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2021-05-31-accounts

REGISTERED COMPANY NUMBER: 07487215 (England and Wales) REGISTERED CHARITY NUMBER: 1144001

Report of the Trustees and Audited Financial Statements for the Year Ended 31 May 2021

for

Holy Trinity Monastery

Town & Forest Chartered Accountants & Statutory Auditors Cornerways House School Lane Ringwood Hampshire BH24 1LG

Holy Trinity Monastery

Contents of the Financial Statements for the Year Ended 31 May 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Statement of Financial Position 11
Notes to the Financial Statements 12 to 17
Detailed Statement of Financial Activities 18 to 19

Holy Trinity Monastery

Reference and Administrative Details for the Year Ended 31 May 2021

TRUSTEES Dame C D E Wybourne Dame L L B King B Meadows J Clement Major-Gen C D Farrar-Hockley REGISTERED OFFICE Howton Grove Priory 1-2 Howton Grove Barns Wormbridge Herefordshire HR2 9DY REGISTERED COMPANY 07487215 (England and Wales) NUMBER REGISTERED CHARITY 1144001 NUMBER

SENIOR STATUTORY AUDITOR Zara Dunster FCA

AUDITORS Town & Forest Chartered Accountants & Statutory Auditors Cornerways House School Lane Ringwood Hampshire BH24 1LG SOLICITORS Howard Kennedy LLP No. 1 London Bridge London SE1 9BG

Page 1

Holy Trinity Monastery

Report of the Trustees for the Year Ended 31 May 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 May 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and Activities

The principal objectives of the Charity are to advance the religious, educational and other charitable works of the community through a life of prayer and service.

Accordingly, the principal activities of the charity during the year ended 31 May 2021 were:

The trustees have followed the Charity Commission's guidance on public benefit and are satisfied that these activities fulfil the Charity Commission's requirements, benefitting not only those physically able to visit the monastery but the many more who interact with the community at a distance, either online or by post/telephone.

Page 2

Holy Trinity Monastery

Report of the Trustees for the Year Ended 31 May 2021

ACHIEVEMENT AND PERFORMANCE The Charity's Assets

The principal material asset of the charity is the monastery building, purchased with the help of a bank loan in 2012. It is the charity's operational centre and provides facilities for both day and resident guests as well as a home for the monastic community.

The trustees have continued their policy of improving the building and grounds and extending and upgrading facilities for guests. In 2020 the calefactory and front hall were relaid with engineered oak, in keeping with the period character of the building and providing a safer and warmer environment for meetings and day retreats.

A Thyssen stairlift was installed in May 2021, principally for use by one of the community but, having been situated at the west end of the building, is now available to any guest who has need.

Most of the year's effort and spending was concentrated on improving the courtyard garden and driveway. The community invited the police to conduct a safety, security and safeguarding review and received warm commendation for the initiatives it has taken to ensure the safety of all householders, especially children and vulnerable adults living in the barn complex. The use of security cameras inside the monastery grounds prompted the community to register with ICO to ensure compliance with the latest data control regulations.

The courtyard has been cleared and laid out in a semi-formal monastic pattern which allows good visibility all round. The central pergola has been cleaned and repainted and planted with a Japanese Wisteria (floribunda f. multijuga) and Star Jasmine (Trachelospermum jasminoides). Wooden half-barrels have been introduced into each of the four sections, as a nod to the barns' cider-making heritage, and planted with various kinds of seasonal bedding. Along the cleared and widened driveway are some Stuart gothic planters with seasonal plantings. A speed limit has been introduced and a PIR and alarm system put in place to try to deter thieves.

The value of the charity's investment with St James' Place Wealth Management plc fluctuated throughout the year. The charity took no income from its investments but the book value of its portfolio as at 31 May 2021 showed an improvement on 2020's figures, £244,411 as against £198,677. The last of the charitable bonds was repaid in April 2021, so the charity's only major outstanding liability is the bank loan on the property. The trustees are satisfied that the charity remains solvent and able to fulfil its objects.

Page 3

Holy Trinity Monastery

Report of the Trustees for the Year Ended 31 May 2021

ACHIEVEMENT AND PERFORMANCE

Review of the Charity's Activities

As of May 2021 there were two solemnly professed community members resident at the monastery who were responsible for the bulk of the charity's outreach and activities. There were also nine oblates/associates who live in their own homes but play a significant role in disseminating the charity's values and helping with numerous projects, including representing the community at events the nuns are unable to attend in person. The oblateship is international and multi-denominational in character, with oblates living in the U.K., France, Canada and the U.S.A. and coming from various ecclesial traditions. The use of video conferences and private social media groups has played an important part in enabling everyone to keep in touch. During the past year, virtual oblates' tea-parties have been held on a fortnightly basis via Zoom. Although not everyone has been able to take part because of work/health or timetable differences, these have contributed to a real sense of community which we hope to strengthen as time goes on. The community is currently working on ways to expand these online meetings to include study groups and similar activities.

One oblate made her final oblation in June 2020. There are candidates for admission, both to the oblateship and, less certainly, the community, but they are all on hold while the response to Cor Orans is worked out.

The charity's online community is informally structured but effectively numbers several thousand, of whom about 2,000 maintain some form of regular contact, usually by email or social media. Numbers again increased over the past year both on Facebook and on Twitter (24,000 +). It is difficult to be precise about the actual reach attained as blog post links and similar content may be duplicated/reposted by readers but their privacy settings do not always allow accurate tracking. Moreover, the transfer of the monastery's sites to new servers by TSO Hosting led to the loss of some statistical data. The daily podcast of the Rule of St Benedict is proving popular with some, although it is only ever likely to be a niche interest. The average reach is about 100 to 150 listeners per episode, sometimes far fewer. The podcasts are distributed via Spotify, Apple Podcasts and Anchor Fm™.

COVID-19 has had a major impact on visitors to the monastery, particularly as one of the community is categorised as clinically extremely vulnerable and has been shielding for most of the past eighteen months. The dial-in service for prayer/support begun last year has been discontinued as it was felt that too few people were making use of it to justify the time and expense involved in running it.

The community's (free) email newsletters are available by subscription only and require a double opt-in to ensure compliance with GDPR requirements. The current readership numbers 614 but there are a lot of people who have completed only one part of the subscription process.

The monastic library received several gifts from oblates and friends, testimony not only to the donors' generosity but also to the success of the community's initiative in establishing Buy a Nun a Book Day, held annually on 17 September. Originally intended as a way of enabling poorer monasteries of nuns, especially in the developing world, to obtain some of the books they actually need (as distinct from what others think they should have or wish to give them), many houses in Europe and the U.S.A. have benefited, like the Howton Grove community, not only from material gifts but also from new friendships. Funding for a new computer was given to the community by a supporter and replaces one which died of old age and overwork earlier in the year.

Most of the community's literary efforts went into the blog and correspondence. Two interviews were given to the BBC. There was also minor participation in one programme of Sunday Live (TV) and All Things Considered (BBC Radio Wales). In general, however, the community has a policy of rarely accepting media invitations because of the way in which they take up time and resources the community no longer has at its disposal. Permission was given to reproduce several blog posts in various publications but none has yet indicated how the material will be used.

The community continued to make use of online learning resources, but the failure of Gigaclear to make good its promise to install fibre broadband access points by the second quarter of 2021 has limited the charity's online activities. Given the community's commitment to its online outreach, it may be necessary to bypass a land-based solution to internet connectivity and opt for a satellite solution.

The annual retreat held 15 - 23 August provided much-needed spiritual refreshment for the community and a period in which to reflect how to meet the changing needs of Church and society in a world where COVID-19 is likely always to be a risk. It is hoped that during the coming year there will be an opportunity to implement some of the ideas that arose.

Page 4

Holy Trinity Monastery

Report of the Trustees for the Year Ended 31 May 2021

FINANCIAL REVIEW Financial Review

The charity did not organise any fund-raising events, nor did it receive any income from legacies. The personal income of the nuns is covenanted to the charity and increased by approximately £3,000 during the course of the year. Gift-aided donations were down on 2020 levels (£15,405 as against £17,280), reflecting the number of donors who do not now qualify for the repayment of tax, but the overall level of giving held up well, and the community is very grateful for the help this gives.

There is no charge for use of the monastery's facilities but several people kindly made contributions to cover the cost of their stay, and many more made donations to show their appreciation of the community's online ministry. As stated above, the last remaining charitable bond was repaid during the course of the year (£5,000) so that the only major outstanding liability is now the mortgage loan which was £57,870 as at 31 May 2021. It is hoped to keep to a minimum the charity's exposure to the economic uncertainties following Brexitt and the COVID-19 pandemic.

The charity made a number of small gifts in money and kind to help refugees, migrants and asylum seekers, local charities, including the Hereford Food Bank, and a small monastic community in South Africa with which the community has links.

In addition to the investment with St James' Place Wealth Management plc mentioned above, the charity maintains a prudent cash reserve with its bankers to cover any unexpected repair bills. The reserves held by the charity currently amount to £610,880. The trustees have always adopted a conservative policy with regard to investment, the emphasis being on capital growth to provide for the future. This is regularly reassessed by the trustees. Plans to reorder the guest bathroom are on hold while the situation regarding COVID-19 is so uncertain.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

Holy Trinity Monastery was incorporated as a private charitable company limited by guarantee with its registered office situated in England on 10 January 2011. The governing document is the Memorandum and Articles of Association of the same date. The trustees as at 31 May 2021 are named below. In addition to regular formal meetings, the trustees are often in contact informally so are kept up to date with the charity's affairs.

According to the Memorandum and Articles of Association, the number of trustees shall not be fewer than two nor exceed eight. The statutory power of appointing trustees is vested in the trustees of the charity. Four of the current trustees have served as trustees of other trusts and have acknowledged expertise in business and management; the fifth has held several posts of responsibility both within and without the monastic community. It is envisaged that any future appointments will be made only after wide consultation. Day to day management of the charity is by Dame CDE Wybourne and Dame LLB King.

Other

The charity does not have any employees, nor any volunteers. Nevertheless, it maintains suitable guidelines to cover concerns about equality, safety, risk assessment and safeguarding and the trustees are satisfied that sufficient insurance is held to cover identifiable risks.

The trustees would like to record their gratitude to all who have contributed to the life of the community during the past year and whose generosity has enabled the nuns to do much more than would have been possible otherwise.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Holy Trinity Monastery for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Page 5

Trlnl l M# 2021 STATEMENT OF TRUSTEES, RESPONSIB￿rnEs . eontlnued Cornpany law requires the trUStees to prepare financial statements for each fmancial year which give a tsue and fair view of the state of affairs of the eharktable company and of the incoming resources and application of ￿sOurces, including the income and expenditure. of the charitsble company for peri(yJ. In preparing those financial ststrments, the tsustees are wuired io select suitable accouniing ￿)licIeS amd then apply them consis*ntly; obSe￿e the methods and principles in the Charity SORP: make judgements and estimates that arr reasonable and Pn￿ent. prepare the financia] Sta￿ments on the going concern basis unless it is inappropriate to presume thai the charttable eompany will continue in business. The tyusiees are resFrf)nsible for keeping prO￿r accounting records which di5¢1ose with reasonable accllwy at any tirne the financial w)sition of the chariiable company and (o enable them to ensure that the fJnancia] statements ¢omply with the Companies Aci 2(M)6. They are olso responsible for safeguardtng the assets of the charitable cotnpany and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. In so far &5 the tyusiees are awore: there is no relevani audii inforniaiion of whi¢h the charitable Company's auditor5 ar¢ unaware: and the trnstees have taken all steps th￿ they ought to have taken to tnake thetnselves aware of any relevant audit infornwion and to e5tabli$h that the auditors ore aware of that infonnation. AUDvfoRS The auditors. Town & Forest. will be proFKJsed for re-app)intment at the forthcoming Annual General Mttting. Approved by order of the FK)ard of trllstees on .............. ....... . and signed on its behalf by: J Clement- Trnstee Page 6

Report of the Independent Auditors to the Members of Holy Trinity Monastery

Opinion

We have audited the financial statements of Holy Trinity Monastery (the 'charitable company') for the year ended 31 May 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 7

Report of the Independent Auditors to the Members of Holy Trinity Monastery

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the Companies Act 2006, FRS 102 and Charities Act 2011.

We assessed the risks of material misstatement in respect of fraud as follows: we made full enquiries with management and those charged with governance. As part of our fraud discussions we discussed particular areas we believed to be susceptible to misstatement. Also during our audit we paid particular attention to looking for any related party transactions, however there were no related party transactions in this entity.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

Report of the Independent Auditors to the Members of Holy Trinity Monastery

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Zara Dunster FCA (Senior Statutory Auditor) for and on behalf of Town & Forest Chartered Accountants & Statutory Auditors Cornerways House School Lane Ringwood Hampshire BH24 1LG 28 February 2022 Date: .............................................

Page 9

Holy Trinity Monastery

Statement of Financial Activities for the Year Ended 31 May 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
61,638
Activities for generating funds
2
-
Investment income
3
6,090
Other income
93
Total
67,821
EXPENDITURE ON
Raising funds
3,293
Charitable activities
Charity
36,328
Total
39,621
Net gains/(losses) on investments
40,544
NET INCOME/(EXPENDITURE)
68,744
RECONCILIATION OF FUNDS
Total funds brought forward
542,136
TOTAL FUNDS CARRIED FORWARD
610,880		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 31.5.21
Total
funds
£
61,638
-
6,090
93
67,821
3,293
36,328
39,621
40,544
68,744
542,136
610,880		 31.5.20
Total
funds
£
55,327
40
8,934
381
64,682
3,317
62,608
65,925
(20,524)
(21,767)
563,903
542,136

The notes form part of these financial statements

Page 10

Hol Trlnlt Monasttr . 0748721 tatemen 31 Ma 2021 31.521 Total nds 31.5.20 Total funds Unrestricted fund Restricted fund No￿S FIXED ASSETS Tangible assets Investments 391540 244,411 391YO 244.411 396.307 198 677 635.951 635,951 594,984 CURRENT ASSETS st￿ks Debtors Cash at bank and in haltd 4253 75 4253 75387 4559 79.7 79.7(M) 75.109 CREDITORS Amounts. fdlbng due within one year 10 (13375) (13375) (18396) NET CURRENT ASSETS 66J25 56213 TOTAL ASSETS LESS CURRENr LIABILITI&S 702,276 702276 651,197 CREDITORS Amounts falling due after mott than one year 191,396) (91,396) {1091161) NET ASSETS 610,880 610880 542.136 FUNDS Unrestricted funds 13 610,880 542 136 TOTAL FUNDS 610,880 542.136 These financia] ststements have been prepared in ￿OrdanCe with the provisions applicable to charitable wmpanies subject to the small companies regime. The financi sthiements were approved by th¢ Board of Trnstees and authorised for i55ue on 2.fylozl 202 L and w¢r¢ signed on its behalf by.. J Clement- TNs*e The note$ forni part of these financial statements Page 11

Holy Trinity Monastery

Notes to the Financial Statements for the Year Ended 31 May 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The presentation currency of the financial statements is the Pound Sterling (£).

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Raising funds

The costs of generating voluntary income includes advertising and a proportion of catering and heating costs to cover residential costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Plant and machinery - not provided Fixtures and fittings - 15% on reducing balance Motor vehicles - 20% on reducing balance Computer equipment - 33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

continued...

Page 12

Holy Trinity Monastery

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

1. ACCOUNTING POLICIES - continued

Provisions and accruals

Services provided by members of the community

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

2. ACTIVITIES FOR GENERATING FUND S

2. ACTIVITIES FOR GENERATING FUND S
31.5.21 31.5.20
£ £
Literary and Royalties - 40
3. INVESTMENT INCOME
31.5.21 31.5.20
£ £
Other fixed asset investments - FII 6,090 8,934
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.5.21 31.5.20
£ £
Auditors' remuneration 2,461 2,401
Depreciation - owned assets 10,805 11,375
Deficit on disposal of fixed assets 41 -

5. TRUSTEES' REMUNERATION AND BENEFITS

There was no trustees' remuneration or other benefits say for monastic accommodation in the year ended 31 May 2021 nor for the year ended 31 May 2020.

The average number of trustees during the year was 5 (2020 - 5).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 May 2021 nor for the year ended 31 May 2020.

continued...

Page 13

Holy Trinity Monastery

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

6. TANGIBLE FIXED ASSETS

COST
At 1 June 2020
Additions
Disposals
At 31 May 2021
DEPRECIATION
At 1 June 2020
Charge for year
Eliminated on disposal
At 31 May 2021
NET BOOK VALUE
At 31 May 2021
At 31 May 2020
COST
At 1 June 2020
Additions
Disposals
At 31 May 2021
DEPRECIATION
At 1 June 2020
Charge for year
Eliminated on disposal
At 31 May 2021
NET BOOK VALUE
At 31 May 2021
At 31 May 2020		 Freehold
property
£
417,072
-
-
417,072
50,732
6,341
-
57,073
359,999
366,340
Motor
vehicles
£
12,831
-
-
12,831
8,405
885
-
9,290
3,541
4,426		 Plant and
machinery
£
3,000
-
-
3,000
-
-
-
-
3,000
3,000
Computer
equipment
£
1,622
1,419
(526)
2,515
1,555
210
(504)
1,261
1,254
67		 Fixtures
and
fittings
£
39,688
4,660
(69)
44,279
17,214
3,369
(50)
20,533
23,746
22,474
Totals
£
474,213
6,079
(595)
479,697
77,906
10,805
(554)
88,157
391,540
396,307

Included in the cost of land and buildings is freehold land of £100,000 which is not depreciated.

continued...

Page 14

Holy Trinity Monastery

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

7. FIXED ASSET INVESTMENTS

7. FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 June 2020 and 31 May 2021 189,119
PROVISIONS
At 1 June 2020 (9,558)
Revaluation adjustments (45,734)
At 31 May 2021 (55,292)
NET BOOK VALUE
At 31 May 2021 244,411
At 31 May 2020 198,677
There were no investment assets outside the UK.
8. STOCKS
31.5.21 31.5.20
£ £
Stocks 60 60
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.21 31.5.20
£ £
Other debtors 3,851 4,312
Prepayments 402 247
4,253 4,559
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.21 31.5.20
£ £
Bank loans and overdrafts (see note 12) 10,308 10,308
Other creditors 207 545
Charitable Bonds repayable - 5,000
Accrued expenses 2,860 3,043
13,375 18,896

Page 15

continued...

Holy Trinity Monastery

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 12)
Dowers		 31.5.21
£
47,562
43,834
91,396		 31.5.20
£
65,227
43,834
109,061

Bank loans are secured by fixed and floating charges over the property owned by the company.

12. LOANS

An analysis of the maturity of loans is given below:

Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 years by instalments:
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
67,821
TOTAL FUNDS
67,821		 At 1.6.20
£
542,136
542,136
Resources
expended
£
(39,621)
(39,621)		 31.5.21
31.5.20
£
£
10,308
10,308
10,308
10,308
30,923
30,923
6,331
23,996
Net
movement
At
in funds
31.5.21
£
£
68,744
610,880
68,744
610,880
Gains and
Movemen
losses
in funds
£
£
40,544
68,744
40,544
68,744		 31.5.20
£
10,308
10,308
30,923
23,996
At
31.5.21
£
610,880		 31.5.20
£
10,308
10,308
30,923
23,996
At
31.5.21
£
610,880
610,880
68,744

13. MOVEMENT IN FUNDS

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continued...

Holy Trinity Monastery

Notes to the Financial Statements - continued for the Year Ended 31 May 2021

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.6.19
£
Unrestricted funds
General fund
563,903
TOTAL FUNDS
563,903
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
64,682
(65,925)
TOTAL FUNDS
64,682
(65,925)		 Net
movement
At
in funds
31.5.20
£
£
(21,767)
542,136
(21,767)
542,136
Gains and
Movement
losses
in funds
£
£
(20,524)
(21,767)
(20,524)
(21,767)

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 May 2021.

Page 17

Holy Trinity Monastery

Detailed Statement of Financial Activities
for the Year Ended 31 May 2021
31.5.21 31.5.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Voluntary income 57,786 51,014
Gift aid 3,852 4,313
61,638 55,327
Activities for generating fund s
Literary and royalties - 40
Investment income
Other fixed asset investments - FII 6,090 8,934
Other income
Bank interest received 93 381
Total incoming resources 67,821 64,682
EXPENDITURE
Raising donations and legacies
Cost of generating voluntary income 3,154 3,263
Costs of generating funds
Fundraising trading: cost of goods sold and other
costs 139 54
Charitable activities
Community accommodation 1,546 5,669
Insurance 470 644
Light and heat 1,403 2,167
Rates and water 1,685 1,629
Motor and transport 1,374 961
Repairs 10,979 31,888
Telephone 568 519
Sundries 1,040 478
Freehold property 6,341 6,341
Fixtures and fittings 3,368 3,896
Motor vehicles 885 1,106
Computer equipment 210 32
Loss on sale of tangible fixed assets 41 -
29,910 55,330
Support costs
Finance
Bank charges 297 142
Carried forward 297 142

This page does not form part of the statutory financial statements

Page 18

Holy Trinity Monastery

Detailed Statement of Financial Activities
for the Year Ended 31 May 2021
31.5.21 31.5.20
£ £
Finance
Brought forward 297 142
Mortgage 2,760 3,835
3,057 3,977
Governance costs
Auditors' remuneration 2,461 2,401
Legal fees 900 900
3,361 3,301
Total resources expended 39,621 65,925
Net income/(expenditure) before gains and
losses 28,200 (1,243)
Unrealised recognised gains and losses
Unrealised gains/(losses) on fixed asset investments 40,544 (20,524)
Net income/(expenditure) 68,744 (21,767)

This page does not form part of the statutory financial statements

Page 19