Charfty regSstratlon number 232550
DOWNSIDE ABBEY MISSION TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

DOWNSIDE ABBEY MISSION TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
The Downslde Abbey Trustees Reg15tered
Charlty Nmber
232550
Reglstered Offl¢e
Downslde Abbey
siratton-on-the-Fosse
RADSTOCK
UA3 4RH
Independent e¥amlner
Milsred Langdon LLP
4 Queen street
8ATH
Somersei
BAI IHE
Bankers
Barclay5 Bank Pl¢
PO Box 2156
l Manv@rs Street
BATH
Somersot
Al IJZ
Soll¢ltors
Stone King LLP
13 QuEeTr Sq￿are
BATH
Somerset
BAI 2HJ

DOWNSIDE ABBEY MISSION TRUST
coKrENTS
Trustees Report
Independent examinels rÈport
Statement of f5nancial artNltles
Balance sheet
Notes to the Pinanclal statefflents
9-20

DOWNSIDE ABBEY MISSION TRUST
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present thèir report and financlal staternents for the yearended 31st l)ecember2024.
The fin3nclal ststements have been pre￿red in accordonce with the accountlng policies sèt out in note I to the flnanclal
statements and comply with the Ch3rity's governing document. the Charities Act 2011 and "Accounting and Reportin8 by
Charitie5'. Statement of Recommended Prartlce appllcable to charitles preparing their accounts In accordan￿ wilh the
Financial Reporting Standard applicable in the UK and Hepublic of Ireland IFRS 1021 leffectlve l January 20191"
Objective5 and artlvitles
The Trust Deed allowsforthe pursuitof such tharitablÈ purp05eseonnerted with the Roman Catholic Church ?stheTrustee5,
in their di$¢￿tIOn and with the written consent of the controller, being the Abbotof Downslde. think fit.
The Charity effects the running of parlsh@s whlch 3Te the financial and pastoral respon5iblllty of Downslde Abbey. and Is
responsible for the rna1ntenan￿. refurbishment and possible rebuilding of the churche5, PTe5byterie5 and halls of these
rishes, and forthe maSntenance of the prlests servlngthem.
The anTr)unts of grants and donations payable are considered in light of the level of reserves avallable. Grants and donations
fforn central fund5 are authorlsed by the Charity Trustees. Stnaller grants and donations payable by the indlvidual parishes
are generally lefttothediscretion of the parlsh prlestlnvofved. HOWever,th￿ is reviewed periodlcallyby theTrustees. Second
collectlons are tsken throughoutthe year ft>rspeclfi¢ charftles and funds.
Protertlon of Chiltlren and Vulnerable Adults
LlkÈ all other organisations who seNe in the community, the tmstees reco8nise the absolute necessity of ensuring the
protectlon and safety of all those the charity serves In any way. Thi5 mean5 that the trustees, clergy, volunteers and $tèff
engaged in the work of the charSty in Great 8ritain must obtain clearance from the Disclosure and Barrlng SÈrvlce ID851. The
trustees are fully committed to implementln8 all policie5 and proiedures ofthe Catholic Safeguardin8 Standards A8ency.
Achlevements and performancè
In 2024, the Tnain focus of our rni55ionaryattivity has been the parish churchesof St 8enedlct, Stratton￿rt-the-FO$se, and
Holy Ghost Church. Midsomer Norton.
Dorn Martln Gowman, as prlest in residence. has been working hard to relnvigorate Catholic parish Ilfe In the vlllagÈ and
surroundingarea and to work closelywith the local deanery8nd Catholic schools. The legacy of the pandemic, which $0 badly
affected ￿TISh and rnis&onary activity, contlnues to Infiuence parish Ibfe. but we are heartene¢J t0 See that during 2024 the
number of parlshloners and visitors wa5 beginningto increase agaln from their low point irnrnediately following the COVID-
19 pandemic.
In 2024. the Trustees encouraged the Parlsh Flnan¢e and Pastoral Comrnthes to consider new Ideas for paxoral outreach
andway50f ra5sing Incorne to support these pastoral activitles. These Comtnittees have rnet regularly 3nd have implemented
many new ideas, e.8. the Introductlon of a dlgital card readers to process contsctle$5 donation5 Wlthin our churches. and
extra social and rellgious events.
The two churche5 are now open regularty for visitors and prNate prayer and under Dorn Martin's guidance. religious and
soclal initiatives within the parish are beginnln8 to Inc￿35e. Duringthe year, there were talks in the parish hall on soclal and
environmental issues, faith pi18rim3ges and CAFOD oytreach.

DOWNSIDE ABBEY MISSION TRUST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER Z024
Achtevements and perf0mlan￿ Icontlnuedl
In addltion to extra 5eNices In the dlfferent churches. fvndraising events for the Charily, and other outreach projerts have
also been revived. There are now regular charlty soup lunche5, jurnble 3nd cake ¥les organi5ed by volunteers. 8nd
periodlcally In term time puplls from Downside School have opened a charfty coffee 'shop'. The Prayer, Pralse and Plzia
evenings and Communlty BrfTr8'n Share lunches have also been successful.
The Ch?rity and parish contlnue to 3UPS)ort o wide varlety of charltles that work both the UK and abroad, ènd to support
local schools and the disathfantaged who Ilve tocally. Much of this work is done In conlunctlon wfth other church￿ and
institutions.
To ensure the introduction of new volunteers and visitors into parish artiv￿leS has boen properly managed. the Trust's
Safeguardingcoordinator h35v151ted on several ottaslons and together wlthourown local Safeguarding fiepresentative have
provlded tralnin8fDr all those involved in parish activities and processed the Televant applic8tionsfor DBS ￿rtifICates.
Publit Bw*fft
The trustees, in pursulng the chariws actI￿tieS and objertlvos, have hèd regard to the general guidantr publlshed by the
Charty Commlsslon on publK benefit.
The 3ctivtties undertaken and provldlng publlc beneff( include:
the provislon of safe pbces of )S5Embly and worshlp for the Cathollc cornmunity and through upkeep and public
aC￿sS to such building5. which are usually listed a5 bèing of special Of historital arthitectural interest.
Offerln8 religlous and pastoral services. educational programrnes, trainin8 and charitsble support and asslstance
forthefurtheranceof the Roman Cathollc Church.The mainvehiclesforthese ministriesare p3f￿he$, chaplainties,
schools, and outreach agencies.
Facilttatlng religlou5 prartice., such actwities include tonduttlng ￿lI81¢)Us Ce￿MonieS lsuch as baptlsm5, wedtlings
and funera151, and rnaintalning rellglous burlal grounds.
There 15 è150 a benefit to the general publlc as our churches a￿ open to people of all faiths and none, for personal splrltu41
contemplatS0n.
Flnanclal revlew
Total ner incoming resourcesfortheyearamovntedto £1,29312023.' outgolng£122,5061. Collectlon5 andfundraising Income
has decreased to £40.06812023.. £122,S771. Charitsble expenditure has decreased to £49,37512023.' £326,261). Thi5
decrease Is lar8Èly attrlbLrtable to the transfer of the parishes of Beccle5 and Bungay to the Di0￿$e of East Angli8 in
December 2023.
The Chariws balance sheet shows a satlsfactory posltlon wlth funds amounting to £688.41012023.. £687,1171. Included
within thè Charity's assets are flxed asset investment5 totalllng £400,000 12023.. £4100.ODOI. All investments held by the
Charfcy have been acquired in accDrdance with the pow@rs available to the Trustees.

DOWNSIDE ABBEY MISSION TRUST
TRUSTEES REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Re5er¥e5
Notes 16 to 19 to the financ531 statements shov4 the assets and lièbilities attributable to the variou5 funds by type and a150
show the various trusts of the a)arity and surDmari5e the year's movement in each fund.
The ￿serveS tsf the Charity at the year*nd that are freely available for tharitable use are as folk)ws.'-
2024
202Y
Total resetves a5 at 31 DecemLEr
Le5S'.
Perrnanent Endowment Funds
Restricted Funds
Tangible Flxed Assets used for Char￿able wrposes
forming part of UnrestTlCted Funds
688,410
687,117
111,3731
15001
1189,4481
111,3731
1200,5551
Free Resetwes of the Charlty
487,0
475.189
The level of free reserves has Increased to É487,08912023: £475.1891. It Is more useful to expre5S the level of reseNes in
terms of months rÈcurrin8 unrestricted expenditure. This 15 drfficult due to the large flurtuations in the costs of rnzintaining
the Charity'5 properties. Assurninga recurringannual maintenance c05t of£5o,O￿thefr@e reserves ￿present3pprOXIm8tQlY
62 months recurring expenditure12023.' 25 monthsl. The Trustees arÈ satisfied that there are adequate reserves to weet
day to dayeypenditure. However. the Ch3rlty hastwochurche5 which are old buildin85 requlrlng malntenanceand potential
replacement. Additional source5 of funds would have to be found to carry out major renovatlon projects.
TheTrustees are pemiitted bythe temF5 of the Trust Deed to rn3ke investments In any rnanner allowed by law fortrust
tnoney.
The investment5 were prevlou51y held Èntlrely In bank deposits to provlde minlmum rlsk.
Corporate Governan¢e and Risk Management
Downside Abbey Missions Trust and its Board of Trustee$ a￿ comrnitted to hlgh 5tsndard5 of cortK)rategovemance.
The Trustees have examined the prlncipal areas of the Trust's operations and conside￿d the major rlsks faced In each of
these areas.
In the opinion ol the Trustees the Charlty has estsblished rEsour¢es and review systems whlth. under normal condltlons,
should allow these risks to be m￿gated to an acceptable level in its day to day operatlons.

DOWNSIDE ABBEY MISSION TRUST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
pla￿ forthefutuie
The Trustees wlll be lookin8 to contlnue to encourage and asslst the development of the Roman Cathollc falth In Ouf
parishes and Ioc81 Cathollc schools.
Last ye3T the Trustee5 engaged the Services of Philip Hughes Associates LLP to survey and prepare a schedule for repairsfor
St eeneditt's Church, Stratton on the Fosse, and the HolyGhost Church in Midsomer Norton. In the comingyear, rhe trustees
will begin to IMP￿MÈnI the recommendat1ons of these ￿Ports, worklng closely wlth Hlstorlc England and the Southern
Historic Churches Commlttee.
The monastlc communrty whlch generally prtsvide5 the rlereyfor our parish and mlssion attivity contlnue their dlscemment
from theirtempor3ry home in Devon. It is hoped that in 2025 theTrust will be able to adapt and engage in new rni5sionary
and pastoral work oncethls period of dis￿rn￿ent[S complete.
The Trustees are worklng with the Charity Corntni55ion to und&rstand whether the Charity should be ￿pUrpOSed or
amalgamated in 30rYE way. TheTrusteeswill ensuTe thatthe parish and mlsslon fundsafid actlvitles a￿ ￿$trIcted and in Ilne
with the objectives and aims of the Mission Trust.
Structure. 80vernan￿ and managemert
Downside Abbey Missions Trust was constituted by Trust Deed in May 1932 a5 arnended by Deed of Variatlon Itsted 6
October 21)09,. st is a re8lStered charity, number 232550.
The Trustee of Downside Abbey Missions Trust is The Downside Abbey Icomrnonly kn(Iwn as the £50 Trust). t￿Ing an
incorpor3ted body of Trustees and regIste￿d charity number 232549.
The following nN)nks made up the Board of Trustees..
Rt Re¥ Ab*y)t Nicholas Phillp Wetl Icontrollerof theTrustl
Rev Martin Joseph Blanco Hood
Rev Marc David 8rumwell
Oryanisatbonal stru(tt¥re
The prlnclpal aCti￿rY of the Charity is to tnana8e and administer the capital funds, depults arld flnanclal transactions tsf the
Roman &thollc parlsh In stratton on the Fosse in the furtherance of the objects of the Trust DEed. The Parish priest is
responsible tothe Tru5teesforthe runnin8 of the parish account. ThèTriJ5teesauthtsrise Brants and loan5 Out of the Central
funds tothe parish.
Managem•)t
The ContTDller (rfthe Trust, beln8the Abbot of Downside, ha5 absolute d1screiion overthe appx)intment and removal of
Trustees of The Downside AbbEy General Trust (commonly known asThe £50 Trust).
The prattlTr15forthe Monastic Communityto select certain tsf it$ mernbersto beTrusteesandforthe others to be appolnted
by the Abbot. It is also posslble for up to three Trustees, who need not be mernbers of the tlownslde Communlty, to be
apw>inted bythe Abbot P￿SIdent of the Eng115h Benedictlne cOng￿Zation.

DOWNSIDE ABBEY MIS510N TRUST
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Connerted Entltles
The following efitllles a￿ connected to Oownslde Al)bey Mlss4onsTrust:_
Downslde Abbey General Trust IA Q)mpany Limited by Guarantee), Oown51de Abbeyi Stratton-on.the-Fos5e. Bath, BA3 4RH
ICh8rity Number 11585071.
The above entities are controlled by The Downslde Abbey Icommonly known 8sThe £50Trustl iEin8 an incorporated body
of Trustees (Charity Number 2325491. The a5SÈts of Oovmside Abbey General Trt4St are held 5eparatety from those of
Downside Abbey Missions Trust.
Statement of twustees. responslbllltles
The trust￿ are re5pon5ible for preparingtheTrustees Report and the financl31 ststements In accordance with appllcable
law and United Kingdom Accounting Standard5 IUnr(ed Klngdom Generally Accepted Accountlng Pr6¢tlcel.
The law appllcableio charitles in England and Wales requiresthe truttees to prepare fSnanclal statementsfor each financial
vear which give a t¥ue and falf vlew of the state of affalrs of the Charhy and of the Incomlng ￿sourceS and appllcatlon of
r0$0urtes of the Charity forthat year.
In preparingthese financial 5tstements. the tru5tee5 are requlred tg:
selett 5ultable accountin8 policies and then applythem consistently..
observe the methods and prlnciple5 sn the Charrties SORP..
- make ju¢J&ements and estirnatesthat are reasonable and prudent,.
state whether appllcable 3ccountln8 Standards have been followed, 5ublett to any material departures dlsclosed and
explain￿ in the financial ststements- and
prepare the financlal ststements on the goinB concern basls unless It Is Inapproprlate to p￿SUme that the charlty will
continue in 0￿ration.
The trustees are ￿sponsible for keepiThKsuffklent accouTrt5ng recordsthat dLsclose with re￿￿nabIeac¢Uracy at any tlme the
rinancial p051tlon ol the Charfty and enable thÈrn to ensure that thefinanclal 5taternents complywith the Charities Act 2011,
the Charity (Accounts and Reports) Regulations 2008 and the provlsion5 of the trust deed. They are a150 re5ponslble for
5afeguardingthe assets of the Charity and hence for taking rÈasonable steps forthe prevention and detectlon of fraud and
other iiregularities.
The tiustees. report was approved by the Board of Trustees.
Rt RevAbbot Nkholas Phlllp Wetz (COntr￿ler of tho Trustl
Trustee
Dated..
Io" T4&Jw

DOWNSIDE ABBEY MISSION TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEÉS OF DOWNSIDE ABBEY MISSION TRUST
l ￿portt0 thetrustee5 on my examination of the finarlcial statementsof Downside Abtw MIs￿On Tru5tlthe Charity) for the
vear ended 31 December 202
R•sponsibilttles and bas1$ ol reptyt
As the trustees of the Charrf(y you are responslble for the preparatlon of the financlal ststerr*nt5 In accordance wlth the
requ￿rernents of the CharitSes Act 2011 Ithe 2011 Actl.
I report in respect of rny examlnatlon of the CharSt*s flnancial statements carried out under sÈction 145 of the 2011 Act. In
carrying oui my examination I have followed all the applicable DirectM)n5 given by the Charity Commission under seetlon
14515llbl of the 2011 Att.
Independtnt examiner'$ Statement
I have completed ry examlnation. I confirm that no matters have come to my attentlon in connection wlth the
exaffiination &iving me cause to belleve that in any material reS￿Ct..
accounting records were not kept in respect of the Charity a5 required by sectlon 130 of the 2011 Act,. or
thefinancial statements do not accord wrih those records., or
thelinancial statements do not COTnply withthe appllcable requirernents concerniftgthe formand contentof accounts
set OLrt In the Charitie5 (Accounts and Rewrtsl Regulations 2008 otherthan any requirement thatthe accounts 8lve a
true and fair view whirh Is nota matter cons1dÈ￿d as part of an independent examination.
I have nocon¢ern5 and have comÈacr055 no other matters in connÈttion with the examination to which attention should èe
drawn in this report in Orderto enable a proper underxaftdlngof the flnanclal ststementsto be ￿aChed.
m Lerwlll FCA BFP
Milsted Langdon LLP
4 Queen st￿et
BATH
Somerset
8A1 IHE
Dated..
15110/202S

DOWNSIDE ABBEY MISSION TRUST
STATEMENT OF FINANCIAL AcfiviTIES
FOR THEYEAR ENDED 31 DECEMBER 2024
Uthrestrlrted
lunds
2024
RestrlrtÈd
funds
2024
Endowmerbt
nds
2024
Ttstsi
2014
Yotal
2023
ote5
Donation5and lega￿t$
Inve5tmÈnt5
36.341
8.100
6,227
42.568
B.100
139,955
13.8
Toial Incrxnè ind
endowments
44A41
6.227
50,668
153,755
Charitable activrt
43,648
5,727
49,375
326,261
Netg8ln5 on investments
io
50,0
Iiet lÈMpÈndkufelllnwrne
fDr the yeavl
Netnxwemqnt In lund5
793
sc
1.293
1122,5061
Fund balantÈs
at l January 2024
675,744
11.373
687,117
809.623
Fuhd b•lwn¢es ot31
DeteFnber 2024
676.537
11.373
688,410
6e7,117

DOWNSIDE ABBEY MISSION TRUST
BALANCE SHEET
AS AT 31 DECEMBER 20Z4
Flxld ¥ssets
Tan8ible a￿ets
Investtnent propertles
12
13
189,448
40D.(h
200.555
400,000
589.448
600,555
Currentasstts
Debtors
cash at bank 2nd in hand
1,062
I(A).300
ioi.gsg
101,362
101.959
Cr4diiofL' amounts fallln8 due wllhln one year
15
12,4CQI
115,3971
Ner current a55et5
98,962
86.562
Totsl assetsjoss Curre￿ I1¥bIl￿1
688,410
687,117
rieta55ets
688.410
687,117
Capltal tund5
Endowment fund5
16
11,373
11,373
Income fund5
Restricted funds
soo
Unrestrl¢ted funds
676,537
675.744
688,410
687,117
The financial ststements were approved by the Trustees on......
Rt Rev Abbot Nichdas PhS1ip Wet2 (Controller of the Trustl
Trustee

DOWNSIDE ABBEY MISSION TRUST
NOTESTOTHE FINANCIAL sfATEMENTS
FOR THEYEAR ENDED 31 DECEMBER 2024
Accounting policles
Charlty Infomiatlon
Downslde AbEey Mission Trust Is a reglstered charlty in England and Wale5. Its principal office Is Downside Abbey.
$tratton￿n-the-FoW. Radstttk. BA34RH.
1.1 A£a￿ntIng corwention
The flnancial statements have been prepared in accordance with the Charity's governing document, the Charities Att
ZOII, FRS 102 Yhe Flnanclal Reportln8 Standard applicable in the UK 8nd Republlc of Ireland~ I"FRS 102.1 and the
Charrtles SORP -A£countlng and Reporting by Charities.. Staternent of Recornmended Porti£e applicable to charities
prÈDaring their accounts in accordance wlth the Flnancial Reporting Standard applicable in the UK and Republlc tsf
Ireland IFRS 1021" lÈfféttive l January 20191. The charty is o Public Benefit Entlty as deflned by FRS 102.
The Charfty has taken advantage of the provlslons In the SORP for charities not to prepare a Statement Df Cash Flows.
The financisl ststements have departed from the ChaTitre5 (Accounts and Reports) Regulation5 2008 only to the exte
required to provide a true and fairview.Thls departure has Involved1011owing the Statement of Recommended Practi
for charities applyin8 FRS 102 rather than the version of the Statement of Recomrn*nded Prèctice which is referred to
In the Regulations but whlch h85 since been withdrawn.
The financlal statements are prepared in sterlSn& which Isthe functional currency of the charity. Monetary arnounts In
thèse financial Statements are rounded to the nearest £.
The Pinanclal statements have been prepared underthe hlstorical cost convention, TTh)dlfled to Include the reVaI￿tIOn
of Investment prop&rtles and certain flnancial Instruments at falr value. The prlnclpal accountln8 policles adop*d a
set out below.
1.2 GOI￿ wncem
At the tlrnÈ of approving the financial statements, the trustee5 have a reasonable expectstlon that the Charity ha5
adequate resourcesto continue In operational existenceforthe f0reseeab1efutu￿.ThUs,thetrV5teeS continueto adopt
the golng concern basis of accounting in preparfngthe financi31 statement>
1.3 Charitable fvnds
Unrestricted funds ar@ avallable for usg at the discretit>n of the trustee5 in furtherance of thelr charltable obleaive5.
Foradtnlnistratlve purposes the funds are split betwe￿ the Mi55ion Fund and the Padsh Funds.
Restricted fund5 are subject to specific condit￿nS by donors orgrantots asto howthey may LE u5ed.The purtK)se5 and
uses of the restricted funds a￿ set out in the notes to thefinancial statements.
Endowment funds subject to 5pecrfic Conditions by donors that the capital must be malntalned by the Charlty.
IA Incomo
Income Is reco8nlsed when the charTty 15 legally entitled to it after any performance conditlons have been met. the
arwunts can te rneasu￿d reliably, and it is probable that intorne will be received.

DOWNSIDE ABBEY MISSION TRUST
NOTES TO THE FINANaAL ￿ATEmENTs {CONllNUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
l. Accountln8 policies
Icontinuedl
Cash donation5 3re recogni5ed on receipt. Other donations are reco6ni5ed once the charlty has been notlfied of the
donation, unless performance conditi(￿$ ￿Quire deferral of the amount. Income tax recoverable in ￿latIon to
donatlons recelved under G[fr￿d ordeed5 of covenant is recognised atthe time of the donatlon.
Le8ac5esare recognised on ￿(eIptor0therWi$e Lsthechartty h35 been notifiedof an Impendln8dlstributlon. theaftv)unt
is known, and receipt Is expected. If the amount is not known. the legary is treated as a contlngent asset.
Incor￿ Is measured at thefalrvalue of the consldÈratlon reeelved or Teteivable and represents amount5 reeeivable for
goods and services provided in the norlnal course of bu5ines5. of discounts, VAT and other 5ale5 relatèd taxes.
l.S Exppndliur•
Resources expended are accounted for in the perlod ￿ whlch they are incurred. The Irrecoverable element of the VAT
15 included in the itern of expense towhich it relates.
Where an item of expenditure fa115 dirtttly withln one cost Category it is attrlbuted to that category only. Where
eX￿ndItUre Involves morethan one Category it is apportioned on a reasonable and justlfiable bas1S.
Grants and donatlon5 are included in the Staternent of Financlal Actfvltles in the yearwhen they become payab￿.
I￿ Tan8lble flxed assets
TangSble fixed assets are Initially Measured at cost and subsequently mea5UTed at cost orvaluatlon, netof depreclation
and any impairment losses.
Depreciation 15 recognised so as to wrlte off the tost or valuatlon of assets less thelr re51dual values over their useful
lives on the followlng ba5es'.
Land and buildings
2(klOO years strdight line
Fixtures, fittings & equlpment
15% reducin6 balèn
Motor ¥ehlcles
20% strdl8ht line
Item5 over £l,IXX) a￿ caplt81ised.
1.7 Inve5tTnert pro￿rtY
Inve5trnent property. whlch is propety heldtoeam rentalsandlorforcapital appreciation, Is inltially recogni5ed at cost,
which include5the purchase cost and any d1￿CtlY attributable expenditure. Subsequently it is measured at falrvalue at
the reporting end date. The surplus or dÈfith on rev31u?tion 1$ wognl$ed In the Statement trf Financial Artlvltles.
Imp8lnr*r4t of fixed 355ets
At each reportlng end date. the Chartty revlew5 the carying arnounts of *stan81ble assets to deterrnlne whetherthefe
is any Indication that those a55ets have Suffered an impalrment loss. If any Such inditation exists, the recovernble
amount of the asset Is estlrnated In orderto determlnethe eitent of the impalrment10ss lrfanyl.
-io-

DOWNSIDE ABBEY MISSION TRUST
NOTES TOTHE FINANCIAL STATEMENTS ICONllNUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting pollcles
1.9 Cash and ¢ash equlvalents
Icontinuedl
Cash and cash equlvalents Include cash In hand, deposlts held at call wlth banks. other short-term liquld Investments
wlth orlginal maturitles of three months or ￿$$, and bank overdrafts. Bank overdwafts afe shown Mthin tKJrrowings In
1.10 Financlal instrumerts
The Charity has elerted to apply the prov151DnS of Settion 11 '8asic Flnancial Inrtruments. and kction 12 '0ther
Flnanclal In5trutnents Issues. of FRS 102 to all of its financial instruments.
Financial in5trumeTEts are reco8nlsed in thecharity's balance sheetwhen the Charity iEcome5 partytothe contractU21
provisions of the Instrument.
Flnanclal assets and liabllicies a￿ offset, with thÈ net arnounts presented In thèfinancial State￿￿t5, when there Is
legally enforcèable rlght to set off the reco8nlsÈd armunts and there is an intentlon to settle on a net ba555 or to
realise the asset and settle the Ilablllty slmultaneously.
BU￿¢11￿0￿ClU1u$Sets
sic financial assets, whlch Include debtors and cash 8nd bank bal4nte5, are initially measured at trnnsaction prl
Includln8 tr8nsactlon costs and are subsequently carrled at amortlsed cost Uslnethe effectlve interett method unless
the arrangement constitutes a financing transaction, where the transattion is measured at the present value ol the
future receipts dlscounted at a market rate of interest. Flnancial assets dassified as receivable wlthln one year are not
amortised.
B05klAn•n¢l•lllobllltles
Basic fin?ncial liabilitles, Includlng creditors 3nd bank loan5 are initia51y recognised at transaction prke unless the
arranEernent constltute5 3 financing transattion, where the debt instrument Is measured at the present value of the
frjture payments discounted at a market rate of Interest. Financlal liabllltles classlfied as payable wlthln one Vear are
not arnorrised.
Debt Instru¥r*nts are subsequentw ¢arTied at amort15ed cosi uslngthe effeLtive interest rate rnethod.
Trnde (￿ditOrS are obliBations to pay for gogds or Services that have been acqulred in the ordinary coutse ol
operatlons from suppllers. Amounts payable are classified as current Ilabillties if ￿Yment 15 due wlthin one year or
less. If not, they are presented as non-turrent liabilities. Trade credltor5 are recognised Inltially at transaction prl
and subsequently measured at amortised cost using the effective interest tnethod.
Detttognitlon oAAlnunclol Ilobllftle5
Financial liabilltie5 are dprecognlsed when the Charitls contractual obli84tlons explre or are dischaoed or cancelSe(l.
1.11 Employee benefits
The cosi ofany unused hollday entitlement Is recoRnised in the DÈriod in which th• omployee's 5ervicesaTe receNed.
Termlnatlon beneflts a￿ wognised immedlately as an expense when the Charity is dernon5trably comrnhted to
terminate the en)ployment of an employee orto provlde terminatlon beneflts.
li

DOWNSIDE ABBEY MISSION TRUST
NOTES TOTHE FINANaAL sfATEMENrs IcopmNUED)
FOR THEYEAR ENDED 31 DECEMBER 2024
Crltlcal accountlng estlmates andjudgemènts
In the application of the Charlty's accountlng pollcies, the trustee5 8re required to make judgements, estimates and
assumptlons atK)ut the carryinE arnount of assets and li3bilEtles that are not readily apparent from other sources. The
estin￿leS and as5QCi3ted assurnptions are basÈd on historical e¥perlence and other factorsthat aTe considered to be
ielevant. Actual results may differfrom these e5timate5.
The estirnates and underwing assumptlons ore revlewed on an ongolng basis. Revlslons to accountlng estimates are
recognlsed In the period in which the estlmate is revised where the revislon affèits onlyth3t peTi(Kl. or In the perloo
of the revision and future periods where the revisR)n effects both current and future period5.
Key SoUr￿S of èstimatlon untèrtainty
The estimates and a55umptions whlch have a slgnlflcant risk of causln8a m3terlal adlustment to the carrwng amount
of assets and Ilabil￿￿e5 are as follows.
Depretiatlon
The trustees use thelr knowledge ofthe ¢harity to estirnatethe useful Ilfe and residual of tanglbleflxed assets In order
to arrive at applltable depreciatlon rate5. In accordance with soctlon 17 of FRS02, the trustees review and update
Ihe5e estirnates if there are Indlcatorsthat current estimates should change. Dur5n8 the yearthere was n4) rhan8e In
thè depreciation rates.
Donations •nd Iwries
Unrestrkted
Restrfrted
Total
Total
funds
nds
2024
2023
Donatlons and Ofts
Q>llections and fundraisln8
Grant Income
750
7SO
17,378
33,841
6,227
40,068
122,577
1.750
1,750
36,341
6,227
42.568
139.955
ForthÈ y￿r endod 310$cember 1023
126,263
13.692
139,955
12

DOWNSIDE ABBEY MISSION TRUST
NOTESTOTHE FINANOAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Investmerts
Unre5trkted
End¢)wment
Total
Totsl
lunds
funds
2024
2023
Rental Inrorne
8.1(K>
8,1
13,396
Invèstment Intome
8,100
8,IC
13.800
Fort￿ year ended 31 Decemb2r2023
13,8
13,800
5 EXpendIty￿ on charttable adlvltles
2024
2023
Direct costs
Grant fundlng of aCt￿ttleS (see note 61
8.462
157,085
shale of wpport and governance (see note 71
Support
Governance
38,513
167,640
1.536
49.375
326.261
Anaws by lund
Un￿StriCted funds
Restritted fund5
43,648
5,727
312,405
13.856
49,375
326,261
13-

DOWNSIDE ABBEY M15510N TRUST
NOTESTOTHE FINANaAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
fj Grant5 Payable
2024
2023
Grants to in5tltutions'.
Second Collectlons (see below)
Parish Schcx)Is
6,962
13,671
12,383
others Less Than £l,QOO
Di(Ke5e of E35t Angli
Downside Abbey General Trust
610
130,421
1.500
8,462
157.085
Parishes raise mtsney for specific Char￿leS and funds. Second collettlons represent the expenditure relatlng to th
donatioris.
7 Support Costs
Support
costs
Governance
osts
2024
2023
Stsff eosts
Depreclation
11,107
11,107
13.206
15,659
Church and related expense5
Repairs and m31ntenance
Accountsncy
Legal and professional
13.206
66.284
5,072
5,072
43,122
4.339
2,070
2,070
14,635
Prfests, Maintenan
7,058
7,058
11,129
Diocese LEvles
12,472
Independent Ex3rniners fees
2,400
1,536
38,513
2,400
40,913
169.176
Analysed between
Charltable actlvitles
38.S13
40.011
169,176
In addltlon tothe Independent ExaMi￿erfees shown above, Included within supwrtcostS3r@ accountsncyfees payable
tothe Independent Examiner Sn ￿SPert of accountancy and other Servi￿5 of £nil12023.. £4.3391.

DOWNSIDE ABBEY MISSION TRUST
NOTES TOTHE FINANaAL STATEMENfs (CONTINUED)
FOR TME YEAR ENDED 31 DECEMBER 2024
TrustetS
None of the trustees lorany persons connected with them) recewed any remuneration durin8 the year, and none of
them were rÈimbur*d anyexpertses12023: £nlll bythe char￿V.
Priests, rnasntenance costs as shown In not£ 7 are levled by Downslde Abbey General Trust tow?rd5 the cost of
rnaintÈnance of the p•Ylsh prlests. The par15hesarechar8ed In prowjrtlofttothe ar￿Unt0f the prlesvsworklng
at the par15hes.
Employees
The average rnonthty nurnber of employees durlngthe yearwas:
2024
2023
Numb•r
Number
EmPlo￿￿ent msts
2024
2023
Wages and 5alariL¥
Duringthe year ended 31 Detember 2024the charity dld not have any employees.
There were no employees whose annual reffjunerÈtlon was £60,000 or more.
10 Net Bolnslllossesl on investments
21)24
2023
Revaluation of lllve5tment properties
50,1XK)
11 T4¥atlon
The charity is èxemptfrom tsxatlon OTr Its actfvlties because all its Ipcome 15 appliedfor charitable purFQSe5.
15-

DOWNSIDE ABBEY M155ION TRUST
NOTESTO THE FINANaAL sfATEMENTS (COPrnNUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Tanqible Ags8ts
Land and
buildings
Fixture5,
ffttings &
equipment
Motor
vehltles
Total
At l January 2024
Additions
Disw>sals
318,656
29,333
350,989
At 31 December 2024
318,656
29,333
3,LK)O
350,989
Oepreclation and Impairment
At l January 2024
134.587
15.147
150,434
DeP￿CIatIOn char8ed in the year
Elltninated In respect of dlsposals
At 31 December 2024
8.380
2,127
600
11,107
142,967
17,274
1.3(X>
101,541
Carryln8 amount
At 31 December 2024
17S,689
12,059
1,7(N)
189,448
At 31 December 2023
184,069
14,186
2.3
200,SSS
Le8al trtle to certaln of the freehold properties Ss held by Downside Abbey Gener31 Twst. The propertiè5 are held by
Downside Abbey Gener?1 Trust forthe benefit ofthe MlssioniTrustfor as long a5they are used as partof the Charltrfs
mission. These properties are iniluded sn the Missions Trust financial ttaterrents.
Investment PMp•rty
2024
Falr Valuè
Af J January 2024
400,000
Net gains or losse5 through fair value adjustments
At 31 Deember 2024
41X>,000
The Investment property was valued by the Trustee5, based on a desktop valu3tlon underraken by a firm of Estate
Agents, durln8 thE year ended 31 Decernber 2023, for expetted rental yleld for re%dential prowrtiÈs. The trustees
belleve that the valuatloll 15 Still reflettive as at 31 December 2024.
16-

DOWNSIDE ABBEY MISSION TRUST
NOTES TO THE FINANaAL sfATEMENTS (COPrnNUED)
FOR TTrIE YEAR ENDED 31 DECEMBER 2024
14
Debtor5
2024
2023
Amounts fallln8 due wlthiTr one yèar:
her debtors
1,062
1,062
IS Credlttys: zmounts falllTrx dUeW￿hln one year
2024
2013
Attruals and deferrÈd Income
15,397
2,400
15,397
Ertdowmentfunds
Endowrrentfunds representasse*swhich rnust be held permarTrently bytheCharlty- Incomearislnson the endowment
funds can be used In accordance with the object5 of the Chartty and is included as unrestrlcted Income. Any capitsl
881ns or losses arlsSn8 on the assets forrn parr of the fund.
Movement In lunds
OLrtgolng
Transfers
resour
Balance at I
January 2024
IrKomln8
Balan¢è at 31
DeceM￿r 2024
Permanent endowm8nt5
Cler8y Malrytenan
11.373
11.373
11,373
11,373
PrforV•af
Movement In funds
Balance at I
Intomlng
Out8olng
Transfe
Balanee at 31
ja￿ary 2023
l>•cemb¢r 2023
Pernia￿nt endowments
Clergy Malntenance
11,373
11,373
11,373
11,373
Endtswment Interest 15 available to be spent as Unre5tritted Funds wlthln the Mission Fund parishe5 Shown. Any
Income received In the year 15 transferred to Unre5tflCted Mission Fund Fund5. In order that endowed balances are
stated 4t thelr capltal value.
17-

DOWNSIDE ABBEY MISSION TRUST
NOTES TO THE ANANaAL STATEMEfrifs ICONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2024
17
Aestrlrted fvnds
The ￿$t￿tted fund5 of the charity cornprf5e the unexpended ba&nces of donatlons and 8rants held on trust subject
t05pecrfic conditions bydonors asto hawthey may be used.
Movement In funds
(kngoin8
Transfers
resources
Balance at I
January 2024
Iwwnlng
r*50urre5
Balance at 31
December 2024
Second Collectlons
15,727
500
6,227
15.7271
500
Prioryear
Movement in ful￿5
Balance at i
Imomlng
IMgoln8
Trdnsfers
BalantÈ at 31
J•Jwary 202>
resourtes
r¢sour¢•5
December 2023
Second Collectlons
J64
13,692
13,856
164
13,692
113,8561
Parlshes ralse mDnoy for specrflc charFtles andfund5. Second Collections represents theexpenditure relatin8to those
donatiorts.
18-

iu
O L4J
ri> W
W En w
w (n
Ll

DOWNSIDE ABBEY MISSION TRUST
NOTES TO ThE FINANaAL￿AIEmENT5 (CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
19 Analy555 of net assets between fvnts
Unrestrlcl841
r￿S
Rostrlrted
fvIKIs
Endowment
furKIs
Total
Fund balances at 31 Decemter 2024 are
presented by..
Tarigible as5etS
Investment Properties
Current assetsllllabilltlesl
189.448
189,448
400,000
98,962
87,089
11,373
676,537
11,373
688,410
Prioryear
Unrestrf¢ted
funds
Restrfcted
fu*vl$
Endowmert
fvnds
Total
Fund balance5 al 31 December 2023 are
represented by..
Tangible assets
Investment Propertie5
Current assetsllliabilitiesl
200.555
4L¥J,000
75,189
2￿.555
400.000
86.562
11,373
675.744
11,373
687,117
20
Related party tran%a¢tlons
Durin8 the year £7,058 IZ023..£11,1291 was payable to Downside Abbey General Trust in respect of prlests,
maintenaft￿ cos
Downside Abbey MIs51on5 Trust and Downslde Abbey General Trust are related parties, byvirtue of sharingthe same
TnJstee5, as both entlties are controlled by The Downslde Abbey Icommonty known as The £50 Trust) beln8 an
Incorporated body of Trustses Icharity Number 2325491.
-20-