ASCOT PRIORY REGIsfERED CHARITY NO. 217425 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 KNOX CROPPER
ASCOT PRIORY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Contents Page Charity Information Report of the Trustees Independent Examiner's Report ststement of Financial Activities Balan Sheet Notes to the Financial Statements
ASCOT PRIORY CHARITY INFORMATION Reglstered Charity Number: 217425 Prlory address: Ascot Priory Priory Road Ascot Berkshire SL5 8RT Trustees: The Reverend Dr P B Anthony The Right Reverend J M R Baker, Blshop of Fulham Mr J D S Booth (Chairman) Dr T A Trowles The Reverend Dr G Westhaver Clerk to the Trustees: St Andw Holborn Trading Company Limlted Bursar: St Andrew Holborn Trading Company Umited Bankers: TSB Bank plc 21 High Street A5COt Berkshlre SL5 7JE Independent Examiner: Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD Solicitors: Charles Russell Speechlys LLP 5 Fleet Place London EC4M 7RD Investment Managers: Evelyn Partners 45 Gresham Street London EC2V 7BG
ASCOT PRIORY REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2025 We are pleased to psent the annual reEM)rt and financlal statements of Ascot Prlory for the year ended 31 December 2025, The financial statements have been prepared in accordance wlth the accounting pollcies set out in note l and they comply with the Charlty's Trust Deed, applicable law and the requirements of the Statement of Recommended Practi, "Accounting and Reporting by Charities" issued by the Charity Commission. STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity now known as Ascot Priory was originally founded by a Trijst Deed dated 24 February 1874 and was previously known as The Society of the Most Holy Trinity of Ascot, Late of Devonport. In addition, there were schemes for the regulation of the charity made by the Charlty Commission on 2 May 1902 and 18 August 1911. The name of the Charlty was changed to Ascot Priory on 5 October 2000 and the new scheme replaced the fomier trusts of the Charity. The scheme of 5 October 2000 lays down detailed requirements for the governance of the Charity and the conduct of the business of the Trustees. The Trustees are obliged to have at least ordinary meetings In each calendar year. A further scheme dated 7 March 2001 conferred some additional powers on the Trustees. This scheme was amended by resolution of the Trustees under general powers conferred by s.280A of the Charlties Act 2011 on 24 November 2024 to enable the Trustees, amongst other matters, to sell the PrS0ry. The Charity is registered with the Charity Commission (registratlon number 217425). The Trustees of the Charity administer the Charity's property and assets for the beneflt and purposes of the Charity. Ascot Priory is a self-supporting organisation and is not dependent on donations or any sources of Intsngible income. Ascot Priory is not materially dependent on the se1 of unpaid volunteers. The income of the Charity is to be used to meet the costs of administering the Charity and managing its property and furthering the objects of the Charlty. St Andrew Holborn Tradlng Company Ltd acts as the Clerk for the Charity and discharges the duties of the Bursar. In addition to the ex offlcloTrustee (the Principal for the time being of Pusey House, registered charity number 1190385), the scheme states that there should be four co-opted Trustees. All four co-opted Trustee5 were re- appointed for a ftjrther five-year temi in 2022 at a special rneeting In accordance with the provisions of the scheme. New Trustees are briefed by the Clerk to the Trustees on matters including Trustee duties, powers and responsibilities. See note 17 for detai15 of transartlons wlth Trustees, who are considered to be the onW related parties of the Charlty. PUBLIC BENEFIT We confirm that we have referred to the guidance contained.in the Charlty Commlssion's general guidance on the subject of Public Benefit when reviewing the Charfty's alms and objectives and in planning future activities for the forthcoming year,
ASCOT PRIORY REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2025 OBJECTIVES AND ACTIVITIES The objects of the Charity a the furtherance of the religlous and other charitable purposes of the Church of England, in particular in accordance with the doctrines commonly known a5 Anglo-catholic, by such means as the Trustees think fit, and the relief of persons who are in need, hardship or distress or who are sick, c0nva1esnt, disabled or infirm by relievlng their suffering or assistlng their recovery. The Trustees may relieve those eligible for assistance by maklng grants of money to them directly or providing or paying for goods, services or facilities on their behalf or by making grants of money to other persons or bodies who provide goods, seNices or facilitie5 to those eligible for assistance. Our main goals for the year were.. To meet the Charity's objects. To explore the best use of the propety at Ascot in furthering the aim5 and objects of the Charlty. In order to achieve these goals, we held three meetings during the year to consider all matters relating to the administration of the Charity includlng the investment policy and the income arising from the property and investments held by the Trust. In particular we continued to work towards the potential sale of the Charity estate In such a way as to maximise the benefit to the Charity while still respecting the heritsge of the conventual property and burial ground. ACHIEVEMENTS AND PERFORMANCE We were delighted to be able to award grants totalling £104,400 12024.. £58,400). Our grants supported improvements to church and community facilities, adminlstrative support and academlc studies. The largest single grant was for £18,000. Dlscussions continued throughout the year on the disposal of the Charity's property. These dlscussions have been ongoing now for some tlme, but by the end of the year we were nearing the conclusion of the initial stsges of an agreement to sell the property. The Priory remains closed to the public as we progres5 those discussions towards sale in, we hope, the flrst half of 2026. Our investment assets have been invested in accordance with the powers available to us. We have delegated to the discretion of investment managers the acquisition and dlsposal of inve5tment5 for the Charity in compliance wlth the investment policy we have laid down. 2025 was for us, as for vlrtually all other investors a mixed year for investments, but we eventually ended the year with an investment whose valuation wa5 above that for 2024. Rentsl income continued from the care home, which leases the majorlty of the Priory estste. The rental income means that we are able to meet our responsibilities in respect of the maintenance of the fabric of the buildings and the Maintenan of the grounds. A very dry summer and wet autumn and winter put many of our mature trees under stress and a great deal of tree surgery was neSary to secure the health of the trees and make the grounds safe. OBJECTIVES FOR FUTURE YEARS The main objectives for the coming year are.. To contlnue to provide financial support for the prlmary objects of the Charity. To complete the sale of the property at Ascot in furthering the aims and objects of the Charity.
ASCOT PRIORY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 FINANCIAL REVIEW The Charity holds listed investment5, wF,.Ich are professionally managed, and the land and buildings of Ascot Prlory. No value for the properbes is Included In the accounts a5 they are regarded as heritsge assets. In the year ended 31 December 2025 an amount of £16,753 12024.. £23,965) was incurred on paIrs, maintenance and improvements on the properties. These have been included under the heading of maintenance and restoration in the Charitable Artivities. The Trustees continue to VIeW the options available for the future use of the Priory to support the long-term objectives of the Charity and for this purpose £6,216 (2024,. £18,816) was incurred in professional fees. The market value of the listed investments at 31 Detrmber 2025 was £2,467,060 (2024.. £2,074,280) against cost £1,546,418 (2024.. £1,495,126). In addition, cash available for investment at 31 December 2025 totalled £27,025 {2024: £28,898). Funds available to the Charity arlse mainly from dividend income derived from the investment assets, rents received, other interest on bank deposit5 and some small donatlons. Such funds have been applled principally to meet the cost of ensuring the furtherance of the Catholic traditlon within the Church of England, maintaining and insuring properties held by the Trustee5 and meeting the administrative costs of the Charity. The Charity Is not involved in fund-raising and is not dependent upon particular donors. The Charity had expenditure for the year of £292,887 (2024.. £261,723). Realised and unrealised gains on Investment assets totslled £363,113 (2024: £135,437). The Trustees belleve that the assets available to the Charity are adequate to fulfil its obligation5 in the short temi. However, if the Trustees fèll to identify a purchaser for the property in the foreseeable future, considerable malntenance work to the property is expected to deplete investments, especially in the Charity's unrestricted funds. It Is in this context that the Trustees are giving consideration to the best future use of the Charity'5 property. INVESTMENT POLICY AND REVIEW OF INVESTMENTS Investments held within the endowment fund a managed by Evelyn Partners to provide a balance of income generation, for general purposes, and capital growth in ex55 of inflation over the long term. The investment pollcy in respect of the investments held within unrestricted funds is to dellver maximum capital growth. The value of the total investment portfolio increased by £396,967 (2024.. £163,274). The unrealised and reali5ed gains and losses on investment assets totalled £363,113 (2024.. £135,437). RESERVES Ascot Priory is endowed with a Grade Il listed church and other bulldlngs of great beauty which require continual repair and maintenance. The Trustees consider it would be appropriate to hold reserves to cover unexpected costs in relation to the upkeep and maintenance of the Priory and related buildings and also to cover approximately 6 months, underlying runnlng costs of the Charlty, which are estimated to be in the region of £170,000. The Trustees regard the reseNes of the Charity as the assets held without restriction, excludlng tangible assets held for the charity's own use which totslled £529,682 at the year end (2024.. £464,622). RISK MANAGEMENT The Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the operatlon and finances of the Charity. The Trustees are satisfied that Systems a in place to mitigate or lessen exposure to the major risks faced by the Charlty.
ASCOT PRIORY REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 DECEMBER 2025 The principal area of risk to the Charity is its ability to generate sufficient income from investments, rental Income and retreats to enable the Charity to fund the necessary maintenance and repair costs relating to the fabric to enable the continued use of the Priory to meet the primary objectives of the Charity. The Trustees have considered these matters in detsil in the course of their meetlngs during the year. The Trustees also ensure that the Insuran cover relevant to the Charity is maintalned at an appropriate level and obtsin regular professional advice on this matter. RESPONSIBILITIES OF TRusfEES The Trustees are required to prepare accounts for each financial year whlch glve a true and falr view of the stste of affairs of the Charity and of its financlal activities for that period, In preparing those accounts the Trustees are required to: Selert suitable accounting policies and then apply them conslstently. Make judgements and estimates that are reasonable and prudent. State whether applicable accounting Standards and statements of recommended practice have been followed, subject to any departLJres disclose and explained in the accounts Prepare the account5 on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping accounting records which disc105e with reasonable accuracy the financial position of the Charity and which enable them to artain the financlal position of the charity and to enable them to ensure that the flnancial statements comply with the Charitie5 Art 2011 and the applicable Charities (Accounts and Reports) Regulations. They are also re5pon5ible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie5. INDEPENDENT EXAMINERS The reappointment of Knox Cropper LLP as independent examiners wlll be put to a future Trustees, meeting. Slgned on behalf of the Trustees. Date: 24 June 2026 JDS Booth, Chairman
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF ASCOT PRIORY I report to the Trustees on my examination of the accounts of Ascot Priory for the year ended 31 December 2025 whlch comprise the statement of Financial Activities, the Balan Sheet and related notes. This report is made to the Trustees, as a bodyj In accordance with the terms of my engagement. My work has been undertaken so that I might carry out an Independent Examination of the financial statements in accordance with the General Directions given by the Charity Commissioners, To the fullest extent pemiitted by law, I do not acpt or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body for my work or for this report. Responsibilities and basls on report As the Charity Trustees you are responsible for the preparation of the accounts in accordantr with the requirements of the Charities Act 2011 ('the ACYI. I reFKJrt in respect of my examination of the Charity's account5 carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Art. Independent examlnerfs statement Since your Charlty's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountsnts in England and Wales which is one of the listed bodles. I have completed my examination. I confirm that no material matters have come to my attention In connection with the examination giving me cause to believe that in any materlal respect.. accounting records were not kept in respect of the Charlty as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicab5e requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fair view, which is not a matter considered as part of an Independent examination. I have no COnrnS and have come across no other matters in connectlon with the examinatlon to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached, Greg Stevenson, F.C.A. Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London, EC3A 2AD 2026
ASCOT PRIORY BALANCE SHEET AS AT 31 DECEMBER 2025 2025 2024 Notes FIXED ASSETS Tangible assets Investrnents 65 2,494,085 86 2,097,178 io 2,494,150 2,097,264 CURRENT ASSETS Debtors Cash at bank li 2,517 124,252 2,415 173,420 126,769 175,835 CREDITORS: Amounts falling due wlthln one year 12 {58,141) 154,089} NET CURRENT ASSETS 68,628 121,746 NET ASSETS 2,562,778 2,219,010 FUNDS Endowment funds Restricted funds Unrestricted funds 13 14 2,033,031 1,698,844 55,418 464,748 529,747 2,562,778 2,219,010 Approved by the board of Trusiees on 24th June 2026 and slgned on its behalf by- The notes form part of these financial statements. These financial statements have tRen subject to independent examlnation. See report on page 6.
Page | ASCOT PRIORY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES status of the charity A5COt Pory1$ an is an unincorporated charity, registered with the Charty Commiss1on with registered number 217425. The Charity's registered address is Ascot Prioryi Priory Road, Ascot, Berkshire, SL5 8RT. A de5criptlon of the Charity's operations and prinopal activity.es can be found in the Report of the Trustees. Basis of Preparation and Assessment of going concem The accounts have been prepared under the historical cost convention with emS recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. They have been prepared in accordance with the Ststement of Recomtnended Prattl Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standards applicable In the UK and Republic of Ireland IFRS 1021 Second Edition issued in OLtober 2019 and the Financial Reporting Standard applicable in the United Kingdotn and Republic of Ireland (FRS 102 March 2018) and the Charities Att 2011. The accounts have been prepared to give a 'true and fair view, and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a'true and tsir view,. This departure involved following Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR51021 rather than the Accounting and Reporting by Charities Statement of Recommended practi effective from 1st April 2005 which has sin been withdrawn. The Charfty constthtes a public benefit entty a5 defined by FRS 102. The Trustees consider that there are no uncertainties about the Charity's abilty tts ConnUe a5 a going conorn. Income Dividends and other investment income are credlted on a receivable basls. DesIt interest and rental income are credited on an accruals basis. Investment income arising on holding within the endowment funds is available for use by the Trustees to rneet all the objects of the Charity and is therefore accounted as income in the unrestricted fund. Expenditure Expenditure 15 recognised once there is a legal or construrtive obligation to make payment to a third party. It 15 probable that settlement will be required and the amount of the obligation can be measured reliably. Costs are alIcated according to function and hence to the approprlate category. Where expenditure related to more than one functional category, a reasonable method of allocationls determined. Operatlng lease income Rentals reiVed on operating leases are credited to incoming reSoUS on a straight-line basi5 over the term of the lease. Tanglble fixed assets Land an Land and building are not recorded in the accounts as (al they are inalienable and historical in natu and cannot be disposed of except with the written consent of the Charity CoThmisslon,' Ib) reliable cost infom)ation is not available and conventional Valuaon approaches lack sufficient reliabllity,. and Ic) the costs to include would far exceed benefits. Part of the freehold land and buildings are leased to an operation supplyirTrg accommodatlon and services to the aged. Due to the restricbons on realising the value of the propety, the leased element of the propety has not been classified as investment property and measured at fair value. Fixtures fittin Depreaation is provided to write-off the CDSt less estimated residual value of suth tangible fixed assets over useful life of 5 or 10 years in equal instalrnents.
ASCOT PRIORY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUNTING POLICIES (continued) Flxed asset Investments The Charity's investments con51St On of quoted securities. Initially they are recognised at their transaction value and subsequendy measured at their fair value as at the balance sheet date Lising the closing quoted market price. The statement of financial activities includes the net gains and losses arising on the revaluations and disposals throughout the year. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequentto the fit day of the firiancial year. Unrealised gains and losse5 are calculated as the difference between the fair value at the year end and their carrying value. Funds (i) UntsstrtrtedFunds.' The unrestrictsd fund may be used by the Charty in furtheran of Its charitsble objects at the discrefjon of the Trustees. (li) EndowmentFunds.' Permanent endowment funds are restrictsd capltsl funds where there is no power to convert the original capital to incorne. Income generated from permanent endowments Is available to be used in furtheran of the Charity's objects, subject to any restrittions impo*d by the donor. (iii) RestnctedFunds.' Restrirted funds are funds which are to be used in accordance with specific restrlctlons Imposed by donors or which have been rald by the Charity for particular purposes. The aim and use of each restrirted fund is set out in the notes to the financial staternents. Recognltlon of Llabilities Llabilities are recognised as soon as there is a legal or constructive obligation commltting the Charity to pay out resources. Investment Income 2025 2024 Interest recelved Income from investments listed on a recognised stock exchange 1,353 46,598 1,022 45,599 47,951 46,621 Other Trading Artivltles 2025 2024 Income from properties not recorded as investments Sundry hire income 225,591 225,591 225,591 225,591 Raislng Funds 2025 2024 Investhent Management fee5 Support C05t5 (Note 71 11,089 1,767 17,408 2,484 12,856 19,892
Page | 11 ASCOT PRIORY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Charltable Activlties Maintenance and Restoration of the Priory Prlory Actlvities Grant Making Total 2025 2025 Stsff costs (Note 8} Establishment expenses Insuran Repairs and maittsnance Grant5 (Note 6} Depreciation Support costs (Note 71 16,885 63,746 14,887 16,885 63,746 44,660 16,753 104,400 21 33,566 29,773 16,753 104,400 21 13,012 6,336 14,218 108,551 52,862 118,618 280,031 Maintenance and Restoration of the Priory 2024 Priory Activities Grant Maklng Total 2024 Staff costs (Note 81 Establishment expenses Insuran Repairs and maintenan Grants (Note 6) Deptiation Support ctssts (Note 7) 16,299 54,119 13,939 16,299 54,119 41,816 23,965 58,400 29 47,203 27,877 23,965 58,400 29 20,466 12,573 14,164 104,852 64,415 72,564 241,831 Grants Pald 2025 2024 All Salnts, Weston-super-mare Bishop of Beverfey Forward in Faith Our M05t Holy Redeemer Pusey House St Benet, Kentish Town st James Garlickhythe St John, Kensal Green st Leonard, South Stoke, Arundel St Lukes, Wallsend st Matthew PCC St Peter and St Leonard, Horbury St Peters London Docks The Parish of South with New Hinksey The Parish of Swlndon New Town The See of Owesty 6,500 5,(X)O 10,000 15,000 6,000 13,500 17,(M)O 18,000 5,000 2,000 5,000 2,500 2,000 5,000 10,000 5,000 15,000 15,000 Grants to Individuals 2,900 2,400 104,400 58,400
ASCOT PRIORY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Support Costs 2025 2024 Clerk & accountancy Office & sundry costs Legal & professional fees Governan costs 24,741 206 6,216 4,169 26,390 710 18,816 3,771 35,332 49,687 Governan cts includes amounts payable t.o the Independent examiner for the independent examination of £3,956 {2024'. £3,771). Staff costs 2025 2024 Wages and salarfes 16,885 16,299 16,885 16,299 2025 No. 2024 No. The average number of employees wa5.. No employee earned in excess of E60,000. No Trustees recelved any rernuneratlon during the year. See note 17 for details of payments made to Trustees in respett tsf servlces pthded by organlsatlons where they are Trustees. Tanglble Flxed Aets Flxtures, Fittings and Equipment Cost As at l January 2025 Additions 147,234 As at 31 Dember 2025 147,234 Accumulated depreciation As at l January 2025 Charge for the year 147,148 21 As at 31 DemIr 2025 147,169 Net book value As at 31 December 2025 65 As at 31 December 2024 In addition to the fixed asset5 included in the balance sheet, the Charity owns and continues to have use of other fixed assets, principally freehold land and buildings. These assets have not been included in the account5 as disc105ed in Ntste 1.6. The freehold land and buildings, which date back to the mid-19th Century, are insured for a sum of approximately £11,650,000
ASCOT PIUORY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 io. Fixed Asset Investments 2025 2024 The movement on fixed asset investments Compse.. Market value of UK quoted invesiments at l January Acqui51tions at cost Disposals Proceeds Unrealised gainslllossesl Realised Gainslllossesl 2,074,280 139,344 (109,6771 344,523 18,590 1,886,711 267,345 {215,213) 141,521 16,084) Market value of UK quotsd invesiments at 31 December 2,467,060 2,074,280 Cash held ès part of the investment portfolio 27,025 22,898 2,494,085 2,097,178 Historical cost of quoted investrnents held at the year end 1,546,418 1,495,126 The carrying amount of financial assets measured at fair value through incorne and expenditure within Fixed Asset Investments is £2,467,06012024'. £2,074,280). ii. Debtors 2025 2024 Dividends and interest re1vable 1,823 694 1,807 608 Prepayments and accrued Income 2,517 2,415
Page | 14 ASCOT PRIORY NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2025 12. Creditors: amounts falllng due withln one year 2025 2024 Accruals and other creditors Taxation and Social Security Grants Payable Deferred income 9,543 10,291 6,000 42,598 43,798 58,141 54,089 Deferred incorne represents rentsl income recebved in advance. The amount of income deferred in the current year is £42,598 and the amount released from the previous year is £43,798. 13. Endowment Funds Gainsl(Losses) on Investments Balance as at 01101125 Expended Resources Balance as at 31112125 Permanent Endowments.. Fund No. I la) Fund No. 2- (bl 1,599,422 99,422 19,773} {8L81 337,293 7,485 1,926,942 106,089 1,698,844 {10,591) 344,778 2,033,031 Gainsl(Losses) on Investments Balance as at 01101124 Expended Re50urce5 Balance as at 31112124 Permanent Endowments.. Fund No. l (a) Fund No. 2- (bl 1,496,185 98,489 (15,413) 11,219) 118,650 2,152 1,599,422 99,422 1,594,674 {16,632} 120,802 1,698,844 (al The permanent endowment fund No. I was first mentioned in a legal dUment of 1883. Income from the endowment is to be used to meet all costs properly incurred by the Trustees in the objects of the Charity. (b) A permanent endowment fund exists Sn $pert of the property at Ascot Priory and was first mentioned in a legal document of 1874. The document notes that the property was to be'used and occupied rent free by the members of the swiety In order to carry out the puwses and objects of the Society,. It was initially referred to as the 'Unknown Donors account,. Income derived from the endowment is Used on the same basis as the No. I fund.
Page | 15 ASCOT PRIORY NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. Restrlcted Funds Balance os at 01101125 Balance as at 31112125 Income Expenditure Priory Income Fund {al 55,418 225,591 1281,0091 55,418 225,591 1281,0091 Balance a$ at 01101124 Balance as at 31112124 Income Expenditure Priory Income Fund (al 74,113 225,591 1244,2861 55,418 74,113 225,591 1244,2861 55,418 la) The Charity's freehold land and buildings constitute funcbonal permanent endowment with the income generated from its leasing being restrirted to the flrst of the Charity's object5, being the furtherall of the religious and other charitable purposes of the Church or England, In particular in accordan with the doctrines commonly known as Anglo-catholic. 15. Analysis of Net Asts by Fund Unrestricted Funds Restricted Funds Endowment Funds 2025 Total Funds Tangible fixed assets InvestmerTrts Current assets Current liabilitles 65 461,054 126,769 158,14L) 65 2,494,085 126,769 158,141) 2,033,031 {4,357) 529,747 2,033,031 2,562,778 Unrestricted Funds Restricted Funds Endowment Funds 2024 Totsl Funds Tangible fixed assets Investments Current assets Current liabilitie5 86 393,977 70,889 12041 86 2,097,178 175,835 (54,0891 1,703,201 104,946 149,5281 14,357) 464,748 55,418 1,698,844 2,219,010 16. Taxatlon Ascot Priory is aptert by the Inland Revenue as a Charity and the Trustees are of the opinion that it is entided for the current year to the exemptions provided by Section 521-536 Income Taxes Act 2007 and section 256 of the Taxation of Chargeable Gains Att 1992. As a Con*qUen, no provislon for taxation is regarded as relevant.
Pdge | 16 ASCOT PRIORY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 17. Related Parties The Rt Revd Jonathan Baker is Chairrnan of the St Andrew Holborn Guild Church Counal. St Andrew Holbom Trading Ltd undertakes the administration and clerk services of Ascot Priory and the cost incurred amounted to £24,492 12024.. £26,052) In addition, £213 {2024'. £1991 was charged by St Andrew Holborn Trading for the provision of meeting facilits'es. At the year end £Nil12024'. £Nil) was owed to St Andrew Holborn Trading l.td. The Reverend Dr George Westhaver is the Principal of Pusey House to whom grants totallbng £17,000 12024.. £13,500) were awarded (luring the year. No Trustees were reimbursed expEn5e5 during the year12024'. none reirnbursed}.