Company registration number.. 00764727
Charity registration numbèr". 232667
Lee Abbey International Students Club
{A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 30 April 2025
WESTCOTTS
CHARTERED ACCOUNTANT$
Ik 8U$INES$ IOVISÈR$

Lee Abbey International Students Club
Contents
Trustees, Report
1to5
Independgnt Audltors, Report
6t09
statement of Financial Actniities
10
Balance Sheet
11
statement of C88h Flows
12
Notes to the Financial Statements
13to24

Lee Abbey Intsrnational Students Club
Trustees, Report
The trustees. who are directors for the purposes of company law, present the annual report together
wth the financial ststements and auditors, report of the tharilable company for the year ended 30
April 2025.
Objectives and activities
The charitys objects are the advancement of the Christian faith worfdwNde through the ministry of
communities of Christians whose shared lives in the fellowship of the Holy Spirit Communicate the
love of God revealed in Christ Jesus, and for education and for other charitable purpose$ beneficial lo
the community. including the furtherance in ways that are charrtable, of the welfare of students and
their families or such of them as may be proper object5 of chanty. These objects are fulfilled by
community of Christians which runs a hostel wf(h a Christsan foundation for students and guests from
any nationality and of any faith or none.
Achlevernents and porformance
The charity is led jointly by James FuKord, Director. Head of Operational and Commercial S8Ncgs.
and the Reverend Sue Cady. Chaplain and Deputy Director.. Head of Pastoral and Student Services.
Together they bring enomious experience of the hospitality industry and Christian ministry to Lee
Abbey.
This has been a good year for the comrnunify, which is flourishing. Student occupancy has continued
lo hovgr around the 150 mark, meaning that the club is effeth'vely ftjll, resuf(ing in good qualty regular
income. We continue to benefrt from alternative sources of income to maintain financial sustainabilty.
mindful always of our charrtable objecis and the Lee Abbey Movement's Purpose to communicate
Christ through relationships.
During the year we incurred some exceptional expendfture on propety repairs, professional fees on
recruiting new trustees, and a redundancy payment, which led to an excess of expendffuro over
income for the year.
The trustees have continued to monitor the financial position of the charity carefully throughgut the
financial year lo ensure continuing financial sustainability.
Going Concern
The Trustees have taken the necessary management actions to ensure the charitys activi(ies
continue lo flourish. They havè determined that when the accounts were prepared there was not a
material uncertainty that casts signrficant doubl on the charitys abilty to eontinue as a going concem
for the foreseeable future.
Publlc Beneflt
In setting objectives and planning activities the Trustees have continued to take careful notice of the
Charty Commission's general guidan￿ on public benefit and in particuLgr its supplementsry guKlance
on the advan￿ment of ￿ligIOn and on fee-charging. The Trustees are sa115fied that the aclivrties of
the charity, in particular rts mission lo international students living in London. are in accordance with
the public benefrt requirement of charity law.
Flnancial revigw
Principal Funding Sources
Our principal funding source Continues lo be our resident fees. Resident fees were £1.944,919,
constituting 79% of our activity income 12024 £1,839,443 - 76Wol. Guest Fees were £511.654
nstituting 21 OA of activity income {2024 - £541.644).
Page 1

Lee Abbey Internatlonal Students Club
Trustees. Report
We continue to be grateful lo Lee Abbvy Friends and other8 for donatsons received in support of our
mlssion.
Reserves
The charity currently seeks to generate free reserves at a level which will enable the continued
refurbishment of the building, and to provide a reserve lo meet any likely contingency. Long-term cash
ow lorecasls are produced to ensure that feserves are adequ8te for these purposes. At the end of
the year, there was approximately 2.3 months12024- 4 months) of expenditure in cash.
This policy is reviewed annually by the board in conjunction with the preparation of the budget and
annual cash flow forecasts.
The charity has made use of a £400,000 credit facility provided by National Westrninster Bank plc to
The Lee Abbey Movement in December 2020 as part of the UK Government's Coronavirus Business
Interruption Loan Scherne, whth is being repaid in line wrth the terms of the facilty.
Investment Powers, Policy and perf0m￿nCe
Under the Memorandum and Articles of Association the charity has power to make any investment
which the Trustees think fit.
Plans for future periods
We continue to develop and invest in the "London Lighthouse" project which enab￿8 a number of
students to become involved in external mission activities in return for a redU￿d rent.
The Trustees continue lo monitor b¢Xh UK immigration policy, which has signfficant implications for
the recruitment of new Community members. and the London student accommodation market, wth
vw lo ensuring that the charity meets ils mission81 obieetives.
Structure. govemance and management
Appointment of Trustees
There has been a significant change in the composition of the Board of Trustees, with the resignation
of a number of bng-stsnding members and a number of new appointments.
Trustee Inductlon and tralnlng
New trustees are encouraged lo spend time wth the chaim)an of the 8oard, who will guide them
through the induction process which include5 visits lo the operational ¢harrf(ies and lime with their
senior management teams.
Organlsatlon
The Board of Trustees administers the charity and sets up Su￿e0mMitteeS and working groups as
necessary. The Iruslees have delegated the day-ID-day management of the operations to the Director
and the senior management18am.
Grant Maklng Pollcy
The Trustees v￿W OUT bursary scheme as important in ensuring that wherever possible all those who
seek to benefit from our mission who would otherwise not be able to afford the fees are supported. In
2025 we gave grants and bursaries amounting to £100,50912024 - £63,996).
Page 2

Lee Abbey International Students Club
Trustees. Report
Governance and Intsrnal Control
Careful considgratbon continued to be given to risk management. Risks are calegorised according lo
potential severity and their likely incidence. The levels of risks are regularly reviewed and procedures
lo mitigate those risks are set in place. In addrtion to ils continued oversight of health and safgty
matters, the Board also regulady monitors safeguarding policy and procedures Ibolh for young people
and for vulnerable adults} in all aspects of ils charitable activities. The Board has instructed external
audttors lo assist il with such oveT5ight and monitorin9.
Prof A A Pepper, (Chairl
Revd P A Van Rossum (resigned 6 December 20241
C W Saxby
E C Holland (resigned 19 September 20241
Revd C8non Dr G R Cappleman
Revd Canon A O Ladipo I￿Signed 19 September 20241
F E Nouri (resigned 6 January 2025}
D Morton. lappoinled 6 December 20241
Revd Preb'd J Rust (appointed 21 March 20251
L E Brace lappoinled 21 March 2025)
A V Fianasinghe (appointed 21 March 2025)
M A A Akinlade lappoinled 21 March 20251
Trustees:
Secretary:
CLC Secretsrial Seryices Limited
Page 3

Lee Abbey International Students Club
Trustees. Report
Charty Reglstratlon Nurriljor
2J2667
Company Reglstratlon Number 00764727
RogistsTgd Offico
Lee Abbey
Lynlon
Devon
EX35 6JJ
Audltor
Weslcotts ISWI LLP
47 Boutport Street
Bamslaple
Devon
EX311SQ
Carter Lemon Camerons
3rd Floor, 20 King Street
London
EC2V 8EG
Solicitors:
Statement of trustee8' responslblllties
The trustees Iwho are also the directors of Lee Abbey Internalw)nal Students Club for the purposes of
company lawl are responsible for preparing the trustees, report and the financial statements in
accordan￿ with applicable law and United Kingdom Accounting Standards (Unfted Kingdom
Generally Accepted Accounting Practice}. including FRS 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland" The report and accounts have been prepared in
accordance with the provisions in the Companies Act 2006 ￿lating to small cornpanies.
Company law requires the Iruslees lo prepare financial ststements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the slate of affairs of the chaiilable company and of the incoming
resources and application of resources, including rts income and expenditure, of the chanlable
company for that period. In preparing these financial statements. the trustees are required to."
select suitable accDunling policies and app￿ them consislently.
observe the method5 and principles in the Charities SORP.,
make judgements and estimates that are reasonablo and prudent-,
stale whether applicable accounting standards, Gomprising FRS 102 have been followed, subject
lo any material departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going contsm basis unless il is inappropriate to presume
that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting ￿CordS that can disck)se wth reasonable
accuracy al any time the financial position of the ¢haritsble company 8nd enable them to ensure that
the financial statement5 comply with the Companyès Act 2006. They are also ￿sponsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for Ihg
prevention and detection of fraud and other irregularities.
The trustees are rosponsible for Ihe mairllenance and integrty of the corporate and financial
information included on the charrtable companys wgbsi18. Legislation governing the preparation and
dissemination of financial statements may drffer from legislation in other jurisdictions.
Page 4

Lee Abbey International Students Club
Trustees, Report
Disclosure of information to audltor
Each trustee has taken steps that they ought to have taken as 8 trustee in order to make themselves
aware of any relevant audrt information and lo establish that the charity's auditor is aware of that
information. The Iruslees confirm that there 15 no relevant infomiatvjn that they know of and of which
they know the auditor is unaware.
Small companles provlslon stalemont
This report has been prepared in aeeordance vAth the small companies regime under the Companie$
Aet 2006.
The annual report was approved by the trustees of the charity onsIIi.12S... and signed on rts
behalf b￿.
ProfA A Pepper
Trustee
Page 5

Lee Abbey International Students Club
Independent Auditorfs Report to the Members of Lee Abbey International
Students Club
Opinion
We have audited the financial stslerr*nts of Lee Abbey Intemalional Students Club Ith8 'charity'l for
the year ended 30 April 2025, which comprise the Statement of Financial ActNities, Balance Sheet,
Statement of Cash Flows, and Notes to the Financial Slalemenls, including a summary of signTficant
accounting policies. The financial reporting framework that has been applied in their preparation is
Unf(ed Kingdom Aecounling Standards. comprising Charths SORP - FRS 102 'The Financial
Reporting Standard 8pplieable in the UK and Republic of Ireland, and applicable law (United Kingdom
Generally Accepted Accoullling Practice).
In oui opinion the financial stslemenls..
gNe a true and fair view of the stste of the charity's affairs as al 30 April 2025 and of rts incoming
resources and application of resources, including ils income and expenditure, for the year then
ended..
have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting
Prdctice,. and
have been prepared in accordance wth the requirgments of the Companies Act 2006.
Basis for opinion
We conducted our audi( in accordance with Intemational Standards on Auditing (UK) (ISAS IUKI} and
8pplicable law. Our responsibilities under Ih05e standards are further described in the auditor
responsibilf(ies for the audrt of the financial statements section of our report. We are independent ol
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small
entities, in the circumstances sel out in note lo the financial slalemenls, and we have fuKilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained 15 sufficient and appropriats lo provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the fin8ncial statements, we have concluded that the trustees use of the going concem
basis of aceounting in the preparation of the financk41 slalemenls is appropriate.
Based on the work we have performed. we have not identfied any material uncertaintigs relating to
events or conditions that, Individual￿ or collectively, may cast signrficanl doubl on the charity's ability
lo Continue as a going eoncern for a period of at kgast ￿1ve months from when the original financial
$tstemenls were authorised for issue.
Our responsibilities and the responsibilities of the ITUStees with respect to going concem are
described in the relevant sections of this report.
Other inforniatlon
The trustees are responsible for the other infomialion. The other infomiation comprises the
information included in the annual report, other than the financial statements and our auditorfs report
Ihereon. Our opinion on the financial 5tstements does not cover the olhgr information and, except lo
the extent olhenNi5e explicitly stated in our report, We do not eXp￿sS any form of assurance
conclusion thereon.
Page 6

Lee Abbey International Students Club
Independent Auditor's Report to the Members of Lee Abbey Intornatlonal
Students Club
In connection with our audit of the financial slalements, our responsibility is to read the glher
infomialion and. in doing so, consider whether the other information is matenalty incon51Stenl with the
financial statements or our knowledge obtsined in the audit or otheNise appears lo be materially
misstsled. If we Mdentify such material inconsistencies or apparent material misstatements. we are
required to delemiine whether there is a material misstatement in the financial statements or
material misstatement of the other information. If. based on the work we have perfomed, we condude
that there is a materBI misstatement of this other information, we are fequired lo report that fact.
We have nothing to report in this regard.
Opinion on other matter proscrlbgd by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audrt..
the infomalion given in the Trustees. Report for the financial year for which the financial
statements are prepared is consistent with the financial statements,. and
the Trustees. Report has been prepared in a￿OrdanCe with applicablelogal rgquirements.
Matters on which we are required to report by exceptlon
In the light of our knowledge and understanding of the charity and its environment obtained in the
course of the audit, we have not idents'fied material misslalements in the Trustees. Report.
We have nothing to report in respect of the folkiwing matters where the Companies Act 2006 requires
us lo report to you rf, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us.. or
the finan￿81 statements are not in agreement with the accounting records and returns.. or
certain disclosures of trustees remuneration specffied by law are not made", or
we have not received all the information and explanations we require for our audit.
Responslbllltles of trustses
As explaine(I more fully in the Slalemenl of trustees, responsibilities {set out on pago 41, the trustees
are responsible for th8 preparation of the financial ststements and for being satisfied that they gNe a
true and fair viow, and ft)r such intemal control as the trustees determine is necessary lo enable the
preparation of financial statements that are free from material misststement. whether due to fraud or
error.
In preparing the financial statements. the trustees aro responsible for assessing the charty's ability to
continue as a going concern. disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the Iruslees erther intend to liquidate the charty or to cease
operations, or have no realistic alternative but lo do so.
Auditor responsibilities for tho audit of the financial statements
Our objeclNes are lo obtain reasonable assurance about whether the financial 5talemenls as a whole
are free from material mis51atemenl, whether due lo fraud or emr, and lo issue an auditorfs ￿port
that includes our opinion. Reasonab￿ assurance is a high level of assurance, bul is not a guarantee
that an audit conducted in accordance wf(h ISAS (UK) will always delect a material misstatement
when it exists. Misststements can arise from fraud or error and are considered material rf, individually
or in the aggregate, they could reasonably be expected to influence the e¢onomic decis4)ns of users
taken on the basis of these financial statements.
Page 7

Lee Abbey International Students Club
Independent Audltovs Report to the Members of Lee Abbey International
Students Club
Irregularities, including fraud, are instances of non-compliance wrth laws and re9ulalions. We design
procedures in line wth our responsibiif(ies, otjllined above. lo delect material misslalements in respect
of irregularities, induding fraud. The extent lo which our procedures are capable of detecting
Ir￿guIarl1ies, including fraud is detailed below".
We identified areas of laws and regulations that Could reasonabty be expgcted to have a material
effect on the financial statements from our general commercial and sector experience and through
discussion wrth the trustees and other management. We Communi￿ted identified laws and
regulation8 throughout OLbr team. and remained alert lo any indications of non.compliance
throughout the audit.
The charity is subject to laws and regulations that govem the preparation of the financial
statements, including financial reporting legislalion, and other companies legislatM)n. The company
is also subject lo other laws and regulations where the consequences of
non-compliance could have a matorial impact on the amounts or disclosure8 Wrthin the finaneial
51atemenls. including employment, anti-bribery. anti-money laundering and certain aspects of
companies legislation.
ing lo the inherent limitations of an audit. tITere is an unavoidable risk that we may nol have
detected some material mi5Statemenls in the financial slatemenls, even though we have properly
planned and performed our audit in accordance wf(h auditlng standards. In any audit, there
remains a higher risk of non4election of irregularl(ies, as these may involve collusion, forgery,
intentional omissions, misrepresentations, or the ov&ride of internal Controls. We are not
responsible for preventing non-compliance and cannot be expected to detect non-complian￿ wf(h
all laws and regulations.
As part of an audit in accordance wth ISAS (UK), we exercise professional judgement and maintain
professional sceplicism throughout the audr(. We also.
Identty and assess the risk$ of malenal misststement of the financial statements, whether due to
fraud or error, design and perform audf( procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for on& resutting from error,
as fraud rnay involve collusion, forgery. intentional omissions, misrepresenlalions, or the overrKle
of inlemal control.
Obtain an understanding of internal control relevant to the audi( in order to design audit procedures
that are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the
effèctiveness of the charity's internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounts'ng
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees use of the going concem basis of accounting and,
based on the audrt eviden￿ obtained, whether a material uncertainty exists related lo events or
ndrtions that may c8sI signrficanl doubl on the charity's ability to continue as a going concern. 11
we conclude that a material uncertainty exists, we are required to draw attention in our audilorfs
report to the related disclosures in the financial slalemenls or, if such disclosu￿S are inadequate,
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of
our auditor's report. However, future events 01 conditions may cause the charity to cease lo
cOntin￿e as a going concern.
Evaluate the overall presentation. structure and content of the financial statements, including the
disdosures, and whether the financial slalements represent the underlying transactions and
events in a manner that aCh￿ve$ fair presentation.
Page 8

Lee Abbey International Students Club
Independent Auditor's Report to the Members of Lee Abbey Intematlonal
Students Club
We communicate with those charged with govemance regarding, among other matters, the planned
$cope and liming of the audit and significant audit findings, including any signrficant deficiencies in
internal control that we idents.fy during our audit.
Use of our r&port
This report is made solely to the charitable company's INstees, as a body, in accordan￿ with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might slate lo the charrty's trusleg$ those matter5 we are required to state lo them in an audrftor's
report and for no other purpose. To the fullest 8xt8nl permitted by law, we do not accept or assume
iesponsibilty to anyone other than the charrtable company and ils trustees as a body. for our audit
work, for this report, or for the opinions we have fomied.
Calh8rine Williams FCA DChA (Senior Statutory Audilorl
For and on behaw of
Weslcotts ISWI LLP, Statutory Auditor
47 Boutport Street
Bamslaple
Devon
EX31 1SQ
Page 9

Loe Abbey International Students Club
Statement of Financial Activities for the Year Ended 30 Aprll 2025
(Including Income and Expenditure Account and Statement of Total
Recognlsed Gains and Losses}
Unrgstrfdgd
funds
Restricted
funds
Total
2025
Total
2024
Note
Income ind Endowments from:
Donations and legacies
Charf(able activities
Other trading activities
Investment income
73,891
74,540
2,469,296
54,275
2.392.607
8,934
12,954
2.469,296
18.764
18,764
Total income
2,488,709
73,891
2,562,600
2,468.770
Expendlture on:
Charitable actwi(ies
12.546,2871
1151,043}
12,697.3301
12,272,284)
Total expgndilure
12.546,2871
1151,043)
12,697.3301
12,272,284}
Net (expenditurellincome
{57.5781
177,152)
1134.7301
196486
Net movement in funds
{57.5781
177,152)
1134.7301
196,486
Reconciliation of funds
Total funds brought forward
Total funds carried forward 18
4,109.049
77,152
4.186,201
3,989.715
4.051.471
4.051,471
4,186.201
All of the charity's actwities derwe from continuing operations during the above periods.
The funds breakdown for 2024 is shown in note 18.
The notes on pages 13 10 24 forn an integral part of these financial slalemenls_
Page 10

Lee Abbey International Students Club
(Registration number: 00764727)
Balance Sheet as at 30 April 2025
2025
2024
Note
Fixed assets
Tangible assets
12
5.310,887
5,373,528
Current assets
Debtors
Cash at bank and in hand
13
14
110,256
446,243
556,499
51,578
708.669
760,247
Credltors: Amounts falling due wlthln one year
15
(1,076,348
1947,8101
Net current liabilitigs
1519,849)
1187,563)
Total assets less eurrènt liabllltles
4.791,038
5,185.965
crgdltors: Amounts falling duè after more than ong year 16
739,567
1999,764
4.186,201
Net assets
4,051,471
Funds of the charlty:
Restrlcted income funds
Restricted funds
77,152
Unrestrictsd Income funds
Unrestricted funds
4,OS1.471
4,109,049
Total funds
18
4,051.471
4,186,201
These financial slalemenls have been prepared in accordance with the special provisions relating to
companies subject lo the small comp8nies regime within Part 15 of the Companies Act 2006.
Thg financial statements on pages 10 to 24 wer8 approved by the trustees, and aulhorised for issue
onslIZI2S.. and signed on their beha￿ by:
ProfA A Pepper
Trustee
The notes on pages 13 to 24 fomi an integral part of these financial stalemenls.
Pag& 11

Lee Abbey International Students Club
Statement of Cash Flows for the Year Ended 30 April 2025
202S
2024
Nolo
Cash flows from opgrating a¢tlvilles
Nel cash lexpenditureifincome
{134.7301
196,486
Adjustments to cash floY45 from non-cash items
Dep￿Ciall0n
Investment income
301,872
118,764}
148,378
286.461
{12.9541
469,993
Worklng capital adjustments
{Increaselldecrease in debtors
Dgcreaso in creditors
13
15
{58,6781
1131,6591
25,452
1154,042}
Nel cash flows from operatin9 adivrties
Cash flows from Invgstlng actlvltlgs
Interest re￿1vable and similar income
Purchase of tangible fixed assets
N&1 cash flows frcm investing activrties
Nel Idecrea5elTincrea5e in cash and cash equivalents
Cash and cash equivalents at 1 May
{41,9591
341,403
18,764
1239,2311
12,954
{232,7421
12
220,467
{219,788
1262,4261
708,669
121,615
587,054
Cash and cash eqU￿a￿nIS a130 April
446,243
708,669
All of the cash flows are derived from eonlinuing operations during the above hvo periods.
The notes on pages 13 to 24 fom an integral part of these financial statements.
Page 12

Lee Abbey Internatlonal Students Club
Notes to the Financial Statements for the Year Ended 30 April 2025
1 Charity status
The charity is limited by guarantee. incorporated in England and wa￿5. and consequenlty does not
have share capital. Each of the trustees is liable to contribute an amount not exc*eding £1 towards
the assets of the charty in the event of liquidation.
The address of ils registered offiee is..
Lee Abbey
Lynton
Devon
EX35 6JJ
2 Accounting policies
Summary of signrficant accounting policies and key accounting g$timatos
The principal accounting policies applied in the preparation of th¢se financial slalements ar8 sel out
below. These Policies have been consistently applied to all the years presented, unless otherwise
slated.
ststement of compllance
The financial slalements have been prepared in accordanco with A¢￿UntIng and Reporting by
Charities.. Statement of Recommended practi￿ (applicable to charities preparing their aecounls in
accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
10211 (issued in October 20191 {Charities SORP IFRS 10211, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Basis of preparation
Lee Abbey International Students Club meets the definf(ion of a public benefrt entity under FRS 102.
As5els and liabilrties are initially reeognised at historical cost or transaction value unles5 Otherwise
slated in the relevant accounting policy notes. The financial statements have been prepared in sterling
which is the functional currency of the charity.
Going ¢on¢ern
Thè Imstees Consider that there are no material uncertainties about the charity's abilrty lo continue as
a going con￿rn nor any signrficant areas of uncertainly that affect the carr￿ng valije of assets hekj by
the charity.
Judgements and key sources of estimation uncertainty
The p￿paratIon of the financial statements requires management lo make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are continually
reviewed and are based on experience and other factors, including expectations of future events that
a￿ believed to be reasonable under the circumstances.
Income and endowments
All income is recognised once the charity ha5 entitlement to the ineome, it is probable that the income
will be received and the amount of the income re¢eivable can be measured reliably.
Page 13

Lee Abbey International Students Club
Notes to the Financlal Statgments for the Year Ended 30 April 2025
Donatlon5 and legacies
Donations are recognised when the charity has been notrfied in wr"rting of both the amount and
settlement date. In the event that a donation is subject to conditions that require a level of
performance by the charty before the charty is enlrtlgd to the funds, th& income is deferred and not
recognised until either those condrtions are fully met. or the fvlfilmenl of those conditions is wholly
within the control of the charity and i( is probable that these condrtion$ wll be fulfilled in the reporting
period.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expendK(ure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot
be directly attributed lo part￿ular headings they have been allocated on a basis consi518nt wth the
Use of ￿sources. wi(h central staff costs allocated on the basis of time spent, and depreciation
Llicll9es allocated on the portion of the assol's use. Olhgr support costs ar¢ allocated based nn the
spread of staff costs.
Charitable actlvities
Charitable expenditure ￿mpriseS those costs incurred by the charty in the delivery of its activities
and services for ils beneli¢iarie5. It includes both costs that can be allocated directly to such activrties
and thos8 ¢ost5 of an indirect natu￿ necessary lo support them.
Support costs
Support costs include central functions and have been allocated lo activity cost categories on a basis
consistent wf(h the use of resources, for example, allocating property costs by fbor areas, or per
capi(a, stsff costs by the lime spent and other wsls by their usage.
Tangible fixed assets
Tangible assets are Initial￿ recorded at cost. and subsequently slated at cost less any accumulated
depreciation ènd impairment losses. Any tangible 8ssets carried 81 revalued amounts are recorded at
the fair value at the date of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impaimenl losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the slalement of financial activities. A decrease in the Car￿ng
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within other
recognised gains and losses on the statement of financial activities.
Depreclation and amortisation
Depreciation 15 calculated so as to wnte off the eost or valuation of an asset. less rts residual
Value. ov8r the useful economic lrfe of that asset as follows..
DepreC￿tIOn method and rate
10-50 years straight line
4-20 years slraighl line
4 years straight line
Land and Building$
Fixtures and Fiitings
Motor Vehicles
Page 14

Lee Abbey International Students Club
Notes to the Financial Statements for the Year Ended 30 Aprll 2025
Impalrment of flxed assets
A reV￿W for indicators of impairment is Carried out at each reporting date, with the fecoverable
amount being estimated where such indicators exist. Where thè Garrwng value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairmonts are also revi8wod for
possible reversal at eath reporbng dale.
For the purposes of impaiment testing, when li is not possible to estimate the recoverable amount of
an individual asset. an estimate is made ¢f the recoverable amount of the ￿Sh-generatlng unil to
which the asset belongs. The cash-generaling unit is the smallest 1dentffiab￿ group of assets that
includes the asset and genefates cash inflows that largety independent of the cash inflows from other
assets or groups of assets.
For impaimient testing of goo0￿111, the gc￿lI1 acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefrt from the
synergies of the combination. irrespective of whether other assets or ts'abililies of the chanty are
assigned to those unit5.
stock
Stock is valued at the lower of cost and nel realisable value.
Cash and ¢a$h gquivalents
Cash and cash equiwalents comprise cash on hahd and call deposits, and other short-temi highly
IH]uid investments that are readify convertible to a known amount of cash and are subj-ect to an
insignrficant risk of thange in value.
Fund strudure
Unrestricted incom¢ fund5 are general funds that are available for use at the Iwstees discretion in
furtheranc& of the objectives of the charity.
Designated funds a￿ unre8lricted funds set aside for specific purposes al the discretion of the
trustees.
Reslrieted income funds a￿ those donated for use in a particular area or for specific purposes. the
use of which 1$ re¥lricied to that area or purp08e.
P8nsions and other post retirement obllgations
The Charity operates a defined contribution pension Scheme which is a pension plan under which
fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation
to pay further contributions even if the fund does not hold sufficient assets to pay all employees the
benefits relating to empk)yee service in the current and prior period8.
Contributions lo defined contribution plans are recognised in the Stslement of Financial Activities
when they are due. If contTibution payments exceed the ￿ntrIbutiOn due for service, the excess is
recognised as a prepayrnent.
Page 15

Lea Abbey International Students Club
Notss to the Financial Statements for the Year Ended 30 April 2025
Financial instruments
ClassifKation
Financial assets and financial liabilities are recognised when the Charity becomes a party to th8
contractual provisions of the instrument.
Financial liabilities and equrty instruments are classified according to the substance of the eonlraclual
arrangements entered into. An equty instrument is any contract that evidences a residual interest in
the assets of the charty after deduebng all of its liabilities.
Recognftlon and measurement
All financi81 assets and liabilities are initially measured al transaciion price {including transaction
coslsl. except for those financial assets classified as at fair value through profft or loss. which are
inl(ially measured at fair value {which is normally the transaction price excluding transaction coslsl,
unless the arrangement constrfules a financing transaction. If an arrangement constitutes a financing
trons3Gtion. tho financial a55el or financial liability I￿ measured at the present value of the future
payments discounted at a market rale of intergst for a similar debt inslrumenl.
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable r￿ht lo set off the recognised amounts and the charty intends
either to settle on a net basis, or lo realise the asset and settle the liabilty simultaneously.
Financial assets are derecognised when and onty when a} the contractual rights lo the cash flows
from the fin8n¢ial asset expire or are settled, bl the charity transfers lo another party substantially all
of the risks and rewards of ownership of the financial asset, or cl the charty, despite having retained
some, but not all, significant risks and rewards of ownership, has IransferT8d corbtrol of the asset lo
another party.
Financial liabilrties are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.
3 Income from donations and legacies
Unrestricted
funds
Restricted
funds
Total
2025
Donations
73,891
74.540
Unrestrlcted
funds
Restricted
funds
Total
2024
Donations
1,575
52,700
54,275
Page 16

Le• Abbey International Students Club
Notes to the Financial Statements for the Year Ended 30 April 2025
4 Income from charitsbla activiti05
Total
2025
Total
2024
Guest fees
Room hire
Resident fees and income from running hostel
Sundry income
511,654
541,644
285
1,839,443
11,235
2,392,607
1,944.919
12.723
2,469,296
All income received from charitable ath'mties in 2025 and 2024 was unreslTiCted.
5 Income from other tradlng acllvltle9
Total
2025
Totsl
2024
Flat rental incomg
8,934
All income received from other trading activities in 2024 was unrestricted.
6 Investmgnt Income
Total
2025
Total
2024
Bank interest receivablg
18,764
12,954
All income received from inv￿lMent in￿rne in 2025 and 2024 was unreStr￿1ed.
Page 17

Leo Abbey International Students Club
Notes to the Financial Statements for the Year Endod 30 April 2025
7 exponditurn on charltsble actNities
Designated
funds
Unrestricted
funds
Restricted
funds
Total
2025
Note
The management
of the hostel and
community
Grants and
scholarships
AIIoc8ted support
osts
153,470
2.036,513
151.043
2,341,026
100,509
100.509
255,79S
2S5.795
153,470
2,392.817
151,043
2,697.330
Designated
fund8
Llnrestrlcted
funds
Regtricted
funds
Total
2024
Note
The management
of the hostel and
communrty
Grants and
seholarships
Allocated support
osts
141.404
1,799.257
52,682
1,993.343
63,996
63,996
214,945
214,945
141,404
2.078,198
52,682
2.272,284
Analysis of support eosts
Support costs allocated to charitable actlvltles
Totsl
2025
Tolal
2024
Bank charges
Bank Inte￿$1 payable
Insuran
Telephone and fax
Other expenses
Contribution to Lee Abbey Movement
Travel expenses
Audit fees
Legal and professional fees
390
71,087
31,048
7,493
44,790
41,072
2,313
9.693
47.909
553
75,993
53,069
12,941
12,884
41,000
747
13,618
4,140
255,795
214,945
Page18

Lee Abbey Intemational Students Club
Notes to the Financial Statements for the Year Ended 30 April 2025
9 Net Incomlngloutgolng resou￿oS
Nel loutgoingllincoming resources for the year indude:
2025
2024
Depreciation of fixed assets
301,872
286.460
10 Trustees remuneration and expenses
No Iruslees, nor any persons connected ￿th them. have received any remuneration from the ehartty
during the year.
No trustees have reGeived any reimbursed expenses from the charity during the year_
11 Stsff costs
The lolal stsff costs and benefrts for the reporting period are analysed a5 follows..
2025
2024
Wages, saL8ries and community allowances
Soci81 security costs
Employer contributions lo pension plans
other staff costs
285.089
13.418
25,378
40.000
212,090
23,292
19,471
363,885
254,853
Other staff costs relate to redundancy payments incurred during the year.
The averagg head count during the year was 25 12024.. 251. The average rtumber of full-time
eqU￿a￿nIS during the year is analysed as folbws..
2025
No
20
2024
No
20
Running of hostel
Management and administration
25
25
No employee received emoluments of more than £60,000 during the year.12024-. Nil}
Page 19

Leo Abbey Intemational Students Club
Notes to the Financial Statements for the Year Ended 30 April 2025
12 Tanglble fixed assets
Furniture
and
equlpment
Land and
bullding$
Totsl
Cost
At 1 May 2024
Addrtions
8.416,970
196,644
2.007,561 10,424,531
42,587
239,231
At 30 April 2025
Depreclatlon
At 1 May 2024
Charge for the year
At 30 April 2025
Net book valuo
8,613,614
2,050,148 10,663,762
3.510,280
153,469
1,540,743 5,051,003
148,403
301,872
3,663,729
1,689,148 5,352,875
At 30 April 2025
4,949,885
361,002 5,310,887
At 30 April 2024
4,906,710
466,818 5,373,528
These are included al cost except for the freehold property which is included al its 1989 valuation plus
additions lo 31 August 1994. The 1989 valuation was made at an open market value based on a
continuing existing use. The Trustee5 have chosen not lo adopt a policy of staling freehold propety at
current valuation and are maintsining them under the transitional provisions of FRS 15.
Depr8cialion is not charged on freehold land. F￿ehOld land and buildings includes £1.300.000 ot
f￿eh0&j land.
The original cost of the building5 wa5 £2,326.713.
The frgehold land and building5 are used as part of sgcurtfy for a loan for Lee Abbey Movement.
13 Debtors
2025
2024
Trade debtors
Prepayments
VAT recoverable
Other debtors
58,655
31,939
4,910
14,752
39,578
12.000
110,256
51,578
Page 20

Leo Abbey International Students Club
Notes to the Financial Statements for the Yoar Ended 30 April 2025
14 Cash and cash equivalents
2025
2024
Cash at bank
446.243
708,669
IS Credltors: amounts falling due within one year
2025
2024
Trade C￿(1$tO15
Amounts received on account
Amount owed to group undertakings
other taxation and soeial security
Other credf(ors
Accruals
248,926
272.957
235,348
148,798
270,201
194,965
3,684
296,862
33,300
303,117
16,000
1,076,348
947,810
16 Credltors: amounts falling due after one year
2025
2024
Due to group undertakings
739.567
999,764
17 Ponsion and other schemes
Deflned contribution pension Scheme
The eharity operates a defined contribution pension scheme. The pension cost charge for the year
represents contributions payable by the charty to the scheme and amounted to £25,378 12024
£19,471).
Page 21

Lee Abbey International Students Club
Notes to the FinanGial Statements for the Year Ended 30 April 2025
18 Funds
Balance at
1M8y
2024
Balance at
30 April
2025
Incoming ResoU￿e$
resources
expended
Transfers
UnTeslrfcted funds
General Funds
Fixed asset reserve
11,264,479) 2.488,709 12,244,415)
1,659,655
1148,402)
395.176
2,488,709 12.392,817}
1239,2311 11,259,416)
1133.9091
1,377,344
(373.1401
117,928
Designètsd
Designated Property
resetve
3,713,873
1153.4701
373,140
3,933,543
Totsl unrestrlcted funds
4,109,049
2,488,709 12.546,2871
4.051,471
Restrlctod funds
Building the Future Fund
Bursary Fund
77.152
181
73,710
73,891
177,3331
173,7101
1151,0431
77,152
Total funds
4,186,201
2,562,600 {2,697,3301
4,051,471
Balance at
1May
2023
Balancè at
30 April
2024
Incoming Resources
resources
expended
Transfers
Unrestricted funds
General Funds
Fixed asset reserve
11,504,452) 2,416,070 (1,933,142)
1,908,799
1145,056)
404,347
12.078,198)
(242,955) {1.264,4791
(104,088)
1,659,655
{347,043)
2,416.070
395,176
Designatgd
Designated Propety
reserve
3.508,234
1141.4041
347,043
3,713,873
Total unrestricted funds
3,912,581
2,416.070 12,219,602)
4,109,049
Restrlcted funds
Building the FlrtU￿ Fund
Bursary Fund
76,252
882
900
51,800
77.152
52,6821
152,6821
77,134
52,700
77,152
Total funds
3,989,715
2,468,770 12,272,284)
4,186,201
Pagg 22

Lee Abbey International Students Club
Notes to the Financial Statements for the Year Ended 30 Aprll 2025
The Fixed Asset Reserve was established in 1989 when the freehold property was last revalued. The
Designated Property Reserve was established to sel asidg funds for future investment in the freehold
property.
Restricted fijnds
The Building the Future Fund, which was estsblished for donations towafds future improvement lo the
freehold propety, was fulty utilised during the year.
The Bursary Fund 15 for amounts donated to support students with the cost of stawng at the charity
19 Analysis of net assets between funds
Unrestrlcted
funds
General
Total funds
at 30 Aprll
2025
Tangible fixed assets
Current assets
Current liabilities
Creditors ovar 1 year
5,310,887
556,499
(1,076,348)
{739,567}
4,051,471
5,310.887
556,499
11.076,3481
1739,5671
Totsl net assets
4,051,471
Unrestricted
funds
Gengral
Total funds
at 30 Aprll
2024
Restricted
funds
Tangible fsxed assets
Current assets
Current liabilrties
Creditors over 1 year
Total nel assets
5,373.528
683,095
1947.8101
1999.7841
4,IOS,049
5.373,528
760,247
1947,8101
1999,7641
4,186,201
77.152
77.152
20 Rglatod party transactions
The charity is part of a group known as The Lee Abbey Movement and has transactions with other
group members. These comprise:
Payments lo Lee Abbey Movement of £41.00012024.' £41,000).
At 30 April 2025 £973,16612024'. £1.192,8371 was ¢)wed lo The Lee Abbey Movement.
Inteiest Of £69,33912024-. £74,101) has been charged on the loan al nomial wmmercial temis.
Page 23

Le• Abb•y International Students Club
Notes to the Financlal Ststements for the Year Ended 30 April 2025
21 Controlling party
The holding company is The Lee Abbey Movement which ig the sole guarantor of this company.
The liability of the guarantor is limiied to £1.
Consol*Jated accounts are available on request from the registered office.
Page 24

Lee Abbey International Students Club
Detailed Statement of Financial Activities for the Year Ended 30 April 2025
Total
2025
Total
2024
Donatlons and legacies
Donations and legacies
74,540
74.540
54.275
54,275
Charitable actlvltles
Guest fees
Room hire
Resident fees and income from running hostel
Sundry income
511,654
541,644
285
1,839,443
11,235
2,392,607
1.944,919
12,723
2,469.296
Other trading activitigs
Flat rental
8,934
8.934
Investment Income
Bank interest feceivable
18,764
12,954
18,764
12,954
Charitable activltles
Grants
Credit card charges
Communty allowances
Uniforms
Club and w¢ial expenses
Communty, pastoral and mission elc
Rates
Light. heat and power
General maintenance
Household expenses
Catering
Food and kitchen svndries
Residents telephone and intemet
Sundry expenses
Advertising
Depreciation of tangible fixed assets
Bank charges
Bank interest payable
Insurance
Telephone and fax
{100,5091
15,844)
169,069)
13.7671
12.7591
{45,9881
{58,3641
{121.6631
1398,3031
1273,3491
1299,0831
1325,2261
124,7871
12411
146,8261
{301,8721
{3901
171,087)
{31.0481
17.493}
163,996)
{5,557)
{141,958)
12.2991
13,7591
127,2031
156,2271
199,031)
1217,250}
1254,261)
1293,232)
1291.1521
125,198)
124)
134,879)
{286,460)
15531
175,9931
153,0691
112,941}
This page does not fomi part of the statutory finanaal slalements.
Page 25

Loe Abbey Intsrnational Students Club
Detailed Statement of Financial Activities for the Year Ended 30 Aprll 2025
Total
2025
TotAI
2024
Office expenses
Contribution to Lee Abbey Movement
Tr8vel expenses
Audit fees
Legal and professional fees
Staff costs
144,790)
141,0721
12,3131
19.6931
(47.9091
1363.8851
12,697,330)
{12,8841
141.0001
17471
113,618)
{4,1401
1254,853)
{2.272,2841
This page does not fomi part of the statutory financial statements.
Page 26