Farnborough Air Sciences Trust
Chairman’s Report 2024-25
FAST was created to preserve and promote the rich aviation heritage of the former research establishments at Farnborough. This includes the preservation of historic aviation buildings, artefacts and the full range of records; the establishment and maintenance of a publicly accessible Archive and Air Sciences Museum on the old Royal Aircraft Establishment (RAE) site; and conducting tours and educational visits.
The FAST Museum is located in Trenchard House, a Grade II* listed building, which is leased from Frasers Property. In January 2025 the Trust negotiated a 30 year lease extension (to 2072), giving security of tenure for many years to come. FAST has continued to invest in the site, including installation of solar panels. In addition to the environmental benefits, this will save money on energy bills in the future. The Trust also carried out an extensive IT upgrade across the Museum, including improved internet access. Other recent Museum projects have included a climate-controlled store for the RAE film and photo archive; and renovating and erecting the flagpole from No. 1 RAF Officers’ Mess.
The Trust continues to operate on an entirely volunteer basis, with dedicated and selfless support given by the many volunteers who work tirelessly on maintaining the Museum, its displays and exhibits; and archiving and preserving the many historical artefacts, films, photos and documents.
The Trustee Board maintains ownership and oversight of the Trust’s governance, financial strategy and ongoing sustainability. The Trust’s financial position remains sound. Work is ongoing on a medium/long term strategy and a review of FAST’s governance to ensure it is fit for the future.
FAST aims to educate the public in the history and development of aviation and space technology from its earliest days and its continuing evolution. This is achieved through the Museum (free entry at weekends) and organised visits to the historic aviation buildings on the old RAE site. Visitor numbers to the Museum held up well at around 12,000 for the year and very positive feedback from visitors has been regularly received.
One of FAST’s aims is to encourage young people into STEM, and 2024-25 was a very successful year for this, welcoming over 1,000 children on school and youth group visits, with most schools rebooking every year. The Trust also ran very successful mid-week tours of the Museum and the historic wind tunnels for individuals and various groups (eg U3A, Probus); again with very positive feedback.
Until October 2024 the Trust also ran tours of the RAF IAM human centrifuge. However, the building owners then terminated our licence to run these tours, and FAST no longer has access to the building. In order to give the centrifuge more protection, and hopefully to get it put on the Heritage at Risk Register, FAST applied to Historic England in September 2024 to increase the listing status from Grade II to Grade II*.
The Trust continues to work closely and network with a number of local and national organisations, including Aviation Heritage UK, Hampshire Military Museums Network, Hampshire Buildings Preservation Trust and Farnborough Aerospace Consortium.
Finally, I would like to thank our local MP (Alex Baker), Rushmoor Borough Council and our landlords (Frasers Property) for their continued support and encouragement.
Andrew Lloyd
Chairman Farnborough Air Sciences Trust
May 2026
REGISTERED CHARITY NUMBER: 1040199 Report of the TTlJ5tees und Unaudlted FlnanclAI Statements for tlie Year Ended 31 July 2023 for Farnborough Alr Selen¢4s Trust Graham Best & Co 189 Lyllchford Road Farnborough Hampshire GU 14 6HD
Farnborough Air Sclelltes Trust Contents of the Fthaneial Statements Ior the YeAr Ended 31 July 2025 Page R¢porc ofthe Trustees Independent Examlner's Report Statement of Financl&l Activiti Balnnce Sheet Notu to tht Financial Statements Detailed Statement of Financial Activities 10 to 11
Farnborough Air Scie¢¢5 Trust R¢port olthe Trusttts for tbe Year Ended 31 July 2025 The trustees pr¢5ent their report with the financial statemen1$ of the charity for the year ended 3 5 Juty 2025. The twsiees have adopted the provisions of Aceounting and Reporting by Charities= Sratement Df Rec0mEnded Practice applicable to charities preparing their accounts in ordance with the Financial iiqx)rtitL8 StaDdard appllcable in the UK and Republic of Ireland IfRS 102) (eff¢ctiv¢ l January 2019). STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity 1$ ¢ontrolled by its gov¢rnin8 do¢urnenL a deed of st and constitsJte$ an uniowTporated charity. Related partie$ Ten of the Trustees of the Charity are each the holder of LO share5 in TTenchard Trading Limited a retail tradin8 company. A nunthr of th¢ Charity Trusi¢es aTe dlrectors of the company. RFFF.RF.NCE AiYD ADMINISTL4TlVt DETAILS Reglstcrod Charlty nurnber 1040199 Prlncipal Address Trenchard House 83 Famborough Road FftmLx)rough Hampshir¢ GU14 6TF Trustees R Gardner L Pe8kett Dr G M Rood Se¢retary B Luff Museum Curalor D F M Gordon D Wilso Sir Donald Spiers Vic¢ Chairnian M J Hordl¢y P O 8u¢kroyd A Lloyd Chairman Mrs S L Adcock lfjdependent ExAmintr Graham Best & Co Graham Best & Co 189 Lynchford Road Farnborough Harnpshire GU14 6HD Approved by order of the board of tswstees on 3 Decembcr 2025 and Signed On 11$ behalf by.. A Lloyd- Trust¢e Page I
Ind¢pendent Exarniner's Report tts the Tru5tee5 of Farnbortsugb Air Sciences Trnst Independent exalniner's report to the tru5teos of Fthrnborough Air Sciences Trust I report to the eharity ttyJ5tees on my examination of the accounts of Famborough A w Sciences Tnt (the Tnt) for the year ended 31 July 2025. Responsibilitics and basls of report As the charity trustees of the TnLSt YDU are re5POU5ible for the prepardtion of the accounts in accordance with the requirements of the Charities Act 2011 ('the Acrf)- I r¢port in respect of my exarninatitsn of the Trust's accounts carried out wider Section 145 of the Aci and in ¢grrying out y &xatnination I have f()Ilowed all applicable Directions givert by the Charity Commission under Section l45(5)(b) of the Act. Independenl examiMer ¥ 5t8temeDt I havc completed my examinatton. I co1 no rnattrial Tnatter5 have come to my attention in connection with the examillation giviug ctLUSC to believe that in any material respect.. ¥eeounting re¢ords were not kept in respect of the Tn1 as required by Se¢tlon 130 of the A¢l' or the accounts do not accord with those records. or the accounts do not comply with thr applicable requirements concerning ihe fonn and eontent of aecounts sel Out in the Cliarities (AcLount5 alld R¢port5) Regulations 2008 other than any requirellLent that the ac¢ounts give a tn and fair view which is not u Inatter considered as part of an illdepettdent examination. have llo ¢oucen]s have ¢ome &¢ross no other matter5 in ¢onn¢¢tion with the ¢xBmination to which ¥Lttcntion should be drawn irn this report in order to enabl¢ fb proper understanding of the a¢¢ounts to be rcach¢d, OrahEm B¢51 & Co Graham Besi & Co 189 Lynrhford Road Farnborough Hampshire GU14 OHD 4 December 2025 Page 2
Farnborough Air Scienccs Trust Ststement of FiNanci#l Activities for the Yvdr Ended 31 July 2025 31.7.25 Tothl funds 31.7.24 Total funds Unresknct¢d fund$ Restricted fid% Notes INCOME Af+lD ENDOWMENTS FROM Donations and legaeies 73,925 73.925 346.405 Other trdding aciivitie$ Investsnent income 34,249 18,179 34,249 18.179 33.463 15.776 Total 126,353 126.353 395.644 EXPEf4DITURE ON Raisin8 fund5 133,778 133.778 211.844 Other 949 949 Total 134,727 134,727 211,844 NET INCOMEI{EXPENDITURE) (8.374) 18.374) 183.800 RECONCILJATION OF FUNDS Total funds brought forward 631,398 631,398 447,598 TOTAL Fuf4DS CARRIED FORWARD 623,024 623,024 631.398 The note5 form part of th¢se financial ststements Page 3
Farnborough Air SeieDces Trust Balance Sheet 31 July 2025 31.724 Total funds Unrestricted funds Restricted funds Totsl Notes FIXED ASSETS Tangible assets Herirage assets 86.526 124 86,5?6 124 80,574 247 86,650 86,650 80.821 CURRENT ASSETS Debtors Cash at bank and in hand 22,845 514.476 22,845 514,476 20,505 531,021 537,321 537,321 551,526 CRF.DITORS Amounrs falling due within one year 10 (947) (947) (949) NET CURREprr ASSETS 536.374 536,374 550,577 TOTAL ASSETS LESS CURRENT LIABILITIES 623.024 623,024 631,398 NET ASSETS 623.024 623,024 631,398 FUNDS UTwe$tri¢ied funds 623,024 631.398 TOTAL FUNDS 623,024 631,398 Thc financial statcinents wer¢ appTovcd by thc Board of Tru$tew and auti)orised for issue on J December 2025 and w¢r¢ $i8ned on it$ behalf by: A Lloyd- Thte¢ The noies fomi part of these finaneial statement8 Page 4
Farnborough Air Scicllces Trust Notes to th£ Financial Statements for the Year Ended 31 July 2025 ACCOUIYTING POLICIES Basis of preparing the financial 5tAternents The fancial ststements of the charity, wbich is a pubtic bellefii entity under FRS 102, bave been prepared in accordance with the ChaTities SORP (FRS 102) 'Accountirtg and Reporting by Chariiies- Staiement of Re¢0mellded Practice applicable io charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in th¢ UK and R¢public of Ireland (FRS 102) (effective l January 20I9)', Financial R¢porting Standard 102 The Financial Reporting Sndard applicable in ih¢ UK and Republic of Lr¢land' and the Charitie5 Act 2011. The financial ststements have been prepared under the histOTiCAI cost convention. Income All income is recognised in the Ststement of financial Activities once the chariry hts entitlement to the fund4 it is probable ihat the income will be received and the amount can be ured reliably. Expendlture Liabiliti¢s ar¢ recognised a8 expendintye as soon as there is a legal or constructive obligatioll committing the charity to that expendinjre. ir is probable that a transfer of ¢¢onomi¢ benefits will be required in seiilcment and the amouni o(Ihe obligation eatt be tneasured reliably. Expenditure 15 accounted for on 8n accnjals basis and has been classified under headings that aggregate 011 eost related to the category. Where COSLS cannot be directly attributed to particular headin85 they have been allocated io activities on a basis conslsteni wlth the use of resources. Tanglble Ilxed asset$ D¢preciation is provided at the following annual rates in order to write off tach Set oyer tts estimated usefjjl life. The Jaguar Buildin8 Plant and machinery The Cody Pavilic*n in accordance ivith the property I OO/• on ¢osi 25Oh on ¢051 Taxation The charity is exempt from tax on its d)ariiable activhli¢$. Fund accounting Unrestricted ndS can be used in aecordance with the ¢h8riiabl¢ obje¢tives at the di$¢reiion ofthe trn$tee& Restricted fjJnd$ can only be used for particular r&stricied purpoxs within the objects of the charity. Restrictiorts arise when speeificd by the donor or when fijnds att raised for particular restricted PUTPOSE5. Further ¢xplana¢ion of the nature and purpose of each fvnd is included in the notes to the fthan¢ial staternents. OTHER TRADING AcfiviTIES 31.725 31.7.24 ArchivelPhoto sales Tours Corporate Sponsorship 3,624 29,625 1,000 3.063 29,400 1,000 34,249 33.463 Page 5 continued...
F8rllborough Air Sciences Tru$t Note5 to the Fillallcial St¥Ltcments- tontinued ror the Ytar Ended 31 July 2025 tNVESTMETrry INCOME 31.725 3 1.7.24 Deposit account interest 18,179 15,776 RAISING FUNDS R8l$lng don#tions and le¥aelcs 31.7.25 31.7.24 Support costs 133,778 211,623 TRUSTEES, REMUNERA TION AND BENEFITS Th¢r¢ were no trustees, remuncration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024. Trustees. exp¢n$es There wer¢ no tntee5. ¢xp¢ns¢5 pald for the year ended 31 July 2025 nor ft*r the year ended 31 July 2024. COMPARATtVES FOR THE STATEMENT OF FINANCIAL AcfIvITIES Unrestritted firnds Restricted fd$ Tothl fund5 tNCOME AIYD ENDOWMENTS FROM Donations and l¢8wles 346,405 346.405 O¢h¢r trading actiVlTies InYe3tsnenl income 33,463 15,776 33,463 15,776 Totsl 395,644 395.644 EXPENDITURE ON Raising ndS 211.844 211.844 J¥ET INCOME 183.800 183.800 RECONCILIATION OF FUNDS Tolal funds brought forward 447,598 447,598 TOTAL FUL¥DS CARRIED FORWARI) 631.398 631.398 Page 6 continued...
Farnborough Air Scicnces Tnt r4ote5 to the Financial Ststernents- continued for the Ye#r Ended 31 July 21125 TANCIBLE FIXED ASSETS The Plant and machinery The Cody l¥vilii)n Building Tothls COST At l August 2024 Additions 31,966 55,071 15,775 61,750 198,787 15.775 At 31 July 2025 8E.966 70,846 61,750 214.562 DEPRECIATION A¢ l August 2024 Chatg¢ foryear 38,125 2,738 18.338 7,085 61,750 118,213 9,823 Ai 31 July 2023 40,863 25,423 61,750 128.036 NET BOOK VALUE At 31 July 2023 41.103 45.423 86.526 At 31 July 2024 43,841 36,733 80.574 HERITAGE ASSETS Totsl MkRILET VALUE At l August 2024 and 31 July 2025 159.582 PROVISIONS At l August 2024 Chargc for y¢ar 159,335 1?3 At 31 July 2025 159,458 NET BOOK VALUE Ai 31 July 2025 Ai 31 July 2024 247 DEBTORS: AMOUNTS FALLING DUE WITHJli ONE YEAR 31.7.25 31.724 Trenchard Trading Limited 22.845 20.505 Page 7 ¢oniinued...
Farnljorough Atr ScieThces Trust Note5 to the Financi31 Statements- continued for the Year Ended 31 July 2023 io. CREDrroRS: AMOUNTS FALLING DUE WITHll¥ ONE YEAR 31.7.25 31.7.24 Other Creditors 947 949 MOVEMENT tN FUNDS Net movement fijnds At 31.725 At 1.8.24 Unrcstricted funds Genernl fund 631.398 (8,374) 623.024 TOTAL FUNDS 631,398 (8,374) 623,024 Net movement in liu)ds. in¢luded th the above are a5 ftillows.. In¢omin8 resources Re50UT¢es expen(kd Movement in fimds Unreslrl¢ted fundj General fvDd 126,353 (134,727) (8.374) TOTAL FuDs 126.353 (134,727) (8.374) ComparRtiVfS for movement in funds Net movement in funds Ai 31.7.24 At 1.8.23 UTrrestrleted funds Genernl fund 447.598 183.800 631.398 TOTAL FUNDS 447,593 l83,800 631.398 Comparntiv¢ net movernent iti funds, in¢luded ID the above are a5 ftillows: Incoming r¢sources Resources expended Movement in fimds VDrestri¢ted funds General fund 395,644 (211,844) 183.800 TOTAL FUNDS 395.644 (211.844) 183.800 Po8e 8 ¢onlinued..
Farnl)orougb Air Sclenees Trnst Note5 to the Flnancial Statements- eontinued for tb¢ Year Ended 31 July 2025 ii. MOVEMENT IN FUNDS- contlnu¢d A current year 12 months and prior year 12 months combinedposition is as follows: Net movement in funds At 31.7.23 At 1.8.23 Unrestricted funds G¢rteral fund 447.598 175,426 623.024 TOTAL FUNDS 447,598 l75,426 623.024 A ¢urret]t yew 12 months and prior aT 12 months cornbined nei movem¢nt in nds, Included in the above are as follows: Incoming resources Resources expended Mov¢m¢nt in fvnd$ Unrestrl¢t¢d f¥nd$ General Iljnd 321,997 (346.571) 175.426 TOTAL Firr4DS 521,997 (346,571) 175.4?6 12. RELATED PARTY DISCLOSURES There were no related party tranetIOnS for the year ended 31 Auly 2025. Page 9
Farnborough Air Sciences Trust Detailed Statement of Financial Aetlvities for the Year Ettded 31 July 2025 31.7.25 31.724 INCOME AJYD ENDOWMENTS Donations and legacies Donations Gifi aid Legacies Grants Subscriptions 54,324 7,924 213 47,043 3.086 250.000 35.819 10,455 11.464 73,925 346.405 Other trading 8Ctivitie5 Archive,'Photo sales Tours Corporare Sponsorship 3,6?4 29.625 i.o(KJ 3,063 29,400 1.000 34.249 33,463 Investment Income Deposit account inierest 18,179 15,776 Total Incoming resources 126,353 395,644 EXPENDITURE Suppori Costs ManggetN¢nt 6,206 11,004 1,783 1,073 604 1,729 3,696 2,142 5,369 11.491 948 1,980 1.553 3,370 1.538 216 1,786 2.113 12,821 34,314 3,766 20,231 Liglit and heat Telephone Postaoe and stationery Bricks Wdsie Seciirity & Safety inling cle1]ng IT FAST Taiks Publicity Office Costs Cotjcorde Simulaior Cenli'ifllge EdLicalion Wind Tute1 Archives Museum Displays Museum maitit¢n[C¢ 952 215 1,709 3,329 3,885 5,376 5.984 1.325 255 4.208 6,000 83,519 15,409 31273 7.730 1,188 196,354 FAST 30 Library & Film Carried forward 1.534 107,270 This page doe5 not fortn part of th¢ statutory financial statements Pag¢ 10
Farnlyorough Air Se¥ence5 Trust Detsiled Statement of FinAn¢ial Activlties for the Y¢ar Ended 31 July 2025 31.7.25 31.724 Management Brought forward Meetings Anefaei Restorntion Travel Volunteer Welfare 107.270 201 2,311 340 1,282 196.354 3.308 I 11,404 199.662 Flngo¢e Rates and water Credit CJrd Charges 3,115 1.024 4,287 1.024 Governonce costs A¢countsncy and le801 f¢vJ Plant and machinery Herilage asset I Heritsge asset 2 9.089 7.085 2,7J8 124 1.129 5.507 2,738 1,784 19,036 11,158 ToLtl rc50urces expended 134,727 211,844 Net (expenditure)fillcome 18,374) 183.800 This page does llot fom part of the statutory financial Statements Pagell