OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

Registered Charity Number: 201845

ABBEY LAWN TRUST ACCOUNTS 31 March 2025

1

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

C O N T E N T S

Page REFERENCE AND ADMINISTRATIVE DETAILS DIRECTORS OF THE TRUSTEE COMPANY’S REPORT 2-10 STATEMENT OF DIRECTORS OF THE TRUSTEE COMPANY’S RESPONSIBILITIES 11 INDEPENDENT EXAMINERS’ REPORT 12 INCOME AND EXPENDITURE ACCOUNT 13 BALANCE SHEET 14 NOTES TO THE ACCOUNTS 15-27

2

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REFERENCE AND ADMINISTRATIVE DETAILS

The Charity’s only Trustee for the year was Abbey Lawn Trustee Company Limited.

Directors of the Trustee Company The following directors held office during the year:

John Yorke Faith Hallett Matthew Darby Justin Meath Baker Alan Mackinnon

Registered office

41-42 Church Street, Tewkesbury, Gloucestershire, GL20 5SN

Charity number 201845

Accountants Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT Bankers Lloyds Bank Plc 19 High Street Tewkesbury GL20 5AW Solicitors Thomson & Bancks LLP 37 High Street Pershore Worcestershire WR10 1AH Land agents Fisher German LLP Global House Hindlip Lane Worcester WR3 8SB

Investment Advisor Jane Newman Financial Planning Ltd. 10 St. Andrews Road Droitwich Worcestershire WR9 8DN

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY

The Directors of the Trustee Company present their report together with the accounts for the year ended 31st March 2025. The accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 and the Charities Act 2011.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trust is an unincorporated charity, first established by a Trust Deed dated 2nd September 1940, when various lands and buildings close to Tewkesbury Abbey, which were considered to be under development threat, were donated to the first Trustees to ensure their preservation. This Trust Deed was replaced by a scheme of governance ordered by the Charity Commission dated 9th August 2005 (Commissioners’ Case Number 344698). Under the terms of the scheme, a newly formed company, The Abbey Lawn Trustee Company Limited, became the Trustee of the Charity. The former Trustees of the unincorporated Charity served as the first members and directors of the new company.

Under the terms of the scheme of governance, the title to the land which had previously been held in the names of the individual trustees was transferred to the new Company as Trustee to be held in trust for the Charity. The directors of the Abbey Lawn Trustee Company Limited are appointed by the board of directors.

Under the terms of the Articles of Association, new directors are appointed by the existing directors in their capacity as both directors and as the only members of the company. New directors are briefed on their legal obligations under charity and company law, the Charity Commission’s guidance on public benefit, the objects of the charity and how they are achieved, the decision-making process of the board, the recent financial performance of the company and its future prospects.

The Directors of the Trustee Company met formally in May, July, September and November 2024 and in February 2025. E-mail exchanges kept the directors regularly in touch.

OBJECTIVES AND ACTIVITIES

A summary of the purposes of the Charity, which are set out in full in its Scheme of Governance, is as follows:-

The main activities undertaken to achieve the purposes of the Charity are highlighted below in the section on Public Benefit.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

PUBLIC BENEFIT

The Trust’s inalienable endowment comprises donated land and buildings close to Tewkesbury Abbey which it has a duty to preserve for the benefit of the public and future generations. Having regard to the Charity Commission’s guidance on public benefit and in line with its objectives summarised above, the Directors of the Trustee Company make the following statement.

The Land

The land preserved by the Trust forms part of a scheduled ancient monument of national importance comprising Tewkesbury Abbey and its precincts. It includes the Abbey Lawn gardens to the east of the Abbey itself, which are maintained at the Trust’s expense as a park for the benefit of the public with free access during daylight hours for 365 days a year (objective c). It also includes the Abbey meadow, comprising some six acres to the south of the Abbey itself, which is open at all times to the public for amenity use and is particularly welcomed by dog walkers. Signs indicate accessibility and opening times as appropriate. Paths, benches and signs encourage access and informal use. The service road at the rear of the Church Street properties is open at all times and the adjoining secret garden is open to the public during daylight hours.

The Buildings

The buildings preserved by the Trust are, with one exception, all listed by English Heritage as being of historic and architectural importance, the great majority being listed as grade I. They include arguably the oldest surviving medieval English uniform town development in the form of a nearly continuous slightly curving terrace of 17 timber framed houses and former shops. They comprise No’s 34 to 48 and No’s 50 to 51 Church Street and stand along the northern edge of the old monastic precinct. Dendro-chronological tests carried out in 2021 have pointed to a building date in the second decade of the 15[th] Century. As Thomas Parker was abbot from 1389 – 1420, he is likely to be responsible for their erection. They are thus of considerable architectural interest and, from the Abbey rent roll of 1540, it appears that they were built by the monks and let to tenants as a speculative development.

The Trust also owns the 15[th] century stone gateway to the former monastery complex to the west of the Abbey together with the adjoining 14[th] century stone tithe barn. At least two external elevations of nearly all these buildings are visible for the benefit of the public at any time from highways, rights of way and other accessible land. The interiors of two are also regularly open for the benefit of the public, comprising the John Moore Countryside Museum at 41 Church Street and the Little Museum, a restored medieval merchant’s house at 45 Church Street. Interpretative information on the restoration and conservation of the medieval range is displayed at both properties (objective b). The museums are advertised on car park tickets, tourist information signs, the Charity’s website and in appropriate publications, including brochures and educational circulars as well as local and national guide books.

With the help of our land agent, we regularly monitor the condition of the important listed buildings under our care and take appropriate action to ensure repairs and maintenance are carried out for their preservation and protection (objective a).

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

PUBLIC BENEFIT (continued)

The Countryside Museum

The Countryside Museum was originally founded as a memorial to the life, work and writings of a Tewkesbury-born writer, journalist and early conservationist, John Moore (b.1907, d.1967). This museum aims to benefit the public by educating them in the importance of wildlife conservation and in the knowledge of English natural history with particular reference to the region centred on Tewkesbury. The museum has displays of local wildlife, including some important taxidermist exhibits, and traditional local agricultural and craft tools together with associated interpretative panels. It has a very active outreach programme both to local schools and organisations such as the WI, with loan collections available as a resource for teaching. Occasional special events are held and special exhibitions mounted (objective b).

The Little Museum (The Merchant’s House)

The Little Museum aims to benefit the public by illustrating the timber frame construction techniques used in the erection of the Trust’s main range of medieval buildings and has been laid out with copies of period furniture and household goods to illustrate its original internal use. Talks and historical re-enactments are periodically held there, which provide a useful educational resource for schools covering either local history or the Tudor period in their curriculum. Adult groups such as local branches of the WI and the University of the Third Age are also enthusiastic visitors.

Our two museums have a dedicated staff of 2 who, together with a loyal number of volunteers from the local community, run them for the benefit and education of the public. They provide a range of educational activities in-house and offer outreach services to local children and adults. They also provide and manage an informative and regularly evolving website about the museums and their services (objective b).

The Old Baptist Chapel

This chapel is described in the Buildings of England (ed. Pevsner, 3[rd] edition, publ. 2002) as ‘a remarkable survival, hidden in a narrow alley off Church Street, redolent of early clandestine non-conformist meetings. It is timber framed, originally a three-bay hall house, probably formally converted to a chapel soon after the Act of Toleration in 1689’. A dendrochronological test has dated its timbers as having been felled in 1458. Its present fine white painted, wood panelled interior dates from the early 18[th] century.

The assignment to the Abbey Lawn Trust of the unexpired balance of the existing 99 year lease of the Old Baptist Chapel from the Baptist Church Trustees to Tewkesbury Borough Council was completed in April 2016. We benefit the public by opening it and by adding this important grade 2* listed property to our portfolio of buildings in Tewkesbury to be preserved (objective a). Story boards and exhibits illustrate and educate the public in the history of non-conformism in Tewkesbury (objective b). It is also available for hire as a venue for concerts and art exhibitions and thus adds to the facilities available to Tewkesbury’s residents and visitors.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

PUBLIC BENEFIT (continued)

The Remaining Properties

The remaining properties are occupied by tenants or licensees and their interiors are not generally accessible by the public. However, the Abbey Gate House is leased to the Landmark Trust, which has created a holiday cottage out of the medieval chamber over the gate. This can be enjoyed by the public through the Landmark Trust’s cottage rental programme.

The interiors of the properties, which are not open to the public, for the most part comprise small residential housing units, not exceeding two bedrooms. A policy of access by the general public is therefore impractical, except in the instances listed above. There is an obvious requirement that the tenants be permitted to enjoy peacefully the properties that they rent at open market rates. Any annual surpluses of income from these lettings is set aside for financing the periodic necessary expenditure to preserve the properties for the benefit of the public in the long term (objective a). The matter is addressed in detail in the subsequent section in this report dealing with the Property Refurbishment Fund.

The north half of the 14[th] Century Almonry barn is licensed for use as storage for the Abbey authorities at no charge, while the south half has been converted into residential accommodation some 40 years ago.

Car Park

We provide a pay and display car park, strategically located to the east of Tewkesbury Abbey, a building of international importance and Tewkesbury’s principal tourist attraction. The public benefit of this parking facility adds to the ease of access to the Abbey.

Donations

We made no donations in the year.

ACHIEVEMENTS AND PERFORMANCE

Museums and Old Baptist Chapel

Our museum staff have further increased their lectures to small interested groups and their popular school tours of our heritage sites and museums. The Old Baptist Chapel continues to hold concerts, musical evenings and events for the benefit of Tewkesbury residents.

Kirstie Bingham, our curator, has once more been particularly active in arranging talks, reenactment events and school visits. Her team’s very successful activities have, in September 2024, happily resulted in a third Sandford Award, valid for three further years for our heritage education to the local community. We congratulate them for all their dedicated hard work which has made this possible.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

ACHIEVEMENTS AND PERFORMANCE (Continued)

The Sandford citation states that ‘The school programmes have been thoroughly and thoughtfully planned with meticulous attention to detail …. They are delivered in wellpresented historic buildings giving the learner a breadth of experience other sites are not able to offer. These programmes are delivered by a dedicated and experienced professional team in an interesting and engaging way. Teachers can be assured that the workshops will provide high quality educational experiences, giving their pupils insights and understanding on topical issues relating to the world around them’.

Let properties

An extensive programme of repairs was carried out in the year. In the autumn, we completely scaffolded the south side of the 14 medieval properties in Church Street and repainted their rear exterior which included some 70 windows and glazed doors. The opportunity was taken to replace loose tiles and attend to failing window woodwork prior to painting.

All our lettable properties have been fully occupied in the year, except for the ground floor of No 50 and the whole of No 51 Church Street. We have plans in place drafted by our conservation architect for refurbishing all of No 50, including the old caretaker’s flat, to yield a four-bedroom, two-bathroom property on the first floor with big family kitchen and two reception rooms on the now empty ground floor. Market conditions do not currently support the renovation of No 51. The exterior of these two properties has been maintained to a high standard, complying with our charitable objective of preserving the building, and work was carried out in the year including repainting and repairs.

FINANCIAL REVIEW

Net incoming resources.

Over the financial year, net expenditure exceeded net income by £74,832, after allowing for movement on investments. The specific factors driving this are addressed below.

Property Income

Our rental income continued to improve by a satisfactory £14,380 to £155,570 (2024 - £141,190), an increase of 10.0% (2024 – 5.0%). Rental increases were negotiated to align with the open market by our land agents, where appropriate, and we experienced no significant void periods. Smaller residential properties remain happily in demand in Tewkesbury. The rents are regularly reviewed and are likely to increase again in the current year.

Despite this rental increase, our property account shows a net loss of £29,595 (2024 – profit of £43,382). The main factor contributing to this is the massive increase in repairs and renewals referred to above which this year total £108,291 (2024 - £19,698). We do not anticipate significant repair costs in 2025/2026.

Land agent’s fees and professional fees together were virtually unchanged totalling £36,396 (2024 - £36,267), The cost of insuring our properties decreased by 9.5% to £20,798 (2024 - 22,982)

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

FINANCIAL REVIEW (continued)

The Car Park takings fell from £58,722 in 2024 to £49,239 in 2025, a reduction of 19.3%. This has been addressed by a change in the management arrangements of the car park with the installation of car number plate recognition cameras, new lighting and equipment in December 2024. This will significantly improve the net income received in the 2025/2026 financial year.

The Museum’s deficit for the year has fallen for the fourth year running to £53,483 (2024 - £65,392). The very significant increase in income to £25,888 (2024 - £18,593) is attributable to our curator’s continuing active management of an extended series of lectures to local societies, school visits to the museums and educational outreach to local schools. General museum expenses have increased in line with this more active museum programme and include additional taxidermy for updating the museum’s wildlife displays.

Investments.

Our investment portfolio was heavily weighted in the US market and so we sold half of one of our two US unit trust holdings which was showing some significant gains over recent years. This yielded a realised gain of £48,032 and the proceeds were added to our COIF charity deposit account. The two structured products with Investec kicked out during the year and the maturity proceeds of £50,000 were also added to this deposit account. The amount on deposit increased in the year by £59,844 to £149,111 (67.0%). The net gain in the value of our investments was £16,394 (2024 - £37,044). Income from investments increased by £1,277 to £16,016 (8.7%). Structured products interest was smaller due to the maturity of two of our four holdings during the year, but deposit interest increased by £3,714 to a new high of £6,994, because of the much larger amount on deposit, but with a slightly lower rate of interest being earned because of a decline in base rate in the year.

Overview.

The changes in our total funds for the last five years have been

£
2021 115,849
2022 (54,320)
2023 (104,399)
2024 29,095
2025 (74,832)

The outlook for the future is positive because of reduced expenditure on property repairs and increased revenue from the car park. We anticipate that 2026 is likely to show an increase in total funds of over £100,000. The directors were therefore able to resolve that in their opinion there were no doubts that the charity remains a going concern.

Our heritage assets cannot be sold and, as a result, are shown in these accounts at cost rather than at market value (see note 10). It is of some interest that a report commissioned in 2022 of their replacement value for insurance purposes totalled £16,400,000 – an increase of £4,400,000 over the last four years.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

FINANCIAL REVIEW (continued)

Properties refurbishment fund (designated fund)

The Charity’s continuing and recurring obligations to repair, maintain, insure, preserve and improve the inalienable historic land and buildings in its care cannot always be entirely funded in the year that they are incurred. A contingency fund is required for unpredictable, irregular, substantial and often very expensive repairs to roofs, structural timbers and other major elements of the buildings - repairs that might not arise as a consequence of insurable perils such as fire, storm and flood, and thus may fall to be carried out entirely at the Trust’s expense.

Moreover, significant resources are needed to fund a rolling programme encompassing those major works of maintenance, renovation, preservation, refurbishment or enhancement that can to some extent be planned, making the most of the inevitable void periods to upgrade the properties and to reduce the risk of emergency repairs in the future.

Although identifiable projects and indicative figures are taken into account in the Charity’s financial planning, the Directors of the Trustee Company do not formally allocate specific portions of the designated fund to defined schemes, as it is not always possible to predict with any confidence when they will be implemented or what the costs might be. At the year end the fund stood at £510,547 (2024 - £562,862).

The reinstatement value of our buildings for insurance purposes totals some £16,400,000. This high figure reflects the fact that all our properties except one, are listed as architecturally important, the very great majority being given grade 1 status. They comprise two medieval stone buildings, two residential houses of traditional brick or stone construction, the Old Baptist Chapel (converted from a late medieval timber framed hall house) and the remaining 16 medieval terraced cottages of timber frame construction with brick infill. Thus, they inevitably tend to be very expensive to repair. The value of the properties’ refurbishment fund at the yearend of £510,547 represents a mere 3.11% of this high rebuilding cost. The directors consider this fund needs to be increased to closer to 5% of the rebuild costs to be adequate.

Reserves policy

The Directors of the Trustee Company have adopted a policy to maintain general unrestricted income funds (taking one year with another) at a level of about £20,000 at current prices, effectively as ‘working capital’. The Directors keep the policy under review and monitor its application on an annual basis. At the year-end these funds stood at £20,000 (2024 - £20,000).

Reserves of £804,088 (2024 - £878,920) include unrestricted funds of £20,000, designated funds of £525,446, restricted funds of £28,996 and permanent endowments of £229,646.

The permanent endowment fund represents the endowment of properties held primarily for the purpose of fulfilling the Charity’s objects of conservation and environmental improvement, in addition to a small investment.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

REPORT OF THE DIRECTORS OF THE TRUSTEE COMPANY (Continued)

FUTURE PLANS

All further work on the extensive refurbishment of 50 and 51 Church Street continues to be suspended for the time being in the light of our future plans (see below), although the directors are satisfied that the external condition of these two properties is in good condition. Our charitable object of preserving these two buildings for public benefit therefore continues to be met.

An opportunity has arisen to purchase the freehold of No. 49 Church Street, a substantial grade 2 early 19[th] century brick-built town house with a basement and three storeys. It is the only freehold that we do not presently own between No. 34 and No 51. This property is owned by a charity and has been a retirement home containing 6 old people’s small one room flats each with a bathroom en-suite. There is also a 17[th] Century back extension which is attached to our No.50, containing a communal kitchen, dining room and a resident carer’s flat. We have agreed in principle to purchase all of this property, as the directors are satisfied that it falls within object (a) of our constitution. An issue with the vendor’s title has delayed the purchase but we expect this to be resolved shortly.

We aim to convert the rear extension to a semi-detached two-bedroom cottage at a cost of some £100,000 to yield a rental return of some 10%. The conversion of the main building will be deferred.

Unlike all our other core properties, which are inalienable, this purchase of No.49 Church Street will be a property investment and can be both sold or mortgaged if necessary, which will allow us flexibility, if we cannot afford the conversion costs without borrowing.

RISK MANAGEMENT

The risks to the Trust’s ability to continue its activities are kept constantly under review. The most significant are a reduction in cash flow, a loss in value of invested funds, and a drain on reserves in the event that future needs, contingencies or opportunities were to arise in any year or sequence of years, costing much more than could be afforded from available revenues.

Risks to cash generation are controlled by:-

(a) maintaining letting properties in a fair state of repair and to a reasonable standard of comfort, encouraging tenants to remain in occupation in the medium term, and attracting replacement tenants with minimal difficulty or delay.

(b) preserving a variety of property types with appropriate use consents suitable for occupation by a range of residential and commercial tenants.

(c) taking opportunities to review rents and update tenancy terms.

(d) setting parking tariffs that take account of those levied by the Borough Council, our only competitor for off- street short-stay parking in the heart of the town.

The risk of major expenditure is reduced, as far as possible, by insurance against the usual perils, by a recent expert review of sums assured, by regular inspection of the state of the properties, and by judicious and timely spending of reserves on repairs and maintenance.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

STATEMENT OF DIRECTORS OF THE TRUSTEE COMPANY’S RESPONSIBILITIES

Law applicable to charities in England & Wales requires the Directors of the Trustee Company to prepare accounts for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing accounts giving a true and fair view, the directors of the Trustee Company should follow best practice and:

The Directors of the Trustee Company are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ascertain the financial position of the Charity and which enable them to ensure that the accounts comply with 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.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

INDEPENDENT EXAMINERS’ REPORT TO THE DIRECTORS OF THE TRUSTEE COMPANY OF ABBEY LAWN TRUST

I report on the accounts of the Abbey Lawn Trust for the year ended 31 March 2025, which are set out in pages 13 to 27.

Respective responsibilities of directors of the Trustee Company and examiner

The Directors of the Trustee Company are responsible for the preparation of the accounts. The Directors of the Trustee Company consider that an audit is not required for this year (under section 144 of the Charities Act 2011 (the Act)) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the directors of the Trustee Company concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

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:

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.

29/1/2026
……………………………… ………………………….
Scott Lawrence FCA DChA
Date
Hazlewoods LLP
Chartered Accountants
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 March 2025

Restricted and Restricted and
Unrestricted Designated Endowment Total Total
Note Funds Funds Funds 2025 2024
£ £ £ £ £
INCOME AND
ENDOWMENTS FROM:
Donations and legacies 2 6,325 - - 6,325 21,561
Charitable activities:
Museum receipts 3 25,888 - - 25,888 18,593
Other trading activities:
Car park receipts 4 49,239 - - 49,239 58,722
Investments 5 16,016 - - 16,016 14,739
Other:
Property rents receivable 6 155,570 - - 155,570 141,190
_ _ _ _ _
TOTAL INCOME 253,039 - - 253,039 254,805
_ _ _ _ _
EXPENDITURE ON
Charitable activities:
Museum expenses 3 79,371 - - 79,371 83,985
Upkeep of garden 19,051 - - 19,051 18,529
Depreciation 10/11
-		 1,097 21,420 22,517 22,807
Raising funds:
Car park expenses 4 38,160 - - 38,160 39,626
Other:
Property expenses 6 76,874 108,291 - 185,165 97,808
_ _ _ _ _
TOTAL EXPENDITURE 213,456 109,388 21,420 344,265 262,754
_ _ _ _ _
Net incoming/(outgoing) resources
before transfers
and gains/(losses) on investments 39,582 (109,388)
(21,420)		 (91,226) (7,959)
(Loss)/profit on disposal of
investments 12 48,032 - - 48,032 -
Profit/(loss) on revaluation of 12 (31,638) - - (31,638) 37,044
investments _ _ _ _ _
Net income/(expenditure) 17 55,976 (109,388)
(21,420)		 (74,832) 29,095
Transfers between funds 17
(55,976)		 55,976 - - -
_ _ _ _ _
Net movement in funds - (53,412)
(21,420)		 (74,832) 29,095
FUNDS BROUGHT FORWARD 20,000 578,858 280,062 878,920 849,825
_ _ _ _ _
FUNDS CARRIED FORWARD 20,000 525,446 258,642 804,088 878,920
4

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

1 ACCOUNTING POLICIES

The accounts have been prepared under the historical cost convention, as modified by the inclusion of investments at market value, adopting the following principal accounting policies, all of which are in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 and the Charities Act 2011.

Any departures from these standards are only to the extent required in order to provide a “true and fair view”.

The Charity constitutes a public benefit entity as defined by FRS 102.

Incoming Resources

The Charity has five main income streams; donations and grants, car park receipts, investment income, property income and museum receipts.

Income from museum receipts are considered to arise from the activities performed by the Charity to meet its objects and are therefore allocated under ‘Income from charitable activities’.

The car park is situated on surplus land held by the Charity and is run for the purposes of providing funds, along with the investment portfolio and rental income from the properties, to support the performance of the charitable activities. These sources of income are therefore described under ‘Income from other trading activities’.

Donations and 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. Donations or grants for immediate financial support, or received against costs previously invoiced, are recognised immediately in the Statement of Financial Activities.

Charitable Expenditure

All expenditure is included in the accounts as soon as it is incurred.

Costs are allocated by activity in line with the allocation of income. The nature of the Charity is such that there are no support costs. Costs of external scrutiny, investment advice, charity structure and other costs not directly related to charitable activities are included in governance costs. These costs are allocated as set out in note 7 to the accounts. The irrecoverable element of Value Added Tax is included with the item of expense to which it relates. Depreciation is allocated to expenditure headings on the basis of the use of the assets concerned.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

1 ACCOUNTING POLICIES (Continued)

Tangible Fixed Assets

All resources expended on acquisition, enhancement and installation are capitalised as fixed assets.

Tangible fixed assets are stated in the balance sheet at cost, less depreciation. Depreciation is calculated to write off the cost less estimated residual value of tangible assets over their estimated useful lives at the following rates per annum:-

Freehold land and buildings Nil Freehold property improvements 10% of written down value Equipment 20-25% of written down value Old Baptist Chapel leasehold 10% straight line from 1 April 2016

Heritage assets

All the historic freehold properties that the Charity holds are classified as heritage assets. Details can be found in note 10.

Grants

The Charity occasionally awards grants when appropriate circumstances arise. Such grants are recognised when paid.

Investments

The investments are listed on a recognised stock exchange and included at fair value in the balance sheet. All movements in value arising from investment changes and revaluations are included in the Statement of Financial Activities. There are no unlisted investments.

Taxation

The Trust is a registered charity. The results of its normal activities are not liable to income tax.

Funds

The Charity has endowment, restricted and unrestricted funds. Further details of these funds can be found in notes 16 to 20.

Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are 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. On review, the Trustees have concluded that they are to adopt the going concern basis in preparing these financial statements.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

2
3		 GRANTS, DONATIONS AND LEGACIES
2025
2024
£
£
Grants
Bristol City Council
320
254
The Royal Society
3,500
Gloucestershire Museums
-
384
_

3,820
638
Donations
2,505
-
Legacies
-
20,923
__
_
6,325
21,561
All income for the year from donations and legacies was unrestricted income, as it was
JOHN MOORE COUNTRYSIDE MUSEUM
2025
2024
£
£
Income
Entrance and attendance fees
25,888
18,593
_
_
General expenses
General museum expenses
23,837
16,739
Demonstrations and events
415
811
Governance costs
1,833
1,241
_
_
26,085
18,791
Museum staff costs
53,286
65,194
_
_
79,371
83,985
_
_____
Net deficit of the Museum
(53,483)
(65,392)

All income for the year from donations and legacies was unrestricted income, as it was in 2024.

All income from entrance fees and donations for the year was unrestricted income, as it was in 2024. In 2025, £Nil (2024: £Nil) of expenditure came from restricted funds. The remaining £79,371 (2024: £83,985) was from unrestricted funds.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

4 CAR PARK 2025 2024
£ £
Income
Takings 49,239 58,722
_ _
General expenses
Attendant’s employment costs 27,589 26,050
National non-domestic rates 2,121 2,064
Cash collection and other costs 4,963 7,594
Governance costs 3,488 3,918
_ _
38,160 39,626
_ _
Net income from the car park 11,079 19,096

All car park income for the year was unrestricted income, as it was in 2024. All expenditure was from unrestricted funds in both 2025 and 2024.

5 INVESTMENT INCOME 2025 2023
£ £
Bank deposit account interest 6,994 3,280
Structured products interest 1,219 3,375
Dividends reinvested 7,189 7,273
Interest reinvested 615 811
_____ _____
16,016 14,739

All investment income for the year was unrestricted income, as it was in 2024.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

6 PROPERTY 2025 2024
£ £
Income
Rents and other property income 155,570 141,190
_ _
Expenditure
Land agent’s fees 26,316 16,371
Insurance 20,798 22,982
Repairs and renewals 108,291 18,554
Professional fees 10,080 19,896
Other expenses 8,662 10,266
Governance costs 11,019 9,739
_ _
185,165 97,808
_ _
Net income from properties (29,595) 43,382

All property income for the year was unrestricted income, as it was in 2024. In 2025, £108,291 (2024: £Nil) of expenditure came from designated funds. The remaining £76,874 (2024: £97,808) was from general unrestricted funds.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

7 GOVERNANCE COSTS 2025 2024
£ £
Independent examination fees 790 750
Accountancy fees 3,230 2,953
Professional fees re investments 6,416 7,146
Bookkeeper’s fees 86 950
Christmas lunch costs 394 405
Bank charges 124 409
Sundry costs 5,300 2,285
_____ _____
16,340 14,898

Governance costs were allocated to other expenditure on the following basis:

Governance costs: 2025 2024 Basis of apportionment
£ £
Property expenses 11,019 9,739 Income
Museum expenses 1,833 1,241 Income
Car park expenses 3,488 3,918 Income
_____ _____
16,340 14,898

All governance costs related to unrestricted funds in both 2025 and 2024.

8 STAFF COSTS AND NUMBERS 2025 2024
£ £
Salaries and wages 66,316 75,677
Social security costs 6,413 6,527
Pension contributions 8,146 9,040
______ ______
80,875 91,244

No employee received emoluments of more than £60,000.

Directors of the Trustee Company received no remuneration in the year (2024: Nil) and were not reimbursed for any of their expenses in the year (2024: Nil). The average weekly number of employees during the year was 3 (2024: 4).

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

9 NET INCOME FOR THE YEAR

NET INCOME FOR THE YEAR
2025 2024
£ £
Net income is stated after charging:
Depreciation 22,517 22,807
Independent Examiner’s fee 790 750

Accountancy fees of £3,230 (2024: £2,953) were also paid to the Independent Examiner.

10 HERITAGE ASSETS

The land and properties vested in the Trust cannot be sold, because they are held for the Charity’s objects of preservation and conservation. They therefore qualify as ‘heritage assets’ and the value of the land and properties is shown at cost rather than at market value. Where the actual cost of certain properties is unknown, valuations attributed to those properties at 1 April 2002 are treated as the equivalent of cost. The title to the land, which had previously been held in the names of the individual trustees, was transferred to the new Trustee Company with effect from 9 August 2006, but the cost of the land continues to be shown in the books of the Trust.

Cost
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
Depreciation of £377 (2024 - £423) related to endowment funds.		 £
277,888
-
_
277,888
_
47,865
(377)
_
48,242
_
229,646

230,023

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

11 TANGIBLE FIXED ASSETS

Freehold
Leasehold
Fixtures
Fittings &
Equipment
£
£
£
Cost
At 1 April 2024
9,283
210,431
75,174
Additions
-
-
-
_
_
_
At 31 March 2025
9,283
210,431
75,174
_
_
_
Depreciation
At 1 April 2024
-
160,392
68,459
Charge for year
-
(21,043)
(1,097)
_
_
_
At 31 March 2025
-
181,435
69,556
_
_
_
Net book value
At 31 March 2025
9,283
28,996
5,618
At 31 March 2024
9,283
50,039
6,715		 Total
£
294,888
-
_
294,888
_
276,716
(22,140)
_
250,991
_
43,897

66,037

Depreciation of £1,097 (2024 - £1,341) related to designated funds. Depreciation of £21,043 (2024 - £21,043) related to restricted funds.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS for the year ended 31 March 2025

12 INVESTMENTS - LISTED

Market value
At beginning of year
Additions
Dividends reinvested
Interest reinvested
Management fees paid
Realised (losses)/gains
Unrealised gains/(losses)
Disposals
At end of year		 2025
£
488,804
-
7,189
615
(6,416)
48,032
(31,638)
(98,032)
__
408,554
 2024
£
461,626
-
7,273
811
(7,146)
(710)
37,754
(10,804)
_
488,804

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.

The listed investments at 31 March 2025 above comprise the following:

Quilter investments
Investec FTSE 100 Defensive Income Plans
IDAD
13
DEBTORS due within one year
Cash in Fisher German client account
Prepayments and other debtors		 2025
£
341,591
-
66,963
408,554


2025
£
14,856
7,350
______
22,206		 2024
£
385,411
49,635
53,758
488,804

2024
£
9,934
1,108
______
11,042

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

14
CASH AT BANK AND IN HAND
Current account
COIF Charities Deposit Fund
15
CREDITORS due within one year
Accruals and deferred income
Other creditors		 2025
£
6,140
149,111
__
155,251
2025
£
53,965
1,500
____
55,465		 2024
£
7,426
89,267
__
96,693
2024
£
12,179
1,500
____
13,679

16 ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025
Capital funds
Income funds
Restricted/
Designated Unrestricted
endowment
funds
funds
£
£
£
Tangible fixed assets
258,642
14,901
-
Investments
-
408,554
-
Current assets
-
101,991
75,465
Current liabilities
-
-
(55,465)
_
_
_
258,642
525,446
20,000

2024
Capital funds
Income funds
Restricted/
Designated Unrestricted
endowment
funds
funds
£
£
£
Tangible fixed assets
280,062
15,998
-
Investments
-
488,804
-
Current assets
-
74,056
33,679
Current liabilities
-
-
(13,679)
_
_
_
280,062
578,858
20,000
 Total
funds
£
273,543
408,554
177,456
(55,465)
_
804,088
Total
funds
£
296,060
488,804
107,735
(13,679)
_
878,920

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

17 NET MOVEMENT IN FUNDS

2025
Restricted/
Designated Unrestricted
endowment
funds
funds
(Note 18)
(Note 19)
(Note 20)
£
£
£
At 1 April 2024
280,062
578,858
20,000
Net outgoing resources
for the year
(21,420)
(109,388)
55,976
Transfers
-
55,976
(55,976)
_
_
_
At 31 March 2025
258,642
525,446
20,000

2024
Restricted/
Designated Unrestricted
endowment
funds
funds
(Note 18)
(Note 19)
(Note 20)
£
£
£
At 1 April 2023
301,528
528,297
20,000
Net (outgoing)/incoming
Resources for the year
(21,466)
(1,341)
51,902
Transfers
-
51,902
(51,902)
_
_
_
At 31 March 2024
280,062
578,858
20,000
 Total
funds
£
878,920
(74,832)
-
_
804,088
Total
funds
£
849,825
29,095
-
_
878,920

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

18 PERMANENT ENDOWMENT AND RESTRICTED FUNDS

Permanent Old Baptist
endowment Chapel Total
£ £ £
At 1 April 2024 230,023 50,039 280,062
Net expenditure
for the year (377) (21,043) (22,315)
_ _ _
At 31 March 2025 229,646 28,996 258,642

The permanent endowment fund represents the endowment of properties held primarily for the purpose of fulfilling the Charity’s objects of conservation and environmental improvement, in addition to a small investment.

The Old Baptist Chapel fund represents the net book value of the Old Baptist Chapel leasehold, which is held by the Trust, the purchase and improvement of which has been met from income funds restricted for that purpose.

19 DESIGNATED FUNDS

Wasting Properties
assets refurbishment Total
£ £ £
At 1 April 2024 15,996 562,862 578,858
Depreciation (note 11) (1,097) - (1,097)
Repairs and maintenance - (108,291) (108,291)
Transfer from unrestricted funds (note 17) - 55,976 (22,315)
_ _ _
At 31 March 2025 14,899 510,547 525,446

The wasting assets fund represents the net book value of fixtures, fittings and equipment used in the Trust’s activities, the original purchase of which had been met from unrestricted income funds.

The properties refurbishment fund represents resources set aside from unrestricted income funds to meet the Charity’s continuing and recurring obligations to repair, maintain, insure, preserve and improve the inalienable historic land and buildings in its care.

Docusign Envelope ID: DC5BC3F9-BDC1-4516-B36F-B2BD4CD9E0DD

ABBEY LAWN TRUST

NOTES TO THE ACCOUNTS

for the year ended 31 March 2025

20 GENERAL UNRESTRICTED FUNDS

The general unrestricted funds, taking one year with another, are maintained at a level of about £20,000 in accordance with the Charity’s reserves policy. The funds comprise all the net current assets of the Charity that are neither restricted nor designated, as follows.

£
Debtors 22,206
Cash at bank in hand 53,259
Creditors (55,465)
_
20,000

In order to maintain the level of unrestricted funds, the Directors of the Trustee Company have authorised an appropriate transfer from designated funds.

21 RELATED PARTY TRANSACTIONS

There were no related party transactions during the year to 31 March 2025.

22 EX-GRATIA PAYMENTS

No ex-gratia payments were made in the year to 31 March 2025.