Fqmhom School ol Science ond Arl,. Trustee Report & Accounts lor yeor ending 3151 March 2022 Charity Commission Nutnber- 1146152 OOUTH aTQtEET TRUBT FARNHAM SCHOOL OF SCIENCE AND ART also known as THE FARNHAM SOUTH STREET TRUST TRUSTEE'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 ST MARCH 2022
Fafnhom School ol Science and Arl.. Trustee Report & Accounls lor year ending 3151 Morch 2022 CONT Page Legal and admlnistritiye Informa¢lon Trustee's report Statement ol trustee's responsibilities Independent eximiner's report Statement of financial activities Bance sheet Notes to the accounts
Farnham School ol Science and Arl.. Truslee Report & Accounts lor year ending 3151 March 2022 LEGAL AND ADMINISTR FORMAT Charity Number 1146152 Trustee Farnham Town Council Principal addres5 Council Office5 South Streec Farnham Surrey GU9 7RN Bankers HSBC 33 The Borough Farnham Surrey GU9 7N Independent Examlner . l. Smith, FCA Milne Eldridge & Co 88A West Street Farnham Surrey GU9 7EN
Farnham Schoo10[ Science and Arl.. Trusleg Report & Accounts for yeor ending 3151 Maich 2022 TRU E'S REPO OR THEY ENDED 3 RCH 202 The trustee present5 It5 report and accounts for rhe year ended 31. March 2022 The accounts have been prepared in accordance with the iccounting policies set out in note I to the account5 and comply with thÈ trust's deed of trust, the Statement of Recommended Practice.. "Accounting and Reportlng by Charities" (FRS 1021, applicable accounting standards, and the Chartties Act 2011. Administrative Detail$ of the Chari ustee The name of the charity is the Farnham School of Science and Art and It Is also l<nown as the Farnham South Street Trust. Farnham Town Council is the trustee of the charity. The Council members who collectively acted ès trustee to the charity during the year ended 31. March 2022 were as follow5.. D. Attfield D. Beaman R. Blishen Mrs C. Cocl<burn Ms S. Dicl(50n Mrs P. Dunsrnore A. Earwaker B. Edmonds Mrs P. Evans l. Fraser G. Hesse MacLeod Ms M. Martin M. Merryweither Mr5 K. Mirylees Nele l. Ward Ms M Vvicks Details of the charity's correspondence address. bankers and of its independent examiner are set out on page l. There are no solicitors or financial advisers appointed by the charity. ture overnance and man ement The trus¢ was orlginally formed in 1880 by the ol a property to trustees as an art school. With the later sale of the property che proceeds have been invested with the Income being applied in promoting che educadon in art and allied subjects ol persons residing or Studying in Farnham. The Trustee reviews the investment of the charitls assets on a regular basis. The governing docutllellt is The Charity Commission Scheme dated l O March 1980 which was amended by The Charity Commission Scheme dated 19 lune 1998. A5 noted above Ftrnham Town Council is the trustee ol the charity and members of the Council 51c ex-officio when the Council meets as trustee. Ob'ecti activit'e The objective ol the charity 15 to apply the incorne of the charity In promoting in such ways a5 It thinks fit, the education in art and allied subjects of persons residing or studying In FnhaM in the County of Surrey. In furtherance of this objective, the charity makes grants to schoo15 and other organisations in the Farnham area to enable those orghni5ations to orgaftise educational worlc5hops and projects coyering art and 25sociated subject5 for the benefit of children and adults living or studying in the local area.
Famhom School ol Science and Art.. Trustee Report & Accounls for y&or ending 3151 March 2022 TR.ULTEE'S REPORT THE YEAR ENDED 3 1ST MARCH 2 Farnham Town Council meets annually as trustee to consider applicatlons for grants lor purposes which fall within the objective of the charity. In setting and carrying out the objective of the charity the trustee has had regard to the guldance issued by the Charity Commls51on on public benefi¢. chie ts and nce In order to achleve its objettSve, the charity made grints in re5pett ol the year ended 31. March 2022 to the followlng org3nisations'. Grants paid on or before 31 March 2022: Organisatlon Creative Response Ltd Enlerprise 19 Famham Art and Design Education Group IFADEGI Farnham M811ings Folly Hill Inlanl School Frensham Heights Hale Community Cenlrè New Ashgate Gallery Pollers Gale Primary School st Andrews Infant School Amount £1,500 £500 £goo £1,000 £700 £800 £1,000 £1,700 £1,000 £500 TOTAL £9,600
Fornharn School of Science and Arl.. Trustee Repoil & Accounts lor year ending 3151 March 2022 Finantia iew The charity's funds ire eurrently invested with Blackrocl< Investment Management {UKI Litnited. Funds are dlvided between two chariLy authori5ed inves¢ment funds specific311y designed to meet the investment needs of tharities. BlackRock Charities UK 8ond Fund aims to provide a high level ol income from fixed interest securitie5. BlackRock Charides UK Equity Fund aims to provide mediutn to long terrn capital and income appreclityon by investing mainly in UK listed companies. The income received by the charity from its investments during the year ended 31. March 2022 totalled £27,868 and as noted above it made grants amountlng to £9,600, in relation to grant applications for the 2021122 year. The value ol the charity's investtnents increased from £879,504 as at 31. March 2021 to £930.673 as at 31. March 2022. lan5 The trustee intends that the charity wlll continue providing grants in a similar way to the recent past in accordance with its objective. although it will monitor its investment carefully to Ènsure that the endowment is not depleted. Sign.. Print Name.. C11r Alan Earwaker For and on behalf of Farnham Town Council (the Trustee) Datsd.. CJ(-
Famhom School ol Sclence ond Art.. Trustee Reporl & Accounts ltsr year endlng 3151 Morch 2022 EMENTOF TRUST E'S RESPO IBILITI The Trustee is responsible lor preparing the trustee's repor¢ 2nd the financial statements in accordance with appllcable law and United Klngdom Accounting Standards. The law applicable to charities in England and Wales reqUIS trustees to prepire financial staternent5 lor each nnancial year which give a true &nd fair view ol the state of affairs of the charity and ol the incoming re50urce5 and application of resources of the charity for that pariod. In preparing these fInCIal statements, the trustee is required to.. select 5Uit2ble accounting policies and then apply them con51stently', observe the methods and principle5 of the Charities SORP, malce judgements and e5tlmate5 that a reasonable and prudent.. state whether applicable accountlng standard5 and statemenis ol recommended prattice have been followed, subject to any departures disclosed and explained in the account5., prepare the accounts on a going con¢em basis unless it is inappropriate to presume that the charity will continue in operation. The trustee is responsible lor keeping accounting record5 which disclose wlth reasonable accuracy the financial positlon of the charicy and which enable them to ensure that the financial statements comply with the Charities Act 201 l and the provlsions ol the crust deed. They are also responsible lor safeguarding the assets of the Trust and hence for talung reasonabla steps for the prevent¢on and detection of Iriud ind other irregularities.
Fornham 5chcx4 ol sc ond Art: Tnth6e Rewl & Accounts year gfKllru 31 March 21)22 I report to th? tStee on ry &Yaffllnation of the accounts of the Farnham Sthool d Sdence and Art br th¢ year ended 31° March 2021 As the dmrity trustee you are responsitde for the prefrqraw of the aCCCntS In accordance wlth the ulrements ofthe Ctharldes Aa 2011 Cthe l rnporr In r8sF4tt of my gyAmSnauon of the Trust's accounts (arrfd (wt under seLtb)n 145 dthe 201 l Att and In carylng out my exan3on I have fdlowd al the apF4d>le by the Charlty Commission under 5ecdon 145{5)(bl ol the Art I have completed my ey2minadon. l confirni that no rnateri matters have come to rny attentlon in conne£tlon with the exatY4tutyon gTrinz me cause tt) bdleve that in any rnater1 respec {1) accountlnl records were not kw in respKt ol the Trust as rwwired by sxtion 130 of the 2011 or 12) th• accounts do not accord with those ret<>rd4 or {3) th¢ a¢counts do rK>t compty the eppble ryurernents coneerning the form and content of ¥counts sat out in the Charities (Accounts and erts) Regulation$ 2¢X18 other than any requirement that the accounts we a true and (alr vthich L% not a maw co1 as part of an Independent gx•mln*tlorL I have no concerns and have come no other matter5 in conne£tion vrith the examirtatyon to whleh attenOn should té &awn In this report In order to enaE4e a understanding of the accounts to b¢ J. Smith, F.C. Mllne Eldridge & Ca 88A West Street Farnham Surrey GU9 7EN
Farnham School ol Science and Arl.. Trllslee Report & Accounts lor year ending 31 Morch 2022 STATEMEN.T. FOR T F FINANCIAL ACTI.KITIES ED 3 1ST MARCH 2022 Unrestr cted Total Total INCOMING RESOURCES Incoming resources generated funds Investment ificome from 27,888 27,888 27,415 TOTAL INCOMING RESOURCES 27,888 27,888 27,415 RESOURCES EXPENDED Charitable activitits Charitable expenditure (Grancsl.. Bank charges Cost ol independent examination Total Expenditure 9,600 9,600 15,710 594 594 594 10,209 10,209 16,304 NET INCOMEI (EXPENDITURE) BEFORE GAINS AND LOSSES ON INVESTMENTS 17,679 17.679 Galn51lLossesl on investment assets 51,169 51,169 149,780 NET MOVEMENTS IN FUNDS 17.679 51.169 68.848 160,891 TOTAL FUNDS BROUGHT FORWARD 82,7B7 879,504 962,291 801.400 TOTAL FUNDS CARRIED FORWARD 100,466 930,673 1,031,139 962,291
Fcsmhom School ol Science ond Arl.. Trustee Reporl & Accounts lor yeor endlng 3151 IAarch 2022 ANCE SHEEI 31STMARC 022 estricted funds ndow Total Total FIXED ASSETS Ittvestments 930,673 930,673 879.504 TOTAL FIXED ASSETS 930,673 930,673 879,504 CURRENT ASSETS Debtors Cash at bink 6,954 94,106 6,954 94,106 6.431 77,544 NET CURRENT ASSETS 101,060 101,060 83.975 CREDITORS: amounts falllng due within one year 594 594 NET CURRENT ASSETS 100.466 100,466 82,787 TOTAL ASSETS LESS CURRENT LIABILITIES 100,466 930,673 1,031.139 961291 FUNDS OF THE CHARITY Unre$trlcted funds 100.466 100,466 82,787 Endowment lunds 930,673 930,673 879,504 TOTAL FUNDS 100,466 930,673 1,031,139 962,291 ARATIO The trustee consider5 that the charity is entided to exemption from the requirement to have an audit under s144 of the Charitie5 Act 2011. The financial Statements lor the year ended 31. March 2022 are approved by the trustee. For and on behalf ol Farnham Town Council {Tru5teel Dat
Famhom School ol Sclence and Arl.. Trustee Report & Accounls lor year ending 31sI March 2022 ARNHAM SCHOOL OF SCIENCE AND OT HE ACCOUNTS FOR THE YEAR EN D31STMA ACCOUNTING POLICIES Basis of Preparation The financial statements are prewared under the historical cost convention with the exception that Investments are included at market value. The atcouncs have been prepared in accordance with the Statement ol Recommended Practice.. "Accountlng and Reportlllg by Charitie5" {FRS 102) and applicable accounting standards. and the Charities Act 2011. Accumulated funds The charity has 2 single permanent endowment fund the capital ol which is invested by the trustee in perpetulty. The trustee may apply the incoMe to the general purposes of the trust in furtherance of the charitable objectives. The unrestricted funds held by the Trust are funds that can be used in accordance with the tharitable objectives at the discretion ol the Trustse. Investments Investment illcome is included in the account5 when receivable. Investment Din5 and losses include any gain or loss on the sale ol investments and any gain or1055 resulting Irom revaluing investment5 to market value at the end of the year. Itlvestments are represented by common investmenc funds and are v&lued at bid price at the year end. GRANTS Grants are made to local institutions lor the purpose ol promotlng the educitlon in art and allied subjects of perso[55 residing in Farnham in the county ol Surrey FIXED ASSET INVESTMENTS Market value at beginning of year Net (105sllgain on revaluatio 879,504 51,169 Marlcet value at end ol year £930,673 The charity s investment assets are represented by holdings in BlackRock Charitie5 UK Equity and Bond Fund5. Both these funds are registered in the United Kingdom. TRUSTEE The individual countlllors acting as trustse received no remuneration tsr expenses from the charity durin¥ the year. CHARITY STATUS Farnham School ol Science and Art is a Charitable Trust for tax purposes.