Charlty regl8tratlon numb•r 258459 SAMUEL WILLIAM FARMER TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SAMUEL WILLIAM FARMER TRUST LEGALANDADMINISTRATIVE INFORMATION Trust••s Mr Peter Fox-Andrgws Mr Chades Brockls Mrs Jennrfer Liddiard Mr Bruce Wdighl Mrs Elaine Dewey Mrs Melanie Lind8n-Femior Charity numb•r 258459 Prfnclp•l address 71 High Street Market Lawnglon ltshire SN104AG Independenl •xamlner Davld Owen & Co 17 The Market Pla Devizes IAfjll8hire SN10 1BA Sollcltorn nsbroughs Sollcitors Northgate House Devizes Ilshire SNI0 1JX Inv•$trnent adv180rn Evelyn Partner5 Invèstment Management LLP 45 Gresham Strèet London EC2V 7BG
SAMUEL WILLIAM FARMER TRUST CONTENTS Pago Trw8tee8' rewrt Independent examinefs rep)rt statemerrt offinancial activthes Balance sheet Notes to the finarrial ststements 7-14
SAMUEL WILLIAM FARMER TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Iru$tee$ present their annual report and financial ststements for the year ended 31 D&ember 2024. The financial slalements have been prepared in accordare with the accounliNJ wliaes set out in note 1 to tho financial statements and comply the Trust trust deed. the CharriiesAct 2011 and 'Accounting and Reporting by Charilie$.' Slatement of Recommen(led PractKe appli¢able to charities prepwng their acwunts in accordance with the Fina1•1 Rèportlng Standard applicable in the UK and Republic of Ireland IFRS 102}" (effective 1 January 2019). ObAectfvo$ and actlvllles ObJoctfvoB and actlvliles The Charity was established in 1928 for the benefit of tsr persons who through ill heatth or old age are unable to earn a livelihood, for educational purpose5 and for the benefit of hospital$, nurslng and convaloswt hcrfn8 or similar objectwes. The Trustees while aCknoedgng the aims and objedive¥ laid down in 1928, have applied Snterprelation of such aim$ and objectives. In dIts0n lo applications for grants made by various indIdUalS and organlsations directly to the secretary, Trustees bring suggestion5 and 8pplication8 for grants to their half yearly meelings. There must be at least thr88 Trustees present at a meeting for éecisions to be made and agreement is by majority vmth the chsimian having the caslirvj vote. Statem•nl on publlc b9nefft The trustees are aware of the Public Benefit provisions of the Charities A(# 2011 and of the guida on them published by the Charity Commission. They are satisfied that the oblects of the Charity and the acb'vrties of the Charity within the definltions of Ch8rrtable Purposes as set down in the ACL The Trustees are not aware of any public detriment caused by the Charity's ¢Jbjects or activities, and nor are they aware of anyone leIving any prrlale benefit from the Charity's avities. Achl•vem•nts and pertomlance Review of actlvltles During the year the Charity has fulfilled il objectives by providing support for the advancement of edUtion and the relief of povety and suffering. Those have bean primarily located wthin the Wltshire area. A summary of the gmnts made is found in note 4 and nolo 5 to th• financial statements. Financial review Golng concorn After makir¥J appropriate enquiries, the trustees have a reasonable expedalion Ihal the Charrty has odequale res1¢e$ lo contlnue Sn operalional existence for the foreseeable future. For this reason they ontinue to adopt the going concem basis in preparing the finanual slalements. Further details regarding the adoptKJn of the gng concem basi5 can bè found in theAccoLmting Policies.
SAMUEL WILLIAM FARMER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 IDva$tment and resgrvo poll¢y The Chwity dislribules its income to WhY causes during each year and there is no policy for hddlng incom rfveS_ Evelyn Partner5 have the conduct of the Trust's portfolio. The Capital Fund is invested in various income units, stocks and shares with income from dividends depos(ted to the Income Fund. It is th8 TTUStees' pcAicy lo retain the Capitsl Fund to generate income for di$tribution and Ihfr invastmenls are in suitably man4ed fvnds for Ihis purpose. The Trustees eonlinue io rewew Ihe profile of the Investments on a regular basis and roceive quartedy reports. information from the Charity's investment managers Evelyn Partners and when required ask for their alterK18nce to the Trusl8e$' bnnUal meetings. The Charity has two funds, Income and Capitsl. Grants are made from the Income Fund. If the InCe FuThl is in deficit then the Trustees have power to transfer sufficient funds from the Capital Fund lo the Income FLmd to cl Ihe defici(. The Irorne Fund al the year end was in suWu$ by £6.342 12023: £4,043). Structurn. govèrnanc• and manag8ffl8nt ConstRutlon The Samud Wllliam Farmer Trust is constituted ty Deed ofTru81. The TnJ81ee8 norm81ty meet half yearty and must meet at least fvlce a y8ar in accordance ¥th their governing documenL The maxlmum number of Trustees the Charity can have is five and there must be at least three. Method of appolnlmont or eloctlon of Tru8t• Vacancies are filled by the ageement of the mainIng Trustees. Statsment of tru8te68' responslbllmlos The trustees a responwble for preparing the Trustees, Repc)rt and the financial slatements in accordance with applicable law and United Ktngdom AOnting Standards (United Kingdom Generally Accepted AcccA4nting Pradiee). The law applicablg to charities in Engld and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of Ihe TTUSt and of the inconrring re80urces and application of resources of the Trust for that year. In preparing these finla1 statements, the trustees are required lo.. - S91ecl suitable accounting polKies and then apply them consistentty.. - observe the methods and Pre1ple3 In the Charities SORP. - make judgements and estimates that are reasonable and prudent.. state whether applicable aeLounting standards have been folbwed, suty'ect to any material departures disch)sed and explained in the flnancial statements., and - prepare the financial statements on the going concern basis unless rt Ss Inappropriate to presume that th8 will continue in operation. The trustee$ are responsible for keeping sufficient accounting records that disclose with reasonable aUr8eY at any time the ffinancial position of the Trust and enable them to ensufe that the financial statements compty wth the Charities Act 2011, the Charty (Accots and Reptrrtsl Regulatlons 2008 and the provislons of trust deed. They are also SpOnsible for Safeguardi the asset$ of the Trust and hence for tsknng reasonabl8 steps for thg prevention and deledlon of frau¢Y and olh8r irregularitles.
SAMUEL WILLIAM FARMER TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trust5, report was approved by the Board of Trustees. Mr Peter Trustea OX-Andrews 11 Aryil 2025
SAMUEL WILLIAM FARMER TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SAMUELWILLIAM FARMER TRUST I report to the trustses on my examlnation of the financial statements of Samuel Wlliam Famier Trust (the Trust) for the year endgd 31 December 2024. R•sponslbllltles and basis of report As Ihg trustees of the Trust you are responsible for the preparation of the financlal statements in accordance wKh the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examinatlcffl of the Twst's Ilnandal statements carried out under Section 145 of 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commissic under seCtn 145151(bl of the 2011 Ad. Independent examlnaVs ststemenl Your attention is drawn to the fact that the charity has prepared financial 81alemenls in aCrdar th AccountirvJ and Reporting by Chanties preparing their accoun18 in accordance with the Financial Reporting StsrKlard appli¢able in the UK and Republic of Ireland {FRS 1021 in preference lo th8Acc/Junling and Reportrng by Charities.. Statement of Recomrnended Practice issued 1 April 2005 which is referred to in the extsnt ragulatn$ but has rbjw been withdrawn. l understsnd that this h05 been dCe in order for financ(al stslements to PTovKle a true and fair view in accordance wrth Generally Accepted Accounting Pradce effectNe for rgporting periods beginning on ¢Y after 1 January 2015. I have completed my examinats'on. I confimi that matters have come to my attention In connection wilh the examination giving me Causé lo telieve that in any material respect: accounting records were not kept in ¥espect of the Trust as required by s8Ction 130 of the 2011 Act.. or the financial statements do not accord with those records,. or thè financial statements do not compw with the applicable requirem8nls concerning the fomi and content of accounts set out in the Charrties (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a true and fair which is not a matter considered as part of an independent axamination. I have no COnm8 and have come across no other matters in connection with the exarnimtion to vthich attentic should be drawn in this report in order lo en8ble a proper understanding of the financial statements lo be reached. Julian Pocock FCA CTA David O¥Mn & Co 17 The Market Place Devizes Wkshire SN1018A Dated.. 20 l)-
SAMUEL WILLIAM FARMER TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 In¢ome fund 2024 Capll•l fund 2024 Total Incomo fund 2023 Capltal fund 2023 Totsl 2024 2023 Investment incom& 82,968 82.968 70,533 70,533 Investment management o)slS 24,153 24,153 23,611 23,611 Charitable aclivilies 80.669 80,669 66,490 66.490 Total •xp•ndlture 80,669 24,153 104.822 66,490 23,611 90,101 Net goinsl{losses) on investments 10 99,157 99.157 97,750 97,750 Not movgment in fund• 2,299 75,OOd TT.303 4.043 74,139 78,182 Fund balances al 1 January 2024 4,043 2.943,476 2,947,S19 2,869.337 2.869.337 Fund balances at 31 DeCemr 2024 6,342 3,018,480 3,024,822 4,1M3 2,943.476 2,947.519 The 8tatem8nl of financial activities ncludes all galns and losses recogni5ed in the year. The statement of financial ttties indudes all gains and lossès recognised in the year. All IrMe 8nd expenditure derive from continuing activthes.
SAMUEL WILLIAM FARMER TRUST BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Not08 Flxed assets Investments 12 2.918,8H 2,891,772 Current assets Debtors Investments Cash at bank and in hand 13 14 81 78,747 29,496 159 30.117 27,703 108.324 57.979 Crndttorn: 8mounts falling due wlthln one year 15 12.346) 12.2321 Net current assets 105,978 55,747 Totsl a88ets less current Ilabllities 3,024,822 2,947,519 Charlty Fund$ Caprtal fvnd IoMe fund 16 16 3,018,480 6,342 2,943,476 4.043 3.024.822 2,947,519 The finala1 statements were approv8d by the Trustees on 11 April 2025 qrP r Fox-Andrews Chalmian Mr Ch8rfes Brockis Trustee &diLx) rs Jennifer Liddiard Trustee Mr Bruce Waight Trustsg rs Truste•
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 AGGounting pollcl•s Charfty Inf0MttOn Samuel William Farmer Trust is a public benefit entmy regislered wlh and regulated by the Charity Commission under Gharity No. 1124955 and is gov8med by its Trust Deed. 1.1 Accounung convenllon The finanaal statsmenls have been prepared in accordance with the Trust's goveming document. the Charities Act 2011, FRS 102 Yhe Financial Reporbng Standard applicable in the UK and Republic of Ireland. I'FRS 102.1 and the Charits8s SORP 'Accounling and Reporting ty Charilie8.' Statemènt of Recommended Practice applicable to charities preparing thr accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" lfrffedive 1 January 2019). The Trust is a Public Benefit Entity as deffined by FRS 102. The Trust has taken advantaga of the provisions in the SORP for ch8riti&5 not lo prepare a Statement of Cash Flows. The financial statements have departed from the Charities {Aeeounts and R8portsl Regulation5 2008 onty to the extent required lo provitle a true and lair vi8w. This departure has involved following the Statement of Rocommended Practice for tharilies applying FRS 102 rather than the version of the Ststement of Reccffimended Pract is referied to in the Regulation5 but which has since been withdravm. The financial statemenls are prepared in steding, which Is the funcilonal currency of the Trust. Monetary amounts in these financial statements are rounded to the neorést £. The finanaal ststemenls have been prepared under historical cost convention. m¢xlffied lo include the revaluation of fmncial instruments at fair value. The principal accounting policies adopt&J a set out below. 1.2 Golng concern There are no material urKertainties that may cast signrficant doubl about the Tru$l'$ abiliiy to c¥)nb'nue as a gcAng conrn, thu8 the trustees continue to adopt the goiThJ concem basis of aUntIng in preparirKJ the financial 5tstements. 1.3 Charitable funds Income fiJnd is available for use al the discretion of the trustees in futther8nc8 of their charitsble objectives. Capital lund is invested lo generate income for distribution. The Trustees hav8 the power to transfer sufficyant fvnds from the Capital ftjnd to the Income fund lo c18ar any defkat. 1A Income l income Is recogn18ed cfflce the Tnjst has entiuemgnl to the Income, il 1$ probabie that the income wll to received and the 8mount of income receNable can bg measured reliably.
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aceountlng pollcl•s (Conllnuedl 1.6 Expenditure Expenditure is recognised once there Is a legal or constructe obligation lo transfer economic beneffit to a third paty, rt is probable Ihol a transfer of economic benefits will be requlred In settlement, and thè amount of the obli9alion can be measured reliably. Expenditure is dassified by activity. The costs of aach activity are made up of the total of dir&t costs aTrJ shared costs, induding support costs invoNted in undertaking each activty. Direct costs attributatle to a single activity are allocated directly to that activty, Shared costs thich contribute to mcie th one activity and support costs which are not atributable to a single adivity are apportioned b&en those act5vis on a ba$18 consistent with the use of resources. Support costs are those costs Incurred directly in support of expenditure on the objects of the Trust Govemance costs a those incurred in wnneclion with administration of the Trust and compliance with consb'lulignal and statutory requirements. All expenditure is indu81ve of irrecoverable VAT. 1.6 Flxgd asset Investments Fixed asset investments are initially measured al tranfpaclion prti exduding trans•dion costs, and a subsequenuy measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure} ft>r the year. Tiansaciion costs are expensed as incurred. 1.7 Cash and Gash equlvalents Cash at b8nk and in hand indudes cash. 1.8 Flnanclal In$trum8nts The Trust only has financial a$set8 and financial liabilities of a kind that quallfy as basic finanrial instruments and therefore the Trust has electèd to apply the provisions of Section 11 'Basic Finanaal Instruments, and Section 12 '0ther Flnancid Instruments Issues, of FRS 102 to all of its financial instruments. Fin8ndal Instruments are recognised in the Trust's balance sheet when the Trust tOmeS party to tho ¢onlr8Ctual provisions of the instrument. 1.9 Taxatlon The Samuel Wlliam Farmer Trust, a8 a registered Charity. obtans exemption from tsxallon under part 10, ITA 2007 and s.256 TCGA 1992. Investment Income Inct)m• fund Income account 2024 2023 Evelyn Partners". Investment income COIF d8posil inleresl 82.782 70,373 160 82,968 70,533
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Investment managomont Costs Capltal funds geneyal 2024 C8pftal nds g8n8ral 2023 Evelyn Partners.. Inveslmenl management fees 24,153 23,611 24,153 23,611 Expendltur• on charlt•blo 4¢tlvities 2024 2023 Dlrect costs Grant fiJnding of acliwties (see note 5) 72.200 58,762 Share of support and governanc8 costs (see nots 61 Supwt Governance 4.242 4.227 3,633 4,095 80,669 66,490 Analys1$ by fund Unrestricted funds 80.869 66.490
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grnnts payable 2024 2023 Grants to In¥titutlon8: Annual Gran18 Roy81 Agricultural Benevolent In5tilulic IndependentAge 10,000 10.000 10.000 10,000 20.000 20,000 Ctal Grants Alexander Dewne Chiklren's Cancer Trust Akheimers Support Caenhill Countryside Centre Canal & River Trust Community Safrty Education Care Home Volunteers Churchfields Village School Clapton Common Boys Club Enham Trust Faitheld Fam Trust Friends of Westonbirt Arboretum 1,000 2.000 2.632 2,000 1,100 3.000 2,500 4,000 1,000 3,000 5,000 2,500 Gulde Dogs for the Bllnd Hope ForTomorrow Julia's House, Devize$ LarkriBe Communty Fami Pennyhooks Farrn Trust People Against Povety Prospect Hospi Re-Engage Sch¢xsl Rgader$ Tall Ships Youth Trust Trames & Kennet Narrow Boat Trust Tre Devenish Bradshaw Charitable Trust The St*s Appeal.. Sallsbury H¢)sPital Uncle Paul's Chilli Farm WItshi Air Ambulance Wltshire Bobby Van Trust Wltshire Omithological Society Wltshire Rural Music School Wltshire Scrapstorg Youth Adventure Trust 5.000 1.830 5,000 5,000 2,000 2,000 1,500 2,000 2,000 2,000 2,500 2,000 2,000 1.500 s,000 2,000 5,000 1,000 1,000 2,500 2,000 2.000 2,000 51,000 37,562 Grants to Indlvldual8 Infimi. Old Age and Long Service IAtJrker 1.200 1,200 Total 72,200 58,762 10-
SAMUEL WILLIAM FARMER TRUST NOTES TO ThE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2024 Support cmts and govemance costs Support Governance Costs costs 2024 Support Governanc• costs costs 2023 Steff cost5 Insuran Miscellaneous expenses Refurbish memori81 Travel, postage, st8tionery, meeting 8XFenses etc.. Includes reirnlyjrsed to 811 Trust8es and 8ecretsry 3,000 85 40 700 225 3.225 85 40 700 3.000 223 82 225 3.225 223 82 417 1,264 328 836 1,164 IndgFendent examin8lh)n fee Accountancy Cost oftrustee meetings 834 1.980 341 834 1,980 341 792 1,860 382 792 1,860 382 4.242 4.227 8,469 3.633 4,095 7,728 Net movement In fund8 2024 2023 The net movement In I5 is stated after chargingllcredrting)". Fees payable for the independent examination of the tharity's financlal ststements 834 792 Trustses 2024 2023 ReMuratIon 225 225 Reimbur8ed exptn38s 1,122 1.120 Under the lems of the Trust Deed eath Trustee receives a payment of É45 durlng the year. Trustees have been reimbursèd for the biannual Trustees, meeting meal and travelling expenses. Employo8S The average monthty number of employees during the year was.. 2024 Number 2023 Number Se¢xetary 11
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employefrs {Contlnued) Employmont ¢08t• 2024 2023 Il*dge8 and salarie$ 3.000 3,000 There were no ompjoyees whose annual remuneration was more than £60.OLh). 10 Net galn8lllosses) on inv•stmonts Capital funds 2024 Capital fund$ 2023 Revaluab"on of investments Realised gainl{lossl on sale of investments 113,288 114.1311 97,672 (122) 99.157 97,750 11 Taxallon The charty is exempt from taxation on its actiwties becaltse all its income is applEd for d)arilable purposes. 12 Flx•(l au8t investments Listed Investments Cost orvaluatlon At 1 January 2024 Additions Valuation changes DisJ)osals IProceeds £466,129) 2,891.772 394,044 113,288 (480,260) At 31 December 2024 2,918,844 Carylng amount At 31 December 2024 2,918,844 Al 31 Decembw 2023 2.891,772 I Investments are carried al their fair value. Investments in equities and fixed interest sewnlies are trad8d in quoted public markets, primarity the London Stock Markets. The basis offair valu8 for the listed investments 1$ equNalent to the market Value. using bid price. The rev8luatOon was performed by Evelyn Partners. 12-
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Debtors 2024 2023 Amounts falllng due wlthln ono y•ar: Other debtors Prepaymerts and acLnJed income 25 56 74 81 159 14 Current asset investments 2024 2023 Cash hold ty Evelyn Partners 78,747 30,117 16 Credltors: amounts falllng duo within one year 2024 2023 ACttllS and deferred income 2,346 2.232 16 Ststemenl of funds ststemonl offund$- current y•ar Movemollt In funds Resourc88 Transf¢ pond8d 8alan¢• at 1 Janwry 2024 Incomlr Galn¥ and 8alanu 4t IoH¢8 310g¢•mber 2024 Capital fund Inccffie fvnd 2.943.476 4.043 {24,1531 {80,6691 99.157 3,018.480 6.332 82,958 2,947.519 82.958 (104.8221 99.157 3,024,822 Statsment of funds- prevlous y••r Movemgnt In funds Resources TrnMleYs •xp8nd6d B11•n •l Incomin9 1 January 2023 reoourG9S GOI and 8alan¢o Ot los 31 Decornb•r 2023 Capital fund Income fund 2.869,337 123,611} 166,490} 97,750 2.943,476 4.043 70,533 2,869,337 70,533 190.101} 97.750 2,947,519 The Trust has knvo funds, Income and Capital. Grants are made from the Irme FuTrJ. If the Income Fund is in deficit then the Trustees have the wwer to transfer sufficient funds from the Capital Fund to the Income Fund to clear the deficit. 13-
SAMUEL WILLIAM FARMER TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Analysis of net as¥9ts b8twe8n lunds Incom• fund Capltal fund 2024 2024 Total Inme fiJnd Capltal fund 2024 2023 2023 Total 2023 Fund balances al 31 December 2024 are represented by.. Investrnenls Current assetsllliabilitiesl 2.918,844 2,918,844 99.636 105,978 2,891.772 2,891,772 51,704 55,747 6.342 4,043 6,342 3,018.480 3.024.822 4,043 2,943.476 2.947,519 18 Relal¢d party transactlons Thore were no disdosable relate(# party transactions during the year12023- £Nil). 14-