Chairman’s Report 2020-21 Farnborough Air Sciences Trust The Covid pandemic, with its government enforced lock-downs resulted in closure to the public of the FAST Museum for most of the reporting period, until re-opening in July 2021. Essential administration and museum maintenance continued with limited access for selected volunteers following official guidelines. Much archiving and project development work continued, with some home working where appropriate and practical. The loss of visitor income was largely offset by donations, grants and various fund-raising activities by volunteers. Where conditions allowed within the access constraints, opportunities were exploited to improve and renew new exhibits and displays in anticipation of an eventual full reopening. After the July reopening visitor numbers began to build up again and publicity efforts encouraged more first-time as well as return visitors, from all over the country. A limited number of group tours also resumed, including school party visits later in the year. This helped contribute to income generation, though investment in various maintenance tasks and equipment purchases, the latter to enhance archiving, artefact storage and new displays, largely cancelled out regular income. Receipt of generous legacy donations helped sustain a healthy reserve. This will be required in part to meet future expenditure on strategic projects required to sustain the museum in the future. The period closed with positive signs of recovery during a challenging period. Close co-operation with Rushmoor Borough Council (RBC), Hampshire Cultural Trust and other Hampshire-based museums saw many visits as a part of FAST’s on-going membership of the Hampshire Military Museums Network. The current RBC local community regeneration programme, supported by the government, has resulted in many consultations with local planning officials to assist them in their desire to involve FAST as part of a wider project to expand and enhance the overall visitor appeal of sites that exploit Farnborough’s unique aviation history, scientific achievements, and the museum’s role in safeguarding key records, assets and educational capabilities. Richard Gardner MCIPR, MRAeS Chairman Farnborough Air Sciences Trust May 2022 **REGISTERED CHARITY NUMBER: 1040199** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2021 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 2021** ||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 9| |Detailed Statement of Financial Activities|10 to 11| ## **Farnborough Air Sciences Trust** ## **Report of the Trustees for the Year Ended 31 July 2021** The trustees present their report with the financial statements of the charity for the year ended 31 July 2021. 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 L Peskett Dr G M Rood B Luff D F M Gordon D Wilson Sir Donald Spiers M J Hordley P O Buckroyd A Lloyd Mrs S L Adcock Chairman Secretary Museum Curator Vice Chairman - appointed 8.2.21 ## **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 October 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 2021, which are set out on pages three to nine. ## **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 2021** |Unrestricted
funds Restricted funds
Notes
£
£
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
112,379
-
Activities for generating funds
2
7,985
-
Investment income
3
16
-
**Total incoming resources**
120,380
-
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
4
55,857
-
**Governance costs**
19,322
-
**Total resources expended**
75,179
-
**NET INCOMING/(OUTGOING) RESOURCES**
45,201
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
310,614
-
**TOTAL FUNDS CARRIED FORWARD**
355,815
-|31.7.21
Total
funds
£
112,379
7,985
16
120,380
55,857
19,322
75,179
45,201
310,614
355,815|31.7.20
Total
funds
£
64,287
18,427
237
82,951
86,768
18,695
105,463
(22,512)
333,126
310,614| |---|---|---| The notes form part of these financial statements Page 3 ## **Farnborough Air Sciences Trust** ## **Balance Sheet At 31 July 2021** |Unrestricted
funds Restricted funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
6
68,410
-
Heritage assets
7
21,166
-
Investments
8
14,273
-
103,849
-
**CURRENT ASSETS**
Cash at bank and in hand
256,120
-
**CREDITORS**
Amounts falling due within one year
9
(4,154)
-
**NET CURRENT ASSETS**
251,966
-
**TOTAL ASSETS LESS CURRENT LIABILITIES**
355,815
-
**NET ASSETS**
355,815
-
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|31.7.21
Total
funds
£
68,410
21,166
14,273
103,849
256,120
(4,154)
251,966
355,815
355,815
355,815
355,815|31.7.20
Total
funds
£
54,794
34,350
14,273
103,417
209,246
(2,049)
207,197
310,614
310,614
310,614
310,614| |---|---|---| The financial statements were approved by the Board of Trustees on 18 October 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 2021** ## **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| |---|---| |Plant and machinery|- 10% on cost| |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
Raffle|31.7.21
£
3,700
4,285
-
7,985|31.7.20
£
1,268
16,811
348| |---|---|---| |||18,427| ## **3.** ## **INVESTMENT INCOME** ||31.7.21|31.7.20| |---|---|---| ||£|£| |Deposit account interest|16|237| Page 5 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **4. COSTS OF GENERATING VOLUNTARY INCOME** Support costs |31.7.21|31.7.20| |---|---| |£|£| |55,857|86,768| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020 . ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020 . ## **6.** ## **TANGIBLE FIXED ASSETS** |The Jaguar
Plant and
The Cody
Building
machinery
Pavilion
£
£
£
**COST**
At 1 August 2020
81,966
-
61,750
Additions
-
18,171
-
At 31 July 2021
81,966
18,171
61,750
**DEPRECIATION**
At 1 August 2020
27,172
-
61,750
Charge for year
2,738
1,817
-
At 31 July 2021
29,910
1,817
61,750
**NET BOOK VALUE**
At 31 July 2021
52,056
16,354
-
At 31 July 2020
54,794
-
-|Totals
£
143,716
18,171| |---|---| ||161,887| ||88,922
4,555| ||93,477| ||68,410| ||54,794| Page 6 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **7. HERITAGE ASSETS** |Total
£
**MARKET VALUE**
At 1 August 2020 and 31 July 2021
159,582
**PROVISIONS**
At 1 August 2020
125,232
Charge for year
13,184
At 31 July 2021
138,416
**NET BOOK VALUE**
At 31 July 2021
21,166
At 31 July 2020
34,350
**8.**
**FIXED ASSET INVESTMENTS**
31.7.21
31.7.20
£
£
Loans
14,273
14,273
Loans to group
undertakings
£
At 1 August 2020 and 31 July 2021
14,273
There were no investment assets outside the UK.
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.7.21
31.7.20
£
£
Other creditors
4,154
2,049
**10.**
**MOVEMENT IN FUNDS**
Net movement
At 1.8.20
in funds
At 31.7.21
£
£
£
**Unrestricted funds**
General fund
310,614
45,201
355,815
**TOTAL FUNDS**
310,614
45,201
355,815|Total
£
159,582|Total
£
159,582| |---|---|---| ||125,232
13,184|| ||138,416|| |||21,166| |||34,350| |||31.7.20
£
14,273| ||355,815|| Page 7 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **10. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement in| |---|---|---|---| ||resources|expended|funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|120,380|(75,179)|45,201| |**TOTAL FUNDS**|120,380|(75,179)|45,201| |**Comparatives for 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| ||||| |Comparative 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)| ||||| A current year 12 months and prior year 12 months combined position is as follows: |||Net movement|| |---|---|---|---| ||At 1.8.19|in funds|At 31.7.21| ||£|£|£| |**Unrestricted funds**|||| |General fund|333,126|22,689|355,815| |**TOTAL FUNDS**|333,126|22,689|355,815| Page 8 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **10. MOVEMENT IN FUNDS - continued** 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|203,331|(180,642)|22,689| |**TOTAL FUNDS**|203,331|(180,642)|22,689| Page 9 ## **Farnborough Air Sciences Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 July 2021** |**INCOMING RESOURCES**
**Voluntary income**
Donations
Gift aid
Grants
Subscriptions
**Activities for generating funds**
Archive/Photo sales
Tours
Raffle
**Investment income**
Deposit account interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Governance costs**
Accountancy
Professional fees
Short leasehold
Plant and machinery
Heritage asset 2
**Support costs**
**Management**
Rent - Centrifuge
Insurance
Light and heat
Postage and stationery
Sundries
Bricks
Waste
Security
Printing
Cleaning
IT
Carried forward|31.7.21
£
73,868
8,000
17,907
12,604
112,379
3,700
4,285
-
7,985
16
120,380
1,583
-
2,738
1,817
13,184
19,322
25,000
3,493
6,726
1,005
60
379
700
2,909
1,835
600
1,368
44,075|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
56,268| This page does not form part of the statutory financial statements Page 10 ## **Farnborough Air Sciences Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 July 2021** |**Management**
Brought forward
Visits/Tours
Advertising
Office Costs
Archive Photos
Museum Displays
Museum Maintenance
FASTA talks
Library Costs
Workshop
**Finance**
Paypal Fees
Credit Card Charges
**Total resources expended**
**Net income/(expenditure)**|31.7.21
£
44,075
-
894
1,393
135
2,746
5,271
-
856
53
55,423
51
383
434
75,179
45,201|31.7.20
£
56,268
1,290
540
2,707
-
12,910
4,287
1,200
5,177
323
84,702
1,617
449
2,066
105,463
(22,512)| |---|---|---| This page does not form part of the statutory financial statements Page 11 **REGISTERED CHARITY NUMBER: 1040199** **Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 July 2021 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 2021** ||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 9| |Detailed Statement of Financial Activities|10 to 11| ## **Farnborough Air Sciences Trust** ## **Report of the Trustees for the Year Ended 31 July 2021** The trustees present their report with the financial statements of the charity for the year ended 31 July 2021. 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 L Peskett Dr G M Rood B Luff D F M Gordon D Wilson Sir Donald Spiers M J Hordley P O Buckroyd A Lloyd Mrs S L Adcock Chairman Secretary Museum Curator Vice Chairman - appointed 8.2.21 ## **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 October 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 2021, which are set out on pages three to nine. ## **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 2021** |Unrestricted
funds Restricted funds
Notes
£
£
**INCOMING RESOURCES**
**Incoming resources from generated funds**
Voluntary income
112,379
-
Activities for generating funds
2
7,985
-
Investment income
3
16
-
**Total incoming resources**
120,380
-
**RESOURCES EXPENDED**
**Costs of generating funds**
Costs of generating voluntary income
4
55,857
-
**Governance costs**
19,322
-
**Total resources expended**
75,179
-
**NET INCOMING/(OUTGOING) RESOURCES**
45,201
-
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
310,614
-
**TOTAL FUNDS CARRIED FORWARD**
355,815
-|31.7.21
Total
funds
£
112,379
7,985
16
120,380
55,857
19,322
75,179
45,201
310,614
355,815|31.7.20
Total
funds
£
64,287
18,427
237
82,951
86,768
18,695
105,463
(22,512)
333,126
310,614| |---|---|---| The notes form part of these financial statements Page 3 ## **Farnborough Air Sciences Trust** ## **Balance Sheet At 31 July 2021** |Unrestricted
funds Restricted funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
6
68,410
-
Heritage assets
7
21,166
-
Investments
8
14,273
-
103,849
-
**CURRENT ASSETS**
Cash at bank and in hand
256,120
-
**CREDITORS**
Amounts falling due within one year
9
(4,154)
-
**NET CURRENT ASSETS**
251,966
-
**TOTAL ASSETS LESS CURRENT LIABILITIES**
355,815
-
**NET ASSETS**
355,815
-
**FUNDS**
10
Unrestricted funds
**TOTAL FUNDS**|31.7.21
Total
funds
£
68,410
21,166
14,273
103,849
256,120
(4,154)
251,966
355,815
355,815
355,815
355,815|31.7.20
Total
funds
£
54,794
34,350
14,273
103,417
209,246
(2,049)
207,197
310,614
310,614
310,614
310,614| |---|---|---| The financial statements were approved by the Board of Trustees on 18 October 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 2021** ## **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| |---|---| |Plant and machinery|- 10% on cost| |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
Raffle|31.7.21
£
3,700
4,285
-
7,985|31.7.20
£
1,268
16,811
348| |---|---|---| |||18,427| ## **3.** ## **INVESTMENT INCOME** ||31.7.21|31.7.20| |---|---|---| ||£|£| |Deposit account interest|16|237| Page 5 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **4. COSTS OF GENERATING VOLUNTARY INCOME** Support costs |31.7.21|31.7.20| |---|---| |£|£| |55,857|86,768| ## **5. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020 . ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020 . ## **6.** ## **TANGIBLE FIXED ASSETS** |The Jaguar
Plant and
The Cody
Building
machinery
Pavilion
£
£
£
**COST**
At 1 August 2020
81,966
-
61,750
Additions
-
18,171
-
At 31 July 2021
81,966
18,171
61,750
**DEPRECIATION**
At 1 August 2020
27,172
-
61,750
Charge for year
2,738
1,817
-
At 31 July 2021
29,910
1,817
61,750
**NET BOOK VALUE**
At 31 July 2021
52,056
16,354
-
At 31 July 2020
54,794
-
-|Totals
£
143,716
18,171| |---|---| ||161,887| ||88,922
4,555| ||93,477| ||68,410| ||54,794| Page 6 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **7. HERITAGE ASSETS** |Total
£
**MARKET VALUE**
At 1 August 2020 and 31 July 2021
159,582
**PROVISIONS**
At 1 August 2020
125,232
Charge for year
13,184
At 31 July 2021
138,416
**NET BOOK VALUE**
At 31 July 2021
21,166
At 31 July 2020
34,350
**8.**
**FIXED ASSET INVESTMENTS**
31.7.21
31.7.20
£
£
Loans
14,273
14,273
Loans to group
undertakings
£
At 1 August 2020 and 31 July 2021
14,273
There were no investment assets outside the UK.
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.7.21
31.7.20
£
£
Other creditors
4,154
2,049
**10.**
**MOVEMENT IN FUNDS**
Net movement
At 1.8.20
in funds
At 31.7.21
£
£
£
**Unrestricted funds**
General fund
310,614
45,201
355,815
**TOTAL FUNDS**
310,614
45,201
355,815|Total
£
159,582|Total
£
159,582| |---|---|---| ||125,232
13,184|| ||138,416|| |||21,166| |||34,350| |||31.7.20
£
14,273| ||355,815|| Page 7 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **10. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: ||Incoming|Resources|Movement in| |---|---|---|---| ||resources|expended|funds| ||£|£|£| |**Unrestricted funds**|||| |General fund|120,380|(75,179)|45,201| |**TOTAL FUNDS**|120,380|(75,179)|45,201| |**Comparatives for 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| ||||| |Comparative 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)| ||||| A current year 12 months and prior year 12 months combined position is as follows: |||Net movement|| |---|---|---|---| ||At 1.8.19|in funds|At 31.7.21| ||£|£|£| |**Unrestricted funds**|||| |General fund|333,126|22,689|355,815| |**TOTAL FUNDS**|333,126|22,689|355,815| Page 8 ## **Farnborough Air Sciences Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 July 2021** ## **10. MOVEMENT IN FUNDS - continued** 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|203,331|(180,642)|22,689| |**TOTAL FUNDS**|203,331|(180,642)|22,689| Page 9 ## **Farnborough Air Sciences Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 July 2021** |**INCOMING RESOURCES**
**Voluntary income**
Donations
Gift aid
Grants
Subscriptions
**Activities for generating funds**
Archive/Photo sales
Tours
Raffle
**Investment income**
Deposit account interest
**Total incoming resources**
**RESOURCES EXPENDED**
**Governance costs**
Accountancy
Professional fees
Short leasehold
Plant and machinery
Heritage asset 2
**Support costs**
**Management**
Rent - Centrifuge
Insurance
Light and heat
Postage and stationery
Sundries
Bricks
Waste
Security
Printing
Cleaning
IT
Carried forward|31.7.21
£
73,868
8,000
17,907
12,604
112,379
3,700
4,285
-
7,985
16
120,380
1,583
-
2,738
1,817
13,184
19,322
25,000
3,493
6,726
1,005
60
379
700
2,909
1,835
600
1,368
44,075|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
56,268| This page does not form part of the statutory financial statements Page 10 ## **Farnborough Air Sciences Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 July 2021** |**Management**
Brought forward
Visits/Tours
Advertising
Office Costs
Archive Photos
Museum Displays
Museum Maintenance
FASTA talks
Library Costs
Workshop
**Finance**
Paypal Fees
Credit Card Charges
**Total resources expended**
**Net income/(expenditure)**|31.7.21
£
44,075
-
894
1,393
135
2,746
5,271
-
856
53
55,423
51
383
434
75,179
45,201|31.7.20
£
56,268
1,290
540
2,707
-
12,910
4,287
1,200
5,177
323
84,702
1,617
449
2,066
105,463
(22,512)| |---|---|---| This page does not form part of the statutory financial statements Page 11