## 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:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. 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:
1. that accounting records were not kept as required by section 130 of the Act; or
2. that the accounts do not accord with those records; or
3. that the accounts do not comply with the accounting requirements of the Act; or
4. 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