| CONTENTS | PAGE | |
|---|---|---|
| Trustees Annual Report |
||
| Independent examiner's |
report tothe trustees | |
| Statement offinancial activities | ||
| Balance sheet | ||
| Cash flow statement | ||
| Notes to the financial statements | 8-14 |
| Registered charity | Registered charity | name | StMichael's Abbey Charitable | StMichael's Abbey Charitable | Trust |
|---|---|---|---|---|---|
| Charity registration | number | 326241 | |||
| St.Michael's Abbey | |||||
| 280 Farnborough | Road | ||||
| Farnborough | |||||
| Hampshire | |||||
| GU14 7NQ | |||||
| The trustees | |||||
| The trustees | who served the charity during the period were | as follows: | |||
| Rt Rev. D. C.Brogan OSB | |||||
| Rev N.T.Harper OSB | |||||
| Rev. A. A. Hood OSB | |||||
| Bankers | The Royal Bank of | Scotland pic | |||
| Lawrie House | |||||
| Victoria Road | |||||
| Farnborough | |||||
| Hampshire | |||||
| GU14 7NR | |||||
| Solicitors | Thomas Eggar LLP | ||||
| Newbury House |
|||||
| 20 Kings Road West | |||||
| Newbury | |||||
| Berkshire | |||||
| RG14 SXR | |||||
| Independent | examiner | Mr S.P. F.Howell | FCCA | ||
| TCGroup | |||||
| The Granary | |||||
| H ones yard | |||||
| Waverley Lane |
|||||
| Famham | |||||
| Surrey | |||||
| GU9 8BB |
| Unrestricted | Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | ||
| Note | E | g | g | E | |
| INCOIVIE AND ENDOWMENTS FROM: | |||||
| Donations and legacies | 54,701 | 917,942 | 972,643 | 232,028 | |
| Charitable activities |
13,537 | 13,537 | 7,243 | ||
| Investments | 2 | 2 | 8 | ||
| TOTAL INCOME | 68,240 | 917,942 | 986,182 | 239,279 | |
| EXPENDITURE ON: | |||||
| Charitable activities |
5 | (12,040) | (526,040) | (538,080) | (220,844) |
| TOTAL EXPENDITURE | (12,040) | (526,040) | (538,080) | (220,844) | |
| Transfers between funds | (928) | 928 | |||
| NET INCOME/(EXPENDITURE) | 7 | 55,272 | 392,830 | 448,102 | 18,435 |
| RECONCIUATION OF FUNDS |
|||||
| Total funds brought forward | 18,152 | 115,912 | 134,064 | 115,629 | |
| TOTAL FUNDS CARRIED FORWARD | 73,424 | 508,742 | 582,166 | 134,064 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | E | ||||
| FIXEDASSETS | |||||
| Tangible assets | 10 | 122,746 | 103,810 | ||
| CURRENTASSETS | |||||
| Debtors | 522,072 | 114,092 | |||
| Cash at bank and in hand | 2,912 | 75,737 | |||
| 524,984 | 189,829 | ||||
| CREDITORS:Amounts | falling due within one year | 12 | (65,564) | (159,575) | |
| NET CURRENT ASSETS | 459,420 | 30,254 | |||
| TOTAL ASSETS LESSCURRENT LIABIUTIES | 582,166 | 134,064 | |||
| NET ASSETS | 582,166 | 134,064 | |||
| FUNDS | |||||
| Restricted Funds | 13 | 508,742 | 115,912 | ||
| Unrestricted Funds |
13 | 73~24 | 18,152 | ||
| TOTAL FUNDS | 582,166 | 134,064 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Note | f | s | |||||
| Reconciliation ofnet (expenditure) to net |
cash flow from operating | activities | |||||
| Net income (as per the statement of | financial activities) | 448,102 | 18,435 | ||||
| Adjustments for: |
|||||||
| Depreciation charges |
32r192 | 28,039 | |||||
| Interest received | (2) | (8) | |||||
| (Increase)/decrease in debtors |
(407,980) | 6,826 | |||||
| Increase/(decrease) in creditors) |
(94,011) | 51,010 | |||||
| Net cash inflow/(outflow) from operating |
activities | (21,699) | 104,301 | ||||
| CASH FLOW STATEMENT | |||||||
| 2021 | 2020 | ||||||
| f | E | ||||||
| Cash flows from operating activities: | |||||||
| Net cash provided by (used in) operating |
activities | (21,699) | 104,301 | ||||
| Cash flows from investing activities: |
|||||||
| Interest received | 2 | 8 | |||||
| Payments to acquire tangible fixed assets |
(51,128) | (29,116) | |||||
| Net cash provided by (used in) investing |
activities | ||||||
| (72,825) | 75,193 | ||||||
| Change in cash and cash equivalents | in the reporting | period | 75,737 | 544 | |||
| Cash and cash equivalents at the beginning |
ofthe period | (72,825) | 75,193 | ||||
| Cash and cash equivalents atthe end |
ofthe reporting period | 2,912 | 75,737 |
| Unrestricted | Restricted | Total Funds | Total Funds | |
|---|---|---|---|---|
| Funds | Funds | 2021 | 2020 | |
| E | 6 | E | E | |
| Donations | 51&672 | 917,942 | 969,614 | 231,466 |
| Gift aid | 3,029 | 3,029 | 562 | |
| 54,701 | 917,942 | 972,643 | 232,028 |
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2021 | 2020 | |
| E | E | E | |
| Tours | 763 | 763 | 895 |
| Mass Stipends Other |
10,155 2,513 |
10,155 2,513 |
4,685 1,600 |
| Votive candles | 106 | 106 | 63 |
| 13,537 | 13,537 | 7,243 | |
| INVESTMENT INCOME | |||
| Unrestricted Total Funds |
Total Funds | ||
| Funds | 2021 | 2020 | |
| E | 4 | E | |
| Bankinterestreceivable | 2 | 2 | 8 |
| Activities | Management | |||||||
|---|---|---|---|---|---|---|---|---|
| undertaken | and | Total Funds | Total Funds | |||||
| directly | administration | 2021 | 2020 | |||||
| 4 | 4 | E | E | |||||
| Charitable | activities | —insurance | costs | 589 | 589 | 2,093 | ||
| Management | and administration | |||||||
| costs | 455,800 | 80,663 | 563,463 | 218,406 | ||||
| Costs ofgenerating | funds | 1,028 | 1,028 | 345 | ||||
| 457,417 | 80,663 | 538,080 | 220,844 |
| Activities | Management | ||||
|---|---|---|---|---|---|
| undertaken | and | Total Funds | Total Funds | ||
| directly | administration | 2021 | 2020 | ||
| 4 | E | E | |||
| Purchases | 12,645 | 12,645 | 8,657 | ||
| Repairs and maintenance | 443,155 | 443,154 | 122,976 | ||
| Insurance | 45 | ||||
| Travelexpenses | 6,719 | 6,719 | 14,000 | ||
| Motor expenses | 6,814 | 6,814 | 3,832 | ||
| Monastic taxes and expenses | 2,380 | 2,380 | |||
| Sundry expenses | 30,017 | 30,017 | 20,957 | ||
| Accountancy | and other professional | ||||
| fees | 1,876 | 1,876 | 11,907 | ||
| Studies for personnel | 170 | 170 | 7,180 | ||
| Bank charges | 495 | 495 | 813 | ||
| Depreciation | 32,192 | 32,192 | 28,039 | ||
| 455,800 | 80,663 | 536,463 | 218,406 | ||
| NET EXPENDITURE FOR THE YEAR | |||||
| This isstated | after charging: | ||||
| 2021 | 2020 | ||||
| 4 | s | ||||
| Depreciation | 32,192 | 28,039 | |||
| Operating lease costs: |
|||||
| -Other | 589 | 2,093 |
| Fixtures &fittings, etc | Fixtures &fittings, etc | ||
|---|---|---|---|
| COST | |||
| At 1January 2021 | 335,669 | ||
| Additions | 51,128 | ||
| At31December 2021 | 386,797 | ||
| DEPRECIATION | |||
| At 1January 2021 | 231,859 | ||
| Charge forthe year | 32,192 | ||
| At31December 2021 | 264,051 | ||
| NET BOOK VALUE | |||
| At31December 2021 | 122,746 | ||
| At 31December 2020 | 103,810 | ||
| DEBTORS | |||
| 2021 | 2020 | ||
| E | E | ||
| Other debtors | 478,848 | 103,750 | |
| Empress Eugenic Memorial | Trust | 43,224 | 10&342 |
| 522,072 | 114,092 |
| CREDITORS: Amounts falling due within one |
year | |
|---|---|---|
| 2021 | 2020 | |
| E | ||
| Trade creditors | 2$9 | 21,695 |
| Other creditors | 63,013 | 135,618 |
| Accruals | 2,262 | 2,262 |
| 65,564 | 159,575 |
| Analysis of | movement in |
unrestricted funds |
||||
|---|---|---|---|---|---|---|
| Transfers | ||||||
| Balance at | Incoming | between | Balance at | |||
| 1Jan21 | resources | Expenditure | funds | 31Dec21 | ||
| s | f | E | s | E | ||
| Designated | funds | 50,000 | 50,000 | |||
| General funds | (31,852) | 68,240 | (12,040) | (92$) | 23,424 | |
| 18,148 | 68,240 | (12,040) | (928) | 73,424 |
| Analysis | of | movement in unr |
estricted funds- previous |
year | ||
|---|---|---|---|---|---|---|
| Balance at 1 | Incoming | Balance at | ||||
| Jan 20 | resources E |
Expenditure E |
31Dec 20 f |
|||
| Designated | funds | 50,000 | 50,000 | |||
| Genera | Ifunds | 65,629 | 110,529 | (208,006) | (31,852) | |
| 115,629 | 110,529 | (220,844) | 18,148 |
| Analysis o | fmovement in restricte |
d funds | ||||
|---|---|---|---|---|---|---|
| Transfers | ||||||
| Balance at | Incoming | between | Balance at | |||
| 1fan 21 f |
resources 6 |
Expenditure f |
funds f |
31Dec21 f |
||
| Restoration | ofthe Cavaille-Coll | |||||
| organ | 90,912 | 6,250 | (98,090) | 928 | ||
| Printing ofthe Monastic Diurnal | 25,000 | (25,000) | ||||
| Restoration | ofthe bell turret | 30,000 | (24,765) | 5,235 | ||
| Conservation works on the |
||||||
| Farnborough Abbey church |
||||||
| interior and windows | 616,626 | (194,766) | 421,861 | |||
| Restoration | of Farnborough | |||||
| Abbey | 120,000 | (118,616) | 1,384 | |||
| Emergency | fund for the Abbot | |||||
| Visitor | 10,000 | 10,000 | ||||
| Visitor's provincial work |
4,990 | (727) | 4,263 | |||
| Additional | grounds work |
56,476 | (56,476) | |||
| High Mass | vestments | 7,000 | 7,000 | |||
| Furnishings | for the Grade One | |||||
| historic church | 39,000 | 39,000 | ||||
| Monk studying for ordination |
||||||
| fees | 7,600 | (7,600) | ||||
| Living expenses for a monk on | ||||||
| legitimate | leave from his | |||||
| community | 20,000 | 20,000 | ||||
| 115,912 | 917,942 | (526,040) | 928 | 508,743 |
| Analysis of movement in restri |
cted f | unds- previous y | ear | ||
|---|---|---|---|---|---|
| Balance at1 | Incoming | Balance at | |||
| Jan 20 f |
resources f |
Expenditure f |
31Dec20 f |
||
| Restoration ofthe Cavaille-Coll | organ | 103,750 | (12,838) | 90,912 | |
| Printing ofthe Monastic Diurnal | 25,000 | 25,000 | |||
| 128,750 | (12,838) | 115,912 |
| Unrestricted | Designated | Restricted | |||
|---|---|---|---|---|---|
| funds | funds | funds | Total | ||
| E | E | ||||
| Tangible | fixed assets | 41,423 | 50,000 | 31,123 | 122,746 |
| Current | assets | 44,652 | 477,420 | 522,072 | |
| Cash at | bank and in hand | 2,912 | 2,912 | ||
| Current | liabilities | (65,564) | (65,564) | ||
| Total Funds | 23,424 | 50,000 | 508,743 | 582,167 |
| Unrestricted | Designated | Restricted | |||
|---|---|---|---|---|---|
| funds | funds | funds | Total | ||
| E | E | ||||
| Tangible | fixed assets | 53,810 | 50,000 | 103,810 | |
| Current | assets | (1,820) | 115,912 | 114,092 | |
| Cash at | bank and in hand | 75,737 | 75,737 | ||
| Current | liabilities | (159,575) | (159,575) | ||
| Total Funds | (31,848) | 50,000 | 115,912 | 134,064 |