Monastery charity doubles its profits
THE Monastery Manchester is set to embark on the second phase of a £3m project called ‘Sharing the Story’as it celebrates the doubling of its profits to £119,000 – its fifth consecutive year of recording a surplus.
The Monastery is a subsidiary of The Monastery of St Francis & Gorton Trust, a registered charity which has created the community facility as well as a commercial events venue in east Manchester.
It won the Pride Award, recognising community commitment and social responsibility, at the North West Business Masters 2015.
After the Sharing the Story work is complete, the facility will ba accessible to the public every day and there will be a new carbon neutral Welcome Wing which will house a permanent education and community facility when it opens in 2017.
Chairman of the Trust Paul Griffiths said: “We have come a long way since the Trust bought the abandoned buildings for a pound in 1996 in order to save and restore them. In less than two decades we find ourselves on the verge of fulfilling long held ambitions.
“The charity is operating in a consistent and sustainable manner and in keeping with our overall objective, to be the guardian of the buildings and preserve them for future generations to enjoy.
“It is especially pleasing that the charity’s wholly-owned subsidiary, The Monastery Manchester Ltd reported record profits, more than double the previous year.
“In the context of a demanding and dynamic market, and increased quality competition from new and existing event venues in and around Greater Manchester, the results provide encouragement for the future.”
Consolidated turnover of £1.4m remained constant from the same level in 2013.
