Chartty rog18tratlon number f158507 Company roglstratlon number 09124S70 IEngland and Waletsl DOWNSIDE ABBEY GENERAL TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 DOWNSIDE ABBEY GENERAL TRUST LEGAL AND ADMINISTRATIVE INFORMATION TrusteB5 Rev Nicho12s Philip W8tz (Abbot) Iconlrollèr of the Tnjsll Rev M¥ri4n Jeseph Hood Rov fvtar¢ Davld Brumwell Mr Rlcttard Peter 8evg Charfty numbor 1158507 Companynumbor 09124570 Ro9I6tered offi¢• DownBide Abbey Stratton￿n-the-FOSS0 RADSTOCK BA3 4RH Audlior ML Audit LLP 4 Quetn street BATH Somtrrset BAI 1HE Lloyds Bank P 47 Mi180m Street BAT Somerset BA1 IDN Stone Klng LLP 13 Queen Square 8ATH Somersèt BA12HJ In•uran¢e 8roker PIB Insurancg Poppieion Gar8ge Low Poppleion Lan8 YORK Y0265GZ DOWNSIDE ABBEY GENERAL TRUST CONTENTS Trust895' report Independent audltof5 Trport 8- 10 ststemèntof financial activit￿8 8alan¢e sheet 12 Slotemenl of Ikwrd 13 Note9 to the finan¢lal stAierngnts 14- 36 DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT IINCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Trustee$ present their 8nnual report and financlal stklements for thè ye8r ondèd 30 Seplomber 2025 The fin¥nGial stat8m•nts have been prepared in accord8nce with the accounlino poli¢l$$ 881 out 4Th noto 1 to ttte finaDcial statements an(5 comply with Ihe Charity's Mefflorandun and Artic￿5, thè Companies Act 2008 and "Accoufjting and Reporting by Charities". Statement of ReGoffimended Pract￿￿ appllcable lo rharilie5 PTepann9 their accoun15 in 8ccord8nce with Ihe FinanGbl Reporknng stsndard appllcabk8 in Ihe UK Republ￿ of Ireland IFRS 102118ffective 1 January 20191.. Obloctiv4s ¥nd a¢tsvh The obieGls ol the Chaiity Include:. Any such ch8ritsble purposo or purpo¥o9 approvèd by Ihg Controller as in the opknion Of the Tru$tee8 1$ or are conducive to the 8dvancem?nt or mainiefjanc@ of tho Rornan Catholi¢ r¥llgiOn, in¢lvdin9:" Tne provis￿. m8thten&nce 8nd ￿keeP rt.- Church88 8nd chsp81$ for Ihtr Roman Church 8nd parish r￿fft$ and h811¥ ID cOnDp￿ON th8*." Houses of study, eolleges or semlnarfes for Ihe educ0￿On and Iralnlng of priests and persons d951rous of bt¢omlng prlests of the Roman Catholi¢ church". and Schods. coll8ges and oducaih)nal establlshrf*nls for the 96neFal edutAtion 8nd othar parsons. W8 alm Ihrough the work of lh8 Trust to bé a focal tentre for Cathol￿, 8engUistine Ilfè and lo be a suslain8ble community. In setting OUT obJ'fjdlve$ and pk9nniny our actiTrAtles %Ye. the Trustees. have given careful consioarallon th the Charity Commission's general guKJanre on public benefit and in particular to ils supplement8ry publlc b8n*fil guldance on advancing edU￿tIon. Our key obl4ctive8 for the yeBr hc1ud¢(J. To continue ￿ reflect on th8 D881 way to live and 8h8r8 th8 8enodidw)t lrfe and Klenlify an appropriate lOCBtK)n for tho Monas1￿ Community 10 reslde., To contsnua oulr6ath and progress on the HLF funded monast￿ Llbrary rÈstorsiion propct,. To promote the works and history of tho MonB$liC Community of St Gregory the Great.. Tose•k 10 Sh$￿ r9s0v￿98 and ottgT8UPPOrt to the wl¢er wmrnunty", To fa¢ilh¥ie the quo¥t for informatK)n with best PQ8sible resourc8g." To encourage a cAJiwre of ongolng phlknlhroplc support.. To maintain our h￿tOr￿ buihlings in a planned and effeciivg way.. and To deveknp a su5talnablo fundlng model for the Tru51. the monast￿ Cornmunily and Our heritsge assets. Qur Ethos, styat•gy •nd p￿1¢￿8 The Trust99$ are re$pongiblo for setting the straleoy and for achieving IbÈ oble¢tlve$ thoy hAV4 8•t. Tho fo¢u8 of tho straleoy ￿ on developlng Ih? work ofthe Monagtlc Community And pr•$&rviny the h8ritÈ9e awls. In imp18m8nling our strat8gy w*.. Invest In Ihe infrastruclureofthe Trust and Its PToperUes. indudlng the Abbey ChLWCtt,' Encour09• Intsre*$d partle$ to mÈkE u$a of r05uufces In the Mon3$iery Libf8ry", and Contlnu• 10 r&viFw and 4*velop ourheritsgo outwa¢h. working wilh nation¥1 herftsQB aoantkgs and prof•sgknnal 8dvlsors wlthln ihe 8ecwr to promoie publt access atKI engagetnentwilh our Mi6tonG bu￿ding$ and colleBlion$. DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT {CONTINUEDIIINCLUDING DIRECTORS, REPORT AND STRATEGIC REPORTI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Our Et￿ Downside Abbey Gen8ral Tr￿t IS 8 ¢h8ritabk Irusl whi¢h seek$ lo benent the publ￿ Ihrough ￿ ststed aims for the MonBsti¢ Community End thereby enhan¢8 the Spiritual wel￿b&in9 of ViSitDrs to thè Abbey Church and Monastery Library. Wo prtr an 8oual opportunhlies or9anis8tion and are committed to a wo¢Klng envlronmeni thgt is free from any form of discrimination on the grounds of wlour, race, elhnluty, rellglon, sex, sèxuel oritinlation or disability. We wlll make reasonable adlustmont$ where posglblfr to me&t Ihg needs ol $18tt who are or become dl88bled Prt*tbGtion of chilitrvrh ond Vuln¢r4blo AduM8 Wa Ere commilled lo the highasl 6tafidBrds ol s8feguardlno and seek lo promote the welfare of ehildren and vuinÈrgble adults In all our endeavours, and expect Trustees, 5t8ff and volunteers lo shar8 thls commltmenl. We acb-vely enoaue 8nd cooperatÈ witn and follow the guidance of the Roman Catholic Diocese of Cllfton. Ihe Arehdio¢e5e af Cardpff.Men8via and 1tt8 Catholic Safeguarding $18nd8rds Agancy. Following th& r8loc8tion of tha Monastic CDmmunity to B•lmonl Abbey in July 2025, our safagu8rding arrangemvni$ are ovgwen by Ihe Rel19￿￿S Safeguardlng So￿¢e. Strateg1¢ rewt The desMptKin under the h88dlng5 'Ach*v8menls and Perforn)ance" gnd 'Financhl Rèv￿￿. mÉot the company law rEqulrtrmenlS for the Tlus￿e$ to present 8 strateglc rtport. A¢hlov•mants and P•rformanc• Govomanvj The Rigbl Reverend Nlcholas Wets, of Belmont Abbey, has been Abbot sin¢e 26 Augu$1 2020. Th8 RÈvownd Marc Brumwell ¢onts"nug6 as Prior lo a&%kst the AbboL pasioraiw Tho Monas￿¢ Gommunfty contlnues to $grve Sl Benedicfs p8rfsh. Stratton on tha Foss& IDIx8$8 of Clthnl. where Dom M8rUn Gowm8n Is Iho Pr10S1 In Charoè. He a180 acts as chaplain for Ihe local Catholic prknary School. Sin¢0 Advent 2024 Dom Jamès Hood has lakeTr OTr the role of parlsh prigsl of the church of St Francis Xavrer. He￿10rd. a9slsled by Dom John George. The Monastic Archive$ Library ere available for fesearch. vlslls 8nd events. where the Abbèy's collections are exhibited to ￿￿er 8udlence. Our team ol 8ixi8an volunieers continu8 the implémentation of the Nalional Lottery Heriisge Fund INLHFI '802con of Leaming. project, managed by DAGT $l¥ff. Th8 Trust pmt•¢i$ ils ¢ollè¢bon$ acwr<5irFy to industry standards and works with other organlsallon6 ￿ make 118 work mor6 w￿81Y knowfl. We were pleased lo continuo lo be a part of the Naiional TrusVNLHF heritage open days programme. We continue lo develop our partnerships with the universllles of 8aih Spa, Brigtol. Durham ana Exeior, whose s￿deftts and le¢turers are ablg lo u58 OUT collections for the￿ own work. often published IhTOUgh the mon2sllc communlly's Inthousé journal. The Downside Revlew. Yh• Abb•y Office con￿nUeS to devolop h¢lp with ro•••r¢h. pvbli¢•don8, Lfjc¢uies anll 8dmlrilsirauon. In keepln9 Wllh our r8 chanlabl• objects arg gblg to pvblS¥h relovani books and work8 of the ComTnunily and 01Th6fÈ. The Downsid& Revièw, our quarterfy theological purnal. Qonllnues to be published and sold lo apprexlmately 20,000 Snslilulons and indlvidual$ thro￿hOUl Ihg worfd wilh thg a851Btanc¢ of SAGE Pyblt4tsons. Memtyers of th• Monastic Communty havts continued their pastoral work both on-llne and In person, conducting b8PtLsms, wedding5 8Thd lunerals and supplylng In convents ono parfsh in Ihv Dbcese of Plymouth and moro recenuy Ihe Archdiocese of Cardttf-Menevi8 when needed. We conlSnuo to hosi a monthly on-llne healing sery￿, and also lead a monlhly Mass lor h&3iino wllh the ODQOrtunity for confesAion in tha Church A* Buekf•gl. whkh h•¥ now mov*d lo th•) Abboy Church at eelmonl. Monkts h4ve led rel￿ats for groups sucTh as tn8 Young Catholic Adult Network and members of Man4uehug Ap05101* MoVe￿ent. wno mBldont boih h the Uniied Kingdom 4nd #broad. W•rk Inth• C<•mrNunliy The Trust 501d. ai a dlscounie¢ rate. 18nd s¢jacgnt lo Ihe village h811 in Strallon-on-the-F¢$$e. which for same limg hBs been used as a playgfound lor the vlllage. We continue lo suprort the v1119a8 by allowing ono OF our fi•ld¥ lo b• utsod by lh• village Ibs11 tÈaTll. DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT (CONTiNUEDI{INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI FOR THE YEAR ENDED 30 SEPTEMBER 2025 The Abbot w¥3 a Govemor of Downs￿• S¢nOOI. partlcuiar responsibility for overseting the 8enedlciina and Caihollc ethes in conjunction wlth a Govemor appointed by the Bishop of Clifton, unUI his r&$i9nation from tht P081tion on 16 Aprll 2025. The chureh has beèn used foT concerts by a IOCBI choir and the adjacent Downside School, and the organ 15 regulorfy use¢J for oryan pra¢Uc8 by & local young organist. who he& a large r￿loWIng on sorlal mtdkg. Th6 nelghboudng Downside School Con￿n￿&S to use Ihe Abbey Church for their weekw M855 gllLI hymn pracllce and the l¢cal pari3h Blso useg the church for Sunday M355 8nd a few tlmes in the week. ay well 8$ for Dccaslonal weddinos ond funerals where a larger congregation Is 9xpected. W8 again supported Downsille School financially by 15sulng grants lo cover Iha reni. which18 due to Ihe Tw¥t for their USE ofthe buikjings in a¢tordan¢è a LOÈSe Agreement. Our oulreach on SO￿￿1 media has continued to grow, espo￿allY on In51agrain, and until OUT Oeparture from Buckfa5t Abb9y, wg contlnued to upload Ihe Soundtrack of our d8ily Ma58 10 Soundcleuo, wtt8re many people Ilsien 10 the Mas5. There have 8190 been r89u18r meellngs of our oblatss at Downside. Fed by th8 Obl8te Ma51eT, DoTn James Hood. One of tho monks undortakan a great deal of c8tpenty wort, repairing ond Theking Ghurch furniture and often undertakes work thfjl large wmpeDies would oe¢line. In the pa51 y&ar. hg coniinugd to undertAke work for Bucklasl Abbey and has 81ready repaired oales and mado a readerfs desk for Iho mo#k#' refectory 31 Belmont AbbBy. Membets of ID8 Gomrnunity É$$lYt with Ihe administralK)n of the sacramenlg In Ioc81 p8rfsh8s. schools and 8 convant In th6 Arehdb¢e¥o of Cardiff-menovia. Monks have also leo retreats for uroups both ¥t Buckf851 Abbey and at 8elmont Abbey, as w811 as h Olher lo¢ations In England. One monk taugbl gn intyns￿e course in Biblical Hebrew al Ealino Abbey'$ Liturgl¢81 Inslllute. PU￿r* Plans The frusle9s arg committed to rn3int81ning the infraslruclure and bulldings usad by the Trusi on th8 Oown&Kla Bite and oniinuè its open Ihe library lo scholars both on-llne and ID person, and to explore 8 rnnga tsf p0s￿ble uA6S of thg mon8SVG buildlngs and grounds With th• help of our profos¥K)nal advr6or$. The monasllc cornrrTrunily intends to conunvg Its ovtr88ch with drfferenl groups, belno 8vallabl? as ￿treat glvers and yp&2ker¥. both on-line and in pefson. We a130 Intend lo contlnue and oxtend our oblat8 programm¥ With Catholics who wish to deeppn Ihelr faith by tneans ol ¢onnectson¥ with th8 fflonasuts comrnunily. Rg9ular ¢Jyy5 of recollection have taken placts at Downside will continue to do so, a$ we 5eeK 10 Increase awareness of the oblate lif8 and to angage mor8 p￿p1¢ in tt)i8 aspe￿ of Beneditline Ilfe In partl¢ular. Sinctr bgino gt BoITnont Abboy, lh$ rnonks have bggn involved in thg dev81opmant and jmpl8ment8tlon Of a new retreat programme. Fun(*a16bng Fundraislng has tra¢ltlonally not been wnsilsered a mojor Incomln9 r8source stream, but we aim to raise inGotDe by (Jonaiions for the Abbey Church when used for 8vÈnt$ and in leoacie5. Our newsletter rfy8chBs hundrgds of pgopl8 and Serves to rakqe awareness of the work of the Trusi and foster Support. Flrbanclal re¥￿￿ The hnanciai $Wernants show incorning rpsourG8s for thè year for the Tru¥t of £1,255,03212024.' InGorning £1,4Z3.3831. Income frorn donallons and 18aael•s for thg v•ar amount•d tc* pqao.007 {?D24- E903.69U}. Total rèsourcès oxpended werg £2,939,35812024.. £1,711,664). Net oaln on Inv&slmgn15 W38 £577,610 12024: £701.4731. Ovgrall. th8 n8t mov8mant Of fund¥ for tho yg8r wa$ 8 dÉtficit of £1.106,71812024." 3urplus £413,19ZI. Tht Tru3Ys balance #heet as Oetall8d on pagg 12 snows a sgb&fBc￿ry poÈitK>n with lunds tolaling £19.755.$53 12024.. £20,862,269). The financial statements comply with C￿￿ent statutory reoulrgmentg. DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT {CONTINUEDIIINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Note$ 24 10 27 to Ihe financial sial&m&nls thow the 8ss8ts 8fid Ilabilities 8ltribul8ble to the various funds by type 8nd also show Ihe various Trusts of Ihe Charity and summarlsa the y88¢s movamenl on each fund. ThB Teserve8 of the Charity ara ihost funds that are fre81y avaSlable lo be spent in pursuing the Charity's objects. The free res8rYe8 of InE Cnarily 81 tne fin8n¢i81 year end were.. 2025 2024 Tolal Reserves as al 30 Septern￿r". Less Rugtrictod Funds D•siynateJ Fund$ Unrestricted Funds whlch coukl only be re8llsed by diwsin9 oflhe frxed a*8ets he￿ for tharitable us fj9,765.553 20,862.269 IT97.J071 112,ts571 10.314,2591 1856.8911 112,8671 Free R8S8rv￿ Surplus 9,631.060 10,274.390 Tttg Trustees regularly revie¥v the fillaDces, budgBlS 8P8Trd against budgfri 10gèlher with th6 cash now analy81s 8$ part ol the etfeclwe stewardship of the Trust. Work 15 ongoing to develop bu5ine55 plans and aclions that properly rellocl the shape ofthe TFUSI slnce leg81 and financial separation frorn DOWn￿de School. Tht Tru8te6s recognSse thai the l•vol of r襕*ves flv¢luatg$ ¢Jurfng of inveGtment and thai arraagements are In with our bank lo provide f¥cilitie$. The Trustees, f1nan¢lal plans for Ine future are 10 rgmain Sn surpSus and to hold an approprtaie level ol r8s8rvo$. whilst ¢on$cious that it wlll lake lime to build up such rsserves. The free reserves have decreased to t9.631.080 or approximately 99 months. he8drcom at current levels. The Trustees ¢onsi¢er that given the slrenoth of the Charlly'5 balance shept, the stable c¥$h flow and the Bvailable banking facility this 18 gWePtablg at pfesont. Inv•stmenf Power• The Trus¢ge% are pem)ltted by the terms of the TfUSI Deed to makg In¥4$1m#nts th any manner ol￿w￿ by L4W. Invo3tsnent Policy Tru$wes' oblectlva Is to maxlmise the tolol in￿tment return withln a wntrollwj risk trarnewort fjubjeGt to certain iTr¥estment and ethlcal re8tricllDns. We curr8nUy hold no investments. D•v•lopm•rttg and Mathl44MmC• W& continua tc invest In Ihe e&tsie, complettng WQTk on a number ofv1118ge tyn181 properti8s. DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT ICONTINUEDIVNCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 StNcture. Gov•mAnc& and M•nagqm•nt conS￿t￿tIon DDwns￿e AbbÈy G&neral Trust. lh8 Chanty. is 8190 known as DownFAde General Trust and ￿ferra￿ to throughout the rinancial stotement5 as the TfU81. The Trust 1$ 3 company limiiÈd by gu8ranlèa eonslituted by ils Memorandum & Arli¢les on 10 July 2014. It was regi$1gred BE a charity on 09 SÈptembor 2014. Thls company supersedes Ihg fotTner Down¥idq Abbey Gener81 Trust (Charlty number 2325481 wh￿￿ was form￿ by Trust Deod in 1934 ¥nd r8glSteffjd 09 8 Charfly on 10 F¢bnJary 1965. All a88&ts and Inte￿Sts were transferred lo the new ¢omp&ny. The Tru5tee5. %vho are also the DireciorsforthÈ purpose ofcompany law. and who Èarved during the yaar were.. RBV NichoLas PhUi)VVetr (Abbot) Icontroller oflhe Trusti Rev Martln Joseph Hood Rev M8rc Devks BrJmY4ell Mr Rkh8rd Peter Bevan Downside Abbey Ge￿eral Trust IGG no. 11585071 lo Eharitable eompanyl was appolnlad tho sole corporat6 trust88 of Downsk1e Abbey General Tru51 (previously c¢. no. 232548. now 1158507-1 I la Irusll by Charlly Commlssion Scbgmfy dated 04 September 2015. The Controller of the Tru51, b&lng the Abbot of DownS￿e, has absolute dlscr8ilon 0¥gr lh8 8ppointrn8nl and rornoval of the TrUS￿e5 of The gown5id9 Abty9y G•n$r¥l Trust. The numbtrr of Trust•88 shall be no fewer than four and no more than Iwenly. Half of the Trustees arg appoinle(f by the Abbot 2nd half are elected by the Annual Gon9ral M6fytlng of Members Df the Mon8sUc Communlly. In making the appointment5 bDth the Abbot and the Community consltter th8 qualific8tK)n5 3nd experience of each indiwdual and their suitability to aet as &Truslee. Nèw Trusltrtrs and oth&r pot8nti81 appoints68 are briefed by experienced Trustees aboutthelr role rèsponsibililles and courses are mad8 awailablo to them TwstOo$ are21rth0￿ssd lo commft up to £250,000 on ttny onè it8rn of pr(iect8d expend11u￿. Project¥x￿ndlt￿r8 in exc888 of £250,000 reoulres the 8ppfDval of the Ch•ptfyr of gdgmnly professed members of the Monastic Community. The Tw$we• of Ibe DownBlde Abbey Generu5 Trust are committed to h￿ah standards of ￿￿parat6 govemAnce. Tha Trustees exatnine th8 principal areas of thè Trusts operations and consid&r the malar risks faced in each of these areas 8t the beginning of each financial year as part of the planning pracèsg and on an onooing b8sIE throughout the year. In Ihe oplnlon of the Trustees th9 Charity h8s established rOsou￿96 and revitsw systems which. under nOTrnal conditions. shoulo allow these risks lo be mibgaled to an ac¢eptablg ￿Vts1 in its day to day op•ratlons. The principal risk 10 Ihe Trust18 the nn8nd81 sustainablllty of the slte at DOwnS￿e. particularly followlng the relO¢gtion Of the monastic communily. Non-ffnanGlal rf5ks of material ton¢em Include Charlty Comm19slon compliance and fire and health and safoty ri¥ks. Thèse nsks aro rnanaood by hawng robust pollclg$ and proCedU￿S In p*Ge, $upported by relevant tralnino and prE>fvssional advice. DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT ICONTINUEDI{INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI FOR THE YEAR ENDED 30 SEPTEMBER 2025 rhe ChaAty has some exposure to credit rfsk which il manaaes throuah robust etsoit poli¢ie$. r￿Ul￿r r4vièw and enfor¢eTnenl ¥galnst fee debiors. Tha Trust h85 sufficigni resour¢¥s lo meet its needs, but the￿ 1$ A certain sèasonal Iiquidily risk at certain litnes of the ye8r whan oxpendiiure and Income are not wholly allgne¢. rhi5 Is monilored through ¢3sh flow foreca511ng tnodels, and we enjoy a positive re1811onshlp wlth our bankers lo ensure that Iiiese risks do nol pDse 8 material Ihr881 10 th8 Trust. Th8 Chadlv h8s undertakon proactive measures io enhance the Trust's liquidity and nanBig1 rtrsilience. These initiatives includ8 the Sale of Home Farm whlch completed aftgr the ygar end. Further dive$lm*nl of non-Incom& produclng assets. or those gongraling only mar9in81 relurn¥- oueh as the freehold of thg majorlty of tha Downaide &itg- 1$ 8ntiCipotod Over the cornlng year. All Truste88 thelr Ime tr8ely. 8nd extem81 Trustees who are not resident were not paid anylrovel expens98 durin9 the year. Conne¢t•(l Entilis$ The following ¢harili88 8Te conn8¢ied to Downslde Abb•y G¢noral Trust:_ DownspJe Abbey Ml$$ions Trust, DDwn$ide Abbey, Stratton on th& Fosso. Radstoth, BA3 4RH ICh8rity Number 2325501. The Above Charlty is controlled by The DDWTrSide Abbey Genorai Trust. strdtton on Ihtr Fosse, Rad$lo¢k, BA3 4RH, (Chathy Number 11585071, b8ill9 an incorporaltd body of Tru8t888. Th8 assets of Downslde Abbey Mlssions Trust are held separately Irom those of Downside Abbey General Tru5l. The Trust@es, who are also the diroctors of DowTrsid8 Abbay General Tru31 for the purp03e of company law. ar£ re8ponslblQ lor p￿parINg the Trustees, Report and tho financial staiemonis In 8ccordanc• with applK8ble law and United Kin9dom Ac¢ounknng SLgnaar¢s lun￿¢0 Kingdom Generally AcceplÈd ACcoUn￿n9 Pracucel. Ccrnpany Law requlres the Trustees lo preparo finan¢i81 ststernents for each financ￿1 year which Dive a true and faiTvlew of th8 slalo of gffairs of the ChÉrity and of the incomino rerAJurces and applICa￿On of ￿$oUr¢S$. Includin9 tne Ineoma and exptrnditure. of the ch¥ritable ¢otnp¥ny for that year. In preparing these financlal &tsiemeni&. th8 Trusiees are reouired trj.. - 8ele¢l suitable a¢¢ountlng pDlldes and thgn applythem cons￿tant￿.. - ob8er¥e thB meÈhod¥ and prfn¢l￿•s in lh8 Ch8rftyes SORP.. make judgements 8nd estimates Ihal are regsonable and prudent.. *t$tè wh8thèr 8pplicablo UK Accountlng Standards hav• been followed. Subject to any rn8terfai depariures discjosèa and &xp18inad In Ihe finandal statement8". and prepare the fin8nGIBI statements on golng Goncern basis unless it 1$ Inappropriat6 10 prèsutne that the Charity wlll continue in op&ration. Thg TrLJsle8s grg rogDongiblo fnr ko•Dino 2doquAta Acoo￿titIng rèeord* th4t wilFi rraaonable aGGurgGy 91 tsrty tlrn¥ tho financial position of the Charity and enable thern to ensure that the flnancial slalgmgnls Gotnply with the Companlg8 Act 2006 They are also r8spon$ibla ftsrsafeguarding the asBels oflha Charftyand hence lor taking reasonable steps for the prgvontson and dotoGtion of Irgud oth$r irr¢gvl8rltl?8. Tha Trusteès arg responsible for th* maintenance and Integrity ol the Charity and financial Information included on tho Charity's website. Lauislation in the Unitèd Kingdorn 9ov*rnlng the pr¢paraiion and dlsseminaiion ol flnanclal ststemenis may dlffer from leglslalion In other1vrf$dl￿[0ns. DOWNSIDE ABBEY GENERAL TRUST TRUSTEES. REPORT ICONTINUED}IINCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 D15clo$uTr ol Inlamiation to al￿￿Or Each of the Trustee5 h8s confirtned that Ihertr is no infom)ation ¢f whlch thay ara aw8ro which Is relovanl to the audit. bul of which the auditor Is unaware They have further Confirmed that ihey hove taken appropriate $leps lo identify such relevani Informatlon and 10 establish that ihg auditor is aware Of guch informatlon. The Trustees. report, Includlng the $tr8tggiG rtrport, wa¥ approved by the Board ofTruste6¥. Ro¥ Mlcholas Phlllp W•tz IAbbot) Icontroblor of tho TNstl 25/0112026 DOWNSIDE ABBEY GENERAL TRUST INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DOWNSIDE ABBEY GENERAL TRUST 0Onlon W& have 8udiiea the fin8Dcia1 8t8ttrments of Downstde Abbey General Twst for Ihe year ended 30 Saptembor 2025 wh comprise the Slaièment of Financial Aclivilies. Ihe 881$n¢e Sh8ai, the Statement of Cash Flows and the nota8 lo Ihe fin8nGk41 gt&lemenls. Indudlng slgnificant acceuntlng polici¢$. The finantyai r&porting framgwork that has been applled In Ihe* preparation 19 AppllcaN¥ law and Unlled Kln9dorn Accounting standards. including Financisi ReportlDg Standard 102 The Financi$l Rgporting St&nd&rd 8pplic&ble In Ihe LIK Repubhc of Ireland (United Kingdom Generally Accepted Accounting Pr8¢11cel. lft our oplnltsn. the finandal Étatwnont$'. give a true and falr vlew of the *tatts of tn& ch8rit8ble company's affairs 8s at 30 Seplernb&r 2Q25. and of Ils incomlng r8sourc6s and 8PPlicaiion of resourcos, Includln9 Ils Income ond expenditu￿, for the year thfyn ènded.. have b8en prop8rfy prepared in accordanco with United Kinodom Generèlly Acceptsd Accounllng PracUce', and h8ve been prepar8d in accordance with thp requlreffl•nts of tha Compan188 Act 2006. 84918for oplnion We conduJed our audit In accordanca wfth Int•mational Sland¥rds on Audlting IUKI IISAS IUKII an¢Y appllcable law. Our respon$ibi1itles under those standards are furthfyr described In the Auditorfs responsibilities for the audil of the finanGi81 st8Eements Saciion of our report. Wè are ind•pendenl of the ¢harEtsble company In accordance with the elhlc81 requirem•ntB that arfj rtrlgvanl to our audit of the finanoai staiements In the UK. Including the FRC'S Ethical Stsndard, and we have fulfillett our Olher ethical responsibilities in accordsnee W￿th these requiromgnts. We belFeve that the audit evld9nce w• have obiainod is gufficianl and Appropriato lo provlde a basls for ouropinlon. ￿WIng to golno ￿nCern In auditing the financial stalètnents. we have concludod Ih8t tho Trustfjff3' uso of th* goln9 wn¢em ba¥is of accountlna In ihe preporaboth of tho fin¥no81 stalgmontS 15 appmpriate. Based on the workwehave pgrfortned, we havè not id8ntifiad any malarial uncertalntles rela￿ng to 8vent8 or condition¥ that. indlvidually or collectively. may ¢asl signiflc$nl ttoubl on the chantable company's abI￿ltY lo continue aB a going concprn for Pa￿¢Y of at least twelve rnonths from when Ihg financial slatpmenls are authorisad for i88Ue. Our r8sponslb1li￿eS and the responslbili￿es of the Trvsto08 wlth rospoct to going ¢on¢ern are de¥¢rth￿ In Ihe relevant sections of thi$ roport. Other Information The other itylttm)&lion comprfsos thg Inforrnatitsn Included in the Tru8*e98' annual r8PVrt. other than thg nn8ncl81 stsiemenis ana our audltort$ raport thergc>n. The Trustee5 ffj8pcn61ble for the Qiher Information Our oplnion on Iha ffnan¢lai ?tatsrnents does nol Gover ihe otner Informatlon and, except to the extènt othepwist explicitly slated in our report. we do not express any form of assur8nce conclusion Iherfyon. Our responsibility is lo read the other Information and, In doing so. consider whalher the other Information is materially Inconsistont with the finonciÈl slalemenls. or our knowled99 obtalned In the course of the audit, or otherwise appear& to be malerially tnisststgd. Ir we identify suEh material in¢onsi81fynci08 Dr aPP8rèni mater￿1 mSs$talem8nl8, we are required io dalemilne wh&thor thls glves rise lo a material misstatement in the flnanclal staiemtnls themselv*s. If, based on the WOTk we hava perfornied, we conclude th81 th*w Is a maiedal misstalOm8nt of thi$ Olh&r Informat￿n. we are required to ￿POr1 thgt f3ct. We hava nothing to report in thls ward. DOWNSIDE ABBEY GENERAL TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DOl••lNSIDE ABBEY GENERAL TRUST Oplni•n8 OA olher matters prescdbed by the Compan185 Act 2M6 In our opinv)n, based on the work und$rt8ken in the coutse ol our audtt.. the information given in Ihe Tru8ta88' report. which includes the Tru8tees' report prepared for the purposes of company law, for ihe finan¢io1 yoar forvlhich the financial s18tements are proparod is con81Stenl with the finen¢k91 Etaternents., and the $tr81egic r8POrt and the directors. report Included within the Truatees. ￿port have been wèpar8d accordance wrth 8ppllGable kg&l reouirements. Mattets on whlch wg ¥r• rfjquired to rqport by ex¢eptlon In the right of the knowlèdgé and understsnding of the ch8rit8ble company and its envlronment obtained in th$ course ol the audit. we have not Identifipd tnaterlal mlsstatements sn th• Trv$ièos' report. We hav6 nothing to report in resp8ct of tho followlng matter5 in rel8lion to which tho Companles Acl 2008 us to rtport to you if. in our opinh)n'. doquBto o¢counlSng rtt¢rd8 hav6 not beyn kepl. or reluffls adequate farauroudlt have Dèon r&caved from branches not Vlsrted by u5.. or Ihe financial slalemonls 8re not in agreement wth the ac¢ounfjng records and relums., or certain disdosures ofTrusttos' rernunerat￿n spe¢lfled by law are nol made., or 8 h¥v8 not received all the Snfomialion 8nd explanatK>n$ we require for our audit", or the Trustees w?re not entiied to prepar& the financk91 stsi&mgn15 in accordance with tho small comp8nie$' regirne and ta*& sdvanla9& ofthe ¥rT1011 Gompanles, exemption in preparing the dlmctofs report. Re$ponslbllltl•sofTrLMt As axplalned more fully in the Trustees. rosponsibi1it195 Statemènt 80t out on page 6. tho Tru8lees (who a* 8180 the directors of the charitable company for thtr purpose of company lawl aro ro¥pon8ible for the preparation of Ihe linanGial 51Htemen18 and for being satisfiad Ihal Ehey glvB a Irue fylr view. and for such Internal ttrntroi as th8 T ruÉteeÈ detennine is neGessary to enatsle the preparation of financial stataments that are free from material mi33talemenl. whether due 10 traud or ert￿r. In prgparing the financial Statements. the twslees are fftsponsible for a$sessiTrg the chariltblè Company's 2bility to ntinue as a going concern, dlsck>slno, as applicabl8. matters related to Ooing concem and using the golng con¢em ba813 of 8c¢ounfjng unla$s the Trustees either intend lo INuSdale the GharIlab￿ eomp8ny or to cease operations. or have no realisllc aiiernaiive tyut lo do so. DOWNSIDE ABBEY GENERAL TRUST INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE MEMBERS OF DOIIJNSIDE ABBEY GENERAL TRUST Audltor's responstblltties forthe audit Dtthe flnan¢lal ststements Our objectives are lo obtain reasonable 8ssJrance about whether the financial 51atemenls 88 a whole arg Irom material misslaletnent, whgthor du• to fraud or error. and 10 iÉsue an 8udilols rtrport that in¢ludes our opinion. Reasonable assuranGe is a high level of 8$$urance but is not a gu8r8nle8 that an audil conducted in a￿OrdanCe with ISAS IUKI wlll always delecl a materi81 m189t¥iement when il exl8t$. Mi8st*letnents can arise froTn fraud or error and are consid&red mai8ri¥l if, individually or iri the aggragate, they could reasonably be expacted to influenGe the ewnomic dgcisions of us$rs lak9n on the basis of thesè financial stalemenis. Irr8gulHritifys. includlng fraud. are In8lanc6s of non-cornpllance with laws and r8gulatiOll5. We desSon procedures In linè with our ￿spOnSIbl1111e$. outlined above. lo detect material rnisstat&mont$ in respect of irrggularitiès. including fraud. The e¥tent to which our proceduros aro capable of dolèetsng irrègularities. including fraud. is dètailèd bolow. Obtained an Jnderstanding of the nalvr? Df the industry and sector, includlng iha lagal and regulatory framework that th ChaHty operates In and how the ChBrily 1$ complying Wlth Ihe IEg?l and regulatory fratnework., InquireEI of m3nggem*nt. and those charged wlth govern8n¢&. about their own Sdenlification and astsessffienl ofthe r&k$ or irregularities. including known and aclu81. $usp8¢ted or alleged In$tanc&s of fraud.. Ideniined 2nd tested journal ÈntriES, in particular any loumÉl enln8S Posted with unusual account comblnalions.. and DisciJs5ad matters about non-compliance with laws and r8gulatDns and how frau¢ m&hl occur including assessment of how and where the financial ststemen15 may be sus¢epiible lo fiaud. B9cause of the inherent limitations of 8n audit. there is a riyk that W8 will not detect all irregularities. Sncluding Ihoso le8dlng lo a mat¥rl8I misslalement in the financI31 statements L)r non-compllancfy with regulatK>n. This risk Increase$ the mora ihat complianefj with a law tsr re9ulation 18 removed frotn the events and transaGUon5 relleGie(J In the financlal S￿t￿MentS. as we will be le88 lik¢ly to beGgrne aware of Insiances Of non-cotnpli8nce. The r15k is also greatar rggarding Irrogulariiies occurring due to frau¢ raihtr than orror. as fraud Involve¥ intentsonal con¢ealrllenl. for98ry. collusion. omission or misrepresentation. A further description of our ￿sPOnSIbl11t10s is available on tho FRG's website ai.. e-au This descripuon forrns part ofour auditor's report. Use of our t8port This report is made $olely lo the charilablg companys members, as a body, in accordanee with 3 of Part 16 of the Cornpanies Aet 2006. Ouraudit work has been undertakpn so that we mlght stalg to Ihe ¢h8rftabie Gotllpdny's memb8rs those maltsrs we are required tD $14le lo them In 8n auQilor's report and for no other purpose To th8 fullest exlgnt pormitted by law, we do not accept or assumo r9sponsibillty to $nyone othor than the charitable wmpany and the chaAtsblg company's mernbers as a body. for our 8udit work. for Ihi$ report. or for the Opin￿￿& we aave fom)e(i. TlrrT Lerwlll FCA BFP For and on beh?If of ML Audit LLP Statutory Auditor t(LL A.Ip 4 Queen Str BATH Sornors BA1 1HE Dat￿..... 2510212026 DOWNSIDE ABBEY GENERAL TRUST STATEMENT OF FINANCIAL ACTNITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Ufir•strt¢ted Dd8 g¢nerAI Urtrvstricted Rostwict•d fund¥ Total 2(125 Total 2024 dMlgnat•d Not* ne frorn.. D￿ationS and legacb$ Ch8ritÉble activitios Monasbc Income Invesimenls Othèr 182.625 190,D07 293.539 472.643 427,631 163.851 472.643 427.631 163.851 452.270 429.549 248.025 Total income and endowmènts 1248.750 1255.032 1423 383 Rai&ng lund$ 3.724 5.768 Monaslc 2,867,828 67,806 2,935,634 1,705.896 Total ¢haritsbl expethdlture 2 667 828 67.8 1 705 896 Total re8our¢e$ •wndvd 67.608 2 939 358 1 711664 Not 98ins on Inve8lmem6 14 577.610 517,610 701,473 Mat m0ven￿nt In fund8 11.047,1921 159.5241 11.106,7161 413.192 Fund balances at 1 Octooer 2024 19,992,511 12.867 858,891 20,562,269 20,449,077 Fund bal•n¢8s at 3D Sapt•mber 2Q25 18.945.319 12,867 797,367 19,755,553 20,862,269 The 8tatsmont of fin8n¢l81 aGtivities includes 011 gains and los*$ rawgnls8d In the year. All income and expenditure derive frorn contlnuino aciivitiBS. Th8 51aletnerTrl or rinancial aGtivilles also comDlies with the raouifornenls frjf 8n incotng and axllan4ituro account tho GoDip8nles Atl 200fj. DOWNSIDE ABBEY GENERAL TRUST BALANCE SHEET AS AT 30 SEPTEMBER 2025 2025 2024 Not•8 Flxed a8S8ts Tangib￿ assèts Invoslmenl prop?rt188 16 17 9.314.259 14.014.357 9.718.121 13,468.595 23,326,616 23.188.716 Curr•ntAS90ts Stock& Debtor$ Cash al bank and in hand 18 19 21,107 307.084 27D,531 51.520 498.364 276,867 548.722 826,751 Crodltors= amounts folllng dug wlthln ¢n• year 20 (393,2471 1328,075) Net current assets 155,475 498.676 Total I￿•ts f•88 ¢uYY•nt liabilitie 23,484,091 23,fj85.392 Cyodttorn.. amounti hlling after than ono y•aT 21 12,378,455) 12.398.123) Pw4vJloni forli&biliUts 22 11,3SO,0831 1425.0001 P4et Js¥ets 19.755,S53 20,862.269 Income funds Reslricled funds Ljnro trict Oe51gnaled fun¢5 24 797,367 856.891 Z5 12.867 12.867 GenerBI unrestrirknd fund$ 26 18.945.319 19,992.511 18.958,106 20.005.378 19,755,553 20.862.269 The flnAnckl statsmgnts were aprKoved by the Board ol Tru¥tsw orKI authorr6ed for Issue on .......... d on ts bqh8Wby.' . and 8re R•v Nichola# Phlllp Wotz IAbbotl (Contro Tru$tyo of the Trust) Marc D•vld BrUMV￿lI Tnjsiee Cornpwy Reg18tr8tlw No. 091245TO 12- DOWNSIDE ABBEY GENERAL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEAIBER.2025 2025 2024 Not94 Cash Ilows from operailng acllYllle* Cash absor￿￿ by opfrratlons 1568.3241 13.028,2931 In¥estlng actt¥ltles Purchase of18ngible fixed assets Purchas& Of invastmènt property Proceed5 on dis4)0S81 al Investment prop8fty Proceeds on disposal of other inv•stm8nts Investheni In¢orne Rewved 124,6991 1156,2761 285.000 119.6811 183.3481 212.ODO 86,122 429.549 427,631 Net gener•ted from Investlny a¢tfvitl•• 531.658 604.642 Flnanclng acti¥ltl• Repayments Of108ns anJ tx)rro*inos Cash inflows from ne%Y loan 119,6681 16.2091 2.424,000 F4Bt Gaoh generated from flnanclng atb¥W•8 119.6881 2.417.791 1481 In¢voa8alld•¢r•a601 in ea•h ènd equlvalgrbt$ 156.3361 15,8601 Cash and cash equfv8lenls at boginning of ￿Er 276,867 282,727 C4•h •nd ¢a¥h ¢quival•ftts at ornj of y•ar 220.531 276.867 DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Accountlng pollcles Chority infomieUon Downside Abbey General Trust ig a private company Ihmitsd by guorentee Incorwrated In England $nd W8le$. The regl$ter¢ offiLXiS DownsdeAbbey. SliatiowTr-tb&Fo￿, RADSTOCK. BA34RH. ACCOUn￿n9 con¥qntlttn The lln8nciAI ststements h8ve been tyepared In att(Kclance wllh the charl1￿$ Memorandum ana Art￿68, IhÈ Companiès Act 2006 and "Accouniing and Reportino by ChalllÈs' siai8menl of RecommÈndÈd PracbeÈ applicaNe lo chBrilies preparing I￿￿1r aC￿UnIS in accordèn¢t wth the F1Than￿al Reporting Standard appl￿ble in th8 UK 2nd Republic of Ireland IFRS 1021 leffoGtive 1 January 20191". TheCh8rlty i88 Publ￿ Banefil Eniiiy asdellnad by FRS 102. The financial statements Are prepared in slerfing, whlch funclw)n81 of th8 Charity Monetary amrxmts in th9$9 rnJn¢ial Statements are 10 the nearest £. The financ￿1 5tal8ments have boen prepared undfjr Ihe histrt81 ¢•st ¢￿vAnti￿n. Tho 4cwJntirg PL4idg5 are sel Out be￿. 12 Golng GonGern The Trusteos have revwAJ likely future developments as well as ihe current nnancSal cllmale and rem81n of thè Qplnlon Ihal there k8 no wson to bel*v& that Charity wlil Iwe to cease operating as 8 result of In8dequat8 Rnandal resourtEs. or any other foreseeable event. wthin a perh)d of al ￿ast 12 mo)ths from Ihtrd)t¢ of thp Hpprovgl of these 13 ChÈrltablè fund UnresiTiCted funds aro svailsNg far at the ¢i%cret￿n of th8 Trus*808 in lurthtrr8nco of Iheir charita￿e objecll¥es unles5 the fvnds havè been designated for olher purposes. D¥s￿nated funos compri* funds navtr L￿an sei a$￿t 81 the dIsCrth(￿ of the Trustees for 5￿cifiC purposes. The purposes and u88&oflhe ￿e￿gnated funds a￿ setout Inthe ￿ley10 accounts. Reslricted ftsnd$ 818 subj￿1 to ¥poGffi¢ (￿dit￿)n5 by donLY3 a8 to h(M try moy be v5e¢. The purkY)5es and uses of the stri¢l8d funds are 8è1 in the note? lo the acmunts. IA Incomlng re8ourc68 Income Is when Ihe Charity is legally enbued to d afterony pthmance condit￿$ hav8 bgon mol. Ihe Amunts be measured rdiably. and it Is Probab￿ I*￿t IncomÉ ￿11 bg [8¢￿¥80 CgBh dono*ton8 Are reccp3nl88d on r¢wpt. 0￿¥r dO￿tiOns are once Iht Charlty has boBn noiified of the donatk)n. uThlos8 porfortnaTrce condiknons require deferral of the attK)Ufji. InconE recoveratye In re18Uon 10 doTr8llons r8C@￿ve0 undef Glft or deeds of coven8nt Ls recc¥nised ai the Ilrne of Lh8 d[￿￿110n. Lega¢os arg recognised on receipt or olhar4Yise if the Ch8fity h$$ been noiified of an impending Olslrlbui￿n, tho amoulll is known, and receipt i8expeGled. If Ihe amounlis noi known, Ihe legacy15 Ireaied as a coniingeni assei Incomè frvm govemmefjl and olher grants. whether 'capltal' grants or're¥enue' grants. 1$ recogni￿ when the C￿rrtY has enlthement to the funds. any ￿rformants ts)rMlibong aitsched ￿ thB grants hsve mèt. it is PTobobl8 that Ihe incomg will be rgceived and the amDunt ran be mea8ured rel*bly and Is not defènEd. Ini8r8$1 on fund$ hold on dep051t 15 iD¢luded when receiv￿ts1e 8nd the amount can be me&sufed rell8bly by the Charity. this 1$ normally upon notification ofihe interest paid or payable by the bank. 14- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢¢ounUng wliths Icohlnuedl Fèes r¥¢8wabE6 and ¢h¥rge$ for $¢rvi¢e¥ and usa of pr8mis¢s 8rp 8¢¢0unied for In the perlod In wh￿tt Ihe S8f¥Sc8 Is prov￿8￿. Fees re¢eiv¥ble are $iatsd after deduct￿ng allowance$ 8nd other remlsslons grAnted by thè Trust. 1.5 Bxp•nd•d ExpeDditure is reeogni¥ed once Ihere Is a leg81 or conslru¢Uve obl198￿On to make a paymgnl to a Ihird PArty. il is proDaDle thai settlement wlll be required 8nO the amount of the obllgatlon can be mea¥ur8d re118bly. Th8 trro¢Dvef8b èlement of VAT is within lttfy Item of expense to whith il reldles. Whtrré an il8m of expenditure falls direGly wilhin one Go$t category Is attributed lo that caleoory onty. Wh•r• o¥pendItu￿ involves more than one category il is 8pportion£d on s rBgBonable and jusliflabl& ba8iS. Fundraising CQ¥ts are thvse in¢urred in seeking voluntary contrtbullons and Include tho co8is of dls$omin8ting Inforrnatlon In 8UPPOrt of the charitable aclivititrs. Support costs ara tho$• costs iTrGurred direclly in support of axpendllura on thè obaects of the Charity. Governance costs are those incurred in conn8Ctbn with odminislrolion of the Charity and compliance ¥Yith conslilulional and statutory ra¢uiremenl8. l.fj Tanglblo flx•d4Bg•ts Tangib* fixed assets ar8 Mi￿allY measurèd 81 cost and Eubs8quently measur8d at C05t or valuation. not of Qepreciatton and any imparment losse8. TheAbbey Church &nd are consldered herltage assets and Gre Integral lo the acllvllesofthe Cttartty. Thlsgivos rlsg lo diifi¢ulti*s In a3certeining 8n estimate of th8 ¢urreni cosi ol tonstruclon of gn asset th81 h35 the same s&rvice potenti31. A naw structurè could recreate a 8imilar sized 3p8ce but would not recr8atO the uniquenèss of t￿t orioinol buildings. No Information on original cost is avallable and it is considered that wnvenliortal valuation teehnlques would be inappropriate ond impractlCAble for buildings of such an Age used only for religious purposÈ$. With the ao¢ of these buildiftg$ 8nd as 8 deo*cl8iing asset ovef that Ume th• curr&nt carrylno valuè al cost ig deemed immEteriÈl. In Ilne wllh FRS102. tartain subsequentexpBndilurè lover£5,0001 on these buildings h8$ been capitalised on tha basis that the trxpendllurtr enh8nc88 the pre￿011$1Y asse88•d standard of perforrnance. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢¢ounllng pol1G￿8 (Continued) Th8 hlsiori¢ai alm ol holding villagè Droperties wa$ lo provide accommodation for employè8s and formgr amploysos of the Abbey and School.. a ¢hariiabla uso. Whor• a vlllag• property 1$ not required in the 3hort tertn lo be used for ¢h8ritable pufpo¥o8 it i¥ ronled at $rm'3 lfjn9th 10 8 thlrd party on an 8s¥ured 5horthold tenancy. Village propeths klenwflpd 8$ surplus to thahtable requirements ere reclass1fied as inve5tmeni properties. Your Move and And￿W5. both Estate and Lettlng Agents managing tho Downsld8 Abbey GgnÈr¥l Twst Inveslmont Property portfolio. in October 2025 perforni•d A desktop reviaw of the valuations of the Investment PropertiÈ$. on Jn open market non- vacani p￿Se$s1on value basls. The Twstees belleve that these valualons ar8 ¢￿[rect at 30 September 2025. Tha MDnastery Lbr8ry and Gertain buiklings leased lo Downside School have been capita115e¢ at 8n esllmaled cost b8se(l ind9xlng back reinslatsment insuranc? values lo the year of acquisition. Othèr building5 with cost in exce55 of £5,000 have been capilali5ed al rx)sl. C8rtain rellgbus 8rt8facts have bean valued lor insurance purpo¥s. Thelr eosl Is esurnated by Indexlng back r8ln51alernenl In5ur8nee valtsos 8131 July 2011 to the &pprexim8le year of aGquisilion. Where no rellabl& 5nforMa￿On 18 8V811able on th8 Ilbrary books, and certain rèiigbts$ artÈfÈctB' orwjinal co81 or valuation Ihg59 a55015 have not bggn eapiialised. It 18 con$ider8d thai tsionificanl costs are involved in oblalning a valuation and thes8 would be onerous cornpared wilh the addilioDal benefll derSved by u6gr6 of the accoun18 in a8s898ing the Trustsos. 51gwardsttlp of the BSg018. The boDks are held in the libr8ry under COnd￿0￿S to ensure the books a￿ proseNed. All other t8nuibl8 fix8d 8$8et$ C0511ng more than £S,DOO arè c8Pit8li59¢. D8pre¢labon l¥ recognl$ed so as 10 wrflo off Ihè ¢O¥t OT valuat￿￿ of a5Sgts lesB their resldualvalues ovar thelr ￿Se¥￿I livfj$ on the following bases.. Land and building8 Flxlur88, fittings & equlpm8ni Motor vehid88 40- 190 Years Stralght Line 5-33.3% siraighl Line 20%Str8ight LK In¢lude¢ wfth Ireehold land and buildlnos are house propetbes a￿11￿￿￿ which arg not baing dopr8cLgted. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS IcoimNUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 A¢countlnll pollc Ther8 Is a rolllng pro9ramme of malnlen8nce and rep8lr l¢haroes for whkh ar8 made to thÈ prtrfil and 10$$ accouni$l such Ihat the village proper￿68 are ret8ln&d at Ihelr previously asg088ed stèndard of performance. Consequenly the useful o¢onomi¢ life ol Ihgse buildings 1$ extfjnded. an(1 Ihe 981itnaled residual value al the end ol their u58ful economic live5 Is not materially dlfferent from the origlnBI ¢osl&. Therefore, no depreciaknon charge IB mado on the 9round$ It would be Immate￿31 Paintings and religious 8rtefacls are maintalntrd in such a state of repair that their estlmated re51dual value Is not less than thoir amouDt and thus the annual charge for ¢Jepreclallon Is £nll. Annual Imp8im)8nl rtvi&w$ of ff8&hold buildln9s and rÈligiaus artefacts with gn expected life of more than 50 years and of house prop8rt￿S hav8 been Garr￿d out in 8ccordanta with tho reouirèmonls dalallod In nolo t.8 btrbw. So far these hav8 confiFTn9d that the Se￿ie8 potential ofthesa assets remains undimln19hed. The galn or loss art51ng on th8 d15posal of en asset Is Oolèmilned AÈ tho diHertrn¢¢ be￿een the sale proTreds and the earryln9 value of the a$$8t and is re(x)gnised in nel incotnellexpenLlbiuf9lfor thg year. On the last d8y of the 8ccounting perlod In 2015. certain 488ets wer&transf8ttad from th& unintorporated Charityto the incorporated Charity. These 8$$etS wFre transferred ai thalr Net V¥ivo at tha dat¥ of tran$fgr. Deprgciation has been ¢al¢ulo1od in Iln* wlth the Chadty's d8pre¢iaiion poll¢y. based on the original cost lo the urTrincorporaleQ Charlty and takin9 into account the remalning useful life of these a55els. 1.7 Investment IX0P8rt￿s Inve$tment property, whlch is property h8ld 10 oem rents15 andlor fDr capital 8ppr8a8Uon, l& Inthally ¥ecognisèd at C08t, which in¢ludes Ihe purchase cost and any dlroctly attributable expenditure. Subsequently 11 Is m8a5ur8d al falr value ¥t thg rgporting and dattr. Th8 surplus or deficit on revaluation Isrecogn150d In profit or loss ImpNlrrn•llt of fixEd a3?•ts Al each roporting ènd date. the Charity r@view5 the c£FrySn9 amounts of ts tangSble Assets to det8rmiTre whether the any indication that those agsels have suffered an impBirmenl loss. If any such ind1ca￿on ex15ts. the recoverab amount of the a&5¢1 & estlmated In order lo aetsmSne tho extent of the imp8irmeni loss 151 anyl. Recoverab￿ amount 1$ tho m￿hor of falr ¥alue 1888 COSt$ to $&ll aDd value in use. In as58s5ing value In use. the eslimgled futur6 cash flow¥ are dlsGounted lo thelr present V31ue usinu a pre-tax dlscounl rale that reflects current markèt asse5sm6nts of iThe time Value of money tho risks £pe￿fiC lo thè asset for which Ihe eslimates of future ¢a$h nows h3vo not Adjugled. If the recoverable amount of an asset is estimated 10 bg le55 than ils Garrylng amount. the carrylng amount of the assal i¥ reducfjd ¢0 ils recoverable arnount. An itnP4irmenl k>ss 15 ￿CognISed Immedi8iely In incomellexwndbture for the year, unlES5 in& rÈ1evant asset IB ¢JrrieLI at a revqlued amount. in which cas• th8 impalrmgnl log$ is trgated ?* revslualion (5frcrea$e. Recognised ImpalrThenl 10&se5 8rtr reve￿e0 rf. and only if. the re8sons for the Imp8lrm&nl loss have cÈasèd to 8pply. on Inipalrment 1035 5Utlsequeiitly n an¢ Gon¢ition. Items held for dislribuison al no or nomin81 con8lder8iion art mtasured the lower of replacefflent CO$1 and co$1. Net r931isgblo valuo Is tha estlm8t8d selllng pr1¢¢ lé85 all eBlirnaled costs of complelEon and costs lo be Incurr8d In markelino, selling and distribution. 1.10 Cash andca5heqUlva￿nts Cash and cash e4ul¥alents Includg easn In han(S, daposlts hold at ¢811 with banks. other short-tsrm Ilquid Investments with original maturities of three months or less. 8n¢J bank ovtrdrafts. Bank ov¢rdraft$ are shown within borrowings In 1.11 Flnan¢l•l In6trum*# The Charity has elècl8d to epply the provisioris of Section 11 'B¥5ic Financlal Insirum8nts' and Sociion 12 '01hgr Financlal In81rum?ntÈ Issues. of FRS 102 to 311 of its financial In$lrtsm¥nts. Finan￿￿1 instruments are recognlsed In thg Charfws balance 8haot wh•n lh• Chsiity bacomg$ p&rty to the contrgclual provl8loTrs of tho irt$trumont. Financial assets and 1iabllll￿B qre oltset, ￿th the net amounts presenied In the financial $tsiemenl3. when Ihore Is a leoally enforceable right lo sei oll the recognised amounis and Ihore l& an in￿n￿On to Settle on 8 net bpsi8 or lo rgallÉ8 tha Assot and &•tt10 the liability 8irnult8ne¢ualy. 88$1¢ aglc Thnancial 28s•tg, whlch Indud8 dtbtors. ¢08h and bank balances, are initially me88ured at tran$8¢tlon prfce induding transaction costs and are subsequently carried st amortisgd cosi using th• eftaaivo Int•r8£t mathod unless thg arrangemanl constitutes a finencing Iran8¥clion, whtrre the transaction 15 measured al thg Pfe5enl value of the luture rertripis dlscouniFd al a Tllatkpt rate OT Interest. Fin8ncial assets classified as receiv8bl& within one yoar ar9 not amort15erS. Baslc financial 113bllitses. incluLling crgditors and bank loans 8re initially reGognised at Iransaclion price unless the arrangement COn31itules a financing transactlon, where tho 4abt instrum$ni Is me8sur8d al tha prasent Yelue Df the future payments dSscounted at a market rate of Interest. Fingntial liabilities clg$3ifigd as payatsle withln one year are nttt amortisèd. Debt inttruments are Subsequently carded 8t 8mort]564 cosi, uslng th8 effectlve Inierest rgie mathod. Trade creditors are obligations to pay for goods or sorvices that h8ve boen a¢quirod in the ordinAry course ol oporatiC>ns from suppliers. Arnounl8 payable are classified as current Ilabiiiiies If paymeni 15 due wllhin one year or 1888. If nct. they ar¥ presenleo as non-current liabilities. Trade C￿(SI10r3 are recognlsed Inlllally at tran¥$¢tlon pri¢t and subsgquenyy measured al amortlsed cosi u8lng tho effeGtive Interest method. Dweco9nitton olllnanGlolllabAIIUes Finan¢i&l li*bilitie6 dereco9ni6ed when th8 Charity'B contrOGtual obligaibonw v¥pire or are or cancElleO. 1.12 Taxa￿0￿ The Trust, belng a reglslered Charlty. Is exempi rrom any t8X8tloft WIVI the e¥¢eptk)n of V8luè A(f(5gd Tax_ 18- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 202S Accoundng pollcles l¢ontlnu•dl 1.13 Provfj8lon8 ProvigiOnÈ are r8eogni8ed the Charity ha¥ a 16gal or constru¢l¥e present obllgaiion a¥ a rgsult of a past ￿ent. it is probgb1¢ th41 the Charily Y4111 be roquirod 10 seiiie that obllgatlon and a reliable 881imats can be made of th& amount of the obligation. The atnount recognised as a provision Is the bts5l estirnate of the conslderatlon ￿qUired to settle tha pr89ent obligation at the reporting end dale. taking 5nlo account the rlsks and un¢artait)Ué$ surrounding thè tsbligation. Whars the gffoct of Ihg time value of rnoney ￿ rnaterial. the amount expected lo bg requlred (Q set￿e the obli9ation 18 recognised at present value. When B provislon is measured gt present value, tha unwlnding of the dl$counl Is r•cognlsed 88 8 finance cost in n81 Incomell8xp8nditurel in tho period in whith il arisès. 1.14 Employee ben•frt8 The cost Of any ijnused holiday èntltl¢mont is re¢ognisÈd in Ihe period in whith the employee's sgrvi¢os are recdved. Termination b8nefit8 are recogni5ed immadiately as an expan￿ whèn th• Charity Ts demonstrably commllled lo lertninaiè the omploymaniof an etnpkbyee orto provide lertninatiorl b8nefit8. 1.15 R8tlr•rnoDt bonefils Payments io dgfin$d Conlrfbution rotirtsmgnt b&hFfit *cl)£m¢• a￿ thaiged a¥ an expense as they fall due. 1.16 Laasos Reftt81s pay8ble under operating leases. Indudlng any I￿$8 In￿nI￿￿9 r¢eewed. are chargèd as an expense on 8 Straight line basi& over the term of the relevant lease. Rentsl in¢ome from opersling 1oa$9s 18 recognlsod on a straight lin8 b8¥1s over the term of tha relevant least. InlU81 dirgct costs Incurred in newtiatin9 and Bfrkn9ing Èn opvrgllng le8¥e are added 10 the carrying amouni of the leased asset and recognisf¥ on 8 8traigbt line b881$ ovw the tertn. 1.17 For•tgnex¢h•ny• Transactions in Cu[Tenc￿ Other Ih¥n pounds Stsdino ar9 r8cord•d 41 the ral0¥ of oxchange prevailing al the dales of the Iransa¢iions. At each reporting end dale, monetary assets and liablllties that are otrnominaled in foreign CUfren¢ies are rtlran51aied al tho rate$ prevailing on th8 roporting ond dale. G8in8 and k)5598 arislns on Ir4nsl•lK)ll af• Included In net Trnoomèllexppndrfurel for ihp perkbd. Crbttcal •¢countlnu oStlmat•$ and Judymonts In the appllcaiion or the Ghorily's accounting policie8. the Trustees are requlre¥ to rnak* judgements. estimates and ¥ssumption3 obttul the ¢¥rrying amount ol assets end Ilabilllles th8t are not re8dily apparent from Dlh•r sour¢g5. The estim8ies 8nd Essociaied assumpUons ar8 b8sed on hlsiorlcal expèrlencè and othèr f&¢tors that qre consid0￿d lo be Th8 gstlmat&S 8nd undèrtying asJumption5 a￿ reviewed on an ongolng basi8. FlgviBions to accounting estimates are rgcoonised Sn the period in whlch tho *stimat* 1$ fèvLAed whero thè r6vl&ion &ffe¢ts only that pBrlod, or In ihe pernd of ttte r•Yiwon and fut%Jre perio(J$ where the rnvlslon affeGts bo¢h wffenr anij future periods. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Critical a￿OUnting utimates and liMfg¢mgnts (Con￿0￿d> Key 80urces ol estlmatloll UnGertalnty preclatlon Thè Truslgès use their knowladga of Ihg Charity and Ihfy ¥¢hool sector to ostimale Ihe useful liftjand re8ldual valutr of tangible fix6d assets in order to arrive at an applIcab￿ dtrprecialion rate. In accord8nce wilh 17 of FRS102, the Trust￿$ ravl6w and updat& thèsé eslimales if thera are indiutors thai cumnt esumalas should ¢hange. 11 musl be noted ihai ther9 Is Inher8ni uncertaSnly wllh Ihesa èstimate¥ 8$ faciers such a¥ unexpoctad wear and 18ar, technologl¢al advancement and change8 In m8fkg1 price may ￿$v￿ ID future changes to the approprble rate of depre¢&4tion. Dortallonty gnd leg&ct• Unre¥tsiG¢ed ReytrfGtod Toi81 T4)1#1 fun¢ts nds 2025 2024 general Donations, glffts and lÈgo¢ies Grant income 91,445 8282 99.727 209.402 9,426 9.428 6.526 Othar 81,752 81,752 77.fj11 182.825 8,262 1WJ,907 Z93.539 For th• yo8r entlid 30 S•pt•mbgr20Z4 18S,921 107,618 293,539 Chuvltable aGtlvltles 2O2S 2024 Chgrilable rental income 451.913 446,124 Other In¢otlle 20.730 6,146 472,643 452.270 Charilable renlel Income Indudes £425,000 per annum rant payab19 by Downside School. In 2024 and 2025 the Truslees agreed lo waive the rènt on the maln Scho￿ premises. see noie 8. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPIEMBER 2025 S Inv•th•nl8 Totsi 2025 2024 g•ner•l ￿￿19n8t0￿ Rentsi income 422.375 422.375 425.538 4,011 Intor•gt r•c&ivablé 427.631 427.631 429,549 F•t th• y•ar endèd 30 Sept¢mb•i 2Q24 429,549 429.549 6 Oth•r 2025 2024 Olhgr in¢¢m& 163,851 238,367 9.658 HÈrilago 8S8et salts 163,851 248.025 For th• y•4r •nd•d 30 S•pt•rnb•r 2024 248.025 AS explained In more ttelall In note 1.6. th8 Charity nolds h8ritaoÈ as8éts with 2 £nll earrying value. Therefore, 811 of the proceeds r9ceived are rg¢ognis&d 88 gain on the sale of hedtage assets other income. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Rai•ing Fund• 2025 2024 Fundrai￿￿9 olhercosts 3,724 5.788 3,724 5.76B payab 2025 2024 Downsklè SchcNJI 1.175,000 425,000 Belmnl Abbey 11S,000 Gr8nts to Indiv￿￿81$ 2,210 915 1.292.210 425.915 The frustee5 have #llreed to PTovide a granl of £750.000 end a rgnl walvpr of £425,000 1.8. ont ye8rf8 ffjnt, 10 Downslde School for tho School yE¥r 1st Soptsmber 202& 31$1 Augu$l 2026. This has been fully provide¢ for Hs shown In Note 22. Followino Ihe Monastic communlties move to Belrnont Abbey from 8uckfasl Abbey. in July 2025. the Trustee5 paid a 9rant Df £1 15.000 to 8elmoni Abbtry as • Conlrlbulion towards the wlder renovallon project at Hèdley Lodge, part of which the community now rasl¢Je wllhin. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Chorftable o¢tlvltl•B 2025 2024 staffco8ts 66.524 62.407 Depredolion and hmpaiTrrent 331,685 339.402 Weffar8 63,896 59.113 Prerni6es 503.361 221.670 Supp)rt 328.366 247,769 L04n I01Ore$t 173.958 187.062 1,467,790 1.117.423 Grant funding of Bo￿vIlle5 IBee note 81 1.292.210 425.915 Share ofgovgmanca cosls1868 nol6 111 175.634 162,558 2,935,634 1,705.896 A￿ly$1￿ byfund Unre81*cted funds- genÈr81 2,867,B28 Reslricled fund5 67.806 2,935,634 Fort￿ ygar •nd•d 30 S•pt•rnbor2024 Unrtstrfclèd funds- generdl 1.660.341 Restrtcled fund8 45.555 1,705.B96 Nont) oftho Truslee? lor any ppraons conneclad with Ihatn) received ony retnuner8tiDn or benenis from the Chartty dunng lh¢ yo8r. No Trustees were relmbur5ed expenses during the year {2024".£nill. The Charty prOV￿e8 board and lfvlng expenses lor Ihtr Ttuutstrs who aro Monks of Down$wJe Abbey. -?3- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 SvppDrt Governèncè 2025 2024 ofalb¢all ¢06ts SLgff tost 154A80 154,480 141.736 Audit feeg 21.154 21.154 20.820 Govemance 175.634 175,634 162,558 Analysed batrieen 175.624 175.634 162,$58 No Other foas are pèyable lo the auditor for other serviceg12024."£nill. The Trust has legal liebility insurance that covers the li$bility of the TTUStees up lo a Ilmll of £1 millknn The pr8mlums pald for ihis cover were £1.13512024'.£1.1351. 12 Taxatlon Tho Ch¥rity 18 exempl from lax on in¢ome and gains falling wlthln section 505 of the Ta¥e$ Act 1988 or S8Clion 252 of the Taxatlon of Chargeabl& Gains Act 199210 th8 extent Ihatlhese ar0appli8d lo Ils charitable objects. 24- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 13 Employeès Number of employo88 Tha average tnonthly numbor of frmploytrts during the y88r was". 2025 2024 Number Number Voluntery P￿￿￿3 Support Employmont C09ts 2025 2024 W4es saaries 199.643 183.414 So¢bl s*¢urily costs 11.Z2T 11.524 Qlher p8n8lon costs 10,134 9,207 221.004 204,145 Wthin employmonl ¢otts shown above are £154.48012024.t141.7381 In relation lo govefflarice cosi snown In not9 11. The remaining amount 1$ in¢luded within ch8rilable aGtivilies on note 9. There was one •mploy00 Lvhose annual r8munor•tson was £60.000- £69,999 12024'.ftonel. The Tru8tse¥ h8v& reclassified 2 employee8 from Voluntsry to Support for 2025. a¥ thls Is a more appropr181* classification for their rolas. 14 Net g&lfi$lllos*¥l on Inve¥tmentA Unrostrictod Unrestrlci8d Restricted Total Totsl fund8 gDnoral funds d05ignatod fvnd$ 2D25 2024 Revaluation of investm8n15 {1,24S} Revaluatlon of Inve¥tmèTrl properties 577.61U 577.610 702.718 577.610 577.6to 701,473 Fort￿ y•ar gnd•rf 30 $8ptemb•r 2024 702,718 11,?321 701,473 -25. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCSAL STATEMENTS (CONTINUED) FOR THE YEAR ENDEO 30 SEPTEMBER 2025 15 Flrwida In&tnm*ts 2025 202d arrylng amount of financlal assets Debt Instrumanls maa$ur¢d at amorbsad cost 71,167 271,258 C￿￿1119 of financial Ilabllltle$ Measured al 3tTh)rhsed cosi 2.766.966 2,722,319 1$ Tanglbl• flx•d Land and bulldlngs Fixturos. fitting5 & gqtJlpmet)t Motor Vohl¢los To ¢0gt Al 1 October 2024 Addlllons 11,015,478 2,214 186.9201 10.950.772 1.612,390 22,485 162,2121 1.572.663 28.015 12,655.883 24.899 1129.1321 12,551.450 Tr8nsfer lo investment property At 30 SJpi¢mbgr 2025 28.015 Depreciation gnd Impolmiont At 1 Oclober 2024 Depreciation ¢h$rg$d in year Trnn3fvr to Investment pioperty At 30 Septèmber2025 2.191.077 245.772 18261 730.166 82.081 131,4301 16.519 3,832 2.937.762 331.685 132,2561 3,237,191 2,436,023 780.817 20,351 Corrying amount At 30 Sep￿mber 2025 8.514.749 791,846 7,664 9,314.259 AI 30 September 2024 8.824,401 1152,224 11.496 17 Investment property 2025 Fairvalue At 1 OctoD8r 2024 A&lilions Ihrou9h exiemal acquisiio Transfers frotn Tangible FIX￿ A￿et8 Disw5aks 13,4e8,595 156.276 96,876 1265.0001 Nét ¢rl¢*w6 through fairvAlud adSu•lmértlty S77,610 AI 30 Septsmber 2025 14.014,357 -26- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 17 Investment property (Continuedl Investment property ¢omprlse$ of farm buildings, farm land and vlllage properties Id?nisried as surplus lo charflable requiretnenls and Bre shown at tnarket value at thé balan¢8 she&t dale. Tho prop•rties ¢ont4nue to be rented during tha year. The fair value of thg faryn land and building9 1$ bagèd on agreed 8ole value ol the farffl. which h8d been a¢¢tptsa by the Tru81eg8 at th• reporting dale. Tht saio of the farm Gompleied on 4th December 2D25, strB Note 31. Thè falr valua of thè village properties 1$ based on Your Move and Andrews. both Letting Agonis managing thè Oown5ide Abbey Gen9ral fwsl Inv*8tm•nt propgrty portfolio. a9$è68mènl in Ottober 2025 of whal Ihe5e assels would hav& b¢¢n wortt) at 30 Styptember 2025. They are not connected with Ihtr cnarity. The vaiueiions were made on an apon market value baÉis by ref?r8nc8 to market evidènctr of transacllon prlces for 8imllar properknes. Stocks 2025 2024 Finlshed ooods and ooods for r8Bala 21.107 51,520 Stock 10 the valu8 of£30,051 has been written off during the year as the shop wllhin the Visitor Centre continues to bg ciosad, rendèring the Stock Bs obsolete. 19 Dobtor• 2025 2D24 Amunls fallino due within one yeer. Ttade debtrAB 23,325 4T.949 235.b10 1,460 269.789 227.115 Olhor doblora Pr&payments and Bccfued Income 307,084 498,364 -27- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Croditov¢'. amounts fAlliho duèwithin cm• 202S 2024 Olhertaxalion and securfty Trade creditors Other creditors 4.736 19.866 55,468 293,509 19,688 3,880 12.953 4,OQ2 287,572 19,668 A¢¢ru81¥ deferred income Bank loan 393.247 328,075 Included In e¢¢ru81s 8nd defefred income is delerred iTrcome of £12fj.713 12024.. £229,941) for rent and Insur8nc8 receivable relallng to 8 later perlDd. 21 Crtdiiors-. arnounts lallithg duB after rnomy than on• y•*r 2023 2024 Bank loan 2.378.455 2.398,123 2.378.455 2,398,123 During March 2024, Downside Abl)ey General T￿st took out 8 loan to the value of £2.424.000 from Lloyd5 to repay th¢ Btrclays loan on beh81f of Downside School. 8nd for which 103n Downsido Abbey G&nèr81 Trust was a180 guarBntor The Lloyd$ loan 18 secu￿￿ by 36 inveslmenl propèrties Irom the Downside Abbey GÈneral Trust property portloiio. Tle loan h8s a leTm over 5 years. ¥1 s fixed rate of 7 23% for an initial 2-y88r p&nod ending 26 March 2026. At tho ond of the 18rm. thtr loan is lo be repakl in lull or refinanco options wlll be explored. Tha agting of the bBnk loan f811s lo be repaid as follows.. 2025 2024 Due wllhln one year Dug Wiihin one to yearB Due within two ta flve y•ar5 19,668 19,668 2,358,787 19,668 19,8e8 2,378,455 2,398,123 2,417,791 DOWNSIDE ABBEY GENERAL TRUST NOTES TOTHE FINANCIAL STATEMENTS IcoKllNUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 22 Provislons for Ilabllltres 202S 2024 Suwk)rtto t)D￿sIde s¢￿ Remed￿1 wort lo In¥estmenl Prop8rbes Rwnedial w(xk to Abw Church 1,139.563 10.500 200,DOO 425,000 1.350,083 425.0(Xl Movementon pro￿$￿￿8.. support to Dowm*id• School Remedlal work lo Investmont Prop*rU•o R•rrndi¥l wow to Abbey Church At 1 Iktober 2D24 425,000 1,175,000 460,417 Ad￿lliOnaI prov18￿￿6 in thtr ye8r Othef movefflents 10,5(Ml 200,000 AI 30 S8ptsmb8r 2025 1,139.583 10.500 200,000 AI 30 SgPtemi)or 2024. 9 grgnt equivalent lo Ihe annual rent of £425.000 lor the yèar 1 Strpletnber 2024 31 August 2025 had b¢vn ¢ommillEd 10 Downslde School. Thi5 grani h3s bo8n paid in lull during the reporting Period. Durtng the repofbno perlod. Downsh1e School r8qU@$1gd sddllional finan¢4&1 Support. The Trusle¢s accepied an¢ agreed to waivg th8 ront of £425.000 for thè School ytrar of 1 Soptefflber 2D25 - 31 Avgu$i 2026. 8n(T provid8 8 further gr8ni of £750,000 dudng Ihe same pedgd. Th1$ h?5 been fully pro¥￿ed for by the Trusi808. Ourfng the r8portin9 penod. a specific investment pmperty was Weniifled a¥ requirtng @ssentvdl ￿paIr works. At the r8pDrting d818. £10.500 of Ihe r8medial work remains outstanding And fully provided for by the Trustees. Inspecllon of the eleGiriGal circullry wilhln thtr Abbey Church 88 Part ol the most recent EICR Identified the need lor signif￿ant remedial WOTk. Folbwlng discussion$ with Iht Trust's intsurers. the TrusiBes instr￿Clad Ihfjlr h15tork bulldings advi8or Philip Hughes Assopiales lo ￿VeStigate thls further. The estimated tyrned￿l cost$ have been prgv*¢d in full. PqymeDI of Ihtrse amoun15 wlll b¢ fvnoed out ol Ihe Twsfs reserves. The provIS￿n$ aTr expe¢ted to unwind in full within one yèar. 23 R8tlr•monl b•nefit schem•8 0ofin•d rontrlbutlon sch¢me• The Charity runs a dafined contributions scheme. The cost for the year repre%nls Ihe Ch8rty's conlribulions to that SGheme Of £10,134 12024." £9,2071. Al th8 year*nd £1.27012024.. £1,182) was accrued in r9spect of Cantribu￿on￿ to Ihis scheme. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Re5trl¢ted funds The incoma funds of the Chgrity rwtrictsd fundg the followlng unexpeftdBd ba18nc08 of don811ons and grants he￿ tsi tru8t for purposes. Movemobrt In lund$ Balance ai 1 O¢tober 2024 Incorrthr Galm. Balaneo at 30 S¢pt•mbèr 2025 Twsfe 412.689 154.625 2,450 4,26D 180.5 102.277 17121 143.9731 411,977 118.518 2,663 4.465 157.469 102,277 Abbey Church 14ave FurKJ Frfends of Downskl8 Organ Restorydlbn StV&J9StFurnl Olher Funds 7.864 213 205 856,891 8.282 187,8061 797.367 Prlor Y•4r hlov¢mont In funds alan¢e at 1 O¢tob•r 2023 lrteoming rosourcB5 e&laThGB at 30 September 2024 Resoure pxpèndgd Lo$8￿and E(x*sFastical Abbey Church Nave FurKJ Frifynd$ of Downside Organ Restoration SIveda￿ Fund Other Fu 315,580 168.570 2,237 99,878 3.267 213 12.3TTI {3921 412.6Bg IY.625 2,450 4.260 180,J90 102.277 2￿.352 103,321 125,3591 18881 14031 11561 796,060 107,618 145,5551 11.2321 856,891 The E¢¢￿9￿a￿t￿al Educ*lKJn Fund w0v￿e9 kreduca￿on in England or elsewhere of s￿dEnts forihe Reman Catholic prigsth(Ké. The Church N8ve Fund provkles fortrs extansion, upkeep orrepaireflhe Nbboy Church al th)wn*de The Friends ofDOWn￿de 8 SUPWrtgffwJp forihe Bened[￿ne monkg Of1￿ Ab￿Y ol Sl tsrogory th6 Grèol, central belng to hdp Ihem thelrwork in edurAlk)n, mlnisty, scholarship 2rbd prayer. Oryan R&storglKJn Fund pr[W￿¢S forthe roetrtttiw requlred to tha Compton Organ k)c&ted the Abbey Churth al D￿￿$H1o. The St Vedgst Fund provi¢e¥ 8UPPOrt to aklerfy member5 ufihe cofftmunity. StsrriryeTrl resources arÉ In an appropriate form for each fund lo eTh9￿& Ihe fund lo be fjppl￿d a￿￿[danc9 with thtr rtrslrirtson. DOWNSIDE ABBEY GENERAL TRUST NOTES TOTHE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 25 UnT8Strtcted funds. tleslgnated These are unreslrthd funds whid) are matsrtal to the cha￿￿8 aafviikns mad8 UP 88 follows.. Mowmwt In ￿ndS Ros(xJrc85 Balance ot I October 2024 Incomlnu Balanco * 30 S•ptember 2025 and TransfErs Sundry Funds 12.867 12.887 PrforV08f Mo¥•m8nt Irb lund8 Balance at 1 OGtober2023 Incomin resour¢•ts Balance at 30 S•ptomber 2024 andTAnthrn Sundry Funds 12.880 12.867 Sundry fund8 eomprisès of small funds for vBriou5 purposes such as scholaF5hSps and bursar￿5. 31 DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 Unr•4triel•d lur The ￿nCome lunds ol the Cttarily Snclude the following (Jétswnat￿ funds which haye been $818sld& out of unr881rlcted funds by Trustees forspeafic purposés". Movemont in fund8 Resouree5 alanco Ot 1 October 2024 Incoming Balance at 30 S8ptemb•r 2025 Tran8fer8 G8r*3r•l FUTr 10.9W2.511 1246.750 PO71,5521 577.610 18.945.319 Total unrestrthd run¢$ 19.992.511 1.246.750 12.871,5521 577,610 18,945,319 Prlor Yeara re3tat•d Mov•m•nt fund• Balanv &t I October 2023 Incoming 8our¢o1 Gan5. LDsEes 8ndTran81*¥ Baldn¢e ot 30 5optemb¢r 2024 General Funds 19,640,137 1,315.765 11.686.109) 702.718 19.992.511 Total unTeslri¢t8d fun(J5 19,640.137 1.315.765 11,868,109) 702,718 19.992.511 -32- DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2025 27 of nota•••t• b•h¥wn fvnd• Unr•gtrtctad D•bi0rt•tad Total Fund balance5 at 30 September 2025 are reprBsented by.. Tangible asse Inve3ltnent proper￿e5 Current a8seis1l5iabillt￿sI ProvIS￿n￿lL90￿S 9.314,259 14,014.357 1635,0911 13.748.20el 9,314,259 14,014,357 175.143 13,748,206) 12,867 797.367 18.945.319 12.867 797.387 19,755,553 Prfor year Analys1$ of rbtl assels b•ts¥e*n fvnds Unre5trfcted Dpslgnztad ReBtricte Tgtsl Fund balances at 30 SepigThber 2024 are repre5ente¢ by.. Tangl￿e assels Inv*sim?nt prop8rtit$ Currtrnt g53etsllliabilitiesl P￿¥1s￿on$ 9.718.121 13.466.595 1351,4141 12,842,791) 9.718,121 13.468.595 518.344 12,842.7911 12,867 856.891 19.992.511 12,867 856,891 20.8B2.2fj9 The op?rating loase rapros8nts tho ￿85￿ of th8 premi8trS to Downside School. The ￿￿se ¢otnmenGe¢ on 11 September 2019 and i6 svbipfjt to ¥ five yo3rfy rent review. Al 11 Septsmbfrr 2024, it was agreèo ihai thè rent review would bè Poswonfd by Iz monlh5 8nd DownsiOÈ Abbèy G8nerai Trust would provKSe Downside School with a grant of£425.000, l.a the equival8nl of one yoar's rent. During September 2025, the rent review h¥$ again D8en Potslponed and it ha5 b￿n ag￿ed Ihal the renl for the School year I Sepiembor 2025- 31 AugJsl 2026. will b$ w$iv8d, thi$ hos b$gn provided for 88 a grant lo Down8ide School, see note 22. At the reporting end ¢Jat8 Ihg CharNy contractgd wrth tenanls for lh& folk>wing minimurn 188s0 paymonts.. 2025 2024 Wthin onè year 425,000 Be￿9&n tsjo and fve years 4￿5.000 -33 DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Rtlated party tTan8aGtions TV￿r￿2¢t14jM$ wlth r•lated pftrtlè$ During the ytar Ihe Charity enterad into the followlng transactions wlth rolated psrtieB'. 2025 2024 P&rt$h priests Parlsh expenses IncomÈ received on b8half of Parish Down$￿e Abbey M1ssions Trust f>eposll Downside Abbey Pdi88ions Trust Intorost 475 7.625 550 17.474 16D,0001 12791 144,3891 18,024 Th8 followinu amounts were outstgndln9 at rewjrtiw end date.. Amounts Owod by related partlo8 2025 Amount8 owed by relatsd partle& 2024 Balanc8 Nèt Balanc Mot P8ri$h expenses 22 22 56 Amovnt8 owed ¢• rol¥ted partles 2025 Amounts Owed to relat*d partles 2024 Nat Net DO￿?1$1￿¢ Abbey Missltsn$ Trust 50,279 50,279 50.279 50,279 The abov? balancas are in r81alion to Downsid8 Abbèy blissions Trusl, which in¢lud83 St Benedi¢l's Church Parlsh. To maxim￿• interest returns on fjownside Abbèy Missi(￿$ Tru&t Burplus re£erve$, 1110 Tru&t8e$ aoreed lo deposit £50.000 with Dr)wnsld¢ Abbey aeneral Tru8t tty allow the funds to De Included wlthln ihe DAtsT short nxed term Irea5ury deposits with Barclays whKh requlre a minirnum of £100,000 deposrt lo use the facility. Tho intere51 generated by the Downskje Abbey Missions Trust cash is $eperalely recorded and ¥¢¢ounled foi. All other as5els of Downs￿@ Abbey MIssl¢n$ Trust &re h81d separately from those of Downside Abbey G&nor81 Tnjsl. DOWNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 30 Contingènt Liabillties Following th8 Insuranc8 renewal process. for lh8 perbd 1 Septsmber 2025- 31 August 2026. the insurer8 noted concems regarding ihe findlng$ end advKsed urgent remedlal Wofks wllhin tho most recent EICR for the Abb8y Church. Tllè •#timat•d medial costs have begn provlded for in fvll, see Nots 22. Bnd when completed ahould aee Ihe insurance excess rebJm to Iho or¥ain81 level of £1.000 In Octobèr 2025, after the year end Downsidg Abboy GonarBI Truat look out a loan of £750,000, wllh Lioyds. In order to psy Down51de Scho(A Ihe grant providtsd for within note 22. Thtr Lloyd¥ 108n is strBured by the 8ama 36 invesimonl properhes, from the Down$￿$ Abbey C&noral Trust property portfolh), as tha exlstln9 £2.4m loan. Th8 n&w £750.000 ￿an has > i•mi over 5 ye8rs. ai a wari8ble ral& of 8.33%, 2.33% 8boY6 Ihtr Bank of Enoland Base rdte. As a var%Èble ratè loan, there are no f8os 8¥gOC1810d wilh 8n eady rep8ymenL Ouring Novfjmber 2025, iwo Invètsthieni propertles were sok1 for combined proceeds of t400.000 Further. On 41h December 2025. Ine sale of Home Fami was compl8ted at E3.46m. greatly improvlno tha Tru&t's liquKlity position. Thg autst¥nding kjgn babnce in rd4t￿n to the £750,DOO 108n. ulilBed to make A gr8nl payment to Downslde S¢hool as descrfbed abovo. was ropaid kn full on 5th 0￿Mb￿r 2025 u$ln9 tho pro¢¢ed¥ of the Home Farni sale. -25- DOVVNSIDE ABBEY GENERAL TRUST NOTES TO THE FINANCIAL STATEMENTS IcoKfiNUED) FOR THE YEAR ENDED 30 SEvfEMBER 2025 2025 Z024 surplu￿(dorICltj for the yoar Adlustrnenls for". Investsneni Ino)rn8 re0)gnk￿ In statement offnanclal ¢fjvilies FalT Yalue Igalnsl and losses on h)vestrn8nt properti Falr value199￿$) losses on Inve5trnenly Depre¢iaiion and impalrmtnt of tan9lbla fixad as8et& 11,108,7161 413,192 (427.6311 1577.6101 1429,5491 1702.7181 1.24J 339.402 331,685 Movements in working capital.. Ilncre858llDecrea$e in 51oGk5 IlnswsellDecrease In dgbior$ IOecre8seylncroasè in credil(Ys Incr&a$ellD•¢reasal In provlsiorts 30.413 191.280 65,172 925,083 2,349 1139.4741 1357.0491 12.155.691) Ca&h absorbed by op•ratlon* 1568.3241 13,028,293) Atl Odobor 2D24 At30 33 of¢n•w th r*tfurKWlthbt) ¢a•h Ilows 2020 Cash 8t 88nk and in hand 276,867 158.3361 220,531 Loan$ falllns due wlthin ong year (19,8681 119.6681 Lo8r55 lalling duo after mor8 Ihan one yoar 12.398,1231 19,668 12,378,455) 12.140,9241 136,6681 12.177,S921