ST MICHAEL'S ABBEY CHARITABLE TRUST
Latest income
£1.6m
Latest spending
£1.8m
Registered
1982
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that free reserves are negative £96,283, which is below the trustees' policy target of sufficient funds to meet annual expenditure on community care and support costs. Despite this deficit, the trustees assert that funds will be available to meet future obligations, supported by expected cost savings and the completion of major restoration works.
What the accounts disclose
Reserves position: below the charity's own stated reserves policy
“Whilst this is below the reserves policy, the trustees foresee that funds will be available to meet obligations in the future.” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Donations received from St Mary’s Priory Fernham Residual Fund
“During the year, donations were received from St Mary’s Priory Fernham Residual Fund totaling £1,253,380 (2023 – 1,072,392) for the ongoing works on the estate, of which £21,787 (2023 £273,083) had been awarded but had not been remitted to the charity as at the year end.” — page 19
“Included within debtors is £65,746 (2023 - £52,691) due from Empress Eugenie Memorial Trust relating to expenses incurred by Empress Eugenie Memorial Trust that were covered by St Michael’s Abbey Charitable Trust.” — page 18
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Amounts due from Empress Eugenie Memorial Trust
“During the year, donations were received from St Mary’s Priory Fernham Residual Fund totaling £1,253,380 (2023 – 1,072,392) for the ongoing works on the estate, of which £21,787 (2023 £273,083) had been awarded but had not been remitted to the charity as at the year end.” — page 19
“Included within debtors is £65,746 (2023 - £52,691) due from Empress Eugenie Memorial Trust relating to expenses incurred by Empress Eugenie Memorial Trust that were covered by St Michael’s Abbey Charitable Trust.” — page 18
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Amounts due to Saint Michael’s Abbey Press Limited
“During the year, donations were received from St Mary’s Priory Fernham Residual Fund totaling £1,253,380 (2023 – 1,072,392) for the ongoing works on the estate, of which £21,787 (2023 £273,083) had been awarded but had not been remitted to the charity as at the year end.” — page 19
“Included within debtors is £65,746 (2023 - £52,691) due from Empress Eugenie Memorial Trust relating to expenses incurred by Empress Eugenie Memorial Trust that were covered by St Michael’s Abbey Charitable Trust.” — page 18
Per its FY2024 accounts as filed with the Charity Commission.
Governance: The Trustees much regret the uncharacteristic late filing of the annual accounts and report.
“The Trustees much regret the uncharacteristic late filing of the annual accounts and report. The resignation due to health and personal circumstances of the trusts' bookkeeper much delayed the preparation of the annual accounts.” — page 5
Per its FY2024 accounts as filed with the Charity Commission.
Trading subsidiary: Saint Michael’s Abbey Press Limited
“St Michael’s Abbey Charitable Trust is related to the Empress Eugenie Memorial Trust, Saint Michael’s Abbey Press Limited and St Mary’s Priory Fernham Residual Fund. They share the same contact address as disclosed on page 1 of these accounts and have a number of trustees in common. The Empress Eugenie Memorial Trust and Saint Michael’s Abbey Press Limited are part of the same group.” — page 18
Per its FY2024 accounts as filed with the Charity Commission.
Structured financials (annual return, FY ending 31/12/2024)
Total income
£1.6m
Total spending
£1.8m
Cost of raising funds
£2k
Reserves (reported)
£0
Employees
0
Trustees
- Right Rev Dom David Cuthbert Brogan OSBchair
- REV Nicholas Thomas Harper OSB
- Rev Dom Stanislaus Demetrius Mycka
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £1.6m | £1.8m |
| 31/12/2023 | £2.0m | £2.9m |
| 31/12/2022 | £879k | £1.4m |
| 31/12/2021 | £986k | £538k |
| 31/12/2020 | £239k | £221k |
Common questions
Is ST MICHAEL'S ABBEY CHARITABLE TRUST financially healthy?
The accounts state that free reserves are negative £96,283, which is below the trustees' policy target of sufficient funds to meet annual expenditure on community care and support costs. Despite this deficit, the trustees assert that funds will be available to meet future obligations, supported by expected cost savings and the completion of major restoration works. Its FY2024 accounts were audited by Buzzacott Audit LLP.