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BUCKFAST ABBEY TRUST (HELD ICW THE RELIGIOUS COMMUNITY OF BENEDICTINE MONKS ESTABLISHED AT ST MARYS ABBEY BUCKFAST, DEVON)

Registered charity 232497 · accounts filings on the Charity Commission register

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Latest income
£11.9m
Latest spending
£12.7m
Registered
1964
Accounts read
FY2022

Financial health, per its FY2022 accounts

The accounts state that the charity reported a net expenditure of £2,985,975 for the year ended 31 October 2022, driven by significant net losses on investments of £2,566,383. Despite this loss, the trustees describe the financial position as sound, supported by substantial investment reserves and a trading subsidiary that generated £1,078,697 in Gift Aid.

What the accounts disclose

Reserves policy: retain some of its surplus income as reserves... necessary in order to secure the future ability of the Charity to support the religious community at Buckfast, and to maintain and improve the buildings and plant (held: £65.5m)
“The Trustees consider that the long-term nature of the Trust's charitable objectives requires that it retain some of its surplus income as reserves. These reserves are necessary in order to secure the future ability of the Charity to support the religious community at Buckfast, and to maintain and improve the buildings and plant that make up the Buckfast Abbey Precinct.” — page 7
Per its FY2022 accounts as filed with the Charity Commission.

Accounts audited by PKF Francis Clark. Discloses 4 of 6 completeness components.

Structured financials (annual return, FY ending 31/10/2024)

Total income
£11.9m
Total spending
£12.7m
Cost of raising funds
£7.4m
Reserves (reported)
£51.3m
Employees
150

Reported reserves equal ~48.5 months of spending — in the top quarter for charities its size (median 4.6 months; benchmarks).

Trustees

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

Operates in: Devon

Income and spending

Financial year endIncomeSpending
31/10/2024£11.9m£12.7m
31/10/2023£11.1m£12.4m
31/10/2022£10.5m£10.9m
31/10/2021£10.0m£10.0m
31/10/2020£10.4m£9.9m

Common questions

Is BUCKFAST ABBEY TRUST (HELD ICW THE RELIGIOUS COMMUNITY OF BENEDICTINE MONKS ESTABLISHED AT ST MARYS ABBEY BUCKFAST, DEVON) financially healthy?

The accounts state that the charity reported a net expenditure of £2,985,975 for the year ended 31 October 2022, driven by significant net losses on investments of £2,566,383. Despite this loss, the trustees describe the financial position as sound, supported by substantial investment reserves and a trading subsidiary that generated £1,078,697 in Gift Aid. Its FY2022 accounts were audited by PKF Francis Clark.