FAST CHAIRMAN’S REPORT 2020
The Farnborough Air Sciences Trust ended 2019 after a highly successful year with visitor numbers to the museum continuing to increase in line with continuing publicity and growing exposure through special events, media coverage, hosting activities and regular lectures and educational projects. Income generation from museum shop sales was increased through on-line promotion via the museum website and advertising in specialist heritage magazines. The pavilion facilities attracted use for private and company functions, another source of income. Public pre-booked tours of the centrifuge and wind tunnel buildings, operated by FAST volunteers, proved to be highly popular and involved additional displays and presentations. The programmes for archiving and digitizing reports, records, films and images has continued with special equipment being bought or donated as required. Nearly all of this is held and safeguarded on behalf of official organisations keen to concentrate this important information in the established and accredited FAST museum.
Towards the end of 2019 there was an increased focus on a new heritage consultation project, funded by Rushmoor Borough Council, to investigate the potential for an expanded local effort to further exploit the wider Farnborough aviation heritage story, bringing together several local stakeholders. The Trust prepared for discussions with the consultancy team explaining its present activities and facilities and also outlining possible options for future museum developments.
In March 2020 a major special event was held at the museum in cooperation with private companies and the UK Space Agency as part of a new national space programme initiative. The event attracted national media coverage and centred on the new display of a unique exhibit, the first stage launcher of Britain’s first satellite launcher, Black Arrow. The intention was to use this, in conjunction with local educational bodies, as a highly significant and high-profile display to attract interest from students and young people in space technologies and appropriate to STEM studies. Plans were advancing well when the Covid-19 outbreak became a national emergency a few days later and the museum building was closed to the public. It remained closed for the rest of 2020 and into 2021.
Initially a small number of volunteers were able to continue on a very restricted number of administrative and conservation activities compliant with the official guidelines. As restrictions were eased it became possible to resume a very limited number of pre-booked tours to the centrifuge building in small numbers, but with further lock-downs this was no longer possible. The main museum remained closed, with zero income, and the Trust applied for, and received, compensation grants under the appropriate government schemes to aid museums and cultural organisations. No regular volunteer activity was possible since closure and all projects that could not be progressed by working from home were suspended, with communication to teams via zoom virtual meetings.
Projects to work jointly with the staff and students of the local College of Technology to encourage apprentices by allowing them access to aeronautical hardware were initiated but later put on hold as the college had to close. FAST is working closely with other members of the Hampshire Military Museums Network and Hampshire Cultural Trust exchanging experiences and discussing matters of mutual interest during this unprecedented period of shut-down. All future projects for museum upgrades and new buildings continue to be studied but remain in hibernation while the emergency demands a national response. Before the lock-downs some changes and improvements were made to the museum layout to make it compatible with Covid safety guidelines and to ease the eventual re-opening task.
Richard Gardner MCIPR, MRAeS
Chairman February 2021
REGISTERED CHARITY NUMBER: 1040199
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2020 for Farnborough Air Sciences Trust
Graham Best & Co 189 Lynchford Road Farnborough Hampshire GU14 6HD
Farnborough Air Sciences Trust
Contents of the Financial Statements for the Year Ended 31 July 2020
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 to 10 |
Farnborough Air Sciences Trust
Report of the Trustees for the Year Ended 31 July 2020
The trustees present their report with the financial statements of the charity for the year ended 31 July 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1040199
Principal address
Trenchard House 85 Farnborough Road Farnborough Hampshire GU14 6TF
Trustees
R Gardner Chairman L Peskett Dr G M Rood Secretary B Luff Museum Curator D F M Gordon D Wilson Sir Donald Spiers Vice Chairman M J Hordley P O Buckroyd C F Fidler - resigned 14.9.19 A Lloyd
Independent examiner
Graham Best & Co FCA Graham Best & Co 189 Lynchford Road Farnborough Hampshire GU14 6HD
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Related parties
Ten of the Trustees of the Charity are each the holder of 10 shares in Trenchard Trading Limited a retail trading company.
A number of the Charity Trustees are directors of the company.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 18 March 2021 and signed on its behalf by:
R Gardner - Trustee
Page 1
Independent Examiner's Report to the Trustees of Farnborough Air Sciences Trust
I report on the accounts for the year ended 31 July 2020, which are set out on pages three to eight.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Graham Best & Co FCA Graham Best & Co 189 Lynchford Road Farnborough Hampshire GU14 6HD
Date: .............................................
Page 2
Farnborough Air Sciences Trust
Statement of Financial Activities for the Year Ended 31 July 2020
| Unrestricted Restricted funds funds Notes £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 64,287 - Activities for generating funds 2 18,427 - Investment income 3 237 - Total incoming resources 82,951 - RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 4 86,768 - Governance costs 18,695 - Total resources expended 105,463 - NET INCOMING/(OUTGOING) RESOURCES (22,512) - RECONCILIATION OF FUNDS Total funds brought forward 333,126 - TOTAL FUNDS CARRIED FORWARD 310,614 - |
31.7.20 Total funds £ 64,287 18,427 237 82,951 86,768 18,695 105,463 (22,512) 333,126 310,614 |
31.7.19 Total funds £ 133,485 32,741 38 |
|---|---|---|
| 166,264 81,466 24,702 |
||
| 106,168 | ||
| 60,096 273,030 |
||
| 333,126 |
The notes form part of these financial statements
Page 3
Farnborough Air Sciences Trust
Balance Sheet At 31 July 2020
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 6 54,794 - Heritage assets 7 34,350 - Investments 8 14,273 - 103,417 - CURRENT ASSETS Debtors 9 - - Cash at bank and in hand 209,246 - 209,246 - CREDITORS Amounts falling due within one year 10 (2,049) - NET CURRENT ASSETS 207,197 - TOTAL ASSETS LESS CURRENT LIABILITIES 310,614 - NET ASSETS 310,614 - FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.7.20 Total funds £ 54,794 34,350 14,273 103,417 - 209,246 209,246 (2,049) 207,197 310,614 310,614 310,614 310,614 |
31.7.19 Total funds £ 57,532 47,534 14,273 119,339 13,695 200,835 214,530 (743) 213,787 333,126 333,126 333,126 333,126 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 18 March 2021 and were signed on its behalf by:
R Gardner -Trustee
The notes form part of these financial statements
Page 4
Farnborough Air Sciences Trust
Notes to the Financial Statements for the Year Ended 31 July 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
The Jaguar Building - in accordance with the property The Cody Pavilion - 25% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
| Archive/Photo sales Tours Social Raffle INVESTMENT INCOME Deposit account interest |
31.7.20 £ 1,268 16,811 - 348 18,427 31.7.20 £ 237 |
31.7.19 £ 3,870 27,791 621 459 |
|---|---|---|
| 32,741 | ||
| 31.7.19 £ 38 |
3. INVESTMENT INCOME
Page 5
Farnborough Air Sciences Trust
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
4. COSTS OF GENERATING VOLUNTARY INCOME
| 31.7.20 | 31.7.19 | |
|---|---|---|
| £ | £ | |
| Support costs | 86,768 | 81,466 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019 .
6. TANGIBLE FIXED ASSETS
| The Jaguar The Cody Building Pavilion £ £ COST At 1 August 2019 and 31 July 2020 81,966 61,750 DEPRECIATION At 1 August 2019 24,434 61,750 Charge for year 2,738 - At 31 July 2020 27,172 61,750 NET BOOK VALUE At 31 July 2020 54,794 - At 31 July 2019 57,532 - 7. HERITAGE ASSETS MARKET VALUE At 1 August 2019 and 31 July 2020 PROVISIONS At 1 August 2019 Charge for year At 31 July 2020 NET BOOK VALUE At 31 July 2020 At 31 July 2019 |
Totals £ 143,716 |
|---|---|
| 86,184 2,738 |
|
| 88,922 | |
| 54,794 | |
| 57,532 | |
| Total £ 159,582 |
|
| 112,048 13,184 |
|
| 125,232 | |
| 34,350 | |
| 47,534 |
Page 6
Farnborough Air Sciences Trust
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
| 8. | FIXED ASSET INVESTMENTS | |||
|---|---|---|---|---|
| 31.7.20 | 31.7.19 | |||
| £ | £ | |||
| Loans | 14,273 | 14,273 | ||
| Loans to | ||||
| group | ||||
| undertakings | ||||
| £ | ||||
| At 1 August 2019 and 31 July 2020 | 14,273 | |||
| There were no investment assets outside the UK. | ||||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.7.20 | 31.7.19 | |||
| £ | £ | |||
| Other debtors | - | 13,695 | ||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.7.20 | 31.7.19 | |||
| £ | £ | |||
| Other creditors | 2,049 | 743 | ||
| 11. | MOVEMENT IN FUNDS | |||
| Net movement | ||||
| At 1.8.19 | in funds | At 31.7.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 333,126 | (22,512) | 310,614 | |
| TOTAL FUNDS | 333,126 | (22,512) | 310,614 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 82,951 | (105,463) | (22,512) | |
| TOTAL FUNDS | 82,951 | (105,463) | (22,512) |
Page 7
Farnborough Air Sciences Trust
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net movement | |||
| At 1.8.18 | in funds | At 31.7.19 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 273,030 | 60,096 | 333,126 |
| TOTAL FUNDS | 273,030 | 60,096 | 333,126 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 166,264 | (106,168) | 60,096 |
| TOTAL FUNDS | 166,264 | (106,168) | 60,096 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement | |||
|---|---|---|---|
| At 1.8.18 | in funds | At 31.7.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 273,030 | 37,584 | 310,614 |
| TOTAL FUNDS | 273,030 | 37,584 | 310,614 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 249,215 | (211,631) | 37,584 |
| TOTAL FUNDS | 249,215 | (211,631) | 37,584 |
Page 8
Farnborough Air Sciences Trust
Detailed Statement of Financial Activities for the Year Ended 31 July 2020
| INCOMING RESOURCES Voluntary income Donations Gift aid Grants Subscriptions Activities for generating funds Archive/Photo sales Tours Social Raffle Investment income Deposit account interest Total incoming resources RESOURCES EXPENDED Governance costs Accountancy Professional fees Short leasehold Heritage asset 1 Heritage asset 2 Support costs Management Rent - Centrifuge Insurance Light and heat Postage and stationery Sundries Bricks Waste Security Printing Cleaning IT Visits/Tours Advertising Office Costs Carried forward |
31.7.20 £ 20,992 19,665 11,000 12,630 64,287 1,268 16,811 - 348 18,427 237 82,951 823 1,950 2,738 - 13,184 18,695 30,000 2,063 7,995 2,911 1,128 89 976 2,600 4,123 2,899 1,484 1,290 540 2,707 60,805 |
31.7.19 £ 112,873 8,820 - 11,792 |
|---|---|---|
| 133,485 3,870 27,791 621 459 |
||
| 32,741 38 |
||
| 166,264 747 7,483 2,738 550 13,184 |
||
| 24,702 - 2,888 10,840 4,409 1,718 139 1,293 335 14,729 4,207 875 1,184 1,375 2,330 46,322 |
This page does not form part of the statutory financial statements
Page 9
Farnborough Air Sciences Trust
Detailed Statement of Financial Activities
for the Year Ended 31 July 2020
| Management Brought forward Museum Displays Museum Maintenance FASTA talks Library Costs Workshop Finance Paypal Fees Credit Card Charges Total resources expended Net (expenditure)/income |
31.7.20 £ 60,805 12,910 4,287 1,200 5,177 323 84,702 1,617 449 2,066 105,463 (22,512) |
31.7.19 £ 46,322 6,312 9,052 1,113 8,792 7,326 |
|---|---|---|
| 78,917 1,772 777 |
||
| 2,549 | ||
| 106,168 | ||
| 60,096 |
This page does not form part of the statutory financial statements
Page 10
REGISTERED CHARITY NUMBER: 1040199
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2020 for Farnborough Air Sciences Trust
Graham Best & Co 189 Lynchford Road Farnborough Hampshire GU14 6HD
Farnborough Air Sciences Trust
Contents of the Financial Statements for the Year Ended 31 July 2020
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 to 8 |
| Detailed Statement of Financial Activities | 9 to 10 |
Farnborough Air Sciences Trust
Report of the Trustees for the Year Ended 31 July 2020
The trustees present their report with the financial statements of the charity for the year ended 31 July 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1040199
Principal address
Trenchard House 85 Farnborough Road Farnborough Hampshire GU14 6TF
Trustees
R Gardner Chairman L Peskett Dr G M Rood Secretary B Luff Museum Curator D F M Gordon D Wilson Sir Donald Spiers Vice Chairman M J Hordley P O Buckroyd C F Fidler - resigned 14.9.19 A Lloyd
Independent examiner
Graham Best & Co FCA Graham Best & Co 189 Lynchford Road Farnborough Hampshire GU14 6HD
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Related parties
Ten of the Trustees of the Charity are each the holder of 10 shares in Trenchard Trading Limited a retail trading company.
A number of the Charity Trustees are directors of the company.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on 18 March 2021 and signed on its behalf by:
R Gardner - Trustee
Page 1
Independent Examiner's Report to the Trustees of Farnborough Air Sciences Trust
I report on the accounts for the year ended 31 July 2020, which are set out on pages three to eight.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Graham Best & Co FCA Graham Best & Co 189 Lynchford Road Farnborough Hampshire GU14 6HD
Date: .............................................
Page 2
Farnborough Air Sciences Trust
Statement of Financial Activities for the Year Ended 31 July 2020
| Unrestricted Restricted funds funds Notes £ £ INCOMING RESOURCES Incoming resources from generated funds Voluntary income 64,287 - Activities for generating funds 2 18,427 - Investment income 3 237 - Total incoming resources 82,951 - RESOURCES EXPENDED Costs of generating funds Costs of generating voluntary income 4 86,768 - Governance costs 18,695 - Total resources expended 105,463 - NET INCOMING/(OUTGOING) RESOURCES (22,512) - RECONCILIATION OF FUNDS Total funds brought forward 333,126 - TOTAL FUNDS CARRIED FORWARD 310,614 - |
31.7.20 Total funds £ 64,287 18,427 237 82,951 86,768 18,695 105,463 (22,512) 333,126 310,614 |
31.7.19 Total funds £ 133,485 32,741 38 |
|---|---|---|
| 166,264 81,466 24,702 |
||
| 106,168 | ||
| 60,096 273,030 |
||
| 333,126 |
The notes form part of these financial statements
Page 3
Farnborough Air Sciences Trust
Balance Sheet At 31 July 2020
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 6 54,794 - Heritage assets 7 34,350 - Investments 8 14,273 - 103,417 - CURRENT ASSETS Debtors 9 - - Cash at bank and in hand 209,246 - 209,246 - CREDITORS Amounts falling due within one year 10 (2,049) - NET CURRENT ASSETS 207,197 - TOTAL ASSETS LESS CURRENT LIABILITIES 310,614 - NET ASSETS 310,614 - FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.7.20 Total funds £ 54,794 34,350 14,273 103,417 - 209,246 209,246 (2,049) 207,197 310,614 310,614 310,614 310,614 |
31.7.19 Total funds £ 57,532 47,534 14,273 119,339 13,695 200,835 214,530 (743) 213,787 333,126 333,126 333,126 333,126 |
|---|---|---|
The financial statements were approved by the Board of Trustees on 18 March 2021 and were signed on its behalf by:
R Gardner -Trustee
The notes form part of these financial statements
Page 4
Farnborough Air Sciences Trust
Notes to the Financial Statements for the Year Ended 31 July 2020
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
The Jaguar Building - in accordance with the property The Cody Pavilion - 25% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. ACTIVITIES FOR GENERATING FUNDS
| Archive/Photo sales Tours Social Raffle INVESTMENT INCOME Deposit account interest |
31.7.20 £ 1,268 16,811 - 348 18,427 31.7.20 £ 237 |
31.7.19 £ 3,870 27,791 621 459 |
|---|---|---|
| 32,741 | ||
| 31.7.19 £ 38 |
3. INVESTMENT INCOME
Page 5
Farnborough Air Sciences Trust
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
4. COSTS OF GENERATING VOLUNTARY INCOME
| 31.7.20 | 31.7.19 | |
|---|---|---|
| £ | £ | |
| Support costs | 86,768 | 81,466 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019 .
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019 .
6. TANGIBLE FIXED ASSETS
| The Jaguar The Cody Building Pavilion £ £ COST At 1 August 2019 and 31 July 2020 81,966 61,750 DEPRECIATION At 1 August 2019 24,434 61,750 Charge for year 2,738 - At 31 July 2020 27,172 61,750 NET BOOK VALUE At 31 July 2020 54,794 - At 31 July 2019 57,532 - 7. HERITAGE ASSETS MARKET VALUE At 1 August 2019 and 31 July 2020 PROVISIONS At 1 August 2019 Charge for year At 31 July 2020 NET BOOK VALUE At 31 July 2020 At 31 July 2019 |
Totals £ 143,716 |
|---|---|
| 86,184 2,738 |
|
| 88,922 | |
| 54,794 | |
| 57,532 | |
| Total £ 159,582 |
|
| 112,048 13,184 |
|
| 125,232 | |
| 34,350 | |
| 47,534 |
Page 6
Farnborough Air Sciences Trust
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
| 8. | FIXED ASSET INVESTMENTS | |||
|---|---|---|---|---|
| 31.7.20 | 31.7.19 | |||
| £ | £ | |||
| Loans | 14,273 | 14,273 | ||
| Loans to | ||||
| group | ||||
| undertakings | ||||
| £ | ||||
| At 1 August 2019 and 31 July 2020 | 14,273 | |||
| There were no investment assets outside the UK. | ||||
| 9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.7.20 | 31.7.19 | |||
| £ | £ | |||
| Other debtors | - | 13,695 | ||
| 10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.7.20 | 31.7.19 | |||
| £ | £ | |||
| Other creditors | 2,049 | 743 | ||
| 11. | MOVEMENT IN FUNDS | |||
| Net movement | ||||
| At 1.8.19 | in funds | At 31.7.20 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 333,126 | (22,512) | 310,614 | |
| TOTAL FUNDS | 333,126 | (22,512) | 310,614 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement in | ||
| resources | expended | funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 82,951 | (105,463) | (22,512) | |
| TOTAL FUNDS | 82,951 | (105,463) | (22,512) |
Page 7
Farnborough Air Sciences Trust
Notes to the Financial Statements - continued for the Year Ended 31 July 2020
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Comparatives for movement in funds | |||
|---|---|---|---|
| Net movement | |||
| At 1.8.18 | in funds | At 31.7.19 | |
| £ | £ | £ | |
| Unrestricted Funds | |||
| General fund | 273,030 | 60,096 | 333,126 |
| TOTAL FUNDS | 273,030 | 60,096 | 333,126 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement in | |
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 166,264 | (106,168) | 60,096 |
| TOTAL FUNDS | 166,264 | (106,168) | 60,096 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement | |||
|---|---|---|---|
| At 1.8.18 | in funds | At 31.7.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 273,030 | 37,584 | 310,614 |
| TOTAL FUNDS | 273,030 | 37,584 | 310,614 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement in | |
|---|---|---|---|
| resources | expended | funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 249,215 | (211,631) | 37,584 |
| TOTAL FUNDS | 249,215 | (211,631) | 37,584 |
Page 8
Farnborough Air Sciences Trust
Detailed Statement of Financial Activities for the Year Ended 31 July 2020
| INCOMING RESOURCES Voluntary income Donations Gift aid Grants Subscriptions Activities for generating funds Archive/Photo sales Tours Social Raffle Investment income Deposit account interest Total incoming resources RESOURCES EXPENDED Governance costs Accountancy Professional fees Short leasehold Heritage asset 1 Heritage asset 2 Support costs Management Rent - Centrifuge Insurance Light and heat Postage and stationery Sundries Bricks Waste Security Printing Cleaning IT Visits/Tours Advertising Office Costs Carried forward |
31.7.20 £ 20,992 19,665 11,000 12,630 64,287 1,268 16,811 - 348 18,427 237 82,951 823 1,950 2,738 - 13,184 18,695 30,000 2,063 7,995 2,911 1,128 89 976 2,600 4,123 2,899 1,484 1,290 540 2,707 60,805 |
31.7.19 £ 112,873 8,820 - 11,792 |
|---|---|---|
| 133,485 3,870 27,791 621 459 |
||
| 32,741 38 |
||
| 166,264 747 7,483 2,738 550 13,184 |
||
| 24,702 - 2,888 10,840 4,409 1,718 139 1,293 335 14,729 4,207 875 1,184 1,375 2,330 46,322 |
This page does not form part of the statutory financial statements
Page 9
Farnborough Air Sciences Trust
Detailed Statement of Financial Activities
for the Year Ended 31 July 2020
| Management Brought forward Museum Displays Museum Maintenance FASTA talks Library Costs Workshop Finance Paypal Fees Credit Card Charges Total resources expended Net (expenditure)/income |
31.7.20 £ 60,805 12,910 4,287 1,200 5,177 323 84,702 1,617 449 2,066 105,463 (22,512) |
31.7.19 £ 46,322 6,312 9,052 1,113 8,792 7,326 |
|---|---|---|
| 78,917 1,772 777 |
||
| 2,549 | ||
| 106,168 | ||
| 60,096 |
This page does not form part of the statutory financial statements
Page 10