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2025-12-31-accounts

REGISTERED COMPANY NUMBER: 07112241 (England and Wales) REGISTERED CHARITY NUMBER: 1135262

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THE FAVERSHAM SOCIETY (A COMPANY LIMITED BY GUARANTEE)

McCabe Ford Williams Chartered Accountants and Statutory Auditors Charlton House Dour Street DOVER Kent CT16 1BL

THE FAVERSHAM SOCIETY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 7
Report of the Independent Auditors 8 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 22
Detailed Statement of Financial Activities 23 to 24

THE FAVERSHAM SOCIETY

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2025

TRUSTEES K Begg (resigned 28.10.25) J R Carey H Goodwin A J Holden B Kelsey (resigned 6.6.25) L McMahon (resigned 12.6.25) A L Salmon T D Stonor J West H Wootton M Hatchwell J Davidson (resigned 12.6.25) J L Secker L Allison A M Furedi A Kurt-Dickson (appointed 12.6.25) J Spencer (appointed 28.10.25) H Knight (appointed 12.6.25) N Tonge (appointed 12.6.25) REGISTERED OFFICE 10-13 Preston Street FAVERSHAM Kent ME13 8NS

REGISTERED COMPANY 07112241 (England and Wales) NUMBER REGISTERED CHARITY 1135262 NUMBER

AUDITORS McCabe Ford Williams Chartered Accountants and Statutory Auditors Charlton House Dour Street DOVER Kent CT16 1BL

Page 1

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Society is established for the public benefit for the following purpose in the area comprising Faversham and its surroundings , referred to as the "area of benefit".

i) to educate the public in the geography, history, natural history and architecture of the area of benefit.

ii) to secure the preservation, protection, development and improvement of features of historic or public interest in the area of benefit.

iii) to preserve for the people of the area and of the nation, the historic architecture and constructional heritage that may exist in the area of benefit in buildings (including any building defined in Section 336 of the Town & Country Planning Act 1990) of particular beauty or historical, architectural or constructional interest.

iv) to promote high standards of planning and architecture in or affecting the area of benefit.

Significant activities

The Society owns, maintains and operates a complex of buildings in Preston Street known collectively as the Fleur de Lis Heritage Centre. The complex contains:

The Society rents space for its VIC and shop on the ground floor of the Town Hall in the marketplace.

The Society produces a monthly newsletter that is available to members in hard copy, by email or through the website www.faversham.org

The Society also publishes an annual review of all its activities, compiled from the written reports of those responsible for designated functions and activities, e.g. the well regarded "Secret Garden" scheme, the Town Walks, the Museum, the work of the "Faversham Historians" and the Environment and Planning committee. This report is distributed to all members free of charge and is available online.

Page 2

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

OBJECTIVES AND ACTIVITIES

Public benefit

The Society is one of the largest and most active civic societies with an expanding membership which currently represents 4% of the town's population. The Society continues to pursue the wide range of activities of earlier years, including the provision of help, advice and information to the general public.

The Trustees confirm that they have complied with Section 4 of the Charities Act 2011 in having due regard for the Charity Commission's general guidance on public benefit and the charity's aims and objectives.

Volunteers

The Society has no paid staff, and relies upon its volunteers, who give generously of their time and expertise to enable the Society to achieve its aims and objectives.

Page 3

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

ACHIEVEMENTS AND PERFORMANCE

Charitable activities and future plans

The Society has carried out a significant number of events and activities in line with our objectives this year.

A Programme of monthly meetings for members, and paying members of the public, was launched with huge success. Invited external speakers drew audiences of up to 100 people to discuss local history, in the context of artifacts in the Museum (such as the collection of Witch bottles) historic events and buildings.

A talk on the notorious 16th Century conspiracy to murder mayor, Thomas Arden, which became the subject of a play now considered an early work of Shakespeare was notable and highly relevant to the coming work of the Society, which was grateful to benefit this year from the generous bequest of the notable Arden House property, which had been the home of one the Founders of the Faversham Society. The property has enormous historic significance to the town, being constructed as a residence from part of the town's Abbey, destroyed in the Reformation. The Society is fortunate to have among its Board members, individuals with expertise in heritage building and architecture, archeology and medieval history, who have begun work leading a review of what Arden's House represents historically and architecturally. The bequest represents a significant increase to the Society's assets, and imposes a tremendous responsibility for stewardship and future use of this unique property for the benefit of the town.

Maintaining public memory of local tradition and historic practices, and education pertaining to this, led the Society to gain a higher than usual media prominence, when its support for a small local charity's campaign to resist a local authority plan to change the name of path, known informally from the 16th century as the Shooting Meadows Path. The original name reflected the path's proximity to land where local men had once been compelled by law to practice archery. The Society considered the name to be an important and enduring link with the past and helped organise public support through a petition, leading to leave the path to be referred to as it had for centuries.

The Museum, which sits at the heart of the Society, has benefited from substantial renovation and reorganisation to promote some unique artifacts and local collections. One example of its work connecting local residents to history is the collaboration of the Faversham Society Archeological Group with Kent Archeology Society and a coastal project to coordinate a community dig. It involved almost all local schools to excavate the site of several former homes on the Creek. In the coming year the 'finds' will be displayed in an special exhibition.

Substantial work has also begun on Chart Mills, a former site for gun-powder production, which though owned by Swale Borough Council, is stewarded and maintained by Faversham Society volunteers.

The programme of Town walks has been expanded to include themed walks and specialist tours as well as regular public walks.

The Society has been responding to the challenge of our changing environment, and demonstrating the need for local input into the expansion of the town occurring as a result of inappropriate local housing development in collaboration with the Faversham Creek Trust and the Town Council.

More volunteers than ever are engaged in our work, and the Society is indebted to all - Trustees, managers and those who staff the book shop and Visitor Information Centre, organise activities such as the popular town walks and archaeological digs, study planning applications, submit responses on our behalf, and maintain the museum collections, archives and libraries, and who write edit and produce the newsletters and reports.

The challenge for 2026 is to engage with residents who are new to Faversham and draw them in to our 'spirit of place', continue improvements to our Museum facilities, assess and invest in maintenance of the Arden's House, and consider further projects which fall within our charitable remit.

Page 4

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

FINANCIAL REVIEW

Financial review

The Society has recorded another good year, thanks to the continued efforts of all of our volunteers, with income from all our diverse resources reaching £130k. Our bookshop raised almost £42k, we also collected a little under £4K from donations from visitors to the museum and a further approx. £7k from activities and walks. We continued to benefit from higher interest rates which brought in £30k of bank interest, and our expenditure was well within budget. During the year the Society gratefully received Ardens House at a valuation of £932k plus John Hobbs bequest of £125k, under accounting practice both these donations are brought into our accounts as Income, which results in a surplus of £1,004K for the year.

During the year we have continued to invest in the repair and maintenance of our buildings.

The Trustees will continue adhere to the principles of proper budgetary control and financial management in 2026 and future years in order to provide a firm financial basis for the continuance of the conservation and education work of the Society.

The Trustees acknowledge with thanks the legacies, grants and donations to the Society from: the Estate of Roy Pleasance - Ardens House, John Hobbs £125k and Sir John Swire 1989 Charitable Trust and the collaborative financial work with Faversham Town Council.

Reserves policy

The Trustees consider that an appropriate minimum level of free reserves should be an amount representing six months core expenditure. This allows some flexibility for the Society to deal with delays or withdrawal of funding, or unexpected additional costs. The level of free reserves (net current assets) at the balance sheet date is £887,176 (2024 - £804,572) exceed the minimum requirement, providing financial stability to enable the Society to carry out its aims and objectives.

Free reserves included £55,475 (2024 - £56,393) held for restricted purposes.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Society is a company limited by guarantee, as defined by the Companies Act 2006. Its governing document is its Memorandum and Articles of Association, dated 23 December 2009, as agreed by Special Resolutions on 24 February 2010 and amended by Special Resolution on 23 April 2014 and 13 April 2016.

The charitable company has no share capital, but under the terms of the Memorandum of Association, every member is liable to contribute a sum not exceeding £10 in the event of the company being wound up while he or she is a member, or within one year after he or she ceases to be a member, for the payment of the debts and liabilities of the company contracted before he or she ceased to be a member, and the costs, charges and expenses of winding up.

Recruitment and appointment of new trustees

The Society typically circulates an invitation to all members to nominate trustees prior to the AGM, advising them of the retiring trustees and requesting nominations for the AGM. From time to time, the Board also reviews whether there are any additional or specialist skills that would be beneficial to have on the Board; it then seeks to identify potential new trustees who will bring those skills and the Board may then appoint new trustees. New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the Society.

Page 5

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The Society's governing body is the Board of Directors and Trustees, whose members are elected by the members of the Society. Trustees meet quarterly. Any resolutions submitted to a meeting shall be decided by a majority vote of the trustees present at a meeting, but the chairman shall have a second or casting vote. Minutes are taken at each meeting, circulated to trustees along with action points and responsibilities, and kept as a record.

A subcommittee of the Directors and Trustees meets as regularly as necessary to conduct the administration of the Society and reports to the Board. All policy decisions and planning interventions are passed by the full Board, by email if necessary.

Risk review

The Trustees have a duty to identify and review risks to which the Society is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The following are the key risks deemed by the trustees to be facing the Society:

All risks are managed by monitoring by the trustees. Financial risk is monitored via the finance committee by means of a simplified presentation of management accounts for easier understanding by the Board.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Faversham Society for the purposes of company law) 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

Page 6

THE FAVERSHAM SOCIETY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................

A M Furedi - Trustee

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE FAVERSHAM SOCIETY

Opinion

We have audited the financial statements of The Faversham Society (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, 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 charitable company'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 Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE FAVERSHAM SOCIETY

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE FAVERSHAM SOCIETY

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Other matters which we are required to address

The corresponding figures for the year ended 31 December 2024 are unaudited.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

McCabe Ford Williams Chartered Accountants and Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Charlton House Dour Street DOVER Kent CT16 1BL

Date: .............................................

Page 10

THE FAVERSHAM SOCIETY

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Charitable activities
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Charitable activities
7
Charitable activities
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
1,080,169
26,516
41,815
39,320
1,187,820
183,351
1,004,469
1,232,243
2,236,712		 Restricted
funds
£
-
-
-
-
-
918
(918)
56,393
55,475		 2025
Total
funds
£
1,080,169
26,516
41,815
39,320
1,187,820
184,269
1,003,551
1,288,636
2,292,187		 2024
Total
funds
£
21,825
23,310
40,874
39,154
125,163
97,733
27,430
1,261,206
1,288,636

The notes form part of these financial statements

Page 11

THE FAVERSHAM SOCIETY

BALANCE SHEET 31 DECEMBER 2025

Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Stocks
15
Cash at bank
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
18
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2025
£
1,405,011
4,111
885,879
889,990
(2,814)
887,176
2,292,187
2,292,187
2,236,712
55,475
2,292,187		 2024
£
484,064
3,758
800,814
804,572
-
804,572
1,288,636
1,288,636
1,232,243
56,393
1,288,636

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. A M Furedi - Trustee

The notes form part of these financial statements

Page 12

THE FAVERSHAM SOCIETY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
54,450
54,450
30,615
30,615
85,065
800,814
885,879		 2024
£
7,160
7,160
30,467
30,467
37,627
763,187
800,814

The notes form part of these financial statements

Page 13

THE FAVERSHAM SOCIETY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2025 2024
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 1,003,551 27,430
Adjustments for:
Depreciation charges 11,653 10,099
Interest received (30,615) (30,467)
Donation of Arden's House (932,600) -
(Increase)/decrease in stocks (353) 98
Increase in creditors 2,814 -
Net cash provided by operations 54,450 7,160

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.1.25
£		 Cash flow
At 31.12.25
£
£
Cash at bank 800,814 85,065
885,879
800,814 85,065
885,879
Total 800,814 85,065
885,879

The notes form part of these financial statements

Page 14

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. GENERAL INFORMATION

The Faversham Society is a company limited by guarantee in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the Report of the Trustees of these financial statements. The nature of the charity's operations and principal activities are to educate the public in the geography, history, natural history and architecture in the Faversham and surrounding areas.

The presentational currency is pound sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

The trustees are of the view that the charity holds sufficient reserves to fund activities for several years in the absence of any income, and so the going concern basis is appropriate.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

All grants, donations and legacies are accounted for gross when receivable. Donations and legacies of land and buildings are recognised at fair value at the date ownership is transferred. Where market values are not readily available, valuations are obtained from independent professional valuers.

Income from other charitable activities are accounted for when earned.

No amount is included in the financial statements for volunteer time in line with SORP (FRS 102). Further detail is given in the Report of the Trustees.

Expenditure and creditors

Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.

Charitable activities comprise those costs incurred by the charity in the delivery of its activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the cost of preparing the annual accounts and independent examiners fee.

Creditors with no stated interest rate and payable within one year are recorded at transaction price.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

continued...

Page 15

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Land and buildings - 2% on cost (buildings) and nil (land) Office equipment - 20% on cost

Stocks

Stock consists of publications and memorabilia and is valued at the lower of cost and net realisable value. No account has been taken of donated second hand book stocks at the year end.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Heritage assets

The Society holds a number of heritage assets which are not included on the balance sheet, being items held on display in the Fleur de Lis Heritage Centre. The trustees consider that the cost of valuing the assets would be onerous compared to the benefits. They are held for the benefit of the charity and are not likely to be realised for cash.

3. DONATIONS AND LEGACIES

Donations and gifts
Members subscriptions
Fundraising activities
4.
OTHER TRADING ACTIVITIES
Fundraising events
5.
INVESTMENT INCOME
Rents received
Deposit account interest		 2025
£
1,062,320
10,368
7,481
1,080,169
2025
£
41,815
2025
£
8,705
30,615
39,320		 2024
£
9,454
8,937
3,434
21,825
2024
£
40,874
2024
£
8,687
30,467
39,154

continued...

Page 16

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Shop sales and commission
Charitable activities
Museum admissions
Charitable activities
Hall hire and car park rental
Charitable activities
7.
CHARITABLE ACTIVITIES COSTS
Charitable activities
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Water rates
Insurance
Electricity and gas
Photocopying and stationery
Postage and telephone
Advertising and promotions
Repairs and maintenance
Books, gifts, etc
Conservation and acquisition
Faversham outreach
Open Faversham
Archaeology
Development appeal costs
9.
SUPPORT COSTS
Finance
£
Charitable activities
634		 2025
£
22,164
3,752
600
26,516
Direct
Support
Costs (see
costs (see
note 8)
note 9)
£
£
166,132
18,137
2025
£
5,163
14,878
10,647
3,493
7,463
1,736
86,720
12,615
5,227
17,657
-
533
-
166,132
Governance
Other
costs
£
£
11,653
5,850		 2024
£
17,813
5,017
480
23,310
Totals
£
184,269
2024
£
4,805
13,933
11,202
4,567
3,057
2,232
17,623
13,137
2,796
3,972
1,936
1,397
3,540
84,197
Totals
£
18,137

continued...

Page 17

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

10. OTHER

OTHER
2025 2024
£ £
Support costs 18,137 13,536

11. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration 2025
2024
£
£
4,800
-
Depreciation - owned assets 11,653
10,099
Independent examiners fee -
1,542
Legal fees -
795

12. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other trading activities
Investment income
Total
EXPENDITURE ON
Charitable activities
Charitable activities
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
21,825
23,310
40,874
39,154
125,163
97,213
27,950
1,204,293
1,232,243		 Restricted
funds
£
-
-
-
-
-
520
(520)
56,913
56,393		 Total
funds
£
21,825
23,310
40,874
39,154
125,163
97,733
27,430
1,261,206
1,288,636

continued...

Page 18

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

14. TANGIBLE FIXED ASSETS

COST
At 1 January 2025
Additions
At 31 December 2025
DEPRECIATION
At 1 January 2025
Charge for year
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024		 Land and
buildings
£
617,827
932,600
1,550,427
135,849
10,610
146,459
1,403,968
481,978		 Office
equipment
£
14,249
-
14,249
12,163
1,043
13,206
1,043
2,086		 Totals
£
632,076
932,600
1,564,676
148,012
11,653
159,665
1,405,011
484,064

Land with a market value of £165,000 is not depreciated.

Property held for investment purposes forms part of the building capitalised and held for charitable purposes. The investment property component has not been shown separately as the fair value of the component cannot be measured reliably without undue cost or effort.

The land and buildings addition made within the year relates to the acquisition of Arden's House. A valuer was used to provide a market value of the property at the date ownership was transferred.

15. STOCKS

Stocks
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
17.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
funds
funds
£
£
Fixed assets
1,405,011
-
Current assets
834,515
55,475
Current liabilities
(2,814)
-
2,236,712
55,475		 2025
£
4,111
2025
£
2,814
2025
Total
funds
£
1,405,011
889,990
(2,814)
2,292,187		 2024
£
3,758
2024
£
-
2024
Total
funds
£
484,064
804,572
-
1,288,636

continued...

Page 19

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property Restoration fund
Legacies fund
Arden's House
Restricted funds
Arden's House
Land Fund
Museum Fund
TOTAL FUNDS
Net movement in funds, included in the above ar
Unrestricted funds
General fund
Property Restoration fund
Legacies fund
Restricted funds
Arden's House
TOTAL FUNDS		 At 1.1.25
£
688,611
67,208
471,424
5,000
1,232,243
371
46,075
9,947
56,393
1,288,636
e as follows:		 Net
movement
in funds
£
9,537
(57,766)
1,052,698
-
1,004,469
(918)
-
-
(918)
1,003,551
Incoming
resources
£
130,057
-
1,057,763
1,187,820
-
1,187,820		 Transfers
between
funds
£
(50,000)
50,000
-
-
-
46,075
(46,075)
-
-
-
Resources
expended
£
(120,520)
(57,766)
(5,065)
(183,351)
(918)
(184,269)		 At
31.12.25
£
648,148
59,442
1,524,122
5,000
2,236,712
45,528
-
9,947
55,475
2,292,187
Movement
in funds
£
9,537
(57,766)
1,052,698
1,004,469
(918)
1,003,551

continued...

Page 20

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Property Restoration fund
Legacies fund
Arden's House
Restricted funds
Arden's House
Land Fund
Arthur Percival Memorial
Museum Fund
TOTAL FUNDS		 At 1.1.24
£
665,661
67,208
471,424
-
1,204,293
371
46,075
520
9,947
56,913
1,261,206		 Net
movement
in funds
£
22,950
-
5,000
-
27,950
-
-
(520)
-
(520)
27,430		 Transfers
between
funds
£
-
-
(5,000)
5,000
-
-
-
-
-
-
-		 At
31.12.24
£
688,611
67,208
471,424
5,000
1,232,243
371
46,075
-
9,947
56,393
1,288,636

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Legacies fund
Restricted funds
Arthur Percival Memorial
TOTAL FUNDS		 Incoming
resources
£
120,163
5,000
125,163
-
125,163		 Resources
Movemen
expended
in funds
£
£
(97,213)
22,950
-
5,000
(97,213)
27,950
(520)
(520)
(97,733)
27,430

Restricted funds

The Arden's House fund was set up to provide for the prevention of deterioration to the fabric of Arden's House.

The Land fund was set up to preserve for posterity selected sites within the Faversham area.

The Arthur Percival Memorial fund is a fund set up in memory of the late Arthur Percival, to preserve the archives of the late Arthur Percival for active use in the Society's educational programme.

The Museum Fund comprises of a legacy received and will be used for the preservation and display of the Osborn plaque collection and to preserve free entry to the museum with donation boxes for visitors.

Designated funds

Property restoration fund is to prevent the deterioration of the properties.

The Legacies fund comprises legacies received by the charity which are designated by the trustees for a particular purpose.

continued...

Page 21

THE FAVERSHAM SOCIETY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.

Page 22

THE FAVERSHAM SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations and gifts
Members subscriptions
Fundraising activities
Other trading activities
Fundraising events
Investment income
Rents received
Deposit account interest
Charitable activities
Shop sales and commission
Museum admissions
Hall hire and car park rental
Total incoming resources
EXPENDITURE
Charitable activities
Water rates
Insurance
Electricity and gas
Photocopying and stationery
Postage and telephone
Advertising and promotions
Repairs and maintenance
Books, gifts, etc
Conservation and acquisition
Faversham outreach
Open Faversham
Archaeology
Development appeal costs
Support costs
Finance
Bank charges		 2025
£
1,062,320
10,368
7,481
1,080,169
41,815
8,705
30,615
39,320
22,164
3,752
600
26,516
1,187,820
5,163
14,878
10,647
3,493
7,463
1,736
86,720
12,615
5,227
17,657
-
533
-
166,132
634		 2024
£
9,454
8,937
3,434
21,825
40,874
8,687
30,467
39,154
17,813
5,017
480
23,310
125,163
4,805
13,933
11,202
4,567
3,057
2,232
17,623
13,137
2,796
3,972
1,936
1,397
3,540
84,197
1,100

This page does not form part of the statutory financial statements

Page 23

THE FAVERSHAM SOCIETY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Finance
Other
Buildings depreciation
Office equipment depreciation
Governance costs
Auditors' remuneration
Independent examiner's fees
Legal fees
Total resources expended
Net income		 2025
£
10,610
1,043
11,653
4,800
-
1,050
5,850
184,269
1,003,551		 2024
£
9,056
1,043
10,099
-
1,542
795
2,337
97,733
27,430

This page does not form part of the statutory financial statements

Page 24