CHARITY COMMISION
CARtMEL
PRIOFIY
ANCIENT JEWEL- LIVING CHURCH
Cartmel Priory Trust CIO
Reglstr•llon number.. 1197202
Annual Report and Flnanclal
Statoments
31 December 2024
dOdd&co

Cartmel Prlary Trust CIO
Contents
R8feTence and Admini$tr8tN8 Details
TnJstè•s' report
Trustees. respo￿[bIl￿•S
Independont &xamlnetrs report
Statom8nt of fina￿la1 activities
Balance Sheet
Notss to th8 finamal statem&nls

Cartm•l Priory Trust CIO
R•feren¢è and Administrative Detalls
Charlty nam•
Cartmel Priory Trust CIO
Charlty registralion number
1197202
Prfndpal b>ffl¢•
The Wi¢arage
Pfiest Lane
Cartrn•l
GRANGEQVER-SANDS
LA116PU
Reglstered offi¢•
The Vkarage
Priest Lano
Cartm
GRANGEQVER-SANDS
LA116PU
Tru5tee$
P Chamberfain, Chairman
Rev N D8venlsh
S W1116a
W AEIIS
J C Iveson
Sollcltor
Brabners
7-8 Chapel Street
PRESTON
PR18AN
Bankers
Barclays Bank
LEICESTER
LE87 288
Accountsnt
Dodd & Co Limrted
FIFfEEN R056hill
Montgom8ry Way
Rosehill Estste
CARLISLE
A1 2RW
InvestmontAd¥isor
JM Finn
25 Copthal Avenuè
LONDON
EC2R 7AH
Page 1

Cartm•l Prlory Trust cio
Trust8os' Rgpgrt for th• Y•ar End￿ 31 Decgmber 2024
The financial stalernents have begn pr8pared in accord8nce with the accounting polici85 5trt out in the accounts
d comply wth the charity's goveming tbcurnenl. the Ch8rities Act 2011 and AccountiThg an¢J Reporting by
Ch8rities'. Stst8mÈnl of R8comm8nded Practice appli¢ablg in tho UK and Republi¢ of Ireland.
structuro. Governance and ManaoEmtnt
Govemi
DocutDent
Tho Cartmel Priory Tust CIO 1$ a reg6stered ¢haiity govorned by Ihè deod of incorporation acceptod by tho
Ch8rikn'e$ Commission and was reglstered 17 Deeember2021.
anisotional DecisvJn-Maknn
The Trustees, meet formally on three occasions dwng Ihe year. admlnlster the affairs ol the Charity.
Requests for funds from The Priory Church of Cartmel are consider8d at th8se rneetings. Newly appointed
Tru$t••s a￿ 9￿￿￿ Induction training ￿en flysl appoinled all Trust•os arg offofoLI (ryory tralning, as
approprlale.
The Twst•os hav• a$s•ssad Ybe major ri$ks to whi¢h Charity is èxpo$gd, in particular Ihoso rdating lo the
¢)peratlons and flnan¢es of the Iru$t, and are satLsfled that $￿tern$ are In plaie to mlugate our exposure to the
major r￿ks.
Obledlves and Arllvmes
The pritne object of th8 Chaiity is the advancement of Christian r81iglon by the consgrvallon, irnwovernent,
enhan¢em&nt and repkcernenl of the fabriG fixtuos, fitbngs and furnishin9 of the Prii*y Church.
The Trustees are empowered to pay or appty the net inc(xne only of the Trust Fund at their dis¢xeUon In the
lurtherar￿e of the objects of the Charity.
The Charity met these obje¢ts"ves durin9 the year by donath)ns lo Cartmel PCC for thè following..
Francis Roberts Archilects.. £1.080
Fogarty.. £3.120
General repairs: £9,857
Chri5 Bobyker Electriuan.. £11.394
Robwts & Stone Ar¢hlte¢ts'. £3,600
Ministry 011gr'. £28,000
Events M￿agement.. £1,500
D Walter'.£2,000
In detertnining Ihese objectNos and aCtI￿7t￿5 the Trustaes havè paid thje regard to the Charty Commission
guida￿@ on public benefit.
A¢hltvtm¢nts and Performan¢•
During yoar, the Trustèes tn8d& (k)nations lotalliny £60.551 to Cartmd PCC for the cons8rvation of the Priory
Church.
Page 2

Cartmel Prl¢)ry Trust CK)
Trustfjo$' RoPQrt for the Y•ar Endod 31 De¢emb•r 2024
The Trusto0$' Inveslmenl ¢Jbiecliv¢ 1$ to r8tum suffictent capltal to generate the income requlred to meet the
antiapated ¢osts ol the ¢bje¢ts of Ihe Charity. The total value of the Charivs Inv8stments have increased
by 0.65% from Deomber 2023 to December 2024, with 8 r8ducti£￿ of 0.94% expgrt8n¢èd ovor th& last Iw)
y88rs.
The Charty has a fairly favourable position In havlng 6.90% of its Inv8slm8nts In fixed inl8r8sts. ThSs Is In Ine
th the plann2d fLX8d inlere6t investrnent perGenlage for the yew.
Flnanclal Re¥lew
The Trustees are satisf18d *ryth the financial position of the Chafity and confirm that they have adequate assels
available lo fu￿11 Iheir oblgatx)ns. They approve the record of trans8Ctiohs sel out he￿1￿. They have continued to
make awards akjng the Ilne8 laid down in thoir gU￿elIneS to applicants. The 8mounts awar(led are showfi in
ihese statern4Nts.
The mal￿ty of cEsh is held on interest b•8ring aceounts. The Trustees hov¢ wlde Investmont powers. nam8ty'.
To inve61 in 8uch secuiitios or other invt$trMnts or proporty whelher invdving liability or not and %4thether
produdng incorne or not as the TnJ5tee5 shan in Ihew absolute discTetion think fil. Th8 Trustees may also hold
any assets In nominee names provi¢Jing that any land shall be assured lo the Truste￿ upon trust for sale.
Th& Trust88s retain $ufficlent capital to gener818 the wulred to meet the antjclpated rwls of the maln
objects of thè Charfjty.
At ygar 8nd, the Charity had re58rv85 of £2,471,242 01 whith £1,783,925 was held irt End¢yMnent Funds and
£687,317 was Unrestricted. £2,151.436 of Ihe total reserve5 were heks in inv8strnen¢s ￿a￿n9 free. unresthded
r8S8rve5 a5 at 31 Decemb8r 2024 of £311,722. This is considered to be an appropriatelgvel of res8Tves.
Donatlons to tho Cartmtl PrloryTru¥t Fund
In the year ending 31 December 2024..
Th• late Maurice Howarth
Approved by th8 7ruslees on 12 Mar¢h 2025 and Signed on th8ir by..
P Ch8mbèrlain
Truste8
Pag• 3

Cartmel Prlory TNSI CIO
Trustggs. R•sponJ5ibiliti9s in relat￿rt to tho Financial Statements
Th8 trust8e5 are responsibl8 for prep8riry the Trust888' R8POrt and the finanaal State[￿nts in accordance ￿1th
applicab18 law Uni18d lQngdom Accounting Standard5.
The law applicable to chariti8s in England and Wales requires the trustees io prepare financial statements for
eath finanoal year which gtve a tru8 and fair vi8w of the state of 3ffairs of the charty and of the incoming
rèsour¢es and application ol resources ol the charity for that period. In prepaiing these financial statements. the
InJste88 ar8 requir￿ to..
sdect surtable acCoun￿n9 kK)liC￿$ and then apply them uJnsistenUy',
obseNe the rnethods and principles In the char￿e5 SORP..
rnake judgements and gstlmate81hat are reasonat4e and pruden(.
$tste ¥¥hether applicable accountry $tandarfJ$ have been lolbwe<l. subject to any material departures
disc1088d and 8xplained in thg financial $tatemgnts', and
prepare the financial statoments ¢)n the 90in9 con¢wn basi6 unless rt is inappTopnate lo presume Ih8t the
¢h8rity ￿11 ¢ontinue in bu$lness.
The trustees are re5PDn5ibl& for keeping proper arwunting records that disclose reasonablg 4rcuracy al
any time th8 flnandal positlon of tho charity and gnablo Ihern lo ensure that the financlal statemenls ¢ompty wth
the Charitie5 Acl 2011 85 amended by the Charibes Act 2022, the Charity (Accounts and R8POrtsl Regulations
and the provisions of the tWU51 deeij. They are responsible for 5afeguardin9 the assets of the charity and hence
for taking reasonablo steps for the prevention and detection of fraud and other irregularities.
Page 4

Ind¥pondont Examln•f¥ Report to th• Trustw* of
Cartmel Priory Trust CIO
I reporton the a¢¢ount8 of the chsrlty for the yoar 8nd8d 31 December 2024, thich are Set oul on pages 6 to 13.
Your attention is to drawn to the fact that Ihe Charfty has prepared the financlal statements In accordance
Actounling and Reporting by Charities preparlng th8ir accounts in accordanco *ith Ihe Flnancial Reporting
Standard applicable in Ih8 UK and Repubkc of Ireland IFRS 1021 pr8ference to the Accounting and Reportlng
by Charities.. Stslement of Ro¢ommend8d Practice is5uod on 1 April 2005 which 18 r8f8rred to in the extant
regulations blrt has sinoe been withdrawn.
W8 unde￿￿n{l Ihat this has been done in order fcrf Lhe accounts to provid8 a Irue and fair view in a¢¢or¢an¢e
vAth the Generally Accepted Accounting Practic8 effgctwe for reporting pèriods b8glnniThJ or aftgr 1 January
2019.
Rospe¢tive respon8lblllt105 of tru81008 and examln•r
The Charws tru$tè•s are responsible for th6 preparation of the accounts. The tru51885 conslder that 8n audlt 66
nol required for this year under sectK)n 144121 of tha Charitlos Acl 2011 as amendod by the Charities Ad 2022
(lho Act) and that an indepEndentexamination is needed.
It 18 my responslknlty lo..
examine the &ccounts under $8Ction 145 ￿ the Act.
folbw the proc8dur95 laid in Ihe Gènwal Diredtons given by the Charty Commi556on undar $gCtion
145151 Ibl of the A¢l-, and
stats whether part￿ul￿ matters hav8 cometo my attention.
Basis of Ind•pendent examln•rf8 r•port
My examinalicn was Carried out in accordanGe wth Ihe Gener81 Directions given by th8 Charity Commission. An
examination includes a review of the accounting record5 kept by the chadty and a comparison of th• a¢¢ounts
pre88rit*d vlth Ihose records. It also In¢ludes consideration of any unusual iterns or dl$closure5 Sn the a¢¢ount$,
and seekSng exp18nations frorn you as trust￿$ Gon¢orning any such rnatt8rs. The procedure5 undertaken do not
provide all the evidenGe that wvuld be requiffjd In an audit and con5equenUy no opinion is given as lo whether
the acwjnts pr6sont a 'tru8 and fair vievl and the r8POrt is limrted to those mattors set out in tho slatom8nl
bglow.
Indwnd¢nt•xamlnrfJ5 Statement
In CO￿ectIon with my èxaminab"on. no matter has ¢om• to my attention..
{11 whlch 9wes me tsasonabl8 cau$8 lo believe that In any material respect the fequw8rnents.'
to keep accounting rtcords in accordance with secknon 130 01 the Charilie5 Act 2011 as
amended by the char￿￿8 Act 2022; and
to prepare acwunts wh￿h accord vllh thg acC￿n￿ng r8cwd$, ccmpty with the a¢counting
requirements olthe Act
have not been mel., or
121 to which. in my opinlon, ottanlh)n should te drawn in ord8T lo ￿able a prcyer understanding of the
accounts to be reached.
FIFfEEN R¢Ydehill
Montgomery Way
Rosehill Estate
CARLISLF
CA12RW
ne Thomlinson FCA
d & Co ￿rnited
harter8d Accountanls
12 March 2025
Pagè S

Cartmel Prfory Trust cio
Statement of Financial Aetivltles for the Year Ended 31 DeCem￿r 2024
Unrestrlcted Endowm•nt Total Funds Total Funds
Funds
Fub)ds
2024
2023
Note
Incornt
Donation5 and kgaci8S
Investrrent$
10.190
10.190
513
80.873
91,[￿3
80.873
91,063
84,003
84,516
Total In¢omg
Exp•ndllurè
Expènditurè on chariiable acti*ities
Total e¥penditurg
66,151
66.151
10.329
10,329
76.480
76.480
26.425
26.425
Gainslllosses) ¢Jn tnve5tmenl assets
14,0861
33.359
29.273
121.6951
Net incomellexp8nditurel
20.826
23,030
43.856
36.396
Transf•rs
Transfers between fund5
Net movement in hjnds
20.826
23,030
43,856
36,396
Re¢0￿1110110n tsl funds
Total fund5 brougm forward
Total funds Garried lO￿ard
666.491
1,760,895
2,427,386
2,390.990
687.317
1,783,925
2.471.242
2,427,386
Th8 notas on pagos 8 to 13 fomi an integral part of th￿0 financial statom8nts.
Page 6

Cartm•l Priory Tru¥t CIO
Balance Sh¢et as at 31 Decembor 2024
2D24
2023
Noto
Fixed a$$ets
Investments
2,151.436
2,137.560
Current as$•ts
D8btors
Cash at bank aTrJ in hand
962
320,346
321,308
1.313
289.946
291.259
Crodltor8: Amounts falllng du9 wlthln
ne year
10
11,502
11.4331
Not ¢uThgnt ass•ts
319.806
289,826
N*t •88éts
2,471.242
2,427,386
Tho lunds of ¢harlty.
End0wm￿t funds
1,783,925
1,760.895
Unrestrfctod lund•
UnrestM¢ted I[￿orne funds
687,317
666,491
Totsl charityfunds
The ffinanclal s¢at8menls hav? been rKepar¥d in accordance with the Financwl Repotllng St8nd8rd 8ppIiGHble in
Ihè UK and Republic of Iroland IFRS 1021.
2,471,242
2,427.386
Approved by the Board on 12 March 2025 and signed Dn tts behaw by..
P Chamb8r181n
Trustee
The notes on pagos 8 to 13 forn an integral part of these financial 5totements.
Pag8 7

Cartmel Priory TTU¥t CIO
Nots$ to th¢ Flnanclal Statements for tho Y•ar Ended 31 D•c•mb•r 2024
Accounting poli¢l*s
Stst•mont of complianc•
Th8 accounts lfinanclal staiementsl have been prepwed In accordance vAth the Statement ol
Ro¢(mmended Practicg.. Accounting and Reporting by Charities preparing their account5 in accordaneg
th the Financial Reporting Stand0￿ appllcabl$ in th8 UK and Republic of Ireland IFRS 1021 and th8
Financial Reporting Sts*daTd applicabl& in the United Kingik)m and Republi¢ of Irelsnd IFRS 1021 and thè
Charities Ad 2011 and UK G8n8r81ty Accept￿ Practice as it applies from 1 January 2019.
Basis of prèparation
The ¢hanty meets the definitlon of a publ1¢ benofit gntity under FRS 102. Assets and liablllles arg initlalty
Cognised at historical cost or transaction value ￿laSS Oth8MSè Statèil in the relevant 8ccounting policy
r¥Jles.
Going concem
Th8$8 financi81 statements h8w bean prepared a going ¢onc8m basis.
Fund accoun¢in9 policy
Unrestric18d incorne funds are gen8r81 hjnts Ihat arè avallable lor use at the trusle88' discrètim In
furtheran¢e ol th& objo¢tives of th8 charity.
FUrf￿rd•t#lls of each fund are disc1088d in 12.
Income and •ndowmonts
L6ga¢les ara recognised where Ihère Is enllUemenL receipt is probat48 and the arnounl can be measur8d
ilh Sufficiènt Tal￿bIlity.
Inc￿8 from Govemmèni and other grants. W￿ther'c¥)rlaI. grants or'r6venu¢' grants. r9¢0gnisad when
th8 charity has enbuement to the fund8, 8ny performanco tondthons attached to the grant8 have been met.
It Is probable that the income will be recwved aTK5 Ihe amount w be measured reliabty and is not deferred.
Inccyning re50uro5 frorn tax re¢lalms 8re included M the 51atement of finantl81 actlvltles 8t Ihe s8mé time
as the gNtto whl¢h they relate.
Investment Income ig recognlsed on a r8C8ivable basis. Incorne received from endowments is treated as
￿n￿Stricte
Exp¢ndl¢ur•
abilities are recognised a5 s(th as there is a legal or constr￿l￿e ebllgatlon ¢¢mmitling th8 charity to thè
expendiluw. All expenditure is accounted for on an acc4ual$ basis and has been ¢lassrf18d under hewjings
t￿at aggregate all rxJ8ts related to the category.
Expenditure on ralslng fuNls are th8 WSt8 associated￿lth attracting donauons and18ga¢lg$.
Charitable expendllure comprises t￿)Se ¢gSts incurred by the charity in the delivery ol ils actNities and
58r%qees for its ben8fi¢iarie$. 11 includes both etssts thai can be allocated LI1￿¢￿y to such and those
costs ol an Indirect nature nec855ary to 5UPP(*t them.
Support costs
Support Costs include Contral fun¢tions and h8v8 b88n allocated to activty Gost ¢8tegori8s on a basis
consistent wth th8 use of resources. for exarnple, allocating proporty costs by floor areas. or per ¢atlta.
slafl costs by the time spent and otherc05ts by th*r us4e.
Page 8

C•rtmel Prlory Trust CIO
Notes to the Fln•n¢lal Statemènts for thè Year Endèd 31 Decomber 2024
.. eontinugd
Cash and Cash Equival•nt8
Cash and cash equivalents compri58 C8sh on hand and call depos￿, and other short-tèrm highty liquid
Investments that are ￿a￿llY￿nvertIb￿to a known amountof cash and a￿ $uble¢t to an Inslgnffi¢ant risk of
¢hange in value.
Investm•nt8
Fixed asset irwgslrri8nts are Included atfalr value at the bslance sh88t date.
Reallse¢J gains and loss&s on inveslmtrnts talculated a$ th• diff$ren¢e befv￿en sakn proceeds and
their fair valua at the start of the ￿ar, or thair subsequenl ¢osl, and are charged or cxediied io the
st8tem8nt ol th8 financial actsvities in the p8riod of disposal.
Unrealised gains and losses repres8nt movement in fair values durfng Ihe year and aio credlted or
¢harged to the 6tatementof financlal a¢tiwtse$ based on the market value at Ihe year end.
Donations and 18gackes
Ilnre5trlctod Endowmènl Ttstal Funds Total Funds
Fund5
Funds
2024
2023
D<>nations and legacios
L8gacies and bequests
App8als and donations
Grf( Aid tax reclairned
10,1
10,000
190
270
243
513
10,190
10,190
All of the donats.ons aThJ legacies income In 2023 rdated to unrestrided funds.
In¥e•tments
Uw08trlctsd Endowrn•nt Total Fund# Totsl Fund8
Funds
Funds
2024
2023
DIVIde￿ incorne
Gross tond int8r8st
Gross bank inteTest
68.611
211
12,051
68.611
211
12.051
76.826
2.730
4.647
80,873
80,873
84,003
AJI of Ihe investment incC￿e in 2023 related to unrestricted fvrnds.
Page 9

Cartmèl Prlory Tru¥t CIO
Notas to the Financial Statements for the Y￿r Ended 31 Decèmber 2024
. conllnuod
Exp•ndlturè
Upkeepof
Prlory
church
Totsl
2024
Totsl
2023
Dlre¢t ¢o$ts
Admirnstration of invgstmonts
Charitable donations
12,545
60,551
73.096
12.545
60.551
73,096
12,439
11,180
23,599
Support CO8t8
Insurance
Sundry expenses
Accountancy f8eS
Indèpondont examin6ffs fe6
326
193
2,265
8C#)
3,384
326
193
2,265
600
3,384
321
97
1,808
600
2.826
76.480
76,480
26,425
01 the &Npenditure in 2023 £18.302 related tts unrestricted funds and £10.123 related tts endowmentfunds.
G¢>vernanco c08t8
2024
2023
Accounte￿Y fees
Indopendont examlng¢$ f989
2,265
600
2.865
1,808
600
2,408
Tru$to•$' remuneration and expen$
ttU5tee$ received any remuneration thrring the yw.
Page 10

Cartmel Priory Trust ¢10
Notes to the Flnanclal Statements for the Year Ended 31 Oecember 2024
.. conlirnRd
Taxatlon
Tl* registèred charity k8 exemptfrom tayation on incorne and gains.
Investments held as fixtd •$#et$
Listsd
Inve&trnent5
Markot value
As 811 January 2024
RevalUa￿On
A(klilloTrs
Dl$posals
As at 31 December 2024
2,137,557
29,273
431,773
447,167
2,151.436
N•t book valu•
As at 31 D￿mber 2024
As at 31 Docomber 2023
2,151.436
2,137.55T
Invesfmentassets be furtheranatysed as f¢)IoK*'.
VK
Ov•r¥eas
L48ted investments
1,640,777
1.640.777
510.659
510.659
Debtors
2024
2023
Ae(¥ued Interest and In¢¢)me
982
1.313
10 Cr•dltor$: Amounts falllng du• wlthln one
2024
2023
Accruals and d8f•rT8d income
1,502
1.433
Page 11

Cartmol Prfory Trust cio
Motos to th• Flnancial Statgmonts for tho Yoai Ended 31 Decomber 2024
.. conunued
11 Related partles
Controlling 8ntlty
The charity is controlled by the trus188S.
12 Anal￿16 of fvnd$
Other
r•cogn158d
oaln$lloss•$
At31
December
2024
At 1 January
2024
Incomlno
rosovTC88
Resourc•s
expended
General Funds
unrès1ri¢t￿ income fund
666.491
91,C63
166,1511
14,0861
687,317
P•mian•nt Endowm¢nt
PermaneDt endobwnent
1,760,895
110.3291
33,359
1.783,925
2,427,386
91,C63
176,4801
29,273
2,471,242
General Fund$ - the general lur>d$ recdve investment IrKome and a￿ used to pay for the upkeep of Ihe
Priory Church.
Pemanent Endowm8nt- th8 pemian8nt endoN￿nents are used to generate the funds needèd to perform the
charitys objective5 *nd are revalued annualty.
Prlor perlod
Incomlng
r•souree$
Resources
expended
Other
r•¢¢9nI￿d
galnsl1os￿$
At31
January
2023
DeCem￿r
2023
rxneral Funds
Unrèstiicted income lund
627,458
84,516
116,3021
129,1811
666,491
Pèmianenl Endowm•nt
Pemianen¢ Endowmenl
1.763.532
2.390,990
110.1231
126,4251
7.486
121,6951
1.760,895
2,427.386
84,516
Pagè 12

C•rtmel Prlory Twjt CIO
Notes to the Financial Statements for the Year Ended 31 De￿mber 2024
13 N•t •s$gts by fund
Unr¢$¢rlded
Funds
endowment
Funds
Totsl Fund$
2024
Total Fund¥
2023
Invè$irnènts
Current assets
Crediiols". Amounts falling due
thin one year
Net assets
375,595
313,224
1.775.841
8,084
2.151,438
321,308
2.137.560
291,259
17.$021
687.317
11.5D21
2.471,242
11.4331
2.427,386
1,783,925
Prfor pgriod
Unrgstrld•d
Funds
Endowrnent
Funds
Total Fund$
2023
Total Fund$
2022
Inv85tmenis
Current assets
Creditors.. Amounts falling due
wilhin one year
Net assets
384.536
283.388
1,753,024
7,871
2,173.560
291,259
11,4331
2,427,386
2,171,890
220.465
11,3651
2,827,727
11,4331
666,491
1,760.895
Page 13