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2024-04-30-accounts
| Trustees'Report |
1to5 |
| Independent Auditors'Report |
6to9 |
| StatementofFinancialActivities |
10 |
| BalanceSheet |
11 |
| StatementofCashFlows |
12 |
| NotestotheFinancialStatements |
13to23 |
| Trustees: |
ProfAA Pepper,(Chair) |
|
RevdPAVanRossum(resigned2 December2024) |
|
CWSaxby (appointed14September2023) |
|
ECHolland(resigned19September2024) |
|
RevdCanonDrGRCappleman |
|
RevdCanon A0Ladipo(resigned19September2024) |
|
FENouri |
|
DMorton, (appointed6December2024) |
| Secretary: |
CLC SecretarialServicesLimited |
| Charity Registration Number |
232667 |
| Company Registration Number |
00764727 |
| Registered Office |
LeeAbbey |
|
Lynton |
|
Devon |
|
EX356JJ |
| Auditor |
Westcotts(SW)LLP |
|
47Boutport Street |
|
Barnstaple |
|
Devon |
|
EX311SQ |
| Solicitors: |
CarterLemonCamerons |
|
3rdFloor,20KingStreet |
|
London |
|
EC2V8EG |
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
funds |
funds |
2024 |
2023 |
|
Note |
£ |
£ |
£ |
£ |
| **Income and Endowments ** |
from: |
|
|
|
|
| Donationsandlegacies |
3 |
1,575 |
52,700 |
54,275 |
52,426 |
| Charitableactivities |
4 |
2,392,607 |
|
2,392,607 |
2,209,532 |
| Othertradingactivities |
5 |
8,934 |
|
8,934 |
36,565 |
| Investmentincome |
6 |
12,954 |
|
12,954 |
415 |
| Totalincome |
|
2,416,070 |
52,700 |
2,468,770 |
2,298,938 |
| Expenditure on: |
|
|
|
|
|
| Charitableactivities |
7 |
(2,219,602) |
(52,682) |
(2,272,284) |
(2,043,142) |
| Totalexpenditure |
|
(2,219,602) |
(52,682) |
(2,272,284) |
(2,043,142) |
| Netincome |
|
196,468 |
18 |
196,486 |
255,796 |
| Netmovementinfunds |
|
196,468 |
18 |
196,486 |
255,796 |
| Reconciliation of funds |
|
|
|
|
|
| Totalfundsbrought forward |
|
3,912,581 |
77,134 |
3,989,715 |
3,733,919 |
| Totalfundscarriedforward |
18 |
4,109,049 |
77,152 |
4,186,201 |
3,989,715 |
(Registration number: 00764727)
Balance Sheet as at 30 April 2024 |
|
|
|
|
|
2024 |
2023 |
|
Note |
£ |
£ |
| Fixed assets |
|
|
|
| Tangibleassets |
12 |
5,373,528 |
5,427,247 |
| Current assets |
|
|
|
| Debtors |
13 |
51,578 |
77,030 |
| Cashatbank andinhand |
14 |
708,669 |
587,054 |
|
|
760,247 |
664,084 |
| Creditors: Amounts falling due within one year |
15 |
(947,810) |
(936,663) |
| Net current liabilities |
|
(187,563) |
(272,579) |
| Total assets less current liabilities |
|
5,185,965 |
5,154,668 |
| Creditors: Amounts falling due after more than one year |
16 |
(999,764) |
(1,164.953) |
| Net assets |
|
4,186,201 |
3,989,715 |
| Funds of the charity: |
|
|
|
| Restricted income funds |
|
|
|
| Restrictedfunds |
|
77,152 |
77,134 |
| Unrestricted income funds |
|
|
|
| Unrestrictedfunds |
|
4,109,049 |
3,912,581 |
| Total funds |
18 |
4,186,201 |
3,989,715 |
|
|
2024 |
2023 |
|
Note |
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Netcashincome |
|
196,486 |
255,796 |
| Adjustments to cash flows from non-cash items |
|
|
|
| Depreciation |
|
286,461 |
285,397 |
| Investment income |
6 |
(12,954) |
(415) |
|
|
469,993 |
540,778 |
| Working capital adjustments |
|
|
|
| Decreaseinstocks |
|
|
8,361 |
| Decreaseindebtors |
13 |
25,452 |
50,537 |
| Decreaseincreditors |
15 |
(154,042) |
(198,752) |
| Netcashflowsfromoperatingactivities |
|
341,403 |
400,924 |
| Cash flows from investing activities |
|
|
|
| Interestreceivableandsimilarincome |
6 |
12,954 |
415 |
| Purchaseoftangiblefixedassets |
12 |
(232,742) |
(10,214) |
| Netcashflowsfrominvestingactivities |
|
(219,788) |
(9,799) |
| Netincreaseincashandcashequivalents |
|
121,615 |
391,125 |
| Cashandcashequivalents at1May |
|
587,054 |
195,929 |
| Cashandcashequivalents at30 April |
|
708,669 |
587,054 |
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
2024 |
|
£ |
£ |
£ |
| Donations |
1,575 |
52,700 |
54,275 |
|
1,575 |
52,700 |
54,275 |
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
2023 |
|
£ |
£ |
£ |
| Donations |
3,460 |
48,966 |
52,426 |
|
3,460 |
48,966 |
52,426 |
| Income from charitable activities |
|
|
|
|
Unrestricted |
Total |
Total |
|
funds |
2024 |
2023 |
|
£ |
£ |
£ |
| Guest fees |
541,644 |
541,644 |
512,507 |
| Roomhire |
285 |
285 |
4,097 |
| Laundretteincome |
|
|
960 |
| Resident feesandincomefromrunninghostel |
1,839,443 |
1,839,443 |
1,670,344 |
| Sundryincome |
11,235 |
11,235 |
21,624 |
|
2,392,607 |
2,392,607 |
2,209,532 |
| Unrestricted |
Total |
| funds |
2024 |
| £ |
£ |
| 8,934 |
8,934 |
| 8,934 |
8,934 |
| Unrestricted |
Total |
| funds |
2023 |
| £ |
£ |
| 36,565 |
36,565 |
| 36,565 |
36,565 |
| Unrestricted |
Total |
| funds |
2024 |
| £ |
£ |
| 12,954 |
12,954 |
| 12.954 |
12,954 |
| Unrestricted |
Total |
| funds |
2023 |
| £ |
£ |
| 415 |
415 |
| 415 |
415 |
7
**Expenditure on ** |
charitable a |
ctivities |
|
|
|
|
|
Designated |
Unrestricted |
Restricted |
Total |
|
|
funds |
funds |
funds |
2024 |
|
Note |
£ |
£ |
£ |
£ |
| Themanagement |
|
|
|
|
|
| ofthehosteland |
|
|
|
|
|
| community |
|
141,404 |
1,799,257 |
52,682 |
1,993,343 |
| Allocatedsupport |
|
|
|
|
|
| costs |
8 |
|
278,941 |
|
278,941 |
|
|
141,404 |
2,078,198 |
52,682 |
2,272,284 |
|
|
Designated |
Unrestricted |
Restricted |
Total |
|
|
funds |
funds |
funds |
2023 |
|
Note |
£ |
£ |
£ |
£ |
| Themanagement |
|
|
|
|
|
| ofthehosteland |
|
|
|
|
|
| community |
|
145,225 |
1,604,805 |
|
1,750,030 |
| Allocated support |
|
|
|
|
|
| costs |
8 |
|
244,477 |
48,635 |
293,112 |
|
|
145,225 |
1,849,282 |
48,635 |
2,043,142 |
| Support costs allocated to charitable activities |
|
|
|
|
Support |
Total |
Total |
|
costs |
2024 |
2023 |
|
£ |
£ |
£ |
| Bank charges |
553 |
553 |
1,650 |
| Bank interest payable |
75,993 |
75,993 |
77,572 |
| Insurance |
53,069 |
53,069 |
39,756 |
| Telephoneandfax |
12,941 |
12,941 |
7,693 |
| Officeexpenses |
12,884 |
12,884 |
31,529 |
| Contribution toLeeAbbey Movement |
41,000 |
41,000 |
41,000 |
| Motorexpenses |
747 |
747 |
751 |
| Theauditofthecharity's annualaccounts |
13,618 |
13,618 |
11,073 |
| Legalandprofessionalfees |
4,140 |
4,140 |
17,790 |
| Grantsandscholarships |
63,996 |
63,996 |
64,298 |
|
278,941 |
278,941 |
293,112 |
9
Net incoming/outgoing resources
Netincomingresources forthe yearinclude: |
|
|
|
2024 |
2023 |
|
£ |
£ |
| Depreciationoffixedassets |
286,460 |
285,397 |
| Thetotalstaffcostsandbenefitsforthereportingperiodare |
analysedasfollows: |
|
|
2024 |
2023 |
|
No |
No |
| Wages,salariesandcommunityallowances |
212,090 |
185,291 |
| Socialsecuritycosts |
23,292 |
18,922 |
| Employer contributionstopensionplans |
19,471 |
23,229 |
|
254,853 |
227,442 |
The average head count during the year was 25 (
equivalentsduringtheyearisanalysed asfollows: |
2023: 25). The average number |
of full-time |
|
2024 |
2023 |
|
No |
No |
| Runningofhostel |
20 |
20 |
| Management andadministration |
5 |
5 |
|
25 |
25 |
| 12 Tangible fixed assets |
|
|
|
|
|
Furniture |
|
|
Land and |
and |
|
|
buildings |
equipment |
Total |
|
£ |
£ |
£ |
| Cost |
|
|
|
| At1May2023 |
8,275,840 |
1,915,949 |
10,191,789 |
| Additions |
141,130 |
91,612 |
232,742 |
| At30April 2024 |
8,416,970 |
2,007,561 |
10,424,531 |
| Depreciation |
|
|
|
| At1May2023 |
3,368,856 |
1,395,686 |
4,764,542 |
| Chargefortheyear |
141,404 |
145,057 |
286,461 |
| At30April 2024 |
3,510,260 |
1,540,743 |
5,051,003 |
| Net book value |
|
|
|
| At 30April2024 |
4,906,710 |
466,818 |
5,373,528 |
| At30April2023 |
4,906,984 |
520,263 |
5,427,247 |
| 13 Debtors |
|
|
|
2024 |
2023 |
|
£ |
£ |
| Tradedebtors |
39,578 |
46,030 |
| Prepayments |
12,000 |
31,000 |
|
51,578 |
77,030 |
| 14 Cash and cash equivalents |
|
|
|
2024 |
2023 |
|
£ |
£ |
| Cashatbank |
708,669 |
587,054 |
| 15 Creditors: amounts falling due within one year |
|
|
|
2024 |
2023 |
|
£ |
£ |
| Tradecreditors |
148,798 |
100,533 |
| Amountsreceived onaccount |
270,201 |
204,898 |
| Amountowedtogroup undertakings |
194,965 |
240,464 |
| Othertaxationandsocialsecurity |
3,684 |
11,063 |
| Othercreditors |
296,862 |
329,705 |
| Accruals |
33,300 |
50,000 |
|
947,810 |
936,663 |
| 16 Creditors: amounts falling due after one year |
|
|
|
2024 |
2023 |
|
£ |
£ |
| Duetogroupundertakings |
999,764 |
1,164,953 |
| 18 Funds |
|
|
|
|
|
|
Balance at |
|
|
|
Balance at |
|
1 May |
Incoming |
Resources |
|
30 April |
|
2023 |
resources |
expended |
Transfers |
2024 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| GeneralFunds |
(1,504,452) |
2,416,070 |
(1,933,142) |
(242,955) |
(1,264,479) |
| Fixedassetreserve |
1,908,799 |
|
(145,056) |
(104,088) |
1,659,655 |
|
404,347 |
2,416,070 |
(2,078,198) |
(347,043) |
395,176 |
| Designated |
|
|
|
|
|
| DesignatedProperty |
|
|
|
|
|
| reserve |
3,508,234 |
|
(141,404) |
347,043 |
3,713,873 |
| Total unrestricted funds |
3,912,581 |
2,416,070 |
(2,219,602) |
|
4,109,049 |
| Restricted funds |
|
|
|
|
|
| Building theFutureFund |
76,252 |
900 |
|
|
77,152 |
| BursaryFund |
882 |
51,800 |
(52,682) |
|
|
|
77,134 |
52,700 |
(52,682) |
|
77,152 |
| Total funds |
3,989,715 |
2,468,770 |
(2,272,284) |
|
4,186,201 |
|
Balance at |
|
|
|
Balance at |
|
1 May |
Incoming |
Resources |
|
30 April |
|
2022 |
resources |
expended |
Transfers |
2023 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| GeneralFunds |
(2,045,314) |
2,249,972 |
(1,709,110) |
- |
(1,504,452) |
| Fixedassetreserve |
2,347,721 |
|
(140,172) |
(298,750) |
1,908,799 |
|
302,407 |
2,249,972 |
(1,849,282) |
(298,750) |
404,347 |
| Designated |
|
|
|
|
|
| DesignatedProperty |
|
|
|
|
|
| reserve |
3,354,709 |
|
(145,225) |
298,750 |
3,508,234 |
| Total unrestricted funds |
3,657,116 |
2,249,972 |
(1,994,507) |
|
3,912,581 |
| Restricted funds |
|
|
|
|
|
| BuildingtheFutureFund |
75,921 |
1,211 |
(880) |
|
76,252 |
| Bursary Fund |
882 |
47,755 |
(47,755) |
|
882 |
|
76,803 |
48,966 |
(48,635) |
|
77,134 |
| Total funds |
3,733,919 |
2,298,938 |
(2,043,142) |
|
3,989,715 |
| **19 Analysis of net assets between ** |
funds |
|
|
|
Unrestricted |
|
Total funds |
|
funds |
Restricted |
at 30 April |
|
General |
funds |
2024 |
|
£ |
£ |
£ |
| Tangiblefixedassets |
5,373,528 |
|
5,373,528 |
| Currentassets |
683,095 |
77,152 |
760,247 |
| Current liabilities |
(947,810) |
|
(947,810) |
| Creditors over1year |
(999,764) |
|
(999,764) |
| Totalnet assets |
4,109,049 |
77,152 |
4,186.201 |
|
Unrestricted |
|
Total funds |
|
funds |
Restricted |
at 30 April |
|
General |
funds |
2023 |
|
£ |
£ |
£ |
| Tangiblefixedassets |
5,427,247 |
|
5,427,247 |
| Currentassets |
586,950 |
77,134 |
664,084 |
| Currentliabilities |
(936,663) |
|
(936,663) |
| Creditors over1year |
(1,164,953) |
|
(1,164,953) |
| Totalnetassets |
3,912,581 |
77,134 |
3,989,715 |
|
Total |
Total |
|
2024 |
2023 |
|
£ |
£ |
| Income and Endowments from: |
|
|
| Donations andlegacies(analysed below) |
54,275 |
52,426 |
| Charitableactivities(analysedbelow) |
2,392,607 |
2,209,532 |
| Othertradingactivities (analysed below) |
8,934 |
36,565 |
| Investmentincome(analysedbelow) |
12,954 |
415 |
| Totalincome |
2,468,770 |
2,298,938 |
| Expenditure on: |
|
|
| Charitableactivities(analysedbelow) |
(2,272,284) |
(2,043,142) |
| Totalexpenditure |
(2,272,284) |
(2,043,142) |
| Netincome |
196,486 |
255,796 |
| Netmovementinfunds |
196,486 |
255,796 |
| Reconciliation of funds |
|
|
| Totalfundsbroughtforward |
3,989,715 |
3,733.919 |
| Totalfundscarriedforward |
4,186,201 |
3,989,715 |
| Detailed Statement of Financial Activities for th |
**e Year Ended 30 April ** |
2024 |
|
Total |
Total |
|
2024 |
2023 |
|
£ |
£ |
| Donations and legacies |
|
|
| Donationsand legacies |
54,275 |
52426 |
|
54,275 |
52,426 |
| Charitable activities |
|
|
| Guestfees |
541,644 |
512,507 |
| Roomhire |
285 |
4,097 |
| Laundretteincome |
|
960 |
| Residentfeesandincomefromrunninghostel |
1,839,443 |
1,670,344 |
| Sundry income |
11,235 |
21,624 |
|
2,392,607 |
2,209,532 |
| Other trading activities |
|
|
| Flatrental |
8,934 |
36,565 |
|
8,934 |
36,565 |
| Investment income |
|
|
| Bank interestreceivable |
12,954 |
415 |
|
12,954 |
415 |
| Charitable activities |
|
|
| Creditcardcharges |
(5,557) |
(12,923) |
| Communityallowances |
(141,958) |
(93,737) |
| Uniforms |
(2,299) |
(4,221) |
| Clubandsocialexpenses |
(3,759) |
(2,058) |
| Community,pastoralandmissionetc |
(27,203) |
(14,345) |
| Rates |
(56,227) |
(59,538) |
| Light,heatandpower |
(99,031) |
(66,808) |
| Generalmaintenance |
(217,250) |
(155,703) |
| Householdexpenses |
(254,261) |
(85,187) |
| Catering |
(293,232) |
(302,943) |
| Foodandkitchensundries |
(291,152) |
(292,552) |
| Residentstelephoneandinternet |
(25,198) |
(114,689) |
| Sundryexpenses |
(24) |
(5,425) |
| Advertising |
(34,879) |
(27,062) |
| Depreciationoftangiblefixedassets |
(286,460) |
(285,397) |
| Grantsandscholarships |
(63,996) |
(64,298) |
| Bank charges |
(553) |
(1,650) |
| Bank interestpayable |
(75,993) |
(77,572) |
| Insurance |
(53,069) |
(39,756) |
|
Total |
Total |
|
2024 |
2023 |
|
£ |
£ |
| Telephoneandfax |
(12,941) |
(7,693) |
| Officeexpenses |
(12,884) |
(31,529) |
| ContributiontoLeeAbbeyMovement |
(41,000) |
(41,000) |
| Motorexpenses |
(747) |
(751) |
| Theaudit ofthecharity's annualaccounts |
(13,618) |
(11,073) |
| Legalandprofessionalfees |
(4,140) |
(17,790) |
| Staffcosts |
(254,853) |
(227,442) |
|
(2,272,284) |
(2,043,142) |