THE FARNHAM INSTITiTfE CHARITY ANNUAL REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Charlty Number 305033 BUSINESS ADVISORS &ACCQUNTAPITS The Granary Hones Yard Waverley Lane Farnham Surrey GV9 8BB
THE FARNHAM INSTITUTE CHARTrY FINANCIAL STATEMENTS YEAR ENDED 30 SEvfEMBER 2024 coKrENTS PAGE Trustees Annual Report Ito4 Independent Examiner's report to the Trustee5 Statement of financial activities Balance sheet Notes to the financial statements 8t013
THE FARNHAM INSTrruTE CHARITY TRUSTEES ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2024 The Trustees present their report and the unaudited financial statements of the Charity for the year ended 30 September 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity name The Farnham Institute Charity registration number 305033 7 Crownwood Gate Beavers Road Farnham Surrey GU9 7GE The Trustees The Trustees who served the Charity during the year and since the year end were as follows: Andrew Lodge (Chairman) Emily Joyce {Treasurer) Margaret Daniels {Secretary) Peter Greenyer Max Lyons Barbara Milam ChristopherTibbott Jerome O'callaghan BankeTS Lloyds Bank 75 Castle Street Farnham Surrey GU9 7LT Independent Examiner Mr S. P. F. Howell FCCA TC Group The Granary Hones Yard Waverley Lane Farnham Surrey GU9 8BB
THE FARNHAM INSTITUTE CHARJTY TRUSTEES ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2024 STATUTORY ADMINISTRATIVE DEfAILS The Trustees present their report, the Independent Examinerfs report and financial statements for the year ended 30th September 2024. 5TRucfuRE. GOVERNANCE AND MANAGEMENT The Charity is governed by a declaration of trust originally dated 1897 and most recently updated on 17th January 1977, under a scheme approved bythe Charity Commission. The Charity is controlled, managed and operated by the Trustees. The Trustees are all unpaid. Trustees are appointed from interested and competent residents of Farnham and surrounding areas. New Trustees are provided with copies of the goveming document and accounts as well as Charity Commission guidance for Trustees of charities. TheTrustees examine the major risks the Charity faces when considering its future plans and projects. The Charity has developed systems to monitor and control these risks to mitigate any impactthey may have on the Charity. OBJEcfivES AND ACTIVITIES The object of the Charity is the management and letting of the Farnham Institute building, South Street, Farnham, and the application of the income derived there from for any charitable purposes for the general benefit of the inhabitants of Farnham. The Trustees have had regard to the guidance issued by the Charity Commission on public benefit and believe that they are advancing community development and culture in Farnham through their grant making policies to organisation5 active in the locality. ACHIEVEMENTS AND PERFORMANCE The Charity distributes grants to causeswhich benefit the people of Farnham. Duringthe yearthe Trust made grants to 34 {2023- 261 local organisations amounting to £88.58412023: £26,538). Having agreed a new lease with the charivs tenant in 2023. the Trustees were keen to utilise some of the recent profits made on their investments, by showing their commitment to a significant local cause. The Trustees therefore agreed to make a one-off donation of £50,000 during the year to The Phyllis Tuckwell Hospice new building project. The Charity has also continued to offer assistance to the Farnham Support Fund and has also supported Farnham in Bloom, which achieves the joint aims of supporting a very worthwhile community project and raising the profile of the Charity in Farnham, as a source of support for other well deserving activities in the town. Details of the organisations benefitting from these grants are given in note 5 to the financial statements.
THE FARNHAM INSTrruTE CHARITY TRUSTEES ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2024 FINANCIAL REVIEW The Charity's assets comprise a building on South Street, Farnham, Surrey, which is currently leased to the Bush Hotel Limited, who use the charit¢5 building primarily for conferences and events. The lease was agreed in 2023 over a 20-year term, with staged increases and break clauses at each 5-year point. During the year under review thetotal value of the Charity's Funds reduced from £581,276to £577,592 {2023 - increase from £553,374 to £581,276}, the reduction in funds being a result of the significant one off donation to The Phyllis Tuckwell Hospice. The reduction in funds was lower than anticipated, due to further gains in investments during the year. Where in previous years the chariws annual grants have been linked to rental income received, the Trustees have reconsidered this position given the lower level of rental income and are in agreement that distributions from gain5 in investments shall also be considered, where the needs of local organisations are sufficientto warrantthe use of the additional funds. The future requirements for the servicing the building will be kept in mind when making any additional distributions. The Trustees are conscious of the impart of fluctuations in financial markets on the value of the investment5. The stewardship of the Charitvs Investments is with CCLA in a COIF Charities Investment Fund. The Trustees are comfortable that CCLA has a proven track record in safeguarding charities investments, but also keep the position under review. The charitws reserve policy is to maintain sufficient liquid and unrestricted funds to meet the charities anticipated requirements after taking into consideration rent receivable, to ensure that there is no immediate impact on charitable activrties should its income stream be interrupted. At 30 September 2024 the Charity's unrestricted liquid assets stood at £29,71712023- £126,457), with a further£55,878 of funds accessible after 200 days. The Trustees have reduced the level of liquid funds available now that the property lease has been agreed, in order to obtain better rate5 of interest, to mitigate the impact of inflation on the charitys cash funds. The Trustees consider the overall position of the Charity is satisfactory and foresee that funds will be available to meet future obligations. INDEPENDENT EXAMINER Simon Howell FCCA, of TCGroup has been re-appointed as Independent Examinerforthe ensuing year. RESPONSIBILITIES OF THE TRusfEES The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & 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 the Charity and of the incoming resources and application of resources of the Charity for that period.
THE FARNHAM INSTITUTE CHARITY TRUSTEES ANNUAL REPORT YEAR ENDED 30 SEPTEMBER 2024 RESPONSIBILrriES OF THE TRUSTEES (cont•nuedJ In preparing these financial statements, the Trustees are required to: select suitable accounting practices and apply them consistently- observe the methods and principles in the Charities SORP 2019 IFRS 102); make judgements and estimates that are reasonable and prudent,. state whether applicable UKAccounting Standards have been followed. subjettto any material departures disclosed and explained in the financial Statements: prepare the financial statements on the going concern basis unless It is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the finar7cial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. /u Signed on behalf of the Trustees on ...... 2025 by 7 Crownwood Gate Beavers Road Farnham Surrey GU9 7GE Andrew Lodge Chairman
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FARNHAM INSTITiJfE CHARITY YEAR ENDED 30 SEPTEMBER 2024 I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2024 which are set out on pages 6 to 13. RESPONSIBILITIES AND BASIS OF REPORT As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the ACV). I report in respect of my examination of the chariws accounts carried out undersection 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charitv Commission under section 145151{bl of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 111 accounting records were not kept in respect of the charity as required by section 130 of the Act: or 12} the accounts do not accord with those records; or 131 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair viev/ which is not a matter considered as part of an irsdependent 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 accounts to be reached. Simon Howell FCCA, of TC Group The Granary Hones Yard Waverley Lane Farnham Surrey GU9 8BB 15 Dated: ................ .... ...... 2025
THE FARNHAM INSTITUTE CHARITY STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 30 SEPTEMBER 2024 Unrestricted Unrestricted Total Funds Total Fund5 2024 2023 Note INCOME AND ENDOWMENTS FROM: Charitable activities 31,108 655 48,958 297 Investments TOTAL INCOME 31,763 49,255 EXPENDITURE ON: Charitable activities (91,939) 139,9121 TOTAL EXPENDITURE {91,939) 139,912) Net gainslllosses) on investments 56,492 18,559 INCOME/(EXPENDITURE) Transfer between funds (3,6841 27,9Q2 NET MOVEMENT IN FUNDS {3,684) 27,902 RECONCILIATION OF FUNDS Total funds brought forward 581,276 553,374 TOTAL FUND5 CARRIED FORWARD 577,592 581,276 The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The note5 on page5 8t0 13 form part ofthe5e f4naDcial 5tstements.
ThE FARNHAM INSTITUTE CHARITY BALANCE SHEET 30 SEvfEMBER 2024 2024 2023 FIXED ASSETS Investments 501,311 448,819 CURRENT ASSETS Debtors Cash at bank and in hand io 95,839 165,677 95.839 (19,558) 165,677 129,2201 CREDITORS: Amounts falling due within one year li NEf CURRENT ASSErs 76,281 136,457 TOTAL ASSETS LESS CURRENT LIABIUTIES 577.592 581.276 NET ASSETS 577,592 581,276 FUNDS Unrestricted income funds 577.592 581,276 TOTAL FUNDS 577,592 581,276 These financial statements were approved by the members of the committee and authorised for issue /0 2025 and are signed on their behalf by: Andrew Lodge Chairman The notes on pages 8 to 13 form part ofthese financi•l statements.
THE FARNHAM INSTITufE CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES Basis of accounting The accounts {financial statements) have been prepared underthe historical costconvention with items recognised at cost or transaction value unless Otherwise stated in the relevant notelsl to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recomrnended Practice issued in 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Farnham Institute Charity meets the definition of a public benefrt entity as defined by FRS 102. The trustees consider that there are no material uncertainties about the charitws ability to continue as a going concern. Fund5 Strurture Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. Restricted funds can be used at the discretion of the Trustees. See note 11 of the financial statements for further details. Income All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income can be measured reliably. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that Settlement will be required and the amount of obligation can be measured reliably. All expenditure is accounted for on an accruals basis, inclusive of irrecoverable VAT. Fixed asset investments Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Charity does not acquire or use put options. derivatives or other complex financial instruments.
THE FARNHAM INSTITUTE CHARITY NOTES TO THE FINANCIAL STATEMENT5 YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES (contlnued) Realised gains and losses All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments (if any) are calculated as the difference between sales proceeds and their opening carrying value ortheir purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated a5 the difference between the fair value at the year end and their carrying value. Realised (if any) and unrealised investment gains and losses are combined in the Statement of Financial Activities. INCOME FROM CHARrrABLE AcfiviTIES Total Funds Total Funds 2024 2023 Rents received 31,108 48,958 INCOME FROM INVESTMENTS Total Fund5 Total Funds 2024 2023 Bank interest received 655 297 EXPENDITURE ON CHARITABLE AcnviTIES 2024 2023 Grants payable (see note 5 below) Support costs (see note 5 below) Governance costs (see note 6) Property costs 88.584 1,855 1,500 26,538 1,597 1,365 10,412 91,939 39,912 ANALYSIS OF GRANTS Grants to institutions Support cost Total Educational Young people's services Services to the older community The Art5 Community events and projects Sports and wellbeing Total 11,059 7,640 51,249 1.970 8.612 8,054 309 309 310 309 309 309 11,368 7.949 51,559 2,279 8,921 8,363 88.584 1.855 90.439
THE FARNHAM INSTITUTE CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 ANALYSIS OF GRANTS (continuedj Analysis of educational grants Total Potters Gate School Folly Hill Infant Academy Weydon MAT St Peters Primary School PTFA Helen Arkell Dsylexia Charity The Abbey School Greenways Pre School 1,81M) 1,560 1,500 3,000 900 2.000 299 Total 11,059 Analysis of Young Peoples Services grants Total Home Start Waverley 1st Bourne Guides Change of Scene Disability Challengers The Eikon Charity 40 Degreez 1,040 1,500 600 1.000 500 3,000 Total Analysls of Services to the Older Community grants Total Wrecclesham over 60s Farnham Assist Phyllis Tuckwell Memorial Hospice 800 449 so,000 Total 51,249 Analysis of The Arts grants Total Creative Response Arts Ltd Voices Together New Ashgate Gallery Lions Club of Farnham 520 650 500 300 Total 1.970 -io-
THE FARNHAM INSTITUTE CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 ANALYSIS OF GRANTS Icontinuedj Analysis of Community events and projert5 grants Total Hive Helpers Hale Carnival Committee Farnham Carnival Weyside Rotary Farnham Herald Archives - prior year pledge no longer required Farnham Support Fund Farnham in Bloom Hale Community Centre 452 2.000 2.400 900 (1,0001 2,500 750 610 Total 8,612 Analysis of Sports and wellbelng grants Total Headway Surrey Head Injuries Association The Woodlarks Centre Surrey Drugs & Alcohol Card Farnham Charity Bike Ride The Hygiene Bank Farnham Pilgrims Marathon Parish of the Bourne PCC 500 2,400 1,304 1,000 600 1,500 750 Total 8.054 GOVERNANCE COSTS 2024 2023 Trustees expenses Independent Examinerfs Fee 850 650 800 565 1,500 1,365 TRUSTEE REMUNERATION No remuneration directly or indirectly out of the funds of the Charity was paid or was payable to any Trustees or to any person or persons known to be connected with any of them. Expenses totalling £85012023 - £8(Kl) were reimbursed to eight Trustees12023- eight). RELATED PARTY TRANSAcfioNS There were no related party transactions during the year (2023- nill. li-
THE FARNHAM INSTITUTE CHARITY NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2024 FIXED ASSET INVESTMENTS COIF Charities Investment Fund Accumulatlon Shares 2024 Market Value at l October Gains/(losses1 on investment 444.819 56,492 Market Value at 30 September 501,311 Historical cost at 30 September 19,739 10. DEBTORS 2024 2023 Other debtors 11. CREDITORS: Amounts falling due wlthin one year 2024 2023 Other creditors Accruals 10,245 9,313 10,608 18,612 19,558 29,220 12. ANALYSIS OF CHARITABLE FUNDS ANALYSIS OF MOVEMENT IN UNRESTRicfED FUNDS Balance at Incoming l Oct 2023 resources Expenditure Transfers Gains and Balance at 105ses 30 Sept 2024 General Funds 581,276 31,763 (91,939) 56.492 577,592 ANALYSIS OF MOVEMEMf IN UNREsTricfED FUNDS- Previous year Balance at Incoming l Oct 2022 resources Expenditure Gains and Balance at losses 30 Sept 2023 Transfers General Funds 553,374 49,255 (39.912) 18.559 581.276 12-
THE FARNHAM INSTITUTE CHARJTY NOTES TO THE FINANCIAL STATEMENT5 YEAR ENDED 30 SEPTEMBER 2024 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds 2024 Total reserves Investments Cash at bank Current assets Current liabilities 501,311 95.839 501.311 95,839 119,558} 119,558) 577,592 577,592 ANALYSIS OF NET ASSEfs BETWEEN FUNDS - Previous year Unrestricted Funds 2023 Total reserves Investments Cash at bank Current assets Current liabilities 444,819 165.677 444,819 165,677 (29,220} 129,220) 581,276 581,276 -13-