2025-03-31-accounts

THE FELLOWSHIP OF SAINT ETHELWOLD

REGISTERED CHARITY NUMBER 1179427

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Wenn Townsend Chartered Accountants Abingdon

THE FELLOWSHIP OF SAINT ETHELWOLD

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2025

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CONTENTS
Reference and administration details 2
Trustees report 3 - 4
Independent examiner’s report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 11
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1

THE FELLOWSHIP OF SAINT ETHELWOLD

REFERENCE AND ADMINISTRATIVE DETAILS

Charity registration number: 1179427 Address: 30 East St Helen Street Abingdon Oxon OX14 5EB Trustees: Mrs S Howard Mrs A Barnett Mr R Clarke Mr M Reyani Mrs E Taylor Mrs M Buxton Mr B van der Ree (appointed September 2024) Bank: Lloyds Bank Ock Street Abingdon OX14 5AW Independent examiner: Stuart Bates FCA Wenn Townsend Victoria House 10 Broad Street Abingdon Oxon OX14 3LH

2

THE FELLOWSHIP OF SAINT ETHELWOLD

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

The Fellowship is a Charitable Incorporated Organisation and registered with the charity commission as charity number 1179427.

Details of trustees and advisers are set out on Page 2.

The power of appointing trustees is vested in the surviving or continuing trustees. New trustees are appointed following attendance at meetings by invitation and interviews with existing trustees.

Objectives and activities

The objects of the fellowship, as set out in the foundation document are:

1. The advancement of the Christian religion, particularly its expression through the contemplative tradition of Christianity with its emphasis on meditation, and personal spiritual growth.

2. The promotion of religious harmony for the benefit of the public by educating the public in different religious beliefs and by promoting good relations between peoples of different faiths.

3. The advancement of education in spiritual practice and religious expression to promote understanding and tolerance of the role of different religions in personal and public life.

As a small body of trustees, it is not practical to have a structure of sub-committees. The trustees meet formally on a regular basis to discuss outstanding matters. In the interim details of all matters of importance are circulated and dealt with by e-mail. Currently Mrs Susie Howard has day-to-day responsibility for running of the house, including dealings with staff, and Mrs Ann Barnett maintains the CIO’s financial records. The CIO does not have a designated chairman or secretary

The trustees have paid due regard to the Commission’s guidance on public benefit in deciding what activities the charity should undertake.

The trustees have continued to make the public rooms in the house available to hire by organisations whose activities are in sympathy with the aims of the CIO and, have organised a number of day courses open to the general public. We have continued to make the Sanctuary available for prayer and meditation on an individual and group basis and have continued to welcome individuals and small groups who have visited for retreat purposes.

Achievements and performance

This year has been a period of consolidation in the house and garden and of striving to provide the best facilities for our users.

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THE FELLOWSHIP OF SAINT ETHELWOLD TRUSTEES REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Financial review

The financial statements of the Charity for the year ended 31 March 2025 are set out on pages 6 – 11.

The property is a listed building of some age, and the trustees recognise that the upkeep of the house requires considerable expenditure. It has been the trustees’ policy to have an ongoing programme of refurbishment to maintain the building at a reasonable standard.

The trustees have absolute discretion to invest monies as they think appropriate.

It has been the trustees’ policy over the last few years to build reserves to a level sufficient to cover the Charity’s fixed asset book value plus £100,000 for overheads and contingencies. The general fund now stands at £1,584,351 with £1,559,815 representing fixed assets. By taking this prudent approach, the trustees feel that they are reducing any financial risks to which they may be exposed.

On behalf of the Trustees

Mrs S Howard

Date: 27 January 2026

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THE FELLOWSHIP OF SAINT ETHELWOLD

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report on the accounts of the charity for the year ended 31 March 2025, which are set out on pages 6 to 11.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Stuart Bates FCA

Wenn Townsend Chartered Accountants Victoria House 10 Broad Street Abingdon OX14 3LH

Date: 28 January 2026

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THE FELLOWSHIP OF SAINT ETHELWOLD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED

31 MARCH 2025

Note Incoming resources Income from: Donations Grant from OCC Charitable activities 2 Investments Other Total income Resources expended Expenditure on: Raising funds Charitable activities Governance costs Total expenditure 3 Net (expenditure)/income Fund balances brought forward Fund balances carried forward 10	Total Unrestricted Restricted Total Unrestricted Funds Funds 2025 2024 £ £ £ £ 6,993 - 6,993 7,350 - 5,000 5,000 72,662 - 72,662 71,472 1,235 - 1,235 1,818 4,755 - 4,755 5,830
	85,645 5,000 90,645 86,470
	119,634 - 119,634 70,598 33,743 - 33,743 22,043 1,140 - 1,140 1,122
	154,517 - 154,517 93,763
	(68,872) 5,000 (63,872) (7,293) 1,653,223 - 1,653,223 1,660,516
	1,584,351 5,000 1,589,351 1,653,223

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THE FELLOWSHIP OF SAINT ETHELWOLD

BALANCE SHEET

AS AT 31 MARCH 2025

Notes Fixed assets 7 Current assets Debtors 8 Bank and cash Current liabilities Creditors:due within one year 9 Net current assets Total assets less current liabilities Creditors:due after one year Net assets Funds 10 Unrestricted Restricted	2025 £ £ 1,559,815 2,495 29,261 31,756 2,220 29,536 1,589,351 - 1,589,351 1,584,351 5,000 1,589,351	2025 £ £ 1,559,815 2,495 29,261 31,756 2,220 29,536 1,589,351 - 1,589,351 1,584,351 5,000 1,589,351	2024 £ £ 1,560,413 6,278 88,962 95,240 2,430 92,810 1,653,223 - 1,653,223 1,653,223 - 1,653,223	2024 £ £ 1,560,413 6,278 88,962 95,240 2,430 92,810 1,653,223 - 1,653,223 1,653,223 - 1,653,223
	31,756		95,240
	2,220		2,430
		1,589,351 -		1,653,223 -
		1,589,351		1,653,223
		1,584,351 5,000		1,653,223 -
		1,589,351		1,653,223

The financial statements were approved by the Trustees on 27 January 2026 and signed on their behalf by:

…………………. Mrs S Howard Trustee

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THE FELLOWSHIP OF SAINT ETHELWOLD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

31 MARCH 2025

1. Accounting policies

Basis of accounting

The financial statements are prepared on a going concern basis under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these financial statements.

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

Incoming resources

Incoming resources are recognised when the charity becomes entitled to them, the Trustees are virtually certain that the income will be received, and the monetary value can be reliably measured.

Voluntary income

Donations and gifts are recognised on receipt by the charity. Incoming resources from tax reclaims are included at the same time as the gifts to which they relate.

Gifted assets

Gifts of significant fixed assets are capitalised and shown in the appropriate fixed assets category. The value of such assets is included in income in the period in which the gift is received.

Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

Governance costs

Governance costs include the costs of the preparation and examination of statutory accounts, the costs of trustees’ meetings and the cost of legal and professional fees in connection with governance or strategic matters.

Freehold property

The freehold property is shown at its market value at the date of transition to the SORP (FRS 102). No depreciation is provided on the property as, in the opinion of the trustees, its useful life is extended indefinitely by maintenance work carried out and depreciation would therefore not be material.

Depreciation

Depreciation is provided on other tangible assets to write off their cost or valuation over their estimated useful lives. The following rates have been applied:

Fixtures and Fittings 25% on reducing balance Furniture 25% on reducing balance Equipment 25% on reducing balance

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THE FELLOWSHIP OF SAINT ETHELWOLD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

31 MARCH 2025

2. Income from charitable activities

Unrestricted funds Rents Room Hire	Total Total 2025 2024 £ £ 36,935 33,690 35,727 37,782
	72,662 71,472

3. Resources expended

All unrestricted Raising funds Property Household Staff Costs Administration costs Charitable activities Property Household Staff costs Administration costs Governance Accountancy	Total Total 2025 2024 £ £ 97,879 49,970 1,043 1,769 10,037 10,417 10,675 8,442
	119,634 70,598
	27,607 14,094 294 499 2,831 2,938 3,011 4,512
	33,743 22,043
	1,140 1,122

4. Trustees remuneration and expenses

None of the trustees have been paid any remuneration and no trustee expenses have been incurred in the year.

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THE FELLOWSHIP OF SAINT ETHELWOLD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

31 MARCH 2025

5. Independent examiner’s fees

. Independent examiner’s fees
Fee for reporting on accounts Accountancy services	2025 £ 190 950 1,140	2024 £ 180 942
		1,122

6. Staff costs

Salaries Social security costs	2025 £ 12,867 - 12,867	2024 £ 13,355 -
		13,355

The average number of employees was 2 (2024: 2).

7. Fixed assets

Cost or valuation At 1 April 2024 Additions At 31 March 2025 Depreciation At 1 April 2024 Charge for year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024	Freehold Fixtures & Furniture Equipment Total fittings £ £ £ £ £ 1,558,022 39,008 4,852 5,637 1,607,519 - - - - -
	1,558,022 39,008 4,852 5,637 1,607,519
	- 36,737 4,820 5,549 47,106 - 568 8 22 598
	- 37,305 4,828 5,571 47,704
	1,558,022 1,703 24 66 1,559,815
	1,558,022 2,271 32 88 1,560,413

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THE FELLOWSHIP OF SAINT ETHELWOLD

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED

31 MARCH 2025

8. Debtors

8. Debtors
	2025	2024
	£	£
Group Undertakings	2,336	5,579
Prepayments	159	699
	2,495	6,278
9. Creditors:due within one year

8. Debtors	8. Debtors	8. Debtors
Group Undertakings Prepayments 9. Creditors:due within one year			2025 £ 2,336 159 2,495	2024 £ 5,579 699 6,278
	Taxes and social security Accruals 0. Funds 2025 Unrestricted General fund Designated – Garden appeal 2025 Restricted Provision of disabled toilet 2024 Unrestricted General fund Designated - Garden appeal	Opening Income balance £ £ 1,653,203 83,181 20 2,464	2025 2024 £ £ 1,020 1,170 1,200 1,260 2,220 2,430 Expenditure Transfer Closing balance £ £ £ (148,448) (3,585) 1,584,351 (6,069) 3,585 -
		1,653,223 85,645	(154,517) - 1,584,351
		Opening Income balance £ £ - 5,000	Expenditure Transfer Closing balance £ £ £ - - 5,000
		Opening Income balance £ £ 1,660,516 84,771 - 1,699	Expenditure Transfer Closing balance £ £ £ (92,084) - 1,653,203 (1,679) - 20
		1,660,516 86,470	(93,763) - 1,653,223

10. Funds

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