**Charity registration number 228739 (England and Wales)**
**THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025**
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mrs A C Mayes MBE BSc Miss F Murdin Mr B W Wills-Pope MBE DL Mrs J Richards Mr A G Myers Mrs D Fewster Mrs J Potter (Appointed 1 September 2025) **Charity number** 228739 **Principal address and trust** Wollens Solicitors **administrators** Aperture Pynes Hill Rydon Lane Devon EX2 5AZ **Independent examiner** Mr A Hemmings BA (Hons) FCA CTA Simpkins Edwards LLP The Summit Woodwater Park Pynes Hill Exeter EX2 5WS **Bankers** Barclays Bank Plc 3 Bedford Street Exeter Devon EX1 1LX
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 11|
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 5 APRIL 2025**_
The trustees present their annual report and financial statements for the year ended 5 April 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2019)
## **Objectives and activities**
The objects of the trust, as set out in the Trust Deed, are:
- To provide grants to help children and young people in their education and training;
- To provide grants to children, young adults and disabled people in need; and
- To provide grants to any charitable or voluntary organisation whose objects include the education and training of children and young people.
The trustees have paid due regard to guidance issued by the Charity Commission on public benefit and in deciding what activities the charity should undertake.
The investment income is used to provide grants for both individuals and public bodies in accordance with the Trust Deed. The charity is advertised on the County Council website and has direct links with various educational and sporting authorities.
The Charity's capital was invested into a COIF Investment Fund and Property Fund together with an amount on deposit which helps to increase the annual income available for expenditure in support of the charity's objects.
No fundraising is undertaken, no trustee receives any form of benefit from the Trust and there are no related
party transactions. The Trust does not own or occupy any property or other accommodation.
The trustees aim to expend the whole of the annual income available, after meeting modest administration expenses, on the objects of the Charity.
The trustees in 1993 resolved that the policy for making grants should be as follows:
## **Statement of policy**
The trust's main concern is to provide for further education and training of young persons under the age of 21 by making grants:
- To individuals who have at any time been in the care of or provided with accommodation by Devon County Council or who are in need;
- To any person under the age of 21 resident in the County of Devon for further education and training;
- To any charitable or voluntary organisation whose objects include the purposes outlined above;
- Successful applications generally result in the making of a single grant;
- Grants will not be given to statutory agencies, including self-governing National Health Service Trusts, in the performance of their duties;
- Grants will be made against detailed invoices or accounts where appropriate;
- Grants will not be given unless applicants or their sponsors have checked thoroughly that assistance or benefit is not available from the Department for Work and Pensions, or from other public funds;
- All individual applications require the support of an independent sponsor or reference, eg school teacher or social services;
- All individual applications need to be made by the parent or guardian of the intended beneficiary with full and accurate details of the applicant's financial position - of both parents/partners, where appropriate - on a consistent monthly or weekly basis.
The trustees hold meetings every three months at which all applications are considered and decided. If any urgent applications arise between meetings, they are considered by the chairman and one other trustee, and the decisions reported to the next available trustees' meeting.
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## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **Achievements and performance**
During the year the trust has made 27 grants to individuals and 10 to institutions. This year we have made grants of £52,534 to organisations involved in educating young people in need or disabled, for special projects outside the scope of their ordinary finances. Grants of £12,569 were paid to individuals. We have made grants to persons under 21 to help with their education, applicants often being disabled and needing computers, or referred by Social Services.
## **Financial review**
During the year under review, investment income has increased to £114,754 (2024: £87,914). Total expenditure increased to £81,579 (2024: £49,704). Unrealised losses on investment assets were £137,982 (2024: gains of £228,980), resulting in net deficit of £104,807 (2024: net surplus of £267,190). The value of the Trust Investments and Funds on Deposit increased to £3,025,076 (2024: £3,013,058).
## **Reserves policy**
The Trust is not seeking to add to its capital reserves. We endeavour to distribute to net incoming resources before other recognised gains and losses each year despite being authorised to accumulate capital by our Trust Deed. When we have net incoming resources we deposit the balance at the best rate obtainable as a matter of good housekeeping, thus increasing the total amount available to help where we can. When suitable applications for assistance arise, the available funds will be spent.
## **Risks management**
We do not envisage any risks to the general financial stability beyond normal fluctuations of the stock market. We rely on the skill and advice of Charities Official Investment Fund.
## **Structure, governance and management**
The charity was constituted by a Trust Deed dated the 3rd day of February 1993 made by the Secretary of State for Health, consequent upon the cessation of the Farringdon House School, Devon, as an approved school for boys.
The Trust Deed provides wide powers of investment which are delegated to the Charities Official Investment Fund, through whom all investments are made. There is a power to accumulate income at the discretion of the trustees for the first twenty one years and add it to the capital of the charity.
The trustees who served during the year and up to the date of signature of the financial statements were: Mrs A C Mayes MBE BSc
Miss F Murdin Mr B W Wills-Pope MBE DL Mrs J Richards Mr A G Myers Mrs S Acland (Resigned 1 September 2025) Mrs D Fewster Mrs J Potter (Appointed 1 September 2025)
Trustees may be appointed by a resolution of a meeting of the trustees provided the total number of trustees does not exceed seven or be less than three. The nominated trustee may be appointed by the County Council. New trustees are directed to the Charity Commission guidance on becoming a new trustee "the essential trustee: what you need to know, what you need to do (CC3)".
- 2 -
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
The trustees' report was approved by the Board of Trustees.
## **Mrs A C Mayes MBE BSc**
Trustee Dated: 11 December 2025
- 3 -
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
I report to the trustees on my examination of the financial statements of The Farringdon House School Charitable Trust (the charity) for the year ended 5 April 2025.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
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 financial statements to be reached.
## **Mr A Hemmings BA (Hons) FCA CTA**
for and on behalf of Simpkins Edwards LLP
The Summit Woodwater Park Pynes Hill Exeter EX2 5WS
Dated: 19 January 2026
- 4 -
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
|**Unrestricted**
**funds**
**2025**
**Notes**
**£**
**Income from:**
Investments
**2**
114,754
**Expenditure on:**
Charitable activities
**3**
65,103
Other
**5**
16,476
**Total resources expended**
81,579
Net gains/(losses) on investments
**6**
(137,982)
**Net movement in funds**
(104,807)
Fund balances at 6 April 2024
3,260,821
**Fund balances at 5 April 2025**
3,156,014|**Total**
**2024**
**£**
87,914|
|---|---|
||36,932|
||12,772|
||49,704|
||228,980|
||267,190
2,993,631|
||3,260,821|
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 5 -
## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **BALANCE SHEET**
## _**AS AT 5 APRIL 2025**_
|**Notes**
**Fixed assets**
Investments
**9**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**12**|**2025**
**£**
**£**
3,025,076
22,980
109,938
132,918
(1,980)
130,938
3,156,014
3,156,014
3,156,014|**2024**
**£**
**£**
3,013,058
-
250,183
250,183
(2,420)
247,763
3,260,821
3,260,821
3,260,821|**2024**
**£**
**£**
3,013,058
-
250,183
250,183
(2,420)
247,763
3,260,821
3,260,821
3,260,821|
|---|---|---|---|
||||3,260,821|
||||3,260,821|
||||3,260,821|
The financial statements were approved by the trustees on 11 December 2025
Mrs A C Mayes MBE BSc **Trustee**
- 6 -
**THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **1 Accounting policies**
## **Charity information**
The Farringdon House School Charitable Trust is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Aperture, Pynes Hill, Exeter, EX2 5AZ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
## **1.4 Incoming resources**
Investment income is accounted for in the period in which the charity is entitled to the receipt.
## **1.5 Resources expended**
Expenditure is included on an accruals basis and includes any VAT which cannot be fully recovered. Expenditure is classified under headings of the statement of financial activities to which it relates.
Grants are charged in the year in which the offer is paid to the recipient.
## **1.6 Fixed asset investments**
Investments are shown at fair value at the balance sheet date. Gains/losses on revaluation are shown in gains/losses on investment assets in the Statement of Financial Activities.
## **1.7 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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**THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.
## **2 Investments**
|**Unrestricted**
**funds**
**2025**
**£**
Income from listed investments
111,498
Interest on listed investments
718
Interest on cash deposits
2,538
114,754|**Total**
**2024**
**£**
84,555
779
2,580|
|---|---|
||87,914|
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## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **3 Grants payable**
||**Grants**|**Grants**|
|---|---|---|
||**payable**|**payable**|
||**2025**|**2024**|
||**£**|**£**|
|Grants to institutions:|||
|Calvert Trust Bursary Scheme|5,000|5,000|
|The British Horse Society|-|4,000|
|Kenn C Of E Primary School|-|1,500|
|A.I.M.S (Dawlish) Special Needs Group|-|5,000|
|Cann Bridge School|-|5,000|
|The Island Trust|1,454|-|
|The Mare and Foal Sanctuary|2,500|-|
|South Dartmorr Community College|6,400|-|
|Space Youth Services|10,000|-|
|Chances Educational Support Services|5,000|-|
|4th Teignmouth Scout Group|300|-|
|Dartmoor Multi Academy Trust|5,000|-|
|Tor Support Systems|6,200|-|
|Children & Families in Grief|10,680|-|
||52,534|20,500|
|Grants to individuals|12,569|16,432|
||65,103|36,932|
## **4 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **5 Other**
|**Unrestricted**
**funds**
**2025**
Administration fee
14,496
Independent examiner's fee
1,980
16,476|**Total**
**2024**
**£**
11,112
1,660|
|---|---|
||12,772|
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## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **6 Net gains/(losses) on investments**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**||
||**2025**|**2024**|
||**£**|**£**|
|Revaluation of investments|(137,982)|228,980|
## **7 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **8 Employees**
There were no paid employees during the year (2024: none).
## **9 Fixed asset investments**
|**Cost or valuation**
At 6 April 2024
Additions
Valuation changes
At 5 April 2025
**Carrying amount**
At 05 April 2025
At 05 April 2024
**10**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**11**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Listed**
**investments**
**£**
3,013,058
150,000
(137,982)
3,025,076
3,025,076
3,013,058
**2025**
**2024**
**£**
**£**
22,980
-
**2025**
**2024**
**£**
**£**
1,980
2,420|**Listed**
**investments**
**£**
3,013,058
150,000
(137,982)
3,025,076
3,025,076
3,013,058
**2025**
**2024**
**£**
**£**
22,980
-
**2025**
**2024**
**£**
**£**
1,980
2,420|
|---|---|---|
|||3,025,076|
|||3,025,076|
|||3,013,058|
|||**2024**
**£**
-|
|||**2024**
**£**
2,420|
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## **THE FARRINGDON HOUSE SCHOOL CHARITABLE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 5 APRIL 2025**_
## **12 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|General funds
**Previous year:**
General funds|**At 6 April**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**£**
**£**
**£**
**£**
3,260,821
114,754
(81,579)
(137,982)
**At 6 April**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**£**
**£**
**£**
**£**
2,993,631
87,914
(49,704)
228,980|**At 5 April**
**2025**
**£**
3,156,014
**At 5 April**
**2024**
**£**
3,260,821|
|---|---|---|
## **13 Related party transactions**
There were no disclosable related party transactions during the year (2024 - none).
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