16 June 2006. The regist8r8d
office is: Th& Chapter Office. 20 Dean's Yard. Westminster, London SW1 P 3PA.
Th8 Ilnanclal statoments have been prepared under the hlstorfcal cost convention and In
accordance wth the Statement of Recommended Practice: Accounting and Reporting by
Charilles preparing their accounts in aGcordance wrth Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 102) issued on 16 July 2014, the Flnanclal
Reporting Standard applicable in the United Kingdom and Republlc of Ireland {FRS 102). the
Trust Deed and the Charitses Act 2011.
These accounts {flnanclal statements) have been prepared to glve a 'true and fairf view and
have departed from the Charities {Accounts and Reports) Regulations 2008 only to the
extent required to provide a 'true and falr view.. This departure has involved following
Accounllng and Reporiing by Charities preparing their accounts in accordance with the
Financial Reporting Stsndard applicab18 in the UK and Republic of Ireland IFRS 102) issued
on 18 Juw 2014 rather than the Accounb'ng and Reporting by Charities.. Statemenl of
Recommended Practice effect6ve from 1 April 2005 whlch has since been wlthdrawn.
The finan￿al statements are prepared In sterfing which is the fvndional currency of the
Twsl.
The Trust constilutes a public benefft entity as defined by FRS 102.
The Truste88 have ￿nsidered the r880urc98 of and forécasts lor the Trust arKI have
reasonable èxpectation that It has adequate resources to continue in operational existènce
of the foreseeable future. The Trust IheTefore continues to adopt the going concern basis In
preparing its consolidated financial statements.
bl
Crltlcal Judg•m•nt• and k•y of ••tlm•tloTh
The Charity recognlses ￿gaCY income in accordance wth the Charity SORP wh8n it Is
probablè that the income wlll be received and the amount can be moasured reliably.
Legacy income inherently involves significant judgements as the timing and amount of
income depends on the progress of estate administration. including the disposal of propaty
and other estate assets.
In forming Ihe judgement, the charty ￿nsiders.
Notrfication of entitlement
The expected reallsatk)n of estste assets. such as property or Invgstmgnts. where the valuo
may fluctuate before sale
The availability of estate accounts or valuations from executors
Whether the materièl conditions attaclwd the lega￿ are either WTthin the ￿ntrol of the tharity
or have been mot.
Where estates contain propety ￿ other illiquid assets. the timing of disposal can be inherently
uncertain and are assessed on a case-by-case basis. Until such information is available to
enable a reliable MeaSU￿rnent, legacies are wnsidered as contingent assets and would only
be disclosed if material.
Page 13

THE WESTMINSTER ABBEY TRUST
Charlty No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 Septembei 2025
In¢omo r•eognlllon
All income is recognised once the charity has ents'll8ment to the income. it is probabl6 that the
income will be received and the amount of income receivable can be measured reliably, unless
it relates lo a specific future period. in which case it is defeffed. Income subject to restrictions
is alk)caled to the relevant fund.
Donations are recognised on a re￿Ivable basis, except in the case of donation5 from
Wéstminster Abbey Enterprises Limited. which are ffjcognised on an accrual basis once
the WAEL board has made a commitment to gift distributable surplus to the Trust.
Income from grants is recognised upon fulfilment of conditions within the charity's control,
and there is sufficient evidence that conditions have been met. Where grant payments
are received and there is uncertainty as to whether the charity can mgel any associatsd
conditions, the incoming resource is deferrèd until conditions are met.
Income from legacies Is recognised when probate has beèn granted to the executors,
there is certainly of entitlement and a ￿asOnable ability to establish the value of th8
donatlon based on known cash balancts or can be reasonably estimated from
appropriately documented information from executors or estat8 aGcounts wlth high
probability ol recelpt even where liming may be uncertain.
Income from Investments and interest on cash deposlts is rec(yJnised on a recelvabl8
basis when thè amount can ￿ measured reliabty.
dl
EX￿ndIt￿M
Expenditure is accountèd for on an accruals basis and has been Classifi￿ under headings
that aggregate all costs relating to the category. Where costs cannot be directly attributed to
particular headings they have been albcated on a basis consislenl wilh the use of
resources.
Liabllllies are recognised as exponditure as soon as there is a legal or constructive obligats'on
commltting the charity to that expenditure, it is probable that settlemenl will be rèquired and
the amount of the obllgation can be measured rellabty.
Cash at bank and In hand
All cash is held in a current bank account and is immedlately available for meeting the
objectives of the Trust.
Short4•rm debtor8 and cr•ditors
Debtors and c￿dItOrS are initially recorded al transaction price and subsequenlty measured
al their settlement amount.
Page 14

ThE WESTMINSTER ABBEYTRUST
Chartty No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year gndwl 30 September 2025
Investment•
Inveslrnents are measured at falr value. The Statement of Financial Activity includes
realised gains and losses on investments sold in the year and unrealised gains and losses
on the revaluation of investments.
h)
Funds
Where conditions exist. which restrict the use of income to a particular purpose. income is
re¢orded in an appropriat8 restricted fund.
Permanent Endowments are established based on the direction of 8 donor dlrecting that the
capital should be invested to generate investment income that can be extended for a defined
purpose.
Restricted funds relate to grfts and *acies ¥thich have been given or bequeathed to the
Trust to be used in accordance with the wishes of donors or their representatives. Both Ihe
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 wrpose by donors or
their representatives.
Page 15

THE WESTMINSTER ABBEY TRUST
Chartty No. 11163TI
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2025
In¢omo from Donations. grants and legac163
Donatlons
2025
2024
Unrestrict
1,750
13.717
Reslricted Donafyons
Heritsge Preservation Appeal
Sculpture Catalogue
Vestments
6.884
3,134
744
Education Fund
Music Fund
Choir School fvnd
Jack & Barbara Bovender Organ Scholarship fund
Chambfrr Organ
conse￿atiOn
Fabrk Fund
Sl Margar•l's A￿81
Other Charitable Objects
King Charfe8111 Sacr18ty
1,528
11.176
117,583
2,927
6,681
713
7,269
1,013,861
1,030.534
420
3,117
69,OS7
216,445
1,032.284
230.162
Grants rocelved
Restri
led Gr
nl income
King Chades111 Sacristy
Weslmlnsler Abbey Cholr Sthcx)I fund
ulplure catalogue
Music fund
Fobric lund
Other charitsble objects
2025
2024
1.961.184
55,000
8,C4)0
851.644
477
23,439
46,877
922.437
2,024.184
Legacy Income
2025
2024
Unrestrlcled
10,000
1,021.805
Page 16

THE WESTMINSTER ABBEY TRUST
Charlty No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2025
Items Included In ro8ourc•s expended
2025
2024
E¥pendituffj on rnising fvnd$
Bank Charges
Audlt fees
2.596
183
5,400
12,614
5.300
8,079
Staff costs
The Trust has no direct empbyees. Staff ar8 gifted in kind to the Trust from Westminster
Abbey Enterprises LImit￿d and the Abbey.
The full year average number of staff working on behaw of the Trust was 2.3 (2024: 2.0).
No trustees recelvèd any remuneration or expenses dudng the year in relatlon to thls Trust
(2024: £NIII.
Grants awardod
2025
2024
Gentral
29.300
WA Educallon Fund
1,552
Sculpture Catalooufr
Vestments
2,249
2.887
Fabrk fund
23.480
Horitsge Preservation Appeal
King Charl88111 Sacristy
192.711
WA music fun(1
KeItr￿ Concert Fund
20,250
Peter Partridge fund
14.237
297,430
I grants were payable to Weslmlnster Abbey from the funds indicated above, a
combination of restricted and unrestricted funds for costs incurred by the Abbey. The
purwses and use of these funds are set out under note 8.
Page 17

THE WESTMINSTER ABBEY TRUST
Ch•rlty No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 Seplernber 2025
Investmonts
2025
2024
Balance al 1 October
Addillons
Revaluations
Disposa18
Balanco al 30 September
1.090,678
2,045
(547.9861
$44,737
Al investments held at the 8nd of the year, are held in unlisted managed funds howevar
Ih83e have an ob8erv8ble net asset value.
Debtorn
2025
2024
Olh8r debtors
1.020.402
1.020,402
470.460
470,460
Other debtors related to recognised legacy income where valu8 In thé estats Is held in non-
Ilquid assets that are awaiting disposal.
Cr•dltor8
2025
2024
Other credétor8
Trado creditor8
5.400
10.753
41
10.817
Other creditors represent amounts due to Westminster Abbey for audlt fees Incurred on
behalf of the Trust.
Page 18

THE WESTMINSTER ABBEY TRUST
Charity No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 Seplember 2025
Funds
Unrestricted Funds
8alan¢o
In¢omo
EXpondI￿r• GaIn￿ (108•o$1
Trnn•forn
8414n¢o
2024
1.093.677
2026
1.090.410
Gonoral
38.617
141,8841
D8$lgnat
g Fabric fund
h King Charles111 Sacristy
Si Margaret's Appeal
m Music Fund
o Vestments
p Other Charllable Objects
Total Unr••trf¢tsd Fund•
41
41
2,509
720
2,052
79
720
2.052
1,099.742
38.617
1.096,475
Balance
Incom•
Ex￿ndIt￿le Galnsl I10•3e•l
Transfer•
Balance
2024
2025
Conservation
Oigilisalion of Archives
Munimenl & Library recoTd8
fund
Sculpture Catalogue
Educat￿￿ Fund
2.927
35,925
150
150
1.586
12.249)
11.552)
17.464)
(23.4801
{192,741)
8.251
744
1.552
7.464
44.291
1.￿13.448 2.984.021
4,￿1
713
50.748
46.877
14,237
114.886
744
Heritage Preservation Appeal
Fabric fund
King Charfes111 Sacfisty
St Margaiel's Appeal
Kellner Concert Fund
Chamber Organ
Peter Partridge Fund
Music Fund
Westminster Abbey Cholr
School Fund
Jack & Barbara Bovender
Organ Scholarship fund
Vestments
21,311
4,010.516
5,614
30,498
46,877
15.788
(20.2501
(14.2371
13.500)
112.772
55,000
7,898
3.134
7.￿9
12.687)
8,002
27,580
Other Charitable Oblects
Totsl R•strICt￿ Funds
20.311
1,$53,504 3,071.592
{268,1601
1S,788
4,372,724
Page 19

THE WESTMINSTER ABBEY TRUST
Charlty No. f f 16371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 September 2025
Funds (continued)
Endowments
Balan¢e
Incom•
Expendlture Galn&l Ilosse•) Transf•r8
Balanco
2024
2025
Jaek & Barbara Bovender
Organ Scholarship lund
Total Endowments
(14132)
544.737
558,869
{14.1321
544,737
al Conséryation.. Restorallon and conservatlon of ot¥'ects within the Abbey.
b) Digitisalion of knhives.. Digitisation of selected documents and manuscrlpts from
withln the Abbey collecllon.
cl Munlment & Library re&)rds furKI.' furKllng to cover CA)sts of radar exploration wlthln
the Muniments room.
d) ScLJlpturé Catalogue.. funds to support the production of a publication covering 100 of
the Abbey's monuments dating Irom the 13° century lo p￿Sent. refiectlng the
Abbey's role as a site ol royal and national significance.
e} Education Fund.. To wovlde support of the costs for schools wrth limited resources to
use or vlsit the Abtey and ils education centre.
Heritage Presejvalion Appeal.. tsrgeting spedfic funding for 3 key areas.. the building,
its collections and music. It is expethd that thtte funds will be used wrthin the nèxt
financial year.
g) Fabric fund: For the rnaint8nance of the structure of the Abbey.
h) King Charles111 Sacrlsty.. to fund the phased development of the Abbey's proposèd
new Sacrlsty.
i) St Margaret's Ap￿81.. Funding raised specffically for use against Identlflablè runnlng
costs for St Margaret's churth.
Jl Kellner cOn￿rt fund.. Meeting the costs Incurred by the Abbey In putting on muslc
concerts. The funds will conts'nue to ￿ drawn upon by the Abbey to offset costs
Incurred in the coming year.
k) 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.
l) Peter Partridge fund: to fund the Maintenan￿ costs of the Abbey's organ blowers.
m) Music fund.. To support the Abbey 's choir and music department including funding
the commissioning of new choral music.
n) We5tminsler Abbey Choir SchcM)I fund: A contribution wlh pledge for a further two
years lo offsel the costs of providing the educational settlng for a chorister.
o} Jack & Barbara Bovender Organ Scholarship fund.. fijnds transferred with the intent of
establishing an endovm)enl fijnd to generate investrnenl inrAJme to help fund the
annual costs lo the Abbey of employing an Organ Scholar.
p) Vestments: Funding for new garments.
ql Othèr charitab￿ Objects: To fund relrgious aclivities of the Abbey.
Page 20

THE WESTMINSTER ABBEY TRUST
Charlty No. 1116371
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 septeM￿r 2025
10.
Total Funds
T¢)tal
Total
Unrestr1¢t￿ Re•trlcted ETrdowments
2025
2024
The funds are represented by
the following assets..
Cash al bank and in hand
Other nel current assets
Inv881ments
631.919
3.822,322
4,454,241
2.752,449
459,666
464,556
550,402
1.104.958
544.737
544.737
1,096A75
4J72.n4
544,737
6,013.936
3,212,115
11. Relaled Partlos
The Trust is related to Weslminster Abbey by virtue of common trustees with th8 Abbey.
During the year the Trust made payments to Westminster Abbey of £307,795 comprising
funds granted of £297,430 and reimbursement in rekition to administrative expenses of
£10,36512024'. £Nil). Amounts owed to Westminster Abbey are £5,400 in respect of the
audit fees for the Trust. invoic8d to the Abbey.
During the year, the Trust received £NII (2024: Nil) Irom Westrninster Abbey Enterprises
Llmited, which is 8 wholly owned subsidiary of the Abbey.
Thè Trust has a wholty ownèd trading subsidiary, Weslmlnster Abbey Developments Limlted
company regislratlon number 05673214.This company was domiant during both thè current
and preceding year.
No trustees received any remuneration during the year12024.' None) and no expenses were
reimbursed lo any Trustees during the year {2024.' None).
Page 21