THE FRIARS, AYLESFORD
Financial health, per its FY2023 accounts
The accounts state that the group made a net loss of £23,803 for the year ended 31 December 2023, a significant improvement from the previous year's surplus. The trustees report that unrestricted general reserves increased to £423,943, supported by a £55,000 loan from the connected Carmelite Charitable Trust. The trustees confirm the charity is a going concern, citing confidence in its financial sustainability despite rising costs.
What the accounts disclose
“The Friars, Aylesford received an unrestricted grant of £120,000 (2022: £120,000) and rent of £nil (2022: £1,050) from the Carmelite Charitable Trust.” — page 56
“The Carmelite Charitable Trust also loaned £55,000 to The Friars to assist with the works on the Artisans’ Yard project. The repayment terms for this loan is 15 years with no interest.” — page 56
“The Friars, Aylesford received an unrestricted grant of £120,000 (2022: £120,000) and rent of £nil (2022: £1,050) from the Carmelite Charitable Trust.” — page 56
“The Carmelite Charitable Trust also loaned £55,000 to The Friars to assist with the works on the Artisans’ Yard project. The repayment terms for this loan is 15 years with no interest.” — page 56
“The Friars, Aylesford received an unrestricted grant of £120,000 (2022: £120,000) and rent of £nil (2022: £1,050) from the Carmelite Charitable Trust.” — page 56
“The Carmelite Charitable Trust also loaned £55,000 to The Friars to assist with the works on the Artisans’ Yard project. The repayment terms for this loan is 15 years with no interest.” — page 56
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- Rev Brendan Grady
- Rev Michael David Cox
- Rev PATRICK O'KEEFFE
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.9m | £1.7m |
| 31/12/2023 | £1.7m | £1.7m |
| 31/12/2022 | £1.8m | £1.6m |
| 31/12/2021 | £1.4m | £1.0m |
| 31/12/2020 | £1.1m | £1.1m |
Common questions
Is THE FRIARS, AYLESFORD financially healthy?
The accounts state that the group made a net loss of £23,803 for the year ended 31 December 2023, a significant improvement from the previous year's surplus. The trustees report that unrestricted general reserves increased to £423,943, supported by a £55,000 loan from the connected Carmelite Charitable Trust. The trustees confirm the charity is a going concern, citing confidence in its financial sustainability despite rising costs. Its FY2023 accounts were audited by Buzzacott LLP.