2022-09-30-accounts - Downside Abbey General Trust

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			LEGAL AND ADMINISTRAllVE	LEGAL AND ADMINISTRAllVE	LEGAL AND ADMINISTRAllVE	LEGAL AND ADMINISTRAllVE	INFORMATION
Trustees/Monastic		Councg	Reverend	Nicholas	Philip Wetz	(Abbot) (Controger of
			the Trust(
			Rev Martm	Joseph	Hood
			Rev Mare	David Brumweg
			Rev David	Roger Charlesivorth
			Mr Richard	Peter Bevan			(Appointed	9 November	2021)
Charity number			1158507
Company	number		09124570
Registered	office		Downside	Abbey
			Stratton-on-the-Fosse
			RADSTOCK
			BA3 4RH
Auditor			Old Mill Audit Umited
			Bishop brook House
			CathedralAvenue
			YVELLS
			Somerset
			BA5 1FD
Bankers			Barclays Bank Pic
			37 Milsom	Street
			BATH
			Somerset
			BA11DW
Sogcltors			Stone Kmg	LLP
			13Queen	Square
			BATH
			Somerset
			BA1 2HI
Investment	advisors		BNY Mellon Asset Management			Dmited
			The Bank of New York Centre
			160Queen	Victoria	Street
			LONDON
			EC4V 4LA
Insurance	Broker		PIB Insurance
			Poppleton	Garage
			Low Poppleton Lane
			YORK
			YO26 6G2

The	reserves ofthe Charity	reserves ofthe Charity	are those funds that	are freely available to be spent	the Chanty's oblects	The free reserves of
the	Charity	at the fmanmal	year end were
					2022	2021
						as restated
Tota	I Reserves as at 30September				19,400,202	22,695,800
Less
Restricted		Funds			(886,142)	(789,553)
Designated		Funds			(12,598)	(12,822)
Unrestncted Funds which			could only be reahsed	by	(9,951,957)	(10,241,997)
deposing		ofthe fixed assets held for chanty use
Free	Reserves Surplus				8,549,505	11,651,428

					Unrestricted	Unrestricted	Restricted	Total	Total
					funds	funds	funds	2022	2021
					generaldeslgnated				as restated
				Notes	6	6
Income and endowments		from:
Donations and	leRaues				165,032		157,634	322,666	251,645
Chantable activities
Monastic Income					474,593			474,593	458,008
Investments					367,886		12,166	380,184	363,461
Other					59,445			59,445	821,282
Total Income and endowments					1,066,956	132	169,$M	1,236,888	1,894,396
Raising funds					96,085			96,085	84,750
Charrtable activities
Monastic					4 7II2 783		40,417	4,783,200	953,865
Total charitable	expenditure				4,742.783		40.417	4,783.200	953.865
Total resources	expended				4,838,868		40,417	4,879,285	1,038,615
Nei gdllis uii lilvesilllellis				15	379,949	(356)	f32,794)	346,799	2,245,479
Net movement	In funds				I3,391,963)	(224)	96,589	I3,295,5981	3,101,260
Fund balances	at 1October 2021				21,893,425	12,822	789,553	22,695,800	19,594,540
Fund balances	at 30September		2022
					18,501,462	12,598	886,142	19,400,202	22,695,$M

							2022		2021
									as restated
						Notes
Rxed assets
Tangible assets						16		9,951,957		10,241,997
Investment		properties				17		12,152,371		11,665,878
Investments						18				571,735
								22,104,328		22,479,610
Current assets
Stocks						21	52,199		54,461
Debtors						22	303,983		240,919
Investments						20	538,585
Cash at bank and			in	hand			281,341		506,154
							1,176,108		801,534
Creditors:	amounts			falling due within one year		23
							(796,647)		(585,344)
Net current		assets						379,461		216,190
Total assets		less current			liabilities			22,483,789		22,695,800
Provisions	for Rabgltles							(3,083,587)
Net assets								19,400,202		22,695,800
Income funds
Restricted	funds					26		886,142		789,553
~nrestncted		funds
Designated		funds				27	12,598		12,822
General unrestricted				funds		28	18,501,462		21,893,425
Unrestncted		funds						18,514,060		21,906,247
								19,400,202		22,695,800

							2022		2021
									as restated
						Notes
Rxed assets
Tangible assets						16		9,951,957		10,241,997
Investment		properties				17		12,152,371		11,665,878
Investments						18				571,737
								22,104,328		22,479,612
Current assets
Stocks						21	52,199		54,461
Debtors						22	303,983		240,919
Investments						20	538,585
Cash at bank and			in	hand			281,341		506,154
							1,176,108		801,534
Creditors:	amounts			falling due within one year		23
							(796,647)		(585,346)
Net current		assets						379,461		216,188
Total assets		less current			liabilities			22,483,789		22,695,800
Provisions	for Rabgltles							(3,083,587)
Net assets								19,400,202		22,695,800
Income funds
Restricted	funds					26		886,142		789,553
~nrestncted		funds
Designated		funds				27	12,598		11,727
General unrestricted				funds		28	18,501,462		21,893,425
								18,514,060		21,906,247
								19,400,202		22,695,800

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								2022	2021
									as restated
	Income							1,236,888	1,894,396
	Donat on from subsidiary				company
								1,236,888	1,894,396
	Expenditure							(4,879,285)	(1,038,615)
	Gain / (loss) on Inuestment				asset			346,799	2,245,479
								(3,295,598)	3,101,260
	Total funds	brought		forward				22,ii95,800	19,594,540
	Total funds	carried		forward				19,400,202	22,695,800
	Represented		by
	Restncted	funds						886,142	789,553
	Designated	funds						12,598	12,822
	Unrestncted		fund					18,501,462	21,893,425
								19,400,202	22,695,800
4	Donations	and legacies
						Unrestricted	Restricted	Total	Total
						funds	funds	2022	2021
						general
	Donations,	gifts ard		legaoes		89,594	157,634	247,228	108,194
	Grant income								21,204
	Other					75,438		75,438	122,247
						165,032	157,634	322,666	251,645
	For the year		ended	30September 2021		239,495	12,150		251,645

5	Charitable activities	Charitable activities
					2022	2021
	Charitable rental	mcome			446,238	447,235
	Other income				28,355	10,773
					474,593	458,008
6	income from subsidiary
					2022	2021
					6	6
	Iurnover and otherincome
	Cost ofsales and	administration	costs
	Rent receivable
	Interest payable	to the chanty
	Net Profit
	Donat on to the	chanty
	Profft/floss) for	the year
	The assets and habihtes ofthe		subsidiary	were
	Current assets
	Current liabilites
	Non current habihtes
	Total net assets
	Aggregate share	capital and reserves

				Unrestricted	Unrestricted	Unrestricted	Restricted	Restricted	Tote I	Total
				funds		funds			2022	2021
				generaldesignated
							6
Rental income				366,791					366,791	350,336
Dwidends from Investments		listed on a
recogmsed stock exchange						132		12,166	12,298	12,401
Interest receivable				1,095					1,095	724
				367,886		132		12,166	380,184	363,461
For the year	ended 30September 2021			351,060		133		12,268		363,l61
Other
									2022	2021
Otherincome									35,464	25,557
Hernage asset sales									19,881	385,755
Profitiflossf	on the disposal	oftangible	fixed	assets, mvestment	properties	& Downside		Mission
Trust churches									4,100	409,970
									59,445	821,282
For the year	ended 30September 2021									821,282

			2022	2021
			6	6
	Fundrai	sing other costs	20,285	5,020
	Fundraising staff costs		75,800	79,730
			96,085	84,750
10	Grants	payable
			2022	2021
	Grants	to mstituti one:
	Downside School		3,596,087
	Little Sisters ofthe Poor
			3,596,087
	Grants	to mdividuals	3,960	1,580
			3,600,047	1,680

			2022	2021
				as restated
Staff costs			106,699	66,004
Depreciation	and impairment		372,094	335,248
Welfare			74,935	70,100
Premises			240,411	231,582
Support			298,331	158,272
			1,092,470	861,206
Grant fundmg	ofactivities (see note 10)		3,600,047	1,680
Share ofgovernance		costs (see note 13)	90,683	90,979
			4,783,200	953,865
Analysis by fund
Unrestncted	funds	general	4,742,783
Restncted funds			40,417
			4,783,200
For the year	ended	305eptember 2021
Unrestncted	funds	general		928,809
Restncted funds				25,056
				953,865

The average	monthly number ofemployees dunng the year	was
		2022	2021
		Number	Number
Voluntary
Premises
Support
Employment	costs	2022	2021
Wages and salanes		226,829	197,467
Soaal secunty costs		15,834	12,209
Other pension costs		10,279	8,775
		252,942	218,451

			Unrestricted	Unrestricted	Restricted	Total	Total
			funds	funds	funds	2022	2021
			generaldeslgnated				as restated
			6	6
Revaluation	of mvestments			056)	(32,7941	(33,150)	89,698
Revaluation	of mvestment	properties	379,949			379,949	2,155,781
			379,949	056)	(32,7941	346,799	2,245,479
For the year	ended 30September 2021		2,155,781	962	88,736		2,245,479


16	Tangible fixed as		sets-c	hari	ty(also	comprising	that ofthe group)
							land	and bugdlngs	Rxtures, fittings Ik	Mmix vchldes
									Ip t
	Cost
	At 1October	2021						10,628,135	1,581,589	12,855	12,222,579
	Additions							34,433	31,861	19,160	85,454
	Disposals								(47,964)	(4,000)	(51,964)
	At 30September		2022					10,662,568	1,565,486	28,015	12,256,069
	Depreciation	and	impairment
	At 1October	2021						1,457,612	515,739	7,231	1,980,582
	Depreciation	charged		in the year				247,090	122,781	2,223	372,094
	Fhmmated In respect of disposals								(47,964)	(600)	(48,564)
	AI 30 Seplvrnber		2022					1,704,702	590,556	8,854	2,304,112
	Carrying amount
	At 30September		2022					8,957,866	974,930	19,161	9,951,957
	At 30September		2021 as restated					9,170,523	1,065,850	5,624	10,241,997
17	Investment	property-charity(also				comprising	that ofthegroup)
											2022
	Fair value
	At 1October	2021									11,665,878
	Additions										106,544
	Ivet gains or	losses through			fair value ad)ustments						379,949
	At 30September		2022								12,152,371

		Listed Investments	Investmentln	Total
			subsidiary
Cost or valuation
At 30September	2021	571,735		571,737
Onreaksed Gain/(Loss)		(33,150)		(33,150)
Tranfer to current	asset investment	(538,585)		(538,585)
Disposals			(2)	0)
At 30September	2022
Carrying amount
At 30September	2022
At 30September	2021	571,735		571,737

	No ofshares Investments	Market	Market	Market	value
	357,220.16 Global Growth	and Income	Fund		for Chanties	1538,585
						Group		Chadty
						2022	2021	2022	2021
	Other investments comprise			Notes
	Investments in subsidianes				35
19	Financial Instruments					Group		Charity
						2022	2021	2022	2021
	Carrying amount offinancial	assets
	Debt instruments measured	at amortised	cost			105,377	71,527	ID5,377	71,527
	Equity mstruments measured	at cost less	impairment
							571,733		571,735
	Instruments measured at fair value through			profit or
	loss					538,585		538,585
	Carrying amount offinancial	liabilities
	Measured at amortised cost					791,938	579,550	791,938	579,550

20	Current	asset		investments	investments
								2022	2021
									6
	Unlisted	mvestments						538,585
21	Stocks					Group		Charity
						2022	2021	2022	2021
	Cmi hcd	goods		and good for rcmlc		52,199	54,461	52,199	54,461
22	0 bt~
						Group		Charity
						2022	2021	2022	2021
	Amounts	faglng due			wlthln one year:
	Trade debtors					14,884	13,859	14,884	13,859
	Other debtors					90,628	57,668	90,628	57,668
	Prepayments		and accrued inccme			198,471	169,3 2	198,471	169,392
						303,983	240,919	303,983	240,919
23	Creditors: amounts faging due wlthln one year					Group		Charity
						2022	2021	2022	2021
								6
	Other taxation			and sooal security		4,709	5,796	4,709	5,796
	Trade creditors					312,663	248,630	312,663	248,630
	Other creditors					45,891	332c1	45,891	33,293
	Accruals	and deferred			income	433,384	297,627	433,384	297,627
						796,647	585,344	796,647	585,346

				Movement In funds	Movement In funds
			Balance at 1	Incoming	ResourcesGalns,	Losses and	Balance at 30
			October 2021	resources	expendedTransfers		September 2022
Eccles astical Education			229,973	110,296	(5,129)	(10,446)	324,694
Abbey Church		Extension	206,741	3,767	(16,596)	(7,483)	186,429
Fnends of	Downside		1,919	218			2,137
Downside	School			50,000			50,000
St Vedast	Fund		248,157	3,980	(18,569)	(10,715)	222,853
DtherFunds			102,763	1,'39	(123)	(4,150)	100,029
			789,553	169,800	(40,417)	(32,794)	886,142
Prior Year				Movement In funds
			Balance at 1	Incoming	ResourcesGains,	Lasses and	Balance at 30
			October 2020	resources	expendedTransfers		September 2021
Eccles astical Education			199,308	9,455	(7,056)	28,266	229,973
Abbey Church		Extension	181,985	6,241	(1,734)	20,249	206,741
Friends of	Downside		810	1,109			1,919
St Vedast	Fund		229,370	6,061	(16,266)	28,992	248,157
DthcrFund			89,982	1,552		11,229	102,763
			701,455	24,418	(25,056)	88,736	789,553

		Movementln funds	Movementln funds
	Balance at 1	Incoming	ResourcesGalns,	Losses and	Balance at 30
	October2021	resources	expendedTransfers		September 2022
Genera)funds	21,893,425	1,066,956	(4,838,868)	379,949	18,501,462
Total unrestnctedfunds	21,893,425	1,066,956	(4,838,868)	3 9,949	18,501,462
Prior Year as restated		Movement ln funds
	Balance at 1	Incoming	ResourcesGalns,	Losses and	Balance at 30
	October2020	resources	expendedTransfers		September 2021
Genera)funds	18,881,358	1,869,845	(1,013,559)	2,155,781	21,893,425
Total unrestnctedfunds	18,881,358	1,869,845	(1,013,559)	2,155,781	21,893,425

Analysis ofgroup net assets be	tween	funds
			Unrestricted Designated		Restricted		Total
			6	E			6
Fund balances at 30September	2022	are r presented
by
Tangible assets			9,951,957				9,951,957
Invest Trent properties			12,152,371				12,152,371
Investvrents			(538,585)	12,064		526,521
Current assets/(liabilities)			19,306			359,621	379,461
Provisions			(3,083,587)				(3,083,587)
			18,501,462	12,5'lP.		886,142	1'l,400,202
Prior year as restated
Analysis ofgroup net assets between		funds
			Unrestncted Designated		Restncted		Total
			6	E
Fund balances at 30September	2021	are represented
by
Tangible assets			10,241,997				10,241,997
Investvrent properties			11,665,878				11,665,878
Investvrents				12,287		559,450	571,737
Current assets/(gabglties)			(14,450)	535		230,103	216,188
			21,893,425	12,822		789,553	22,695,800

	2022	2021
Wrthm one year	425,000	425,000
Between two and five years	425,000	850,000
	850,000	1,275,000

The comparative fi	gures as	at 30September 2021 have be	en amended accordmgly as follow	s:
		As previously stated	Prior year adJustment	As restated
		5	E	5
Land and buildmgs	cost	10,732,400	(104,265)	10,628,135
Land and buildmgs depreaation		(1,461,3581	3,746	(1,457,612)
Fixtures cost		2,073,190	(491,6D1)	1,581,589
Fixtures depreaation		(732,863)	217,124	(515,739)
Unrestncted funds		(22,268,421)	374,996	(21,893,425)
Total		(11,657,052I		(11,657,052)

Cash generated from operations	Cash generated from operations			Group		Charity
				2022	2021	2022	2021
					as restated		as restated
(Deficn)/surpus fo the year				(3,295,598)	3,101,260	(3,295,598)	3,101,260
Adjustments for
Investment mcome recogmsed	in profit or		loss	(380,184)	(363,461)	(380,184)	(363,461)
(Gain) / Loss on disposal oftangible assets				(4,100)	9,373	(4,100)	9,373
Fair value gams and losses on	investment		properties
				(379,949)	(2,155,781)	(379,949)	(2,155,781)
Fair value gams and losses on	investments			33,152	(89,698)	33,152	(89,698)
Depreciation and impairment	oftangible	fixed assets
				372,094	335,248	372,094	335,248
Muvements m wurkmg capital
Decrease m stocks				2,262	16,757	2,262	16,757
(Increase)/decrease In debtors				I63,064)	302,136	(63,064)	302,136
Increase/(decrease) in creditors				211,301	(616,800)	211,301	(616,800)
Increase m provisions				3,083,587		3,083,587
Cash (absorbed by)/generated	from operations			(420,499)	539,034	(420,499)	539,034