The Friends of Abingdon Abbey Building Trust
Year ended 31 December 2023
Charity Number 1183398
Annual Report and Financial Statements
THE FRIENDS OF
ABINGDON ABBEY
BUILDINGS TRUST
||**Page**|
|---|---|
|**Trustees' Report**|**3 – 8**|
|**Independent Examiners Report**|**9**|
|**Financial statements**||
|Statement of Financial Activities|**10 -11**|
|Balance Sheet|**12**|
|Notes to Financial statements|**13 – 19**|
2
**The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Welcome**
The Friends of Abingdon Abbey Buildings Trust welcomes the interest of anyone concerned with the conservation of heritage buildings, particularly from the medieval period, their future use, particularly by local communities, specifically in Abingdon and the surrounding area and the buildings financing.
## **Our aims**
The aims of The Friends of Abingdon Abbey Buildings Trust are:
- to care for the Abbey Buildings and site (all listed and part of which is a scheduled monument), primarily through their preservation, restoration, development and maintenance which is a continuation of the work of our predecessor charity, The Friends of Abingdon Civic Society.
- to provide public access for all to the Buildings and to promote their use as a centre for community activities.
- to act as a gateway for both local people and visitors to the long and rich history of Abingdon.
## **Objectives and activities**
The Buildings, which date primarily from the 13th, 14th and 15th centuries, were the nonecclesiastical commercial buildings of the Abbey which was destroyed in the Dissolution of the Monasteries in 1538. Since being saved from demolition in 1944 by our prior charity, The Friends of Abingdon Civic Society (charity number 225880). They are now a nationally scheduled monument, architecturally grade 1 listed, and have developed into a key community asset for Abingdon and the surrounding region.
In line with the trust’s aims the Buildings are open to heritage visitors in the summer months and are available for hire the whole year round to generate revenue to sustain their maintenance. They contain the Unicorn Theatre, a converted granary, which is the only theatre in Abingdon town centre. The Unicorn is used extensively by drama clubs and companies, by musical groups of all kinds, for revived cinema, for meetings and for presentations by societies, charities and local schools. The Buildings are licensed for weddings and have an alcohol licence, and therefore host many weddings, parties and community events. They are used by the town’s major festivals: the annual Craft Fair, Heritage Open Days, a Jazz Festival, a Beer Festival and many one-off events. The Buildings represent a vital community hub in the town centre.
Use of the Buildings is mainly limited to the warmer months (April to September) as the major range, the Long Gallery, is unglazed and exposed to the north. Also, the whole building is impossible to access for people with a disability. Therefore, the key purposes of the ‘Enhancement Project’ are to improve access and services to create a comfortable building that can be used by everyone for 12 months of the year, whilst respecting the conservation of the medieval fabric.
The trustees have had regard to the Charity Commission’s guidance on public benefit.
3
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Achievements and performance**
The trust successfully submitted an application for a Development Grant in 2022 to the National Lottery Heritage Fund (NLHF) in August 2022. This was intended to support the development of a full delivery plan to set out the detailed plans, budgets, business plan, community engagement plan and interpretation plan for the full Enhancement Project during 2023/24. The Development Grant to a value of £255k was agreed by the NLHF in December 2022, this being subject to the trust raising an additional £122k in matched funding. grant to support the Enhancement Works.
The permission to start the Development Project was issued by the NLHF in February 2023 and the trust started recruitment of the key partners in March 2023.The trust appointed Focus Consultants as project Manager for this development phase, with Purcell appointed as architects, greenwood as quantity surveyors, and Image Makers to development the interpretation plan. Claire Hamilton Associates was appointed as fundraising consultants in November 2023.
Building occupancy continued to build following the impacts of the Covid lock downs with a record number of weddings held in 2023, some deferred from earlier. The Heritage weekend in conjunction with the Civic Society, the Beer festival and Craft Fair were also successfully held in 2023 with large attendances for both. The Unicorn Theatre was also back to its normal level of use from heater companies and music at the Unicorn. However, the use of the buildings by schools and other community groups was substantially down on pre-covid levels. Restoring this to will be a priority for the trust in the post enhancement work plan.
The partnership with Oxfordshire Adult Learning (OAL)/Abingdon and Witney College continued through 2023 with hopes that this will become a permanent activity at the Abbey Buildings.
## **Plans for the future**
The key challenge for 2024 will be the completion of the enhancement project development phase. This is a hugely demanding tasks as it will require the trust to work with the NLHF and the various consultants appointed by the trust to bring forward a detailed RIA Stage 3 plan for all of the planned works. This should be fully costed so that the trust can agree with the NLHF the detailed procurement process that would be required to deliver the project. The NLHF also requires that the trust prepares a detailed Business Plan which will demonstrate that the trust can operate in a solvent manner with the new enhanced buildings and meet the requirements of staffing and community enhancement as set out in the Activity Plan.
The trust agreed to appoint Greg Bensberg to lead on this project and delegated to him the authority to manage the consultants and engage with the NLHF on behalf of the trust.
4
**The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Financial review**
From sources such as government funds as well as local councils to maintain the operations, retain jobs and secure the future enjoyment of the buildings. The charity’s financial position at the end of the reporting period, 31 December 2023, is funds totalling £152,157.
**VAT:** The trust applied to HMRC for VAT registration early in 2023. This is because the normal turnover for the trust is below the VAT threshold, it was expected that the increased funds for the Development phase of the Enhancement Project would take it above the threshold. The registration was approved and registered for VAT from the 1 April 2023.
## **Structure, governance and management**
The charity is registered as a Charitable Incorporated Organisation (CIO). Its only voting members are its trustees. It is governed through a Foundation Model constitution dated 8th May 2019. It was formed by splitting the Friends of Abingdon charity into this CIO and the Friends of Abingdon Civic Society. New trustees are appointed by nomination for a term of three years with regard to the skills, knowledge and experience necessary for the effective administration of the CIO. Trustees are eligible to be reappointed for two further three-year terms (i.e., appointment for a maximum of nine years). Decisions are taken either at a meeting of the trustees or by written resolution. Trustees may also delegate their powers to suitably constituted committees.
## **Staffing**
The previous Curator Margeret Minion left the trust in June 2023. The trust Secretary stood in for this role for a few months until a new Curator, Kate Hunt, was appointed in Sept 2023. Unlike the previous curators, Kate will not be living in the Checker Walk Cottage. A part time administrator, Fiona Van Galen, was appointed in November 2023 to support the financial administration of the trust’s accounts and will work closely with the curator to manage the booking and invoicing system for building hires.
5
**The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Reference and Administrative Details**
The Friends of Abingdon Abbey Building Trust is a Charitable Incorporated Organisation (CIO). The registered number is 1183398. The trustees will be presenting their financial statements rounded to the nearest £, sterling pound.
|Registered address|Abbey Buildings Trust|
|---|---|
||18 Thames Street|
||Abingdon|
||OX14 3HZ|
|Trustees who served during the reporting period and since are as follows;||
|Chief executive officer|G. Bensberg (appointed 24/08/2023 & chair 19/03/2024)|
||C. Birks (appointed 20/06/2023)|
||B .W.Brown (resigned as chair 19/03/2024)|
||M. Child (appointed 21/03/2023)|
||P. Connolly (appointed 02/12/2023)|
||G. Cole (appointed 19/09/2023)|
||M.Stevens|
||R.M.Thomas|
||R.A.Nichols|
||M. Castelletti (resigned 23/01/2024)|
||K.W.Senior (resigned_23/01/2024)_|
||V.Newing (resigned 01/04/2023)|
||J.P.Bryden (resigned 01/04/2023)|
||J.P.Mackintosh (resigned 04/01/2023)|
||A.J.McLeod (resigned 23/10/2023)|
|Independent|Stuart Bates FCA|
|Examiners|Wenn Townsend|
||Victoria House|
||10 Broad Street|
||Abingdon|
||OX14 3LH|
|Bankers|NatWest Bank|
||11 Market Place|
||Abingdon|
||OX14 3HH|
6
**The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Additional Disclosures**
## _Compliance with the SORP_
Abingdon Abbey Building Trust has generated its annual report and prepared accounts compliant and in accordance with the SORP 2019, both reporting and accounting recommendations of this SORP. Additional disclosures required by FRS102 have been added where deemed necessary by the trustees to always demonstrate a true and fair view. No departures from those required by either the SORP 2019 or FRS102 have been applied to these financial statements.
## _Reporting period_
The Friends of Abingdon Abbey Building Trust has prepared financial statements in 2019 that cover a shorter reporting period. The reason for this is that the charity was incorporated on 15th May 2019 and the annual reporting period was agreed by the trustees to be 31 December. These financial statements cover the year to 31 December 2023.
## _Exemptions_
The trustees have agreed that these financial statements are excluded from including comparative information as this is the first year. It also is not required to report a cashflow under the SORP 2019 or FRS102.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **Fund Accounting**
The charity does not hold any funds as custodian trustee on behalf of others.
The charity holds surplus from the charity's operations as unrestricted funds. Designated funds have been created to protect a generous donation left in memory of a member of the Friends of Abingdon charity. The spending from this fund is to be granted by the trustees where they regard the expenditure to be a special enhancement to the charity. Restricted funds currently being held have arrived from donations and grants pledged for the renovation project. The charity does not hold any other funds.
## **Trustees' Responsibilities**
The Trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom accounting standards (United Kingdom Generally Accepted Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give true and fair review of the state of affairs of the charity and of the incoming resources and application of resources for that period. In preparing these financial statements, the trustees are required to: **>** select suitable accounting policies and then apply them consistently.
**>** observe the methods and principles in the charities SORP 2019 (FRS102);
**>** make judgements and estimates that are reasonable and prudent;
**>** state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
**>** prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
7
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Trustees Responsibilities (continued)**
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Approval**
This Trustees’ Report, was approved by the board and signed on its behalf by;
Trustee, Gregory Bensberg MBE
Date:
8
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
## **Independent Examiner's Report to the Trustees of The Friends of Abingdon Abbey Building Trust.**
I report to the charity trustees on my examination of the accounts of the charity for the period ended 31 December 2023 which are set out on pages 10 to 19.
## **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 application requirements concerning the form and content of accounts set out in the Charities 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 matter in connection with the examination to which attentions should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Stuart Bates FCA Wenn Townsend Victoria House Abingdon OX14 3LH
…………….. 2024
9
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Statement of Financial Activities**
|**Note**
**Income resources**
Donations and legacies
Charities activities
Grants
Other trading activities
**Total 3**
**Resources Expended**
Raising funds
Charitable activities
Other trading activities
**Total 4**
Net income/(expenditure)
Transfer between funds
**Net movement in funds**
**Reconciliation of funds**
Total funds bought forward
Net movement in funds
**Total funds carried**
**forward**
**11**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total**
**2023**
**Total**
**2022**
**£**
**£**
**£**
**£**
**£**
1,817
-
-
1,817
1,731
13,829
-
-
13,829
40,110
-
183,865
-
183,865
10,327
11,341
-
-
11,341
28,287
**26,987**
**183,865**
**-**
**210,852**
**80,455**
-
-
-
-
3,926
73,702
124,900
-
198,602
46,496
12,962
-
-
12,962
18,121
**86,664**
124,900
**-**
**211,564**
**68,543**
(59,677)
58,965
-
(712)
11,912
-
-
-
-
-
**(59,677)**
**58,965**
**-**
**(712)**
**11,912**
129,273
22,301
1,295
152,869
140,957
(59,677)
58,965
-
(712)
11,912
**69,596**
**81,266**
**1,295**
**152,157**
**152,869**|
|---|---|
10
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Comparative Statement of Financial Activities**
|**Note**
**Income resources**
Donations and legacies
Charities activities
Grants
Other trading activities
**Total**
**Resources Expended**
Raising funds
Charitable activities
Other trading activities
**Total**
Net income/(expenditure)
Transfer between funds
**Net movement in funds**
**Reconciliation of funds**
Total funds bought forward
Net movement in funds
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total**
**2022**
**£**
**£**
**£**
**£**|
|---|---|
||1,731
-
-
1,731
40,110
-
-
40,110
9,327
1,000
-
10,327
28,287
-
-
28,287|
||**79,445**
**1,000**
**-**
**80,455**
3,926
-
-
3,926
44,334
2,162
-
46,496
18,121
-
-
18,121|
||**66,381**
**2,162**
**-**
**68,543**
13,074
(1,162)
-
11,912
(1,162)
1,162
-
-|
||**11,912**
**-**
**-**
**11,912**
117,361
22,301
1,295
140,957
11,912
-
-
11,912|
||**129,273**
**22,301**
**1,295**
**152,869**|
11
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023**
## **Charity Number 1183398 Balance Sheet**
|**Notes**
**Fixed Assets**
Heritage Assets
**14**
**Current assets**
Stocks
**7**
Debtors
**8**
Cash at bank and in hand
**10**
**Total current assets**
**Current Liabilities**
Creditors failing due within
one year
**9**
**Net current assets**
**Total net assets**
**Funds of the Charity**
**11**
Designated funds
Restricted funds
Unrestricted funds
**Total funds**|**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total**
**2023**
**Total**
**2022**
£
£
£
£
£|
|---|---|
||-
1
-
1
1
700
-
-
700
700
40,993
43,971
-
84,964
20,816
53,870
37,294
1,295
92,459 137,065|
||**95,563**
**81,265**
**1,295**
**178,123 158,582**
(25,967)
-
- (25,967)
(5,713)|
||**69,596**
**81,265**
**1,295**
**152,156 152,869**|
||**69,596**
**81,266**
**1,295**
**152,157 152,869**|
||-
-
1,295
1,295
1,295
81,266
-
81,266
22,301
69,596
-
-
69,596 129,273|
||**69,596**
**81,266**
**1,295**
**152,157 152,869**|
Signed by Gregory Bensberg MBE on behalf of all the trustees
## Date
12
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398**
## **Notes**
## **Note 1. Basis of preparation**
## **Basis of accounting**
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 (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and applicable regulations. The accounts have been prepared under the historical cost convention with the exception of fixed assets included at revalued amounts.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
The Friends of Abingdon Abbey Building Trust is a charity in England and Wales. The address of the registered office is given in the charity information on page 6 of these financial statements.
The charity’s main purpose is that of a public benefit entity.
## **Going concern**
The trustees have assessed whether the use of going concern is appropriate and have concluded there are not any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the trust has adequate reserves to continue in operational existence for the foreseeable future and there are no material uncertainties about the trust’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Trust policy on reserves**
The trust has agreed that the reserves should be primarily maintained to ensure that the trust can continue as a going concern, and therefore that a minimum of 3 months operating expenditure should be maintained as a minimum reserve. The remaining reserves are to be deployed at the discretion of the trust, but priority will be given to supporting the delivery for the enhancement project for the next three years.
## **Note 2. Accounting policies**
## **Recognition of income**
These are included in the Statement of Financial Activities (SOFA) when:
- the charity becomes entitled to the resources
- it is more likely than not that the trustees will receive the resources; and
- the monetary value can be measured with sufficient reliability.
## **Grants and donations**
Grants and donations are only included in the SOFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
## **Volunteer help**
13
**The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398**
## **Notes**
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
## **Note 2. Accounting policies (continued)**
## **Governance and support costs**
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
## **Heritage Assets**
Heritage Assets are valued using detailed historical cost, information regarding the price or value of the property is not available and so a value of £1 has been attributed to the property asset for accounting purposes.
## **Stocks and work in progress**
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value.
## **Debtors**
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
## **Liability recognition**
Liabilities are recognised where it is more likely than not, that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## **Creditors**
The charity has creditors which are measured at settlement amounts.
## **Note 3. Analysis of income**
|**Donations and legacies**
Donations and gifts
**Total**
**Charitable activities**
Building Hire
**Total**
**Grants Received**|**2023**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total Funds**
**£**
**£**
**£**
**£**|
|---|---|
||1,817
-
-
1,817|
||**1,817**
**-**
**-**
**1,817**
13,829
-
-
13,829|
||**13,829**
**-**
**-**
**13,829**|
14
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398**
## **Notes**
||**Year ended 31 December 2023**
**Charity Number 1183398**
**Notes**|
|---|---|
|Charity projects
**Total**
**Other trading activities**
Fundraising events
**Total**
**Total Income**|-
183,865
-
183,865|
||**-**
**183,865**
**-**
**183,865**
11,341
-
-
11,341
**11,341**
-
**-**
**11,341**|
||**26,987**
**183,865**
**-**
**210,852**|
## **Note 3. Analysis of income (continued)**
**2022**
|**ote 3. Analysis of income (continued)**
**2022**|**continued)**
**2022**|**continued)**
**2022**|
|---|---|---|
|**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total Funds**
**£**
**£**
**£**
**£**
**Donations and legacies**
Donations and gifts
1,731
-
-
1,731
**Total**
**1,731**
**-**
**-**
**1,731**
**Charitable activities**
Building Hire
40,110
-
-
40,110
**Total**
**40,110**
**-**
**-**
**40,110**
**Grants Received**
Emergency
9,327
-
-
9,237
Renovation
-
-
-
-
Charity projects
-
1,000
-
1,000
**Total**
**9,327**
**1,000**
**-**
**10,327**
**Other trading activities**
Fundraising events
28,287
-
-
28,287
**Total**
**28,287**
**-**
**-**
**28,287**
**Total Income**
**79,455**
**1,000**
**-**
**80,455**
**ote 4. Analysis of expenditure**
**2023**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total**
**Funds**
**£**
**£**
**£**
**£**
**Expenditure on raising**
Professional fees
-
-
-
-
**Total expenditure on charitable**
**activities**
**-**
**-**
**-**
**-**
**Expenditure on charitable**
**activities**
Fundraising events
33,946
124,900
-
158,846
Operating costs
39,756
-
39,756|**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total Funds**
**£**
**£**
**£**
**£**||
|||1,731
-
-
1,731|
|||**1,731**
**-**
**-**
**1,731**
40,110
-
-
40,110|
|||**40,110**
**-**
**-**
**40,110**
9,327
-
-
9,237
-
-
-
-
-
1,000
-
1,000|
|||**9,327**
**1,000**
**-**
**10,327**
28,287
-
-
28,287|
|||**28,287**
**-**
**-**
**28,287**|
|||**79,455**
**1,000**
**-**
**80,455**
**2023**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total**
**Funds**
**£**
**£**
**£**
**£**|
|||-
-
-
-|
|||**-**
**-**
**-**
**-**
33,946
124,900
-
158,846
39,756
-
39,756|
## **Note 4. Analysis of expenditure**
15
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398**
|**Total expenditure on charitable**
**activities**
**Expenditure on other trading**
**activities**
**Total expenditure**|**Notes**|
|---|---|
||**73,702**
**124,900**
**-**
**198,602**
12,962
-
-
12,962|
||**86,664**
**124,900**
**-**
**211,564**|
## **Note 4. Analysis of expenditure (continued)**
|**Expenditure on raising**
Professional fees
**Total expenditure on charitable**
**activities**
**Expenditure on charitable**
**activities**
Fundraising events
Merchandise costs
Miscellaneous costs
Operating costs
**Total expenditure on charitable**
**activities**
**Expenditure on other trading**
**activities**
**Total expenditure**
**Note 5. Staff costs**
**Total Salaries and Wages**
Average head count|**2022**
**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**Total**
**Funds**
**£**
**£**
**£**
**£**|
|---|---|
||3,926
-
-
3,926|
||**3,926**
**-**
**-**
**3,926**
17,277
2,162
-
19,439
-
-
-
-
490
-
-
490
26,567
-
-
26,567|
||**44,334**
**2,162**
**-**
**46,496**
**18,121**
**-**
**-**
**18,121**|
||**66,380**
**2,162**
**-**
**68,542**
**2023**
**2022**
**£**
**£**
10,685
10,879
1
1|
During 2023 no employees (2022; No employees) received employee benefits (excluding employer pension costs for the reporting period of more than £60,000
## **Note 6. Independent Examiners Remuneration**
|Independent examination Fee
Other services|**2023**
**2022**
**£**
**£**|
|---|---|
||700
618
800
-|
16
The Friends of Abingdon Abbey BuildingTrust
Year ended 31 December 2023
Charity Number 1183398
Notes
Total
1,500
618
17
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398**
## **Notes**
## **Note 7. Stocks**
|**Note 7. Stocks**|**Note 7. Stocks**|||
|---|---|---|---|
|**2023**
**2022**
**Charitable activities**
**£**
**£**
Stocks held at 01.01.2023
700
700
Added in period
-
-
Expensed in period
-
-
Impaired
-
-
**Total held at 31.12.2023**
**700**
**700**
**Note 8. Debtors and prepayments.**
**2023**
**2022**
**£**
**£**
Trade debtors
10,463
20,269
Prepayment
7,401
-
Other debtors
67,100
547
**Total**
**84,964**
**20,816**
**Note 9. Creditors and accruals**
**2023**
**2022**
**Amounts falling due within one year**
**£**
**£**
Trade creditors
14,009
1,544
Other creditors
11,958
4,169
**Total**
**25,967**
**5,713**
**Note 10. Cash at bank and in hand**
**2023**
**2022**
**£**
Cash at bank
**92,459**
**137,065**
**Note 11. Charity funds**
**2023**
**Fund**
**balances**
**01.01.2023**
**Income**
**Expenditure**
**Transfers**
**Fund**
**balances**
**31.12.2023**
General unrestricted
funds
129,273
26,987
(86,664)
-
69,596
Restricted funds
22,301
183,865
(124,900)
-
81,266
Designated funds
1,295
-
-
-
1,295
**Total funds**
**152,869**
**210,852**
**(211,564)**
**-**
**152,157**
**2022**
**Fund**
**balances**
**01.01.2022**
**Income**
**Expenditure**
**Transfers**
**Fund**
**balances**
**31.12.2022**
General unrestricted
funds
117,361
79,455
(66,381)
(1,162)
129,274
Restricted funds
22,301
1,000
(2,162)
1,162
22,301
Designated funds
1,295
-
-
-
1,295
**Total funds**
**140,957**
**80,455**
**(68,543)**
**-**
**152,869**|||**2023**
**2022**
**£**
**£**
700
700
-
-
-
-
-
-
**700**
**700**
**2023**
**2022**
**£**
**£**|
||||10,463
20,269
7,401
-
67,100
547|
||||**84,964**
**20,816**
**2023**
**2022**
**£**
**£**|
||||14,009
1,544
11,958
4,169|
||||**25,967**
**5,713**
**2023**
**2022**
**£**|
||129,273
26,987
(86,664)
-
69,596
22,301
183,865
(124,900)
-
81,266
1,295
-
-
-
1,295|||
||**152,869**
**210,852**
**(211,564)**
**-**
**152,157**
**2022**
**Fund**
**balances**
**01.01.2022**
**Income**
**Expenditure**
**Transfers**
**Fund**
**balances**
**31.12.2022**|||
||117,361
79,455
(66,381)
(1,162)
129,274
22,301
1,000
(2,162)
1,162
22,301
1,295
-
-
-
1,295|||
||**140,957**
**80,455**
**(68,543)**
**-**
**152,869**|||
18
## **The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398**
## **Notes**
## **Note 11. Charity funds (continued)**
|**Fund balances at 31st December**
**2023 are represented by:**
Tangible fixed assets
Current assets
Current liabilities
**Fund balances at 31st December**
**2022 are represented by:**
Tangible fixed assets
Current assets
Current liabilities|Unrestricted
Reserves
Restricted
Reserves
Designated
Reserves
Total
£
£
£
£
-
1
-
1
95,563
81,265
1,295
178,123
(25,967)
-
-
(25,967)|
|---|---|
||69,596
81,266
1,295
152,157|
||Unrestricted
Reserves
Restricted
Reserves
Designated
Reserves
Total
£
£
£
£
-
1
-
1
134,986
22,300
1,295
158,581
(5,713)
-
-
(5,713)|
||129,273
22,301
1,295
152,869|
## **Note 12. Summary of funds;** _Restricted (RF), Designated (DF)_
These contributions were made towards the Development phase of the Enhancement Project in 2023.
|**Fund**|**Purpose of fund**|**Purpose of fund**|||
|---|---|---|---|---|
|NLHF (RF)|A
grant
to|
support
the|Enhancement|Project|
||(development|phase) £80,221|||
|Abingdon Town Council (RF)|A
grant
to|
support
the|Enhancement|Project|
||(development|phase) £25,000|||
|Architectural Heritage Fund (RF)|A
grant
to|
support
the|Enhancement|Project|
||(development|phase) £12,672|||
|Pilgrim Trust (RF)|A
grant
to|
support
the|Enhancement|Project|
||(development|phase) £10,000|||
## **Note 13. Transactions with trustees and related parties**
Trustee remuneration and benefits
In 2023 no trustees (2022; no trustees) have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
19
**The Friends of Abingdon Abbey Building Trust Year ended 31 December 2023 Charity Number 1183398 Notes**
## Trustee expenses
In 2023 no trustees (2022; no trustees) expenses have been incurred in capacity of performing their duties or attending meetings nor was any reimbursed during the year.
## Transactions with related parties
In 2023 there have been no (2022; none) related party transactions in the reporting period.
## **Note 14. Heritage Asset**
During the special meeting held in 2019 on separating the existing charity (The Friends of Abingdon No. 225880) as described in detail in the trustee report, the responsibility and maintenance of The Abingdon Abbey Buildings was transferred to the trust. The Friends of Abingdon Abbey Building Trust has been registered as holding the legal title at land registry as at 27th February 2021. The Heritage Asset accounting standard provides guidance on how to attribute a cost value, when to recognise such an asset along with the future treatment. It was agreed by the trustees that a realistic value is unattainable due to the age of the buildings and very little documentation from such time. It was decided that a market value would not benefit the users of the financial statements. Therefore, as the transfer agreement stated the value of £1 would be used within the accounts until another suitable value could be placed on the buildings, and the trustees will review annually and update accordingly.
|The Abbey Buildings Cost|**2023**
**2022**
**£**
**£**|
|---|---|
||1
1|
20