Charfty Reglstrntion No. 234873 THE FIRE SERVICE RESEARCH & TrAINING TST TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE Y&4R ENDED 30 SEPTEMBER 2024
THE FIRE SERVICE RESEARCH & TRAINING TST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr R Harrison MrAHay Mr P Wankhade Mr A F Led8erton-Lynch Mr R Scott Mr M Cashin Secretary Mr J Lancaster Charity number 234873 Independent Lxaminer TC Group Celixir House Stratford Business & Technolo8y Park Innovation Way, Banbury Road Stratfor(kupon-Avon Warwickshire CV37 7GZ United Kingdom
THE FIRE SERVICE RESEARCH & TRAINING TST CONTETrrrs Trustees, report Independent examiner's report Statement of financial aclivitses Balance sheet Note5 to the accounts 7-11
THE FIRE SERVICE RESEARCH & TRAINING TST TRusfEES' REPORT FOR THE YEAR EAIDED305EPTEM8ER 2024 The trustees present their report and accounts for the year ended 30 September 2024. The trustees have adopted the provlsions of Accounting and Reporting by Charities: Ststement ol Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financfjl ReportFng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Structure. 8o%Ernan¢e and management- Govemlng document The charity is controlled by its governing docltment, a deed of trust and constitutes an unincorpordted charity. The charity is unincorporated and was established by a declaration of trust dated 27th August 1940. Prindpal address The FI Protection Association London Road Moreton-in-Mar5h Gloucestershire GL560RH The trustees who served during the year were.. Dr R Harrison Mr D Tidbury Mr S McGuirk MrAH3y Mr P Wankhade Mr A F Ledgerton-Lynch Mr R Scott Mr M Cashln IRe5igned 21 June 20241 (Resigned 10 Ottober 20231 (Appointed 10 October 20231 IAppointed 10 October 20231 Recruitment and appointment of new trustees The declaration of trust originally provided that all trustees be appointed by and hold office and the pleasure ot the Secretaries of State for the Home Department anil for Scotland, who could also determine the numker of trustees from time to time. In 2010 the relevant government departments Indicated a wish for the trustees to determine their own appointments of new tIUStees. Accordingly the declhration of thrust has been amended sc that the setving trustees shall determine the appointment of new trustees and that there shall be at least four trustees. Irb addition, the trustees have determined that at least one trnstee shall normally reside in England and Wales; and at least one trustee shall normally reside in Scotland. Trustees are appointed where they have the skills to contribute to the management and development of the charity. Trustees are either serving or retid officials of long standing and seniority the publlc or private sector,. and have extensive experience of the fire sector and beyond. Indurtion and trainlng ol new trustees Upon appointment new trustees are provided with a copy of the charity's declaration of trust, the most recent audited financial statements and copies of the previous mlnutes of trustee5' meetin85. In addition new trustees are given a briefing by the sectsry on the charity's policie5 and prodUre5. Recent appointees have all been familiar with the duties of a trustee but the charity would orEanize attendance on a suitèble course rf necessary.
THE FIRE SERVICE RESEARCH & TRAINING TST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR EAIDED 30SEPTEMBER 2024 Or8anisational strurture The charity Is managed by a Board of Trustee5. A secretary is appointed by the trustees under a contract for services to administer the day-to-day operations of the charity. The Board of Trustees ordinarily meets four times in each year and also opefates arTrngements for trustees to be able to consider and approve grdnts between meetings. In order to monitor the outcomes and progress of certain projects, individual trustees may vlslt project locations and attend project events during the year. The trustees have assessed the major risks to which the The Trust is exposed, and are satlsfied that systems are in place to mrtigate exposure to the major risks. The trustees have in place a system of control for the authorization, payment and monitoring of grants and for the review of investment policy and management of investment5 which they believe provides adeq4Jate security for their operations. The Covid-19 pandemic has led to an additional risk of the charity in terms of the certainty of income generation and protection of investment assets. however due to the significant Nf lue of the Investment portfollo held. the risk is only minimal and miti8ated further by the use of charity's investment manager, BlackRock Investment Management IUKI Limited. Objectives and activities Objectives and alm5 The objectives of the charity are to promote and assist.. research into methods of the prevention of, protection from or response to, fire and rescue service related risks posed to businesses or communities,. - training of fire and rescue servlce personnel,. - securing improvements in appliances of value to the fi.re and rescue seNice.' and - securing the general efliciency and effectiveness of UK fire and rescue seNices as a whole. The charity's purpose is to support learnin8. research and the sharing of information and ideas across the LIK fire and rescue services by: promoting and assisting the tralning and developmenl of UK fire and rescue service personnel.. promotin8 and assisting new research that meets the needs of UK fire and rescue services,. and - sharing informaiion and ideas relevant to UK fire and rescue SeICe5 that assists in leamlng. Whilst the charity works with other bodies on specific projects, the charity's overall strategy, dirertion and pro8r3mme of work remains independent,. as set by the trustees. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what acknvities the The Trust shotjld undertake. Public benefit The Irustees will not ally the charlty to, or provide commercial advantage to, any commercial or8anisation or group of commercial organisarioos. The trustees have regard to the Charity Commlssion guidance on public benefit and consider the charity's activities and award of grants are for the public benefit. History The charity was established in 1940, using funds provided by the Insurance sector to encourège study and experiment on fire protertion and prevention.
THE FIRE SERVICE RESEARCH & TRAINING TST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED30 SEPTEMBER 2024 Grant making The trustees receive requests for funding from institutfons and individuals and assess these on the basis of their contribution toward5 the stated objects of the charity and avallable financial resoltrces. The charity awards four types of grant: - scholarship award scheme: fundinB study programmes svblect to maximum award of £2.5LKI per annum. - small project grant scheme: funding research projects from £1,[ to £3,0(K) over a maximum of two year5,- research fellowship award scheme.. funding postgraduate studies pro8rammes subjert to a maximum award of £20,000 over a maximum of three yeats Isix Yea of part time studiesl- and research project grant scheme.. funding research projects in the range £10,000 to £150,000 over a maxlmum of fours years. Further infomiation to asslst grant applicants can be found on the chartty's website at www.firet1415t.info. hlevements and pÈrft>miance Charitsble activltles D¢Jring the year the trustees continued to consider and approve application for grants which were nst1¥ in the areas related to improved performan by the UK fire service. The trustees approved grants durrng year of £179,95912023.. £nill. Investment perfomiance The performance of the charity's Investment manager, BlackRock Investment Management IUKI Limited. is regularly reviewed by the trustees against appropriate benchmarks. The trustees are Satisfied with the current performance and the overall tUrn attained from the charity's investments. The value of investments increased during the year and the BlackRock portfolio had a valuation of £6,141,704 as at 30 September 2024. Finandal review Financial position The twstees are saiisfi'ed with the financÉal State of affair5 of the charFty. At the year end the balance on the unrestricted general fund wa5 £535,065 12022: £537,303). The charity has been impacted by the Covld-19 pandemic but only in relation to the approval of grants commitments whlch has slowed, due to the research and follow up being muth slower than planned. Prlncipal fundin8 sources The charity's investment Intome is solely derived from the funds, as currently invested, with whith the charFty was endowed on its creation in 1940. Reserves policy The trustees have regard to the charity's annual income with awarding grants but they consider themselves. nerther limlted by income receivable in each year, nor bound to apply the whole of the income reCeible in each year. Therefore it is the policy of the trustees to maintain sufficient unrestritted general funds to meet their fundin8 commitment5 and to respond to exceptional applications forgrants which may arise from time to time.
THE FIRE SERVICE RESEARCH & TRAJNING TST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 305EPTEMBER2024 Investment pollcy ond objectlves Thè tiustees, Investment objective is to achieve capital growth and a growing levÈl of income. The charity's investments solèly comprise a holding in Charifaith. a comrnon investment ftind, which seeks to avoid investment in companies with a significant proportron of revenues from afmaments, pomography, tobacco, abortion and contraception,- thts5 achieving the t¥ustee's ethi1 investment policy. Charrfaith is a diversified fund with exposure to eouities, bonds, low risk absolute return funds, prop¢rty and cash and is actively managed by a professional fund manager. pn5 forthe future The charity's aims and objertives rernain constant and do not change from year to year. However, the way in which thÈ charity rnanages its af*dif5 will continue to be reviewed during the coming year in order tts improve the charity's overall effertiveness and, in particular, fatilitate improved grant appliotions. On behalf of the board of trustees A Hay- Trustee
THE FIRE SERVICE RESEARCH & TRAINING TST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FIRE SERVICE RESEARCH & TRAINING TST I report to the charity trustees on my examinatlon of the accounts of The Fire Service Research & Trainin8 Trust (The Trust) forthe year ended 30th September 2024. Respective responsiblllties of trustees and examiner The charity's trustees are responslble for the preparation of the accounts. The charlty's trtsstees consider that an audtt is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examlnation is needed. It Ss my responsibility to- examine the accounts under section 145 of the 2011 Act- lill to follow the procedures laid down in the genernl Directtons given by the Charity Commission under section 14515llb) of the 2011 Act: and Illil to state whether particular matters have come to my attention. Basls of independent examlner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from yotj as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be reqUId in an audit and consequently no opinion is given as to whether the accounts present a 'twe and fair vlew. and the report 15 limited to those matters set out in the ststement below. Independent examlner's statement In tOFbnection with my examination, no matter has come to my attention.. lal which gives me reasonable cause to believe that in any material respert the requirements.. lil to keep accounting records in accordance with section 130 of the 2011 Act,. and 1151 to Ppare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Art.. have not been met; or Ibl to which, in my oplnion. attention should be drawn in order to enable a proper understaf)ding of the accolints to be reached. TC Group Celixir House Strattord Business & Technology Park Innovation Way. Banbury Road Stratford-upon-Avon Warwickshi CV37 7GZ United Kingdom Dated.. 26 March 2025
THE FIRE SERVICE RESEARCH & TRAINING Tsr STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 30SEPTEMBER 2024 Unresrrlrted Endowment funds funds rotal 2024 Total 2023 Notes In in Investment income lun 206,143 206,143 I,334 esex Charltable activities Direcl costs Grant fundin8 of achvthes 12,( 179.959 12,000 179,959 12,0 Total ¢harl*able expenditure 191.959 191,959 12,0 Governance costs 16.422 16,422 10,025 Total resources expended 208,381 208.381 22,025 Net loutgoingl/incominB Tesource5 12,238) 12,2381 168,309 Other re¢o8nised gains and105ses Gains/llossesl on investment assets 484.256 484,256 1122,9131 Net movement in funds {l2381 484,256 482,018 45,396 Fund balances at l October 2023 537,303 5,657,448 6.194,751 6,149,355 Fund balances at 30 September 2024 535.065 6,141,704 Q676.769 6,194,751
THE FIRE SERVICE RESEARCH & TRAINING TST srATEMENT OF FINANCIAL AcnvmES ICOPMNUEDI FOR THE YEAR ENDED 30 SEPTEMBER 2024 Investment Income 2024 2023 Investment income Interest receivable 190,093 16,050 182,334 206.143 190,334 Total resources expended Other tosts Grant funding Total 2024 Total 2023 Charftable a¢tivltles Dir Activities undertaken direttly 12.CK)O 12,000 12,000 Grant *undin8 of activities Grant fundin8 of activities 179,959 179,959 12.000 179.959 191,959 12,0(Kfr Go¥emance costs 16,422 16,422 10,025 28,422 179,959 208.381 22,025 Governance costs Includes payments to the auditors of £300012023: £28201 for audit fees.
THE FIRE SEWICE RESEARCH & TRAINING TST BALANCE SHEET ASAT30 SEPTEMBER 2024 2024 2023 hlotes Flmed assets Investments 6,141,704 5,657,448 Current assets Cash at bank and In hand reditors: amounts fallin8 due wlthln one year 660,405 572.653 1125,340} 135.3501 Net current assets 535.065 537,303 Total assets Ses5 CUITent liabilittes 6,676,769 6.194,751 Capital fvnds Endowment funds 6,141,704 5.657,448 Income fvnds Unrestricted funds 535,065 537,303 6,676,769 6,194,751 The accounts werè approved by the Trustees on..... A Hay. Trnstet
THE FIRE SERVICE RESEARCH & TRAINING TST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED305EPTEMBER 2024 A¢Unting pollfles 3.1 Basls of preparatlon The financial statements of the charlty, which 15 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Atcounting and Reporting by Charitie5.' Statement Recommended Practice applicable to charities preparing their accounts in accordance with the FInCIal Reportin8 Standard applicable in the UX and Republic of Ireland IFRS 1021 (effective l January 20191,. Financial Reporting Standard 102 'The Financi31 Reporttng Star¢dard applicable in the UK and Republic of Ireland, and the Charitie5 Act 2011. The accounts hève been prepared uftder the historical cost convention, wlth the exception of investments which a included at market value, as modified by the revaluatfon of certain fixed assets. 3.2 Incoming resources Income All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the fttnds, It is probable that the intome will be received and the amount can be measured reliatly. 3.3 Resources expended Expenditure Liabilities are cOgnised as expendlturè as soon as there Is a legal or con5twctive obligation committin8 the charity to that expenditure, it is probable that a transfer of economic benefits will be requirel in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headin8S that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resourtes. Grants offered subject to conditions which have not been met ot the year end date ère noted as commitment but not accrued as expendlttsre. Taxal?on The charlty Is exempt from tax on it5 charitable athvities 3.4 Investments Listed investments have been professionally valued at 30 September 2024 and are included in the accounts at their fair value at that date. Reali5ed and unrealised gains and losses on investments are deak with in the statement of financial activities. 3.5 Accumulated funds Fund account5ng Unrestritted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restritted purposes w>thin the object5 of the ch¥ity. RestrictFon5 arlse 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 note5 to the fi'nanc41 statement5.
THE FIRE SERVICE RESEARCH & TRAINING TST NOTE5 TO THE ACCOUNTS (coMfiNUEDI FOR THE YEAR ENDED 30SEPTEMBER 2024 Icontinuedl Grants payab5e 2024 2023 Grant funding of attiviknes 179,959 Trustees There were no tru5tees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. During the year, the trustees neither receNed or waived any emoluments12023.' £nill. Tru5tees' expenses There were no trustee5' expenses paid for the year ended 30 September 2024 nor for the year ended 30 September 2023. During the year 8 trustees'12023'. 11 received reimbursements totslling £2,30212023- £4061 of trdvelling and other expenses. Employees There were no employee5 during the year. Fixed asset investments Market Wdlue at l October 2023 Change in value in the year 5,657,448 484,256 Market w4lue èt 30 September 2024 6.141,704 Historical cost.. At 30 Seplember 2024 6,141,704 At 30 September 2023 5,780,361 io-
THE FIRE SERVICE RESEARCH & TRAINING TST NOTES TO THE ACCOUNTS IcoNfiNUED} FOR THE YEAR ENDED 30SEPTEMBER 2024 Credltors: amounts falling due wlthln one year 2024 2023 Trade credltors Accr4Jals 124.090 1,250 34,1(Kl 1,250 125,340 35,350