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 FINAN￿AL 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 AUll￿t 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 st￿et 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 Repo￿n9 by Chadties", Flnanclal Re￿rtI￿j Stsndard 102 Yhe Flnanclal RqyothThJ StaNFaTd appllcable In the UK Ind Rep￿lIC of Ireland., effe£Nve 1st )aDUary 2019. Constltutlon •nd obJ¢¢ts St Augusune's Abbey Ramsgate Is ¥ thaNty const*JJted 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 d￿￿10P our exlstlng guest minlstry to offer resldentlal and non-resldentlal host4tallty to groups and Indlviduals. bc*th men and women. We also hfjpe to offer structured retwts. educauonal courses and splrftual and Ifttellectval study days. Ther&15 a150 a pres￿￿9 need for a pra￿Cal, wr-ffiendly Stsvcture In whlch to hwse the Comnwnws large monastlc Ilbrnry. A fiJrther press release was tssued on 31st December 2010 Sts￿ng that the Cornmunlty. hjrfng negouated wlth the Order of Frlars Mlnor, wa5 mo￿n9 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 forn￿lIy moved. The full Ilturgy Is belng condurted In the church and WÈ a￿ Jolned In thls by mem￿r$ 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 pande￿C many of these actlvlues have now been re-lntroduced. Plans. project managemen¢ and fundr*lng are stlll In the ea￿v 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 p0s￿bI￿ty 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 pro￿dIng 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 Ab￿t of St Au9UStlne's and suth other m¥rbers ofthe mortrI5Uc communlty as he may appolnt. When the Abbot ￿￿te$, he Is replaced by another *rted by the mtsnastfc cowrnunlty actordlng to the Con5titsJ¥ons of the Svblaco-Casslne9e Congwatlon of the Benedlctlne Ordw. The Trew Abbot wlll become a trustee and appolnt any other trustee5 he sees fft. All trusW we, therefore. fully conversant wlth the alms and obJectlve5 of the tsryanlsaiion. Gr4nt Making Pollcy Owlng to the cOn￿de￿ble capltal (*J¥oy on the r*loca￿On Of the Comnwntty the Trt￿$ 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 Founda￿on. 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 g￿Ing a totsl Income and expendlture account to carry forward of £7,924,585 {2024.. £8,056,860). R￿erVeS Pollty The Trustees negouated th¢ sole of the property of St Peteffs chu￿ W*ate-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 aC￿pta￿e 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 aCtI￿tIes. 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 Unde￿tand that thL% Is Ilkely to mean that the InvestmÈnt wlll be COn￿ntrated In real assets and that the caplial value will fluciu&& The trustees are able to tolerate volatlllty of thè tapltal y￿￿e 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 tmst*s are responsible for Idenllfylng and monltoring su]table Inveslment manaw and Investnwt vehlcles for the Trust. A55et allotatlon wlll vary from thL8 tsryety O￿n9 to mBrket movemenLs. Fornial rebalancln9 of the porifdlo asset allotation OCCUTS on an annval ba515, uThle5sthetrustees b￿￿eve 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 0￿gInallY 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 d￿ded therefore that we must moveto another Investment ManageM￿t Company. Followlng the help ttnd adv1￿ of Independent advIso￿ wlth long e¥perkn￿ In the field nlne companles were Sent a 'Requesi ft*r Proposal. letter. These Induded, Dolpln, C(IA, CazeDove, Chart&5 Stanley, Heathooé Investment Managementy IftvÈstec. QuI￿r the￿0t, 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 Manag￿llt. Followlng meetln9s wlth all three It became clear that from the ￿rspectIVe ol Incom¥, fee strnC￿re?￿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 chart￿e$ Eth1￿1 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 Investff￿t Funé Is run by CCLA and because the funds were moved 'ln housd the Trustees th￿rred 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 llab1ll￿es to assets. Thls has led to the r￿ess￿ of for￿ll$lA9 twns of the rela￿0Th$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 DIO￿an 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 advan￿ment 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 Th￿￿kS provlde splritual th￿c￿on 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 a0￿￿ncement of the Roman CathollcFalth In Gre* Brttaln andtrelanLlandforsuch tha￿table 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 W￿shIpperS as wdl as a SI￿lfl¢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 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 commItM￿lS 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 D￿AllLED 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 AUgI￿t 2025 Communltations Accountancy Audit fee5 Professional fees Bank charges Charltable donations Dep￿CIatIOn 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 $0,482 21,517 Galn/{loss) on revaluation of Investments 168,159) 316.451 168,159) 316,451 NEf SURPLUS/(DEFICTh) (132.275 396 691 Page 18 REPORT OF THE INDEPEPIDEIIT AUDrroRS TO TIIE TRusfEES OF THE TRUSTEES OF sr AUGusfxNE'S ABBEY Oplnlon We have auditÈd the ftnandal Statements ofThe Trnstees of St Augusthe's Abbty (the'charfty'l for the year ended 31 August 2025 whlch comprfse the Statemertt of Flnantirl Ac￿￿tte$. the Balance Sheet and notes to the financld statements. Inclvdlng a summary of slgnlflcant ￿COunting p￿1cles. 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 ACcou￿n9 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 responslbll￿eS 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 respons1t￿lItIeS In accordance wlth these requlrements. We belleve that the audyc we have obtalned Is SLTrfflclent and apprtrp￿ate to proylde a basts for our opknlon, Conelujions relatlng to 8olng Cgncern In audttlng the f4nanclal statements, we have cOnd￿le￿ that the trust£e¢ use of the golng c¢)Thc￿ bjsls of accoltntlng In the prePara￿On 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 fl￿￿￿al 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 Othe￿Se 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 Mate￿al 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 reSp￿￿￿bEe for assesslng the chatlty's ablllty to contjnue as a g0Sng Con￿rn, dlscloslng, as appllcable, matters relaied to golng con￿rn and uslng the golng con￿rn basls of accountlng unless the trustees elther Intend w IquldJte thè tharfty or to cea* operattons. or have no reallsuc altemative but to do $0. Oyr rtsponslbllltles for th• •udlt of the flnaTrdal slJtwnont¥ We have been appointÈ The extent to whlch our procedures are capable of detertlng I￿Yula1￿le$. Indudlng fraud Is detalled below.. r appmach to Identlfylng and as5esslDg the rlsks of materfal mlsst*emwt In respect of Irreguladues. Includlng fraud and nOn￿O￿p114nc* wlth laws and regulatlons. was as ftllows: the ￿)ga￿ment partner enswed that the thgapmffit te)m collÈYUvdy had the approprfate competence, capablllues and skllts to Idenvfy or recoynis* non-compllance with applcable la￿ and regulatlons,. we Idwtified the laws and re9ulattOns applkablè to the tharity through dlsuJ$4Dns wlth trustees, and from our commerdal knowledge and eXper1erL￿ of the charlty sertor,. we developed and malntalned our undetstandlng of these laws aTrJ fegulauons through mandatory prDfesslonal educayon, focusslng on speciflc laws and regulauons whlth we ¢onsldered rnay have dlrert materfal effect on the flnanclal statements or operayons of the Charlty, Indudng the cha￿e5 Act 2011, SORP IFRS102). the Common Reportkng Strndard; and Identlfied laws and regulatlons were communlcated wlthln the authtteam regularly and the team remalned alert to Instances of non-conwlance throughout the autht. We assessed the SUS￿ptI￿l1ty of the Chartys ftnandal siatements to Ma￿al mlsstatemeTht, Induthng obtslnlng an understanding of how fraud mlght occur, by.. rnaklng enqulrles of management as to where they tonsldered the￿ suxeptlblllty to fraud, thelr knowledge of actual. suspected and alle9ed fraud. and conslderlng the Intemal controls In place to MI￿gate risks of fraud non-conWI￿￿ wlth law5 and regulations. ro address the rlsk of fraud through management bla5 and overrtde of contmls. we.. performed analytlcal proeedure5 to idenufy any unusu41 or unexFetted relatlon5hbps' and tested Journal entrles to Idenyfy unusual transactlons,. orKI Investigated the Trilonale behlnd 51gnlllcant or unusual transacuons In response to the of lrrtgular1￿eS and non-compllan￿ wlth la¥¥s ￿9￿atIons, WÈ designed procedures whlch Included, but were not Ilmlted to,. agreelng flnanclal statement dlsdosures to underfylng supporung L*xurnentstion,' enqulrln9 of Manag&￿￿t as to a¢tyal and potertU41 Iltlgatlon da1￿#. Page 20 REPORT OF THE INDEPENDENT AUDITORS TO IHE TRUSTEES OF THE TRusfEES OF ST AUGUSTINE'S AB8fY Y￿auSe ol the lAhe￿At lim￿￿tIOnS 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. omI5￿On or mL$repr￿￿tatyQD. A lurther deserlptyon of our res￿nS[￿lIt￿eS 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) Regul*ions 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 aud￿Or$, 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 re￿r6 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