WALSINGHAM TRUST
Objectives a) the provision of maintenance and repair of places of worship, hostel accommodation and facilities for pilgrims; b) the promotion of public worship; c) the advancement of religion and relief of poverty anywhere in the world. The charity operates the Pilgrim Bureau, a hostel for pilgrims, and the Slipper Chapel at the site of the Walsingham Shrine as well as shops and a cafe.
Latest income
£3.3m
Latest spending
£3.0m
Registered
2018
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that the charity made a deficit of £137,991 on general funds, reducing free reserves (unrestricted funds less fixed assets) to a negative £644,771. The auditors note that while going concern is currently supported by post-year-end cash flow improvements, further deficits could significantly weaken the charity's financial position.
What the accounts disclose
Related-party transaction: The document mentions a loan from CaTEW converted to a grant, but does not explicitly state that CaTEW is a related party. Without explicit disclosure of the relationship, this cannot be classified as a related party transaction based strictly on the text.
“Loan from CaTEW converted to a grant £500,000” — page 61
“Legacy income misposted to accrued income £10,000” — page 61
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The document mentions a legacy receipt, but does not disclose the donor as a related party.
“Loan from CaTEW converted to a grant £500,000” — page 61
“Legacy income misposted to accrued income £10,000” — page 61
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The document mentions a provision for architects fees, but does not disclose the architects as a related party.
“Loan from CaTEW converted to a grant £500,000” — page 61
“Legacy income misposted to accrued income £10,000” — page 61
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The document mentions additional legacy income, but does not disclose the donor as a related party.
“Loan from CaTEW converted to a grant £500,000” — page 61
“Legacy income misposted to accrued income £10,000” — page 61
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The document mentions a redundancy programme, but does not disclose any specific related party transactions involving trustees or connected persons.
“Loan from CaTEW converted to a grant £500,000” — page 61
“Legacy income misposted to accrued income £10,000” — page 61
Per its FY2024 accounts as filed with the Charity Commission.
Governance: The document is an 'Audit Findings Report', not the statutory accounts. It details control weaknesses (missing documentation, credit card authorisation, VAT reconciliations, IT controls, delays in posting) but does not explicitly state that the accounts were filed late, nor does it mention regulator engagement or serious incident reports in the context of governance failures requiring disclosure.
“During our audit, there were several documents that could not be located. This included backup for some income items (deposits and bank receipts) as well as loan documentation and property sales.”
“During our testing, we found no evidence of authorisation of credit card expenditure. This could mean that unauthorised expenditure will be incurred.”
Per its FY2024 accounts as filed with the Charity Commission.
Governance: Control weakness identified: Credit card authorisation missing.
“During our audit, there were several documents that could not be located. This included backup for some income items (deposits and bank receipts) as well as loan documentation and property sales.”
“During our testing, we found no evidence of authorisation of credit card expenditure. This could mean that unauthorised expenditure will be incurred.”
Per its FY2024 accounts as filed with the Charity Commission.
Governance: Control weakness identified: VAT reconciliations not carried out, leading to underpayment.
“During our audit, there were several documents that could not be located. This included backup for some income items (deposits and bank receipts) as well as loan documentation and property sales.”
“During our testing, we found no evidence of authorisation of credit card expenditure. This could mean that unauthorised expenditure will be incurred.”
Per its FY2024 accounts as filed with the Charity Commission.
Governance: Control weakness identified: Delays in posting transactions due to staff shortages.
“During our audit, there were several documents that could not be located. This included backup for some income items (deposits and bank receipts) as well as loan documentation and property sales.”
“During our testing, we found no evidence of authorisation of credit card expenditure. This could mean that unauthorised expenditure will be incurred.”
Per its FY2024 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 31/12/2024)
Total income
£3.3m
Total spending
£3.0m
Reserves (reported)
£0
Employees
48
Register events
- Received assets from another charity (23/08/2022)
Trustees
- Frank William Mulgrew
- John Hugh Davies
- Lauretta Pilch
- Paul Raynes
- Rev Paul Keane
- Right Rev. Alen Stephen Hopes
- Right Rev. Peter Gwilym Collins
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £3.3m | £3.0m |
| 31/12/2023 | £2.3m | £2.8m |
| 31/12/2022 | £2.1m | £2.7m |
| 31/12/2021 | £1.9m | £2.1m |
| 31/12/2020 | £4.2m | £2.0m |
Common questions
Is WALSINGHAM TRUST financially healthy?
Per its FY2024 accounts: The accounts state that the charity made a deficit of £137,991 on general funds, reducing free reserves (unrestricted funds less fixed assets) to a negative £644,771. The auditors note that while going concern is currently supported by post-year-end cash flow improvements, further deficits could significantly weaken the charity's financial position. Its FY2024 accounts were audited.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 26/03/2024 | £10k | "A historic look at our Shrine of Our Lady" |
Funders of similar charities
Charities like this
- WALSINGHAM COLLEGE (YORKSHIRE PROPERTIES) LTD
- WALSINGHAM CARE
- THE WALSINGHAM COLLEGE TRUST ASSOCIATION LTD
- CULHAM CHAPEL TRUST
- THE GUILD OF OUR LADY OF RANSOM
- TRUST PROPERTY IN CONNECTION WITH WALMSLEY UNITARIAN CHAPEL
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| WALSINGHAM TRUST | £3.3m | — | — | unclear | — | no doubt |
| WALSINGHAM COLLEGE (YORKSHIRE PROPERTIES) LTD | £225k | — | 0 | unclear | — | no doubt |
| WALSINGHAM CARE | £523k | — | 0 | above | — | no doubt |
| THE WALSINGHAM COLLEGE TRUST ASSOCIATION LTD | £3.6m | — | 0 | above | — | no doubt |
| CULHAM CHAPEL TRUST | £356k | — | 0 | unclear | — | no doubt |
| THE GUILD OF OUR LADY OF RANSOM | £622k | — | 0 | unclear | — | no doubt |