CIIARTTY REG1S'fi..S0N NUMBLI 11.. IJ34081 BRth Abbey P#i'oehig1 Cliurch Council FinanciHI stateents 31 De¢ember 2023
Ilxth Abbey Parochial Chujyh Council iingncial St*lemen15 YCAI. 31 Dtctmbtj. 2023 PAge Twsiee5' annual rewrt Independertl audilD¢s rert lo thc tn¢mbers io Consolidated Statenieni orrinancial &¢livilies 14 Consolidaied Ststement of financial p)siljDn 15 Cliarity Slal¢ineiii of financial PDSition 16 Consolidaied Statement of¢h flows 17 Accounting policies 18 Nolts to the fIn¢18] ststcments 22 Tljo folloiying PXEe5 do not loi'm parl olthe fi]banciRI 5tatemoDts DEtailed ststemcnl orrinuncial activities 41 Notes io the deiailed stalemeiit of financial aclivil2es 43
IlllJ Abbcy Pi'ochiAI Churcli Coiirttil -I'ru5tees' Aiinuxl Rcport Yer ¢iided 31 Deccml)er 2023 REfL4 RENCE AND ADMINISI'RATIVE DE'J'AILS Jlegl$ttred eljarily Tl)¢ ParochiHI Cliurcli Council ofthe E¢¢lesiaslical P&rish of Balli AbbBy with St James, B&th Operating nme 13&ih Abbey PCC Chaiily reEi$lralion numbci. 1134081 PrincipRI otrice Th¢ Abb¢y Office5 9 King51un Buildin88 Baili RAI ILI- Aiidilor8 Bishop Flcming 1.1 10 T¢iiiple Ilack Biinkc¥s Nalwcst 24-25 8tall SiY¢ei ElThili BAI IQI-. Sl 6fL Solicitois Clgrke Willmolt LLP l Georges SquDre, Bath Street Bri5101, BSI 6BA Sivnc King LLP Upper Borou Court Upper Boroii¥h Wa115 Baili BAI IRG THE TRU,8-fELS The folloiying Stry¢ a$ Iru5te£5 Df Ihe ehirity during tht ytr'. Cotn]nittt¢ nJ¢mbership The Ilevetcnd Guy BridgeivDier The Ileverend Sieplien Ciirling TIIL R¢verend Evelyn Le¢-Barkr Tlie Revcrend Clialitl Mason Tlic Revereiid Caih CHndi%h The R¢vereiid Nigel Raiyliiiso MTJ K¢y-Piigh Mr A BTagg Mr D Flabb DT J Playfair MrJ Eagaw Mrs D Cllrdy P Sliuttl¢worth Ms E Shields-Pett Mr11 CaTver Dr P Lollecott Mi'5 P Fox Mr l) Bla¢kmor¢ Mr T Wesibiook MTS J Skellett Mr R Cliarlt8%VOrth Mr T Sliepp&rd Mrs J Uiid¢rw()od Mr R Thompson Mrs R Day Mr P Burge Mr D Perry Mr D CDnilcy Mrs C Skiiiner Mis R Amplil¢tt Mr P JDn£s Mrs J 118bb (Reelor & Cliaimi&nl (Abbey Mi5sioiicrl Ex ufficio Ineinber of911 comiiiitlee Ex officio In¢inber ofall ¢onimittees rx offiGiO tnenib¢rof all COlliTnill¢¢S Ex 01¢10 iiiciiibEr of ell eoiiimillees Ex 01¢10 member ofall toniinittees Fix o£YJciu meinb¢r of 911 coniniille¢s Standing, Buildi1$ Siaiidiiig) Bllildin& Finan¢¢ Personnel, D¢anerytr St8iiding, Fiiiance Building Deanciy Synod Deanery Syiiod Deaiiery Syiiod. Building Deaiicry Synod Si8nding, fi113nce FinEn¢e PersoDllcl (Abbey P&storl ICural (Vice Cliair) Icbuichivarden) aPPLiinied 25 May 2023 appointed 25 May 2023 ITr¢asurerl retired 25 May 2023 Finan¢e Buildfftgs appoinicd 25 May 2023 retired l Nov¢iiib¢r 2023 Personnel Finance appoiiited 25 May 2023 appointed 18 J&nuary 2024 retired 25 May 2023 retired 25 May 2023 retired 25 May 2023 reiired l Octobcr2023 Secretlry His Honour Andr¢iY RutherfDrd Elteloral Roll officer Mrs C Bragg '.xoeutive Director Mr r Mowllt
Ilfith Abbey Paroeliial Chiii'cli Coullcil -rru$t¢Qg' AnlliiAI Ilepoj'l (cojiliwiied) Yeai. 31 De¢embci' 2023 Tli¢ iiicnibcrs of'fhe P3rg¢liial Cl)Iir¢li Couijcil nfihe Ec¢lBsiasiicDI I)aris11 ofRaih AbbEy Ivjih Sl Janies. Balli Ilhe"PCC') prcsEni Ilieir report and Ilie finon£i81 SItell)ellIg of Ihe ch8rily (the 'Abbcy"I foT the year elided 31 t)ecemLKr 2023. The fiiiancial sial¢mcnl5 comply wllh ihe AbbBy'S governing do¢utnent (the Parochial Church Couiicils (Pors) Measure 1956 asameiidcd and Ihe Churcli Repttsenlalioii Rule5 20201 Ihe ChBritie5 Acl 2011 and have been pr¢par¢d in accordan¢e th¢ aocounling policies sei out in Ilic nute5 to tlie accoiinis., the requirements ofchurcli Accouiiliiig R¢gululiDns120061', th¢ Slaieni¢nl ofRecoiiiin¢iided Praciice oli Accouniiiig and IIcpoTiin8 by Chariiies ISOIU'I &ppli¢8bl¢ to Parocliial C.hur¢h Councils within Ihc Cliurcli of England: Ihe Financial Reporliiig Siandthrd applicable in Ihe UKllnd Republioof [land publishedon 16 July 2014 IfRS 1021. nd the Cliariiies (Accounts aiid R¢poftsl Regulations 2015 STRucfuiiL, GOVIRNANCE AND MANAGEIMII Constitution of the PCC Tlie PCC is a Corporale body estsblish¢d by the Churdi of England and opcrates under Ilie Parocliial Chiirch Council {Poir5) Measure 1956 as aTnEnded aiid th¢ ChuT¢h Il£preseniat¢on Rulcs 2020. 11ie PCC w&s regi51eied with the Charity Conimission willi ¢ffccl fro&n 4th F¢bruary 2010. Apporntment, induction #rtd training of trstee$ of the PCC Tlie llienibers ofili¢ PCC areelecled iii acLordance Nvitli Ilie Cliiirch R¥pregenlatioIi Rules 2020 al the Annual Parocliial Cliureh Meeliiig. Ivhich 15 geiierally lield dl Ilie Bnd ofmgy. aiid are IhB Charity Iruslees of Ilte Abbey in 8ccordanc¢ ¥vii11 se¢iion 177 of Ilie Charities Act 2011. O¢casionolly llieiiiber.4ofilie l?CC may be co-opted foraperiod ofolle year. M¢mbEts Dfilie clergy and churcliivardoiis are ex-Ole1 In¢mbets of the IICC. Iqelp atid faniiliarigalion is available lo Incmbers of the PCC Ihroiigli discu%sioiis with the Re¢iorand Churchwardens #buul the iole and rcspDnsibilili¢s ola PCC iiiember. In &ddiiiott. Ilie TTeasurei' providcs Iraining ui understaijding PCC tsccounts wl)ere necessary. Organi5alion of tlie PCC Tli¢ PCC gttn¢rally Ineets IllOAtlily ex¢¢pt during Aiigust and December. Meinbers oftlit PCC BTe usually involved in two 'AiYay Days, eHcli year ivli¢n Parish Siralegy is di%cussed. All of Ilie nienibers of the PCC give tlieir Itnie freely and ni¢mb¢r rc¢eived remunerBtion as a result iii the year. In order lo disdiarge ils duties, the PCC appDints a nunib¢r ofcomniittees ivliicli nieei oil a rcgulur bB51S. The cttl PCC ¢oiniiiiiiees are.. Siaiidingy finaiicc. Fooiprinl Pi'ojecl Tk)arJ. Mission %upwrl Group. Biiildings Bnd Personnel. The l)CC also einployssialTio illrry out varioiis fiinclions. llie lTr('.C lak¢s Ihis oppoithinily lo Ihaiik Ili¢employees ofthe Abbey ror ih¢ fine Jnanner in Nvliicli tliey rrOrI Ilieir duties Ihrou81ioiil IhB ycllr in sUPPOrt of the Abbey'5 lo witness 10 t ChristiaiJ failh Rliyays lo i)rovid¢ a iwhrm Rnd welcoiiiing tiivirollmenl 81 th¢ Abky. DelegAtion uf day-to-day Respon¥ibilities The PCC. ¢onsiders Ihllt ilie"Abk'y L¥ddcrship'l ellm" comprises the key m3nJg¢tll¢nl r$0e1 of the Abb¢y and that they rc in charg¢ ofriinniiig snd 0rlI178 Ili¢ AbbEy on a day-to-day basis. I'lie Abhey L¢ad¢rship T¢aTn nieels fortniglilly and con515ls of The Re¢iur. Abbey Missiojicr, Tlie Abbey paOr, both Churchwardens, Ili¢ Direcior of Music, th¢ r.xe¢utlVB Director. Facilities Manag¢r Iprevioiisly the Op¢raiions Manager), Ilead of Visiior EXrIence and Head of Finance. Related Pai'ties- Asso¢iated Cliai'ities 'lliere are foura5Ciated charitie4 iianicly.. Buth Abbey Charities Ireg. no. 2419021 Ivho8e ubject is the r¢li¢f of hardship and distre55 to r¢sid¢nis of Btih. Ix)Ih Cligrily for Ilie Upkeep and MaiDl¢nancB of ihe Abbey Cetneiery Ireg. llo. 243684), whi¢h is respoiisible for the niainienJllce of Balli Abb¢y CcIiiclery', Frieiids of Elalli AbbLy Ircg. no. 2050821 Ivhose object isto ISiSt Ilic PCC iocare for, adorn and preserve forp051erity Bath Abbey Music Society Ircg. rto. 11231181 Ivlioseobjeci is lo protnote music in BalhAbbey by providing fJnan¢ial SUPPDrt fortlie chotrs anil other niiisical acliviiics and equiplliellt. Tlicir activities are not incliided in these financial si&menlS. Th¢ PCC lias i tyholly oivii¢d trading subsidiDry Bath Abbey LinTrited Icompaiiy number 0781569618iid its activities lue iricluded in these finBnoig15ta*eni¢nis.
B#lli AlTrl)ty ParocliÉ#l C.hiir¢h Cfjuncil Tvustec5' Il¢i)orl ftoji1lwrti1j Yc#r ended 31 DoceTnber 2023 OIl.TicfIvLS AND ACTIVITILS or i' pcc The PCC co-operlltes willi the Rector in proinoling in the Pari511 the whole 718$10 ofih¢ Church pusioral. evgngelislic, social and ecumenical. Tli¢ PCC sees ihE Abb¥y's niission 85 ivilne55ing sI¢#drtlY lo Ilie Chrisliaii faith and proGlaiming Ilie gospel Ilirougli prDyeT aiid pr¢acliin& ihrough scivic¢ lo Ilie comiiiunily ofBaili aiid lo visitors 10 Ilic City, through SBrvicL' lo those i iieed b¢yoDd Ilie Lily of Ilaili throg cBr¥ful sl¢¥vai'J511ip ol'ilie Abbey's herita8¢ of excellentt iii ils ivorsliip and in its lake p#rt in the Ea5tcrExpL'ri¢ii ihN>iigli ils choir5. The PCC has¢onsidcrcd 8nd had Tegard io Ih¢Chgrity Comniission'5 guidaiice oli public bBncfii. Volunl¢Ers play avit91 role in IhE life ofthe Abbey. l?oughoUt th¢ week volunleeTS wel¢om¢ visitOJ5 and cong¥egalions, scrvc in tlie shopy arrangc floiver5, aSSI51 iviih Servi%, Ivork wilh childr¢n and young adults dnd Ting the Abbey bBlls. Tcams of volunic¢rs cout)I, record tnd overse¢ the banking ofihc Abb¢y's ¢5511 incotnB slreanis. More th811 200 p¢opl¢ ar¢ involved in the Abbey as aottve volunteers and we would like lo take this oppoituiiity lo Ihttnk Ih¢iii for tlieirvaluable contrlbution. SAFEGUARDING The PCC lias coniplied with the diity ulld¢r section 5 of Ili¢ Saf¢guardillg Clergy Discipline M¢asutt 2016 to have regard to 14ouse ofBishops Guidatice on safegiiarding children Bnd vulneiabl¢ adults. ACHIEVEMENTS AND PfkFORMANCE OF THE PCC Baili Abbey is first an(J foremost 8 living cliiir¢h- a place of worsliip for our coiigr¢g&lion and visiloys where you Can Come aiid alt¢iid a service. lislcn lo b¢auitful choral niiisic and wlieir you learn alx)Ul Ilie good ofJS. Tlie Abbey also siniullaneously s*rves several other rolLs iii¢liidiiig'. A focal point foi'civie ev¢iils sucli Bs Mdyor Makiiig 4nd Reniembtsnce Scyvices Avisilor attraclion and Culliiral herilogE Ireasui¢ enjoyed by hund'd$ ofihous8Dds of visiiors each ycgr A plac¢ wh¢i'e people fTvm the city of Bllth ind boyond Can 8aiher for evettls such gs ¢xhibilion5. ¢onc¢r15, t8lk5 and 8radiiaiioii ceremonies An o&sis for privale pr8yer &nd Stillness in Ihe wilre of a bustling city Over11)¢ last 5 yeaT& the Abbey h&£ bEen imptsded by oiir foolprinl Proje¢l. Ihe COVID-19 pRndertii¢ and tnore recently Ihc cosi-of living crisis. As ll Te5ulI w¢ saw g significant fall in visitor income, & frtll in volunteers. x rise in c05t5 and a sUItillg 5ignificllnl fall in our reserve In Marcli 2023 our Footprint Proj¢¢i conipleted, Gur new Discovery Centre op¢ntd and ive itnpletnenlcd a comprehensive Ilecovciy Pldn lvhicli looked lo irniisforiii tlie financial p¥rformanc¢ of the Abbey 10 ¢iisble tlie Abbey lo oiice again grow its reseiwes. We ale plcascd lo report tli81 the impl¢iiicn181ion of Ihe Abbcy's Recov¢ry Plan h&$ bcen a resounding 51ittess and below is a 5uiiiinary of ihe kcy a¢hi¢veinenls and perforillence of the PCC in 2023.. We collgboraled %Yiih Sl JohD's Foundation and th¢ llieAi in supporting the underservod primary schools of Bath. W¢ iv¢lcoined oveF365 cliildirn froin thege h0O19 lo IlieAbbey for ioiirs and workshops Qttd paid for coaches lo gel them lo and frojn iheir scliools. In 2024 we have expanded our support prOgn1c. We coiiiinued offering oiir LLarniiig Ceiilre lls.. l&) a c¢nire to learn EilIsh for Ukraiiiian Refuge¢¥ aiid Ibl for faillilies siruggliiig ivith lieatsng bills io conie into Ilie Abb¢y 10 5p¢nd tiine in u warm spgce to feel iYel¢trin¢ and lo be fed. We recruited a Youtli & families Millister. Melinda Welch. Ivlio is alre&dy mAking a positive ditYerenc¢ ruiilling our Sunday School group and vfirious Youth Clubs in thEAbbey. We stttrted & nwv Siind8y Serviee Ivhi¢h lias proven to be very popular.
Ilth Abboy P8rthehiAI Cliiii'eli c.ouncil Trust¢es' Anniial Ilcport (ClJljfiiiiie) Ycar cnd¢J 31 DtctTnbcr 2023 ACHif4.VEMLNTS ANI) PbRf4ORMANCL or THF. PCC continucd liijaniiary we JM)sled ali ¢xhihitioncillEd ThreadsTlirough Creation by J8cqui Parkinson aiexiilvartist ivhereseveral of licr hug¢ needleivork lapcslrie$ ivere on display. T1 exhibilioii proved to b¢ very popular with our visitors and Longrcgttiion gnd w¢ havc invited Ihein back ill 2026. We completed the 4-monili Tefurbishmeiil ofihe Abbey's KIlS Organ whleh lye could not have done wilhoul Ihe gen2TOUS %upporl of ali anonymous donor for ¥I1¢h we are exlreniely 8ral¢fiil. Elseivliere Ivithin our Musi¢ Depi oiir Clioirs glso record¢d 2 iYondErful LD.£ aiid iv¢ WEl¢omed Deivi Rees lo Ilic AbY a5 our neivA£51s1anl Organist. We puid our full year Parish Share payinenis ¢arly- by September2023. In MBrch we slwived SUPPDrt for lJkraine by hosting a concert on the first anniversllry of th¢ invasion of Uktaine by Russia. Ill Oclokr. l.uk¢ Jerratn s GAIA installed in the Abbey for8 Mionlli. Wc laiiiiched a piD£rmMe ofevenls called "Treasuring Creaiion'la mixof¢on¢¢rls. ialksand fDniily Bctivities all focused upon looki118afterourplallBtI. During this pcriod 1¢1is of Ihouwds of visitors came lo the Abbey and the piogrRmiiie ivss R h8¢ suceesg. W¢ ivclcomed 351,000 visitors (nearly 400,000 ifyou iiiclude graduations, concerts and shoppets carols) whicli %vgs virtually id¥nliclll to the previous year. The AY won 3 natioiial archiieclur&l alvards for Ilie works carried out during our Foolprtnt l)toject We lco]ned over 100 ni¢nib¢rs of iheAbbey family to celebFale HRrve51 Supper and Biitn8Nighi. W¢ celebrllted the King's Coronation in the Abbey iviih a conlert from our c11r8. 'llie lJiiiversily of Barh alld Norland Coll¢g¢ held Ih¢irgradualioiis in th¢ Abbey and the CharterTrust¢¢s ofihe City of BRth held tlieir aniiual Mayor MkIng ¢¢nIottY h¢re. W¢ ended the yE4ir Iviili & fvll cojiiplcmenl of staff wjd IiBviii8 ¢oinpl¢ted our Si8ff Enga8¢inenl Adiort Pl&n. llie A6b¢y remins very tnuch 81iv¢ aiid busllinE with visitors froni all over the iyorld. As we ¢niei' 2024, the Abb¢y is ni)iv ivell on lh¢ path io full retovery. We aye once again out%wd looking al eger to 51rengiheii our Cily mission ld lo bToad¢n aiid deepen Abbey prayer lsfe. In 2024 we llre focusing on"Tending" and wc have programmc of inilialives beiijg inipl¢mented through the y¢ar ivht¢h ivill increase botli our PSloral care gclivilies and our niiiiisiry Nyith children snd young adults. We would lik¢ 10 take this opportuiiity lo Ihank our le3lli ofivonderfiil volunfrers, especially our l)CC membBTS. chaplai114 Chlircliwardet clergy B% w¢ll our Staff. choirs aiid our ¢olleagiTes at Ilie Dioc¢5an Board of finllnce, for their Continued SUPPDrt throughout 2023.
Batli Abbty PAroeliiHI Church Couneil 'ri'u¥iees' AnnuAI Rcport (eoiJilNiierf) Year cndtd 31 Deccmber 2023 PCC PIAns foi. Future Periods In 2020 t1 Abbey uiiveiled it5 Mi55ion Action Plan which set tstst Ihc priorities forthe period 2020-2025 pursuing ourvision by focusing on ihe folloivin8 are85'. Thwksgiving Worsliiping & prayittg leaLhinB Tending Trai)sforniing TITllsurin8 GTowing 8% followers ofJcsus Caring as a chiir¢li family Pursuiiig justice and p¢ace ID 59ciety Stsslaining and renewinÈ ¢rtalion Irt 2024 w¢ will b¢ focu51ll8 our efforts lendin8. This will involve.. Developing iiit¢r8¢neration&l T¢laiionships ld nBW iniergcneralional %ervices D¢velopiThg Pastoral Sircams- Hospitsl and Hospi¢¢ visits, 14ome Conimunioi) visits, Psstoial Car¢ to young pcople wid farnilies IAbb¢y familie5 and choir f8111iliesl Reviewing Accessibility acro the Abb¢y wid o£fering a Nvider Mrlcome to visitors Supportiiig the liouscbound and developing DBmL'nlis care Strengiliciiing coiiimuTricativn and'TendiThg' llcross Abb¢y deparfaienls Specifi¢ pn)jecls in 2024 will incliide.. Collaborating iyilli BANES Cgr¢rs Cenire 111 Ihc setting up of a C*rer Café al B8ih Abbey and po8sibly Ber¢aveineiit CDfé t)eliv¢riiig DemEnlia Friends training sessions lo Abbey staff R¢vi¢wing 8iid itnpToving th¢ accessibilily of lh¢ Abbey Siarling up R neiv Abbey Klds and Abbey Cieche Group in January 2024 H051ing a City wide youili Eveiil in Sunimer 2024 Electoral Roll and AYerAge weckly attendance Tlic niiinber of persoiis oil lh¢ cl¢¢lor1 roll Hs ai 31 DenIber 2023 was 453, eonipared iyiih 456 al Ihc eiid of tlie previous yBtiT. The avcrage weekly BttEndsnce5 at service4 including visitors, duTing the year was 82012022- 3311.
BRth Abbey ParothiAI Chur£lL C.oun¢il Trstee5, Rcport (coiiiliiiittil) Year cnded 31 December 2023 FINANCIAL JILvir.Iv 2021 marked the wiiiplciion of oiir Footyriot ProjeLI. IhB QPB of the Abbcy's new Discovery C¢iiire and Ihc iniroduclion of an Admission Fee lu visitors. Eiitranc¢ 10 IhB Abbey r¢niains free for Ihose enlBring to worship. pAy or liglit a candlc as well gs for locul r¥sidenl5. nie tJlrodu¢iiort ofihe Admi$8ion fee ha5 bBen 8 Success and has iransfortned tlic finan¢¢s of Ilie AbbEy. Exndire has ¢oiiliniiEd to exceed inconic (by £41 Ikl. Flowev¢r. this iiicludes expeiidltu froin resiricled funds tor wl)icli money ligs been raised in previous year& tnvsl notably for Footprint and Ilie ref1'bIShinenI ofouT Klais oigan. Perhaps a beiicr indicDlor ofih¢ finaiicigl p¢rf0I5tiantE of the Abbcy is Ihc exlciil lo ivliich Ili¢ balance on the Geiieral fuiid liad Ehanged in Ihe course ofihe year. Tlie General Fulld is Ihe nioncy avHilDble to th¢ Abbey lo &pend on ils nornial s¢iivilics llnd excludes luiids raised. or pul aside. for speeific pu4)oses. llie balanc¢ on tlie Genetal bund incr¢ased froni £257k 81 the end Of De¢¢mbBr 2022 to f364k ai Ili¢ cnd of Deceniber 2023, kn increase of £107k.'l o have generated a siirplus on the GeiTreral fund iii 2023 is a draiiiatic tuni around froni D deficit on the Cjeneral Fund of£103k in 2022. Thai prioryear defi¢ii would liave been Inuch a% £355k ilihc Abbey liHd paid parisli slihre io 2022 al ihe saiiie l¢v¢S as il htss paid in 2023. 511 eff¢ci a true deficit of over £350k ha5 been lurned into a surpltr8 of tsv¢r £IOOk. 'rhe foundaltoii for this Ironsfonnalioii has been that all of the Abb¢y's income slreams performed iv¢ll in 2023. Visitor Income increascd by 7WA from £0.87in for 2022. 10 d record level of £1.55m in 2023 despite slighily feiver pllyillg visitors. Planned Oiving alsty perforined %v¢ll, Ivhcre the congregalioii donaicd £244k to the Churcli ivl)i¢li w85 29Yo up on the previous yeor. I'he shop4lw had a r¥cordye&r for591¢s whith reciclied £435k. F.I'ctils Inconie Iihis is incoiii¢ iiiainly from graduatiot fjlming & concei'lsl also liad a JEcord year. Ov¢rall, IhE Abbey's ujjrcslriclcd iliCOmL has risell iii 2023 by 59%. The Abbey's tsnre51ricled costs liavc increased by 35%. The Iraiisforniaiion ufincome has alloivttd Ihe Abbey lo pay il% Parish Sliarc of £282k iii full aiid 10 siAII'a pay increasc in Sgplember 2024. Exolu(liiig ljarisli Sh&re the Abb¢ys ufjresliicled co81s hdve iiicreascd by 22%. 1'lii5 incliides a provisional ttlloiyaiice for a hilh¢rio Unk[}vil liHbility tgr unpsi(l Ttnl lo Bath & Nortli E&41 Soiri¢rs¢i Coiincil for the vaiilis vf Abbcy ChnIbel.% for th¢ periud from Nov¢mb¢r 2016. We expect to hav¢ clarified Ihe posilioii llijd lo have pHid iliE suin due duri118 th¢ firsi hdlf of 2024. Overall, Ivc are plcdsed Ihst Ilie Foolpriiii Proj¥¢i lills beeii %u¢¢essfiilly complBled and we iiow have a busy Abbey very miich aliv¢ and Ilii'iving. Oui. finaiiccs al'e noiv more slabl¢ aiid predi¢i*ble, and our focus now 1$ to ieplenish our reserves so Ihal we Yill be lldequalely proiethd fJY)m any future sliocks. We woiild like to lake IIEIS opporliinity to tliaiik th¢ PCC oiir leDni ofci¢rgy for Iheir wisdoin aiid guidan¢c ld for being both IEsilt¢nt aiid brave over receiity¢ars in $upwrting Ilie iiilr()du¢lioii ofihe Admission fee proposal. We ivould also likc to Ihaiik oiir faiitsstic le17 of slatr. volunteErs Rnd chaplaiii% ivho hove done oulslanding job ofimplernenting our R¢coYery progrllTnnie Ilirouglioiii 2023..
Batli Abbey fai'D¢lii41 C.liiircli C.oun¢il Ti'u51ces' Rcporl (coiiliiiiiyd) Year end¢d 31 1)ctemb¢r2023 riixci] Assets TlJ¢ curreijt vuliie of th¢ Abtw's frEehold properties is believed to be considerably in ex¢¢ss ofthe bDok vali1¢ of£139.791: thc PCC does not COn5idertlial a revllliialion ss n¢cessary tti prcseiit bul is kceping the sitlllltion under regular Feyiew. Ileserves PollLy Baili At>bey reqiiiTCg Unr¢51ricled Furtds lo carry oul lig mission, logetlier %¥ilh the upkeep of lis building5. For Ilie Purpose or il% Reserves Policy, Bath Abbey Lottsidcrs Unreslriclcd Fiiiid5 to be cash and inveslnienls availabl¢ lo finanC¢til¢r3l RcliviliLS, clllculalcd ncl of afty borroiying iliat is repayablc iii Ihe ¢oiiiing 12 moiilhs1£50k vfihc £30Qk 108ll froni Ihe Diocese of Slath and Wells isrepayable iii 20241. fundswhicli are unreslriElcd. bul which Bre d¢signaled foTsp¢¢ific purposes, are &lso ekcludEd. The required level ofres¢rv¢s i5 dEtcrmined with refeTenc¢ lo Baili Abbey's 2024 budgeL a longer lerm budgei aiid Bgih Abbey's risk regisi¢r. Batli Abbey'$ Reserve5 Sx)licy reqiiires B3thAbbey to liold sufficiEnl Unrcmricted Fund8 for working crtpiial requiretnents, the perceived risk lo tlaih Abbey's inconie 8nd iiiifor¢s¢en costs which nii8ht arise. Using this calculation, Bfjih Abb¢y's minimum level ofreserves should b¢ £958k. Ithsch represents eirca 5 month5 ofplawJ¢d unresiricl¢d expenditure. Unrcslricled Fund$ Ivould not be expccl¢d to exceed a level of 9 months of planned unrtslricted expenditur¢. At year Clld Balli Abbey held £596k0funTerlCI¢d Funds a5 ai 31st D¢ceniber2023. niis equsies lo 2.8 nionth5 ofplaiined nrerICt¢d ¢Xnditl[e. Baili Abbey ha% n longer l¢rin budget ivliicli ¢iivisages SLirpliis&% over ihc 5 ycars 2024 10 2028. Acliieveiiienl of Ihal budget shoiild eiMble BllthAbY to repay thc dddiliongl £250k borrow¢d froni th¢ Diocese aiid lo build serVeS to a levcl of 5 Inoni115 of planned unreslricled expenditur¢. The tx)ssibl¢ benefit froni legacies in the coming yw5 will be in1portl 10 Balh Abbry fi]IfJlling Ils Diission Elongside the renewal of ils re5¢Nes and the remedial swrk reqiiired a r¢5uliofihe rttent quinqiiBnnial r¢viewof thE fabri¢ofBgihAbbey. Investment Policy Bfjih Abb¢y does not hold gignificanl long-ILmi funds. 11 is neverih¢less imporfartl Ihal BaihAbbey adopts a c&uliou8, prudenL d eihical approacli to inveslmcnls aiid deposi15. C.8sli bDlances1£777kl should be covered by ili¢ FCSC deposit giiaraiitee scheme or, if in ¢xc¢ss of £85k, slioiild be dcposiied wllli 8n inslitulion ¥Yhicli liold$ credit rating of #i least single A or equivalent. C8sli b818nies wliidi are nol requ¢r¢d for day-lu-(kny operation should be placed in iiilcrest bellring accounts. Tlie one long-ierni cnth)iviiient ivhicli BalliAbbBy does hold1£151kl is inv¢sled 511 IhE CBF Cliui'ch ofEllgland Tnvestment ruiid, 8clively Tnandg¢d by LCLA. Tliis LCLA fund is compliglit Iviih Ihc policies of the Chiircli of Lngland'g Elliical InvestmentAdvi80ry Groupy The Head of Finallce tnolliiors the c85h tx)silion and cash floiv projections artd rerrt)rts to the Fittance Committee at each tneeting. Ali reviewof compliBiice iyilh Balh AbbEy'S Inv¢8tm¢nt Policy is pY¢senled ID the pcc forthe Bssurancc of th¢ trusteEs. Pay Poliey Tlie Abbey is coinlliilted 10 payiiig gjl staff 01 least th¢ Natio[1 Living we. SIDff pay is also y¢8ularly revicwed land ben¢hmark¢d ag&in51 pay in other similar organiElltionsl by the Abbey's Personnel Coiiimittee. In Sept¢inbEr2023 $11 Abb¢y st&ffrectiveda pay 8w&rdof bctwccn 5tsAllnd io%iihosewhD received l(Whare poidlhcNation&l Living Wage orthcir pay is linke(I to the Nlllional Living W88¢1.
lJ#th Abbey PRiy>¢hial Church C.oun¢il Tru$tet%' AniiuAI RoTroi'l (coiiillltithl) Year ellded 31 DeL'cmber2023 Pi'incipal Risk5 UMcei't#intlC5 Tli¢ PCC has reviewed IIIL. risks faciiig tli¢ Abbey ilstradin8eompony ld consid¢rs Ihe niosl significanito be Ihose sholvo Risk l.oi¥ cash re5erve%. Diie lo the pandeinic and Foolprinl Project costs Ilie Abbey's uiire8lri¢ied cash reserv¢5 are bElow our niiniintsm Ihi'eshold level of5 nTronlhs' expcndilure. Our unresli'icied cas11 ss at 31.12.23 is nellrer 10 2.5 rnonilis. of expenditure. nts A RLcov£ry Pl311 i¥a% iniplemcnled iii 2023 aTid PFofilllble Ir&dii)g li&% ¢iisiicd. In 2024 we arc forecasting D nel surplus of£200k+ this is expccied ID conlinue each year. We expect lo be ablc 10 tEpleni5h our OliY¢Slricled reserves villiiii 5 ycar%. We closely track casli and monllily erforitian¢e. Throughout 2023 the Abbey has reviB%ved saf¢guar4iiig Ptocedures and hgv¢ made imPToveni¢llls. We are taking muEh firmer lili¢ oil safcgiiarding procediires and ideiilifying bRaches'. CO Irainittg is noiv compulsory for Safeguardin8. ProtecljiJ8 childtrn, young peoplc and viilnerable adults from liarni, abe 4nd nc8lccl. All Sl&ff aiid volunl¢cts al Ilie Abbey need lo bc Bw8r¢ or Ilie rssks., iieed ID knolv whal lu do if Ihey havc concerns., D¢ed lo Irnplenllt and folloiv robllsily safeguarding protedures. We have B robust sysl#tn to ensuTe cliecks are ¢llrried out re iieiv recruiis. W¢ 41tt ull noiv iiiorc vigilant re followiiigl implcmenling safegugrdiiiÉ piocLdiiies. Musi¢ Dcpi safegiillrding prgelices have albo beeii rvi¢ived and 118hieiied up. Possibilily of anotlier pandcniic. 1kne Abbey isover-JElianl on a single incoiii¢ slreani- Visitor Iiicomo. I'his income could possibly Slop if ive went ill aiioiher lockdown. We are a¢livEIy 5eekiiig oui uihei income slr¢ams'. Filniing Yenue income, Lega¢ie5 Income. Planned Giving, orporat¢ l Aivards dinneiE veJiu¢. Thc&ttc venu¢ & Graduation venue. In 2023 r.venls IncDnie is estimaled 10 be £200k gross. W¥ lllso need to groiv our iinre51ricled cash rc5eive5 10 £850k-£lni iii ordeT lo build I'esilieii¢e. We llre stsrti118 to build reseTves in 2023. The Abbey Hnd COE is geeiiig & declinc iii 115 congiegaiioii. Ntttional issue- reiiilDrttd by latest CLNSUS dai&. With ihe coinplelion of our Di5cDveiy Cciiire our Leuning Centrc l Learniiig Otriccr & Youtli & Familie5 Minister will maiiiiaiTI And gi1V this 5cgm¥iil of the congr¢8alio tlirou8Ji sclioolg, cknir4 bring a fri¢nd.
Bath Abbey Pfii'ochial ClJuilb Council 'rrusl¢¢s¥ nUal Ilepurl YtHr endtd 31 D¢coinbcr 2023 riundi'Aising In Mllrch 2023 Ilic Abbey tnoved froim a policy of siigbresiiii8 to visilor5 thal they Inay Ivish 10 mak¢ a £5 donalion lo cli8igllig an Admission Fte of£6.50, 1.his major policy ¢hangc hds t¢1) well receivcd by all 8nd OUT V15iior numbeTS hdve li¢ld up thToiighoul Ili¢ W1e year. Colle¢lions are reteiv¢d iii mwy of the services thatare held in the Abbey, howevertliese continue lo be lowerthan in pr¢vious years, which ive attribuie ro th¢ cost of living crisis. Tlirouglioul OciolKr ¢acli year oiir sctmon5 focus upon stcwardsliip> ciicouraging people lo ihink about ho%v Ih£y coiil(l iise Iheir iinie, talents &nd rnoiity lo %iipporl the Abbey's Missioii Action Plaii. We are pleased lo IEp)rt Ilial Planii¢d Qiving in 111¢ Abb¥y in 2023 was 290/1 up on Ili¢ previous ye4[ l¥vhi¢li w8s 14% lip on the yeJr bcfore). This Ireiid comparcs favour&bly to PIanid Giving naiioiial trends. The Abky nIane$ ilsown fiindr&isiiig activities and cmploy5 lln exrIenC¢d Developmenl OlCert0 roise the fund5 requiTcd for 5peGifiL ¢apiial projects sucli the foolpriiil 1)rvje¢i. In 2023, lls Ivr Lonipleled the fooiprinl Pi'ojecl oiir Devclopmenl Offic¢r y¢covered from a loiig ix)ul of illiie58 and sp¢iit lier tiJ]]E updaiing and coinniuttic&liJJg with our loyal doiiorsRnd sLartLxI lo plaft for fiindiaising fDiour next Sel of cllpilal project%. The Abbey lakes all conipl&inls serioiisly and Ih81 ivould certainly include atty aboDt ndrlsllg. Duriiig Ihe yBai no such omplaiiils ivere rec#ived. Tlie Abky ainis 10 achieve besl pracliEc iii Ilie ivay il conimiiiiicates willi parishioncrs, donors and other support¢rs 18king cHre over Ihc lone of ils commiini¢alions and the ac¢ura¢y of the daia Ilial il hold4 to iiiiniinise Diiy iinfair ptessure on Ilic people it conlDcts. The Abbey also slriY¢s protect any data it holds, nBvBr sells or sivaps it wilh other orgaiii¥alions and ellsures Ihai conimunicalion prcfer¢iices of individuals aiid organigAlions can be chRnged ai any tillic. SI'ATIMINT OF Rf.SPONSlBILI'I'ILS OF TIIE I'IIUSTCIS Tlie niembcrs of Ilie IJCC. ll5 111¢ charity trustees. arc r¢gponsible for preparing the PCC'S Trustees, Annual Report 8nd the riiiancial siaieniciits in accorda11 ivilh applicllble l&1¥ aiid r¢gu121ions and Uiiited Kingdom A£1}tIng Standards {Uniled Kingdom G¢nerally A¢¢epled Accounting Pr¢iieel. Thelgiv appli¢ablc lo cliarities in England and W8le5 lI11r¢S the Ineniber5 of Ihe PCC lo preparo fiiiJnciol stlltcni¢nls foreach r¢iiaiiei81 yew- Ivlii¢h give 8 Irlle aiid fair vi¢iYof ilie %lalc Df Atrairs of the Abb¢y aiid ofilie inconiing rwurces aiid applicatio of resources of Ilie Abbey for Ihal period. Iii PlEpttring tliese finaiicial $ial¢nieiits, the memb¢rs ol'lhe PCC Are required to,. select suiiabl¢ accounting policies aiid then &pply Ihem ¢oiisistenily'. iiiake jiidgcin¢1115 and accounlingesiiinales Ihat are ieasonable and PTtsdeni' prepare the fiiiancial siaieiiieiils on Ilie going concern b&sis unl¢ss il is iiiappropriaie lo presume th#1 Ihe Abbey will contin1 in opcrglion. The nieinbLrs ofihe PCC ale respoiisibl¢ for kccping proper accoiinting rerdE that disclose ivith reD50nllbl¢ Hccuracy at 2011. tlie Charity IAccouii15 gnd Report51 Re8ulati011s 2008 hftd Ili¢ provision5 0(Ihc Abbey's c0111111110nl docuniynls. Tliey gre also respoiisible foi. safeguarding the a55e15 Dr Ihe Abbey and licIic¢ for tDking reasoiiable steps fur ih¢ pr¢veiilioii und d¢lection offraud and other irregularilie& Signed oil b¢hlllf of the Trustees The Rcveiriid Cunon Guy Bridg¢w&ter ReclOT of Balli Abbey Dale..
Bath Abbey P4rorhiRI Lhiij'ch C_thwhcil Indepciidcrjt Audilor's Ilepoi'l to tljo Membeis of ll211J Abbey ParocliiAI Church C¢buneil V¢aJ' ended 31 Drccijjber 2023 OVINIOiY We have hudited the financial SlulenienlsofBallJ Abky PRrochial Church Council Iihc'charity'l and its siibsidittrylihe'CFroup'l fur the year ciidcd 31 Dcccinber 2023 ivhicli coiiipri£e Ili¢ Coiiyoliddlcd Stsiemeiit of fiiiancial Aclivilies, Ilie Cons01i(laled B41gnc¢ Shcci. Ilic Chyrily Balan¢e Sheet, the Consvlidaied Sialenieiil of Cash l-.luiYs llnd Ihe ielaled nol¢s, in¢liidiTrg suinmary of 5igiiific8ni aicounliiig policies. Tlie finnncial reTK)rling fraineNYork Ihal hag be¢ii applied in their prepai'alioii is applicable law and Ujiiicd Kingdoni Accuiinliiig SI17drds, iiiLli1dii findnciBI Reporling Sifind-0 102 '1-lie Fiiiaii¢ial Reporting SlaiidiTd applicable iii Ili¢ UK uiid Republic of Ireland, (Ulliled Kingdoiii Gen¥rally Accepted Accountitig PraLlice}. In our opinion the fanCial Slalements.. give a tru¢ and fair Yiew ofthe slatc of ihE Group's aDd tli¢ Charity's lltTgirs 25 at 31 D¢cember 2023 )d of th¢ Group's incomtn8 resour¢e5 and appli¢Rlion of resour¢¢4 includiiig ILS income and cxpendittiTe for Ilie year then liave been prOl.]Y prepared in attordBnce witli United KingdDm Geiierally A¢cepied Ac¢ounting Pra¢li¢*,' and have been prepared in accordanc¢ with ilie requirejnenls ofihe Charities Acl 2011 BASIS fiOII OPINION We condu¢t¢d our aiidil in accordaiice willi lTrternalioiial Slandards Un Aiiditing IUKI IISAS IUKII and applie8bl¢ laiv. Our responsibililies under ihose standards aTe rther d¢s¢rib¢d in the Auditors. re5ponsibiliii¢s for Ihe audit of th¢ firtan¢i&l sialcm¢iiisseclion of our r¢pori. Wc are indep¢iidcnl ofihe Group iii accoi'dancv iyiili the ethical requir¢iiicnis that are relevaiit 10 OIIT audit of Ilie fiiigiicial slalctnenls in th¢ Uniied Kiiigdom, incliidiiig Ili¢ Fiiiancial Reporting Countyil's Eihical Siaiidard, v¢ hav¢ obiained is su1cle111 aiid dPPFopriale lo provide a bllsis for ourgpiiiion. CONCLIISIONS RF.LATING'fo GOING CONCfliN Iii auditing tlic finaiicial slal¢iiiciiis we have con¢ludcd that the nienibers, use of Ihe gtsing concem ba515 of accounling in the preparalioii of the fiiiancial Sldlemeiits S appropriate. Ilased ots Ihe iyork we have porformed. Ive have iiol ideniified material unceriaintie5 relating to events or condiiions tliat, iiidividually or collectivcly. niay cast significaiil doubt on the Group OT Charity's abilily to eonlinue as a going concern for a period of at1¢gst Iw¢lvc tnDnihs from ivli¢n the financial %lal¢iii¢iiis arc Auilivi-ised for issu¢. Our respunsibililie5 and ihc respot15ibililiesgf Ilic iiiellibers with re5p¢cI lo going concern gre describ in ihe releviu]tseciions of Itus rEPOrt. OTHER INfiORMA'I'ION I'he ]nembEr£ are responsible foi'the oth¢r infomiation. Iheotheriiilonnaiion eompriseslhe infonnaiion included theAnUa] Report, other IhHn the finDncial slatemenis ond olli. Aiidilors, Rtport iliereon. Qur opiiiion on Ihe fnCial slal¢iii¢nls docs not ¢ov¢r Ihe oilier information ), cxcepl lo Ihc exlenl 0lli¢ThYise expliciily staled in our reporl, we do not ¢xpress any lortn of assuJIre conclusioii Ihcreon. Iii connection with oui. audit of the financial.£lBl¢nienis, our Te5ponsibility 1% lo rcad th£ other iiifoiiiialion and, in doing so, Consider wheihei. th¢ other infonnalion i% maicrially inconstsleiil ivilli Ihe financial st&lenients gr our knowlvdge obtBined ill Iiiissiaienienl of the Dllier iiiforinalioii. If, bas¢d on Ihe ivork ive have p¢rforin¢d. lye conclude that there is a mllteri81 nii551&teiiicnl ofihis oilicr informlllion, w¢ are tLiJuited lo report Ihai fact. W¢ have nothing lo report in ihis regard. 10-
BAllI Abboy PRI'ochial Churtli C.ollncil Independent Audilor'% Roporl to tlic membe olBalh Abbey PAroeh¥AI C.liuJrh Countffil (coitsjitiiedj Year cndtd 31 Doeeinbcr 2023 MAT'FLIIS ON WHICH WC ARE IILQUIRF.D TO Rf.I'OllT Ill, L4 XCFPTION n the liglil ofour kiioi¥ledgE underslandiiig gfilie tiroup nnd Cliarily and i15 envitoninenl obtained in the coiiiy of tlie audit, we hdve nol ideiitifled maleiial nii5siaieinents in the Annual Ilcwrt. We htve noihiiig to report in re&pe¢i of ilic following llittttcts in Tclalion lo Ivliich we to rcpofl to you if, in our opinion.. tli¢ Cligrity has iiDI kept adequate and suffirieiit accountiiig record& or returns ad¢qugte for oiir audii li&v¢ not been rcceiv¢d froiii branclies not visil¢d by us. or Ihe Cliarity f111811cidl sialeinciii% ar¢ nol in agrL'cmcnl with tli¢ accounliiig records and retsrn5: or ve have not received all the iiiform81ion and cxplaiialioiis we require forour audit., or Rf,SPONSIIIILI'I'IES or MCMIIEIIS A5 explained Inore llY 2n the nienib¢r'5 responsibilities siaiemeiil, tli¢ menibcis are rcspoii£ible for ihe ppal'atIOn of Ihc rinancial siicni¢iils w)d for being salisfi¢d that Iliey give a triie and fail. vieiv, for ¥iicli inl¢mg1 control as Ili¢ Inenib¢r5 deicrmitte is iiecessBry lo enable the prep&rnlion of financial sl4l¢men15 thal Rre ltte from literial MisateMeI, whether dtte to fraiid orerror. In preparing Ihe f1naii¢ial %latenient5, the member59r¢ reswnsible loT$t$S1n8 th¢ Group'5and Ihe Charity'58bility toeoniinu¢ Hs a gving ¢oiiceni, disclosing. as applicable, iiialler5 rclatcd 10 going coiicern using Ili¢ going concern basisof accounting unle55 th Ineiiib¢rs eitli¢i iiilend to liquidal¢ Ibe Group or ilic Ch&rily or lo ceJse operation5. or have no rcalisiic all¢riiglive bul lo do so. AUDI'I'ORS, RESPONSIIIILI'I'ILS FOR TIIE AUDI'I. OF T14E fiINANCIAL sfATF.Mfi.NTS Our obj¢clive5 aiE lo obtain r¢asonable gS511TÈnce about wh¢th¢r Ilie finan¢i&l sialcni¢Dts 85 9 wliolt are fr¢¢ from tnglerial misslalcmciit, whether due to fraiid or error, and lo issiie an Aiidilors. Report that includ¢5 our opinion. Reasonable is a high Icvel of assiirattcc, but is not a gDaranie¢ Ihal ali Biidil coiidu¢ied in accoi'dance %Yitli ISAS IUKI will alivuys delcct a maleiisl niiss1llteeI Nyhen il exists. Missiaieimenls call arise frotn fTaiid or emir 8IE considcr¢d niatei'ial if, individiilly or in Ihe aggregate, they could rea50119bly be eX¢ted 10 intlii¢nw Ilie econotnic dcci5ions of users lakeii on Ili¢ basis of Ihesc rinancial sial¢m¢nts. ltsegularilies, iiicluding fraud, are instsnce% of non-¢onipliancc with 18Ivs aiid rcgulaiions. We dEsign pioccdiires in line with our S)n81bilil1¢S, outlined above, 10 dciecl Inalerigl niisslalciiiciils in r¢spect of irregiilariti¢s, inclllding frau(5. Idtntifyin% and SsesSIn¥ pottnttl risks related to iri'cgulri¢ios The extEni io which our procedures llre tapable ofdetectillg iiTeEulaTilte% including fi&iid is dclailcd below.. We liave wnsidered ihe naitir¢ ofthe sector, control environinenl and finon¢ial perforiii8nce', We Iwv¢ considered the results of eiiqiiirie5 Nviili nianag¢iiient 8nd rnembers iii Irlglioii lo thBir own id¢ntificBlion nd assessiii¢nl of Ihe risk of irr¢gularili¢s iviihin the enlily. and We liave reviemrd Ihe do¢unienlalion of key processes aiid cootrols and pcrfomie(S walktluDughs ofiran8a¢tioiis lo confirni Ihal ihc 5yStcnis are optrciling in liiie with documentalioii. rorany mtiiers id¢ntifiedwe hsveobiain¢d and TeviBived the Group'sdocumenlttlion ofi1i¢ir policies and ptocedures lating lo.. identifying¥ evaluating, And complying with IBWS and gUlatIonS whether Ilicy wer¢ gWHTe of llrty iiisIRnc¢s ofnoii-¢ompliaThce: dBieciing aiio respondiiig to Ili¢ risk of fraud gnd whether they liave knowledge of a¢lual, Suspected, or allcg¢d fraud,. aiid the iiii¢riial ¢onliDls cslablished lo mi1188le the rSk$ of fraud or non-roTrpliance ivitli laws and regulaliuns. Iv¢ liave coiisidetcd the mall¢rs discussed Diiiun¥ Ili¢ audit ¢iigagemBnt team r¢8arding liow and tre fraud might octur in the financigl slateClS and polcnlial iiidicators of frnud.
114th Abbey P2rocliiAI Chiii'cli Counckl lJid¢p¢nJcnt Audilor s Rcpui'l tD Iht ML'mbcr5 of Bath Abbey PRroehial Chuiyh CDuntil (COAJilrtlieil) YeRr endod 31 De¢tbe1. 2023 As a result of Ih¢s¢ Procedures, Ive bavc congidBred the opporluiiilies and incentives Iliat iiiay exist viiihin the org811]tIon for fraud i(l¢nlified Ilie highest 8rea ofTi$k lo be in relation to revenue recogiiiliot], willi a pariicdlar risk in relalioii lo year- eiid ciil vIf. In coinnion ivilh all &iidilS under ISA% IIIKI we HTe Rlso reqiiired lo purfotm specifjc procedures 10 respDnd lo the risk of niaiiag¢iiieiil uv¢triik. We liave a150 obtained underslandiiigofihe legal and r¢gtslaiory fTameivorkstlig1 th¢ Groiip OPBfdtes in, focu811 oil provigions $18leineii15. The kvy IS llnd regulaiioiis ivL' Eonsidered in Iliis wnlcxl included the Charities Act 2011. CIIBTity SORP 2019, FRS 102 and ilie leinis and conditions lltlacliing lo Inalcrial giants received by Ili¢ Charily. In addition, we wnsideTed the provisioiis of oiher l&%Ys aiid r¢gulalions that do not bave a direct etrect on ihe fiiian¢ial slaleineiils bul compliance Ivilli ithich niay bB fund&iii¢iilal 10 Ihc Groiip's Bbility lo Trperaie oravoid a mgl¢rsal pejalry. These includcd ddla proleclioii regulations, heDlih and safciy re8iilalion5 ld ¢mployJn¢ni legislation. Our procedures to Tespond to risk5 idejilified included th¢ folloi¥in8'. Reviewing the fJnllnciBI slatem¢iii disclosiiTes 811d tesltiig to SUPFK)rting documentation lo ssesg Compliat) iviih provisions of relevant 18Iv% aiid rcgiilaiivns de5cri6ed as liaving a direcl etyecl oil Ili¢ finaniial sknlcnieiit Performillg dnalytical procedures lo identify nUSUal or UtteXpeed reialionships Ilial may irtdicale risk5 Of iiialerial Inissiaiement due to fraud., R¢vieiYing board iii¢¢l¢ng Ininiiies. I'erforJningd¢l4iled iilln5Dcli(>nal testing in relation lo the recognition DfTevenue. sp¢cifically granis, with &pllrticular focus aroiitsd year-end cul off. aiid In gddressing Ili¢ riskof fi'llud Ilirough nianagctncnloveiTide of conlroly, lesliIigthc approprialene55 ofjoiitnal entries nd ollicradjiisitnenls,. assessing ivheih¥r Ilie judgnienls iiiade in acLoiinling estiiiiales #r¢ lildilive of potential bias. and Evuiualing t1 business niiionale of sigwfjcanl Irart¥actiOn5 that uiiusual or OU15ide the nornial course of buslllC5S. We also commuKi¢aled identified laws and Tcguldlions poleni¢&l fr&ud risks to all Men)r$ ofihE cngagenient lewn and r¢main¢d alErt to possible indicators orrrttud or non.compliance with and r¢8ulalions thToiighoul th¢ audit. rinaii¢ial 8l#icmeiits or noii-coinpl1an ivitli regulation, ¥vill bc detected by lis. Tli¢ risk inrtcJse5 the fuitli¢r rcnioved less likely lo be awar¢ of it, DT should the irr¢8ularily Dccuf BS g Irsull olfraud railier Ilwi g otte ofT¢rrui. us Iliis iii&y involve intentional ¢onc¢alm¢ni. forgery, collusion. omission or niisrepres¢nllion. A furtliei. de5criptton of our Tespon5ibililies for the aiidil of the finanoial siaieniertls is hcated on Ilie Fin&n¢iAI Reporling Council's websiie ai.. lvww.frc.org.uk18udilorsgpunsIb1IItle$. This descrlpiion fottns part of our Aildilo, Rewrt. 12
Ilath Abbey ParnchiRI Chur¢h C¢>vncil Indepen(leMt Aiidiloj 5 RcDorl to Ihc Mtmb¢rs uf Illli Abbcy PAro£liial Cliiij'th Council (coiJlilJltg41J Ytar tndtd 31 Deco]nber2023 usr or OUR REPORT Thi5 report is niade solely io the iiicmbers, as a bDdy. in t¢cordaii¢e with s11017 144 of ihe Chriiics Act 2011 rcgulaiions we are reqiiired ID Slule lo Ili¢iii ill Audilors, Ilcpori for no otlici. purpose.'lo Ihe fiill¢si exleiit pernlti¢d by law, wc do not Jccepl or a55111ne iL'sponyibilily lo anyone other Ihifft ili¢ Inctiib¢r5. as a body? for OUT aiidil ivork. for this port, or for the opinions iv¢ l)ave fornied. Chi'isTJ'antlJam fcA (StlOr Si*iutoiYAul1Or) for and on belialf or Bisliop I,'leming l.LP ClidTi¢r¢d Account15 Stllliilury Aiidiiors 10 Tcinple Back BSI 6FI. Date.. 19 May 2024 Bishop FlcmiJ)g LLP i5 eligible 10 act as aa auditor in tertns of se¢iion 1212 of the Companies A¢t 2006 13_
Illll) Abbcy PrClIEI Church Countil cons01idatC4] Slatemeiil of finxneiHI Activiti¢$ Yeir en(led JI DcL'cmbor 21b23 2022 2023 R¢slrict¢d IreclRssifiedl Unre51ricled ruiid5 Endoivinent fuiid Total fuiids Totsl funds Note Jncome CwMcnt5 602.132 1,406,041 677,538 14,OB7 384,066 986,198 1,4116,041 688.¥20 18,230 1,600,918 187,494 569,736 8,841 112¥2 4,143 Invcslnicnl inconie Tot#1 in¢vJne 2.699,798 399,491 3,099,2119 2,366,989 I xpenditur Expetidiiun. on raising fund5: Cos15 of raising dongtioiis slid l¢gaci Costs ofoih¢r Irdding {243.7351 1403.5511 14U3,5511 {372.6581 Expenditure on cliar&lBbl¢ 9,10 12,024,765) 12.428,3161 11.095,2761 {3,120,0411 (2.006,8141 I'OIRI expcnditure 11,095,276) 13,523.f921 12,623,207) Nei 8&inlI055C5I on invesinienl5 12 13.035 13,035 Net txpenditurc ntl movemet in fund5 271,482 1695.7851 13.035 1411,2fi81 (274,7031 Reton¢iliKtIDll offund5 'rol31 funds broiighl forward 342,567 2.859.773 138,544 3,340,884 3.615.587 Tot*1 furtds £RI'ried forwRI'd 614,049 2,163.988 151,579 2,929,616 3,340,884 Tli¢ slal¢iiieiil orrin&n¢iAI sctivities iiicludes all 8ains and losses recognised iii Ihc year. All inconie and expBndiknre deriv¢ from coniiniiing activiliES. Tlie iiole8 on 18 to 39 forjn p1.1 oltlJ¢se fiNAntial 51Htemenl5. 14-
11gtli Abbey P#roclii41 c.hurch Count51 Con501id#led SIAlement of r41thaclal Positio 31 D¢ceJiJbcr 2023 2023 2022 Note Intllngibl¢ ass¢ts 18ngible fixcd assets 1nvesilillts 17 2,212,723 1$1,$79 2.227,746 138,544 2 J64J03 2,366.291 crrertt assets Stocks Dcbiors CHsh al bank and in hllnd 20A 21 112.399 548,123 777,f66 57,025 304,922 1,188.625 .550,572 1,438,088 Creditory: Amounts fRlling dut iyilliin year 22R 1622,7751 {275,9791 NEt current Assels 815,313 ,274.593 3.179,616 3.640,884 Crcditors: Amount5 flllling Ilu¢ ftftor more IhAn on¢ ytllr 23 {210,0001 2,929,616 1300.(X)O) Nct as$cls 3.340.884 Ilund% of tlic charity ndowni¢nt funds ReslTicled fiinds 151,579 2,163,988 614.049 138.544 2,859.773 342.567 TotRI ch*rity fund5 25 2,929,616 3.340.884 Th¢s¢ fiiianri81 siateineiils were &PPToved by the Btstrd ofTivslees and ttuihori%ed for issiie on aiid ar¢ signed oll behaifof Ilie Board by.. [fr.....W.: lJL4 The Rev¢r¢iid Canon Guy Brid8ewater Rccloi ofBalh Abbey Mr R Carver Treasurer Tlie TrotC5 on pagcs 18 to 39 form pllrt of ihest fin4nciRI stalctntttts. Is-
IIRtlI Abhey PIr£ lJi&l Church Coiillcil ChRrily Siatcmeiil of Finllncial P0511ion 31 D¢e¢mbeJ' 2023 2023 2022 Note Fixed Iiitangible a55ets Tangible lix¢J assois 17 2,212,723 151,5110 2,227.746 138,545 19# 2,364,304 2,366,292 Current AysCt5 Debiots Casli at baiik and in hand 21b 921,576 4SI,582 459,406 1,062,536 1.373,158 .521,942 ClditOrs.. *tfLounts 14lling dut iyithiij on¢ year Net current 458Ets 22b 1559,8211 1249,3251 813,337 1,272.617 Total A55Cts less eurrertt liabililios 3,177,641 3.638,909 Creditors: aTI]Dlints falling (lue After morc than ot ycar Net R55Cts 23 1250,0001 1300.(M)O) 3,338,909 2,927,641 151,579 2,163,9811 612,074 138,544 2,859,773 340.592 UniEsiri¢kd flId5 Tvtal cljllrity 25 2,927,641 3,338,909 'rhese financial 51&lenicn15 IV¢ approved by the Board of Trustees aull)origed for i55lle on aiid signed on beliaifofihe Board by.. The Reverend Caiioji Guy Bridgewater Rector of B811i Abbcy Mr R CaTVLr Trasiirer The nole5 Olt PRgo5 18 to 39 foi'tn part of these finan¢iRI 5tRfemcnl& 16-
Bath Abbty Paroclital C.liurch Ctrvncil Consttlidaled SIRtement ofcfish fioivs Y¢pi' endcd 31 De¢ember Z023 2023 2022 CA$h IIDW5 from opeixting a¢liYitie5 Nel cxp#ndiiur¢ (411,2681 1274,7031 AdJiisliiseiJls1or.' l)cprecilTon oft&llEible fixcd Assets 43,056 39,562 3,969 18.485 (8,8411 12,905 Nei IRaiiisFIDsses on invesim¢iil OiheT iTii¢rLsl rec¢iv8ble and 5itnilHr income Tnleresl payable ld Similar chllrg¢s 113,03f I 118,2301 31,605 ChÉTNges In.. Stocks Trade otlierdEbiors Trad¢ and (>ther ctcditors 155J741 1243.201) 296.796 1,804 295,686 14,5221 Casli generated [1M op¢raltons 1369.6f11 85.345 Intere paid Iiiteresl received 131,60SI 18,230 {12,9051 8,841 Net cash (used injlfrom operating ¢iiviiies 1383,0261 81,281 Cmsh tlows fioDJ inve5112 Xctivilies Purchase ofian8ible assets (28,0331 125,4451 Net cash used iii investing activities 128,0331 125.4451 iyet 1decrea5cylCre15e in eAsh Aiid cA$h equiYal¢iJfs Cash cRsh equiyalcnty Ai begijining of yeAr Cisli cR51k e411ivAleDls at end of year 1411,0591 1.188,625 55.836 ,132.789 777,566 1.188,625 'IlJe notts on pag¢$ 18 J9 furtn parl oftht5c finAntl*l st9toments. 17-
Bath Abl)ey Pxrothial Chureh Council
Year 311)ecembei' 2023
Bx5i5 of prcp&r•lio
Tlic fiiisiicial slalcnienls havc been PTepaTed oli the lii510ri¢al ¢osl bllsis, 85 lliodifi¢d by the revaluation of invesliiieiil as5¢18
iii¢asured dl fair vallle Ilin)118h inconic or expeiidilure and are ptesenled in slcrliiig whicli is Ihc funclional ¢urrciicy of Ihe
¢hoTity llnd rounded to the neHre51 £1.
Tli¢ finaiicial slalemctils havL bccn prepared lo givc a'iriie and fair" view gnd liav¢ d¢p#Fled froTll the Cliai'ili¢% (Accoun15 lind
Rewrtsl IleBulalioiis 2008 unly lo the ekteiil rcqiiirtd ID provide a"Iru¢ 811d fair vi¢iv' Thi5 depDrture 118$ involved rDlloiv8
Accouiiling aiid RLporling by Lliarili¢s PFL'paring theii. gecouiiis iii a¢cord&iice %Yiih the Fin7¢197 Riportiiig
Siaiidard applicllble iii Ilic IIK and I
Ilalh Abbey Paro¢hig1 Churcli Couth¢il Actounling Policies fcoNtliiiied) Yefir ¢ndcd 31 Deeeml>er 2013 riund AL'tounling The accounts includB all Iransactions. ossets aiid li3bililies for ivhich the PCC is re5poDsible in lsw. Unreslriclcd funds represenl Ihe fuiids of ilie PCC thai are iiol siibjecl 10 any re51r&cliDns rc8ardinB Ilieir use and &v&ilablc for application lo IhL gbii¢r41 pui'poses ofili¢ PCC. Funds desigiiaicd for D ptrii¢ular purpDse by Ilic PCL are a150 unresli'icled. R¢stricled funds are those nioiiies 8iveii to IhE I)CC for specific purposes and c811 only appli¢d in Tesp¢¢l of Ihose PUTPOSCS. Endoivni¢iit fuiid5 repregeni capital donoiions lo ih¢ l)CC And oiily the incoine arising froin tli¢ lunds 1118y be &pplied, Il ¢apilal remaining i019Qt. lJie(kme All iiicome is incliideil in Ihc slaleinent of fiiian¢ig1 Ktivities wli¢ii ¢nlitlenicnl ha5 p4ssed to ihe cliarityy il is pmbbl¢ tliatthe economic bcnefits associuied iviili tlie Ii'ansaciion ivill floNY to Ihe charity snd Ilic 4inounl can b¢ i¢liably meDsurcd. The rolloiviiig spe¢ifi¢ policies are applicd io parlicul&r ¢aiegori¢s of incom¢.' Donotions grlln15 Pl&nned giving is tzcogttised only Nyhen received. ColleKlions are r¢cognised when receiv¢d by oron bchalf of Ilie PCC. Grants l¢gaciesgre accoiinted forll5SOOrtasih¢ PCC is noiifiedof il5 leglll enliileineiil, the sniouni ¢an be reliably ni¢a8ured and it j5 PTobabl¢ that the llmounl will b¢ received. Tht Heritsge Lottery fiind grant initially Hniounled to £10,725,300 slid ¥va5 recognised Ivhen lh¢ gralll ofter finaliscd snd PBrmtssion was granted 10 cotni1Trce the ivork. This gr}1 Was iti¢Yeased by £534.000 gnd w55 Fecogiii5¢d ivhen th¢ increase Ivas fiiialised in Jaiiuary 2021.'fhc Hcri18ge Lottery FiiiKI ar¢ liolding a rb'lcnlion sum of £281,483 wliich will bc I'elea5ed to Baili Abbey iipon Loiiiplelioii of Ili¢ Footpi'int ProjEiI, an ¢valuBlioii rcwrt and som¥ olhcr addilion&l iiilormation. 'lkne Foutprinl Pioject has beEll ¢oiiiplcted, th¥ evalltIon report compl¢t¢d ivell ag Ili¢ additional inforiiialion. We llrc ulvailiiig return Df ihe rcteiition nioiiies wliich ivere nol rec¢iv¢d as 8131 Dc¢enib¢r 2023 aiid 80 this I'elentoN suiii is acced in Ihes¢ d¢COntS. lax recoverable on gift aid don8tions is reeogLised when Ihc donation is ]Eceived. Inco]nL' from otlicr #ttivilie5 Sales of bouks aiid olhei. item5 sold in ihe shop aTe recognised lll poini of sale. Fees orising frotn t1 use ofthe Abbey llnd ils other properties rtre r¢co8Di5ed whcn th¢ fee is due. Exptnditllre ExpEnditure is reco8nised on on accrualE basis liability is li1cud. Grants glid do[110$ are acwunled for ivli¢n p8id over, or ivhen 8w&rded, if iliat 8ward cteales a biDdiiig obligiion on the PCL. I'h¢ dioc¢£an parish 9h&r¢ is sccoiiiifrd for wlien payable. costs are the major ¢xp¢nditure of thc Cliarily Rre apportioned to activities bll5Ed upon the lime sp¢nl on those aclivill¥S. Tlie iiiajorily ofoiher cos15 can be dircctly alloLal¥d 10 each of Ilie charity's acliviliEs as sei out in note 9. Tli¢ costs of providiiig c¢iiir&l office 5uppoII sucli as fin)¢¢. Hulli RESOllrtes. r¢¢eplion dcsk ar¢ Ire&led S¢if1¢#I1Y 95 SUPPDrt tosis and are del&iled in noie I l. 19-
Batli Abl)ey ParoeliiHI Chtirclj Coumtll Yoai. 31 DEcenJbcr 2023 Int#ngible ll55Cts iilangibl¢ a¥¥eis ate initially rccordcd HI cost, and are sub5eqiieiitly slal¢d ai ¢051 le55 Biiy a¢cuniulaied HniDrtisation and inipaimienl losses. Aiiy iiilaiigiblc aSSEls carried ai r¢valiied fiiiiounls, arc rc¢orded at the fair valu¢ ai Ilic datc of rev8lu81ioii. us determined by r¢feT¢n¢e io an llctive market, Icss aDy SUbs¢qinl accumulated 8moi*isaiion and 5ubsequ¢nt accuiiitslaled Atnoi't15Rtion At]ioftisaiion is calcul&led 50 as Ivrile otyihe wsi of Un Bssel, 1¢5s ils e8ltniaied residu91 vglue, over the iiselul life of th&t Iissel as follows.. Websilc dBvclopmenl Ovcr 3 yexrs 51rdight liije Irihere is an lildi(lon Ih&t Iherc hasbecn o significant ohange in or11tionrat¢, uscful life or residual valuc oran intangible el, tli¢ amoriisaiitrn is revised prospeeiively lo rfleci thc newestimates. Txngible s55cts All fixed asseis CDsling £l.000 or mtrre are capitalid and are initially recorded at cosi. They are Viewell for impairtnent intetva13 no greater tliaii oiicyear. Work lo maintain Ilie Abbey lincludinE floor repair51 is expcnsed in-year whil%1 iVUFk outside, log¢lli¢r iyiili any expenditure oil fJxiurc5 arid fillings, is capiialised. Tlie Fooipriiil ptujccl covers botli ivork insidc the AblKy aiid ouiside, so analysis i¥a5 undErtyken lo ¢¢all7 Iheexpected propJriionsofihe cost of iwrk ittsidcllnd (>ulside, log¢ili¢r iyilh any &550cIDled fees. Work uiidertakcn by Footprint kns then bc¢n ¢apilalised a¢cordiiiL lo Ih05e proportioti% biii capped by Ilie eXed iiiarkci valiie for the outside property. Dcpreciatio Deprecidlion is calculated $0 us to write off the cost OT v&Iu81ion oran Jssei. les$ i15 residugl value, over the useful ewnoniic life of tliat lls%el as follows.. FIEehold property- 50 yesY% Fvotprinl Iimje¢l in progresg- nil until coinpleiiu Fixlure4 fitliii8s aiid eoiiipnieRI- 3 to 5 years iyiih the exception of Diptych5- nol d¢pr¢cialed Glockenspiel 20 year$ Sound, 5cieell atid sla¥iiig- 3 to 10 years )ianos- 50 years DLpreciuiiun on the Footprint pwjccl expeiidilurc ivill ¢vrninence in Jaiiuary 2024 fvlloiviiig coinplciioii ofthB piojecl. Chairs IT equipnienl have been purch¢ as part of Footprint aiid Ilioy ale bEing d¢prcciai¢d vvcr 5 llnd 3 yegrs Tespeclively. InvtSlmcn15 List¢d Iiivcslnienis ite meawred ai fair value wilh changes in fairvalue beiiig recognised in p]Dfitor loss. 20_
Batl) Abbcy PRI'oehSAI f.hui'clJ C.oun¢il Atcounling Polici¢s (c&JtÈliJiiedJ Ytir ¢ndcd 31 Detembtr 2023 Stvclc5 StDLks arc nieasured lll the loiv¢rof¢ost esliniaicd selling price less cogis lo coniplete and scll. after niDkiiig du¢ allowance for ob501¢lc and s5oiv n]oviiig iienis. Cost iiiclud#s all cosls of pyrchase and olh¢i costs in briiiging tlic sio¢k to ils pr¢senl localion aiid ¢ondilion. A finaiicial asset Dr a financial liability is re¢ogIiid only when the enliiy b¢comes g party lo the conlrllcluttl provisions of the Basi¢ filnCial inslrumenls are inTrli8lly Tc¢obJnis¢d 81 tlie fjinoiinl receivable or payabl¢ iiicludiiig Bny relaied ira115aclioTr Eosts, unless the arraiigemenl con51iiulc5 a fiiiaiiciiig Iransa¢iioii, where il Is recognised 81 Ilie pre5cttI value of Ihe fuliire paymeiils discounted ai a niarkct Y8te of inlBiesi for a silliilar debi insiriinient. Curteni 8S5els currenl liabililies llre subsequently DW5UTed fit the c*sh or other considcralion ¢xputed lo bc paid or re¢eived an(J iiol discouiifrd. DefLne(l ¢ontributlOD plan$ Tlie climrity operaics iivo defined contribution nSIOn sEhEtnes for employees. The asset5 of the 5Eh¢m¢s ar¢ held sepllraiely rrorn Iliose ol'ihe charity. Tlic aDiiual conlribiiiions are recoBnised Js ali cxpense Ilie PBTiod iii iyhich IhE rc1&1 Service is provided. 21
B&th Abbey Pxi'ochiRI Church Coiintil Year tnded 31 l)ecenibei' 2023 Ccnoial informxtion Tlie charity 1£ a F¢Risl#rcd ch.lY ID l.iigland and Wllles uiidcr Ihe liam¢ 'The Pa11 Cljurch Council of the Ecclesiastiesl Parisli of Abbey ivilli Si j]eS, Bath 8iid is unin¢orpor&lEd. Tlie Mddress of tlic priiicipftl oifice is 9 Kin8Ston Building5, Bath, BAI ILT. Stgt¢inenl of cvmpliHnee I'he cliBrity COllsiiiiiie% ll public beiiefil enltly #s dcfined by l.'RS 102. Th¢ financiiil stnlciiienls linye ¢11 prepared Bccordaiic¢ iyiili Accounliii8 aiid R¢pDrting by Cliarilies.. Siai¢ni¢nl of Reconiiiieiid¢d Praciice applicable lo cliai'ilie5 prepariiig IhEir account£ iii accor(lfinie iviih Ilie fiiiaii¢ial RcpDrting %laiidg1'd applicable in Ihe UK and Republic of Ircland 11.'RS 102) issued iii October 2019. IIIL Finuncinl IleTx)rtiiig 8laiidard applirablc in tlie Uiiiled Kingdom Ènd Ilepublic of Ireland Ib'tis 1021, Ihe Cliariiits Act 2011, UK Gen¢rally Aecepled Practice. Don#lions leg2£ies Unre51ricted ResiFi¢icd Totlll F¥nds 2023 CIiiiEi7IJEa DnAtIS Visiiors lo the Abbey PlannEd giv&ng 145.378 244.501 14f,378 244,501 24.972 27,250 26,178 18,677 6.207 7.726 52,122 27,994 18,677 6,207 7.726 Donalions- Inust Doiialions organ Donalioiis- Fooiprint Mission Support PEnlecost appeal Legacies Legg¢ies 183,572 183,572 Grant5 Listed Places of Worghip Calli¢dral Miisic'frusl 4criiage Lottery Fund 1.893 6,545 10.o(x) 281,483 8,438 10,000 281,483 (2.[32 384.066 9¥6.198 -22_
IIAtlI Abl)ey Parocliisl Chllr¢h Coyijcil Notcs ID tlit Fin%n¢ial S¢2tement5 feoiirtNrieil) YtAr ended 31 Dec£nibei' 2023 DonAILDllS legA£i¢s {roJiilitiiehJ Unresiricied Reslritied Funds Totlll Fund 2022 PriOrar DonatiTrns Visitors lo the Abbey 678.810 189,286 38,051 20.676 3,507 678,310 189,286 38.051 20,676 19.952 280.534 18,640 21,664 Colleclions Donalioiis- general Donaliuns- m1151C Dojiations organ 16.445 280,534 18,640 21,664 Missiort Support P¢nlecosl appEal L¢gei¢s Legacies 10,033 10,031 Lisl¢d Plgces of Worship 14crilag¢ Loiicry Fund Oilier g[115 9.662 308.089 4.021 9,662 308,089 5,521 1,500 941,863 659,055 1,600.918 Uiir¢Mricl¢d Fiinds Jiesiricted Funds Total f4und5 2023 CifireiiiiYaJ' ,138,272 267,769 ,138,2n 267.769 Toiv¢r tours 1,406,041 1,406,041 Uiire51ricted Restricled Toial Funds 2022 Ircclassified) Ireclassifiedl (recI1r1edI Pi'loJ'JEai' Visitor adniission [¢¢5 'loiveT ttsurs 187.278 216 187,494 187,278 216 187,494 Olher trAding activities UtJreslri¢l¢d Keslricled Funds Total liunds 2023 Ciirirtiye41' Shvp sale5 Abbey hire Hnd othBT fees Mclody Makers 435,C)20 236,193 5,725 435,620 247,475 11282 677,538 11.282 688,820 Unrestricted R¢slricted Toial Funds 2022 Irccl&ssified) Ireclassifiedl (Teclassifiedl Piioj'year Shop salcs Abbey hiie llnd olher fces Melody Make15 380,006 178,060 550 380.006 189,180 550 558,616 569,736 23-
Ilatli Abbey l>arochial C.liui'eh Council Notes to lh¢ finAllI'ial SIHtcnicnt$ (C•11111erfj Year cndcd 31 DecombL'r 2023 Unirslri¢l¢d Resiri¢ied unds I'otal fiulltls 2023 Ciiii'enlyeaj. Other inter¢51 receivable 14,0¥7 4,143 18,230 Unreslricled Total I'unds 2022 Fiillds Piioi'year Other inleresl rec¢ivabl¢ 4,721 4.120 8,841 Costs of rAlyirtg doTration5 legAei¢s Unrestricted Trunds Total Funds 2023 Unresirt¢ied Flind5 rotal Funds 2022 Visitors lo the Abbey 243.735 243,735 Costs of other trlldinE RCtiviti¢s UnreslriLled Total Funds 2022 Irecl&£sifi¢dl Ir¢cl&ssifiedl Unreslricled Fuiids Tol%] f4iTnds 2023 270,097 129.993 322 3.139 270,097 129,993 322 3,139 302.3¥5 49,903 12.690 7.680 301385 49,903 12,690 7,680 AbbBy hirc and ollier f5 Singing for Scliools M¢lody M&ketS 403.551 403,551 372,658 371658 24.
BAth Abbcy PAro¢liig1 Cliuiyh Council Year cnded JI Dc¢¢ml)ei' 2023 I xpendilure ch#i'itablt Aclivilie5 by fund type Unrestri¢i¢d Reslricied Total fiunds 2013 Ciiii'eJ?iyeoJ' Parisli %harc Mission Siipport Vi511vis 10 Ihe Abbey OperBling costs Toi4rr lours Miis1¢ ¢0$1s Work of ihe Miiiislry Fabric Mllinlenaiice ATchi¥¢s Foolprinl projc Foolpi'iiil deliycry ph¢ fu[ed by HLF Suppon costs 282.000 2t12,000 7,726 327,173 480,456 7,726 327.173 480.456 65,750 201,(148 91.377 119.460 12,447 31,0(A 232,712 6,489 436.Y18 12,447 229,(k81 491,1148 457,541 317,358 229.081 491.848 13,087 444,454 2.024.765 I,OY5,276 3,120,041 Unrcslricled Funds {re¢l%1f1edI Total Fkinds 2022 {reclasstfsedl Restricted PJ'IOr)UI. Parish SIIDI Missioii Suptx)rt Visiiors 10 th¢ Ahbey Opeiatiiig cosig Tower ttTrur5 Mlisic coms Work ofiiic Miiiistry Fab¥i¢ Maintenante Archives Footyrini proj¢cl Foolprinl dulivcry pliase fiinded by HLF Siipporl costs 30,000 30.000 21.664 21,664 343,123 53.804 IY2,535 93,997 41,530 15,232 343,123 53.804 212,927 101.914 148,353 15,232 212,187 437,195 430,415 30.392 7.917 106,823 212,187 437,195 13,087 417,328 1.177,549 829.265 2,(K)6,814 10. Cixpendilure clkaritable ftclivilies by Rctiyity type Total fuiid 2022 Ireclassifiedl Charitable giving Work of Ilie Abbey Total funds Support costs 2023 Pbrish Sha Missivn Support Visiloi's lo Ilie Abbey Opcralins costs I"oiver tvurs Music costs Work of Ilie Minisiry bri¢ Maiiilenaiice Archives Footprint proj¢ct Foolprint delivery pbase riilld¢d by Hl.F Governance costs 282.000 282,000 7,726 327.173 922.397 30,000 21.664 7,726 327.173 480,456 65,750 232,712 96,489 436,818 12,447 229,081 441.941 758.03¥ 53,804 212,927 232,712 96,489 436,818 12,447 229,081 148,353 15.232 212.187 491,848 491,8411 15,6( 437.195 15,500 15.6(M) 7.726 2,654,774 457,541 3,120,041 2,006.814
IIRtlt Abl)£y Pgro¢hixl Chiircli Cou¢11 N(bte% lo the liinaiieial SIAlementy (Coijlilliied) 'e&r 31 Dvccnibcr 2023 AnRIy515 of Supporl eo$i$ 'I'otHI 2023 Total 2022 Sillff costs rin8nce ¢OS15 Governance costs 270,91S 31,605 248.527 12.905 15.500 27,426 35,676 63.756 26,625 26,429 23,744 55,472 33,776 Legal aiid profbssional Office runningexpens¢s Oihcrcosls 457.f41 430,415 12. Not gaiDsll1055tsl inYcstm¢nts EndDivment Funds Total Fund$ 2023 Endoisgiient Total flind5 2022 Uttreslised gal[{1055¢$I on investnKnl asseis 13.035 13,O3S 118,41151 IJ. Nel expenditure Nel expeiidiwre is slAied after chgrging.. 2023 2022 Amortisation of uilaiigible assets Depreciation of Illilb1e fIxed assets 3,969 39,562 21.973 43,056 23,848 14. Allditoi% remyntrAIiu 2023 2022 Fee5 payabl¢ for Ihe audit of the financial Slalemenls 9,450 <J,000 F¢es pllyllble lo tlie cligrity's auditorand 115 associate% for other services.. 3,500 1,400 .761 Tall017 Lomplittiice seiwices Taxaiion advisory seryic¢s 840 3.990 6,661 26-
Jlatli Abbcy Prochi¥l f.hllrch Coiintil Nolt5 to th¢ fiinRTreifil Sialement5 (cyrJdJtierti Ytar ¢JJded JI Dc¢trmb¢r 2023 15. SIAttcosts The lolal Sta cosis ano cniployee bertefilg for the reporting period sre 8iialysed a8 lolJow5= 2023 2022 Wgge% 5Rliric3 Social s¢curity costs Eniplvycr conli'ibutions 10 pension plans oiheremploye¢ betiefils 1,020,626 74,169 969.650 75.815 24,366 4.423 2,858 I,I2O,163 1,074,254 lrt¢li¢cled in Ihe above siaff costs gr¢ c051S Df £14,16412022- £18,12711'¢l&liTrg 10 ILt¢rued holid8ys b¢iiig c8rried over 10 rulure years. There arc around 30 hourly paid employees ivliose Ivorking lioiirs are so varied thai an average full iiine equivalcnl calculaiion ivould not be &pproprial¢ or usefiil. In respxl o1.5ucli etnployees, total lioU worked ivere 15. 608 split as follows.. WelcomeTea Toiver Tours 8,986 3,940 2,135 310 200 37 Shop Op¥tlioiis Music L¢arning In 2022 these employees ivorkcd lolal hours of 14,320. Th¢ 9% increase in hours i5 due 10 paid staff now ¢uvering rTrl¢s wliich were previoiisly covered by vol&ni¢¢fs l¢.g. eiitry lo th¢ Di%covery CenlT¢I The avBrAge hcadcount of employees during tbe year 59 (2022- 591 wliicli incliides tlie pool of 30 r0-hOUr sla mentioned &bDVE. The 8v¢r&ge No of full-lime eqiiivRleni employees duTlrtg the year, shown by dcp91tment, i5 analysed gs follows.. Z(123 2022 0rationS OlCe and adminislralion Worship Footprinl 28.8 28.0 The numb¢r of employees whosc reniuneralioii for the year fell within the folloiving band5, IveiE'. 2023 2022 £70,000 10 £79.999 Key Manxgtment Porsonnel llie PCC coiisiders th81 ilic"Abbey LeDdership Teain" coniprises Ihc key manaEcnicnl p¢rsonnel of the Abbcy and Ihlll tliey [e in Charge of riinning aiid operllling the Abbey on a day 10 day bllsis. Th¢ Abbey tKadership Teaiii Ineets foitnighily and ¢oii$isls of.. 1.lie Rcclor, Al)bey Mission¢r. The Abbey l)aslor, both Church W2rdeii4 th¢ Dir¢cior of Musifj the Execuiive Director, Fa¢ilili¢s Manager. Head of Visitor ExrIe17¢¢ 8nd Ile&d of finat>c¢. The 10181 remuii¢r81ion of Key Management P¢rsoJiiicl ivBs £238,75612022.. £318,044). 16. Trstee remunerlSon and cxpen3c$ No iemiiiieralion or reinibursem¢iil of¢xpenses {2022 iiil} IIBS beeii made lo the Members of Ilie PCC in Iheireapacsty a5 M¢iiibei5. -27-
Bgth Abbey Parochi1 Cliwr¢h C(FviiciI Note5 fo tht l-,inatt¢il SIRtemenl$ (cg11liiiii Year ¢nded 31 DeceJbei' 2023 17. Inlangiblt aS$Et5 Tlie Ljroiip tlJ£ charity Illeb51te dcvclopniont Cost Af I .J8nu#iy 2023 And 31 Dce¢mbei' 2023 AmDrlk5Xtion At I JHnuAiy 2023 31 Decon)ber2023 c.arrying XTnounl At 31 December 2023 11.908 11,907 Al 31 D¢¢¢mber 2022 18. Tingible fixed aA8et5 The group and the eharity rreehold propBty and le8sehold additions Footyrint project in Sotsnd. screens progivss aiid %11n8 PianD Total CDSt At l jll 2023 Additions 233.491 2,026,409 306,780 1,783 167,106 26,250 70.4fv1 2,8O4,2f 28,033 Ai 31 Dc£ 2023 233,491 2,026,409 308,563 193.356 70,464 2,832,283 DepreiiatiTr Al l Jan 2023 Chary¢ for the yexr At 31 Dec 2023 87.486 6.214 44.403 16.624 27¥,287 10,655 139.988 26.340 .372 576.504 43.0.$6 93,700 61.027 288.942 148.179 27,712 619,560 Crrying At 31 Dee 2023 139,791 1,965,382 19,621 45.177 42,752 2,212,723 Ai 31 D¢c 2022 146.005 1,982,006 28,493 27,118 44,124 2,227,746 19a. Tllo growp thc charity Li$tcd itsve$tfflrnts st or vlluxtion Ai l Jllnuary 2023 Fllir valu¢ movemcnis 138,544 J3,035 Al 31 Dtcc]nbcr 2023 151,$79 Implirmtnt Al l Jnulliy 2023 31 Dt¢rrnber2023 Carrying amoujbt At 31 D¢¢¢mbei' 2023 151,579 At 31 December 2022 138,544 All iiivcsinients showii above are held at vBlJaiion. Unquotcd inv¢51menl In addition lo the iiivcsl#ien15, Ihe charity held one £1 ordinary share in ils Ivholly oivn¢d subsidiRry conipany, al a Cost or£i. 28-
Ilfilh Ahbcy Paiy)thi#l cllujh CounL'iI NDtcs to the FinaTh£ifil Stalcm¢nts (¢OlJliyiMed) YCAI. 31 Dccetnbti. 2023 19b. SubsidiRry wnd¢rl8kiitg 'he tharity oivns Ilie whole of tlie issued sliarc capital of Bath Abbey Liiniled, a company r¢8islered in Eiigland. Its priiicipal aElivily Is Ilie OperlI0n ofthc sliop &t Ilgth Abbcy Ihe ownisatiott of concerts tnd other events al th¢ Abbey and a suinmary of ils results n balance sheet is provid¥(I b¢loiv.' Year ende 31 Dcc 2023 Year ended 31 Dec 2022 Profjt and los$ account Tui'iiov¢r Cosi ofsales 556,620 1199,0611 495.834 1231,2091 Gr055 profil 357,559 264.625 Adtllini51raiive ¢xpenses 1131,0321 1124.4651 Operating profil 226,527 140.160 Distribution 10 Bath Abbey PCC 1226,5271 {140.160} Result for lh¢ financilll year BAlae0 %lieet 472,247 147n,2711 1189.7381 Relained surplus 1,976 1,976 29-
Il%tlJ Abbey Paroclii#l Chui'th Council Notos to tlie f4sn#nciRI SIAtomonl$ (coiiiiitiitt41 YeRr endcd 31 De¢enibL'I' 2023 20a. Stocks 'l-he ¥iYkup 2023 2022 FiniSd goods and goods for]¢sale 112,399 57,025 20b. SIDck5 2023 2022 rinished 8oods and goods forTe5al¢ 21a. Debtors I'he gioup 2023 2022 Tr&de debtors Prepaynicnis Rnd llccrued iiicoine Gift Aid Tecovei'able HLf graTrls receivable other d¢biut5 23,647 199,296 3,701 281,483 39,996 13.323 32.281 16,485 201,OB4 41.749 548,123 304,922 21b. D¢btoi$ I'he cliRJ'ity 2023 2022 Trade deblots Atnount5 Qiycd by groiip undertgkings Pi'epayiiicnis and llrcriied incoin¢ Gitl Aid Fe(x>verable HLF grants receivable Other dcbtors 11,287 146.159 32.281 16.485 201.084 52.110 407,316 178,914 3,701 281,483 39,997 921,576 459,406 22a. Lirdiloi$'. thJ]JDuRIs tAlling Ivill)lJb OllL' year The Lvri)up 2023 2022 Tr#d¢ crediiors Accruals aiid d¢ferr¢d iii¢ottie Socia15¢¢urity aTid oihertBxes W3ge% coiiirol aicvunl Loan fro Diocese of Baili and Wells OiheT crcdilors 127,973 361,968 49,072 4,814 50,000 28,948 118,269 24.283 4.635 12.685 622,775 275.979 22b. c111J5'. Amounts falling wilhin one yc*r Th¢ ehnrity 2023 2022 Trllde ¢redilors Accru#ls aiid d¢ferred income Su¢ial seciiiity oth¢r iJxes Wages coiitrol accouiii Loaii fron? Diocese ofBaih and Wells Other Crcdiiors 118,014 348,38() 31.978 4,814 50,000 9,626 106.823 IlJl.089 24,283 4.635 12.495 559,821 249.325 -30-
Ilath Abhcy PAroehiAI Chiii'cli Council Not¢y to Ihc JiinHnciRI Staleme]Ets (coiillijiiert) Y¢Rr endtd 31 Decoinbci. 2023 23. C.I'¢dilors: aVill)IS fAlling due 4ller more thAll one year 'I'he groutk thc cli#i'ily 2023 2022 an from Diocese of Bath and Wells 250,000 300.000 The £300k loan ¢apilal suni fro]n the T)iocese of Bath and Wells is repayabl¢ iii equ&l instalinenls over 4 years from 2024. 1.he *liiOUDI of the loan repayable by inslalniciils over 5 ye4r8 from tlie balancc 5h¢et dllte is £31,250. Interesl is cliarged ai 4% ov¢r base and is repgy&ble oniiually on each artnive¥sary d81e. 24. Pensions and other p05t retiremettl bejjcfits I'he amount recogThixed in expenditurE as an ¢XPBnse in relalioD to defirt¢d contribution plans was £22,510 12022.. £24.366). 25. AnAIy5is of eharitAblc (unds Uresti.1Ctel fuThd$ Tlie LTI'oup At 31 Dec 2023 At l Jon 2023 Expendiiiire Trgnsfers Ctsriyni )1. Geiienl fun Footpiinl developinent fund t£ga¢i¢s fuiid teg&cies ]Ecetvabk fund Sabbatical fund Missiun Support 257,688 2.534,670 12,428.3161 364,042 64.919 13,480 1.783 66,702 13,480 130.000 130,ODO 3,481 3.480 3.000 3,000 Abb¢y Choir Devclopnient 33,345 33,345 342,567 2,699,798 (2,428.3161 614,1149 Al 31 Dec 2022 Al l Jsn 2022 Income ExpenditUTe TiansfcTS Pi'ltsj. Jyar 360,407 1,695,221 {1.793.942) 257,688 Foolprinl deY¢lopiii¢nt fnd LEg&¢ies fuiid l.egacies re¢eivable rund SBbbaii¢al fuiid Mission sUprt 63,662 13,480 1,257 64,919 13,480 3,480 3,480 3.1K)O 3.(M)o Abbey Clioir DEvelopmLnl 12) 444.031 1,692.478 11.793,9421 342,567 31
Bath Abbey l)arotliiNI Churcli Council Note5 to th¢ FinxnriAI.%tatetlltMls (cowrtiititrf) Yer 31 Do¢embci' 2023 25. AJklys15 of chxritablo fn¥ {coJtÈliriied) Unresli'tcled fund5 At 31 Dcc 2023 At l Jan 2023 Iiiwni¢ EXnditre Tknsfets General fii#d5 Footprint developnicni fund 1È8HLiLs fund LcgaLig5 receiv&ble fund L¢ga¢i¢s fund mi10 Siipwrt IFavel Abbey Choir development 255,713 2.204.577 12,098,223) 362,067 64.919 13,480 1,783 60,702 13,480 130,000 130,000 3,480 3,480 3.000 3,000 33,345 33,345 340,592 2,369.705 12.098,223) 612,074 At Trnn5fers 31 De¢ 2022 At l Jail 2022 Expenditur¢ Prioi'yeai. G¢iiLral fund5 roolprinl dev¢lopinciii fund L¢ga¢ies fiind Legacies receivabl¢ fund .egacies fuiid Mission Support 358,432 ,335,547 11,438.2681 255.713 63,662 13,480 1.257 64.919 13.480 3.480 3,480 3,000 Abbey Choir devclopnieni 3,000 121 442.056 ,336,B04 11.438.268) 340,592 The Fotstpriiit Project is Bath Abbey's Inajor dev¢lopmenl programnic ivhicli aiJn5 to meet the Ivorshipping ii¢eds or Baili Abb¢y's ¢uiniiiiiiiity in Iliis age and lor yeBrs lo coiii< and 10 develop the facilities to 5UPPOrt aTid cnhdnce IhB Abbey's service lo t1 city. The Footprint dev¢lopmenl fund {forni¢rly the AbbBy Churcli Hoiise building and dcvclopmenl fuiidl is the money received froIn Ihe sale of tlic AbbEy Cliurch Flou%e l¢ase and these funds ar¢ ijow beillg iised loivaTds the cost of th¢ roolprinidevelopiii¢nl progr&Tnme. The Leg8¢ies fund beEii sel up for legllcy inconic where thE trustees wish io specifically idenlify $ub5equent 'rhe legacies re1vablE fund114s ken sei lip to record l¢gacieswhich have iiol bccn Te¢eived but which nicet Ihc criteria for iiiclu5ion in tlic accounts. Any diffetence behv¢¢ii Ihc esiitnDle of the atnouni olthe legacy aiid ilic legacy Teceived can b¢ rtyudily idelltified. 'I'he SabbAli¢al futtd is nionie5 s¢1 aside its providc for ¢l¢rgy sabboticttl exp¢nscs. Tli¢ Mission Siipport Iravcl fiiiid is nionies set a%id¢ by ihE Mission Support Comtnittee tg conlribult towards ihe travel The Abixy Choirdevelopmeiit fuiid ists legacy of £33.345 received in October2023 fron] the late Dr Derek Gibson who vas an ex chorislei.. H¢ lias dondted tl)e legacy lo Bath Abbey PCC and his desire is (hal tli¢se iiionies are lo be used io siipport Ilie Abb¢y and i(lelllly develop Ilie AbbEy choir. 32-
Blth Abbey ParocliiHI Churcb cou£11 Nolcs to Ilbe flinncl1 Statcmenl$ IcgNtlJttieil) YeAr 31 Decrmber 2023 Resti-icled funds I'hc Eruiip tlit clLarity Al 31 Dec 2023 Ai l Jan 2023 Incom¢ Fxpenditure Iransfers CiiJ'iYJjruj. R¢vtllue includiiig sclaI Coll¢clioJis closrd Musi¢ fund Recloi'5 DestrL1IOIiary 27,899 19,993 32.726 51,603 112,8381 {31,0641 47,787 40,532 860 2G,012 265,419 Fabric maintennCe fiind Orgaft fiind rabric projeLlS le¢Y rund Naiional Arcliive fund Footprint HLF revenue 2,250 18.677 128.2621 {284.0961 5,000 3,450 15,0001 3,4SO 240,446 204,183 281,483 12,752 1521.9291 1182.376) Foulprini r¢v¢nu¢ fund CapilAI lund8 rooipriiil FILf a5sel 34,559 116.6241 1,154,J37 811,046 39,199 811,046 40.569 Piaiio fiind {Hssci} Fabric projects capiial {1.3701 5,165 10.000 19371 4,228 10,000 Diptychs fiind lass¢ll HLrilage EmBrgency riind lassetl Ciiliiiie Recover Fund for Herilage lllsseil 4,056 19581 3,098 24.714 19,822) 14,892 2.859,773 399.491 {1,095,2761 2,163,988 -33-
BAtlJ Abbey Parochifil Cljui'rh Council Notc5 to the FinAiJrial StRtemtllt$ (coiJllNtterf) Ycar cnded 31 DL'cembei. 2023 25. Anfilysi$ of ehai'itablc [ndS (coiiilNiied) At Transfers 31 Dec 2022 At l Jan 2022 Tnrome Expetditur¢ Piioryeai. Ilcvenuc fuJtd5 %mall r¢51riLicd fund5 inLluding Spcci81 CollELlions closed Music fuiid Reclorfs DescretiunBry fund Trabric Ivailll¢iian( fund oran fund abiic projects l¢ga¢y lund Nglional Ar¢hivc fiind Footprint IILF revenue fulld Foolprini rL'venue fund CNpilxl fllnd5 routprint IILF as8¢1 fllnd Foolprini ass¥1 fund Pi&no fund ISet) Fabric projects Capital 35,816 53,701 21,664 31,685 129.581) 130.393) 27,899 19.993 135,0001 860 82,721 156,7091 26,012 265.419 280.533 35,000 5,000 3,450 5,000 3,450 356,566 383,830 308.089 32.540 1421.0901 240.446 204,183 1,183,946 Sl 1.046 41,939 {16,1041 ¥11,046 40,569 11.3701 6.102 10.OOD 19371 5,165 10,000 Heritage Emei'geiicy 5,014 19581 4,056 CullurL' Ilccover Fund for Hcrilage1sssel1 34.536 {9.822) 24,714 3.014.527 674,511 IX29,265} 2,159,773 'ikne Special lleCtiOns wid v&riou5 51n811 reslricled fiinds ¢i)nsis15 of sinaller restricted donation5. The Music fund is Inoiiies r¢ccived spe¢ificRlly toWrS funding the costs of the Music dep£rtment. The R¢ciols Dis¢Teiioiiary fund is lo be spent o5515ting rnembErs of tli¢ Abbey Comniiirtlly experien¢in8 timcs or hardsliip. Tlie TrabTiC Inaiiit¢iianc¢ fund ig money reIVed froin Bath Abbey TIu51 specificglly to mcel the ¢OSls of Fabric In&intcnan¢e of Ilaili Abbey. Tbe OrEaD fund is Inonies received SPEcificBlly for lh¢ costs of Ihe organ Tefutbishnient. The Fabiic projects legacy fuiid is a legacy specifJc&lly re¢¢iv¢d towards Abb¢y niainlenDnce projects. The Ng1101181 Arcliive fuiid is fundillg for a resesrcli projeci iisthng newspaper 8rcliivcs to provid¢ volunteer IrBiniiigJ web sit¢. and eyaludltun. The footprint IILr rund is th¢ balance of grants received on an invoice basis pliis fi]ture grants payabl¢ as re¢o8nised nder th¢ SORP. The Footprint fund is moDi¢s received $pecific&lly to fi]iid the Footprint development prografftn. 'Ihe Piano fund aiid the FAbriG projects capilal fuiid are boih Tnonies Ttceived which have beeL utilised to puirlia5¢ speoific capital asscl$. The Diptyclis iver¢ purchased using donated fiinds ivliere tli¢ donors pla(*d tesITiGlions on tlieirdisposal. Naliotial Loiicry Ili'riittge Eiiiergency fiiitd an(1 Ilie Cultute Recovery fuiid for 14¢rilage i¥ere graiils aivarded to Bath Abbey 2020.'1'lie knlaiices r¢iiiaining these flliids repitseiil capiial ass¢ls pur¢h&seil by tlie granl Inoiit¢s. -34-
IIHtlI Abbey Pi'o¢hial Chujyh CDuntil Note5 ltr Ihe fin¥nciRI Stalemcnt$ (cg1iliiitsÉd) Ytttr onded 31 DeL'¢ml)oi' 2023 25. Analyhil fjf ¢h2rilAble fund5 (covliyiiiért) r. dnivmcnl fiirtils The Ilic chRI'tty At 31 Dec 2023 At l Jgn 2023 TDcome Expcjidilure Ciiiinly¢ar 138.544 13,035 151,579 At I JAn 2022 Incon Expciiditure IA)s5es 31 Dec 2022 PiiorJEai' Miisic 157,029 {18,4851 138.544 26a. AD4ly$i.% of not assets belwctn fund5 The group Unreslricl¢d Funds Keslricied Funds Endowtnenl Fund Tot81 2023 ciii'rei?ljllr Taiigiblc fix¢d Sets 175,923 2,036,¥00 2,212,723 1.81,579 815J13 1250,OOQI 2.929,616 151,579 Nel ¢uriEiiI assets Crediiors greal¢r ihan l year 688.125 1250,0001 127.188 Ntl *55et$ 614,049 2.163,988 Unrestricted Funds Resli'icted Full(15 Endoiynienl unds Total Funds 2022 PiioryEai' Inlangible ass¢ls Tangiblc fixed llsse Invcsimcnls Nel CillTeiit &sscis Creditors greal¢r Ilian l year 201.804 2,025.942 2,227,746 138,544 1,274.593 1300,0001 138,544 440.762 1300,0001 833.831 Nct a55Ets 342,567 2,859,773 138,544 3.340,884 35-
Batli Abbcy I)Ric1)ll] Clithrth Couneil Notos to Ihc financiRI Slalenjenls (cuitliiJllEdJ l'ear endcd 31 Decembtr 2023 26b. Analyyly of ntl Rsscls betwc¢n fund5 (conlijytied) Tht ¢haiity Unreslricied Reslri¢led Bndoivmellt 2023 CiiJi'enlJYoJ' Intangible as5cts Tangible fixed asse15 175,923 2,036,80D 2,212,723 151,5¥0 813.337 IZ50.ODQ) 151.579 Nel currciil assels Creditors greater Ihlln l y¢ar Nct assets 686.149 1250,000) 127.188 612.074 2,163,988 151,579 2,927,641 Unresiricied Funds Reslri¢t¢d Funds EndONlent Total Funds 2022 Piioi'yei71' Inlangiblc assets T8ngible rtxcd 8gse15 Inv¢llmenis Nei ciirrenl ae1$ Creditors 8r¢aier than l ye4r Ntl ssCts 161,237 2.066.509 2,227,746 138,545 .272,617 1300,0001 138.544 479.353 1300,0001 793,264 340.592 2,859,773 138,544 3.338.909 27. Analysis of changes tn nel debt TIIL. givup Al l Jgn 2023 Cllsh flow5 At 31 Dec 2023 Cash ttt bBnk and in hand 1,188,625 (411,05YI 777,566 28. Opor¥limE leR5e conimilnJeNI$ The ¥ioup aDd tli¢ Lliarily Tli¢ ioial future Iniiiimum lease payrnenls und¢r nonrfaneellable 0rating leases llTe Hs follows.. 2Q23 2022 Not later Ihan l year T.aier Ilian l year aiid noi lalw th 5 years Later thali 5 years 24,473 153,146 66,000 21,973 147.640 70.000 243,619 239.613 29. Conlinktll¢lC5 Rnd commitmeM15 As ai 31 Deceiiibcr 2023, accrued in¢oin¢ of £281.483 relgling lo a graiii fTOlli HLF for ihe FoDlprint proie¢l has beert ]Ecogniscd iii the ae¢ounls. Under the lertns of the graiil. this inconK tnusl be spent the Footprillt project. Al Ilie yedr end Ilie Abb¢y had paid a deposti for LilutEical Fumitur¢ ivliich is being d¢signed und will be Inadc and delivered in 2024. Tlie lollll coiitracr valiie i5 £102,006 lioivever the final conlracl valuc may chaiige as the degigns develop. The baliiceof Ihe contrncl valuc 15 payllhle iii 2024 iii Sthge pHyJiienls. The friends of Baili Abbcy have agreed 36-
Balh Abbey ProclJi&l f.liuiYh Ctruntil Ntslts lo Ilje FiiiRllciAI Stmttments (copiliyitie) Yoar endE(131 T)t¢embor 2023 30. RelnieJ partjC5 Jcremy Key-Pit8h and Andrew BTa8B are Tru51ees ofTlie Friends of Bath Abb¢y. Diirirtg 2023 (bnaliotts of£5,411 12022 noii¢) were made by'lkn¢ Fri¢iids of Bfiili Abbey 10 Bili Abbey. Dr James Playfair is a dii'eclor ofll charily callcd R¢acliing The Uftreached. During 2023 doiiaiion5 of£2,713 (2022 none) iyere niade by R¥d¢liing Tlie lJnreachEd 10 Balli Abbey. FrBiik Mowal iscliuirofa cliDrity calleLI Bulh & Norlli Somcrsel Carers Centre. During2023 ther¢ were no fina#¢ial Iransaolion5 between Llaih Abb¢y and Daih & North r.asi Cgr¢. Calh Cftndish's spous¢ Johii 15 a Tnislee ora charity called Hope Into Aclioii. Foxliill. Diiring 2023 Balh Abbey h&d no Julia UiidEr%Yood's spous¢ Ilokrt is 01¢r of Mcti%ineiial Advi50ry Ltd and lier SI Tobias is oivner of Con¢o¢lion Theali'e. Duriiig 2023 Baih Abbey h3d no dealings Ivilh Ih¢s¢ orgsnislltlOllS. Phil Biir8e is Treasurerofihe BRilI G¢ologi¢al Society. During2023 Ilaih Abbey hlld nD d¢aling5 Iviih Ihi5of8Etrisation. Pamcla Fox is ChllirofTriuinpli overpliobia a UK nienlal health chaTity. During 2023 Batli Abbey had no dealing% ivith this ch8rsty. Evelyn Ixe-B&rbpr is R diteeior ofc¢lb Ltd Sc¢und Half Ltd. During 2023 Baili Abbey no dealings wtlh ih¢se -37-
Ball) Abb¢y P%i'ochiRI Churclj Coun¢ll Nole$ to thc fiinatyeixl Stalcments (edlitiNii) YcAr ¢nde(13A Detetnber2023 Missioij Sui)poi'l PH)'menls s4tmmry 2023 Ukr&iM¢ Monies rai%¢d Iliroiigh vi511Dr and coiigrc8aiion donation5 011 the AbY ftoor Ihmiigli the sale of lapcl ribbons. Individuls- Mi55ion Links PHI'lners xbroRd Granis 10 eiidble iiiis£toii i¥ork in Sri LRnka 1.500 3,051 Missioii Siipport P&rtner'. Wycliffe Biblc Translations Supporting. Lilera¢y projccrs and bible translation ivork ijs Canieroon llnd Togo> giving peopl¢ 1.082 Mission Support Parln¢r.' Genesis 834 Work aEMoiig Ilie most vulnerahle in Bthlli. caring in ¢ri5is llnd providing supporied polhways lo indep¢nd¢nc¢ Mission SUprt PBrtner.' Arocha 522 Advocacy? Dwgreness raisiiig, IcaEhing resDiirces foi. Bd(tr¢5siiig trnipacls of clinyate changc, advocating for inore.8uslainibl¢ Missiojj Support P&rtner'. Reachi1i8 Tli¢ Unrea¢h¢d 37 A projeLI iii S India providing honic5, healihcaie aiid schooling fur orp118114 preparitig Iliem for work llnd working iyith Mission SuppDiI Pllrlner.. Ripple £ffe¢i 910 Iraining of farmers in Zanibia lo iniprove yields and beiier ¢are lor the lllnd, advo¢aling and Iraiiiing ivomen in farming and biisine54 reduciiig exclusion Advocacy work, aiVaTeiie55 fBisiiigtr resourcing organisations lo addtess the imp&cls of moderii slavery To iniprove saIiiidiion in developiiig Missioii Supwrt PBrlnei': ljnseen UK l.(X)8 Mission SiippDrt Partner.. loilel T%¥inrtlll8 282 4,675 Totxl CharitAbl¢ givtng 7,720 TotRI Mission Links CApelture lunds de$iLknAted (ur u5t ill futlli'¢ yt* Bail) & Wells DBF re Jaiiibia- P¢iiietus1 AppBal Isr4iEI mission- Pciiie¢osl App¢al 7.726 12,550 3.849 Anglicans in our linkcd dioceses our mission in Ihv l-loly Land 16J99 16.399 AiJAly$is ofdunxiiDll5 IA)¢al 834 1,008 7.726 38-
IIRtlJ Abbey I'ai'ochifil Cliui'eli Council Note5 to the Fin#ncial Statement5 (coiiliiiiigd) Y¢Ar 31 Dere]nbL'I' 2023 Mission kSiippDI'I pAym¢DI.s summary 2022 Charitable Eiying Ukraine 11.748 Monics raiscd Ilirougli vi$ilOF ali ngTegalioii doiiations on ihe Abbey noor and Ilirough the salL ofiap¢l ribbons. Individuals- Nliysion Links l>arlne15 ably>* GraTllS lo ¢iiable Inissioii iyvrk in Sri Lank 3.063 14311 Supporting. Lileiacy projecis and bible translaiioii ivork in C8iiieroon and To¥0, giving peopl¢ mi10 SuppDrt PaTther.' Wycliffe Bible'frnnslalions 2,371 Mission Siipwrt Parther.. Genesis 1,550 Wot4( 8niong the mosi vuliier&ble IN Bath, pirth%Yays lo independence Mission Suppori Partner.. Aro¢ha 68 Advocacy, awgriiess raising, Tracliing resources for fiddre%sing impAclS ofclimate cliange, gdvocating for morc £iislainable lifestyles A pruj¢¢i iii S India providing homc%, liealiiicare and s¢liooling foi. orphans, pr¢paring Iheni forwoyk al working with Mission Suprrf)rt P8rfner.' Reaching The Unreached 2,676 Missiort Support Partner.. Ripple Effect 63 Training of fdrmcrs in 7ambill ID improve yield.4 aiid beiier carc for Ibe land, gdvocaiiiig #lid Iraiiiiiig wornen i# fattiiing Hnd biisiness, Tcdiicing excliision Advo¢aey ivork, &iVUTeiiess raising. resoiircing org#nisaiions to llddress the ijiipgcls ofmodem slav¢ry As above Missson Suppuri Parlncr.. Unseert UK 75 Mission Supwrt Partii¢r'. Aroch 50 Total Ch&ritablE glving 21,664 Totgl Mission Link5 txpellditurc Zl.664 lund.s de%iEllated for use in fului'e yeArs Elatli & Wells DBF w Zainbia- I'enlecosi Appeal Isra¢l Jnissioii Penlecosi App¢al 12.550 An8li¢an5 in our linked dioces¢s Our llllssion in ihe Iloly Land 16,399 16 Analy515 of donations Local Nlllional Intemalion 75 21,604 39-
11olh Abbey I'aro¢liiAI ChMr¢h C]1 Mfinagement Informatton I'eAr ended 31 Dtcember2023 The following pAgos do fttiiii PRrl of Ihc fil)lie191 stattm¢ntS. 40-
Bath Abbey Paroelital C]irch Council DelAileJ SIAlomonl of fiiDRncilll Activities Yo81. ended 31 Dc¢i'mb¢r 2013 2022 2023 Income L'ndowmeiils DoiLRtions Ic8X¢i¢S Visilors In the Abbey Plann¢d giving Colleclions 14S,378 244,501 678,810 189,286 38,051 20,676 19,952 280,534 IX.640 21,664 10,033 9.662 52,222 27,994 111,677 6,207 7,726 183,572 8,438 10.000 281,483 DonDliuiis organ Missioii Supporl Penlecosl appeal LegBcies I,i5ted Places of Worship Cathedral Mii%i¢ I'rusl 14erilage Loiiery Fund Oth¢r grants 308,089 986,198 1.600.918 VisiloT Rdiiiission fees Tower tOUTS 1,138.2n 267,769 187.494 1,406.041 187.494 Olhtr trAding Activities Shop sal¢% Abbey hire and olhcr fees Melody Makers 435,6ZII 247,475 5,725 380,006 189,180 550 688,820 569.736 InYc5tmettt incoln Oilier inlerc51 rerEivable 18,23 8,841 Totgl income 3.099,289 2,366.989 41
IIAlh Abbcy I'aroelJiAI Church Countil l)¢lAiled Sllemtnl of Tr'inanciAI A¢livili¢$ {colliiiiuerf) YeHr ended 31 Dceombtr 2023 2022 2023 .xp¢n¢lilure Cos15 of rai5inE donAtions Ic8acic5 Wages aiid £alari¢s Bank cliary¢8 and irttCT¢sI Oilier cus15 (191,8861 {12,5561 {3(),2931 1243,735) Costs of thlhor Iradlrt¥ clivitie Pui'ch85es WaKes and sllIBres Other costs 1180,695) 1167,527) 155,3291 1403,551} 1207,3091 {51,430) (372,658) Expenditure on cliRrit8ble activities 13.120,0411 12.00&814) I'otgj CYpe11U 13,523J921 12,623,207) Net gains1llSsc$) invc5tJnenls Ilnreali.£ed 8aiiislllossesl on investment 855ets 13,03S (18,485} Nel ¢¥p¢1tUre 1411,2681 1274,7031 42-
Bth Abbcy Pthroehlal Cljureh (.'ouncil Notes lo tlie Dctasltd StAtemcnl uf Frnncial Activilie5 Yt#r eDded 31 Dcccmbti. 2023 2022 {recIS1rjedI 2023 Cos15 of rAÉ5ing donAtions and IcgRrie5 Visitoi'.s to the Abbey Wages and salaries Baiik cliarg#y and int¢irst OihEr ¢o%l% 1191.8861 112.556) {39,2931 1243,7351 C051s of r&i5ing donfiti0s legllciey 1243.735) Costs of otlier Irading 8ctivilie5 Shop PiiT¢has¢s WBges aiid salaries Oiher costs 1180,695) 175,7301 113,6721 1207,309) {76,3101 118.7661 (270,Q971 {302.3851 Abhey liirc other fees Wllges und s&laries Olli¢r costs 188,5451 141,4481 121.8951 128.0081 1129,993} 149,9031 Sirtging foj. Schoo15 Wllges thnd salaries 13221 112.6901 Melody Maktrs Wages llnd salaries other cos15 12,9301 121b91 13.024) 14,6561 (3.1391 17,6801 Costs of tsiher ti'RdiDg activitie5 1403,5511 1372,658) 43-
BAlh Abbey PAi*clii#l Churcli Council Note5 to thc Dotail¢d SIAletncnt of fiinancial Activitios <coirfiiiii¥d) Yoar ende¢l 31 Dcccniber 2ft23 2022 2023 Irec1&5sifiedl Lxpendilur¢ chAI'itxble aetivitit5 Parish SliarB 1282,0001 {30,0001 Missioii Suppori Mi5%ion Siippvrt Visttors lo the Abbey Wag¢5 and sularies Oilier costs 13ank clillrges and itileTesi 17,7261 {21,6641 1247,3.581 140,5391 139,2761 1327,173) Oporaling eosi$ Wages und 5oIDrie5 Igi1[ance other establishment ¢osts 1166,2941 145,4431 1268,7191 1163,7921 144,5601 1480,4f 61 1343,1231 Siipporl Wugc5 aiid %alari¢s Oiliei. slarrcosis Legal & profcs5ionol otfiic cxpenses DepJECiatioJi Ilank ¢liarg¢s ld interest Other support costs 1270,7541 1200.4931 {48,0341 135.676) 163.756} 127.426} 123,7441 15f,4721 126,4291 131,6051 133,7761 126.6251 (414,9151 {441,9411 To)I'ci' tours Wage4 and salaries Olliercosls 1550(V)I 19,9411 148.9271 14,8771 {65,7501 153,8041 Mti$i¢ tosts Wagcs aiid s&l4ri¢5 Other mu£1¢ costs 1158,4571 174,2551 194.7221 1232,7121 {212.9271 IVorl( of the MiTristry WagL5 and 5alarie% Missioii wid Evangelism Clergy 149,7211 14,3n61 110,5671 19681 119,2751 162,7381 WoTship and pastoral care Communications 13.5991 15,9631 196,489) 44-
IIAtI) Abhcy Paroeliial Chuj'eli Council Note5 10 tlhe Deixiled Sl*tcment of finxneial Attlvilics (cviJrliille(l) YeHr 31 D¢eemb¢r 2023 2023 2022 r8bric MAintenanee 1148,1931 12811,6251 (148,3531 Or17 refiirbislimeni 1436,8J81 1148.3531 ArclJiYo5 Wages and %alaries Pi'ofcs5ional fets oilier Drcliivc costs IIIM221 16251 112,4471 115.2321 Faolpriiit project Wftges and salaries oo1pTinl other costs Fundraising costs 110,6641 1218,4171 129.8921 1229,0811 1212.187) Fobtprint delivery pljaie fwn¢led l)y IILF Wllges and salaries DepreciRtion Delivcry expenditure 131.4561 116.6241 1443,7681 1131.6401 (289,4511 (437,1951 1491,11481 CovtrThArttt tosts Qovcriilliice costs- accountoncy fee5 Goverii&Dc¢ costs- audit fe¢s {3.0001 112,6001 115,600) {3.0001 112,5001 (15,5001 13,120,INII 12,006,X14) -45-