Charity reglstratlon number 232550 DOWNSIDE ABBEY MISSION TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
DOWNSIDE ABBEY MISSION TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustee The Downside AbbEyTrustees Reglstered Charlty number 232550 Regi51ered Office Downside Abbev Stratton-on-the-Fosse RADSTOCK BA3 4RH Indendent examlner ML Audit LLP 4 Queen Street BATh Somerset BAI IHE Bankèrs Barclays Bank PIC PO Box 2156 l M3nver5 Street BATH Somerset BAI IJ2 Solkltors Stone King LLP 13 Queen Square BATH Somerset 8A1 2HJ
DOWNSIDE ABBEY MISSION TRUST CONTENTS Page Trustee5 Rert Independent examlnerfs report Statement of flnancial actNities Balance sheet Notes to the financi31 ststement5 9-20
DOWNSIDE ABBEY MISSION TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The trustees present thelr report and financial statements forthe yearended 31st December 2025. The financial statemersts have been prepared In accordance wTth the accountln8 pollcle5 set out In note I to the financlal statements Bnd cDmply with the Charlty's governlng document, the Charities Act 2011 and Accountlng and Reporting by Charities.. Statement of Recofflmended PractSce appllcable to tharities preparing their accounts In accordance wlth the Financial Reporting Stsndard applicable in the UK 3nd Repvbllc of Ireland IFRS 1021 (effective I january 20191" Objec¥t$ and actlvitles TheTrust Deedallowsforthe pur5Uttof such charltable purposesconnected wh the Roman Catholic Church a5theTrustees. in their discretion and with the written consent of the controller. belngthe Abbot of Downside, think fit. The Charity efferts the runnlng of parlshes whlch are the flnanclal and pastoral responsibillty of Downside Abbey, ènd is responsible for the maintenance. furbI$hrnent and ptsssible rebuildlng of the churches, p$bYterIeS and ha115 of these parlshes. and for the Maintenan of the prlests servlng them. The amount5 of grants and donatlOn5 Payable I considered in light Dfthe level of serveS available. Grants and donatlons from central funds are authorised by the Charlty Trustees. Smaller gtant5 and donations payable by the Indlvidual parishe5 aregenerally lefttothe discretion of the parish priest involved. However, this is revlèwèd periodically bytheTrustees.Second Ilections are taken throughout the yearforspeclfic charltie5 and fijnds. Pr<>tectloA of Children ¥nd Vulnerable Adults Like all other organlsatlons who Serve in the comtnunlty. the trustees recognlse tho absolute necéssity of ensuring the protectlon and safety of all those the charlty serves in any way. This means th8t thÈ trustees, clerEyi volunteers Znd staff Engaged in the work of the charlty In Great Brltaln must obta1n Clearance from the Disclosure and Barrin8 Service IDBSI. The trustees are fulty committed to irnplementin8311 policles and procedure5 Of the Catholic Safeguarding Standards Agency. Athle¥ements and p¢rlorrThince In 2025. the maln focus of our mlsslonary attivity has been throu8h the parlsh churches of 5t Benedlct. Stratton-on-the- F05se, and Holy Ghosr Church. Midsomer Norton. Dom Martin Gowman, a5 priest In resldence, has been working hard to relnvigorate Catholic parish Ibfe in the village and surrounding area and to work closely with the local deanery and Cathollc schools, Hels also seeklng to develop ecumenlcal d131ogue in the Ylllage SIn the c105ure of the AnKlican church of 5t Vi80rfs. The two parish churches areopen regulartyforvlsltorsand privatw prayerand under Dom Martin's 8uidance, social initiètNes wfchin the parlsh are popularandencoura8e village intefactlon.The introduttion tsf Soup and Cheese Lunches to ralsefunds for partlcular projects has been PDpuLAr. a5 too the inttlatlve to host the Notre Dame Cèfé. a rnonthty evènt org4nlsed I31 xhool pupSls. Durln8 the year. there were tslk5 Ill the parish hall on soclal and environrr*ntal issues, fa5th pilgrimè8e5 andCAFOD outreach. The PrayÈr, Praise and Plzza evenlng5and Communlty Brln8'n Share lunches havealso beensuccessful. The Parish Flnance and Pastoral Cornmittee5 continue to meet regulady to COn5idèr new Ideas for pastoral outreach and waysof ralsing Income to 5UPPOrtthese pastoral actlvltSes. One of the Trustee5 attendsthe quarterly rneetln8 of the parish's finarre committee and reports back to the DAMT on finance and malntenance Issues. The Char1ty and parlsh iontlnue to $upport a Wlde variety of charitle5 thot work tx)th In the UK anc$ 3tsroad. 3nd to suprx)rt local schools and the dlsadvantased who Ilve locally. Much of thls work Is done In conjunrtion with other churches and InstitutiOn5.
DOWNSIDE ABBEY MISSION TRUST TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Publlc Benefft The tTUStee5, In pursulng the chartW5 act13 and oblectlves, have had regard to the general BUIdan publlshed by the CharSty Commisslon on public teneflt. The actfvitles undenaken and providing public benefft Include= the provlslon of safe pkces ol as5embty and worshlp for the Catholic community and through upkeep and publi¢ aC$s05Ch bulldings. which are USLally listed as klng oFspeiial or h15torical architectural Interest. Offerlng 18105 and pastoral serylces, educational progrèmmes, traSnlng ènd charitable support and asslstance forthefurtherance ofthe Roman Catholic Church. The maln vehSclesforthe5e ministrie58re parlshes, ¢hapl3incie5, schools. ènd OUt8¢h a8encle Facilitating religlous practice,. such actlvlties Include conductln£ rellglous ceremonles (such as baptlsms. weddings and fvn*ra151, and maintalnlng lI81ou5 burlal 8rounds. Therels also a beneflt to the 8eneral publlc as our chtsr¢hes are open to people of all faiths ènd rsone. for rsonal spirtual contemp14tion. Finandal revlew Total net outgolng resourts5forthe yearatTh)unted to £3.18312024.. IntomSng El,2931. Collectlons ènd fundraisin8 Income ha5 decreased to £34,55912024.. £40.0681. Charltableexpenditure has decreased to £47.46312024.. É49,3751. The Charlvs balanee sheet shows a satlsfattory position wlth funds amountlng to £685,22712024.. £688.4101. Included wfthln the Charfty'5 a55ets are fixed asset investments totslllne £400,tKKJ12024.. £400,(KX)l. All Investments held by the Charlty have been acqulred In accordance with the powers avèilable to the Trustees.
DOWNSIDE ABBEY MISSION TRUST TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Re5erve5 Notes 16 to 19 to the fln3nci21 statements show the assets and liabilities attrlbutable to the v3rious funds by type and at50 shgwthe varlous trusts of the Charity and summarise the year'5 movement In each fud. Thé reserves of the Charity at the year-end that Hre freely avallable for charitsble use are as follDW5.'- 2025 2024 Total reseeS as ot 31 December Less.. Permanent Endowment Funds Restricted Funds T4ngible Flxed Assets used for charitsble purposes forming part of un$tritted Funds 685.227 688.410 111,3731 111,3731 15001 1189,4481 1191.6781 Free Reserves of the Charlty 482,176 487,089 The level of free reserves has deCaSed to É482,17612024.. £487,(1891. It15 rrore useful to exp55 the level of reserves in term5 of months recurring unrestricted expenditure. This 15 difficult due to the large fluctuations in the costs of malntaining the Charity'5 propertles. Assuminga recurrlngannual maintenance cost of £25,IJOOthe free reserves representapproxlmately 84 months recurring e¥penditure12024.. 85 rnonthsl. The Trustees are satlsfled that there are adequate reserves to meet day to day expendituie. However, the Charity h3S two churches which are old bullding5 requirinE on-going maintenan. Additional sources of funds would have to be found to larry out major renovBtion projects. The Trustees are permitted by the terms of the Trust Deed to rnake Investment5 in any manner£llowed by law fortrust money. The investments are held entlrely In bank depositsto provide minimum risk. Corporate Governance a1 R15k Management Downside Atjbey Mlssions Trust and its Board of TrtsstÈÈ3 are commited to high standards of corporate governance. The Trustees have exatnined the prfncipal areas of the Trust's operations and conslderÈd the major risks faced in each of these area5. In the opinion of the Trustee5 the Charity has established resource5 and review systems which, vnder nomial condition5, should allow thÈse risks to be mltigated to an acceptable level in its day to day opeiatlOn5.
DOWNSIDE ABBEY MISSION TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Plan5 forthe frjture The Trustee5 will be lookingto conttnue to encourage and asslst the development of the Roman Cathollc falth In our parlshes and loral Catholic 5chooSs. During the past year, the Trustees engaged the servKes of a historic buildings surveyor, Philip HuBhes ASsrateS LLP, to survey and prere a Schedule for repair5 for St Benedlcys Church. Stratton on the F0$5e, and the Holy Ghost Church in Midsorner Norton. We twait the final report and wornmendations to the Trustees who will begin to implement the recommendations of these rewrts, workin8 closely with Historlc En8land and the Southern Hlstoric Churches Committee. The first stage of utility Improvementsfor St Benedlrt's churih, fkts and hall Is scheduled for 2026. The monastlc community which generally provldès the clergy for our rIsh and mission attivity continue their discernment frorn theirtemporary home in Hereford. It is hopedthat in 2026 theTrust will be able to ad3Pt2nden8a8e In new missionary and pastoral work once thls periDd of discernment is complete. The Trustees will be workine with the Charity Commi$5iOn to understand whether the Chariry should be repurposed or am8lg3mated in some way. The Trusteeswill ensure thatthe parish and mission funds and artivities are restritted and In line wlth the oblectlveg and aims of the Mlsslon Trust. Strurturej governance and management Downslde Abbey Mlsslons Trust was constltuted by Trust Deed in May 1932 ès amended by Deed of Variation dated 6 October 2009,. it 15 a registered charity, nurnber 232550. The Trustee of Downside Abbey Missions Trust is The Downside Abbey l¢ornmonly known as the £50 Trust). belng an incorporated body of Trustees and reglstered charity number 232549. The following nx)nks made up the Board ofTrustees.' Rt Rev Abbot Nlcholas Phlllp Wet2 Icontrollerof the Trust) Rev Martin Joseph Blanco Hood Rev Marc Davld Brumwell Organlsatlonal 5tru¢wre The prlncipal attivlty of the Charfty Ss to manage and adrnlnlsterthe capital funds, deposits and financlal tranCtionS of the Roman Catholic parlsh in StFatton on the Fosse in the furtherance of the objects of the Trust Deed. The Parish priest is responsible to the Trustees forthe running of the parlsh account. TheTrustees author15e grants and loans out of the Central funds tothe parlsh. Management The Controllerof the Trust, being the Abbot of DDwnslde, has absolute dlscretlon over the appointment and removal of Trustees of The Downslde Abbey General Trust leommonFy known asThe £50 Trust). The practi isforthe MonastlcCorntnvnttyt05electcertèlnof itsmernbersto beTrustee5and forthe othersto beappolnted by the Abbot.
DOWNSIDE ABBEY MISSION TRUST TRUSTEES REPORT {CONTINUED} FOR THEYEAR ENDED 31 DECEMBER 2025 Connetted Entkles The followln8 entities are tonnected to Downslde Abbey Misslons frust:. DownsSde AbbeyGeneral Trust IA Company Umlted by Guarantee), Downside Abbey. Stratton-on-thFO5se, Bath. BA3 4RH ICh3rlty Number 11585071. The above entltles are controlled by The Downslde Abbey (commonly known as The £50 Trust) Ing an incorporated body of Trustees (Charity Number 2325491. The a55et5 of Downslde Abbey General Trust ère held separately from those of Downslde Abbey Missions Trust. Statement of trustees, respon5ibilit4es The trustees are responsible for preparlngthe Trustees Report and the financlal statement5 in accordance with applicable law and United Kingdom Accountin8 Standards (United Kingdom Gener31ty Accepted Accountlng Practlcel. The lawappllcable10 charltles In England and Wales requlresthe trustee5 to prepare hnanclal ststementsfor each financlal yèar which give a true and falr view of the state of affalrs of the Charlty and of the incomlng resources and application of resources of the Charity forthat year. In prerIng these financi31 staternents, the trustees are required to: select sultable accounting policies and then apply them consistentW,' - observe the methods and princlples in the Ch3ritles SORP- - make judgement5 and estimate5 that are reasonable and prudent.. stste whether applicable accounting ttandards have been followed. subject to any rnaterlal departures disclosed and explained in the financial statements,- and ppa the financial Statements on the going conc2m basls unless it is inappropriate to presurne that the charlty VAII tontinue sn operatlon. The trustees are responsiblefor keeping sufFicient accountln8records that dlsclose wrth re850n3ble accuraryatanytimethe financial p051tion of the Charity8nd enablethemtoensure thatthe financial st8tement5 cornply with the CharltlesAct 2011. the Charity IAccounts and Report51 Regulatlons 2008 and the provisions of the trust deed. They are also responsible for 53feguarding the assets of the Charlty and hence for taking reasonable steps forthe prevention and detection of fraud and other irrègularities. The trustees. report was approved by the Board of Trustees. Rt Rev Abbot Nlcholas Phlllp Wètr Icontrollerof th•frustl Trustee Dated..
DOWNSIDE ABBEY MISSION TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DOWNSIDE ABBEY MISSION TRUST I reporttothetrustees on my examinatlon of the financial ststementsol Downslde Abbey mIsOn Trust (the Ch¥rkyl forthe year ended 31 Dember 2025. Responslbllltles and basls of report As the trustees of the Charity you are responsible for the preparatlon of the flnanclal stateft*nt9 In èccordance with the Tequlrements of the Charities Act 2011 Ithe 2011 Artl. I report In respect of my examlnation of the Charity's flnancial 5taternents carried out under sectlon 145 ol the 2011 Act. In carrying out tny exarnlnation I have followed all the applicable Directlons glven by the Charity Commssion under section 14515llbl of the 2011 Act. Independent exarnlner's Statement I have completed myexamlnation. I confimi that no ff4tters have come to my attentioTr In conwectlon wlth the exatDiThatlOSl 8fvlng rne cause to belKwethat ir% any material respect.. accountlng records were not kept in respett of the Charity as quId by 5tion 130 of the 2011 Act.. or the financial statements do not 3ccord with those record5', or the flnancial statements do not complywiththe appllcable requlrements concernlngtheform and content of accounts set out In the Charitles (Accounts and Reports) Regulations 2008 other than any QUirerent that the accourts give a true and fairview which is not a rnatter consldered a5 part of an 1ndependent examination. I have no concernsand have corne acr05s no other matter5 in connectlon wlth the examination to whlch attention should be drawn in thi5 report ¢n order to enable a proper understandlng of the flnancial statements to be reached. m Lenvlll FCA BFP Milsted Langtbn LLP 4 Queen Street BATH 5omer5et BAI IHE Dated.. 21112025
DOWNSIDE ABBEY MISSION TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestrkted funds fndowmirt funds Totsl 2025 Yot41 2024 funds 2025 Income Donation5 and legacles Investments 32.299 9,(? 35,193 9.087 42,568 8.1fy) Total In¢omead 41.386 2,894 44.280 Ch3ritableatti¥ities 4469 3,394 47,463 49,375 Netgai05 on investments io Net leXwndur]/tomQ fotthe yeavl Net muvementln fvnds I2.6) 15(N)I I3,> L293 Fund balances at lJanuary2025 676,537 11.373 688,410 687,117 Fund balanc•5 at 31 DIrnbel 2025 673,8S4 11?73 68S.227 688,410
DOWNSIDE ABBEY MISSION TRUST BALANCE SHEET AS AT 31 DECEMBER 2025 Note5 FiN•d 45$ T3Dgible asse15 InvestmeDt propertles 12 13 191,678 400,WO 189,448 400.ow 591.678 589,448 Cytrentasws Debtors Cash at b3nk in hand 50.437 45,512 1,062 100,30D 95,949 IDI,362 Creditors- •moynts f•llln8 du•thIn one year 15 12,AODI I2,4> Net Curreni assets 93,549 98,962 Total •ssets 5$ ¢utyent IlabllRles 685,227 688.410 685.227 688,410 C*pitalfvnds EndDwmentfunds 16 11.373 11,373 lThcome funds 17 sao Unrestrlrted fvnds 673,854 676,537 685,227 688,410 The financlal statements were approved by the Trusteeson 20 August 2026 Rt Rev Abbot Nicholas Philip Wetz (Controlr of the Tru5tl TrLlStee
DOWNSIDE ABBEY MISSION TRUST NOTESTO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 l. Accountlr pollcies Char¥ Inforniation Downside Abbey Mlsslon Trust Is a registered charity in England and Wales. Its prlnclp31 ofFlce 15 Oownslde Abbey, str7ttonn-the-Fo$se. Radstock, BA34RH. The financial ststernents have been ppad In accordance wtth the Charity's governing document, the Charitl&s Act 2011, FRS 102 The Financlal Reportlng Standard applitable In the UK and Republic of Ire13nd" I"FRS 102.1 and the Charitle$ 50RP "Accountlng and Rerorting by Charities.. Statement of Recommended Practice applicable to charitles prepar5ng thelr accounts In accord3nce wlth the Financi81 Reporting Standarr$ applicable in the UK and Republic of Ireland IFRS 1021. (effective l January 20191. The charity Is a Publlc 8enefit Entity asdefined by FRS 102. The Charlty ha5 taken advantage of the provlslons In the SORP for charities riotto prepare a Statement of Cash Flows. The financ1315taternents have departed from the Charltles IAccounts and Report51 Regulatlons 2008 only to the extent reqUIt0 providÈa true aftdfaSrvlew.Thi5 departure ha5 involvedfollowin8 the Statement of Recommended Prattice for charltles applying FRS 102 rdtherthan the veTsion of the Statement of Recommended Practlce which is referred to in the Regulatlons but which has 51nce been withdr8Wn. ThÈ finaThclal #aternents are prepared in 5terlinB. which 15 the funrtional currency of the charfty. Monetsry arnounts In these financial ststement5 arE rgunded to the nearest £. The fSnanclal statement5 have been prepared under the hlstorlc31 cost convontlon, rnodlfied to include the revaluation of 5nvestment propertles and rtaIn fSnancial instruments at fair value. The princlpal accountlng wllcles adopted are set out below. 1.2 Going corKern At the tiffle ol approvlnR thè lin3nci31 statements, the trustees have a reasonable expectstion that the Charity ho5 adequate re50urcesto contlnue in operational eKlStence forthe foreseeable fiJture.Thus,thetrusteestontinuetoadopt the golng concern basls of accounting in preparin8the financial 5taternents 1.3 Chafltable fijnds Unrestricted funds are avallablefor use atthe dlscretlon of th8trustee5 In turtherance of their charitsble objettNes. For adrnini5tr3te purpose5 thefvnd$ 3re splti l)etween the Mlsslon Fund and the Parish Funds. Restrlcted funds are subject to $peciic conditlon5 by donors or8rantor5 ?5 tD how they may be used. The purptssesand uses of the restritted funds a setotrt in the notes to thefinan£ial staterrÉnts. Endtswment funds are subject to specific wnditions by donor5 that the capital must rnalntained by the Charlty. 1.4 Intome Income is retognised when the charity Is legally entltled to It after any perfofrnan condition5 have ken met, the mount5 can be measured reliably, and it Is probabl@ that income wlll be received.
DOWNSIDE ABBEY MISSION TRUST NOTESTO THE FINANCIAL sfATEMENTS {COMTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 l. Accounting pollcle5 (Continued) Cash donatlons 3re recognised on recelpt. (Xher donation5 4re recognised once the charity has been notifled of the donation, Un5$ performance conditions require deferral of the amount. Incorne tsx recoverable in rÈ13tion to donation5 recelved under6rft Aid or deeds of covenant Is recognised at the tlme of th@ donation. Legaciesare recognised on reIptorothQrW1sèlf thecharky has been notifiedof an impendin8distribution,the amount is knovm, and receipt is expected. Ilthe amount Is not known. the legacy istreated as a contlngent asset. Income is measured 3t the fair value of the consideration received 01 receiv31)le and r@presents arnounts receivable for goods and services provided In the normal course of business. net of diseounts, VAT and other sales related taxe IS Expendlturt ResourS expended are aetounted for In the perlod is which they are incurred. The irrecoverable element of the VAT is Included in the item of exp&nsè to which it relates. Where an itetn of exndItU falls directty wlthln one cost category rt 15 attrlbuted to that tegory only, Where eKpendituTe Involves more than one category It Is apportloned on a reasonable andlustifiable basis. Grants and donations are included In the Statement of Fin3ncial Actlvltles in the year when they become payat>le. 1.6 TanElblefixed assets Tanglble fixed assets are initialty rneaSLtd 8t cost and subsequently asUred at C05t orv8luation, net of deprecSatlon and any irnpairTnent10sS&S. Depreciation is recoonised $0 as to wrlte off the c05t or valuatlon of assets less thelr resldual valuég over their useful liv&s on the following bases.. Land and buildings 20-100 years Stralght Ilne Fixtures, fi"tknngs & equlpment 15% reducing balance Motorvehlc 20% stralEht line Items over £l.000 are capttallsed. 1.7 Investment propÈrtv Investment property,whith 15 property held to earn rentslsand/orforcapltal appreclation, Is Inttlally retognised atcost, which includes the purchase cost and any directly attributable expenditure. Subsequently tt Is rnea5ured at falr value at the r8POrtln8 datè. Thè &urplus or d•ftclt on rèvaluation is r•¢o8ni4¢d in the Staten)ènt of FihBnci41 Activit5¢s. 1.8 IMp41rnt otfixed assws At earh reportlng end date, the Charlty revlewsthe carrying arnounts of Its tangible assets to determine whetherthere 15 any indication that those assets have suffered impairment 1055. If 4ny such indication exists, the recoverable amount of the a55et isestimated in order to determine the extent of the impairment loss lif anvl. io-
DOWNSIDE ABBEY MISSION TRUST N(yfESTO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 DECEMBER 2025 Accountlng polldes 1.9 Cash and cash eoulvaleb Icontinuedl Cash and cash equlvalents Include cash In hand, deposks held at call wlth banks, other short-temi Iiquld Investments with ori8in31 maturltles of three months or le55, and bank overdrafts. Bank overdr8fts a shown within borrowings In 1.10 Anandal In5twments The Charfty has elected to apply the provSslons of Section 11 'Basic Financial Instruments, and Section 12 '0ther Flnanclal Instrurnents Issues, of FRS 102 to all ol ks financlal instruments. Flnanclal Instruments? recognlsed In the Charlty'5 balan sheetwhen the (harltytrcomes partytothe¢ontr3Ctual provlsions of the instrument. Financlal 3ssets and liabilities arè offset. with the net arnounts presented in the financial statement5, when there is a legally enforceable right to set off the recogni5ed amount5 and there is an intention to settle on a net basis or to allse the asset and setdethe liabillty simultaneously. Basic financial assets. which include debtors and cash and bank balances, are initSally rneasured at tranCtIOn prfce in¢ludin8ttansattion costs and ère Subsequer?t carriÈd at amortlsed c05t uslngthe effective Interest method unless the arrangement con5titLrtes 3 flnanclng transaction. where the trans3ctkJn is meaSUd at the present value of the future Teceipts dlscounted ata market rate of interest. Flnanclèl a55et5 cla551fSed a5 recelvable within one year are not arnortised. Boslcflnundolllsbffllits Basic ftnan<ial liabilitie5, sncluding creditor5 and bank loan5 are initially recogn15ed at tran5actlon prlce unless the aryangement constltutes a flnanclng transactlon, where the debt instrument Is measured at the present value of the future payments dSscounted at a market rate of interest. Flnanci31 Ilabllitle5 classlfled as paygble wlthln one year are not amortised. Debt1Tr5tfuments a subsequently Carried at amortised cost. usin8 the effectwe interest rate nthod. Trade crÈdltors are obligations to pay for 8oods or Services that have been acquired in the ordinary course of operatlons fiorn suppliers. Amount5 payable are classified a5 current li3bllltle5 if payment is due withln one year or less. If not, they are prèsented 35 non-current li3bilities. Trade credEtors a recognised Inltially at transèrtion price and subsequently measured at anrtisEd cost using the effectlve interest rnethod. Derecognition oAfinGnciGlllubllftles FinanckBI lialIt5 are dereco8n5sed when the charfs contractual obligatlons expire or are dlsehar8td ortanlled. 1.11 Émployee benefits The cost of any unused holiday entitlement Is recognlsed In the perfod in whlch the employee's seNicès are rtteived. Termlnatlon benefits are recognlsed immediately as an expense when thè Charity is demonstrabty committed to terminate the eM0¥ment of an employee or to prtsvide termination benefits. li-
DOWN51DE ABBEY MISSION TRUST NOTES TO THE FINANCIAL sfATEMENTS ICONTINUEDI FOR THEYEAR ENDED 31 DECEMBER 2025 Critlr41 a¢wuntlnB estimates aryljudgements In the application of the char¢$ accounting pollcles. the trustee5 are required to make judgernents, estimates and assumptions awut the carry5n8 amountof a55ets and Ilabiiitles that are not readllyapparent from other sour¢e5. The estimates and associated assumptlon5 are based on historical experlence and otherfactors that are con51dered to be relevant. Actual results may dlfferfrom these e5tirnates. The e5tlmates and underlylng assurnptlons are revlewed on an on8olng basls. Revlsions to accounting estimates are cognised in the rIOd In whlch the estimate Is revlsed where the VisIon affects only that perk)d. or in the perlod of the revlslon and future periodswhere the wision affects both current and future pertods. Koy 50ur(e50felllm*lon uncwtalnty The estimates and assumptions which have a $18nificant risk of causln8 a material adjustment to the carrying arnount of a55ets and Ilabllltles a as folk)ws. Depreclatton Thetru5tee5 use thelr knowledge of the charltyto est5mate the useful lffeand resldual of tanglble flxed assets In order to arrive at appllcable depreclation rates. In accordance with sectlon 17 of FR502, the trustees revlew and update these e5timate5 if there are indlcator5 that current estlmates should change. Durlngthe yèar there was no change in the depreclatlon rates. Donatlons and le8ade5 Unr¢strl(led Restrltted Total Total fund5 funds 2025 Donatlons and glfts Collectlons and fiJndraisln8 Grant Incorne 150 150 750 31,665 2,894 34,559 40,068 1,750 32,299 2.894 35,193 42.568 Forthe yèar Ènded al December 2024 36,341 6,227 42,568 12-
DOWNSIDE ABBEY MISSION TRUST N(yfESTO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 4 In¥estm@rts Unrestrlcted Endowment Totsl Total funds fund5 2025 2024 Rental Income 8,650 8,650 8,1 Investment Income 437 437 9,087 9,087 8,100 For the yearended 31 Deternb?r 2024 8.100 8,100 5 Expendlture on charitable actlvltles 202S 2024 Lllfett costs Grant fundlnE of activttles (see note 61 3,394 8,462 Share of 5UPPOrt a1 governan tOSts (see note 71 Supp)rt Governance 41,669 2,400 38,513 2.400 47.463 49,375 AnHly¥ls by fvnd Unrestrlcted funds Restrfcted funds 44,069 3,394 43,648 5.727 47,463 49.375 13-
DOWNSIDE ABBEY MISSION TRUST NOTES TO THE FINANaAL sfATEMEl+irs IcoTrmNUEOI FOR THE YEAR ENDED 31 DECEMBER 2025 6 Grants Pavable 2025 2024 Grants to institutlons: Second Collectlons Isee belowl Downside Abbey General Trust 3,394 6,962 1,5trf) 3,394 8.462 Parish@s raise money for speclfl¢ charities and funds. second collectlons represent the expenditure latIn8 to those donations. 7 Support costs Support cost5 Governance Costs 2025 2024 stsff costs Deprec5atlon 10.790 10,790 11,107 13,206 Church and related expenses Rep31rs 2nd msintenance 13.428 13,428 6.331 6.331 5,072 Accountancy Le8al and profe55ional 5,263 5.263 2.C170 Priests. Maintenance 5,857 5.857 7.058 Independent Examlnersfees 2,400 41,669 2,AIKJ 44.9 40.913 Analysed between Charfcable activities 41.669 2,400 44,069 40,913 In addition tothe Independent ExJminerfeesshown above. included within support cogts are accountancyfees pyable tothè Independent Ex3rniner lo respect of accountancy and other5ervices of £nil12024.. £nill. 14-
DOWNSIDE ABBEY MISSION TRUST NOTES TOTHE HNANaAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 None of the trusteès lorèny wrsons connerted with them) rÈTrNed any mUneratIOn durlng the year, and none of them wÈre relmbursed anyÈxpenses12024: £nlll bythe Charty. Prfests, mèirtenance costs as Shown In note 7 are led by Downside Atsy General Trust towards the cost of maintenance of the parish priests. The par15hes arÈchor8ed in propDrtlon tothe amount of the prlest's working tirne at the parishe5. Employees The aver38e monthly number of employees durln8 the year was.. 2025 2024 Numl)er Number Employment ¢0sts 2025 Wa8es and salarios During the yearended 31 Decèmber 2025 the charity did not have any ernployees. Therè were no trrnployee$ whose annual remuneratlon wa5 £60,000 or rnore. 10 galnslllosse51 on InvÈ5tments 2025 20Z4 Rev4luarion of Imie5tff*nt properhes 11 Taxatlon The charity Isexemptfrom taxation OTr ltsactivities betause all $ Incorne Is applled forcharitable purposes. 15-
DOWNSIDE ABBEY MISSION TRUST NOTES TOTrIE FINANaAL STATEMENfs(CONTtNUED) FOR THEYEAR ENDED 31 DECEMBER 2025 12 Taryible FIN Ass•ts Land and bulldlngs xlures. frttlngs & equlpment Motor vehlcles Totsl At ljanuary 2025 AdditlOn5 Disposals 318,656 29,333 2,520 3,000 10,500 350,989 13.020 At 31 December 2025 318,6S6 31,853 13,SOO 364,009 Depre¢iation and Impaimltnt At l January 2025 142,967 17,274 1,300 161,541 Depreclation char8ed in the year Ellminated In SpeCt of disposals At 31 December 2025 8.381 1.809 600 10.790 151.348 19,083 172,331 Carrylng amount At 31 December 2025 167,308 12,770 11,600 191,678 At 31 December 2024 175,689 12,059 1.700 189,448 Legal title to rtaIn of the freehold properties is held by Downside Abbey General Trust. The properties are held by Downside Abbey General Trust lorthe benefit of the Mis5iQn5Trustforas longa5they used as partof the Charlty's mlssion. These properties are included in the Missh)nsTrust financlal statements. 13 Investment Property 2025 Falrvalue At l January 2025 400,CX)O Net eains or losses through fairvalue adlu5trTnents At 31 December 2025 400.IXX) The investment property was v3lued by 8 firm of Estate Agents, In February 2026. The trustee5 believe that the valuation Is re*lettive a5 at 31 December 2025.
DOWNSIDE ABBEY MISSION TRUST 4)TES TO THE FINANOALSTATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Debtors 2025 2024 Arnounts f•llin¥due wltFMn one year. herdebtors 50,437 1,062 50,437 1,062 15 Credttots: amouwts falllngdue wlthln one year 2024 Accruals and defe¥red income 2,41N) 2,4C 16 Endowrnent funds Endowmentfunds rEPTesentassetswhich must be held permanentlybythe Charlty. In¢ornearlsln8 onthe endowment fund5 can be used In accordance with the objects of the Charlty and Ss Included a5 unrestricted incorne. Any capltal 8alns or105se5 arisingon the asseisform part of the fund. Mo¥emort Sn Out8olng resources 8alano at I January 2025 IncomlnR rèsour Balance at 31 December ZOZ5 Permangnt endowments Clersy Maintenan¢e IL373 11,373 IL373 11,373 Prhr Year Movemerrt Infunds Balae at I Inwmlng Outgolng Transftrs Balance at 31 January 2024 resour resource5 Dgc•mber2024 pemianent endowmerts aergy MainterTrance 11,373 11,373 11,373 11,373 Endowment Interest Is avallable to be spent a5 Unrestrlcted Funds wlthin the Mission Fund parishes shown. Any Incomè rettived In the year15 transfer to UnFe5tritted MIS0 Fund Funds, In or(ler that endowed balances are stated at thtrir ¢apitsl val. 17-
DOWNSIDE ABBEY MISSION TRUST NOTESTOTHE RNANaAL sfATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2025 17 Restslcted fuNIs The $tried funds of the charity CQrnPTise the unexpended balances of donatlon$ and grants held on trusr subject to s¢¢ condltlons by donors asto howthey may be used. Movement In fund5 OutBolng Trnnsfers resources Balant• at i J•nuary2025 IrKomln8 resoulces Balaft at al December 2025 Second Collections 5(X) 2.894 3,394 2A94 13.3941 Prloryear Movemènt in fund5 Balance at I Incoming Outgoln8 Transfers Balan(e at 31 January2024 rgsourtes December 2024 Second Collections 6,227 15,7271 500 6,227 15,7271 5CKJ Parishes raise moTreyfor specific ¢haritiesand funds. Second Collethons representsthe expendlture relatlng tothose donatlons. 18-
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DOWNSIDE ABBEY MISSION TRUST NOTES TO THE FINANaAL sfATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 19 Analysls of net 85set5 between fund$ Unre5trSrted fund5 Restrftted fvnd5 Endowment funds Total Fund balances at 31 Dernber 2025 are repsented by.. Tanglble assets InvÈstment Propertieg (rnt asset511113bllltlesl 191,678 400,000 82,176 191,678 400,OLX) 93.549 11,373 673,854 11,373 685.227 Prior Year Unrestritted funds Restricted funds Endowment fvnd5 Totsl Fund balances at 310ecember 2024 are repsented by.. Tangible assets Investment Propertles Current èssetsllliabilitlesl 189,448 4,000 189,448 400,000 98,962 500 11,373 676,537 500 11,373 688,410 20 Related party transactlons Durin8 the year £5,857 12024'.£7,0581 was p3yable to Downside Abbey General Trust in respect of priests, MaIntenan costs. During the year £471.1412024=£nill was ld frorn Downside Ab¥ General Trust in respect of Donations received on behalf of the Pamsh. To maximise interest tumSON surplus cash, £50,000 has been transferred to tk)wnside AbbeyGeneral TrusttoBIIow these funds to deposfted in Short term treasury deposlts with 8arclays whlch reouire 3 minimum of £lOO,tM)o deposlt to u* the facility. The Inte$t generated, from these deposits, on the Downslde Abbey Mlssion Trust funds are separately recorded and accountedfor. As at 31st tjecernber 2025, Downside Abbey General Trust owes Downside Abbey Mission Trust £50,437 In respect of the Inltlal É50,(KK) deposlt and £437 of accrued Interest. see note 14. During the year Downside Abbey Mi55ion Trust purchased a vehicle from Downslde AbbÈy General Trust for £10.51KI. Down51de Abbey Misslon Trust and Downside Abbey General Trust are related parties. by virtue of sharing the Same Trustees, as both entities are controlled by The Downside Abbey (commonly known as The £50 Trustl belng an incorpor8ted body of Trustees (Charity Number 2325491. -20-