REPORT OF THE TRUSTEES AND FINANCfAL sfATEMEIITS FOR THE YEAR ENDED 31 AVGUST 2023 FOR The TRIISTEes OF ST ALIGusfINE'S ABBEY RAMSGATE Charlty no: 245415
THE TRUSTEES OF sr AUGUSTINE'S AOBEY RAMSGATE CONTENTS OF THE FINANAL STATEMENTS for the Year End•d 31 August 2015 Paoe L¢gal admlnlstratlve infomiatloft R•port of th• statement of finandal •¢tlvlll Slatem•nt of fiTrgndol pogltlon Notss to the PIMnel•l Statem•nts Incoma and Expondlture Account 17 Independ•nt Audllorf• Raport 19
THE TRUSTEES OF ST AUGufflNfs ABBEY RAMSGATE LEGAL AND ADMINISTRATIVE INVORPIATJON for th¢ Year Ended 31 AUllt 2025 status The Trtsstèes of St Augusisne's Abbey are constytuted Ultder a Trust Deed datsd 20 July 1927 are reglstered chadty number 245415. rrusteis The trustees In office durlng the and at the date of thls report., P Greenwood D Keauffllng The Monasdc Chapter Bursar D K¢aufflln9 R•glstsred Qffi¢o St Augustlne's Abbey Sample Oak Lang CHILWORTH GU4 BQR Soll¢ltor$ Stone Klng Llpper Borough Court (UBC) Upper Bomugh Court BAI IRG Auditors Mccabe Ford Wllllams Charfton House Dour Street Dover Kent CT16 IBL Aeeountants Hllary Ad8m5 Ltd Charte Accountants 158 Hlgh stet Hernè Bay Kent cr6 5NP Iwestment Advl•orn CCLA COIF Charlty Funds l Angel Lane London EC4R 3AB Page I
THe TRVSTEES OF sr AuGumNE'S ABBEY RAMSGATE RÈPORT OP THE TRUSTEES for the Y¢ar Ended 31.AugUrt 202$ The Trustees present thdr report along wlth the finandal statemeTrts ol the chjdty for the year ended 31 August 2025. The flnandal ststements have been prepared on the accwntyrbg polld¢% set out In note I to the financlal statements and comply with the chadty's con5tltrJUon, applicabk law and the requlrements of the Sfdtement of Recommended Pra¢ty. "Accoundn9 and Repon9 by Chadties", Flnanclal RertIj Stsndard 102 Yhe Flnanclal RqyothThJ StaNFaTd appllcable In the UK Ind ReplIC of Ireland., effe£Nve 1st )aDUary 2019. Constltutlon •nd obJ¢¢ts St Augusune's Abbey Ramsgate Is ¥ thaNty constJJted under a Tru4 DeEd dated 20th July 1927 and reglstered by the tharfty Commlsslon un¢kr 245415. The objects of the charfty are.for the advèncement of the Roman Cathollc Falth In Great Brftaln or Ireland and for such charltsble objects connetted with the Roman Cathollc falth as they shall In thelr absolute dlscretlon Irom tlme to tlme thlnk ffit and properf. These objertlvès We carrfed out In accordance wlth the R&e of St Benedltt whèreby monks are Called to Ilve a IlfÈ of Prayer. Work and Study wlthln the Monastk Communlty. It Is a lourtdafjonal tharism of BenedlrtFne Ilfe that prayer, and espedalty pt7yer In communlty, Is the 5011 In whlch all works of the monastery grow. Oh 15th October 2009 the TNstees Issued a pr release announdng thelr decfslon thaL Yhe Benedlthne Monks of St Augustloe's Abbey, Ramsgate, Kent. have voted to vacats the monastery In whlch they have Ilved for 148 years. and to rdocate thÈ Communlty. Thls followed a long process of dlscu5slon and d15cemment, and after iaklng professlonal advlce. The Communlty, Is M longer alAe to meet the Abbey's conslderable rnnnlng and m?Intenance cost5. The mgn4stk communlty, therefo. Ls now acdvely looknng for new property and location better sulted to Its ze and requirements. A Abbey wlll need adequate provislon for a thurch, land for market 9ardènln9. and other dedlcated work areas. We look to promote the endurlng values of Benedlcune monastlclsm and plan to exiend aThJ d10P our exlstlng guest minlstry to offer resldentlal and non-resldentlal host4tallty to groups and Indlviduals. bcth men and women. We also hfjpe to offer structured retwts. educauonal courses and splrftual and Ifttellectval study days. Ther&15 a150 a pres9 need for a praCal, wr-ffiendly Stsvcture In whlch to hwse the Comnwnws large monastlc Ilbrnry. A fiJrther press release was tssued on 31st December 2010 Stsng that the Cornmunlty. hjrfng negouated wlth the Order of Frlars Mlnor, wa5 mon9 to Chllworth In Surrey whwe the OFMS had recenyy ¥Yithdrawn. A refurblshment of the first floor accommtrdatlon was Completed In ethy AoveTnber of 2011 th plans for conversion of the attlc space Into accommodauon occepted by the local plannln9 authth. On 27th November 2011 the Communlty fornlIy moved. The full Ilturgy Is belng condurted In the church and WÈ a Jolned In thls by memr$ of the lay falthful. There are lertures and talks belng conductgj on Holy Scrtpture Spjrftualty. Followlng varlous wuests we have begun to carry out thaplalncy work at convents and schools and the Unlverslty of 5urrey, Addltfonally we offer guest facllltles for both men and women, though there are a limlted number of rooms. Followlng to the Ilm1tatlons caused by lockdown rules durtng the helght of thÈ Covld-19 pandeC many of these actlvlues have now been re-lntroduced. Plans. project managemen¢ and fundr*lng are stlll In the eav stsges for a Iwlldlng where we shall bulld a Ilbrary and gue51 centro, vthlch wlll enhan our guest apostolate. wable us to open thè Ilbrary to the wlder academlc world and offeT the p0sbIty of a moderatsly slzed conference centre. To thls eftd we have completed the process by prepadng space for and movlng our cdkctlon ofsome 30,000 btsok5. We have refurblshed a vault whlch form5 part ofthe basement ofthe mon&twry but ¥thich is neverthde55 aboye ground owlng to the Immedlète topography. Heatyng and alr drculatton Fove been Instslled to keep constsnt temperature and hvm1dlty and we have had five hundre(6 metres of shelylng fitted. Thls temporary Ilbrary may well be useful, once the new Ilbrary Is bullt, as an archlve tsollty. We are also In the process of convertlng another room forarchlve MJterfa15 thls work Is ongolng as we haVeeXpertw¢d sevtral dlfflcumes In prodIng an adequatè d5mats control. Page 2
THE TRusfEES OP ST AUGUSTINE'S ABBEY RAMSGATE RepoRT OF THE TRUSTEES for ihe Year Ended 31 Augu•l 2025 Organlgation The Trustees of St Augustlne's Abbey Rarnsgate Is the corporate tnJst of the Charltyi Incorporated by the Charfty Comm1551on under Part VII Charltles Att 2011. The kndlvldul tharlty tru5Lee5 who make up that corporate IK)dy comprfse the Abt of St Au9UStlne's and suth other m¥rbers ofthe mortrI5Uc communlty as he may appolnt. When the Abbot te$, he Is replaced by another rted by the mtsnastfc cowrnunlty actordlng to the Con5titsJ¥ons of the Svblaco-Casslne9e Congwatlon of the Benedlctlne Ordw. The Trew Abbot wlll become a trustee and appolnt any other trustee5 he sees fft. All trusW we, therefore. fully conversant wlth the alms and obJectlve5 of the tsryanlsaiion. Gr4nt Making Pollcy Owlng to the cOndeble capltal (J¥oy on the rlocaOn Of the Comnwntty the Trt$ felt that the Grant Maklng Po11ry should be revlewed. In the mejnllme we arè maklng small 'ad hoc, donatyons to semlnarians In devdoplng natlorns. We are also glvlng educaJonal sponsorshlp. agaln on an'adhoc. ba51s, varfou5 people in Ghana wlth whorn we come into contact through the Monastery of Kdsto Bua5e In Ghana and through the Trustees of the Ghana Monastery Foundaon. R•sult6 ThÉ net Incomlng resour for the year amounted to £356.469 (2024.. E358.4521 wlth an expendlture of £320,565 (2024.. É278,212). After a(lJusUng for the revaluatlon of Invethents a defidt of £132,275 (2024.. surplus of £396,691) for the year was athJed to the reserve5 gIng a totsl Income and expendlture account to carry forward of £7,924,585 {2024.. £8,056,860). RerVeS Pollty The Trustees negouated th¢ sole of the property of St Peteffs chu Wate-on Sej, In Thanet, on 13th March 2018. Thls lISed £585.000. The Trustee5, after consultètlDn With our Investment mana9Er, reallsed £400.000 from our Investment capltal. Thls, togetherwlth thesum ralsed by the sale ofthe property at Westgate plus cash held In our current account was used tt pay the last Insialment In purchaslng the property at Chllworth from the Ckder of Friars Mlnor. Aso we shall be tomplellrmj the rdurblshlng and remedlal rnalntÈnance to the monastery at Chllvmrth. Addltlonally we rttelve donayons speclncally for a projert whlch Is to bulld a new Ilbrarylgue5t house these donations are refleded separately In accounts. Rlsk M•n#gement Investment Poll¢y Ststem¢nt Inv••tment ObJ•rtlve• The Trustèes assets are Invested to produce the best ftnandal retum wlth an aCptae level of rfsk. rhe Investmentobjectlve 15 to balaTh the Income and capltal retums. The assets 5houkl be Manag at least to malntaln the real capltal value of the portfollo, Iyhltst 9eneratlng a 9JStalnable level of Investment Income to support the tyrrent charitable adsvities. The current Income target Is £120.()0 per annum (a stsrtlng yleld of 4%) and as Such the ovérall Investment objertlve can be quantlfied 05 Inftatlon plus 4% per annum, Rl$k The truste•s rely largely on Investment to fvnd cwrent charltatle aCtItIes. Th? s14blllty of Income Is therefore Important. The key rlsk to the long tem sustalnablllty of the Trust Is Inflatton, the assets should be Invested to mltlgate thls rfsk over the long term. The trustees Undetand that thL% Is Ilkely to mean that the InvestmÈnt wlll be COnntrated In real assets and that the caplial value will fluciu&& The trustees are able to tolerate volatlllty of thè tapltal ye of the pytfollo, as Fony 05 they are able to meet current expenditure from investment IrKome. Page 3
THE TRUSYEES OF ST AvGusfiNE'S ABBEY RAMSGATE REPORT OF THE TRUSTEES lor th• Yèar Ended 31 August 2025 3Rigk (cont) The tmsts are responsible for Idenllfylng and monltoring su]table Inveslment manaw and Investnwt vehlcles for the Trust. A55et allotatlon wlll vary from thL8 tsryety On9 to mBrket movemenLs. Fornial rebalancln9 of the porifdlo asset allotation OCCUTS on an annval ba515, uThle5sthetrustees beve It15 prudent not to dD $0. Untll Aprll 2016 the Investments of the Trustees of St Augus.$ Abbey have been handled by Barday5 Wealth. It was nèver the Intentlon Of the Trustees to have thelr Inveslmenis handled by a large bank but successlon of merger5, takeovers and purchases led to the Investmert managers that 0gInallY dealt wlth these Investments belng owned by Barclays. The Trustees havlng b&n becomlng Increaslng dlssatlsflpjj wlth the perfomiance of aarclays wlth regard to fee Struttures, returns ¢n Inve5trnents and the overall ethkal culture of Barclays Group. It was dded therefore that we must moveto another Investment ManageMt Company. Followlng the help ttnd adv1 of Independent advIso wlth long e¥perkn In the field nlne companles were Sent a 'Requesi ftr Proposal. letter. These Induded, Dolpln, C(IA, CazeDove, Chart&5 Stanley, Heathooé Investment Managementy IftvÈstec. QuIr the0t, RathbonES, and Sarasln Partners. ompanles replled and, followlng examlTrailon of theSr gvbrn15sJons. three were short Ilsted for greatsr scrutlnyi npmety Cazenove, CCLA and Heathood Investment Managllt. Followlng meetln9s wlth all three It became clear that from the rspectIVe ol Incom¥, fee strnCre?d ethlcal Investment polldes CCLA were the most approprlate lor the Tru5tees' needs. Bardays Wealth were therefore Instructed of ihlg and the process of translerrfng shares or sellirng and transknlng monles to CCLA were begun Apdl 2016 and complèted In August 2016. The fvnds were used to purchase Incon Un5ts In the COIF charte$ Eth11 Inve5trnent Fund. On 1st Aprll 2021 we trartsferred our Investm$ from COIF Charlues Ethlcd Investment Fund to CAIF Cathc*llc Investment Fund, becoming founder Inve5tor5 In thls fvnd. Thb was done havlftg assessed the rlsks and because It was felt approprfate that our Investments would be In I1 wlth the teathlng of the Cjtholl Church as dosely p05slble. Ljke the Charities Ethlul Investment FuThl. the Cathojlc Investfft Funé Is run by CCLA and because the funds were moved 'ln housd the Trustees thrred no costs In the transfer. Income Is pald quartedy and Ed of CCLA recommend$ that p[latIVeS ofthe Trustee5 meet wlth hlm and hls stsff a year. The Trustees aTe also contlnulng a revlÈw of thè proFwty portfollo wlth a vlew to ktenufylng Ilabllltles and taklng step5 to convert such llab1lles to assets. Thls has led to the ress of forll$lA9 twns of the rela0Th$hIp between the Trustees of the Roman Cathollc Dlocese of Southwark and Abbey Th15tees wlth regard to vartous Propertles used whlch are o¢¢upled by the DIOan Trustees but owned by the Ab Trustee5. Thls work, begun In 2005, 1$ 5YII In progress. other rtsk5, Includng compllance wlth regulatlons affe¢tirtg bulldlngs. care of the elderly, protecuon of childtsn and vulnerable adults and affettlng the thorttable WQTks of the Monastery, are from tlme to tlme dlscussed wlth our professlonal advlsers ané, where necessary, deolt Mlth In wrliten pollcy documents. How our actlvltiqs dellv•r publ1¢ b•n•fft The objects of the chartty aTe"for the advanment of the Roman Calhdlc F)Ith In Great Brftsln or Ireland attd ftsr such tharltable objects connected wf(h the Roman Cathollc Folth Js they shall In thelr ab5ohJte dlscrevon frorn me to me thlnk fit and propeff. These objertlves are c4rrted tsut In accordan¢e wlth the Rule of St Benedlct whereby monkg are called to Ilve a Ilfe of Prayer, Work and Study wlthln the Monastlc ConNnunlty. It Is a foundational tharosm of Benedlcune Ilfe that prayeT, and especlolty prnyer In communlty, Is the soll In whlch all works ofthe monastery grow. Uwng thls out the monastery become5 a 'foyerf for the Gospel whlch Is Dpen to and drnws In those of the Cathollc falth, those of other falths and those of no falth provldlng splrliual, psychologlcal and emotsonal 5LEPPQrt. Severnl ThkS provlde splritual thcon and counselllngt both onllne and In person. W¢ belleve thLs complles wlth the Charlty Commlssions gulddlnes on provldlThg publlc beneflt. Page 4
THE TRUSTEES OF ST AUGusfINE'S ABBEY RAMSGATE REPORT OF TrtE TRusrees for the Year End•d 31 August 2025 Athlevemènts in dellverfnp our charltsble objects / publlc benat ChaAtable object: "Forthe a0ncement of the Roman CathollcFalth In Gre Brttaln andtrelanLlandforsuch thatable objects connected t the Rom?n Cathollc fvlth as the trustéds of the charty shall In thelrabsoluts dlscretlon fmm tlme to Ume tljlnk fltand proper." Worshlp and pnyer The Abbey contlnues to serye a5 a pljce of dally puL41¢ wor5hlp. wlth Ma55 celebrated every day and the Dlvlne Office prayed Sev? tlmes dally. Members of the public are wmly welcompd to Joln the monks In prayer, advandng the practice and understandlng of the Cathollc fllh. Even though not a padsh, the monastery contlnues to attrart a growlng regular core tsf dally and weekjy WshIpperS as wdl as a SIlfl¢ant number of ad hoc vlsltors. The annual Advent Card Seryke Is also ltne&s to thls wlth the Abbey Churth never busler. We also recelve a growlng Dumber of prayer requests from aavss the orld, sometlmes up to 30 pw we8l glylng people conflden¢e that thelr <on¢ems are belng prnyed for In the heart of a Cathollc mon#stic communlty. Our dally Dlvlne Mercy Hour also attracts a growing number of worshlppers onllnè. Porniatlon and evangellsatlon Throuoh our ¢¢nlderable publlctalks programme. we exOre themes ofrÉllgkJn, culture, a and phllosophv. These talks appeal to J vAde demo9raphlc. wdl bÈyond nornial mon35tery v151tor5. and create Trew OFVOrtunkles for evanaellsati¢n, understanding and dlJlogue. Our ecumenlcal chSt18n medltstlon 9roup Conn¢s ta thrlve. offellwpartldpants a Spa to deepen pray and understandlng acr055 Chrlstlan tra(Ililons. The monastery Invests a great deal of tlmt In growlng Its dlgthl footwffit so 8$ to open up the Benedlcurte charism based on the Rule of St Benedlrt to the general publlc and 15 provlng successlul and our VIsr numbers and vocat50Th enqulrles Increase. Hospltality and r¢now¥l Our monastlc guesthouse Is busler than ever. wth a wlde derwrnphk of guests. Many come for refiectjon, prayer, and renewal In a Cathollc monasuc settlngi expwlwKlng the h05pltallty and rhythm or Benedlctlne Ilfe. Thls otheach dIrecY supports the advanc¢ment of Cathovc falth by wovlthng 3 plKe where falth tan be plored, refreshed, and Ilved. Importantlyi In an almost entyrely secukrworbcf. our monastery malntalns the 1,50D 8enedlcdne monastit traditlon and andent wlsdom whlch the monks .are wlth seekers and dIsrnerS Includlng younger people dlslllusloned wRh the modern world. Vtscatlons pnd communlty Ille We are blessed that our monasuc communlty Is not In dedlne. On the tontrary• Its aveTrge agÉ15 decreasln9 5 younger new monks loln us. Th15 renewal of vo¢aUons ensure5 the contlnued Presen of BenedSctJne V41tness In Brltaln. seCung our charltable purpose for the future. Men dls¢emln9 4 votatFon are offered ho$talIty. guldano, and the OFWJrtunlty to Ilve alongslde us for a tlme, exploring whether God Is calllng them to BenÈdlctlne Ilfe. Horltage and Cwthollc pYes¢nce The Abbey malntslns Its hlstorl¢ thurch and buljdlngs as Ilvln9 places of Catholie worshlp, ènsurfng that thls heAta9e seNes the publ1¢ as a space of falth, beauty. and encounter wlth God. Our nyjnastlc products, IndlIng devouonal Items. extend thls provlde support for the Abbey's tharltsble works, Our products, such as Chllworth Rosary Beads. co* very Ilttle and are $t all over the world to hdp PEopIe. Page 5
THE TRusfEES OF sr AUGUMNE'S ABBEY IIAMSGATE RepoRT OF THE TRUSTEES for the Ypar Ended 31 August 2025 ststom•nt of Tru8ta••' R•sponslbllltl¢¥ The Trustees are respon$ltAe for prep)rtng the Report of the Trusw and the flnaTrdal ststements In accord¢t wlth appllcable law and regtAaUons. Chartty law requlres the Trustees to Prere financlal ststÈments for eath flnandal year, Underthat law the Trustee5 have elected to prepare the ffnandal statements In accordance wlth uned %lng(kbm General Accepted AccountlThg Practl£e (Unlted Klngdom Accounung Stsrhdards appllcable law). Under charlty IBW the Trustees must not apwjve the nnandal statements unle55 they are sailsfle(S that they glve a true and falr v5ew ol the state of affatrs of the Abbey and of the surplus OT del ol the Abbey for that pknd. In preparlng these flnanclal statements, the Trustees ère requlred to; select surtable accounyng polldes and then apply them nsIstentIyj make Judgernalts and accountln9 estlmates that are reasonable and prUdt,. prèpare the financlal ststements on the gTr9 concwn ba5 unless is Inappropmate to wesume that the Abbey wlll convnue. The Trustees are responslble for keeplng adequats a(£ountlng records th ¥ suffidEntto and explaln the Abbey's transactlons and dlsclose wlth reasonable accuracy at any rr the finaTrtial p)sltSon of the Abbey and enablè them to ensure that the flnandal statements comply vth the thadtles Art, Thèy are also responslblè f¢r safeouardlng the a$5ets of the Abbey and hence for taklrfj reasonable 5tep$ forthe kY¥ventlon and detectlon of fraud and other Irregularles. STATEMENT AS TO DISCLOSURE OP INFORMATION TO AUDITQRS So fir as the Tmstees are aware, theFe Is no rdevant Inforrnatlon of vthkh the Abbey's audltors are unaware, and each Trustee has tsken all the stsps that they ought to have taken as a Trustees In order to rnake themselves aware of any relevant Infom)aknon and to establlsh that tt Al*ey's audltOTS are aware of that Inlom)atlon. Audltw8 Mccabe Ford Wllllaws werB appoknted as authtors In the prou9 year. Approved by the trustees and slgned on thelr behalf by D KeauMlj - Trustee Dats.. Page 6
THE TRUSTEES OF ST AUGusfiNE'S ABBEY RAMSGATE srATEMEMT OIT FIIIANCIAL ACTIVMES (Includlng Incorne and Expendlture Aceount) for the Ye•r Ertded 31 Au9USt 2025 Toi•l Vund5 2015 Totsl Funds 2024 Funds 2025 Funts 2025 In¢ryNlng re8ourt•8: VduThtary hKome'. Donations & grants 59015 59A115 70,538 AnnUleS & n$)n9 48.043 138,919 stlpends 879 6.879 3,019 Inve5trnenl IrKty) 116,OOY 116,007 115,299 Other thc ActIeS for generatlng luTK1s: 59,118 S•nctuary ldeficltllsuruS Incomlrto t•AOUTces from eharltsble •¢tlvltte& 1125 16.125 9,160 Rental Income 50A82 21,517 T•tèl Inctsmlng r•60ur¢• R•¥r¢g8 •xpended 928 ak?rltabl¢ 4¢Uvltl46 319.057 320.585 278.212 Total resources expanded srATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES Net In<omlnq r¢&oure•s b•forn other recogn189d galns (net Incom• for th• y••r) Oiher r•tOgnls•d 941rts G)InVlkJs5esl on revaluatlon of J5 3$84 ,240 Investments {168,159) IIW159) 316,451 Net movem¢Di In fvnds (132,275) 396.691 Total funds brought 89071 7 £60 L69 Totsl lund•f•rrl•d fww•nl Movemerts kn funds ale dtrxfosed In Note 18 lo the fEnJ401 statemts. 8 056 860 The notes forni ofthe5e financlal Page 7
THE TRUSTEES OF ST AUGUSTfNE'S A8HEY RAMSGATE (REGISTERED NUMBER: 245415) STATEMENT OF FINANCIAL POSITION 31 Augvsl 2025 3L&25 31.8.24 Notes FIXED ASSETS Tangible assets Herltage assets Investrnents Investrnent property li 12 13 14 7,759 9.000,B72 3.980,362 78 4.798 6,270,872 4,148.522 782 651 13,771,644 11,206,843 CURRENT ASSErs stocks Debtor5 Cash et bank and In hand 15 16 s,soo 3,997 5,500 3,237 15l640 118,287 CREDrroRS Amr*unts folllng due wIttn one year 17 NET CURRENT ASSErs 125 TOTAL ASSETS CURRENT LIABILITIES 13,896,947 11,299,222 NET ASSETS 13 896 947 11 299 222 RESERVES Restrlet•d fuT8 Revaluatlon reserve Bull(Jlng fimd 18 5.97l36Z 89I76 3,242,362 89,876 Unr¢strtrted funds Income and expendlture account 18 13 896 947 11299 222 The flnandal statements were approved by the Board of Trnst on . and were slgned by.. P GreenV0d - frust U5t The notes fom part of these flnandal ststenerts Page 8
THE TRiJsfEES op sr AUGusllNE'S A8BEY RAMSGATE NOTES TO THE PXMANCIAL STATEMENTS for thé Year Endtrd 31 August 2015 ACCOUNTING POUCXES Accountlng ctsnventlon These ftnanciol Ststsments of the thartty, whlch Is a publlc ben&1t ffitlty under FRS 102, have been prepared Sn a¢coTdance wth the Charfves SORP (FRS 102} 'AcCounn9 and Reportlng by Charfknes.. statement of Recommended Pracllce appltcable to tharftles piepèrfng their acccunts In accordce wlth the Flnanclal Reportlng Standard appllcable lft thè UK and Repubmc of Ireland IFRS 102) leffe¢Uve l January 2019),, Hnandal Reportyng Standard 102 Yhe Tral&l Reportln9 &andard appllcablÈ In the UK and RepU1C ol irdand. effecuve l January 2019 and the ChatIeS Art 2011, The hnanclal statements have been prepared under the hlstorlcal cost conventkin, wlth the eK¢epUon of Investments nd land and bulldlng5. The presentatlonal currency of the flnanclal ststennts Is the Pnd Sietllng {£), Flnand?l Reportlnp Standard Number I Exwnptlon has been taken from prepadng a c45h flow ststenrt OTh the gmunds that the charfty qualilles as a small charlty. Flxod tt5s•t inveJtment8 Investments are Included at doslng rnld.market value at the baL4nce sheet date. Any galn or loss on revaluatyon Is taken to the Ststement of Flnanclal Actyvlts¢¥. Tangibl¢ flxod a68et Depreclatlon Is provfded atthe fvllowln9 annual rates In ortlerto rfteoff each asset over 5ts estimated useful Ilfe. Plant and machlnery et¢ - 33% on cost, 20% on tost H•rltsg¢ assets The monastery by the Char Is a grade two Il#ed bulldlng whlth Is con51dpxed tts be of hlstwl and naonal Interest. The monastery Is Includ on the stateMt of flnandal pos0 under the Tevaluauon method. Expendlture whl¢h Is In the vlew of the Tnjstees Is requlrÈd to preserve the monastery Is retogn In the Statement of Flnanelal Athvltles when It Is Incurred. The Trustees do no Intend to acqulre any lurther herliage assets. Furthèr Informatlon relailng to the herftage asset hekl 15 Indjed In the notes to the flnanchl st¥tements. Investment property Inve5tsnent propeity Is shown at rTWt rt vJlvJUon. Any JgJre9ats Tpl¥S or defldt arfslng frorn thJn9es In market value Is transferred to a revaluatlon reserve. Stocks Stocks are valued atthe lowerof costand netreallsable value, after rnaklng due allowan forob501ete and slow movlng M$. D•btor8 Trade and other debtor5 and o¢ogn15ed and the seiYnent aUnt afcer any trade dlscount offered. PPayMentS are value at the arnount prepald net of JDY trade due. C•$h at bank Cash at bank and In htrnd Indudes cash and short-temi hlghty Ilqusj InvestmÈnts wlth a short matuffty of three months or less Ir(wn the date of atQLrlsltlon or openlng the depOt or51mllar account. Llabllltles are recognlsed when there Is an obllgatton at the BalJrKe Sheet date as a result of • past event, It Is probably that a transfw ol econornlc beneflt wlll be rffjred In settlemenl and the amount of the settlement can be estlmated relably. Uabllltles are reColISed at an amount that the chaNty antklps bt wlll pay to settle the debt or the amount st has e5ved as athanced payments for the goots or SteS mv5t pe. Fund aceountin9 UThrestCted funds are avallable for use at the dlscrrtlon of the lrnsteqs In fvrtheran of the general oblecYvltle5 of the tharity. Deslgnated hJrk1s are unrestrtcted fvnd5 earmarked by the Management Commlttee for PaTdcular purposes. Restrlcted funds are subjerted to re5¢rfdfons on thelr expendlture Imp05ed by the donor or thrfAJ9h the terms of an appeal. Th¢ notes fom pjrt ofthese finandal st&tnerts Page 9
THE TRuEEs OF sr AuGusllME'S ABBEY RAMS6ATE IIOTES TO THE AMANCIAL STATEMFMYS for the Year Ended 31 Augujt 2025 ACCOUNTING POUCAES (tontlnued) Incomlng rnsources All Incomlng reSoUrS are In¢luded In the Statnt of flnandal attlvlues when the charlty Is entjued to the Income and the amount can be quanyfied wlth rea50Mb$2 attwacy. The followlng speclftc p0cleS are applled lo parlltular categoNes of Income.. DOnaan5 are recognlsed when recdvable. Investment Income Is Induded when receivable. Penslons and annvltles are recognised when re¢dvable. Ruourc•# #xpend•d Expendlbjre Is recognlsed on an a¢¢ruals ba$15 as a Ilablllty15 IFvJKrgJ. Expendlture Indudes VAT and Is reported as part of the expendltsjre to whl¢h It relates.. Costs of generaung lunds comprfse the costs assoclated Y41th Lh)th the costs ofaitr•cttng the Income and those of providlng the facllltle5 to generate the In¢tsrR. Charltable expendlture compNses those costs incurred by the thadty In the dery of Its athvltles and setvlces for Its benefidarfes. It Indudes both costs that caTr be allocated dlrectly to such acuvlues and those costs of an IndIrt nattjre netessary to support them. Govemance costs Indude those costs assoclated with meetlng the con5Ytutional and statutory re¢wlremÈnts of the charlty and Indude the audlt fees and c¢5ts Ilnked to the strats9lc management of the tharky. Donatqd sorvlces and volunteers Varlou5 well-wlsher5 of the monastlc communlty have been offtrkng thdr servlce5 and help. These Include three people who have been worklng at re-catalogulng, sortkng and shelvlng of books In the Ilbrary. Th1$ Is an ongoing prgjert as the volume5 In Ilbrory lrto the thousands and more are bdThg dded to the cgllectlon all the Yme. The volunteers do not work stAct hou but on'ad hot. ba519. There are three people who regularfy help manage the 9found5 Df the monastery. The grouftds are so desl9ned to be low malntenance and these volunteers help keep the grounds tldy. One person tt¢mes In one day a week who helps In the bursarfs office. HIS princlple work Is PR and obt81nin9 9rants for sorne of the routlne malntenance work that r1$ to be thne on the monastery tIldIng. Flve people regularly assSst wlth the Ilturyy on Sundays. Hlre purchès¢ and leaslng ¢ornmitments Rentsl pèld under operating leases are charg*J to the Statema)t of nandal Acllvlifes on a stralght Ilne basls over the per1od of the lease. Page 10 contlnued,,.
THE TRusfEES OF sr AUGusfiNE'S ABBEY RAMSGATE MOTES TO THE FINANCIAL STATEMENTS- mntlnu¢d for the Year End 31 Au9USt 2025 TOTAL ResouRces EXPENDED 2025 Tolal 2024 Total Cost• dlrnctly allocated ts aEIfvItI•• Establbhrnenl ccéts Dlrect 103.460 103.460 76,82É Dowstlc rry5ts Dlr 45.141 45.141 42.629 Mon8suc expenses 16.747 10.747 12,577 Ubrary Dlrttt 9.351 9,35l 10,743 Donatbns Dlre£t 12,690 Tralnlryj & eduut Dlrect 4.927 4,927 7.385 Profe5slonal fees Dtrtct 5.685 5.685 2,280 Audlt & legal fees Dkett Lifj58 11,052 Support ¢osts Ilo¢•t¢d to actlvltl•• Travelllng Usage 63.254 63.254 6D,280 Notor Usty 9JJ26 9.026 8.881 Comrnunlcai 9J45 9.345 9,306 Post & statknnuy 6.028 6.028 6.388 iauThJry & ckanlyj 3.532 3.532 Sundry expenses Il452 12.4YI Hea and care costs 4.373 4.J73 4.744 Barft tharges Ltsage 1.372 1.3n 963 Oeprectsthn 3.270 3.270 1,575 320,S85 320,585 2n.212 INCOMING RES(WRCES FOR ThÉ YEAR These are staled after charglry.. Jl.8.25 31.8.14 Depreclatbn- owr*tl asse15 Accountanty Audknr5 remuner 3.270 2,952 1,575 2,952 8,100 Pagell conunued...
THE TRUSTEES OP ST AUGusfiiiE'S ABBEY RAMSGATE NOTES TO THE FINAPICIAL sfATEMENTS- continued for the Y•ar Ended 31 Augusl 2025 STAFF cosrs 31.8.25 31.8.24 Wages and salarles The average monthly nuffknr of employees dudng the year wasas folktrws: 31.8.25 31.8.24 GOVERNANCE COSTS 31.8.25 31,8.24 Accountancy Audliors, remuneratlon 1952 2,952 658 TRUSTEÈ REMUIIERAYION AND RELATED PARTYTRANSAcfxoNS o mernber5 of the management commlitee r1Ved any remurffitlm durfng the year (2024 NIII. No expenses were relmbursed durfng the year {2024 NII). No trustee or other person related to the thadty had any personal trrest In any contrart or transaction entered Into by the during the yr {2024 Nil}. TAXATION As a chwlty. Tre Trustees of St Augu*ine's Ablxy Is exempt fr tsx on Ino)me and galn5 folling wlthln sectlon 505 Of the Taxe5 Aci 1988 or $256 of the Taxatlon ol tharyeable Galns Act 1992 to the extent that these are awlled to tts tharttable Objec No tsx charyes have arlsen In the chty. INVESTMENT INCOME 31A25 31.8.24 CCLA fvnd 116 007 PENSIONS AND ANNurriES Penslons and annultles recdved In the year were as follows: 31A.25 31.8.24 Penslons Afinultles 48,043 38,J30 P8ge 12 tontlnued,..
THE TRUSTEES OF ST AVGusfiNE'S ABBEY RAMSGAYE NOTES TO THE FIMANCtAL STATEMENTS - 11• for the Yèar End•d 31 August 2025 10. GRANTS PAYABLE Grants payable are made predomlnantly to rellgl¢)us assodauons kn anatysls of the grants pald In the year Is as follows... 31A.25 31.8.24 Almoner We5tsrn Unlon Other 1650 509 2,650 1,446 11. TANGIBLE PIXED ASSETS Plant and machinèry COST At I September 2024 Addltbons 38,579 At 31 August 2025 DEPRECIATION At I September 2024 Charge for year 33,781 At 31 August 2025 NEf BOOK VALUE At 31 August 2025 At 31 August 2024 12. HERITAGE Assrrs Land and Iwlldlngs VALUATION At I September 2024 Revaluatlon .270,872 730 000 At 31 August 2025 9.000 872 DEPRECIATfoN At I Septwnber 2024 Charge for year At 31 August 2025 NET BOOK VALUE At 31 August 202S At 31 August 2024 6,270 872 Page 13 convnued..,
THE TRusfEES OF ST AUGUmllE'S ABBEY RAMSGATE NOTES TO THE FINANCIAL STATEMEIITS- contlnued for the Year Ended 31 August 2025 12. HEIUTAGE ASSETS {contlnu¢d) If freehold land and bulldlngs had not been revalued they would have been In¢luded at the foNowlng hlstotlcal cost: 31.8.25 31.8.24 Cost 3 666 93S 3 666 935 Freehold land and bulldlngs are Of hlstoric and nauonal Inter&. The monastery at Chllworth 15 a grade Ilsted bulldlng. Freehold land and bulldÈngs were waled tsn an open market $15 on 31 August 2025 by Clarke Gammon, Chartered Surveyors. 13, FIXED ASSET INVESTMENTS Qth•r Investm•nts COST OR VALVATION At I September 2024 Revaluatlons 4,148,522 168 160 At 31 August 2025 3 980 362 NEf 8OOKVALUE At 31 August 2025 3 980 362 At 31 August 2024 4 148 522 Ir flxed asset Investments had nrt en revalued they would have been included at the followkng hlstorlcal cost: 31A.25 31.8.24 Cost Flxed asset Inv¥tments were valued on an open market bas15 on 31 AUgt 2025 by CCiA. Pa9e 14 contlnued...
THE TRUSTEES OF sr AUGusfENE'S ABBEY RAMSGATE NOTES TO THE PINANCIAL sTATEmeNTS-tinUed for the Y•ar Ended 31 August 2025 14. INVEMENT PROPEirrY Total FAIR VALUE At I September 2024 and 31 August 2025 782 651 NET BOOK VALUE At I Septsmbw 2024 and 31 August 2D25 782 651 If Investment property had not been rÉvalued It would have beffj Induded *the followlng hlstorlcal 3X.&25 31.8.24 Cost Investment pMpertEs were valued usln9 a house Index Incrnse to aTr open matht basls on 31 August 2022 by Gernld Eve, Chartered 5utveyor5. The Trustees have Yevlewed the valuatlon and belleve there to be no movement at 31 Au9USt 2025. 15. sfocK 31.&25 31.8.24 Stock 16. DEBTOR&. AMOIINTS FALUNG DUE WITHIII ONE YEAR 3L8.25 31.9.24 Other debtors 17. CREDITORSI AMOUNTS IALLING DUE wrrHIN ONÈ YÉAR 31.8.25 31.8.24 other credltors Page IS
THE TRUSTEES op sr AUGusfINE'S ABBEY RANSGATE NOTES TO THE FIIIANCIAL sfATEIIEIITS -eontlnu•d lor the Ywr Endod 31 August 2025 18, MOVEMEPIT IM FUNDS Ket YMnsf•r• movement bètween In funds funds At 3L8.2J At 1.9.24 Unr•¥tricted lund• Q>re 7,966,984 (13¥275) 7A34,709 ReBtTlct•d funds RevaluatlorT reserye Bulldin9 rtserve 3,242,362 2,730,oIxI 89.876 5,972,362 89,876 TOTAL FUNDS 11 299 212 13 896 947 Net movement In hjnds, Included the above are as follow5: Zn(xnltho Rwoure•s Mo•t reJtyurt48 expended in funds Unrestrithd fund• Core 355,$41 (487,816) (132.275) R•stri¢ted fund• Revaluatlon reserve Outreath - La AmerfE Bulldlng reswve 730,000 928 ¥730.000 (928) TofAL FUNDS Bulldlng reser4Ve The bulldSno reserve is for o fiJbj project to tsJlld a new lknrarylguest house. 19. OPERATIIIG LEASE COM141TMEIITS As at 31 August 2025, the charlty had commItMlS to make fvbjre mlnlmum1*5È paymEnts under non-cancellable operaung leJse5 a5 31.8.25 31.8.24 Due wlthln l years Later than l year and not later than 5 years 6.728 6,728 Page 16
THE TRusfEES OF ST AUOUSTINE'S ABBEY RAMSGATE DAllLED INCOME AND EXPtNDThURE ALTOUNT for the Y¢ar Ended 31 August 2025 2025 2Q24 TURNOVER Donafjons stlpends Stste penslons Investment Income Sanctuary Income Gift Ald Other Income Bequests 47,663 6,879 48,043 116,007 22.C106 47,581 3,019 138,919 115,299 17,147 3,444 59,118 6,670 311068 344,922 COST OP SALES Openlng stock Pwehases Closlng stock 5.500 5,881 5,000 8,487 GROSS SURPLUS 305,98? 336,935 Admlnigtratlve Expenses Tr4vel èxpenses Rates and water Property management and swvl¢e ¢harge5 Ught ?Trd heat Rep41rs to property Cleanlng Motor expenses Grocedes Domestic supplles Software & malnienance Repalrs & renewals Insurance Rental Insurance Post and stauonery Tralnlng & educatfion Ubrary )n•stl¢ dues 63,254 6,823 3.248 27.210 28,541 3.532 9.026 42,738 2,403 Z,B31 3,360 37,043 595 6.028 4.927 9.351 16,747 60,280 8.972 22,265 13,157 4,009 8,881 39,435 3,194 2,705 599 32.427 6,388 7.385 10.743 12,577 Thts page does not form part of the statutory f(narthl statements Page 17 tontlnued...
THE TRUSTEES OF ST AUGUSTINE'S ABBEY RAMSGATE DEfAILED INCOME AND EXPENDITURE ACCOUNT for the Year Ended 31 AUgIt 2025 Communltations Accountancy Audit fee5 Professional fees Bank charges Charltable donations DepCIatIOn of computer equlpment Sundry expenses Medlcal and care costs 9,345 2,952 9.706 5.685 1,372 9,964 3.270 6,261 4.373 9.306 2,952 8,100 2,280 963 12,690 1,575 2,585 4,744 (320.585) (278.212 Other Operatlng Income Rents receive 50,482 21,517 $0,482 21,517 Galn/{loss) on revaluation of Investments 168,159) 316.451 168,159) 316,451 NEf SURPLUS/(DEFICTh) (132.275 396 691 Page 18
REPORT OF THE INDEPEPIDEIIT AUDrroRS TO TIIE TRusfEES OF THE TRUSTEES OF sr AUGusfxNE'S ABBEY Oplnlon We have auditÈd the ftnandal Statements ofThe Trnstees of St Augusthe's Abbty (the'charfty'l for the year ended 31 August 2025 whlch comprfse the Statemertt of Flnantirl Actte$. the Balance Sheet and notes to the financld statements. Inclvdlng a summary of slgnlflcant COunting p1cles. The flnanclal reporung framework that has been applled In thelr preparayon is appikjble law and Unlted Klngdom Accountlng Stsndards (Unlted Kingthjm Generally Accepted Accountlng Prndlce). In our ¢plnlon the flnanclal statements.. gSvè a true and falr vlew of the state of the charfty's affalrs as at 31 Au9USt 2025 and of Its Intomlng resources and appllcatlon of resotsrces. for the year then ended: have been propedy prepared In accord¥n wlth Unltsd Klngdom Generally Accepted ACcoun9 Prartlce: and have been prepared In accordano the requlrerwts of the Charlthg A¢t 2011, isls for opinlon We conductsd our audlt In ac¢ord)nce wtth Intematyon?I Standards on Audltsng (UK) {ISAs {UKI) and appllcablè law. Our responslblleS under those standards aye further descdbed In the Audltors, re5ponslbllltles for the audlt of the financlal stotements secbon of our report. We are Independent ofthe charlty In accordance wlth the eihlcal requirements that are relevant t) our auEIt of the finantaal statements In the UK, Sncludlng the FRC¥ Ethlcal StsTrdard, and we have fvlfllled our other ethlcal respons1tlItIeS In accordance wlth these requlrements. We belleve that the audyc we have obtalned Is SLTrfflclent and apprtrpate to proylde a basts for our opknlon, Conelujions relatlng to 8olng Cgncern In audttlng the f4nanclal statements, we have cOndle that the trust£e¢ use of the golng c¢)Thc bjsls of accoltntlng In the preParaOn of the flnandal statemMts Is approprlat& Based ¢n the work we have perfomied, we have not Identlfied any mablal uncertalnljes relatlng to event5 oi condltyons that, Indvldually or collectlvely. may cast slgnlficant doubt ofi the chèrlty's abl11ty to conttnue as a golng concem for a perlod of at least twelve rrthths from when the flal statements are uthtsrtsed lor Iss. Our responslbllitlès ènd the responslbllldes of the trusteos wlth respect ts gtqng corKern are descrfbgj ln the relevant secuons of thrs repcyt, Qth•r Ibthbrmatlon The trustees ore responslble for the other Infomiatlon, The other Infomwtlon compdses the Informatlon Included In the Annual Repor¢ other than the ftn8ndHI statÈments and our Report of the Independent Audltors thereon. Our oplnknn on the flnanclal staternents does not cover the other Infommtlon and. except to the extent OtheSe expllduy stst8J In our repor¢ we do not expre55 any form ofaswrance concluslon thereon. In connertlon wlth our audlt of the flnandal statements, our responsltlllty L8 to reod the other Inforrnauon nd, IA doino 50. eonsldw whether the other Infomiatlon Is materially Inconlstent wlth the flnanclal slaternents or our knov•leth)e obtalned In the audlt or otherwlse appears tts be matedally mIsstat. If we Idetttlfy such Mateal Inconslstencles or apparent materfal mlssiatemerts. are requlred to deternilne whether thls glve5 r15È to J material mlsstatement In ihe financlal statements themselves. If. based on the work we have performed, we ¢onclude that there Is a materfol mlsstaiemenl ol thls Dther Infom)adon. we are 1¥ ts report that fact. We h•ve nothlng to repTrrt kn thls reg¥d. Mattors on whlch we are requlred to report by •x¢¢ptlon We have nothlng to report In respect of the followlng matters wheTe thecharities (Accounts and Reports) Regulatlons 2008 requlres us to report to you If, In our oplnlon: the Informauon glven In the Report of the Twstees is Inconastent In any matedNI respect the flngn¢lal stotements. or suffl¢lent accounung records have not been kept,. or the flnanclal statement5 are not In a9reernent with the accwnting recorfs and returns: or we have not reeefvel all the Infvrmatlon and explanayons we rewlre for our audlt. Page 19
REPORT OF THE INDEPEIIDEIIT AUDrroRS TO THE TRUSTEES OF
THE TRUSTEES OF ST AUGIFSTINE'S ABBEY
R•spofvsibllltles of trustee•
As explalned more lully In the Statement of Trustees, Responslblmijes, thè trustee5 are re5ponslble for the
prepaTrtlM of the flnanclal ststements which glve a true and lalr ¥kw, aDd for suth lrttemal Contr as the
trn5tee5 deterrnlnels nece55ary to enable the preparduon of finandal ststernents that are free frorn
matwlal mlsststemen( whether due to fraud or error.
In preparlng the flnanttal statements. the trustees are reSpbEe for assesslng the chatlty's ablllty to
contjnue as a g0Sng Conrn, dlscloslng, as appllcable, matters relaied to golng conrn and uslng the
golng conrn basls of accountlng unless the trustees elther Intend w IquldJte thè tharfty or to cea
operattons. or have no reallsuc altemative but to do $0.
Oyr rtsponslbllltles for th• •udlt of the flnaTrdal slJtwnont¥
We have been appointÈ
REPORT OF THE INDEPENDENT AUDITORS TO IHE TRUSTEES OF THE TRusfEES OF ST AUGUSTINE'S AB8fY YauSe ol the lAheAt limtIOnS of an audl¢. there Is a rlsk that we tll not detect all Irregulartues. Includlng those lea(nng to a material mlsstaterTWt In the ftnanclal statements or non-compllance wlth regulatlon. Thls rfsk Increa5£8 the nw)re that compllance wlth a law or regulauon fs removed froTn the events and transathons relterted In the financlal ststements. as we wll be fess Ilkely to become aware of Instances of non-c0mpl1an. The rfsk Is also greater regardlng Irregularlues occurrlng due to fraud rather than error, as fraud Involve5 Intsntlonal tontealment, foryery. colluslon. omI5On or mL$reprtatyQD. A lurther deserlptyon of our resnS[lIteS for the audlt of the flnand statements Is located on the Flnan¢iJl Reportlng Councll's webslte at wYKw.frt.org.uklaudStorsresponslblliUes. Thls descilptlon fonns part ofour Report of the Independent Audltors. Use olour r•port Thls report Is made solely to the trustees. as a body. In accordance wth P4rt 4 of the Ch8dtle$ (Accounts and Reports) Regulions 2008. Our èudlt work has been undertaken so that we mlght stste to the charlty's trustees those matters we are requlred to state to them In an audOr$, reptsrt and for no other purpose. To the fullest extent pemiltted by law, we do not accept or assume respon51blllW to anyone other than thè charlty the charlty's trustees as a body, fttr our audlt for thts rer6 or for the oplnlons we have fomied. Cabè Ford Wllllarns Chartered Accountants and Statutw Audknrs Charltèn House Dour Street DOVER Kent CT16 IBL Oate., 29 M_aL F_) UJ, Page 21