Registered number.. 03571924
Charity number. 1070864
THE DILL FAULKES EDUCATIONAL TRUST LIMITED
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees. Report
2-11
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
14-15
Notes to the Financial Statements
16-24

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Dr M C Faulkes
Dr E J Futcher
Ms A R Heward
Mr G A Innes
Company registered
number
03571924
Charity registered
number
1070864
Registered office
1 st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BN
Company secretary
MCS Formations Limited
Page 1

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees {who are also directors of the charity for the purpose of the Companies Act) present their Annual
Report together with the financial statements of The Dill Faulkes Educational Trust Limited {the company) for
the 1 April 2023 to 31 March 2024. The Trustees confirm that the Annual Report and financial statements of the
charity comply with the cu rrent statutory req uirements, the req uirements of the charity's govern ing docu ment
and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS102) {effective 1 January 2015).
Objectives and activities
a. POLICIES AND OBJECTIVES
The Trust promotes projects that will en hance the public understanding of a broad range of specific issues and
disciplines by school and u niversity students and others. Dr M C Faulkes endowed the Trust in 1998 by transfer
of listed UK securities which have been sold to provide funds for various projects considered and approved by
the Trust.
The key objectives of The Trust are..
a) To assist financially selected research institute, college, university, school or other educational
establishment {hereinafter called "School"),
b) To provide financial assistance or g rants to any School,
c) To establish a period ical medal or prize at any School,
d) To endow any School with a lecturesh ip, "chair" or similar position,
e) To promote research and the publication of the usefu I resu Its of such research,
To provide scholarsh ips, exhibitions, bursaries, maintenance allowances or financial assistance to any
person or group of persons attending any School,
g) To promote lectures, seminars, conferences, teaching or other means whereby the public may be educated
or informed,
h) To publish and disseminate any journal, books, writing or other information in any form and to commission
any books or other disseminable information., and
i) Otherwise to fu rther the ed ucation of the public.
b. ACTIVITIES FOR ACHIEVING OBJECTIVES
Activities include the promotion of the study of astronomy, planetary science, mathematics and geometry by
offering telescope time to schools, participation in international projects, and the provision of grants to outreach
organ isations and researchers.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
c. ACTIVITIES DURING THE FINANCIAL YEAR
1. EU Funded Projects
During the 2023-2024 Financial Year, the Dill Faulkes Educational Trust Ltd {DFET) participated in three
projects funded by the European Commission..
The Europlanet 2024 Research Infrastructure was a É10 million project funded through the HorEon 2020
Research and Innovation Programme, with 50+ beneficiaries led by the University of Kent. Europlanet 2024
Rl Ihttps'./hNww.europlanet.org) su pported access to the world's largest collection of simu lation and
analytical facilities for planetary science. The project launched on 1 February 2020 and ran until 31 July
2024 {granted a 6-month no-cost extension by the European Commission from the projecys original end-
date of 31 January 2024). DFET was responsible for media, social media, education and sustainability tasks
within the project
EXPLORE was a É2 million project funded through the HorEon 2020 Research and Innovation Programme,
with eight beneficiaries and led by the French company, ACRI-ST. EXPLORE {https'.//explore-platform.eu4
developed scientific data applications that use artificial intelligence {Al) and visual analytics to exploit the
vast datasets generated by astrophysics and planetary missions. The project launched on 1 November
2020 and ran until 31 December 2023 {granted a 2-month no-cost extension by the European Commission
from the project's original end-date of 31 October 2023. DFET was responsible for communications for the
project as well as the organisation of user workshops, public events and a 'Data Challenge,.
LaSciL {Large Scientific Infrastructures enriching online and digital Learning) was a É0.299 million project
funded through the Erasmus+ programme, with 5 beneficiaries led by DFET. LaSciL aimed to enhance
teachers, digital preparedness and support high quality science teaching in situ and remotely. The project
started on 30 June 2021 and ran for bNo years to 29 June 2023. As the project coordinator, DFET was
responsible for overall management of the LaSCiL project and contributed to the development of five
Intellectual Outputs {the LaSciL 'Toolbox' of high-quality digital tools for teachers), as well as providing
training for teachers through UK-based Multiplier Events and international summer schools {Learning,
Teach ing, Training Activities).
Note on the impact of Covid-19 on DFET involvement in EU projects.. The pandemic had a substantial impact
on all three projects. Grant Amendments and project extensions were requested and agreed in 2023 for both
the Europlanet and EXPLORE projects, which increased the budgets on both projects for DFET. The DFET
budget for Europlanet was further increased in 2024 due to underspends at the end of the project. The final
approved settlement for the LaSciL project, due to budgets for face-to-face meetings during the pandemic not
being used, was approximately É15K less than the original amount requested in the proposal, with a É6K in
reduction in the grant awarded to DFET.
2. RAS DART Grant
The Comet Chasers project engaged schools with observing comets since September 2021. In May 2022, a
Royal Astronomical Society (RAS) grant of up to £3,985 was secured by the Comet Chasers Pl, Helen Usher, to
support a series of activities {'Defending the Planet and Exploring Asteroids with the DARTIHERA Mission...
and a rotating potatol,), which aimed to use the excitement of being part of the NASA-led DART Mission to
extend the Comet Chasers to include more schools, a wider age range of students, Welsh-language
engagement, and the wider public. By the conditions ofthe grant, DFET was required to submit a grant outcome
report before being able to claim the amount awarded. DFET submitted a claim for reimbursement of the total
grant spent {£3,947.43) to RAS in September 2023 and received the funds on 5 October 2023.
Page 3

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
3. Prizes and Grants
In the 2023-2024 Financial Year, DFET has provided sponsorship for two Europlanet Society annual
programmes to support public engagement with planetary science..
The Europlanet PrEe for Public Engagement is a cash award of É1,500 that is awarded to individuals or
groups who have developed innovative and socially impactful practices in planetary science communication
and education.
The Europlanet Public Engagement Funding Scheme provides seed-funding of É1000-5000 for outreach
activities. The scheme aims to foster new ways of sharing planetary science with different kinds of
aud iences across Eu rope {and beyond) th rough initiatives that combine research, learning, in novation and
social development.
In March 2022, DFET agreed to provide É15,000 over three years to support the International Astronomical
Youth Camp {IAYC), IAYC is an annual three-week long summer camp that aims to promote knowledge of
astronomy and related sciences, organised by an international team of students and young scientists through
the International Workshop for Astronomy {IWA) e.V.
4. Faulkes Telescope Project
DFET provides educational users with approximately 1000 hours per year of free access to the LCO {Las
Cumbres Observatory) nebNork of robotic telescopes via the Faulkes Telescope Project {FTP). This time is
offered as both Real-Time Interface {RTI) observations and queue-scheduled observations, with access to
around 30 telescopes within the global network of 2-metre, 1-metre and 0.4-metre telescopes. Observations are
scheduled with LCO over hmo semesters per year, which run from 1 August to 31 January and 1 February- 31
July.
DFET offers about 200 hours per year on the RTI, which allows live observations allocated in 30 minute
sessions.
Usually, eight slots per week are on the 2-metre telescopes and two slots per week are on the 0.4-metre
telescopes at the same sites.
The remainder of DFET'S allocation is set up via the queue-scheduled mode. LCO debits DFET'S queue-
scheduled time from the 1000-hour allocation alongside overheads {e.g. slew time), but weights the time
debited according to the size of telescopes used. Thus, LCO debits DFET an hour per hour {1.'1) for queued
time on the 2-metre telescopes, but only 30 minutes per hour {1'.2) for queued time on the 1-metre telescopes
and 15 min utes per hou r {1'.4) for time on the 0.4-metre telescopes. All R Tl time is debited by LCO at full rate.
DFET has not used its whole allocation of 1000 hours in recent years. DFET and LCO agree to sell 200 hours of
DFETS 1000 hours to LCO users and split the cost 50'.50. This time is valued at $700 per hour for 2-metre
telescope time and $600 per hour for 1 or 0.4 metre telescope time. In the 2023-2024 financial year, this
brought in revenue for DFET of $65,000.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
The DFET subsidiary company, Faulkes Telescope Project {FTP) Ltd, was formally dissolved on 19thDecember
2023. As this company had previously administered DFET'S telescope time allocation, new arrangements were
put in place.
In late 2023, discussions were finalised with Liverpool John Moores University {LJMU) for The Schools,
Observatory {TSO) to take over the management of the DFET telescope time allocation on LCO. A contract with
LJMU was signed in January 2024. Legal support for the negotiations was provided by the firm of Edwin Coe
Ltd.
5. FTP-Europlanet gUG
The
not-for-profit
German
company,
FTP-Europlanet
gemeinnutzige
Unternehmergesellschaft
{haftungsbeschrankt) gUG, was established in 2020 to enable the DFETIFTPIEuroplanet team to participate in
Eu-funded projects after Brexit. On establishment, Lothar Kurtze, FTP Ltd and DFET Ltd were equal
shareholders, with each share having a value of 1 OOOE. Following the d issolution of FTP Ltd, Dill Fau Ikes, Anita
Heward and Lothar Kurtze visited a notary in Weinheim on 1 December 2023 to update the company statutes.
FTP Ltd was removed as a shareholder, with DFET and Lothar Kurtze now retaining 1.5 shares each of FTP-
Europlanet gUG. An apostille {notarised authorisation) by the DFET Ltd and FTP Ltd Directors and Company
Secretary, giving confirmation that Faulkes and Heward had permission to act on behalf of all the Directors, was
submitted to the German notary in January 2024 to complete this process. The updated statutes were published
in the German company register in February 2024.
FTP-Europlanet gUG is participating in bNo Ec-fu nded projects.. CliC-PoLiT {Climate Action and Light Pollution
Threat), an Erasmus+ project led by Blackrock Castle Observatory in Ireland, and StAnD {Students As planetary
Defenders), an Erasmus+ project led by INAF in Italy.
d. PUBLIC BENEFIT
The Trustees confirm that they have, in the admin istration of the charity, paid due regard to the public benefit
guidance published by the Charity Commission under section 4 of the Charities Act 2011.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
e. MAIN ACHIEVEMENTS FOR THE FINANCIAL YEAR
1. EU Funded Projects
Europlanet 2024 RI
Main Activities in Financial Year 2023-2024
With the Europlanet 2024 Rl project ending on 31 July 2024, the 2023-2024 financial year saw an intense
period of activities.
The Europlanet Media Centre issued seven press releases on Europlanet activities and related to the
planetary science community. Releases have been covered by the worldwide media.
The Social Media team has issued regular {- twice daily) updates on Europlanet 2024 Rl activities and
planetary topics via XITwitter, Facebook and Instagram.
Biannual publication of the Europlanet Magazine has continued, with an average online circulation of
-2,500.
Three educational resources linked to icy moons in the Solar System and Europlanet laboratory simulation
facilities were promoted to the community and have had 23,000 views to date.
Presentations on outreach and educational activities were given at international conferences and
workshops, including at the European Astronomical Societls annual meeting, the Joint Meeting of the
American Astronomical Society's Division of Planetary Science with the Europlanet Science Congress
{DPS-EPSC) 2023, and Astromeet 2023 in Dubai.
The DFET team, representing Europlanet, crewed a stand at Fantasy Basel, the largest Swiss comic
convention with an audience of -80,000 participants. The team ran hands-on activities and talked to visitors
about planetary research.
EXPLORE
Main Activities in Financial Year 2023-2024
The EXPLORE project finished on 31 December 2023.
Press releases were issued on EXPLORE activities, including creating sky maps and the launch of the
EXPLORE Machine Learning Toolkits.
Career profiles on the EXPLORE team were published on the EXPLORE platform and the Europlanet
websites
Video tutorials and web-updates on the EXPLORE project were produced and posted online.
LaSciL
Main Activities in Financial Year 2023-2024
The LaSciL project ended on 29 June 2023.
Teachers from Greece, Portugal, UK and Austria were trained on LaSciL activities through hands-on
workshops that promoted the involvement of robotic telescopes and astronomy in education.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
The final report for LaSciLwas complied and submitted on time in August 2023.
The British Council accepted the report and made the final payment in December 2023.
A paper evaluating the results of the project was presented at the annual meeting of the European
Astronomical Society. The session's proceedings were published in the journal Memorie della Societa
Astronomica Italiana {MemSAIt).
2. RAS DART Grant
The 'Defending the Planet and Exploring Asteroids with the DARTIHERA Mission... and a rotating potatol,
project, led by the Comet Chasers team, worked with over 250 children, aged 7-18, in their school classes and
delivered outreach engagement with over 750 people at public events. Overall, project participants made 928
observations {over 20 hours of Faulkes Telescope exposure time) of the Didymos system over nine months,
with the data being included in analysis by the NASA DART project team. Schools were credited in publications.
3. Prizes and Grants
Activities in Financial Year 2023-2024
3.1. Europlanet Prize and Funding Scheme for Public Engagement.
Three nominations for the Eu roplanet Prize and thirteen applications for the Eu roplanet Fu nd ing Scheme were
received in 2023. Applications and nominations were peer~reviewed by a panel comprised of members of the
Europlanet Society's Outreach Working Group and independent outreach experts.
The 2023 Europlanet PrEe for Public Engagement was awarded jointly to the artist, Danie5a de Paulis, for her
interdisciplinary programmes to bring space and planetary science to international audiences, and the science
communicator, El Mehdi Essaidi, for his community-centric work in southern Morocco to share the wonders of
our Solar System and the Universe. The results were announced in October 2023 and the prizes were awarded
at the Europlanet Science Congress {EPSC) in Berlin on 9 September 2024.
A grant ofÉ4,700 was awarded through the 2023 round of the Europlanet Public Engagement Funding Scheme
to "A Blink of a Star.. An Occultation CitEen Science Projecy,, led by the Sociedad Astronomica Granadina.
An additional grant of É3,500 was awarded in December 2023 on behalf of the Europlanet Public Engagement
Scheme to the Periastron association in Greece for the SpaceGates Foundation to prepare a Massive Online
Open Course {MOOC) on science communication.
3.2. International Astronomical Youth Camp IIAYCI 2023
IAYC 2023 took place from 9-29th July 2023 at Eichsfelder Hutte in central Germany, near the Harz National
Park. It was attended by 59 participants from 26 countries. There were seven working groups, each made of
eight or nine participants, several of which covered topics on observing with telescopes, including use of the
Faulkes Telescope and LCO network.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
4. Faulkes Telescope
The through the new partnership with DFET, TSO will expand its existing activities with schools in the UK and
I reland to offer schools worldwide access to over 25 robotic telescopes arou nd the g lobe, including the Liverpool
Telescope and the Las Cumbres Observatory network. The TSO 'Go Observing, platform is being updated to
enable users to observe a wider range of celestial objects and carry out similar research projects to those
conducted by users of FTP in the past.
To reflect the associated increase in management, administration, workload and website maintenance and
development for the TSO team, DFET has agreed to provide a Grant to fund a full-time Staff Member to support
the management and use of the telescope time. The advertisement for the position received 40 applications.
The successful candidate, Georgia Hurst, a former physics teacher, started work on the project on 1st
September 2024.
Several meetings have been held with TSO'S team during the financial year to progress the arrangement.
61 new users reg istered to use the telescopes, including..
39 Teachers
15 Educators
6 Students
1 Lecturer
During the 2023-2024 Financial Year, 413 sessions were booked using the Real Time Interface {RTI) for the
telescopes, with a total value of $289,100.
Table 7.. Summary of R Tl Time use during the 2023 - 2024 Financial Year
e of RTI Session
30-mi n Slots Available
2m slots
0.4m
Al located slots
Not booked
Sessions led b teachers
Avera
e observers
er month
Total value of time allocated for observations @
$700
er hour
Number of Sessions Available
491
307
184
413
78
>100
11.8
$289,100
The total value of queue time for the 2023-24 Financial Year {2 x months 24A + 6 x months 23B + 4 x months
23A) was $222,566.67.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities lcontinuedl
Table 2.. Summary of Queue Time use during the 2023 - 2024 Financial Year
24A11 February 2024- 31
Jul 2024
- Hours
Used
Allocated
27
130
23B11 August 2023 - 31
Januar
2024
- Hours
Used
Allocated
18
140
23A11 February 2023 - 31
Jul 2023
- Hours
Used
Allocated
23
179
0.4 metre
$600
1 metre
$600
2 metre
$700
Total
Value
Average per
month
98
110
46
140
85
110
20
200
87
200
108
200
145
S89 000
S14,833.33
440
S284 000
S47,333.33
151
S99 300
S16,550.00
480
S308 000
S51,333.33
216
S140 400
S23,400.00
489
S313 400
S52,233.33
Thus, the total value of telescope time {i.e. queue time {S222,566.67) + RTI time {$289,100.00)) donated by
DFET to schools and educators during the 2023-2024 Financial Year was $511,666.67.
5. FTP-Europlanet gUG
Main Activities in Financial Year 2023-2024
During the 2023-2024 ff nancial year, The FTP-Europlanet team produced educational resources and trained
teachers in multiplier events and summer schools for the CliC-PoLiT and StAnD Erasmus+ projects.
Financial review
For the year ended 31 March 2024, income amounted to £114,168 (2023.. £59. 106), expenditure amounted to
£135,297 (2023.. £183,889), and there were net losses on investments of £334,402 (2023.. £264, 181). The
charitable activities undertaken du ring the year are detailed in note 5.
As a result of the above movements, a deficit of £355,531 (2023.. £388. 964) was reported for the year. Funds
carried fonward total £335,240 (2023.. £690, 771), of which £328,843 (2023.. £648,082) are unrestricted funds
and £6,397 (2023.. £42, 689) are restricted funds.
a. GOING CONCERN
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate
resou rces to contin ue i n operational existence for the foreseeable futu re. For th is reason they contin ue to adopt
the going concern basis in preparing the financial statements.
b. PRINCIPAL RISKS AND UNCERTAINTIES
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the
operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate
our exposure to the major risks.
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management
a. CONSTITUTION
The company is registered as a charitable company limited by guarantee, incorporated on 28th May 1998. The
Trust was formed under a Memorandum of Association which estab5ished the objectives and powers of the
charitable company and is governed under Articles of Association. In the event of the Trust being wound up
members are required to contribute an amount not exceeding £10.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the company is the responsibility of the Trustees who are elected and co-opted under the
terms of the Trust deed.
The Trustees are appointed by resolution of the Members as set out in the Trust's Articles and are elected to
serve and promote the Trust's objectives.
The Trustees throughout the year were..
Dr M C Faulkes
Dr E J Futcher
Ms A R Heward
Mr G A Innes
TRUSTEES. RESPONSIBILITIES STATEMENT
The Trustees {who are also the directors of the Dill Faulkes Educational Trust Limited for the purposes of
company law) are responsible for preparing the Trustees, Report including the Strategic Report 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. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the charitable company and of its incoming resou rces 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 accou nting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP.,
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK 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 u nless it is inappropriate to presu me that the
charity will contin ue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the charity's transactions and d isclose with reasonable accu racy at any time the financial position of the charity
and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also
responsible for safeg uarding the assets of the charity and hence for taking reasonable steps for the prevention
and detection of fraud and other irreg ularities.
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THE DILL FAULKES EDUCATIONAL TRUST UMITED
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 PaARCH 2024
This report was approved by the Ttustees on ....
and signed on their behalf by.
C Faulkes
Trustee
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DILL FAULKES
EDUCATIONAL TRUST LIMITED I'the charity'l
I report to the charity Trustees {who are also Directors for the purpose of company law) on my examination of
the financial statements of Dill Faulkes Educational Trust Limited {the charitable company) for the year ended
31 March 2024 which comprise of the Statement of Financial Activities, the Balance Sheet and related notes.
This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities
Act 2011. My work has been undertaken so that I might state to the charitls trustees those matters l am
required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not
accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my
work, for this report, or for the opinions I have formed.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the charitable company you are responsible for the preparation of the Financial Statements
in accordance with the requirements of the Companies Act 2006 {'the 2006 ACY).
Having satisfied myself that the financial statements of the charitable company are not required to be audited
under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of
the charity's financial statements carried out u nder section 145 of the Charities Act 2011 {'the 2011 Act,) and in
carrying out my examination I have followed the directions given by the Charity Commission under section
14515){b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe..
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act.,
or
the accounts do not accord with those records., or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accou nti ng and reporti ng by charities lapplicable to charities prepari ng thei r
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Dated.. 29 January 2025
Charlotte Willmore BFP ACA
Wilder Coe Ltd
1 st Floor Sackville House
143-149 Fenchurch Street
London
EC3M 6BL
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THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
INCOME FROM:
Donations, legacies and grants
Other trad ing activities
11,304
52,884
49,980
61,284
52,884
59,106
TOTAL INCOME
64,188
49,980
114,168
59,106
EXPENDITURE ON:
Charitable activities
16,734
33,131
85,432
102,166
33,131
719,423
64,466
Support costs
TOTAL EXPENDITURE
49,865
85,432
135,297
183,889
NET INCOMEIIEXPENDITUREI
BEFORE
INVESTMENTILOSSESIIGAINS
Net losses on investments
14,323
1334,4021
135,4521
121,1291
1334,4021
(724, 783)
(264, 181)
NET EXPENDITURE
1320,0791
135,4521
1355,5311
(388, 964)
Transfers bebNeen funds
840
18401
NET MOVEMENT IN FUNDS
1319,2391
136,2921
1355,5311
(388. 964)
RECONCILIATION OF FUNDS:
Total funds brought forward as
previously stated
Prior year adjustment
648,082
42,689
690,771
903,692
7 76,043
Total funds brought forward as
restated
648,082
1319,2391
42,689
136,2921
690,771
1355,5311
7,079, 735
(388, 964)
Net movement in funds
TOTAL FUNDS CARRIED FORWARD
328,843
6,397
335,240
690, 771
All activities relate to continu ing operations.
The Statement of Financial Activities includes all gains and losses recogn ised in the year.
The notes on pages 16 to 24 form part of these financial statements.
Page13

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
REGISTERED NUMBER: 03571924
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
FIXED ASSETS
Investments
1,331
7, 332
CURRENT ASSETS
Debtors
10
45,573
215,549
76,499
52,297
549,951
91,346
Investments
Cash at bank and in hand
337,621
693,594
CREDITORS: amounts falling due within
one year
12
13,7121
(4, 155)
NET CURRENT ASSETS
333,909
689,439
NET ASSETS
335,240
690. 771
CHARITY FUNDS
Restricted funds
13
6,397
328,843
42, 689
648,082
Unrestricted fu nds
13
TOTAL FUNDS
335,240
690, 777
Page 14

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
(A Company Limited by Guardntee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The Trustees consider that the company is enttued to exemption from the requirement to have an audit under
the provisions of section 477 of the Companies Act 2006 Clhe Act.? and the members have not required the
company to obtain an audit for the year in question in ac¢ordancE with sertion 476 of Companies Act 2006.
The members have not required the company to obtsin an audTt for the year in quests'on in accordan￿ with
section 476 of Companies Act 2006.
The Trustees athowledge their responsibilities for compl5fj.ng with the requirements of the Companies Act 2006
with respect to accounting records and preparation of financial ststements.
The financial statements have been prepared and delivered in accordance with the provisions applicable to
entitses subject to the small companies regime.
29 January 2025
The financial statements were approved and authorised for issue by the Trustees on .........................................
ce Lk*s
C Faulkes
Trustee
The notes on pages 16 to 24 form part of these financial statements.
Page 15

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
GENERAL INFORMATION
The Dill Faulkes Educational Trust Limited {company number.. 03571924), having its registered office at
1st Floor, Sackville House, 143-149 Fenchurch Street, London, EC3M 6BN, is a private limited company
incorporated in England and Wales. The principal place of business is Eastwoods, The Chase, Oxshott,
Surrey, KT22 OHR.
ACCOUNTING POLICIES
2.1 Basis of preparation of financial statements
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 U K and Repu blic of I reland {FRS
102) {effective 1 January 2015) and the Companies Act 2006.
The Dill Faulkes Educational Trust Limited 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.
2.2 Company status
The company is a company limited by guarantee. The members of the company are the Trustees
named on page 1. In the event of the company being wound up, the liability in respect of the
guarantee is limited to £10 per member of the company.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either.. the company is aware
that probate has been granted, the estate has been finalised and notification has been made by the
executor{s) to the Trust that a distribution will be made, or when a distribution is received from the
estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be
measured reliably and the company has been notified of the executor's intention to make a
distribution. Where legacies have been notified to the company, or the company is aware of the
granting of probate, and the criteria for income recognition have not been met, then the legacy is
treated as a contingent asset and d isclosed if material.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of
income received for specific purposes but not expended during the period is shown in the relevant
funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its
recognition is deferred and included in creditors as deferred income. Where entitlement occurs
before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
Page16

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES lcontinuedl
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably.
Charitable activities and Governance costs are costs incurred on the academy trust's educational
operations, including support costs and costs relating to the governance of the company apportioned
to charitable activities.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such g rants being recogn ised as expend itu re when the conditions attach ing are
fulfilled. Grants offered su bject to cond itions wh ich have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
2.5 Statement of Cash Flows
The company has taken advantage of the exemption in Financial Reporting Standard 102,
paragraph 7.1 B, from the requirement to produce a Statement of Cash Flows on the grounds that it
is a small charitable company.
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date. Investment
gains and losses, whether realised or unreaSised, are combined and shown in the heading
'Gains/{losses) on investments, in the Statement of Financial Activities incorporating Income and
Expenditure Account.
All investments are held primarily to provide an investment retu rn for the charity.
Investments in associates are stated at the amount of the charity's share of net assets. The
Statement of Financial Activities includes the charitls share of the associated companies, net
income or expenditure using the equity accounting basis. As the associate is a charity, the
investment is presented with in restricted fu nds.
2.7 Current asset investments
Current asset investments are recognised at fair value. The Statement of Financial Activities
includes the net gains and losses arising on revaluation and d isposals th roughout the year.
2.8 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the company., th is is normally upon notification of the interest paid or payable by the Ban k.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page17

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES lcontinuedl
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.11 Creditors and provisions
Cred itors and provisions are recog nised when there is an obligation at the Balance Sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be req uired in settlement,
and the amou nt of the settlement can be estimated reliably. Liabi lities are recog nised at the amount
that the company anticipates it will pay to settle the debt or the amou nt it has received as advanced
payments for the goods or services it must provide. Provisions are measured at the best estimate of
the amounts required to settle the obligation. Where the effect of the time value of money is
material, the provision is based on the present value of those amounts, discounted at the pre-tax
discount rate that reflects the risks specific to the liability. The unwinding of the discount is
recog nised with in interest payable and similar charges.
2.12 Foreign currencies
Monetary assets and liabilities denominated in foreig n cu rrencies are translated into sterling at rates
of exchange ruling at the Balance Sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities incorporating
Income and Expenditure Account.
2.13 Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the company is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.14 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and
su bseq uently measured at their settlement value.
2.15 Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the d iscretion of the
trustees.
Restricted funds can only be used for particu lar restricted purposes with in the objects of the charity.
Restriction arises when specified by the donor or when funds are raised for particular restricted
purposes.
Page18

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INCOME FROM DONATIONS, LEGACIES AND GRANTS
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Grants
11,304
49,980
61,284
Income from donations, legacies and grants totaled £61,284 (2023.. £Nil), of which £11,304 related to
unrestricted funds (2023.. £Nil) and £49,980 related to restricted funds (2023.. £Nil).
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Telescope time
52,884
52,884
59, 106
All income from other trading activities d uring the cu rrent and previous year was u nrestricted.
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Project - Europlanet
Project- EXPLORE
Other charitable activities
65,775
8,453
3,107
8,097
65,775
8,453
19,841
8,097
77,946
25, 729
5, 864
75,884
16,734
Project - Lascil
Total 2024
16,734
85,432
102,166
119,423
Total 2023
5.864
113,559
119,423
Page19

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
OTHER EXPENDITURE
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Legal & professional fees
Bank charges
Sundry expenses
Subscriptions
Foreign exchange difference
Bad debt expense
26,149
479
26,149
479
79,817
422
1771
293
1771
293
24
6,286
6,286
(137)
44,339
33,130
33,130
64.466
Total 2023
64,466
64,466
INDEPENDENT EXAMINER'S REMUNERATION
2024
2023
Fees payable to the charitls independent examiner for the independent
examination of the charity's an nual accounts
1,086
7,086
Fees payable to the charitls independent examiner in respect of..
All accountancy services not included above
1,674
7,560
NET IOUTGOINGIIINCOMING RESOURCES
During the year, 1 Trustee, Ms A R Heward, received remuneration or other benefits totalling £17,380
{2023 - £18,480). Remuneration was paid in respect of management services provided for Europlanet
Media Centre, as agreed in a board meeting by the other trustees.
During the year ended 31 March 2024, expenses totalling £5,460 (2023.. £827) were reimbursed to 1
{2023- 1) trustees. Expenses reimbursed related to subscription payments and general costs.
Page 20

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FIXED ASSET INVESTMENTS
Investments
in joint
venture
companies
Investments
in subsidiary
companies
Total
Cost or valuation
At 1 April 2023
Disposals
1,331
1,332
At 31 March 2024
1,331
1,331
Net book value
At 31 March 2024
1,331
1,331
At 31 March 2023
1,337
7, 332
Page 21

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. DEBTORS
2024
2023
Due within one year
Prepayments and accrued income
Grants receivable
1,305
44,268
7, 238
57,059
45,573
52,297
11. CURRENT ASSET INVESTMENTS
2024
2023
Listed investments
215,549
549.951
Listed investments
The market value of the listed investments at 31 March 2024 was £215,549 (2023.. £549, 957).
12. CREDITORS: Amounts falling due within one year
2024
2023
Trade creditors
952
7, 509
2, 646
Accruals and deferred income
2,760
3,712
4, 155
Page 22

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. SUMMARY OF FUNDS- CURRENTYEAR
Balance at 1
April 2023
Transfers
inlout
Gainsl
ILossesl
Balance at 31
March 2024
Income
Expenditure
Unrestricted
funds
General Funds
all funds
648,082
64,188
149,8651
840
1334,4021
328,843
Europlanet
Explore
LaSciL
35,118
7,571
30,701
3,212
12,120
165,7751
18,4531
18,0971
2,330
4,023
Other restricted
funds
3,947
13,1071
18401
Restricted
funds
42,689
49,980
185,4321
18401
6,397
Total
690,771
114,168
1135,2971
1334,4021
335,240
Purpose of funds:
Unrestricted funds: These funds can be used in accordance with the Charitls objectives, at the
discretion of the Trustees.
Restricted funds:
Euro
The Europlanet 2024 Research I nfrastructu re {Rl) provides free access to the world's largest collection
of planetary simulation and analysis facilities, data services and tools, a ground-based observational
network and programme of community support activities. The project is funded through the European
Commission's HorEon 2020 programme and runs for four years from February 2020 until July 2024.
EXPLORE
EXPLORE is a 2 million Euro project funded by the European Commission through the Leadership in
Enabling Industrial Technology {LEIT) and Space programme in Horizon 2020. The project is developing
six novel applications that use artificial intelligence IAI) and visual analytics to exploit the vast datasets
generated by astrophysics and planetary missions.
LaSciL
The National Agency has decided to award a grant for the project entitled Large Scientific I nfrastructures
Enriching Online and Digital Learning under the Erasmus+ Programme in order to support teachers to
become literate and fluent with the use of h ig h q uality d ig ital tools.
Page 23

THE DILL FAULKES EDUCATIONAL TRUST LIMITED
IA Company Limited by Guaranteel
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. SUMMARY OF FUNDS
Summary of funds - current year
Balance at 1
April 2023
Transfers
inlout
Gainsl
ILossesl
Balance at 31
March 2024
Income
Expenditure
General funds
648,082
64,188
149,8651
840
1334,4021
328,843
Restricted
funds
42,689
49,980
185,4321
18401
6,397
690,771
114,168
1135,2971
1334,4021
335,240
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Analysis of net assets between funds - current period
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Fixed asset investments
1,331
331,224
{3,712)
1,331
337,621
13,7121
Current assets
6,397
Cred itors d ue within one year
Total
328,843
6,397
335,240
Analysis of net assets between funds - prior period
Unrestricted Restricted
funds
funds
2023
2023
Total
funds
2023
Fixed asset investments
7,332
650, 905
(4, 155)
7, 332
693,594
(4, 155)
Current assets
42, 689
Cred itors d ue within one year
Total
648, 082
42, 689
690, 771
16. ULTIMATE CONTROLLING PARTY
As of 31 March 2024 and 31 March 2023 there was no ultimate controlling party of the charity.
Page 24