ALL HALLOWS FARNHAIVI CHARITABLE TRUST (LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Registered Company No.. 02925196 Registered Charity No.. 1041017
ALL HALLOWS FARNHAM CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Contents Report of the Trustees Report of the Auditors Statement of Financial Activities Balance Sheet Statement of Accounting Policies 9-10 Notes to the Financial Statements
ALL HALLOWS FARNHAM CHARITABLE TRUST REPORT OF THE TRUSTEES The Trustees present their report and audited financial statements for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE INFORMATION TRUSTEES C l Anderson M A Baines P J Jukes T J S McGinn D Spare SECRETARY C S Antrobus REGISTERED OFFICE All Hallows Catholic School Weybourne Road Farnham Surrey GU9 9HF REGISTERED COMPANY NUMBER 2925196 REGISTERED CHARITY NUMBER 1041017 AUDITOR Haysmac LLP Chartered Accountants 10 Queen Street Place London EC4R 1AG BANKERS HSBC Bank PIC 74 High Street Alton Hampshire GU34 1EZ INVESTMENT MANAGERS Fundsmith 33 Cavendish Square London W1G OPW
ALL HALLOWS FARNHAM CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011 and reporting by charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} (second edition effective, 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The company was incorporated on 3 May 1994 as a company limited by guarantee and is a registered Charity. The number of trustees is never less than three. The trustees may appoint new trustees as required and the secretary to the Trust is appointed by the trustees, in accordance with the Memorandum & Articles of Association. Trustees The Trustees of the company, who are also the charity trustees, who served during the year and up to the date of this report are as follows'.- C Anderson M A Baines D Spare P J Jukes T J S McGinn Secretsry C S Antrobus Risk Assessment The Trustees have assessed the major risks to which the Trust is exposed, in particular those related to its operations and finances, and are satisfied that there are controls in place to mitigate exposure to such risks. Recruitment, induction and training of trustees Existing trustees identify new trustees and one to one induction takes place with the Chair. Selective reading material is provided to all trustees. OBJECTIVES AND ACTIVITIES The objectives of the Trust are the advancement of Roman Catholic religion and education and the provision of education and educational facilities to All Hallows Catholic School in Farnham, Surrey {the School). The principal activity throughout the year was managing the Trust's assets, leasing the Sixth Form Centre to All Hallows Catholic School and continuing to raise funds for the benefit of the School. Public Benefit The trustees have given due consideration to the Charity Commission's guidance on public benefit when considering the activities the charity undertakes. The provision of educational facilities at All Hallows Catholic School is of benefit to the local community. The Sports Hall is hired out to clubs in the evenings and at weekends. ACHIEVEMENTS AND PERFORMANCE The rents received from the School, together with donations from parents of students at the Schoo5, covered the cost of bank loan repayments. It was also possible to make donations to the School towards the cost of capital improvements and equipment.
ALL HALLOWS FARNHAM CHARITABLE TRUST REPORT OF THE TRUSTEES (CONTINUED) FINANCIAL REVIEW A summary of the results for the year is given on Page 7 of the financial statements. The Trustees consider the state of affairs to be satisfactory. Treasury management and investment policy Investing the charitable funds first took place in 2018119. There are no restrictions on the Charity's power to invest. The Charity's investments are managed day-to-day by Fundsmith, a third-paty fund manager, which the Trustees meet with periodically to review performance, income requirements and market trends. Reserves Policy The charity has free reserves, namely unrestricted funds not represented by fixed assets of £1,248,220 12024: £1,225,517) at the year end. Its accumulated surpluses are being applied towards providing grants and for future capital projects to benefit All Hallows Farnham Catholic School. The Trustees find the current level of reserves to be satisfactory. FUTURE PLANS The Trust will make available to curriculum departments of the School matched-funding grants to enhance the provision of education and support the aims and objectives of the School. The Trust will work to save funds with the aim of contributing towards the second floor of the St Thomas Aquinas building. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees {who are also the directors) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to., select suitable accounting policies and then apply them consistently- observe the methods and principles of the Charities SORP., make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time of the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each of the Trustees is aware at the time the report is approved: there is no relevant audit infomation of which the company's auditors are unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 2w/,, / 2025 and signed on its behalf by M A Baines Trustee
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALL HALLOWS FARNHAM CHARITABLE TRUST OPINION We have audited the financial statements of All Hallows Farnham Charitable Trust for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicab5e law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at ended 31 March 2025 and of the charitable company's net movement in funds, including the income and expenditure, for the year then ended., have been properly prepared in ac¢ordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in a¢cordance with International Standards on Auditing (UK) {ISAs (UK}} and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the U K, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant Sections of this report. OTHER INFORMATION The trustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated, If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. OPINIONS ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees (which includes the Director's report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements-, and the Directors, report included within the Report of the Trustees has been prepared in atcordance with applicable legal requirements.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALL HALLOWS FARNHAM CHARITABLE TRUST MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees {which incorporates the Trustees, report). We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept by the charitable company., or the charitable company financial statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the infomiation and explanations we require for our audit., or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS As explained more fully in the trustees, responsibilities statement set out on page 3, the trustees {who are also the Trustees of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below= Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Companies Act 2006 and Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as corporation tax, and sales tax.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALL HALLOWS FARNHAM CHARITABLE TRUST We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included: Inspecting correspondence with regulators and tax authorities., Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud., Evaluating management's controls designed to prevent and detect irregularities., Identifying and testing journals., Challenging assumptions and judgements made by management in their critical accounting estimates., and agreeing the validity of recognised receivables on a sample basis and challenging the recoverability assumptions, further assessing for any fraud or bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or . uklauditorsres onsibilities. This description forms part of our auditor's report. USE OF OUR REPORT This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Lee Stokes, Senior Statutory Auditor for and on behalf of Haysmac LLP, Statutory Auditor 10 Queen Street Place London EC4R 1AG l December 2025 Date..
ALL HALLOWS FARNHAM CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Total Unrestricted Funds 2025 Total Unrestricted Funds 2024 INCOME AND EXPENDITURE Notes Income from: Donations 186,920 93,549 Other trading activities.. Rental income 99,000 99,000 Total income 285,920 192,549 Expenditure on: Charitable activities 209,161 288,064 Total expenditure 209,161 288,064 Net incomel(expenditure) befo (losses)Igains on investments 78,759 195,5151 Unrealised {losses)/gains on investments (77,817) 152,733 Net movement in funds (1,058) 57,218 Balances brought forward at 1 April 2024 1,723,642 1,666,424 Balances carried forward at 31 March 2025 1,722,584 1,723,642 All activities are continuing. The accompanying notes form part of these financial ststements.
ALL HALLOWS FARNHAM CHARITABLE TRUST Company Number: 02925196 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible fixed assets Investments 474,364 1,145,730 498,125 1,166,547 1,620,094 1,664,672 CURRENT ASSETS Debtors Cash at bank and in hand 28,276 85,630 38,913 30,557 113,906 69,470 CREDITORS: Amounts falling due within one year (11,416) (10,500) NET CURRENT ASSETS 102,490 58,970 NET ASSETS 1,722,584 1,723,642 UNRESTRICTED FUNDS General Reserve 1,722,584 1,723,642 This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within part 15 of the Companies Act 2006. Approved by the Board of Trustees and authorised for issue on behalf by.. 2025 and were signed below on its M A Baines Trustee The accompanying notes form part of these financial statements.
ALL HALLOWS FARNHAM CHARITABLE TRUST STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2025 a) Basis of Accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition, effective 1 January 2019 - (Charities SORP (FRS 102}}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). There were no critical areas ofjudgment or estimation used in preparing the financial statements. b) Going concern The trustees consider there are no material uncertainties about the charity's ability to continue as a going concern. The review of our financial position and reserves levels, particularly including the investment portfolio, and future plans gives trustees confidence the charity remains a going concern for the foreseeable future. c} Income All income is included in the statement of financial activities when the charity is entitled to the income, it is probable that income will be received and the amount can be quantified with reasonable accuracy. Income received for the year is wholly attributable to the continuing activities of the company and it is earned entirely within the United Kingdom. d) Expenditure The irrecoverable element of VAT is included with the item of expense to which it relates. Charitable activities relates to costs incurred in delivering the charity's activities and services to its beneficiaries. Governance costs are costs incurred in meeting the constitutional and statutory requirements of the charity. e) Cash Flow Statement The company has taken advantage of the exemptions provided by SORP {FRS 102) and has not prepared a cash flow statement for the year. Tangible fixed assets Tangible fixed assets are stated at cost. Depreciation is provided to write off the cost of fixed assets over their estimated useful lives as follows.. Long Leasehold Property Furniture and Fittings Life of the Lease g) Investments Investments are a form of basic financial instrument and are initially shown in the accounts at market value. Vvhen shares are disposed, any realised gains or losses on the disposal of shares is recognised in the Statement of Financial Activities. Movements in the market values of investments are shown as unrealised gains and losses in the Statement of Financial Activities. Realised gains and losses on investments are calculated as the difference beeen sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are Calculated as the difference between the fair value at the end of the year and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
ALL HALLOWS FARNHAM CHARITABLE TRUST STATEMENT OF ACCOUNTING POLICIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 h) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. i) Cash at bank and in hand Cash at bank and cash in hand includes cash and amounts held in liquid bank accounts. 1> Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably resu It in the transfer of funds to a third paty and the amount due to settle the obSigation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due k) Financial instruments Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost with the exception of investments which are held at market value. Financial assets held amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except accruals and provisions. l) Taxation The company is a registered charity and no tax is payable on its charitable income and surpluses re-applied to its charitable purposes. 10
ALL HALLOWS FARNHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 EXPENDITURE Other Costs Total 2025 Depreciation Charitable activities.- Costs of operations Governance costs Grant to All Hallows Catholic School 48,027 1,344 6,750 153,040 49,371 6,750 153,040 48,027 161,134 209,161 Other Costs Total 2024 Comparative period Depreciation Chan-table activities.. Costs of operations Governance costs Grant to All Hallows Catholic School 47,284 1,812 6,251 232,717 49,096 6,251 232,717 47,284 240,780 288,064 The governance costs of the charity include only the auditor's remuneration costs recognised in the year of £6,750 {2024'. £6,251) which takes into account a £Nil (2024= £49) recognition timing difference whereby fees charged were £6,750 (2024: £6,300). No remuneration was paid to any of the Trustees in the year (2024.. £Nil). No staff were employed by the charity (2024= none). FIXED ASSETS Furniture and fixtures Centre Total COST At 1 April 2024 Additions 945,674 19,305 9,951 4,960 955,625 24,265 At 31 March 2025 964,979 14,911 979,890 DEPRECIATION At 1 April 2024 Charge for the year 447,548 47,779 9,951 248 457,499 48,027 At 31 March 2025 495,327 10,199 505,526 NET BOOK VALUE At 31 March 2025 469,652 4,712 474,364 At 31 March 2024 498,125 498,125 The fixed assets are wholly used for the company's charitable purpose. The leasehold properties are with All Hallows Catholic School. On the 18 July 2014 a new 20-year lease was signed for the 6th Form Centre which was completed in the year to 31 March 2015 and the costs incurred have been depreciated from September 2014 when the building came into use.
ALL HALLOWS FARNHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 INVESTMENTS 2025 2024 As at l April 2024 Additions Unrealised (loss)Igain 1,166,547 57,000 177,817} 938,814 75,000 152,733 As at 31 March 2025 1,145,730 1,166,547 The above investment holding is held fully as equity units with a historic cost of £810,000 12024.. £753,000}. DEBTORS 2025 2024 Trade debtors Other debtors Prepayments VAT receivable 9,900 17,077 1,299 9,900 18,362 763 9,888 28,276 38,913 CREDITORS: Amounts falling due within one year 2025 2024 Trade creditors Social security and other taxes Accruals 900 3,300 6,300 4,666 6,750 11,416 10,500 12
ALL HALLOWS FARNHAM CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 SHARE CAPITAL The company is limited by guarantee and as such has no issued share capital. Each member's guarantee is limited to an amount of up to £1 per member. RELATED PARTY TRANSACTIONS A 20-year lease with All Hallows Catholic School for the 6th Form Centre commenced on 18 July 2014. Rent of £8,250 per month is receivable for the life of the lease. One month's rent is included in trade debtors at 31 March 2025 (2024.. one month). A grant of £153,040 (2024: £232,717) was awarded by the Trust to All Hallows Catholic School as a contribution towards capital works in the School. Trustees donated £Nil (2024- £120) to the Trust in the year. 13
ALL HALLOWS FARNHAM CHARITABLE TRUST DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 FOR TRUSTEES INFORMATION ONLY 2025 2024 INCOME Donations Gift aid receivable Rental income 169,843 17,077 99,000 75,187 18,362 99,000 285,920 192,549 EXPENDITURE Professional fees Sundry Grant to All Hallows Catholic School 6,750 1,344 153,040 6,251 1,812 232,717 (161,1341 {240,780) OPERATING SURPLUSI(DEFICIT) FOR THE YEAR 124,786 (48,2311 Depreciation {48,027) {47,284) SURPLUSI(DEFICIT) FOR THE YEAR BEFORE {LOSSES}IGAINS ON INVESTMENTS 76,759 (95,515) Unrealised (lossesllgains on investments (77,817) 152,733 (DEFICIT}ISURPLUS FOR THE YEAR 11,058) 57,218 This page does not form part of the statutory financial statements. 14