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ST MARY'S PRIORY FERNHAM RESIDUAL FUND

Registered charity 229393 · accounts filings on the Charity Commission register · also known as (THE COMMUNITY OF) BENEDICTINE NUNS AT ST MARY'S PRIORY, ST MARY'S PRIORY, ST MARYS PRIORY

Latest income
£140k
Latest spending
£1.4m
Registered
1963
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the charity reported a net decrease in funds of £978,279 for the year ended 31 December 2024, driven by charitable expenditure exceeding investment income. Per the trustees' report, unrestricted reserves stood at £4,327,083, which the trustees consider sufficient to meet future liabilities and cover core costs. The auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified.

What the accounts disclose

Reserves policy: sufficient to generate sufficient income to meet annual expenditure after accounting for investment gains (held: £4.3m)
“The trustees consider that, given the nature of the charity’s work, the level of free reserves should be sufficient to generate sufficient income to meet annual expenditure after accounting for investment gains.” — page 8
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Grant paid to Abbot Visitor for general expenses.
“In addition to these grants towards the Abbot Visitor’s related parties, a grant towards the Abbot Visitor’s general expenses, to advance his work, was made for £10,000 (2023 – £nil).” — page 25
“A grant of £2,298, included within the grants to Saint Michael’s Abbey Trust, was awarded towards the Latin Studies of Dom Stanislaus Mycka.” — page 25
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Grant paid towards Latin Studies of Dom Stanislaus Mycka, a trustee.
“In addition to these grants towards the Abbot Visitor’s related parties, a grant towards the Abbot Visitor’s general expenses, to advance his work, was made for £10,000 (2023 – £nil).” — page 25
“A grant of £2,298, included within the grants to Saint Michael’s Abbey Trust, was awarded towards the Latin Studies of Dom Stanislaus Mycka.” — page 25
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by Buzzacott Audit LLP.

Structured financials (annual return, FY ending 31/12/2022)

Total income
£516k
Total spending
£2.5m
Cost of raising funds
£48k
Reserves (reported)
£6.2m
Employees
0

Reported reserves equal ~29.3 months of spending — in the top quarter for charities its size (median 7.0 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: India · Scotland · Throughout England And Wales · United States

Income and spending

Financial year endIncomeSpending
31/12/2024£140k£1.4m
31/12/2023£204k£1.5m
31/12/2022£516k£2.5m
31/12/2021£268k£1.2m
31/12/2020£235k£733k

Common questions

Is ST MARY'S PRIORY FERNHAM RESIDUAL FUND financially healthy?

The accounts state that the charity reported a net decrease in funds of £978,279 for the year ended 31 December 2024, driven by charitable expenditure exceeding investment income. Per the trustees' report, unrestricted reserves stood at £4,327,083, which the trustees consider sufficient to meet future liabilities and cover core costs. The auditor confirmed that the use of the going concern basis of accounting is appropriate with no material uncertainties identified. Its FY2024 accounts were audited by Buzzacott Audit LLP.

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