CHARITY REGISTIL4TION NUMBER.. 1134081 Bath Abbey Parochlal Church Council Financial Statements 31 December 21125
BAth Abbey Proehial Churth Courttil FlnAnclal Statements Yer ended 31 December 2025 Page TTUStees' annual Tep(irt Independent audiloTS' report to the tnembet Consolidaied Stsiemeni orrinanLial activities 13 Consolidated SiateTnent of finanLial position 14 Siaicmcnt ol finaneial position 15 Consolidaicd Staicmcni of cash flows 16 Accounting policies 17 Notcs to the financial sraicmcnts 20
Btsth Abbey Prochial Churth Courttil Trustees, Annual Report Yer ended 31 Deeember 2025 REFERENCE AND ADMINISTIL4TIVE DETAILS Reglstered tharlN' name The P&rochi&l Chureh CourtLil of the ELclegiastical Parish of Bath Abbey with Si James, Bath Operating name Bath Abbcy PCC Charlty reglstratlon number 1134081 Prlnclpal ofllce The Abbey orrices 9 Kingslun Building Bath BAI ILT AudiioTS Bishop Fleming Audit Lid Bankers Naiwesi 10 Teniple BdLk 24-25 Stall Stieei Bristol Bath BAI IQF BSI 6FL SolicitOTS Clarke Willmoii LLP l Gcorgcs Souarc, Bath Street Brisiol, BSI 6BA Stone Kittg LLP Uppcr Borough Couri Uppcr Borough Walls BaihBAI IRG THE TRUSTEES The followTrng served as trustee5 of the charity during the year:_ Committee membership Thc Rcvcrcnd Guy Bridgcwatcr IRLYtor & Chairnianl Retired S¢pi¢mb¢r 2025 (Acting Rector & Chaimianl Appointed Octobcr 2025 Ex officio mcmbcr of all committccs The Reverend Chanta] Mason Ex ofticio member of all committees Thc Rcvcrcnd Evclyn Lc¢-Barbcr The Reverend Nigel Rawlinson Ex otrjcio mcmber of all commiiiccs Resigned 29 May 2026 due to Ex otlicio member of all commiiiees moi'ing roles (Abbey Mission¢r} (Vice C.hairl Ichurchw'ardenl IChurchw'ard¢nl The Reverend Betsy Blatchley Mr J Key-Pugh Mr A Bragg Mr D Babb Dr J Playfair Mr J Easaw Mrs D Cardy Mrs P Shuttleworth Ms F. Shi¢lds-P¢tt Mr R Carver Dr P Collecott Mr P Blackmore Mrs J Sktll¢tt Mr T Sheppard Mrs J Undenvood Mrs R t)ay Mr P Burge Mr D Comley Mrs C Barne5 Mr J Tl3rn¢s Ms S W¢bsper Mr T Westbrook Sranding. Buildings Standing. Building, Finance Personnel, Deanery. Standing, Finance Building Deanery Synod Deanery Synod Deanery SynoiL Building Deanery Synod Srandiiig. Finance Finance (Treasurer) Buildings Personnel Finance R¢sign¢d 28 May 2025 Co opted 20 NoVber 2025 Parish Sateguarding Offficer Secretary Mrs C Tlragg Electoral Roll officer Mrs C Bragg Executive Director Mr F Mowal
Btsth Abbey P*rochial Churth Courttil Trustees, Annual Report (Copntinued) Year eTLded 31 Deeember 2025 The members of The Parochial Church Council of the Ecclesigstical Parish of Bath Abky with St James, Bath Ith¢ 'PCC"I present their report and the financial statements of the charity Ithe"Abbey"I tor the year ended 31 December 2025. The firtartcial siaiemenis Lomply wilh Ihe Abbey's goveming doLutneni Iihe Parochial Church Councils (Powers) Measure 1956 as amended and ihechurch Represeniaiion Rules 20201 and Ihe Charities Act 2011 and hai'e been prepared in acLordance with.. thc accouniing policics sct out in ihc notcs io ihc aecounts., the re4uif¥Tnents of Chuteh ALLounling Regulaiiuns120061," the Statetnent of Recoinrnended PTaCtice oil Accounting aiid Reporting by Charities {SORPI applicable to PaTochial ChiirLh Councils within the CliutLh uf England. the FinanLial Repurting Siandatd appliLable in the UKond Republic uf Ireland published on 16 July 2014 IFRS 1021", and the ChaTities (Accounts ReFNIrt51 Re¥ulatiot15 2015 STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution of the PCC The PCC is a cotPOTate body e8tablished by the Churcli of Eii¥land aiid operates under the Parocliial ChuTch Council {Powersl M¢asur¢ 1956 as &nitnd¢d and the Chuwh RepTtsentation Rules 2020. The PCC was r¢gist¢Ted with tlie Charity Coininission with effect frorn 4th February 2010. Appointment, induction and training of trustee5 of the PCC ThL mcmbcrs olihc PCC arc clccicd In accordancc 'Ith Ihc Church Represeniaiion Rulcs 2020 at Ihc Annual Parochial Church Mcciing, M,hich is gcncrally hcld at the cnd of Ma!, and arc thc chariiy Irustws of thc Abbcy in accordan wilh scciion 177 ot'th¢Chatitics Act 2011. Occasionally m¢miKYs ot'thc PCC may bc co-optcd foraJKviod ot'oncycar. Mcmbcrs ot'thcclcrgy and Churchwardcns arc ¢x]e10 mL)nbLrs of ihc PCC. Help and farniliarisaiiun is available 10 tnembers of the PCC thTOLigh disLusl0n5 with the Rector and ChurLhwaTdens aboLlt the role and respottsibiliiies ora PCC membeT. ltt &ddilion, Ihe Treasurer proNides traitting itt undersiartdirtg PCC acLounis where necessary. Organlsatlon of the PCC The PCC generally Tneet8 Inoiiihly except during Augu4t and Decetllber. Meinbet% of the PCC aTe UUallY involved in two 'Away Days, each year ivhen PaTislI Strategy is dis¢uss¢d. All of ihL mL)nbcrs of ihc PCC givc Ihcir iimc frccly and no mL)nbcr rcecived rmuncraiion as a rcsult in ihc ycar. In OTder 10 dischOTge Ils dulles, the PCC appoinis a number of eommiiiees which meei on a regular basis. The curretti PCC commiiiees are." Standing, Finance, Ministry and Mission Support, Buildings & Fabrie and Personnel. Tlie PCC also employ% 4taff to CaTry DUI variou4 functions. The PCC takes thi% oppDrtunitytD thank the einployee of the Abbey foT the fine inanner in 'hich tliey perforni IheiT dutie% throu¥hout the year in siipport of tlie Abbey's aim to witne%s to the ChTlStian faith and alw'ays tu pruvide a warrn and welcurning environrnenl at the Abbey. Delegation of dav-tts-day Responsibilities The PCC considers that Ihe"Abbey Leadership Team" comprises the key managemeni personnel of Ihe Abbey and Ihai Ihey aTe in cliaige of running and operating the Abbey on a day-to-day b&si8. Tlie Abbey Leadership Teani ineet4 fortnightly and con%i81% of The RectOT, The Abbey Mi%%ionei. Tlie Abbey l)a%loT, botli ChurchwaTden%. the Directoi" of Mu%ic, tlie Execiitive DirectQT, Facilities Manager IpTeviDU.lY tlie Operations Maiiag¢TI, Hud of Visitor Exp¢rien¢¢ and Hud of Finan¢¢. Related Parties- Associated Charities Thcrc arc four associaicd charitics, namcly.. Baih Abbcy Chariiics Ircg. no. 2419021 whosc objcci is ihc rclicf of hardship and distrcss to residcnis of Baih, boih indiNidually and gcncrally., Chariiy for thc Upkccp and MainiLnancc ol thc Abbcy Ccmctcry Ircg. tto. 2436841, which is responsiblc for Ihc maintcnancc of Baih Abbcy Ccmcicry., Fnends o(Baih Abbey (Teg. no. 2050821 whose object is io assist Ihe PCC 10 care (OT. adorn and preserve for posieriiy the fabric of Ihe Abbey building and lis goods and omamenis., and Bath Abbey MLISIL Suciely Ireg. no. 11231181 whoseubjeLI I 10 promote n)usie irt Bath Abbey by proldIng financial support (or the choirs and oiher musical aeiiviiies and equipment. Tlieir activities dTe not incliided in these financial stdteTnentS. The PCC has a wholly owTr¢d lrnding subsidiary. Bath Abbey Lirnited Icompany numb¢T 078156961 and its activities are included in these financial stat¢in¢nts.
Btsth Abbey P*rochial Churth Courttil Trustees, Annual Report (Copntinued) Year eTLded 31 Deeember 2025 OBJECTIVES AND ACTIVITIES OF THE PCC The PCC co-operates wilh the Rector in promoting in the Parish thewhole rnission of the c.hurch- pastoral, evangelistic, social and ecumenical. The PCC sees the Abbey's mission as ivitnessing st¢adfastly to the Christian taith and proclaiming the gospel through prny¢r and preaching. through service to tlie comrnunity ot Bath and to visitors lo the C'.ity, tlirough service to those in Dttd beyond the Liry of Flath and through careful st•vardship of the Abbey'5 heritage of ¢xc¢ll¢nc¢ in its worship and in its fabric. The Abbey also conlributts io the spiritual and musical educaiion ot'young people in the local area by ini'iting ihem to take parl in the Easter Exp¢ri¢nc¢ and through ils choirs. The PCC has consid¢r¢d and had r¢gardto the Charity Commission's guidance on public b¢n¢fil. Voluniccrs play a vital rolu in the lifL of the Abbcy. Throughout Ihc wcck voluntCLrs wcleomL visitors and congrcgations, scrvc in the shop, OTrange floweTS, assist with seTViLes, WOTk with Lhildren yOLing adiilis and ring the Abbey bells. Volunteers also help 10 courti. record and safely siore Ihe cash received Ihrough the colleciion boxLS each week. MOTC than 260 people are inl'olvcd in Ihc Abbcy as aciivL volunicus and wc would Iikc 10 takc Ihis OPPOnuniiy to Ihank thcm for Ihcir valuablc contribution. SAFEGUARDING The PLC has complied with th¢ duty under section 5 of th¢ Safeguarding and Clergy Discipline Measure 2016 to haw¢ Tegard to House of Bishops. (iuidanc¢ on feguTdlng children and vulnerable adults. ACHIEVEMENTS AND PERFORMANCE OF THE PCC Baih Abbcy is first and forcmost a living church- a plaec of worship for our congregaiion and visttors whcrc Ihcy can comc and aiiend a seTvice, Iisien 10 beautiful choral music and where Ihey Can leam aboiil Ihe good news of Jesus. The Abbey also simuliane4)usly serves several other roles including.. A focal point foi. civic ¢v¢nts sucli as Mayor Making and Rtm¢mbT&nc¢ S¢rvic¢s A visitor attraction and culwral heritage treasure enjoyed by hundreds of thousands of visitors each year A plac¢ where people from th¢ city of14atli and beyond can gather for events such as exliibitions, concerts. talks and graduation c¢r¢moni¢s An oasis foT PTivat¢ prayer and stillness in the ¢entr¢ of a bustling ciry Over r¢c¢nt memory th¢ Abbey has had io cop¢ wilh operating through th¢ Footprint Project construction pha5e16 y¢arsl', through the global pandemic and then, following Ilie pandemic. operating tlirough the cost-of-living crisis. rising energy costs and fast ri.4ing wage Cost4 (National Iiisuraii¢t and Natioiial Living Wagel- 11 h&$ been a hard to pr¢dicl aiid financially ditTicult P¢Tiod, and this still i¢rnain.4 the case as we enter 2026. In S¢ptemb¢T 2025, the R¢vd Guy Bridg¢wat¢r and his wife Jeb5 retired after 7 Yea service at the Abbey. In October 2025 Revd Chantal Ma8on, Abbey P&%tDT wa% appointed Acting RectOT and we started the recn]itinenl PTocess foT our n¢w Abbey Rector. W¢ hope to have a new R¢ctQT installed by August 2026. W¢ ar¢ pl¢as¢d and PToud lo report the following a¢lii¢v¢in¢nls during 2025 Over 6,000 peuple attended our Cliristmas Shoppers CaToI 820/0 of our 4taff coinpleled our 2025 staff engagenient SueY. We will LE WOTking thr()ugh the action plan in 2026. We launched our new"What's-On" brocliute In July we 3ppoinl¢d our new Abbey Mission¢r- R¢i'd Betsy Blatchl¢y W¢ began our Meinorials repair and conservation programme We compl¢t¢d the fundraising tor a new St Alph¢ge Stained tilass Window 46 school and college visiis tor 1,533 swdents between the age ot'3 and 18, including Easter Experience lup from 40 visits in 20241 17 community aciiwiiics for groups including Ihc Carers ccntrc, Involving 446 participanis. 13 family Cvcnts wcrc hcld, including Lilllc Abbcy Explorcrs, for 1,170 participanis A iempordry exhibition of fashion designs inspired by Ihe Abbey and creaied by Bath College students in the Souih Transcpt
Btsth Abbey Prochial Churth Courttil Trustees, Annual Report (conlinued) Yer ended 31 Deeember 2025 ACHIEVEMENTS AIYD PERFORMANCE OF THE PCC tontlnued We welcomed S year 6 pupils from Baih Archdcanry to their Diocesan Moving Up services We hosied the swnlling Pcacc Doves Exhibiiion and held special events, seri'ices and concerts under the 'doves', whilst also hosting the 'Collal¢ral Damage Door., a poignant art installation by Robert Marshall featuring a bomb damaged front door from a home in Ukraine. Th¢s¢ installations marked the season of Remembrance 2025 in a powerful 'aY Int¥Ynaiional and local visitors cnjoycd our cxiraordinary array of 'Austcns at ih¢Abbcy' cvcnis and iniiiatii'cs. And 750 visitors joined us for a very special Sung Eucharist in costume. PCC Plans for Future Periods In 2020, the Revd Giiy Bridgewaier. Ihe Abbey's Rector unveiled the Vision and Mission Aciion Plan for Ihe Abbey for Ihe PLYiod 2020-2026. Thc Mission Action Plan sci oui Ihc annual focus for Ihc Abbcy ovcr Ihc 6 ycar pcriod, in linc wilh pursuing its i'ision. During 2025 ihc focus for Ihc Abbcy was"Tcaching" This involvcd thc following initiaiivcs.. Continuing to panner wilh Baih Wclcomcs Rcfugccs to h¢lp thcm dclil'cr wcckly English Icssons at Ihc Abbcy and to hclp thcm form a small communiiy. Delivering Ihe Easier Experienee to schools aLross the BANES area, especially Ihe under-sern'ed schools. Deliveting LTrUT Aiistens dt the Abbey prugramrne of events Deliveting OUT Peace Doves pwgramme of eNents Irt 2026 our focus is Transrorniaiion. This year we are giving special aiieniion io". Our Abbey teaehing.. Across ihc lifc olihu Abbcy wc arc rcfle£iing on issucs of Justicc and pcacc. t)uring Lcnt we will begin a neiv Sunday sernion series which will be baged on the verse Micah 6..8 which focuses on Jusiiee, Mercy and lii'ing out Humility. 'Whai dots ihe Lord require ot. vou,. To act jusil! and to lovc mcrcy and 10 walk huinblN' 1th your God'- Iii addition. our tveiiiiig Leni coiirse .111 be d15cussiiig tlieniesofjusticeihrough the creative and topical work of the London Institht¢ ot'coniemporary Christianity in weekly online discussion t0M5, including such iopics as.. 'Shaping Culiurc'.'The Common Good., and'Ewwday Eanh Kccping,. Elcctoral Roll a]Jd avcragc weekly attcndancc The nuniber of P¢Tsons on the el¢ctorg1 roll as at 31 D¢c¢mb¢r 2025 was 346, coinpared with 461 at the end of th¢ previous year. Tlit drop in electoral Tole numbers in 2025 w&s due lo a ¢ornpl¢te Tenewal of tli¢ ¢l¢¢toral roll data, which always results in a large drop. The averag¢ weekly attendances at services, including visitors, during the year M'as 1,05712024- 8481.
Btsth Abbey P*rochial Churth Courttil Trustees, Annual Report (Copntinued) Year eTLded 31 Deeember 2025 FINANCIAL REVIEW In th¢ ytaT ended 31 D¢¢etnbeT 2C)25, Batli Abbey Icombintd PCC and Lid Company) incurrd a n¢1 tradiiig d¢ficil of £2k after iliCUTring a depreciation charg¢ Df £23.3k. This trading deficit excludes Tt.4trict¢d incoine and ¢xpeiiditt]r¢, and Ilie ignificant donation received ftotn a local generou£ philanthropi4t couple. If one includes Ihe%e iteni8, the Abbey PToduced an overall net sutplus of £1.7niillion. Our trading p¢rtorrnance was disappointing as w¢ had budgeted lo generate a net surplus of £137k. The main reason w'hy w¢ failed to acliieN¢ our budget was that our visitor numbers declina on the previous year, which we attribute to the ijnpact of the cost-of.living crisis. Tht fall in Abbey visitor numbers was similar to that ¢xperienc¢d in other visitor attrgctions in Bath a5 We are pleased to report Ihe following achievemenis in 2025.. We repaid OUT Diocegart Loan a year early. W¢ fully paid our B¢n¢fi¢¢ SII&T¢1£310 2kl. Wc rcccivcd a significant donation from a local gcncrous philanthropisi couple. Towel Tours (Citossl Incoine reached a Tecord level £281.2k Abbey hire and Other Fees reached a record £277. Ik We raised sufficient funds {with the help of The Friends of Bath Abbey} to fund the design and installation of a new stained-¥las5 winduw, w'hiLh will be dediLaled Iv Si Alphege. We successfully introduced new systetlls and processes including t)ojo, Digitickets and DP Solutions which are saving us lime and money. The Abbey land in fairness most organisationsl has been operaiing in a difficuli eeonomic enl'ironmeni for Ihe lasi 5 years {Ihe pandcmic ycars 012020-2022 havL then bccn folloivcd by thL Ukrainc ivar and Ihc rcsulting cosi-of-living crisis 2022-curr¢nt year, as wcll as signifjcant incrcascs in Naiional Living Wagc and National Insuranccl. Whcn prcparing our budgci for 2026, wc havc cautiously sUm¢ a coniinuing dcclinc in visiior numbcrs, and a risc in Naiional Living Wagc cosis. Hoivcvcr wc have still been able 10 forecasi a small surplus for 2026. We would like to lak¢ this opportunity to thank our amazing teatn of Volunte¢ lincluding our chaplains. chur¢hward¢ns and PCC rnembet£l, staff alld clergy for IheiT continued sUprt and comrnitmelll thToughout 2025 and beyond. Thank Youl Pay Policy Tlie Abbey 1% COTnniitted to paying all taff at least the National Livillg Wage. In recent years we have 4een the Natiollal Living Wa¥e rise frotn £9.50 per houT (Aptil 2022110 £12.21 per houT IApTiI 20251, a 280/0 increase over 3 years. Staft'pay is also regularly reviewed land benchmarked against pay in other similar organisalionsl by the Abbey's Personnel Commiiiee. In April 2025 all Abbey reLeii'ed d pay award of between 20/D 6.70/0 Wlth those staff who weTe on 01 close lo National LiTring WA¥e reLeiNin¥ the hi¥hest incteages.
Btsth Abbey P*rochial Churth Courttil Trustees, Annual Report (Copntinued) Year eTLded 31 Deeember 2025 Fixed Assets The current i'alue ot'the Abbey's freehold properties is believed to be considerably in excess of the bwk value of £2.131,897., the PLC does not consider that a revaluation is necessary at present but is keeping the situation under regular review. Reserves Policy Bath Abbey requires Reserves to carry out its mission, together with the upkeep ot its buildings. In accordance w'ith Charity commission guidance. Reserves are calculated as unrestricted fvnd5, adju5t¢d for both fixed assets and t1105e tunds designated for esseiilial futur¢ spending. The required level of Reserves is d¢t¢nnined with reference to 14ath Abbey's 2026 budget, a longer-lerm budg¢i and Bath Abky's risk r¢gist¢r. Bath Abbey'8 ReseThie% Policy require4 Ilath Abbey to hold £ufficient Re8erve8 foT working capital Tequiretnent£, the perceived risk to Bath Abb¢y's income and unfor¢s¢¢n costs whicli rnight arise. Risks gssociated 'Ith any decr¢as¢ in inl¢rnatioiial travel will liave iliCTu4¢d following th¢ ouibr¢ak of war in the Middle East. Using thi8 calculation, Bath Aby'.4 tnininiuTn level of ReseTves .4hould be £1,192k, which repie%eiits circa 5 tnonths of plaiintd unrestrictd ¢xp¢nditur¢. Re8¢pJ¢s would not be ¢xp¢ct¢d to ¢x¢e¢d a l¢v¢l of 9 months of planned unr¢strict¢d ¢xpenditUTe. As at 3181 Deceinbei 2025, Batli Abbey held £603k of Re8erves, which equates to 2.6 tn0ntl1 of planned Un[etTIcled ¢xp¢nditUT¢. The significant donatioii refeed to within th¢ Fiiiancial Revi¢w lias bten the 4ole Tnwn for th¢ increase frotn 2a24's level of 0.9 nionths. Without tlial doiialion, Baili Abb¢y would haTr¢.4hown & L23k.4urylus (Total Pundsl QT a L2k d¢ficit IUiite£tricled Fund.41. Th¢ bulk l£1.3inl of that donation has b¢¢n d¢signat¢d as a contribution to the r¢rn¢dial works T¢Y]UiTed by the quinquennial Teview of the fabric of Bath Abbey. Resee5 teinain £589k below the level that is consideTed as a tninimuTn. Bath Abbey has a longei-teTtn budget which envisage£ 8UTpluse8 over the 5 yeaTS 2026 to 2030. Achieveinenl of that budget should enable Bath Abbey to build ReseTves to a level of 5 nionths of Plned unre8lricted expenditUTe. The p(155ible benefit fTUtn [eglIeS in the Lurning years will be irnpurtant to Bath Abbey fulfilling its miggiun, alungside the Tetnedial work Tequired as a Tesult of the quinqueniiial Teview. Ithvestmertt Poliey Biiih Abbey dues not hold gignifiLant long-iertn funds. Cash balanLes 1£2,305kl should be Lovered by the FCSC deposit uarantee %cheine or, if in exce%% of £120k, &hoiild be deposited with an iii%titulion which hold8 a credit Tating of al least single A or equivalent. Cash balances wIIiLh ale not ieciuired fur day-lo-day opeTatioii should be plaLed in interest beJTiiig JLLuiints'. The orte lortg-iemi endowment which Bath Abbey has held {£148k) has rtow been Teclagsified from Ertdowtnenl 10 Resiricied nd the investtnent has been reali5ed. AccoTdin¥lyy Bath Abbey now has zero exposuTe to Equity Risk or associated ethical Tisks. The Head of Finance mottiiors ihe cash position and cash flow projeciiollg and reports 10 Ihe Finance Commiiiee ai each Tneetiiig. Art artrtual review of compliance with Bath Abbey's Investment Policy is presertied to the PCC for the assurdrtce of the ITUStees.
Btsth Abbey P*rochial Churth Courttil Trustees, Annual Report (Copntinued) Year eTLded 31 Deeember 2025 Principal Risks Uncertainties Thc PCC has rcvicwcd Ihc risks facing Ihc Abbcy and ils trading company and considers thc mosi signifjcant 10 bc thosc showi below, iogeiher wilh Ihe aciiotts iakert 10 miiigaie Ihem. As ai 31 DecembeT 2025 the Principal Risks that Ihe Abbey faced are shown below". isk litigations lie Abbeii remains below its Illinirnurn r¢s¢rv¢s figure and has been struggling to grow s¢Thi¢s as small op¢i7lional losses h&wt b¢¢n incurr¢d in recent years. That ld, in 2025 e liave 8een iTllpTDiiement8. We receiTred a significant donation and our finaiicial erforrnance inipToTred on the previous year. We al%0 fully repaid early our loaii from he Dioc¢4¢ and w¢ await receipt of a liDu4e le legary lexp¢ct¢d in 20271. In 2025 w¢ l%0 foTtned a iiew Bu4ine8s Developnient Tearn w'hose purpo8e is to identify and mpletnent additional incunie St[5 I cost savin¥ initiatives. In 2026 we bud¥etin¥ tnLTrdes1 uperalivnal siirplus. Pe171ioiial Losses and nsuffici¢nl ReseTves Safeguarding breach l incident new Pari81i safegllai.ding Officer wa£ appoinl¢d in 2025 and 1% making a significant n£itive irnproveineiil. 8ignage aiid CC-I-V ha£ also increased More IiTne is being 8pent y th¢ Abbey Leadership Team and the PCC.. discussing fegu3Tdig and increasing nowled e1awaTene.8. ¢ continue lo experience probltnis with tli¢ functionality of th¢ energy blades. A new et hai'e been design&1 with specialist help ivhich we teel will address the issues erienced so far. We are lookin to install in Ma 2026. 'c llo, hav¢ a well cstablishcd Youth & family millisicr ,hO is actii'ely growing a &F Lommuniiy within Ihc AbbLy. Wc also had a ncw Abbcy Missioncr stari at ihc bbcy in July 2025. Morc timc and rcsourcc is bcing focuscd on attraciing and cTrclo In outh and tamil rou e ate aLlively ILTroking Iu IllCTeage uur unresiTicied reser%'es oveT the next few ye&TS 50 hai Ihey exceed £1 tn whiLh would help lis 10 cope wilh a major event. c have increased CCTV colerage across the Abbey and arc iniroducing miiigaiions via ur Mariyn's Law planning. Thcsc includc.. Annual circulaiion of Run Hidc Tcll and HOT proiocol. Introducing random bag checking Tncr¢ased training We haiie introduced Signage Te large in the Abbey TeTtotist AltaLk Tisk assesstnenls Tabel To exercises wilh ALT, Visiior Serviees n¢rgy Blade Huting System g¢ing congregation, declillillg in umbcrs us5ibilily of anuiher tnajoi event cg pandLmic, Icrrorisi aiiaek, ajor disasicrl
Btsth Abbey P*rochial Churth Courttil Trustees, Annual Report (Copntinued) Year eTLded 31 Deeember 2025 FuDdraising Since March 2023 th¢ Abbey has charged an Adrnission Fe¢ which in 2025 stood at £8.00 per adult. That said, w¢ r¢rnain free to enter if you ar¢ a local r¢sid¢nt, vi4iting to corn¢ in and PT&y or attending a s¢rvic¢. W¢ continu¢ to accept donations in rnsh and via card acquiring machines in th¢ Abbey and from S¢Tvice collections. Throughout October each yT our Sermons focu% upon %tewaTd8hip, encouragillg people lo think about how they can use theiT tirne. lal¢nt5 and money lo support the Abbey's Mission Action Plan. Around 54'/o of the m¢rnb¢rs of tli¢ congregation participate 111 QUT Planned Giving sch¢mt and in 2025 w'¢ r¢ceiv¢d L253k for which w¢ are very grateful. We Trf¢iwd Itss via Planned Cill'ing than tht previou8 year Iwliicli 14 a SiTnilar Irtnd to Dther churches in Ilie Church nf England) and we attribute tlii% decline to the co%t-of-liviiig crisi% and ho. Iliis has adveTsely iinpacled ino£t people in the UK and beyond. The Abbey ¢rnploys an exp¢rienc¢d part-tirn¢ Fundraising & Bu8iness Developrn¢nt Manag¢T tQ Taise funds and when Tequited. During 2025 our Fundrai.4ing and Busine££ Developineiit nianager rai8ed £150k for the de4igii, Tnanufactt]re aiid in%lallalion of a new Stained-CJl&%% Willdo. that we wi%h to in%tall in Ilie Abbey wliich will be dedicated to Si Alphege. We would like to lake this opportunity lo tliank Th¢ Friend4 of Bath Abbey forth¢ir g¢n¢rous wntribution towards this fuiidraising initiative. Additionally, duriiig 2025, we received a very large donation fTom a local p1iilanthpl%I couple. Theym'ould like their donation to help fund the i'ariuiis projeLts that we have planned oveT the next 10 years, inLluding the replaLeinenl uf our lead ruofs. We 'Duld like to take thi8 opportunity to tliank thi£ couple foT their geneTo8ity aiid 8upport. The Abbey takes all complaint5 5eTiously and in 2025 we received no cornplaints about our fundraisin¥ activitie5. STATEMENT OF RESPONSIBILITIES OF THE TRU8TEE8 The rnernbers of the PCC, as the Lharily ITUSlees, ttre responsible for PTeparin¥ the Pec's TTUStees' Annuttl Report the finanLial slalernenls in aLLOTdanee with appliLable law and reguldiions and United Kingdom Accounting SidiidaTds (United Kingdotn Cienerally Accepted Accoiintin¥ Ptacticel. The law oppliLable to Lharities in England and Wales requiteg the rnernbers LTrf the PCC to prepare fiiianLial slateTnents fuT each finanLial year whiLh giTre a ITue and fair view of the state of affaitg of the Abbey and of the inLoming restiLirces appliLaiion of Te5Oue5 of the Abbey foT that PeTiod. In preparing these financial stalernents, the TneTnbeTS of the PCC are required to.. select suitabl¢ accounting policies and then apply th¢iK consist¢ntly', obs¢rb'¢ the Ineihods and principles in the ('.h3rilies SORP; makc Judgcmcnis and aeeouniing cstimaics that arc rcasonablc and prudent; prepare the finLI1 statements on the going conLern basis unless it is inappropriate lo presutne that the Abbey will conlinLie in operaiiun. The members of Ihe PCC are reswnsible for keeping proper aecounting records Ihai disclose with reasonable accuracy ai any iimc thL financial position of thc Abbcy and cnablL thcm 10 cnsurc thai Ihc financial siaicmcnts eomply wilh thc ChariiiLs Act 2011, the ChaTily (Accounts and Reports) Regulaiiuns 2008 and Ihe provisions of Ihe Abbey's eonsiiluliLTrnal doLutnenlS. They aTe also responsible for safeguarding the asseis of the Abbey and hence for iaking reasonable steps for Ihe prevertlion and deieciion of fraud and other irregularities. Signed on behalf ofthe Trustees Thc Rcvcrcnd Chanial Mason Aciing Re£ior of Baih Abbey Date.. 7.5.26
Btsth Abbey Prochial Churth Courttil Independent Audltor's Report to the Members of Bath Abbev Paroehlal Church Councll Yer ended 31 Deeember 2025 OPINION We have audited the financial siaiemertis ofBaih Abbey Parochial Church Council Ithe'ChOTily'l and itssubsidiary lthe'Group? for Ihe yeaT ended 31 Deeember 2025 whiLh comprise Ihe Consolidated Siatemeni of Financial Aciiviiies, Ihe Con8olidaied Balancc Shcci, Ihc Charity Balancc Shcci, Ihc Consolidaicd Siatcmcnt of Cash Flows and thL rclatcd noics, including a SUTntnary of significant accounling policies. The finanLial reporting frarnewoTk thai has been applieli in IheiT preparaiivn is applicable la. and United Kingdom Aceouniing Siandards, Including FinanLial Reporting Siandard 102 'Thc Financial Reporting Siandard applicable in the UK and Republic olIreland' (Uniied Kingdom Generally Accepted Accouniing PraLticel. In our opinion the financial siaiements.. give a trL]¢ and fair view of the state of the GTQUP'S 2nd th¢ Charity's affairs as at 31 Dtc¢rnb¢r 2025 and of the CJfoup'% iliCDTning Te4ource% and application of TesDuTce.4, including it4 income and expenditure for the year then have been properly prepared in accordance wilh United Kingdom Generdlly Accepted Accounting Practice; and have be¢n prepared in accordance with the requirements of the Charities Act 2011 BASIS FOR OPINION We coiiducted our audit in a¢coTdanc¢ with Inl¢rnational Standards on Auditing (UK) IISAS (UK)) and applicable l&w. OUT responsibilities under those standards are tiirrlier described in the Auditors, responsibilities for th¢ audit of tlie financial stalern¢nts section of our report. We ar¢ independent of the GTOUP in accordance with the ethical requireinents that are relevant to our audit of the finaii¢ial 5tal¢in¢nls in th¢ Uiiited Kingdom, including the Financial Reporting Council's Ethical Standard, and wthav¢ fulfilledouroth¢i-¢thical respoiisibililit.4 iii a¢coTdance witlith¢s¢ r¢quir¢rn¢nts. We beli¢v¢ that die audit ¢vid¢iict we have obtained is sufficient and appropriat¢ to provid¢ a basis for our opinion. CONCLUSIONS RELATINC TO GOIG CONCERN In auditing the financial statements, we hav¢ concluded that the members, use of the going concern basis of accounting in the PTePaTation of the financial stal¢m¢ntS is aPPTopriat¢. Based on the WOTk 'e have peTfDTtned, we liave identified aiiy tnaterial uiicertaintie£ relating to event4 OT condition£ that, individually or collectively, Illay Cast significant doubt on the Group or Ch&rity's ability to continue as a going concern for a period of &t l¢asl twelv¢ Inonihs frorn wh¢n th¢ financial.4tal¢m¢nLs 3r¢ authorised for issu¢. OuiTe4pon%ibilitie% and the re.4poii£ibilitie% of the tlletllbeT With respect to going concetn are de8cTibed in the Televant.4ection of this r¢port. OTHLR JNFORMAI"JO Tlie ineinbets are Tesponsible foiihe oiherinfortnation. The other infomialion cornprises the inforrnatioii included in the Aniiual Report. other than the fiiiancial £tattTn¢nt8 and our Auditors. Report tliereon. OUT opiiiioii on the fiiiancial statenients does not cover the otheT infortnation and, except lo the exleiil otheThvi4e explicitly 8lated iii our report, we do iiol expre.8 any fotm of assuTJnce conclii%ion thereon. In connection witli QUT audit of the financial slateTnentS, OUT Te4pon%ibility is to read the other infomialion aiid, in doing con%ideT .hCtheT the other informatioii 1% niateiially incon4i%tent witli the fiiiancial %latenient8 OT our knowled¥e obtained i the audit or otherwi%e appear% lo be tnateriJlly Tni%%ldted. If we identify %uch inalerial inconsi%tencie% OT appareiil tnaterial issldtetnenls, we dTe required to deteTmine w'hetheT there is a inalerial nii5slalenienl in Ilie finCIal slatenients 01 a nidteTial Tni££tatenient of the Diher infoTtnatinn If, ba£ed on the WOTk we have perfomied, we conclude that there is a rnateTial i%%tatetnent of this otheT infotmalion, we are Tequited to Teport that fact. We have nothin¥ to Teport in this regard.
Btsth Abbey Prochial Churth Courttil Independent Audltor's Report to the Members of Bath Abbev Paroehlal Church Councll (contiNued) Yer ended 31 Deeember 2025 MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knowledge artd urtdeTsiartdirtg of the Group and Charity and ils environtnerti obtained in the Course of the audil, we have not ideniified material misstt)temenis in Ihe Annual Report. We have rtothirtg to Teporl in respect of the follo.in£ maiieTS in relation 10 whiLh we 10 report to you if, in ouropiniort.. th¢ Charity has not k¢pi adequat¢ and sufficient accounting words, or returns adequate for our audit have not been r¢c¢iv¢d frorn bTanch¢s not visited by us,. or the Chlty findnLidl slalementS dTe nut in agTeement with the accounting CO[d5 TetutnS' 01 we have not received all tlie infomiation and explanations we require for our audit. RESPONSIBILITIES OF MEMBERS As explained more fully in the member's responsibilities stalemellt, the members are responsible for the preparation of the financial statemeiits and for being salisfi¢d that tliey give a iiue and fair N'ieiv. aiid for such internal control as the membe dettrmine is necessary io enable the preparation ot. fillancial statements thai are trtt from material misstatement, wheiher due to fraud or error. In PTepaTing the financial 5tat¢rn¢nts, the members ar¢ r¢sponsibl¢ for assessingthe Group'sand th¢CThaTity's abilitytocontinue as a going conc¢m. disclosing, as applicable. matters related to going concern and using tlie going concern basis of accounting unless the members either intend to liquidate the tiroup or tli¢ Charity or to cease operations, or have no realistic alternative but to do so. AUDITORS, RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether tlie financial slat¢ment5 as a whole are fr¢¢ from rnaterial misstateinent, whether du¢ to fraud or error. and to issue an Audito, Report that iiicludes OUT opinion. Reasonable assurance is a high level of assuranc¢, but is not a guarant¢¢ that an audit conducted in accordance with ISAS IUKI will always delect a materigl misstal¢m¢nt when il exists. Mi5slat¢m¢nt5 can arise from fraud or error and ar¢ considered materi81 it, indiTridually or in the aggr¢gat¢, they could reasonably be txpecl¢d to influenc¢ th¢ ecoiiomic decisions of US¢TS taken on the basis of th¢s¢ financial stateinenls. Irregularities, including fraud, aTe instances of non-compliance with laws and r¢gulation5. We design PToc¢dur¢s in line with our Te5p)nsibiliti¢s. outlined abov¢, to d¢t¢ct Inaterial Inisstatetnents in Te5P¢Ct of irr¢gulariti¢s, including fraud. IdentifyiTJg asse$5ing potential ri5k5 relaled to irregularitie5 Th¢ extent to which our proceduT¢S ar¢ capable of d¢l¢cling iTr¢gulariti¢s. including fraud is d¢tail¢d below.. Wc have considcrcd thc naturc of thc sccior, conirol cnvironmcnt and fjnancial pcrforniancc,. We hai'e considered th¢ results of enquiries with manag¢m¢ni and mernbers in relation to their own ideniificaiion and assessment ot'the risk of irregulariiies within the ¢niiiy; and We have r¢vi¢wtd tlie docurn¢ntatitJli of k¢y proce4ses aiid controls and P¢TfoTined walkthToughs of traiisadions to coiifiTtn that the %yslern% are opetatiiig iii line .1111 docurnentation. Foiany tnallers identified we liaveobtsinedand reviewed the Group's docutnentalion of theiipoliciesand procedures relating lo-. idcntifying, cvaluating, and complying with laws and rcgulaiions ivhcihcr ihcy wcrc awarc of any instances o(non-complianee', detecting and responding to the risk of fraud and whether they have knowledge ot. actual, suspected, or alleged fraud,. and the inteTnal control4 established to Tnitigate the Ti£k of fraud 01 non-compliance with laws and tegulation8. we have consideTed Ihe matiers discussed among Ihe audit engagemeni ieam regarding how and where fraud might occur in the financial staMentS and pottl1a1 indicators of frdud. io-
Btsth Abbey Prochial Churth Courttil Independent Audltor's Report to the Members of Bath Abbev Paroehlal Church Councll (contiNued) Yer ended 31 Deeember 2025 Identlf)'Ing and assesslng potentlAI rlsks related to Irregularltles &tIned As a result of these procedureg, we have eortsidered the opportunities and irtLentives thai Ttydy exist within the organisatiort foT frdud and identified Ihe highesi area of risk 10 be irt relation to revenue recogniiion, wilh a parlicular risk in relaiion 10 year- end cut off. In Common with all audiis undcr ISAS IUKI wc arc also rcquircd to pcrlorm SPLYific proccdurcs io rcspond to Ihc Tisk of martagemeni override. We have also obiained undersianding of Ihe legal and regulaiory Irameworks that the Group operates In, focusing on provisions of Ihosc laws and rcgulations ihai had a dircci cffcci on thc dctcrminaiion of matLYial amounts and disclosUrL in Ihc financial siaiemenis. The key laws and regiilaiions we considered in Ihis coniexl included the ChaTllies Aci 2011, Chariiy SORP 2019, FRS 102 and the terms and conditions aitaching 10 material grants received by Ihe Chariiy. In addition, wc considcrcd thc provisions of oihcr laivs and rlgulations that do noi havc a dircci effcci on ihc financial siaiements but Lompliance wilh which may be fundamenial to Ihe Group's abilily to operdie oravoid a maierial penalty. These includcd data proicciion rcgulations, hcalth and safciy rcgulations and cmploymcni Icgislaiion. Our procedures to respond to risks identified included the following.. Revieiving the financial siaiemeni disclosures and iesiing to supporiirtg doeumeniaiion 10 assess eompliance wilh prol'isions of relevant laws and regulaiions described as having a direci elfect on Ihe financial staiemettis., Pertorjning ana11¢al procedures to identify unusual or unexpected relationships that may indicate risks of material misslat¢ment due to fraud., Reiii¢wing board mttting minutes., Enquiring of management in relaiion to actual and poieniial claims or litigaiions,. Performingdetailed tran¢tIonal l¢sting in r¢lation lo the wognition of reN'enu¢. specifically grants.with a particulaT focus arouiid y¢ar-tnd cul off., and In addressin¥ the risk of fraud Ihrou¥h management override of eonirols, testing the aPPTOPTiaienesg ofjouTnal enlnes and oiheradjusimenls,- asses&irtg whether Ihe judgtnertis made In aLtouniing esiirnates are indiLaiive of potential bias-, and evaluaiing the business raiionale of significani irdnsaciions Ihai are unusual or outside ihe normal course of busincss. We also eommunicaied Identified laws and Tegulaiions and potential fraud risks 10 all members ofihe engagement team and remained alert to possible indicaiors of frdud or non-compliance with laws and regulaiions throughoui Ihe audii. As a rcsuli of thc inhcrcnt limiiaiions of an audit, thcrc is a risk (hat noi all irrcgularitics, Including a maicrial missiaicmcni in financial siaiemenis or non-compliance wilh regulation, ,111 be deiecied by us. The risk increases Ihe furiher removed compliancc with a laiv and rcgulaiion is Irom thc cvcnis and Irdnsaciions rcflc£tcd in Ihc financial staicmcnis, givcn wc will bc Icss likLly 10 bc awarc of it, or should Ihc irrLgularity occur as a rcsult of fraud rdthcr than a onc off ttror, as Ihis may involv¢ inicntional conccalmcnt, forgery, collusion, omission or misrcprcscntaiion. A furthcr dcscnption of our rcS[n$ibl]l1i lor the audit of Ihc financial siaicmcnts is located on ihc Financial Rcponing Council's wcbsiic ai.. wryv¥.frc.0rg.uaudilor8rcs1x]nSibilItICs. This dcseription forms pari of our Auditors, Rcpon.
Btsth Abbey P*rochial Churth Courttil Independent Audltor's Report to the Members of Bath Abbev Paroehlal Church Councll (Copnilnued) Year ellded 31 Deeember 2025 USE OF OUR REPORT This report is madc solcly 10 Ihc mcmbcrs, as a body, In accordancc 'ith scciion 144 of ihc Charitics Aei 2011 and rcgulations madc undcr section 154 of Ihai Aei. Our audit work has bccn undcnaklm so Ihai wc might siaic to Ihc mcmbcrs thosc mattcrs wc arc rcquircd to staic 10 thcm in an Auditors, Rcport and tor no oihLY purposc. To ihl fullest cxicni pcmiittcd by la,. wc do not acecpt or assumc rcsponsibility to anyon¢ othcr ihan ihc mcmblrs. as a body, for our audii work, for this rcport, or for thc opinions wc haNc formcd. Chris TrathaM FCA (Senior Ststutory Auditor) for and on b¢halt'ot' BistLOP Fleming Audit Ltd c.hartered Accountants Statutory Auditors 10 Temple Back Bristol BSI 6FL Date. 14.05.2026 Bishop Fleming Audit Ltd is eligible to act as an auditor in terms ot section 1212 of the Companies Act 2006 12
BAth Abbe> Proehlal chUh Coun¢ll Consolidated Statement of Fin#ttcial Attivities Yer ended 31 December 2025 2025 2024 un[etTicled fiinds Restricted fi]nds Endowtnent funds Total furtds Total funds Note Income enduwments Dunatiolls legacies Charitable aLliTrilies Oiher ITading aciiNiiies Investnienl InLurne 2,042,121 ,711,762 746,449 72,075 136,265 2,178 J86 ,711,762 755,186 76,383 388.335 1,658,888 777,773 18,323 8,737 4,308 Total Ineome 4,572,407 149,310 4,721,717 2,843,319 Eipenditure Expenditure on raising tunds.. Costs of other trading 1530,140} 17441 1530,¥1$41 1546,929} xp¢iiditur¢ on chaTilabl¢ 12,323,8521 1117,9261 12,441,771$) 12,407,8.141 Total expenditure 12,853,992) 1118,670) 12.972,6621 12,954,763} Net Iloss¢sVgains Oll investments io (6,1981 (6,1981 3,469 Nct in¢omcJlcip¢nditure) 30,640 {6,1981 ,742J57 1107,975} Translcrs bctwccn funds 15 148,850 1148,8501 Net movemeTLt in funds 179,490 1155,0481 ,742J157 1107,975} Reconciliation of funds Total fund4 brought foni'ard TotAI (unds tArried foryiard 594.789 2,071,804 155,04S 2.821,641 2,929,616 2,313,204 2.251,294 4,$64,498 2,821,641 The statement of flnancial activities includes all gains and losses recognised in the year. All income and ¢xpcnditur¢ derive from continuing acliwilies. The notes pages 18 to 35 form PArt of these finAnclAI statements. 13-
Bath Abbey Prochial Churth Courttil Consolldated Statement of Flnanclal P051tio 31 December 21)25 2025 2024 Note Fixed 255ets Tan¥ible fixed asset Investnienls 17 18 2.131197 14&850 2,161,250 155.048 2,280,747 2,316,298 Current assets Stocks Dcbiors Cash ai bank and in hand 19 20a 80528 279,525 2 J04,999 73,522 254,808 2,065,1I52 ,240,051 Creditor5.' amount5 falling due wilhin one year 21a 138lJlJll 1559,7081 Net currcnt a55ets 2,2113,751 68a,343 Total assets less turrent Ilbllltles 4,$64,498 2,996,641 Credltors: amounts (alllng due After more than one yeAr 22 I175,0] Net assets 4,564,498 2,821,641 Funds of the th*rity Eiidowinenl funds RegiriLied funds Unteslricled funds 155,048 2,071,804 594,789 2,251,294 2,313.2(I4 Total eharity funds 25 4,564,498 2,821,641 These fiiiancial.4tal¢meiil.4 wei"e appToTr¢d by th¢ Board of TrL]Sttts and auilioris¢d foT is4ue on and are %i8ned on behalf of the board by.. 7.5.26 Carvpr (May 11. 2026 10 40 21 GMT+11 The Reverend Chantal Mason Acting ReLtoi of Bath Abbey Mi R caer TTeaSUTeT The Thotes pages 18 10 35 form part of these financlal statements. 14
Bath Abbey Prochial Churth Courttil Statement of Flnanell Posltlon 31 December 21)25 2025 2024 Note Fixed 255ets Tan¥ible fixed asset Investnienls 17 18 2.131197 14&851 2,161,250 155.049 2,280,748 2,316,299 Current assets Dcbiors Cash ai bank and in hand 20b 507,026 2,107,676 586,836 591,051 2,614,702 ,177,887 Creditor5.' amount5 falling due within one year 21b 1332,9Z71 1499,520} Nct current assets 2,281,775 678.J67 Total assets less turrent Ilabllltle5 4,562,523 2,994,666 Credltors.. amounts (11Sng due After more thn one yeAr 22 1175,0001 Net assets 4,562,523 2,819,666 Funds of thc charity Eiidowinenl funds Reslricled funds UnteSlriLied furtds 155,04S 2,071,804 592,814 2,251,294 2 JI 1,229 Total eharlty funds 4,562523 2,819,666 Th¢s¢ financial stal¢rn¢nts wer¢ aPPTov¢d by the Board of TrL)Sttts and auihoris¢d foT 155Ut on and ar¢ sign¢d on behalf of th¢ board by.. 7.5.26 ob GatV8rlMay 11, 2026 1040 21 GW[+1 The Reverend Chaiilal Mason Acting Rectoi of Bath Abbey Mi R caer T[UTeT The Thotes pages 18 10 35 form part of these financlal statements. 15
Bath Abbey Prochial Churth Courttil Consolldated Statement of Cash Flows Yer ertded 31 Deeember 2025 2025 2024 Cash flows from operatlng a¢tivitles Nci incomcl(cxp¢ndimrcl .742,847 1107,975} Adju.¥lnTent.s foi" DepTeLialion of tangible fixed asset5 AtnLTrrtisaiiun of Intangible Nei losses..'Igainsl on invesimenis Other interest reLeivable dnd sirnilai inLurne Interest payable and similar charges 73,312 77,859 6,198 176J831 34,039 {3,4691 118,3231 32,128 Chng¥S in. Stocks. Tradc and oihcr dLbtors Tradc and oihcr crcditors (7,0061 124,7171 1103,4071 38.877 293,315 163,0671 Cash generated from operations ,644,89.3 249,346 Interest paid Inl¢r¢st e1Ved 134,0.191 76,3&1 1 ¥,323 Net casli from operating activities ,687,237 235,541 Cash flows from illvesting activities Purchasc of rangible se[S Loan repayment 143,9591 1250,0001 126,3861 17.5.(K)01 Net cash used in investing activities 1293,Y591 Net Increase In tash and eAsh e4ulvaleThts Cash and Cash equli'alents at beglnnlng of year lJ93,278 911,721 134,155 777,566 Cash aThd cash equivalents at end of year 2 J04,999 The Thotes pages 18 10 35 form part of these financlal statements. 16-
Bath Abbey Prochial Churth Courttil Accountlng Polltles Yer ertded 31 Deeember 2025 Ba51s of prepargtlon The finartLial giateTrtentg have been prepaTed ort the histOTical cost basis, as modified by the revaluation of investment agseis measuTed ai fair value Ihrough inLome or expenditure and are presenied in sierling which is the funciional currency of Ihe chariiy and rounded 10 Ihe nearesi £1. The financial siaiemenis have been prepared to gil'e a irne and fair, vie. and have deparied (rom the Charilitt IAceoiinis and Reports} Rcgiilaiions 2008 only 10 Ihc cxieni required 10 provide a 'irue and fair view" This dcpariure has involwcd following Accounting and Rcporiingby Chariiicsprcparing Ihciraccounis in accordanccwith thL Financial Rcporiing Siandard applicablc in the UK and Republic of Ireland issued in OLiober 2019 rather thon the AccoLilliing and Reporting by ChaTllies". SiateTrteni of Recommended Practice effeciive from l April 2005 which has since been withdrawn. Thc consolidatcd aen[S includ¢ ihc irading aciiviiics, asscts and liabiliiics of thc subsidiary Company. Thc SIlfIcant accounting policics applicd in thc prcparaiion ol th¢ fjnancial sthtuncnis arc out bclow. Th¢sc policics havc bccn eonsisicntly applied to all ylars prcscnicd unl5 othcrwisc sthted. Judgements and key sourees of estlmatlon uneertAlnty Thc prcparaiion of th¢ financial siaicmcnts rcquircs managcmcnt 10 makc judgcmcnis, Cstimaics and assumptions thai affcci the amounts reported. These estimates and judgements are continually reviewed and are based on experiellcc and oiher factors. including cxpcctations of fuiurc cvcnis Ihat arc bclicved to bc rcasonablc undcr thc circumstan8. Going concern In aceordancc wilh FRS 102 and ihc Chariiics SORP IFRS 1021 Ihc PCC mcmbcrs of Baih Abbcy havc liaiscd wilh Ihc Exccuiiwc Dirccior and undLYiakcn a rcvicw of Ihc financial viability of Bath Abbcy and an asscssmcnt of iis ability to tyadc as a going concem, boih currently and for ai least 12 monihs after ihe accounts have been audiied. As part of our assessmellt we have taken into account the following matters.. Dciailcd incom¢ and cxpcndiwrc budgcl for 2026 togcther with th¢ assumptions thai sit bchind thc figurcs. Long Range Forecast to 2026- 2030. The significani research thai siis behind the assumptions in the 2026 and long range forccasi. The Term Loan Faciliry made available to th¢ Abbey by the Bath and Wells Diocesan Board of Finance was fully repaid during 2025. The known events and corresponding incom¢ str¢am, salaries and rent payments due in 2026. The known Benefice Share payment due to the ]4ath and Wells Diocesan 14oard of Finance in 2026. The movements Ill cash balances throughout 2025 and projected into 2026. Receipt of th¢ significant donation received in 2025 which has been designated. Receipt ot sigllificant donations from th¢ Friends of Baih Abbey, which will be used to part fvlld the Tower Roof works in 2026 and new Liturgical Furnitur¢. The above budget alld fore£ast have enabled the PCC members of Bath Abbey to conclude that Bath Abbey is a goillg conc¢m and that there are no material uncertainties relating lo its going concern StaS. 17
Btsth Abbey Prochial Churth Courttil Accountlng Pollcles (Copnt¢nHed) Year eTLded 31 Deeember 2025 Fund accounting The accounts include all transactions, assets alld liabilities for which the PCC is responsible in law. Unrestrided funds r¢pr¢s¢nt the funds of the PCC that ar¢ not subjrft lo any restrictions regarding their us¢ and ar¢ available for application to the general purposes of the PC.C. Funds designated for a particular purpose by the PCC are also unrestricted. R¢slricl¢d funds aTe those rnoni¢s giv¢n lo the PCC for specific pury)os¢s and can only b¢ appli¢d in respect of those puwoses. The PCC no longer hgs endowment funds. T)uring the year it was id¢ntifi¢d that a capital donation received by the PCC had b¢¢n incoThtly classified as an endowm¢nt and it has now been correctly classified as a TeStrict¢d fund. Income All inwmt is included in the stat¢m¢nl of financial actii'ities wh¢n ¢ntiiletn¢nt h&$ pass¢d lo th¢ ¢h&Tity. it IS PTobablt that the economic benefit% a£%ociated with the ttan£action will flow to tlie chaTity and the arnouiil can be reliably tllea4uTed. The following 4pecific policie8 aTe applied lo particulaT categoTie4 of inCOTne'. Donations and grants Planned giving is Tecognised only when Teceived. CollectlOllS aTe recDgnised wlien T¢c¢iv¢d by or on b¢half of the PCC. Citanl% and legacie% are accounted foias soon as the PCC is nolifiedof it8 legal eiititlement, theamountcan be reliably inea8uted and it is probable that th¢ arnounl will b¢ r¢c¢iv¢d IncoTne tax TecoveTable on gift aid donations TeC0]sed when the donation is received. lthcome frnm other ctLVlties Sales of books and otheT Ileins sold in the shop ate recolSed at point of 8ale. Fees atising the use of the Abbey and its other properties are Teeugnised when the event l)Leurs. Expenditure Expertdilute Is Tecognised ort sn acctuals basis as a liability is Incued. Grants and donatiotiS aTe aLLoiinled foi when paid over, or when awarded, if thdt award cteales a binding obligation on the PCC. The diucesn PaTish share is accounted foi when payable. Staff co%ls are the tnajoi expendiliire of the Chlty aiid ate apportioned lo activities ba&ed upon the litne spent on those dLtivities. The tnajority of other costs be diTeLtly alloLdted lo eaLh uf the charity's dLtivities set out in note 8. The LOStS uf pr(Ividin¥ Lenlral utTice support such as firtance, HuTtYdn RegourLes, reLepiion desk are treated speLifieally as support costs and are deiailed in note 9. Operating leses Lease paymenis are recognised as an expense over Ihe lease ierm on a siraighi-line basis. The aggregaie benefit of lease incentives 15 TeLugnised ductIvn lu expense uver the lease letrn, un a slTdi¥ht-line basis. Int*nglble assets Intangible assets OTe illitially reLUTded ot cost, artd aTe subseqiienily stated ai eust legs any aLLUTnulaied amortigaiiun and inipairrnent ILTrsses. Any Inthngible assets carried ai revalued arnounis. are teLotded ai the lair valiie ai the date uf revoluaiiort, as deieTmined by reference 10 an aciil'e market, less any subsequelli acLumulated amortisaiion and subsequent accumulaied impairment losses. 18
Bath Abbey P*rochial Churth Courttil Accountlng Polltles (Copnt¢nHed) Year eTLded 31 Deeember 2025 Tangible a55et5 All fJx¢d assets costing £l.ON or more are capitalised and are illjtially recorded at cost. They are reviewed for impainnent at int¢rva15 no gr¢at¢r than one year. Work to maintain the Abbey (including floor r¢pairsl is expensed in-year whilst w'ork outside. together with any ¢xp¢nditur¢ on fixtt)r¢s and fittings, is capitslised. Tlie Footprint project cov¢r¢d both work inside the Abbey and outside. so analysis wa5 undertaken to ascertain the ¢xp¢cted prowrtions of Ilie cost of work inside and outside, logeih¢rw'ith any associated fees. Work und¢rtak¢n by Footyrint lias Ih¢n b¢¢n ¢apit&lis¢d according lo those PTOPQrtions but ¢aptKd by th¢ exp¢¢t¢d maTk¢t value foT the outsid¢ property. Depreciatio Depreciation is calculal¢d so &s to write off the cost or valuation of an &sset, Iw its residual value, oweT the us¢ful econornic lif¢ of that asset as follows.. Freehold property- 50 ye3T Footyrint proj¢cl- 50 years Fixtures. fittings aiid tquipm¢nt- 3 to 5 y¢ars, with th¢ ¢xception of Diptych%- not depreciated Cilockenspiel- 20 yeaT Snund, 4CTetn and staging- 3 to 10 years Pianos- 50 years Investments Li.4ted inve8trnellts are rnea%ured al fail value with change8 ill fair value being iecogni8ed iii PTofit 01 loss. Stocks Stocks ate TneL4ured al the loweT of co81 and e8liTnated selling price les.4 coRls to CQTnplele and 8ell, after Inaking diie alloWlce for obsolete and %low tnovin¥ itetn8. Co%1 includes all costs of PUTcha%e and otheT Costs incuTted in brin¥in¥ the stock to ils PTesent lucaliun and Londition. Financial itLStrument5 A financial osset 01 a financial liability is reco¥nised only when the entity beL'omes a party to the contractual PTOTrlSiOtis of the irtglrurnent. Basic financidl inslrurnents. are initially TeLognised at the amount receivable oipayable including related trnLtion Lost5, unles5 the atrangenienl Lunstitute& a finanLinE transaLliun. wheTe it Ig Teeugnised at the present value uf the future payments disLounted at a tnaTkel tale of interest foi a gimilai debi instrutnenl. Cutrent assets and current liabilities ate subsequently lnedsud at the cash 01 other consideration expected lo be paid OT Te£eived and rtoi diseounied. Defined torttributioth plans The ehanly opernies two defirted Lonlnbution pension schetnes foT etnployeeg. The assets of the scheTrtes ate held separately from Ihose of Ihe charity. The annual coniribulions are re£ognised as an expense in Ihe period in which Ihe relaied service is PTovided. 19-
Btsth Abbey Prochial Churth Countil Notes to the FlnantlAI StAtementS Yer ended 31 Deeember 2025 General Informatlon The ehariiy is a registered chOTily in England and Wales undeT the name 'The Parochial ChuTeh Council of the Ecclesi&siieal Parish ofBath Abbey wilh Si James, Baih" and is uninLorporaied. The address of the principal otTice is 9 Kingston Buildings, Bath, BAI ILT. Statement of tompllanee The charity eonsiiluies a public benefil eniily as defined by FRS 102. The fillancial siaiements hal'e been prepared ill aceordance with Accouniing and Reporting by Charities.. Statement of Recommended Practice applicable 10 chariiies prcpanng ihcir aceounts in aecordancc with Ihc Financial Rcponing Standard applicablc in thc UK and Rcpublic of Ircland IFRS 1021 issucd in Octobcr 2019, the Financial Rcporiing Siandard applicablc in ihc Uniicd Kingdom and Republic of Ireland (FRS 1021, the Chariiies Act 2011, and UK Generally Aceeptcd Practice. Donations and lega¢ies Unrcsirieicd Funds Rcsirieicd Funds Total Funds 2025 C.u*reNt vedr Donation5 Planncd gii'ing Donaiions- general T)onalions- music Mission Support Pentrfost app¢al Friends of Bath Abbey 253,562 ,784,413 4,026 253,562 1,&18,118 53,705 19,497 12,693 30,570 12,6Y3 Legacies L¢gaci¢s 120 120 Grants Cathedral Mu4ic Trust Benefacl Ttu%l 10,000 9.800 9.800 2,042,121 136,265 2,178 J86 Unrestricted Funds Restricted Funds Total Funds 21124 Donatio]J$ Planiied giving Doiialion%- ¥enetal Doiialions- music DDnalion%- Pootprint Mi%%ion Support Pentecost appeal FTiends of Bath Abbey 255.994 43,497 2,811 255.994 16,895 25,899 2,183 9,261 20,000 28,710 2,183 9,261 20,000 Le%aties Legacies 10,000 10,000 Grants Listed Places of WOThiP ,795 ,795 302,302 86,033 388,335 20-
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 Charitable activitie5 Unrestricted Funds Total Fund5 UnTe8tricted Fiinds Total Fund 2Q24 2025 Visitor adrni88ion fees ToweT lour 1,430,557 281,205 1.430,557 281,205 1,389,967 268.921 1,389.967 268.921 1,711,762 1,711,762 1,658,888 1,658,888 Other trading activities un1[1Cted Fund Re8tricted Funds Total Fund5 21)25 Curreniyear Shop %ales Abbey hi other fees Melody Mokers 464,237 277,186 5,026 464.237 285,923 5,026 8,737 746,449 8,737 755,186 Unre8lricted Funds Re4tricted Total Trund 2Q24 8hop £ale Abbey hire other fees Meludy Mdkers 441,291 319,567 4,175 441,291 332,307 4.175 12,740 765,033 12,740 777,773 Investment income UntrIcted Funds Re8tricted Funds Total FuThd5 2025 CurreJ?iyear Other inteie%t Teceivable 72,075 4,308 76J83 Unrestricied Funds Restricted Funds Toral Funds 2024 Prioryettr Other interest receivable 4,208 18,323 Costs of other tradi]J¥ xttlVLties Unresiricied Funds Resiricied Funds TotAI Funds 2025 CurrentTrear Shop Abbcy hirc and othcr f8 Mclody Makers 361,094 167,855 361,094 168,599 1,191 744 530,140 744 5.30,884 21
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 Costs of other trading activities (cgnfrKMed) un1[1Cted Fund Re8tricted Fiinds Total Fund 2Q24 PrEory£aY Shop Abbey hire and other fees Melody Mokers 401,995 144,110 824 401,995 144,110 824 546,929 546,929 Expcnditurc charitabl¢ activitics by fund typ¢ Un51[1C1ed Restricted Total Funds 21)25 CurJentTrear BenefiLe Sha Missiun Suppvrl Visilurs to the Abbey Operating cost ToweT iours Music cosis WuTk uf the Ministry FabTiC Mainienartce ArchiNcs Foowrini projcct Foowrini delivery phase funded by HLF Support costs 310,183 JlQ,183 6,486 434.742 468,649 6,486 434,742 458,078 55,114 21 5,220 10,571 30,324 2,902 17,691 245,544 154,055 188,506 52880 17,178 26,018 482,423 170,815 52,880 15,563 26,018 8,371 474,052 2,323,852 117,926 2,441,778 Unresiricied Funds Rcsirieicd Funds Total Funds 2024 PriL7r)Jeur Bcncfiec Sharc Mission Suppon Visiiors io Ihe Abbey Opcrdting costs Tower iours Music costs Work of ih¥ Ministry Fabric Maintellance Archii'es Footprint project Fo0rInt delivery phase funded by HLF Suppon cost5 310,2 310,200 25,660 413,399 405,257 82,596 244,645 135,694 174,602 36,967 81,630 37,916 459,268 25,660 413,399 405,257 82,596 207,456 107,291 174,602 36,967 37,189 28,403 37,916 13,087 446,181 2,183.949 223.%85 2,407,834 22-
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 Analysis of support Costs Total 21125 Total 2024 Staff cusis Finance co%t GovenianLe LUSt5 DepLIall0 Legal and professional OffiLe TUllllill¥ exPene Other costs 291,604 34,039 16,950 27,726 13,692 82,074 16,338 289.947 32,128 13,740 25.262 12.527 70,881 14,783 482,423 459,268 11). Net11055e5Vgains on iiJi'e&tments Endowment Funds Total Furtds 2025 Endowment Funds Total Fiinds 2024 Unrealled {lussesllgaing un InvestTnent aetS 16,198) {6,1981 3,469 3,469 11. Net incomellexpenditure) Net incomell¢xpenditur¢l is stated after chargingllcr¢ditingl'. 2025 2024 Depreciation of tangibl¢ fixed assets Opetaling lea8e Tentals 73,312 45.033 77,859 24,473 12. Auditors, remuneration 2024 Fccs payablc for the audii of th¢ financial sraicmcnts 10,100 9,800 Fees payable to the chatity's auditQT dnd its dS5ixidles for other seTvices-. Audit uf the fiiianLial ststetnents of associates Taxaiiort eomplianee services 3,700 3,500 840 4,340 23-
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 13. Staff costs The total statf costs and ¢rnploy¢e benefits for the rewrting period are analysed as follows.. 21)25 2024 W&g¢s and salaries SoLial secuTity Losts ErnployeT LuniTibuliong 10 pertsion plans Other employee benefits ,212,637 122,0(V) 80,318 26.963 5,469 6,391 I J72,102 1,225,763 Included in the above staff costs are costs of £8,721 12024. £9,405) relating to accn)¢d holidays being carried over to futhre years. Th¢r¢ are aTound 30 hourly paid ¢mploy¢¢s whose WQTking hours are so waTied that an average ti)11 tirn¢ ¢quival¢nt alculation would not be appropriat¢ or useful. In Ttsp¢¢t of such trnploytts, total hours WOTk¢d were 16.963 and split as follows.. W¢lcorn¢ Tea Tower Toiirs 10,700 3,999 2,217 27 Shop Operations MusiL L¢atning 15 In 2024 thesc cmployccs worked total hours of 16.662. Thc 20/0 incrcasc in hours is duc to paid staff rcquircd io covcr Ihc incrcasc in visiior aciiviiies and cvcnis during 2025. Thc avcragc hcadcouni of employccs during thc ycar was 7012024- 911 which includes thc pool of 30 zcro-hour sthff meniioned above. The average No of full-time equivalent employtts during ihc y&qr, shown by depanment, is analysed as follows.. 2025 2024 Enterprise activities Operations Office and administratioll Muslc WoT8hip 4.25 29.7 29.15 Thc numbcr of cmployccs whow rcmuncraiion for thc ycar fcll within ihc following bands, wcre.. 2025 2024 £80,000 10 £89,999 Key Management Per50nncI Th¢ PCC ¢onsid¢TS that th¢ 'Abb¢y Le&dtT4hip T¢arn cornprises the key Tn&nag¢rn¢nt p¢rsoniiel of th¢ Abb¢y and that they are in char¥e of rllniiing and operating the Abbey on a day to day blsis. The Abbey Leadership Teain rneels fortni¥htly aiid con8i%ls of.. Tlie RectQT, the Abbey MissioneT, tlie Abbey Pastor, both Church Wardens, the Diteclor of Music, the Executive Director, the Facilities Mana¥ei, the Head of Visitor Experience and the Head of Finance. The total rernunei7tiDn of Key Management Personnel (excluding The Rector, the Abbey Mi%sioner, The Abbey Pa%tOT nd the ChuTch Wardeii%l w'as £291265 12024.. £257,563). 24-
Btsth Abbey Prochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 14. Trustee rernuneration and eipenses No remuneration or r¢imburs¢ment of ¢xpenses12024. nil) has been mad¢ to the Members of the PCC in their capacity as Members. 15. Tran5fer5 between futlds Th¢ transfer from endowinent funds to restricted funds r¢pr¢s¢nts a capitsl donation r¢c¢ii'¢d by the PCC in pr¢vious ye&TS which had been in¢oTrectly cl&ssifi¢d as an Endowtnent and has now b¢¢n corr¢ctly classified as a r¢stri¢l¢d fvnd as confirmed by the original donor. 16. Intangible assets rhe group and the charity 'ebslte development Cost At l January 2025 and 31 December 2025 11,908 Amortisation At l January 2025 and 31 December 2025 11,908 Carrying At 31 December 21125 Ai 31 December 2024 17. Tangible fixed assets The group and the ch¥rity FTeehold property and 1¢&4thold additions FDDtprinl Sound, 4CTe¢ns project and staging Piano wid organ Equipinent Tot#1 C05t At l Jan 2025 AdditiOnS 233,491 2,026,409 309,537 10,120 218,768 26.614 70,464 7,225 2,8S8,669 43,959 At 31 De¢ 2025 233,491 2,026,409 319.657 245,382 77,689 2,902,628 Depreeiation At l Jan 2025 Charge for the year At 31 Dec 2025 99,914 6,214 294.828 5.029 160,279 18,877 29,082 697,419 7.3,312 41,581 106,128 154,897 299,857 179,15C) 30,C)93 771),731 C#rr)in2 mount At 31 Dec 2025 127,363 1,871,512 19,8 66226 46,996 2,lJlJ97 At 31 Dcc 2024 133,577 1,913,093 14,709 58,489 41,382 2,161,250 25-
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 The group and the th#rity Llsted Investments Cost or valuatlon At l January 2025 Additions Fair value movements 155,048 {6,1981 At 31 DeCeber 2025 148,¥50 Impairment At l January 2025 31 Detember 202S Carrying At 31 December 21125 148.850 Ai 31 December 2024 155,048 All investrn¢nts shown above are held at valuaiion. Unquoted ini'e5tment In addition to th¢ abov¢ inv¢stiKents. the chaTity held one £1 ordinary share in its wholly owned subsidiary wrnpany, at acostofLI. 18b. 8ub5idiary undcrtaking Th¢ charity the whole of the issued shar¢ capital of Bath Abb¢y Lirnit¢d, a coinpany r¢gist¢rd in England. Its principal adivity is Ilie operation of the thop at Bath Abbey and the oigaiiisation of concerts and oth¢T ¢ventS at the Abbey. A 8UTntnary of its Te.4uli% and balance Sheet 18 provided below". Year ended 31 Dcc 21125 YeaT end¢d 31 Dec 2024 Profit and loss ae¢ount Tumover Cosi of salcs 642,911 {277,0651 579.149 1307,5561 Gross profit 365,846 289,593 Administratti'e expenses {162,4161 1149,8511 Operating profit 2O.3,430 139,742 Distribution to Bath Abbey PCC {203,4301 1139.7421 Result for th¢ financial yeaT Balance sheet 301,576 (299.6(M)) 430.017 1428,0411 Retained 4urplu 1,976 1,976 26-
Btsth Abbey Prochial Churth Courttil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 J9a. Stocks The group 2025 2024 Finished goods and goods for resale 80.528 73,522 19b. Stocks The charlty 2025 2024 Finished goods and goods for resale 20¥. Debtors The group 2025 2024 TTad¢ d¢bto Prepayments and accrued incotne (tift Aid recov¢rabl¢ Other debtors 70,624 Z04,352 4.137 412 45,205 194,-138 4.663 10.602 279,525 254,808 2Ob. Debtors The charity 2025 2024 Tradc dcbtors Amounis owed by group undertakings Prepayments and accrued income Gifi Aid recoverabl¢ Other debtors 46,899 251,226 204,352 4,137 412 29,756 367,8.54 176,554 4,663 8,009 507,026 58h,836 21#. Creditors= xmtsunts flling due within ytar The 2roup 2025 2024 TTdde creditors ALcruals nd deferred income Social sccurity and oiher iaxes Wagcs control aecouni Loan from Diocese of Baih and Wells Othcr crediiors 66.046 218,784 90,086 6,062 93.921 310,329 61,655 5,688 75,000 323 381,301 559,708 21b. Creditors: amounts falling due within one year The charity 21)25 2024 TTad¢ Creditors Acctual% aiid defetred incoine SuLial secuTlty and other laxe Wages coiilTuI aLcuuni Loan Irom Diocese of Baih and Wells Other LredilLTrtS 57,305 21)11.483 68,782 6,062 86,109 283,394 45,329 5.688 75.000 4.000 295 332,927 499,520 27-
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 22. Crcditor5'. arnount5 falling due after more than one year The group and the th#rity 2025 2024 Lfjan from Diocese of Bath attd Wells 175,000 The loan from the Diocese of Bath and Wells was repaid duting the year. 23. Deferred Income The 2roup the tharity 2025 2024 Amouni deferred In year 23,517 Deferred incoTne repre.4ent8 tickets monie4 Teceived in the year for evenl% which will lake place in 2026. 24. Pensions other post retirement benefits The amount recDgni4ed ill expenditure a% an expell£e in Telation to defined contribution plans £31,065 12024.. £26,963). 25. Analysis of charitsblc fu]Jds Unrestritttd funds Th¢ group At 31 Dec 2025 At l Jan 2025 Ineome Expenditure Transfers Ciirrertt veur General (unds Propcriy & fabric maintcnancc fund Footprilli dcwclopmcnt fund Legacies ftlnd Legacies receivable fund Sabbatical fvnd Mission Support travel fund Abbey Choir Development fvnd 377,523 3,266,898 {2,850,9021 793J19 1.300,000 1,300,000 38,015 13,480 5,509 41.909 13,480 130,000 3,480 130,000 3,480 3,000 3,000 29,291 271116 594,789 4,572,407 {2,853,9921 2,313204 At 31 Dcc 2024 Ai l Jan 2024 Incomc Expcnditurc Transfcrs Prioryeur General tunds Footprint development fund Legacies knnd L¢gaci¢s receivable fund Sabbatical fund Mission Support travel fund Abbey Clioir Developmetti lund 364,042 2,740,305 {2,726,8241 377,523 66,702 13,4110 33 128,720) 38,015 13,480 130,000 3,480 13D,aOO 3,480 3,000 3,000 33,345 14,0541 29,291 614,049 2,740,338 {2,730,8781 128,720} 594,789 28-
Btsth Abbey P*rochial Churth Courttil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 25. Analysis of charitable funds (conliKM¢d) Unrestricted funds The charity At TT3nsfeT% 31 Det 21125 At l Jan 2025 Incorne ExPeTlture CtsrrenlTrear Genernl fiinds Property & fabric tn&inlenance fund FootPTini development fund Lcgacics lund LegaLies reLeivable fund Lcgacics ftlnd Mission Suppon Iravcl Abbcy Choir development 375,548 2,827,417 12,411,421) 791,544 1,300,0 1,3(Kl,000 38,015 13,480 5.509 41,909 13,480 130,000 3,480 130,000 3,480 3,000 3,000 29,291 11,4751 27,816 592.814 4,132.926 2,11 I,Z29 At 31 Dec 2024 At l Jan 2024 InLorne Expendilu TTansfeTS PriL7r}Jgar Cieneral funds FuutyTinl developTnent fund LegaLies fund Legacies receivable rurtd Legacies fund Mission Suppon Iravel Abbcy Choir dcwclopmcnt 362.067 2,2S2,737 12,269,256) 375,$4S 66,702 13,480 33 128,7201 38.015 13,480 130,000 3,480 130,000 3,480 3,000 3,000 33,345 14,0541 29,291 612,074 2,282.770 12,273,310) 128.7201 592,814 The Footptint PTojecl 18 Bath Abbey's niajor developinenl prograinine which alin% to ineel the worshippiii¥ needs of Bath Abbey's cotntnunity in this foi years to Lorne, and to develop the faLilities to SUPPUrt aiid ehLe the Abbey's seThiice to the city The Fwtptint developtnent fund IfoTnieily the Abbey Church House buildin¥ and development fund) is the money ceived frurn the le of the Abbey ChuTch House lease these fi]nds are now being used towards the cost of the FootPTiiiI developnient P8[aline. The Legacies fund has been set up foi le¥ary incorne where the ttustees wish to specifically identify subsequent expenditu. The Legacies Teceivable fvnd ha% been set up to TecoTd le¥acie8 which have not been received bul which rneel tlie ciileria foi itiLIusion in the aLLuunts.. Any diffeTence between the esti]]iate of the aTnounl of the le¥dLy and the legacy ceiVe be readily identified. The Sabbatical fi]nd is monies set aside to PTovide for cleT¥y sabbatical expenses. The Misgion Suwrt travel fiind Is monies sei aside by the Ministry and Mis5iort Cotntnitiee to contribute towards the travel cost5 incurred when visitin¥ nii%%ion partners overseas. 29-
Btsth Abbey P*rochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 25. Analysis of charitable funds (conliKM¢d) Unrestritted funds The Abbey ChoiT developnient fund is a legacy received frotn the late Dr Derek Ciibson wlio was an ex choTlSteT. He has donated the legacy to Bath Abbey PCC and hi8 desire is that these tnonie% are to be u%ed to 8upport the Abbey and ideally d¢v¢lDp tli¢ Abbey Clioir. The PTopety & fabtic tnaiiilenance fi]iid is a very geneTOUS donation made to the Abbey frorn a local philanthTOPIC couple whu wish lu ni1n anunynious. The fuiids We given unrestriLted have siibseciuently been designated by the PCC foT u4e in Tepair% to the property and fabTiC of the building. Re5tritted funds 'he group and the charity At 31 Dee 2025 At l Jan 2025 Income Expendimre Trdnsfers Curri'rtl vi'ur Rei'enue funds Small resiricted funds Including Spccial Collcciions closed Music fund R¢ctor's Discr¢tionary fund Fabric maintenance fund Alph¢ge Window fund ChoiT stall% fi]nd National Archive fund Roof find Mu8ic IfortneT endownientl fiiiid 7,380 46.190 16,242 41,492 138 57813 130,2691 860 10,000 500 ,300 io,o(MJ 511,013 12.711 67,704 3,450 12.5 10,570 12.4 148,850 148,851) Capital fund5 FoutPTinl HLF asset fund FootyTinl asset fimd Piano fund lassetl FabTIL projeLlS capital rurtd lasseil DiptVLhs fund lagseii Heriiage EmergenLy fulld lasseil Culiurc Rccovu Fund ror Heriiage lassei} 126.0181 115,5631 11,3701 I,Q90,40J 781,111) 36,4S9 796,673 37,829 23,291 10,0 19371 22,354 10,o(H) 2,140 19581 1,182 5,070 15,0701 2,071.804 149,310 1118,6701 148.850 2,251,294 -30-
Btsth Abbey P*rochial Churth Courttil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 25. Analysis of charitable funds (conliKM¢d) Restricted funds The group and the rharity At l Jan 2024 Incotne ExpendiknTe Transfers 31 tkc 2024 PrEL7r}Jgar Revenue funds STrtall resirieied funds ColleLliung closed Music fund Rcctor's Discrctionary rurtd Fabric maintcnancc fund National Archivc fund Root'fvnd Footprini rcvcnuc fund 47,787 40,532 13,656 42,847 154,0631 137,1891 7,380 46,190 860 860 10,0 3,450 12,5 10,000 3.450 12,500 3,978 34,559 167,2571 28,720 Capital funds Footprint HLF asKt tund Footprint asset fund Piano fundlgssetl FabTi¢ projects capitsl fund lassttl T)iptychs fund lassetl Heritage Ern¢rg¢ncy fuiid la84etl Culture RecoveT Fund for H¢rilag¢ lass¢tl 1,154,337 811,046 39.199 137,9161 114,3731 11,3701 796,673 37.829 4,228 10,o(xJ 20,000 19371 23,291 10.O(K) 3,09 19581 2,140 14.892 19.8221 5,070 2,163,988 102,981 {223,8851 28,720 2,071,804 Thc Spla1 coll¢£iions and various small rcstnctcd funds consisis of smallcr rcstricicd donaiions. Thc Music filnd is monics reccived spccifically iowards funding thc costs of ihc Music dcpartmcnt. Thc Rceiorfs Discrciionary Fund is 10 bc spcni assisiing mcmbcrs of Ihc Abbcy Communiiy cxpcricncing iimcs of hardship. The Fabric maintenance tund is money received from Bath Abbey Tst specifically to mttt the costs of Fabric maintcnancc of Bath Abbcy. The Alphege Window hnd represents monies received trom a thndraising appeal to create a new stained glass window to honour Bath-bom Si Alph¢ge. The Choir Stalls fund is monies received towards the manufaciure and installaiion of new Choir stalls in the Abbey. The National Archive fund is tiinding for a research project using newspaper archives to provide volunteer training, a wcb sitc, and cvaluation. The Root'fvnd is rnonies received tor re-roofing the Abbey. The Music (former endoivmenil fund is a capiial donaiion receii'ed by the PCC ,hICh in previous years had been incorrectly classified as an Endowment and has now been correctly classiti¢d as a resiricted fund. The Footprini HLF asset fund rwresellts the arnount of the Fooiprint development capital costs funded by grants trom the H¢riiage Lottery Fund. The Footprint asset tund represents the amount ot the Footprint Development capital costs fvnded by monies received specifically for th¢ Footprint development programm¢. 31
Btsth Abbey Prochial Churth Courttil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 25. Analysis of charitable funds (conliKM¢d) Restricted funds Th¢ Piano fi]nd and th¢ Fabric proj¢cts capital fund aT¢ both moni¢s T¢¢eiv¢d whicli hav¢ b¢¢n utilised to purcliase specific capital assets. The Diptychs w¢r¢ PUT¢h&gd using donat¢d funds wh¢r¢ the donor5 placed T¢Stridions on th¢ir disposal. Th¢ National Lotl¢ry H¢rilag¢ Em¢rg¢ncy Fund gnd the Culture Recovery Fund for HeTitag¢ w¢r¢ grants awaTded to Bath Abbey in 2020. The balanc¢s r¢rnaining in these funds T¢PTesent ¢apilal assets purchas¢d by the grant tnonies. EndOWent fund5 Gains and At losscs 31 Dec 2025 At l Jan 2025 Ineomc Expcnditurc Transfcrs Currertl veur Music 155,048 1148.850) 16,1981 Gain% aiid 105ses At 31 Dec 2024 At l 2024 Income Expenditure TTansfet Piior vgoy Music 151,579 3,469 155,048 It was identified during ihe year that a capiial donaiion received many years ago by ihe PCC had been incorrectly classiffi¢d as an endowment. It has now been co¢¢t1Y classitjed as a restricted knnd. 26. Analysis of net assets bett'ee]J funds Unr¢strict¢d Funds Restricted Funds Endowment Funds Total FuThd5 2025 Cui'YeFttyear Tangihlt fixed &*4¢ts Inveslinents Nel Lutrent aSsetS Credito[% gtealei than l yeaT 190,389 1,941,508 148,850 160,936 2,131 197 148,850 2,28J,751 2,122,815 Net assets 2,313,204 2,251,294 4,564,498 Unr¢strict¢d Funds R¢strid¢d Funds EnJonent Funds Total Funds 2024 Intangible assets Tangiblt fixed &wts Iiiveslments Nel current asset CredilLTrts ¥tel thon l yeaT 169.826 ,991,424 2,161,250 155,04S 680,343 1175,0001 155,04S 599,963 I175.0} 80,380 Net assets 594,789 2,071,804 155,048 2,821,641 27. Analysis of changes in net debt At l Jan 2025 Cash flows Al 31 Dec 2025 Cash al ballk and in haiid 911,721 1,393,278 2.304,999 32-
Btsth Abbey P*rochial Churth Courttil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 28. Operating Ica5C COllJtiiitmcnt5 The total future rniniinum l¢as¢ paytnents und¢T non-can¢ellabl¢ operating l¢&s¢s ar¢ as follows.. 2025 2024 Nul later than l year Later Ihan l ycar and noi latcr ihan 5 ycars Latcr ihan 5 ycars 37,061 131,108 24,473 52,490 49,800 184,669 126,763 29. Contlngencles commItments At the year end the Abbey had paid a deposii for Liturgical Furniiure which is being designed and will be made and delivered in 2026. The lutal LOtitrnLI value is apPXItn1eIY £150k. Huwever the findl LunlTaLI value may change as the designs develop and £20k already been paid. The balance of the Lolliraci value is payable In giage payments once Ihe final priLe has been agreed and once a schedule (or delivery of Ihe fumilure has been concluded. The Friends of Baih Abbey have agreed 10 grani the Abbey suffiLieni funds 10 pay lor this furniiure with some monies being received irt 2026. The Friends of Both Abbey haNe olteady gTanied £20,0 whieh was paid in ApTiI 2024. 30. Reloted partles Thomas Sheppard is a direcioT and shareholder of SheppaTd & Barrow Lid and an etnployee ai Thrings LLP. There weTe no finanLial ITansactions wilh these organisaiions Irt 2025 12024 NIL). Thomas is also ChaiT of Trusiees ai The Amcrican Muscum & Gardcns, Bath ThcairL Trusi. Bath Ciiy fami, and a Lay mcmbcr ol Wclls Caihcdral Chapicr. Thcrc wcrL no financial tran¢tiOnS ivith Ihcsc organisaiions in 202512024- NIL). Finally, Thomas Is an ambassador of lh¥ Voiccs For Litc Charity who rchcarscd and hcld conccrts at Bath Abbcy during 2025. Voiccs of Lifc wcrc chargcd less than £3,000 lor the concerts and rehearsals during 2025. Jcrcmy Kcy Pugh, Paittcia Roscmary Shuitlcworth and Andrcw Bragg arc Trusiccs of the Fricndsof Bath Abbcy. During 2025 donations from Thc Fricnds of Baih Abbcy amountcd to £43,37112024 £20.0001. Sandra Wcbspcr {aka Sandy Forbcsl Is a Trusicc of Thc Holburnc Muscum and Chair of Si Johns Foundation. Boih organisations arc charitics and no transactions look placc bcttvccn Baih Abbly and thcsc organisaiions during 2025 12024 NIL). Frank Mowai is Chair of a charity eallcd BANES Carcrs Ccnirc who collaboraic wilh Bath Abbcy rc monihly Carcr Cafcs hcld in thc abbcy. Duting 2025 thcrc w¢r¢ no financial transactions bctwccn Baih Abbcy and (his chattty12024- NIL). Huw Williams daughicr Emma Williams sung as a paid soprano at som¢ wcddings at Baih Abbcy during 2025. Shc received less than £500 for ihese servic¢s12024- NIL). Peicr Collccoit is Co Chairof Thc Ambassador Partnership LLP and Truste£ of Thc Yarralumia Trust and Thc Zamalck Trust. During 2025 no Iransactions look placc bctwccn Baih Abbcy and thcsc organisaiions12024-NILI. Julia Unden¥ood's husballd Rob is a Trustee of the Bath Abbey Music Soci¢ty. During 2025, Bath Abbey Music Society I"BAMS-'I hcld various conccrts and rccitals ai Baih Abbcy and BAMS paid £9,225 10 Bath Abbcy12024- £12,565).. Evelyn Lee-Barber is a director of Celb Ltd. During 2025 no tinancial transactions took place between Bath Abbey and Celb Ltd12024-NILI. Phil Burge is the Treasurer ot'the Bath Geological Society. During 2025 there were no financial transactions between Bath Abbey and ihe Bath Geological Society12024- NIL). Mr Tim Westbrook is a Trustee and donations have been received through Bath Abbey for Tim's work with poorchildren in Sri Lanka amounting lo £3,875. -33-
Btsth Abbey Prochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 Mlsslon Support pavments summary 2025 Chrltable glvlng Ukrdine 258 Monics rdiscd through visitor and congr¥8ation donations on Ihc Abbcy floor 258 Indii'iduals- Mission Links Partners abroad Grdnis to cnablL mission work in Sri Lanka Grants to enable Tnission work in ZaTnbia 3,875 190 Monics rdiscd through visitor and con¥Tegation doiialiuns oil the Abbey floor 4,065 Instltutl(FllS Supp(Frtlng... Mission sUprt Partiiei.. Genesis 424 Outreach work in Bath Mission Support Partner.. Dream Centr¢ 944 PTovide schoolin¥ in slutns in Mumbai. Mission suPrt Partner.. Arocha 409 Advocdcy, awareness raising, leaching SLTrurces fLTrI addTes5inE Inipacls uf Llirnaie change, advating foT mote sustainable Iifesiyles WOTldwide. Mission Support Pariner.. Ripple Elfe£i 386 Traiiiing of fannet% in Zainbia. Totsl Mission Link5 expenditure Anilysls of donations Local Inl¢mational 424 6,062 -34-
Btsth Abbey Prochial Churth Countil Notes to the FlnantlAI StAtementS (conrinued) Year eTLded 31 Deeember 2025 Mlsslon Support pavments summary 2024 Chrltable glvlng Ukrdine Bath & Wclls DBF rc Zambia- Pcntceosi Appcal Israel mission- Pcrticcosl Appeal 12,550 3,849 Monies raised tlirough visitor and congregation donations on the Abbey floor and through the sale of lapel ribbons. Indii'iduals- Mission Links Partners abroad Grants to enable mission 'ork in Sri Lanka 1,875 19,315 Institutions Mission sUprt Partner.. Wycliffe Bible Translations Supporting... LiteTaLy projeLts and bible Iraiislalion WOTk in Cainetooii and Togo, gii'ing people literature in IheiT'niother ton¥Lie' ,510 Mission SuPrt PaTttiei". DreaTn Centre 1,744 Provide schooling in slurns in Mumbai mi10 Support PJrtneT.' ATocha 19 Advocacy. awarelless raising, teaching resources for addressing impacts of cliinate change, advocating for more susrainable Mission Suppon PartneT.' Waloto Child Car¢ Ministries Rescue and raige children in & loving fatnily and empower vulnerable women in Uganda. Mission Support PartrteT". Ripple Effe£t 676 Trainiiig of faTm¢r5 in Zambia lo improve yields and belter care for th¢ land. advocating and training worntn in farming and bu8ine%£, teduciiig exclu.4ion To improve saniiation in developing countyics by raising funds for a ncw toilci in arcas wilh poor sanitation faeiliiics AdwoLacy work, ?'arCnc88 raising, resoureing organisaiions 10 addrcss ihc impaeis ot'modem slavery Mission sUprt Partner.. Toilet Twinning 1,525 Mission Suppon Parthcr.. Unsccn UK 260 Total Charitable giTring 25,660 Total Missitsn Links expenditure An*lvsi$ of dothatioths Local National Inlemational 279 25,660 -35-