## **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 Rec0￿mEnded 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 Tn￿t (the Tn￿t) 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 Tn￿1 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
fi￿d%
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- Th￿te¢
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 f￿ancial 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¢0￿mellded 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 S￿ndard 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$es
There wer¢ no tn￿tee5. ¢xp¢ns¢5 pald for the year ended 31 July 2025 nor ft*r the year ended 31 July 2024.
COMPARATtVES FOR THE STATEMENT OF FINANCIAL AcfIvITIES
Unrestritted
firnds
Restricted
f￿d$
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 Tn￿t
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 Fu￿Ds
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 tran￿etIOnS 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
cle￿1]ng
IT
FAST Taiks
Publicity
Office Costs
Cotjcorde Simulaior
Cenli'ifllge
EdLicalion
Wind Tut￿e1
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