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|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|
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|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|||
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|||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|
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||||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|
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|||||||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|
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||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|
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||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|
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||||||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|
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|||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|
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|||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|
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|CREDITORS: Amounts
falling due within one|year||
|---|---|---|
||2021|2020|
|||E|
|Trade creditors|2$9|21,695|
|Other creditors|63,013|135,618|
|Accruals|2,262|2,262|
||65,564|159,575|
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|Analysis of|movement
in|unrestricted
funds|||||
|---|---|---|---|---|---|---|
||||||Transfers||
|||Balance at|Incoming||between|Balance at|
|||1Jan21|resources|Expenditure|funds|31Dec21|
|||s|f|E|s|E|
|Designated|funds|50,000||||50,000|
|General funds||(31,852)|68,240|(12,040)|(92$)|23,424|
|||18,148|68,240|(12,040)|(928)|73,424|
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|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|
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|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|
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|||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|