## 



## 

||||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<br>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<br>Lane|||||||
||||YORK|||||||
||||YO26 6G2|||||||





## 






## 


## 

## 








## 

## 

## 

## 

|The|reserves ofthe Charity|reserves ofthe Charity|are those funds that|are freely available to be spent|m pursumg|the Chanty's<br>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<br>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<br>and|leRaues||||165,032||157,634|322,666|251,645|
|Chantable<br>activities||||||||||
|Monastic<br>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,$M|1,236,888|1,894,396|
|Raising funds|||||96,085|||96,085|84,750|
|Charrtable<br>activities||||||||||
|Monastic|||||4 7II2 783||40,417|4,783,200|953,865|
|Total charitable|expenditure||||4,742.783||40.417|4,783.200|953.865|
|Total resources|expended||||4,838,868||40,417|4,879,285|1,038,615|
|Nei gdllis uii lilvesilllellis||||15|379,949|(356)|f32,794)|346,799|2,245,479|
|Net movement|In funds||||I3,391,963)|(224)|96,589|I3,295,5981|3,101,260|
|Fund balances|at 1October 2021||||21,893,425|12,822|789,553|22,695,800|19,594,540|
|Fund balances|at 30September||2022|||||||
||||||18,501,462|12,598|886,142|19,400,202|22,695,$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|





||n|0 <br>0|Z<br>ID|Z<br>ID|0|ID|Z|0||0||0|n|9||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|ID<br>0.<br>3<br>I<br>0<br>ID<br>0.0|C||3.|0<br>0<br>3<br>W|0<br>O<br>D<br>C3<br>C|l1<br>W<br>08<br>C<br>ID|5'<br>Ol<br>ID<br>0350fl<br>5<br>W|3<br>3|30<br>30<br>0<br>Cl<br>D|D<br>0<br>0<br>0<br>W0'|D<br>0<br>W<br>0Z|5<br>DD<br>K<br>R'|00' <br>I<br>fl.<br>03|0<br> 0<br>'I<br>W<br>Q0<br>0||||||||
|'0<br>ID|I0||5.||||K|||Da|||0<br>'O|||||||||
||C||||||R'||||||0|||||||||
||||||||||||||||Z0|||||||
||||||||||||||||ID|||||m||
|||||||||||||||||||||Z||
|||||||||||||||||||||0||
|||||||||W<br>O|O<br>0|||||||||||||
|||||||||||||||||||Gl<br>00<br>Cl|0|Z<br>0|00|
|CD<br>D|IC<br>C<br>O|D<br>C||||||C|O<br>C||W||0<br>ClI00|||||9|0.'<br>m<br>Zl<br>mZ0<br>m0<br>COO<br>m0|Z0n0Z<br>0<br>0|O<br>m<br>CP<br>m<br>Cl<br>mZ<br>m|
||||||||||||||||||||m|m0||
||||||||||||||||||||IP|||
||0o<br>II|00|||||||||||0<br>CD<br>00||||Io<br>IDH||m<br>Zl<br>DOo<br>DD<br>00|m<br>Z|C|
|||||||||||||||||||||0||
||||||8<br>8|||O<br>0|||00<br>o|||||||Gl<br>00||Z<br>0||
|8|8|0||8|||||||||0|||||||||
||||||||||||||||||CD|||||
||||||||||||||0||||I|||||
||||||8<br>C8|||W<br>O<br>0|||00<br>O|||||||||||
|||||||||||||||||D||||||



























## 

## 

## 

## 

|||||||||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<br>activities|Charitable<br>activities|||||
|---|---|---|---|---|---|---|
||||||2022|2021|
||Charitable<br>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<br>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<br>liabilites||||||
||Non current<br>habihtes||||||
||Total net assets||||||
||Aggregate<br>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<br>from Investments||listed on a|||||||||
|recogmsed<br>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<br>staff costs||75,800|79,730|
||||96,085|84,750|
|10|Grants|payable|||
||||2022|2021|
||Grants|to mstituti one:|||
||Downside<br>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<br>by fund|||||
|Unrestncted|funds|general|4,742,783||
|Restncted<br>funds|||40,417||
||||4,783,200||
|For the year|ended|305eptember 2021|||
|Unrestncted|funds|general||928,809|
|Restncted<br>funds||||25,056|
|||||953,865|



## 



## 

## 



## 

## 

## 

## 

|The average|monthly<br>number<br>ofemployees<br>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<br>Ik|Mmix vchldes||
||||||||||Ip<br>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<br>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<br>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<br>Investments|Market|Market|Market|value|||||
|---|---|---|---|---|---|---|---|---|---|
||357,220.16<br>Global Growth|and Income|Fund||for Chanties|1538,585||||
|||||||Group||Chadty||
|||||||2022|2021|2022|2021|
||Other investments<br>comprise|||Notes||||||
||Investments<br>in subsidianes||||35|||||
|19|Financial Instruments|||||Group||Charity||
|||||||2022|2021|2022|2021|
||Carrying amount offinancial|assets||||||||
||Debt instruments<br>measured|at amortised|cost|||105,377|71,527|ID5,377|71,527|
||Equity mstruments<br>measured|at cost less|impairment|||||||
||||||||571,733||571,735|
||Instruments<br>measured<br>at fair value through|||profit or||||||
||loss|||||538,585||538,585||
||Carrying amount offinancial|liabilities||||||||
||Measured<br>at amortised<br>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<br>hcd|goods||and good<br>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<br>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<br>In funds|Movement<br>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<br>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<br>funds|Movementln<br>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<br>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<br>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<br>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<br>Designated||Restncted||Total|
||||6|E||||
|Fund balances at 30September|2021|are represented||||||
|by||||||||
|Tangible assets|||10,241,997||||10,241,997|
|Investvrent<br>properties|||11,665,878||||11,665,878|
|Investvrents||||12,287||559,450|571,737|
|Current<br>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|





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## 

|The comparative<br>fi|gures as|at 30September 2021 have be|en amended<br>accordmgly<br>as follow|s:|
|---|---|---|---|---|
|||As previously<br>stated|Prior year adJustment|As restated|
|||5|E|5|
|Land and buildmgs|cost|10,732,400|(104,265)|10,628,135|
|Land and buildmgs<br>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<br>funds||(22,268,421)|374,996|(21,893,425)|
|Total||(11,657,052I||(11,657,052)|



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|36|Cash generated<br>from operations|Cash generated<br>from operations|||Group||Charity||
|---|---|---|---|---|---|---|---|---|
||||||2022|2021|2022|2021|
|||||||as restated||as restated|
||(Deficn)/surpus<br>fo the year||||(3,295,598)|3,101,260|(3,295,598)|3,101,260|
||Adjustments<br>for||||||||
||Investment<br>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<br>and impairment|oftangible|fixed assets||||||
||||||372,094|335,248|372,094|335,248|
||Muvements<br>m wurkmg<br>capital||||||||
||Decrease<br>m stocks||||2,262|16,757|2,262|16,757|
||(Increase)/decrease<br>In debtors||||I63,064)|302,136|(63,064)|302,136|
||Increase/(decrease)<br>in creditors||||211,301|(616,800)|211,301|(616,800)|
||Increase<br>m provisions||||3,083,587||3,083,587||
||Cash (absorbed by)/generated|from operations|||(420,499)|539,034|(420,499)|539,034|