REGisfERED CHARITY NUMBER: 229216 Report of tb¢ Trustees and UuAudlt¢d FinAmell Statements for the Yur Ended 31 December 21n3 THE ORDEROFST BENEDIAT ALTON ABBEY B20 LIMI Chartered Certified Accounlants Charwell House Wilsom Ri)d Alt Hamh1[e GU34 2PP
THE ORDER OF sr BENEDicf AT ALION ABBEY Contents ofthe Financial Ststements ror the Year Ended 31 December 20 g¢ Rewjrt of tht Trnstee4 I to 3 Independent £ximiner's Rert ststemertt of FSn•ncil A¢liviti¢s ststemtnt of finacil PoSitth Notes to the Flnonclal St8lements 7 to 12 DetAiled StAi¢ment of 1nntIl Activities 13 10 14
THE ORDER OF ST BENEDicf AT ALTON ABBEY Report of the Trustees for the Ye•r Ended JI D&¢thber 2011 The tTUStee5 pre5eni iheir rep)rt wilh the fitwcial y2temKn¢S of the d)arity for th¢ year ended 31 De£emE¢r 2023. The trusiees have adopted ¢he provisions of Ac¢ountiThg and Re)rtIng by Chan"ties.' Ststenxnt of Rttommwded Prn¢tice dpplicable io charilies preparing their ac¢ouThts in A)rd¢t with the Fi)uncial R¢tATrrting Standard applicable in the UK and Republic of Ireland IFRS 102) leffextive l January 2019)- OWECTIVES AND AcfiviTIES Obj¢ctives #nd aim5 Alion Abbey 15 re815tered Ls a charity with the Charity Commission with the object of 'the purposes of the Order of Si Benedi¢t and Ihe mainnance of destitute and infimi nxrchant seamen houxd li the Abbey, Alton. Hampshire,. Aeeording lo the Constiiution the Obj of the Order is to 'exist to allow th¢ living of the MC$t1¢ vocatiort. and wiine$5 w monasti¢ values and insi8hts in the Church of Engla. The pensionary for M¢rchant Seamen closa in 1989 bui the Community lInUt to administer th¢ Se8men'5 Friendly Society of Si Paul. for ¢h¥ritable and religious work arTh)ng Mctchant Sailors of any nfition and th¢ provision of attommoddtion for retired sailors. The graves of over 2((> merchan¢ sailors are kn be found in the Abb¢y eemery. Th¢ Community aLw undertake sucth oth¢r ClXFKJral works of nxrey as opfftnity sh1 The Communily admitted Oblaies {men living ac¢ordin8 to an indivKILd Rule of Life rO¢d in the 8¢nedi¢tin¢ eth05 and charisms): in ihe cvrrenl fom. thi5 has been urmkrfaken since the mid 1960$. Oblai¢s live in the world with oll the duties and re5poDsibiliiie5 of ihe secular stsie. hnd In the coniexi of thei¥ famkly life. Many of the Oblaies Are cleT8y of Ihe Church of England whose association wilh th¢ Abw roots and strengthens their spiritual life to the benefit of their F4ri$hes and conBr¢gotiryts. In all a¢tivilies, the m¢mbers of the Ceffimunity are Mi1ful of the Safe8utrdin8 Princip1¢5 that make the life and work of ihe Abbey a saft and nourishin8 environmeffl for all ncerned in its aciivitie5. The provision of, Jnd compliance with, ¢he statements Bnd policies of re&ardIn0 is rnulinely monitored and ass¢ssed in ¢oopera¢ion with the Diocese of Winchester Signifieant fictivitlej During ihe period of these accounts, the Chariry h¥ eoniiDugJ to maintsin the Abt¢y as the h(xne some of th¢ Life Profts3ed Monks. The C(xnmunity continu¢s lo align itself wilh the Objectiv¢s of the Seamen'5 Friendly &Kiety of Saint Paul, and to be resdy to undertake works on behalf of th So¢iety: rouiine work to this end is in administerin8 its Trust aciivity, tending the grnwes of the dec¢&sed. and bein8 prepared to make grants as appIltIonS ar¢ made for aid by sailorn QT their representalives. trIng the course of this year the trUceS have been involved in discussions to facilit2te th¢ dispersal of the monks Ln r¢sidence with the ultimaie aim of disposin8 of the Ably sit¢. Increasing infimity and the la¢k of suitable me putting themselves fon¥ard tts join the Community have mth it unr¢81isiic for the exi51ing Comrnunity to continue in r¢siden¢e. Work has been done to amend the CrbltIon in ¢)rder to Ver the n¢w situdion with monks fK) longer in residerte. Safeguarding requirements have been addY¢s%d through dn end national checking and etifi¢atiw procedures during the Course of the year, and MkS look forward io attending diocesan refresher Tse5 during the coming year to ensure our 8LH)d praclicc in safeguarding those who me io the Abw. P8ge I
THE ORDER OF ST BENEDICT AT ALTON ABBEY Report of the Trust¢e5 for the Ye8r Etyded 31 Ik£ember 2023 FINANCIAL REVIEW Re5erve5 policy The buildings ar other fixed awts of the charity ale rwuiffjj in for li to C4rry on its ststed charitsble activities. The inve5¢ment portfolio is mainlAed in order lo supplement other Incorne of the ¢harity ¢0 mect those objectives and therefore the tnjstees have da¢[Min ihat fuls. equal to ihe net value of fhxed assets plus the markd value of the portfolio 5htsuld designated. As at 31 D&emE¢r 2023 this amourf¢d to £3.574,014. In order to enslwe that day tts day committ)nts can rne( li is the mCeS policy to maintsin a ba1ce on unresknaed rts¢rves whi¢h equates to leLst three months of unre5triLJ payments. At 31 t¢ber 2023 this eque5 10 £27.048 and the general fund and cash at bank ai 31 Decembet 2023 exceeded th15 fi8111e. STRucfuRE.GOVERNANCE ATID MANAGEMEP4T Governing doeument The ¢ommunity founded as lh¢ Order of St Paul by Charle5 Hopkins and the land at Bttch was purchased in 1895. It is wrLStituted under a trust deed dated l May 1925 (as &meThj OD 17 Dlber 19801 and by a scheme sea5ed on 2 S¢ptember 1982. 11 is re8iStered &% a charhty with the Charity Commission. Trustees The iwsiees who held office during financial year and at the da* of this port are s¢t out on pa8e l. The Abbot for th¢ time bein8 of the Order of St Benedi¢i is an ex officio trustee 8nd other trustees are appointed by the tTUSWS. Each trustee alitnds the meetin8s held at lea4 four times & yeu. The tntstees arr reswnsible for managing the 'temporalities'. that is the secular properties and possessions of the ONleT. in wnjunciion wlth the Abt4)t and in 8¢¢ordance with the ¢rusi deeds. In ¢a¥ryin8 Out the trusts W oui in the trw%i ded5 the thjstees shall act under the direclion of the Abbot. RF.FERENCE AND ADMINISTRATIVE DETAIiS Regijttred ChArlty Jumber 229216 PrincipAI addre Alton Abbey AbY Road Beech Alwn GU344AP Tru$tee8 DomGHill Dom A John50n DNPrice Dom A Shobro)k Dom T Bavin Dom A Witherspc T Abraham Rev Canon T Pike Rev J Evons Independent Exarniner B20 Lirnited Chart¢r&l Certified Accountsnts Charwell House Wilsom Road Alton Hampshire GU34 2PP
THE ORDER OF sr BENEDicf AT ALTON ABBEY Report of the Trnstees for the Year Ended 31 December 21123 Approved by orderof the boArd of trustca Thk.. .. and si] on its behalf by.. Trusiee Page 3
Independent Examiner's Report to the Trnste¢s of THE ORDEROFsf BENEDICT AT ALTON ABBEY Independent tMiner'S report to the tru¢¢8 ofTHE ORDER OF ST BENEDICT AT ALTON ABBEY I report to the ¢harity tTusiees on my examinaiion of the accounts of THE ORDER OF ST BENEDICT AT ALTON ABBEY (the Trust) ft)rthe year ¢nded 31 DeCT 2023. Responsibiliti¢$ 8nd basis of report As the charity tTlteS of the Trust you are reswjnsible for the preFwation of the accounts in accordanee with the requirements of rhe Chariiie5 A¢t 201 I Cthe Act.). I report in re$r¢ of my examination of the TrusV$ w)unts carried under Wion 145 of the Act 8nd in caryying out rny examination I have followd 311 applicable Dirttuorts given by the Charity Commission undu sl0n 145(5Xb) of the ACL Independent exAmlnerfs stgt¢ment I have completed my exarninavon. I confirm that no material matt¢rs have wme to my attention in eoMe¢tion with the examination giving me cause to FKlieve thot in any m&rial re5Pta'. ccouniin8 records were kept in restrtt of the Tru4 requir¢d by Seaion 130 of the Act: ¢x the accounts do not aecord with Ihose recorfs: or the accounts do noi comply with the applicable Tequirements concerning the fcvm and content of a¢tounts set out in the Chariiits (A¢¢ounts and Rep)rfs) Regulaiions 28 other than any wuirement the hccounts give atrue and fair view which is not a matt¢r CL97{red as prt of an indepthi examinati. I h&ve no Conten and h&ve corne acm5s no other m&ttrrn in cOnnlon with the exarnination to whi¢h attention thould be drnwn in this report in order to enable a proper Undeing0[ the re*hrJJ. MRSCS SCULL BA FCCA B20 Limited Chartered Certified Aecounlants Charwell HoLSS¢ Wilsom Road Alton Hampshire (JU34 2PP P8ge 4
THE ORDER OF ST BENEDicf AT ALTOIY ABBEY Stxtemeni of Fingncial Activities for ¢he YeAr Ended 31 Dec¢mber 2023 31.12.23 Total 31.12.22 Total fitnds Unr¢5triauI R45kn(ts1 fimds fund Notes INCOME AND ENIKIWMENIS FROM Donations and l¢gacies 19.174 19,174 71,165 (hher tr8ding acuvities Investmeni income 10,000 29,176 10.01 29.176 10.000 25,810 Total 58,350 38.350 106.975 EXPENDITUREOP4 ChhritAble aetivitie Minislly Costs Governance 110,248 40.475 110.248 40.475 141.990 15.607 Totgl 150,723 1s0,n3 157,597 Net 8&in{lo5} on invesunents 1.080 1,080 {101,344) iYET INCOMEIIEXPENDITURE) (91293) (91293) 1151,966) RECONCILIATION OF FVNDS Total funds broughi forward 3,815.976 3,815.976 3.967,942 TOTAL TrUNDS CARRIED FORWARD 3.724,683 3.724.683 3.815,976 The n¢J*S fomi w ofthese fJnan¢i81 statrThei)ts Page S
THE ORDER OF ST BENEDICT AT ALTON ABBEY St*t¢meni of financial Positio 31 D¢tember 2023 31.12.23 Total funds 31.12.22 Totsl filnds Unre5triLad Re5tri¢t fuThJs Notes 'IXED ASSETS Tangible assets Heritage assets Investments 2,838,103 38.421 697.4 2,838,103 38.421 697.4 2,841,732 38.421 721,718 3.574,014 3.574.014 3,601.871 CURRENT ASSETS Stocks Debtors Cash 81 bank AfKI in hand 410 25.(M)3 130.087 410 25.964 192.527 410 25,003 130,087 155.5CKI 155.51)0 218,901 CREDITORS Amounts falling due within one y¢pr 10 (4,831) 14,831) 14,796) ET CURRENT ASSETS 150.669 150,669 214,105 TOTAI. ASSETS LESS CURRENT LIALIILITIES 3.724.683 3.724,683 3.815,976 NET AssgTS 3.724.683 3,X4.683 3,815,976 FUNDS Unresth¢ted funds 3,724,683 3.81 S,976 TOTAL FUNDS 3.724,683 3.815,976 were apwved by ihe Bcwd of Trust¢¢5 authoristhl for iss on The financial staiements ..I.I. 2QA¥oThJ were 51wryl uri ILS bthiifby. Trustee TTLlSt¢e The notes fomi Tmrt of these financia] statements
THE ORDER OF ST BENEDICT AT ALTON ABBEY N(ptes to the FinanciAI Staiements for th¢ Year Ended 31 Decernber 2023 ACCOUNTING POLICIES Basi8 ofprtparing the financial $tlem¢nts The finar5cial stsiements of the charity. which is a public benefit entity uThler FRS 102, have been ptyar&J in accordanc¢ wiih the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Siatrrneni of Recommended Praelice applicable io chatiiies prwing their accounts in a)rdance with th¢ Financial Reponing Sthndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191,, Financial Rew)rting Standard 102 The Financi ReFKJrting Stsndard appliuble in the UK and Republic of Ir¢land' and the Charities Act 2011. The firthnciai yatem¢nts have been prep8red under the historical cost nventloll. Wlth th¢ exc¢Oi¢)n of investsnents which are iNclth * market value, as modified by the revaluation of certain 8s5Cts. Flnntl#l reportillE stsnd¥rd 102- redy¢ed disclosure ¢xemptions The Charity has taken advan¢ag¢ of th¢ followin8 dixlosure exernpuon in preparin8 these financial statements. as rMitted by FRS 102 The Financi Rep)rtin8 Stsrthrd applicAbl¢ in th¢ UK and Republic of Ireld.: the requirements of SKliort 7 Strteml of Cash Flows. Incom¢ All income is rccognised in the Siatemeni of Financial Aaivilies onee ihe ChArity has entrtlem¢nt to the fund$. it is prob&ble thA¢ the income will be receiv¢d the amowit can bE measured reliably. Gift aid is reco8nised and di105¢ within dcwtions for the perityj in which entidement ari5¢S. Expenditure Liabilities aT¢ recwised as exF¢ndItU as soon as thue is a legal fx constrliVe obliwion committin8 the charity to Ihot expKnditure, it is probable that a tsan5ftr of vxonomic beneflts wll be rn4UiTed in settlement and ihe amount of the obligation can b¢ measuTryI reliably. Expenditure is o¢cowiir)J for on an awrud]s basis and hos been ¢l&ssified under heing$ that 8ggre8ate all CO related io the ute80ry. Where eosts unnot be directly aitributed to p#rti¢ul¥ heodin8s they have b¢th allwated to aaivities on a basi5 consis¢eTht with the use of resources. Grants offered subjttl io conditions which have been nttt at the year end date are nottsj os & commitment bul not accrued 0$ exFendiiure. TAniible fixed Assets Depre¢iation is provided at the following artnual ratrs in order to writ¢ off eath #ssel over its estimated u5¢ful Freehold proF¢t1y Fixiures and fiitings Motor vehicles Where buildings are mainuineAJ to gjch a 5thndard thfit their estirnatrd rtsidujl vdu¢ is not less ¢IHn the rev&lu¢d amount then no deFrt¢iation is as it in Considej to b¢ material, aThJ no dewxiatioD is provid1 freehold land. in IordIN¢¢ with the proFrty l(Phon cost 25Yo on reducing FAlanc¢ Stock Stocks are valued at the lower of CO and net re•li58bk valu< aiknr makin8 due lOW¢e for ob501ete and slow moving i¢¢nis. T#x&tion The charity is exemM from tsx on its charitable tiviti&s. Fund sccounting Unre5tri¥Xed funds Ix used in awirdance with the charitsble objectives the discretton ofthetwstees. continud...
THE ORDER OF ST BENEDJcf AT ALTON ABBEY Notes to the Finaurial Statements- ¢ontinued for the Year EDded 31 Dec¢mber 2023 ACCOUNTING POLICIFS- contiDu¢d Fund 8ttouDtin% Restricid fvTrJs can only be used for particular re5tri¢xd purposes within the objects of the charity. Restrietions arise when specifiul by the donor or when fuNJs are rnisd for porticular r¢5tricted pJrpose5. Further explonalion of the n8lure and purp)s¢ of exh fi¥wJ is included in the ncrfes to the financial statemts. Hire purchgS¢ gnd leasing coThmitrnents Rentals poid under operdting leases are ¢h4r8tsJ w the Statrment of FInala1 A1vill¢S on & strai8ht line basis over ihe rIOd of the lease. OTHER TRADING AcfiviTIES 31.12.23 31.12.22 Charges for seryices provid1 10.000 10,( INVESTMENT INCOME 31.12.23 31.12.22 vidends Deposit aw)unt interesi 27,53S 1,641 24,966 844 29.176 25,810 TRUSTEES, REMUNERATION AND BENEFITS There were Th) ¢wstees' remynerntion or other bertfits for the year eth 31 December 2023 n¢* for the year ended 31 December 2022. TruJtttJ' eypenJtJ ring the year under review travel expenses w¢re reimbursejj enable Thi$tees, inelL¥Jin8 the relwted monks. to att¢nd m1$. Page 8 Continued...
THE ORDER OF sr BENEDICf AT ALTON ABBEY Notes to the Finantiil Statements- continued for the Year Ended 31 December 2023 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold Motor vehicle5 Total$ COST At l January 2023 Disposals 2.835.730 176.254 23.221 (14,360) 3,035,205 (14,3) At 31 DKember2023 2.835,730 176.254 8.861 3.020,845 DEPRECIATION At l January 2023 Charge for year Eliminaia (XL disposjl 22,450 193 {14,360) 193,473 3.629 114.3601 3,436 At 31 December 2023 174,459 8,283 182,742 NET BOOK VALUE At 31 Ikcemr 2023 2.835.730 1.795 578 1838.103 At 31 December 2022 2.835,730 5.231 771 2,841.732 HERITAGE ASSETS The H¢rit88e As*ts consist of the endowed vesffiKnts and liirny. FIXED ASSET INVFSTM8rffs The Charity owrs l(NPh of th¢ i>sued share eapithl of i tradin8 comp•ny. Abbey Suppli¢5 Limitgj, which is now domiant. The a1vill¢S were previously Immcrial compJTed to the total activities of the charity and accordin8ly the charity hod taken advanta8¢ of exemption from Preporing con5011trd a¢nts. The capital arMJ re5¢rves &[ 31 Dc¢embeT 2023 ore shown at IxK)k value. The rnrk value of listed inveslments ai ia Janufvry and 315t Decunber 2023 is provided by the Charity's portfolio manager Quilier Cheviot at ¢lo$in8 Pritt. STOCKS 31.12.23 31.12,22 Stock5 410 410 Poge 9 continu...
THE ORDER OF %r BETriEDicf AT ALTON ABBEY Notes to the Fin¥theiAI Stalernehts- covtinlled ror the YeAr Ended 31 Decemb¢r 2023 DEBTORS-. AMOUNTS FALLING DUE WITHIP¥ ONL YEAR 31.12.23 31.12.22 O¢her debtors 25,(KJ3 25,964 10. CREDITOIL8: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trade ¢reditors Other crcdil(S 275 4J21 4.831 4.831 4,796 MOVEMENT IN FUNDS Net movement in funds TrAnsfws be¢¢n nd5 Al 31.12.23 Ai 1.1.23 UDrestricted fund$ General fund Designaied TeseNes fuTrJ 212,255 3.IA)3.721 (110.870) 19,577 26,863 126,863) 128,248 3,396,435 3.815.976 {91293) 3.724,683 TOTAL FUNDS 3,815.976 (91,2931 3,724.683 movement in fvnds. included in the above are 85 fdiows: Inc18 R¢50urees expend Gains And loss¢5 Movement in funds Unr¢$iri¢ted funds General fund Designated reserves fund 30.814 27.536 (141.684) (9.039) {110,8701 19.577 1.080 58,350 {150,723) 1,080 (Ql,2¢)?1 TOTAL FUNDS S8.350 (150.723) 1,080 191,2931 CompAratives for movement in funds Transfer5 bdwecn funds mov¢menl in fund5 Al 31.12.22 At 1.1.22 Vnre5tricted fuds General fund Designated re5erv¢s fvnd 244.696 3,723246 (38.214) (93.752) 25.773 (25.773) 212.255 3.603.721 3.%7.942 (151.966) 3.815.976 TOTAL FUNDS 3.967.942 (151,966} 3,815,976 Page 10 continued...
THE ORDER OF ST BENEDicf AT ALTON ABBEY Notes ¢0 the Fi9CIal Staternents- continued for the Year Ended 31 tlttember 2023 MOVEMENf IN FUNDS- ¢otinUed Comparaiive nei nx)verneni in fund& it) the aiwe are as follows: Reswrce5 Gains and Movement exnded losses in funds Ino)rning Unrt8tri¢ted funds General fund Designatrd res¢rve5 fund 81,164 24.966 {139.378) (17,374} (38214) (93.752) (101,344) 1(ffj.130 {156.752) (IOlJ44) (151,966) Resirfcted fund$ Friends of Alton Abbey (843) T(yfAL FUNDS 106.975 (157.597) {101.344) (151,966) A Current year 12 months and prior year 12 nxjnths cOrnbirAl p)sition is as follows: Net movement in fvnds Transfers trtheen fvnds At 31.12.23 Ai 1.1.22 Unrestrfcted funds General fund D¢5i8nated ff5eJves furKI 244,696 3,723246 (169.084) (74,1751 32.636 (32.636) 128,248 3,596,435 3.967,942 (243.259) 3,724,683 TOTAL FUNDS 3,967,942 (243259) 3,724,683 A current Ye 12 months and prior year 12 rn¢)nths combined net meMent in fvnd% included in the above &r¢ &8 follow$'. Incomin8 Resources ¢Mp•ndod Goins and Movement in fisnds Unrestrieted funds Genernl fund D¢si8n8trd res¢Eve5 fund 1.978 52.502 (281,062) (26.413) {169.0841 (74.175) {l(MJ,264) 164.480 {307,475) (100264) (243,259) Restricted fxnds Friends of Alton Abbey 845 (845) TOTAL FUNDS 165J25 {308320) (100,2641 (243.259) Pagell continued...
THE ORDER OF ST BENEDicf AT ALTON ABBEY Noies to the Fin&Dri#l St8t¢ments- Continued for the Yt•r End¢d 31 December 2023 12. RELATED PARTY DISCLOSURLS tring the yeor under review Seamen'5 Friendly S(tiety W&5 charged £10,0 (2022: £10,(ml for providin8 services. PagE 12