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|Trustees'Report|1to5|
|---|---|
|Independent Auditors'Report|6to9|
|StatementofFinancialActivities|**10**|
|BalanceSheet|11|
|StatementofCashFlows|**12**|
|NotestotheFinancialStatements|13to23|
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|**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|
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|||**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|
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|**(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|
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|||**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|
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||**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|
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|**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|
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|**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|
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|**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|
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|**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|
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|**9**
**Net incoming/outgoing resources**
Netincomingresources forthe yearinclude:|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Depreciationoffixedassets|286,460|285,397|
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|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|
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|**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|
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|**13 Debtors**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Tradedebtors|39,578|46,030|
|Prepayments|12,000|31,000|
||51,578|77,030|
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|**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|
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|**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|
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|**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|
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||**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|
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|**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)|
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||**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)|