Famham School ol Science and Arl.. Trustee Reporl & Accounts lor ye(Jr ending 3151 Morch 2024 Charity Commisslon Nunibei'_ 1146152 // FARNHAM SCHOOL OF SCIENCE AND ART also Iinown as THE FARNHAM SOUTH STREET TRUST TRUSTEE'S REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 ST MARCH 2024 Fonhom School of Science and Arl: Trust?? R¢port & Aecounls lor year endino 3151 Morch 2024 Page Legal and adminlstratlve Informatlon Trustee's ￿POrt Statement of trustee's responsibilitles Independent examinerf5 report Stttement of financlal 2ctlvitie5 Balance Sheet Notes to the accounts Famhani School ol Sclence and Art.. Truslee Report & Accounts lor yeor endlng 3151 Moreh 2024 Chailty Number 1146152 Trustee FaI￿h￿M Town Councll Principal address Councll Offlces South Sti-eet Farnham Surrey GU9 7RN Banlier5 HSBC 30 Princes Mead Street Shopping Centre Farnboi'ough HamptlilrÈ GU14 6YA IndepEndent Examiner R. }. Smith, FCA Mllne Eldridge & Co 88A West Sireet Farnham Surrey GU9 7EN Ftsmham School ol Science and Arl- Trvslee Report & Accovnts for year ending 3151 Morch 2024 TRUSTEE'S REPORT FOR THE YEAR ENDED 3 1ST The trustee presents its report and accounts for the year ended 31, March 2024 The accounts have been prepared in accordance with the accounting pollcles set out In note I to the accounts and compty wlth the tiwst's deed of trust, the Sta￿Inent of Recommended Practlce. Accountlng and Reporting by Chai'ities" IFRS 102}, applicable 8CCOUnting 5tandard5. and the Charl¢les Act 2011. Inlst tlve D8t ils of the Charit its Trustee and Advi5er5 The name of the charity Is the Farnham School of SEieTrce and Art and It 1$ also known os the Fai'nham South StfftEt Trust. Farnham Town Councll is the trustee ol the charity. The Council members who collectJvely acted as trustee to the charlty durlng the year ended 31, March 2024 W￿.e a5 follow5.. D. Attfield (to May 20231 D. Behman M. Brown (from May 2023) Mi's C. Cocklxjrn (to Miy 2023) Ms S. Dickson Mrs P. Dunsmore (to May 20231 A. Earwaker Mr5 P. Evans (to May 2023) A. falrclough l. Fraser (to May 20231 G. Hesse C.12ckman IltrDm May 2023} A. Laughton Ilrom May 20231 A. MacLeod (to MAY 20?31 Ms M. Martin B. Mauluka Ifrom rtTray 2023) M. Meri'yweather Mrs K. Mirylees G. Murriy J. Neale (to May 20231 J. Ward G. White {from May 20231 Ms M Wicks (to May 2023) T. Woodhouse Ifrorn May 20231 Details of the ch2rity'5 correspondence address, bankers and of Its Independent examiner al'e set out on page l. Thei-e are no sollcitors oi. financial advisers appoinLed by the charlty. re overnance nd mana eme The trust ￿￿$ orfglnally formed In 1880 by the gllt ol a property to trustees as an art school. With the later sale ol the property the pro￿ed5 have been invested with the Income being Applied In Pl￿mOtIng the education in ari and 211ied subjects ol person5 residing or studying in Farnham. The Trustee reviews the Investment of the chai'lty's assets on a regular basls. The governing document is The Charlty Commission Scheme dated l O March 1980 which was amended by The Charity Commis￿on Schetne dated 19 lune 1998. As noted above Farnh2in Town Council is the trustee of the charity and members of the Councll 51t ex-offlclo when the Council meets as trustee. itÉes The objective of the charlty Is to apply the Sncome of the charity in promoting in Such Wdys as It thinks flt, the edvcation in art and 2llied Subjects ol per'sons re5idlng or Studying ITr Farnham I￿ the County Df Surrey. In furtheraTrce of thls oWectivÈ, the char'lLy makes grants to schoDls and othei- orgdnisat10115 in the FRrnham are to enable those organisatlOn5 to organlse educ*tlonal workshops and projects coveiing art ènd assoc18ted subjects for the bellefit of children and adults living or studying In the local area. Famhum School ol Science and Arl.. Trustee Report & Accounts lor year ending 3121 March 2Q24 IRUSTEE'S REPORT FOR THE Y ST MARCH 2014 Farnham Town Cc>uncil meets annually as trustee to consider Hppllcatlons for grants lor purposes which f&ll within the objective ol the charity. In setting and tariylng ou¢ the objectlye of the charliy the tllJ5tee ha5 had regard to the guldance 5ssued by the Charity Commission on public benefit. Achlevements and or nce In order to aehleve Its oblective, the charity made glints In respect of the year ended 3 5, March 2024 to the following oi%anisations- Grant$ paid on or before 31" March 2024: Organisation Another Bri¢k in the Wall Amount £2,000 £750 Grealing Crafts and Bltsoms Creative Response Ltd Farnham Art and 08sign Education Group IFADEGI Farnham Heath End School £1,450 £900 £500 Farnham Mallings Farnham Mallings Farnham Town Council- Craft Town Residency costs New Ashga18 Gallery Phyllis Tuckwell Pollers Gale Primary School Rural Life Living Museum Sl Andrew's Infant School £1,050 £1,600 £5,000 £2,OOQ £50Q £1,000 £l,OOQ Sl Mary's Infant School Sl Polycarps SGhool University for the Creative Arts TOTAL £500 £3,000 £2,425 £24,175.00 Fornhom School ol Sci6nce or)d Art.. T￿$18@ R8port & Accoun15 lor year ending 3151 March 2024 ancial Yeview The charity's funds aiE currently inves￿d with Blackrock Investment Management (UKI Limited. Funds are divided between two charity iuthorlsed Investment funds 5pecific&lly designed to meet the investment needs of charities. BfackRock Charitle5 UK Bond Fund aims to provide a high level of income from fixed interest securltles. BlackRock Charities UK Equity Fund aims to provide medium to long term capltal and income appreciation by investing mainly in UK li5red companles. The Income received by the chariiy from its investments durlng the year ended 31" March 2024 totalled £32.347 and as noted above it made grants amountlng to £24.175, In relatlon to grant applications for the 2023124 ye2r. The value of the charitls InYestment5 rose from £907,762 as at 31" March 2023 to £930,582 as at 31. March 2024. Fut re The trustee intends that the charity wl11 contlnue provldlng grants in a simllar way to the recent pa2t In accordanee with It5 0￿.eCtiVe, although ir will monitor its investment carefully to ensure that the endowment 15 not depleted. Slgned.. Print Name.. Cllr Brodle Mauluka For and on behalf of Farnham TowTr Council (the Trustee) Dated.. Farnham School ol Science and Arl.. Tiuslee Report & Accounls lor year ending 31$1 March 2024 STATEMENT OF TRUSTEE'S RESPONSIBILifiES The Trustee Is I'e5pon5iblE for preparing the ¢ru5tBe's report at>d the fiTrancial statemeTrts in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charitles in England and Wales requlres trustees ¢0 prepare tlnanclal statements for each financlal year which glve a tI￿e and faSr vlew of the state of 8ffaii-s of the ch*ity and of the incoming Itsources and application ol resources of the charity lor thal period. In pt-eparing these financial statements, the trustee is requiiEd io.. select suitable accoundng policies and then apply them consistentlyi Dbserve the methods and priRciples of the Charitles SORP.. make ludgements and estimate5 that tre reasonable and prudent., state whether appllcable accoundngs¢andards and statements of reeommÈnded practlce have been followed. Subject to 3nx departures d15closed and explalned in the accoun prepare the account5 on a golng concern basls unless It Is Inapproprfkte to presume that the chartty will continue In operadon. The trustee is responsible lor keeping accounting record5 which disclose with reasonable accuracy the financi81 position of tho chai'ity and which enable them to ensui'e that the f*nan£ial statements comply with the Charltles ACL 201 l and the provision5 of the trust deed. They are a150 1'e5pons5ble foi. 5afeguai.dlng the tsl the Trust and hence foi- taking reasonable steps foi- the prevention and detection of frdud and othei. iwegularitle5. Fomhtsm School of Scl6nee and Art.. T￿$180 Report & Accounls fory8cr ending 31sI March 2024 INDEPENDENT EXAMINER'S REPOR TRUSTEE OF FARNHAM SCHOOL OF SCIENCE ND I report to the trus￿ on my examination of the accounts of the Farnhèm Schod of Sclence and Art for the year ended 31, Narch 2024. es onglbllltles and ba$ls of re ovt As the charlty trustee you are responslble for the preparatlon of the aecounts In accordance with the requirements of the Charitie5 Act 2011 I'ihe AcL'}. I report In respect of my examlnation ol the Trust's accounts carried out under secdon 145 of the 201 l Act and ln carrylTrg out my examln&tion I have followed all the applicable Directions given by the Charity Commisslon under section 145{5llbl of the Act. nde dent ex min r's statement I have completed my examinatlon. I confirm that no materlxl mattÈrg haye come to my attention in connection with che oxamination giving me cause to belleve that In any materlal respect.. 111 accounting record5 were not kept In respect of the Trust as requlred by sectloa 130 of the 201 l Act., or 121 the accounts do not accord with those records., or {31 the accounts do ftot comply wlth the applicable requirements concerning the form aRd CORtent ol accounts Set out in the Charitie5 (Accounts and Reports) liegulations 2008 other than any J'equirement that the accounts give a '¢rue and falr vlew, whlch Is not a mattel. consldered as part of an Independent exafflin3tion. I haye no concerns and have come across no other matters In connection with the examination to which attentlon should bÈ drawn in thls report In order to enable a proper understandlng ol thÈ accounts to be reached. R.J. Smith, F.C.A. MilnÈ Eldrldge & Co 88A Vvest Street Farnham Surrey GU9 7EN Dated.. Famhom School ol Science ond Arl- Ftuslee Report & Accounts lor year ending 3151 fvlarch 2024 ARNHAM SCHOOL OF S E AND ART TH YE R ENDE ACCOUNTING POLICIES Ba515 of Pveparation The financial sthtements are prepared under the historical cost conventioj) with the exceptlon that Inve5ttneTrts are included at market Ydlue. The accounts have been preyared in acc(M'dance ￿th the Statement of Recommended Prartlce.. "Accountlng and Reportlng by Charltles" {FRS 1021 and appllcable acwuntlng standai'ds, and the Charitie5 Act 2011. Accumulated funds The charity has a singSe permanent endowment fund the capital of which is invested by the trustee In perpetuity. The trustee may applythe income to the general purposes of the tr￿st in furtherance ol the charitable oE>5ectivÈs. The unrestricted funds held by the Trust aiE funds that can be used in accordance with the charitable objectives at the discretion of the Trustee. Investments Investment incom8 is included in the accounts when receivable. Investment galns and losses Indude any galn or loss on the sale of investments and any ￿1n or loss re5uSting from rEvaluing inve5tmentS to market value at the end of the year. Investments are represented by common inyesiment funds 2nd are valued at bid price at the year end. GRANTS Gi'3nts are made to lool institutions for the purpose ol promoting the education In art and allied suliects of persons residlng in Farnham In the county of Surrey FIXED ASSET INVESTMENTS Narket valup at beginning of year Net Ilossllgain on rev21uation 907,762 22,820 Market Yalue at end Of yeai. £930.582 The charlty's Investment assets are repreSen￿d by holdlngs in BlackRock Charitses UK Equlty and Bond Fund5. Both these fund5 aiE regi5teiEd In the United Klngdom. TRUSTEE The individual counclllors actlng a5 trustee received no remuneratlon or expense5 fiK>m the charity dvi'lng the yexr. CHARITY STATUS Farnham School ol Science and Arl Is a CharIta￿e Ti'ust for tax purposes. Farnham School ol Science and Ail.. Tru51ee Report & Accounts for yeor onding 3151 March 2024 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 3 1ST MARCH 024 2024 2023 est ic Tota Tota INCOMING RESOURCES Incoming resource$ generated lunds Investment Income from 32,347 32,347 31,436 TOTAL INCOMING RESOURCES 32.347 32,347 31,436 RESOURCES EXPENDED Charitable activities Charitsble expenditure (Grants).. Bank chai'ge5 Cost of Independent examlnatlon Total Expendlture 24,175 66 654 24.175 66 654 23.803 69 594 24,895 24.895 24.466 NET INCOMEI (EXPENDITURE) BEFORE GAINS AND LOSSES ON INVESTMENTS 7,452 7,452 6,970 Gainsl{Losse51 on investment assets 22.820 22,820 122,9111 NET MOVEMENTS IN FUNDS 7,452 22,820 30.272 115.9411 TOTAL FUNDS BROUGHT FORWARD 107,436 907,762 1,015,198 1,031,139 TOTAL FUNDS CARRIED FORWARD 114,888 930,582 1.045,470 1,015.198 Fomhom School ol Science ond Arl.. Trusloo R&port & AccotJnt5 for yeoi ending 3151 Morch 2024 BALANCE SHEET AT31ST ARCH 2024 02 023 Unr str ct FIXED ASSETS Investments 930.582 930.582 907.762 TOTAL FIXED ASSETS 930,582 930.582 907.762 CURRENT ASSETS Debtors Cash at bartk 7.593 107,919 7,593 107,919 7.305 100.725 NET CURRENT ASSETS 108.030 CREDITORS: amount$ fallln8 due within one year 624 624 594 NET CURRENT ASSETS 114,888 114,888 107,436 TOTAL ASSETS LESS CURRENT LIABILITIES 114.888 930,582 1.045,470 1,015,198 FUNDS OF THE CHARITY Unrestrict¢d funds 114,888 114.888 107,436 Endowment funds 930.582 930.582 907.762 TOTAL FUNDS 114.888 930,582 1,045,470 ,015.198 DECLARATION The trustee considers that tlie charity 15 entltled to exemptltsn fi'om the r4ulrement to haye an audlt under s144 of the Chailtiès Act 2DI I. The flnanclal 5taternent5 for the year ended 31, March 2024 are 3pprc>vÈd by the trnsteÈ. For and on behilf of Farnham Town Coijncll IT1.￿Stee) Date..