Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
REPORT AND FINANCIAL STATEMENTS
31 December 2024
Charity no: 1187090
Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
| C O N T E N T S | |
|---|---|
| Page | |
| TRUSTEES’ ANNUAL REPORT | 1 - 5 |
| INDEPENDENT EXAMINER’S REPORT | 6 |
| STATEMENT OF FINANCIAL ACTIVITIES | 7 |
| BALANCE SHEET | 8 |
| NOTES TO THE FINANCIAL STATEMENTS | 9-16 |
Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
TRUSTEES ANNUAL REPORT
The Trustees present their Annual Report and the unaudited financial statements of The Tewkesbury Abbey Foundation for the year ended 31 December 2024.
The Trustees adopted the provisions of the Standard of Recommended Practice for Charities (Charities SORP) in preparing the annual report and financial statements for the foundation.
CONSTITUTION
The Tewkesbury Abbey Foundation (Charity) is constituted by a Governing Document dated 18 October 2019.
The Charity is a Charitable Incorporated Organisation (CIO) registered with the Charity Commission on 19 December 2019 (registration number: 1187090).
The address of the Charity is Abbey Office, Church Street, Tewkesbury, Gloucestershire, GL20 5RZ.
AIMS AND OBJECTIVES
The object of the Charity is to support Tewkesbury Abbey in the fulfilment of the Abbey’s objectives which are:
Mission and Ministry
To advance the Christian faith in Tewkesbury and the surrounding area for the benefit of the public by empowering Tewkesbury Abbey as a centre of effective Christian mission, ministry and liturgy.
Music and Liturgy
To promote the arts for the benefit of the public in Tewkesbury and the surrounding area by upholding Tewkesbury Abbey as a centre of excellence in music and sung liturgy.
Maintenance and Development
To preserve and maintain Tewkesbury Abbey and its associated buildings for the public benefit, by ensuring that development projects to preserve Tewkesbury Abbey for posterity are adequately funded.
PRINCIPAL ACTIVITIES AND PUBLIC BENEFIT
The main activities of Charity are to:
-
Manage a programme of fundraising to provide income to support the aims and objectives of the charity; and
-
Awarding of grants to organisations to support the aims and objectives of the charity
The Trustees are aware of the public benefit provisions of the Charities Act 2011 and of the guidance on them published by the Charities Commission. They are satisfied that the objectives of the Charity and the activities of the Charity are within the definitions of charitable purposes as set down in the Act.
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THE TEWKESBURY ABBEY FOUNDATION
TRUSTEES ANNUAL REPORT (continued)
TRUSTEES
The Trustees of the Charity for the year to 31 December 2024 and those who approved this report are detailed below:
| John Jeffreys | Trustee (served until his death on 30 October 2024) |
|---|---|
| Chairman | |
| Paul Hunston, | Trustee |
| Secretary | |
| Paul Charman | Trustee |
| Janet Davis | Trustee (ex officio) |
| Treasurer of Tewkesbury Abbey (resigned 17 June 2025) | |
| John Painter | Trustee |
| Treasurer | |
| Simon Chorley | Trustees |
| Rev, Canon Nicholas | Trustee (ex officio) |
| Duff Davies | Vicar of |
| Tewkesbury Abbey |
All Trustees give their time voluntarily and receive no remuneration or other benefits.
The Trustees are sad to note the death on 30 October 2024 of John Jeffries who had been instrumental in the development of the Foundation for many years.
AGENTS AND ADVISERS
The agents and advisers to the Charity are:
| Bankers: | CAF Bank |
|---|---|
| 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ | |
| Accountants: | Hazlewoods LLP |
| Staverton Court, Cheltenham, GL51 0UX | |
| Stockbrokers: | Ruffer LLP |
| 80 Victoria Street, London, SW1E 5JL | |
| Cazenove | |
| 1 London Wall Place, London, EC2Y 5AU |
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
TRUSTEES ANNUAL REPORT (continued)
MANAGEMENT AND GOVERNANCE ARRANGEMENTS
The Governing Document of Charity (approved 18 October 2019) allows for up to twelve Trustees:
-
Six Appointed Trustees (appointed by a resolution passed at a meeting of the charity trustees)
-
Two ex officio Trustees: the Vicar and a Church Warden of Tewkesbury Abbey; and
-
Four Nominated Trustees (appointed by the charity trustees for a term of four years)
The Trustees are responsible for developing a co-ordinated, strategic, long-term and efficient approach to fund-raising and fund-management and to develop an effective approach to looking after donors, planning and publicising events and exploring external sources of finance such as charitable trust, public sector grant and corporate bodies.
The Trustees have overall responsibility for ensuring the charity has in place appropriate systems and controls, both financial and operational, and they are responsible for the strategic direction of the charity.
During the period from 1 January 2024 to 31 December 2024, the Trustees met 5 times. At each Trustee meeting the latest financial position is shared, together with progress against key strategic objectives.
RECRUITMENT AND APPOINTMENT OF NEW TRUSTEES
New Trustees will be briefed on their legal obligations in line with charity law and the obligations placed on them by the objects. The decision-making processes, business plan and recent financial performance of the Charity will also be covered when inducting new Trustees.
PROCEDURES AND POLICY FOR GRANT MAKING
The trustees have sole discretion in the selection of applicants and the size of the awards. They have discretion to grant funds and in particular grants, scholarships, exhaustions, and stipends to support music, education, mission, ministry, liturgy and maintenance at Tewkesbury Abbey.
GRANT-MAKING
The Trustees of the Charity awarded grants of £129,819 in 2024 (2023 - £110,223) to support the mission, ministry, music and liturgy at Tewkesbury Abbey as follows;
Dean Close Foundation: a grant of £29,819 (2023 - £47,731) to support chorister scholarships for Schola Cantorum
Tewkesbury Abbey PCC: a grant of £35,000 (2023 - £21,349) to support the mission and ministry at Celebrate and £65,000 (2023 - £41,144) to support music in the Abbey.
ACHIEVEMENTS AND PERFORMANCE
The main achievements for the period include:
-
Successful applications for grants to support Tewkesbury Abbey and the Charity
-
Making grants to Dean Close Foundation and Tewkesbury Abbey PCC to support the objectives of the Charity and the ministry, mission, liturgy and music at Tewkesbury Abbey
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
TRUSTEES ANNUAL REPORT (continued)
FUNDRAISING
The main fundraising activities during the period included:
-
Applying for grants to support the objectives of the Charity and Tewkesbury Abbey
-
Securing donations from individual and corporate donors
FINANCIAL REVIEW
The Charity’s total resources at the end of the year 31 December 2024 amounted to £775,364 (31 December 2023 - £849,332)
The Charity’s total income for the period was £104,713 (2023 - £43,743).
The Charity’s total expenditure for the period for was £136,057 (2023 - £126,641) which included grants of £129,819 (2023 - £110,223) to support Tewkesbury Abbey and the objectives of the Charity.
RESERVES
The level of the reserves is determined by the long-term funding requirements to support the objectives of the charity and Tewkesbury Abbey. The Trustees shall ensure that the minimum level of reserves shall cover the funding commitments and governance costs for any future period of 3 years. The current reserves at 31 December 2024 of £775,364 (2023 - £849,332) are above the minimum level of reserves required by Trustees.
INVESTMENT POLICY
The investment objective of the charity is to maintain the real value of the invested funds whilst, at the same time, ensuring that income returns are maximised to provide long-term income to support objectives of the Charity and Tewkesbury Abbey.
The Trustees have agreed to invest the majority of the Charity’s funds and reserves in two separate funds at Cazenove and Ruffer to maintain the real value of the invested funds and provide an annual income.
PLANS FOR FUTURE PERIODS
The Trustee’s plans for future periods continue to include:
-
Increasing fundraising activities to generate new income to support the objectives of the Charity and Tewkesbury Abbey
-
Developing and implementing a longer term fundraising programme to support the mission, ministry, music and liturgy at Tewkesbury Abbey
-
Working collaboratively with the Abbey PCC and the Friends of Tewkesbury Abbey on fundraising
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
TRUSTEES ANNUAL REPORT (continued)
TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The trustees are responsible for preparing the Trustee’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity 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;
-
Make judgements and accounting 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, and
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. 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.
STATEMENT AS TO DISCLOSURE TO OUR INDEPENDENT EXAMINER
The Trustees confirm that, so far as they are aware at the time of approving the Trustees’ annual report:
-
There is no relevant information, being information needed by the independent examiner in connection with preparing their report, of which the independent examiner is unaware.
-
They have taken all the steps that they ought to have taken to make themselves aware of any relevant independent examination information and to establish that the independent examiner is aware of that information.
By order of the Board of Trustees
………………………….
J H Painter – Treasurer
28/10/2025
Date: ………………….
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE TEWKESBURY ABBEY FOUNDATION ON THE UNAUDITED FINANCIAL STATEMENTS
I report on the unaudited financial statements of The Tewkesbury Abbey Foundation for the year ended 31 December 2024, which are set out below.
Respective responsibilities of the Trustees and Examiner
The Charity’s Trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The Trustees consider that an audit is not required for this year (under section 144 of the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the financial statements (under section 145 of the 2011 Act);
-
follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
-
state whether particular matters have come to my attention.
Independent examiners’ statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:
-
The accounting records were not kept in accordance with section 130 of the 2011 Act; or
-
the financial statements do not accord with such records; or
-
the financial statements did not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Charities SORP (FRS102).
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 financial statements to be reached.
28/10/2025 …………………………………… …………………………………… Scott Lawrence FCA Date HAZLEWOODS LLP Staverton Court Staverton Cheltenham GL51 0UX
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2024
| Note INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities 4 Investments 5 TOTAL INCOME EXPENDITURE ON Raising funds 7 Charitable activities 8 TOTAL EXPENDITURE NET (LOSS)/INCOME BEFORE INVESTMENT (LOSSES)/GAINS Unrealised (loss)/gain on revaluation of investments Realised gain on sale of investments NET (LOSS)/INCOME Transfers between funds NET MOVEMENT IN FUNDS TOTAL FUNDS BROUGHT FORWARD TOTAL FUNDS CARRIED FORWARD |
Unrestricted Funds £ - - 1,004 1,004 - 2,675 2,675 (1,671) - - (1,671) - (1,671) 5,813 4,142 |
Restricted Funds £ 15,731 - 87,978 103,709 1,213 151,194 152,407 (48,698) (60,459) 17,835 (91,322) - (91,322) 843,519 752,197 |
Total 2024 £ 15,731 - 88,982 104,713 1,213 153,869 155,082 (50,369) (60,459) 17,385 (92,993) - (92,993) 849,332 756,339 |
2023 £ 12,979 1,166 29,598 |
|---|---|---|---|---|
| 43,743 | ||||
| 8,981 117,660 |
||||
| 126,641 | ||||
| (82,898) (33,876) 2,113 |
||||
| (114,661) | ||||
| - (114,661) 963,993 |
||||
| 849,332 |
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the period.
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION – charity number 1187090
BALANCE SHEET
31 December 2024
| Note FIXED ASSETS Investments 10 CURRENT ASSETS Debtors 11 Cash at bank CREDITORS – due within one year 12 NET CURRENT ASSETS NET ASSETS REPRESENTED BY: FUNDS Restricted funds 13/14 Unrestricted funds 13/14 |
2024 £ 727,747 5,420 77,949 83,369 (54,777) 28,592 756,339 752,197 4,142 756,339 |
2023 £ 852,799 5,420 42,629 48,049 (51,516) (3,467) 849,332 843,519 5,813 849,332 |
|---|---|---|
We approve these financial statements and confirm that we have made available all records and information for their preparation.
………………………….
J H Painter – Treasurer, on behalf of the Board
28/10/2025
Date: ………………….
The notes on pages 9 to 16 form part of these financial statements.
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
1 ACCOUNTING POLICIES
The financial statements are prepared under the historical cost convention (as modified by the revaluation of investments) adopting the following principal accounting policies, all of which are in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Charity constitutes a public benefit entity as defined by FRS 102.
Going Concern
The Trustees have reviewed the financial statements as well as the charity’s budgets, plans for 2025 and beyond and its reserves position up to the date of signing off these financial statements.
The Trustees are fully confident that the charity should be considered as a going concern.
Incoming Resources
Donations, gifts and legacies represent amounts received during the year, together with any associated tax refund. Gifts in kind for use by the Charity are recognised as incoming resources when receivable at a reasonable estimate of their value. Assets given for distribution are only recognised when distributed.
Grants receivable for specific purposes are credited to the statement of financial activities in the year to which they relate as soon as conditions for receipt have been met. Unspent balances are carried forward to subsequent years within restricted funds.
Grants for immediate financial support, or received against costs previously incurred are recognised immediately in the Statement of Financial Activities. Voluntary income is shown gross before deduction of fund-raising expenditure.
Grants Payable
Grant expenditure is recognised only when the grants become payable.
Resources Expended
All expenditure is accounted for under the accruals concept. The irrecoverable element of Value Added Tax is included within the item of expense to which it relates.
The only resources expended by the Charity are grants and governance costs and there is therefore no requirement for any apportionment of resources expended.
Funds
General unrestricted funds comprise accumulated surpluses and deficits on general activities. They are available for use at the discretion of the Trustees in furtherance of the Charity’s objectives.
Restricted funds are funds subject to specific conditions imposed by the donor(s).
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
Investments
Investments listed on a recognised stock exchange are stated at mid market value in the balance sheet. All movements in value arising from changes and revaluations are included in the Statement of Financial Activities. Unlisted investments are shown at cost unless there is a permanent diminution in value.
2 EMPLOYEES AND TRUSTEES REMUNERATION AND EXPENSES
----- Start of picture text -----
2024 2023
£ £
Wages and salaries - 7,772
Other staff costs - -
- 7,772
----- End of picture text -----
No employee received emoluments of more than £60,000 (2023: none).
No remuneration directly or indirectly out of the funds of the Charity was paid or payable for the period to any Trustee or to any person or persons known to be connected with any Trustee.
No reimbursement of expenses has been made or is due to be made to any of the Trustees in respect of the period.
Number of employees
The average monthly number of employees in the year was 0 (2023: 1).
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
3 INCOME FROM DONATIONS AND LEGACIES
| Individual donations Grants received |
Unrestricted Funds £ - - - |
Restricted Choral Scholarship Fund £ 8,631 7,000 15,631 |
Restricted Parish Trust Fund £ 100 - - |
Total 2024 £ 8,731 7,000 15,731 |
2023 £ 5,979 7,000 |
|---|---|---|---|---|---|
| 12,979 |
Of the total income from donations of £12,979 in 2023, £10,941 related to restricted funds with the remaining £2,038 relating to unrestricted funds.
4 INCOME FROM CHARITABLE ACTIVITIES
| Carol services and concerts | Unrestricted Funds £ - - |
Restricted Choral Scholarship Fund £ - - |
Restricted Parish Trust Fund £ - - |
Total 2024 £ - - |
2023 £ 1,166 |
|---|---|---|---|---|---|
| 1,166 |
Of the total income from charitable activities of £1,166 in 2023, £Nil related to restricted funds with the remaining £1,166 relating to unrestricted funds.
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
5 INVESTMENT INCOME
| Bank interest Investment Income |
Unrestricted Funds £ 1,004 - 1,004 |
Restricted Choral Scholarship Fund £ 1,308 84,743 86,051 |
Restricted Parish Trust Fund £ - 1,927 1,927 |
Total 2024 £ 2,312 86,670 88,982 |
2023 £ 1,756 27,843 |
|---|---|---|---|---|---|
| 29,598 |
Of the total investment income of £29,598 in 2023, £27,843 related to restricted funds with the remaining £650 relating to unrestricted funds.
6 DEFICIT ON ORDINARY ACTIVITIES
Deficit on ordinary activities is stated after charging:
Independent examiners remuneration
| 2024 | 2023 |
|---|---|
| £ | £ |
| 2,424 | 2,280 |
7 EXPENDITURE ON RAISING FUNDS
| Fundraising manager salary and expenses Portfolio management fees |
Unrestricted Funds £ - - |
Restricted Choral Scholarship Fund £ - 1,213 1,213 |
Restricted Parish Trust Fund £ - - - |
Total 2024 £ - 1,213 1,213 |
2023 £ 7,772 1,209 |
|---|---|---|---|---|---|
| - | 8,981 |
Of the total expenditure on raising funds of £8,981 in 2023, £5,872 related to restricted funds with the remaining £3,109 relating to unrestricted funds.
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
8 EXPENDITURE ON CHARITABLE ACTIVITIES
| Chorister scholarships Dean Close School Tewkesbury Abbey costs Celebrate costs Support costs |
Unrestricted Funds £ - - - 2,675 2,675 |
Restricted Choral Scholarship Fund £ 48,847 67,000 - 350 117,407 |
Restricted Parish Trust Fund £ - - 35,000 - 35,000 |
Total 2024 £ 48,847 67,000 35,000 3,025 155,082 |
2023 £ 47,731 40,596 21,349 7,984 |
|---|---|---|---|---|---|
| 117,660 |
Of the total expenditure on charitable activities of £117,660 in 2023, £110,223 related to restricted funds with the remaining £7,437 relating to unrestricted funds.
9 SUPPORT COSTS
| Bank charges Accountancy Insurance ICO Office costs Craig Paul Design EE – Overdue balance Zimprint 50thAnniversary Room hire |
Unrestricted Funds £ 62 1,715 605 35 - 78 - - 180 - 2,675 |
Restricted Choral Scholarship Fund £ - - - - - - - - - 350 350 |
Restricted Parish Trust Fund £ - - - - - - - - - - - |
Total 2024 £ 62 1,715 605 35 - 78 - - 180 350 3,025 |
2023 £ 60 2,875 574 35 2,764 960 601 48 67 - |
|---|---|---|---|---|---|
| 7,984 |
Support costs are allocated 50/50 between fundraising costs and charitable activities. Of the total expenditure on support costs of £7,984 in 2023, £Nil related to restricted funds with the remaining £7,984 relating to unrestricted funds.
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
10 INVESTMENTS
| Market value at 1 January 2024 Additions Disposal proceeds Income reinvested Net unrealised loss on revaluation of investments Net realised gain on disposals Market value at 31 December 2024 Historical cost at 31 December 2024 |
Listed Securities £ 852,799 71,067 (153,495) - (60,459) 17,835 |
|---|---|
| 727,747 | |
| 701,683 |
All investments are carried at their market value. Investments in equities, fixed interest securities and investment trusts are all traded in quoted public markets, primarily the London Stock Exchange. All of the investments above relate to listed investments.
11 DEBTORS
| DEBTORS | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Gift Aid recoverable | 5,420 | 5,420 |
12 CREDITORS - due within one year
| CREDITORS - due within one year | ||
|---|---|---|
| 2024 | 2023 |
|
| £ | £ |
|
| Accrued expenses | 54,777 | 53,600 |
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
13 STATEMENT OF MOVEMENTS ON FUNDS
2024:
2023:
| Funds brought forward Incoming resources Outgoing resource (Losses) and gains Funds carried forward Funds brought forward Incoming resources Outgoing resource Gains and (losses) Funds carried forward |
Unrestricted Funds £ 5,813 1,004 (2,675) - 4,142 Unrestricted Funds £ 12,505 3,854 (10,545) - 5,813 |
Restricted Choral Scholarship Fund £ 718,901 101,682 (117,407) (43,213) 659,964 Restricted Choral Scholarship Fund £ 809,212 38,136 (94,747) (33,701) 718,901 |
Restricted Parish Trust Fund £ 124,617 2,027 (35,000) 589 92,233 Restricted Parish Trust Fund £ 142,276 1,753 (21,349) 1,938 124,617 |
Total £ 849,332 104,713 (155,082) (42,624) |
|---|---|---|---|---|
| 756,339 | ||||
| Total £ 963,993 43,743 (126,641) (31,763) |
||||
| 849,332 |
The Choral Scholarship Fund supports the music at Tewkesbury Abbey. The Parish Trust Fund supports the advancement of religious education and the mental, moral, spiritual and physical development of young people in the parish of Tewkesbury Abbey.
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Docusign Envelope ID: 82782A93-975C-4934-8D6C-A972927B4822
THE TEWKESBURY ABBEY FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2024
13 ANALYSIS OF NET ASSETS BY FUND
2024:
| Investments Debtors Cash at bank Creditors |
Unrestricted Funds £ - 5,420 81 (1,359) 4,142 |
Restricted Choral Scholarship Fund £ 681,874 - 31,508 (53,418) 659,964 |
Restricted Parish Trust Fund £ 45,873 - 46,360 - 92,233 |
Total £ 727,747 5,420 77,949 (54,777) |
|---|---|---|---|---|
| 756,339 |
2023:
| Investments Debtors Cash at bank Creditors |
Unrestricted Funds £ - 5,420 3,816 (3,423) 5,813 |
Restricted Choral Scholarship Fund £ 809,443 - (50,877) (39,665) 718,901 |
Restricted Parish Trust Fund £ 43,357 - 89,689 (8,429) 124,617 |
Total £ 852,799 5,420 42,629 (51,516) |
|---|---|---|---|---|
| 849,332 |
14 RELATED PARTY TRANSACTIONS
During the period, Tewkesbury Abbey Foundation made grants of £35,000 (2023: £21,349) to Tewkesbury Abbey PCC. John Jeffreys, Paul Charman, Janet Davis and Rev, Canon Nicholas Duff Davies were/are Trustees of both Tewkesbury Abbey Foundation and Tewkesbury Abbey PCC.
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