FRANT SCHOOL TRUST Year ended 31 December 2024 FRANT SCHOOL TRUST Registered Number: 306491 REPORT AND ACCOUNTS For the year ended 31 Decem ber 2024 Managing Trustees: Juliet Nightingale Kyle Laidler Reverend Brendan Martin The Managlng Trustees are the Incumbent of the Benefice of Frant with Eridge and the Churchwardens for the time bein& of the Ecclesiastical Parish of St Albans, Frant. Custodlan Trustee: The Chichester Board of Finance Independent Examlner: Duncan Hardy Hazelhurst Down Lane Frant TN3 9HP Office Address: St Alban's Church Office Church Lane Frant Tunbridge Wells TN3 9DX Telephone: 01892 750638 FRANT SCHOOL TRUST Year ended 31 December 2024 REPORT OF THE TRUSTEES The Trust is administered and managed by th¢ Managing Trustees, subject and in confonnity with a Scheme approved by the Charity Commissioners dated 12th April 1990. REPORT OF THE TRUSTEES The Trustees remained the same from 2023 and met on 22 September 2025 The property, 11 Great Durgates Close, Wadhurst, which is owned by the Trust and brings in rental Income, with the money being used for the charitable purposes of the Trust, continued to be managed by the Tunbridge Wells Agent Belvoir. The property is let on a Shorthold Tenancy Agreement to Dudley Jolner and Thelma Joiner. The rent was £1,675 which was increased in October 2024 to £1,750. In June 2024 an inspettion of the property was carried out, who reported that it was being well cared for by the tenants and was in good order. Work was required on the conservatory roof and a new microwave. A reverter trust fund had been held in trust by Chichester Diocese and as the result of the reverter being overturned, the money was reinvested as part of the trust. The capital sum of £129,599.62 was returned by the Diocese to the trust on 9 May 2024 and was immediately invested with CCLA Fund Managers, resulting in the receipt of interest. To 'match' with the inclusion of the reverter in the Trust accounts, the property, 11 Durgates is also being brought into the Trust accounts. The property was valued as at rd the 23 October 2025 by Doorknobs Property Management Letting and Sales Specialists and a reasonable view was taken to assess its value as at the 31 December 2024 at £680,000. As explained below, while the status of the Trust and its relationship with the Church, the School and the wider community is being discussed and a final position as to the use of the reverter and the property has not been concluded, from a financial and usage point of view, it seems sensible, to include the property as an asset of the Trust. The Trust has legal ownership of the property and accordingly, it is not recognised in the accounts of the Diocese or anywhere else. While the Trustees await the conclusion of discussions with the local community together with the Diocese, the property will remain accounted for in these financial statements The income of the trust exceeds the expenditure of the trust in the knowledge and expectation that the funds will be used as a contribution towards the building of a new preschool at Frant School. THE FUTURE OF THE TRUST The Frant School Trust is run and managed by The Rector of Frant Church, and the two churchwardens, with Chichester Diocese as Custodian Trustees. There is need to finalise the legality of the trust following the vesting of Frant School and School House: "The vesting of the lond ond buildings known as Frant School and the School House property and the mointenonce of its status os a school and the management of School House, is still in the process of change with the sale of School House & the cessotion of the school. The changes will be presented to the Charity Commission in due course to ossess their accordance with the Charity Commission Scheme. This has been in process since 2010 and thanks to Diocese he5p, we have been able to finalise the reverter which no longer applies which means we are now in the position to present changes following the cessation of Frant School to the charity commission for a long term solution to the Frant School Trust. .continued The Frant School Trust owned and managed the old Frant School including the land and School House until 2010 when the school was sold by our Trustees (Churchwarden Jane Emler oversaw that) and the school was moved to the new site. The Trustees would like to look at a lon8 term solution for the Trust: Firstly the Trustees of the Frant School Trust acknowledge that the Trust was set up In the 19th Century, effectively out of the education work which Frant Church had already begun. Frant School was set up in 1816 and the old school built in 1852 and it was much later that a trust was set up in order to effectively run and manage the school in the days before diocese involvement, or county involvement, or indeed school governors. Secondly the assets of the old school and school house held in the trust came about by generous local giving. The people of Frant parish wanted to invest in the education of their children and so through the Church began the school. and then built the school and School House. The fatt that this is historic Frant money for the education of the parish means the current trustees are totally committed for the continued assets and money to be used for education within Frant as outlined in our charitable purposes: "{1) in providing ot the school of the charity such speciol benefits of ony kind not normally provided by the local education authority as the manoging trustees may from time to time be agreed between the school governors and the managing trustees after consultation with the local education authority. (2) in otherwise promoting the education of children and adults who ore resident in the porish of Frant." The trustees are looking at the most effective way to ongoingly manage the trust moving forward. We are attively pursuing the idea that the Frant School Trust is effectively subsumed back into the Frant Church as a restricted fund within the PCC, whilst retaining the same charitable purposes for the trust. This is for a number of reasons: i) The Frant School Trust orlginated out from Frant Church and as such shares three of the key trustees with Frant PCC. 2) Since the Frant School Trust and Frant Church PCC share the same Trustees it has led to confusion about the nature of the trust- effertively everyone thinks grants from the trust are coming from the Frant Church PCC and not a separate trust, despite trying to be clear about this. By brin8in8 Frant School Trust as a restricted fund into the PCC would in effect create what many think is the case already. 3) The burdensome nature of running the Frant School Trust for the Frant School Trustees is onerous when as Rector and Wardens we are also already runnln8 Frant Church PCC. The trustees belleve that greater transparencv, oversight, governance and scrutiny of the fund would be achieved by having the trust under the PCC with the oversi8ht and publicity that is available through the Annual Meeting of the Church. y bringing the Frant School Trust into a restricted fund of Frant Church PCC it would increase oversight of and management of the assets, as well as our ability to publicise how the trust assets are being used in the parish for education through the Church Annual Meetings and the ability of the church for wider publishing of reports and accounts that enables. Therefore the Trustees have liaised with the custodian Trustees, The Diocese of Chichester, and instructed Edward Conner Solicitors to act on behalf of the Trustees to pursue a way forward for the ongoing work of the trust, including the ongoing income from the house, 11 Durgates Close, in order to continue to meet the charitable aims of the Trust for education in Frant for future generations. TREATMENT OF FUNDS FOLLOWING INCLUSION OF REVERTER ANDTHE PROPERTY Until such time as all matters relating to the Trust have been satisfactorily resolved all funds will carry the title 'Restricted', meaning that all Custodian Trustees must agree through meeting as to the Ljse of the funds to satisfy the objetts of the Trust. EXPENDITURE MADE BY THE TRUST 2024 l) Frant Preschool The trustees are keen to support and expand the work of Frant School, and as such have undertaken preliminary work to see whether it might be possible to bLJild a preschool on the School site, and under the management and governance of the school. This was taken forward by the Rector (who is ex officio governor) along with the one of the acting executive head of Frant School and the governors. A small working party was put together to take this proposal forward, Frant School Trust have made initial investments towards the Preschool including professional fees for an architect to do drawings for the preschool and planning permission for the proposal. The preschool would benefit in a number of ways: Frant Nursery was closed a number of years ago, and there is a need for local provision. To enable seamless transition for Children into receptlon class at school which we believe will be beneficial for their education. To enable parents to drop off younger children at the slmilar time/place as school children. To ensure pupil intake into reception as we believe if we have them in younger, they will stay at the school into reception, ensuring a full cohort each year which is necessary for the ongoing funding the school requires. To increase our mission and service to our community as a Church to support younger families. 2) The Youth and Famllies Minlster The reason we have supported the work of the Youth and Familles Minister was that it was a very effective way of enabling education in Frant to youn8 people and across ages: Helping with Frant School assemblies and lessons. Helping to support the school at lunchtimes. Helping with the school residential trip. Running Forest School Activities for the school, which was especially good for those children who struggled with friendships and education generallyi learning team building, boosting confidence and teaching new skills. Running the Church Holiday Clubs in the year with over 30 children attendin& where children are taught Forest School Skills, archery, group attivities, and about the Bible. Running the village Youth Club, which is one of the few activities that pulls in youth across the village, and as part of that teaches the children about the Bible and how to live well. Helping with the Little Fishes toddler group, teaching the children songs and bible stories. This has been a big investment for the trust, and has shown real benefit for the Frant community for education. There will be very few children in the village who have not been positively impacted by the good work of the Youth and Families Minister. 3) The Frant Frlendshlp Group This group works among older people within the parish of Frant, for exercise classes, and trips to the education and benefit of the group. 4) Leavers Bibles Every year the Trust pays for a Bible for every child leaving Frant School. During the year grants were made for the following:" Frant Primary School Leavers Bibles 137.61 Frant Friendship Group 750.00 St Albans Church Lyrant towards Children and Families Minister 9256. 34 Frant Preschool Preperatory work (Architect plans) 1578 Frant Preschool Preperatory work (Architect plans) 1800 Frant Preschool Compliance Building Control 810 Total £14,331.95 Signed on behalf of the Trustees q OJ*6&r The Reverend Brendan Martin 2025 Juliet Nightingale 2025 qIL O ddlor lo FRANT SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 December 2024 This Year Last Year Restricted Funds Incoming resources Rents receivable 20.325 19,700 Diocesan Reverter 3,677 7,481 Interest receivable 1,181 1,200 Total incoming eurrent resources £28 381 Resources expended Grants for charitable purposes 14,332 13.214 Property outgoings (note 2 and 4) 5,842 8,012 Professional charges (note 5) 600 1,472 Totsl resou rces expended £20 774 Net incoming resources for the year £4,408 £6,283 Capital - Reverter £129,599 - Durgates Property £680,000 Balance at l January 2023 £61724 Balance at 31 December 2024 £882 014 FRANT SCHOOL TRUST BALANCE SHEET 31 December 2024 This Year Last Year Fixed Assets I l Durgates 680,000 Current assets Cash funds CCLA Investment Fund 183,677 Bank balances 19.626 69 Total cash funds £203,303 £69,385 Debtors Rents in arrears 1,564 1,057 Total current assets £204,867 £70,442 Current liabilities Creditors and provisions (2,853) (2,435) Total current liabilities £(2,853) £(2,435) Net eurrent assets £202,014 £68,007 Funds Restricted funds Approved by the Trustees: 882 014 007 The Reverend Brendan Martin Dated Z q.ID.Zoz4 2025 Juliet Nightingale Dated glk o 2025 FRANT SCHOOL TRUST Year ended 31 December 2024 Notes to and forming part of the Accounts (l) Land and Buildings The following properties are owned by the Trust and vested in the Custodian Trustee.'- Land together with the buildings known as I l Great Durgates Close, Wadhurst. which was purchased in September 201 l and which will forni the basis of rental income for the future years. (2) No Trustee, nor any person connected therewith, was in receipt of any remuneration or ¢xp¢ns¢s from the Trust duTing the year. (3) The Trust does not have any employees. (4) Property costs reflect expenses incurred net of refunds and sums due from persons for whom costs have been incurred by the Trust (5) Professional charges represent cost incurred satisfying the Trusts compliance requirements. Should there be the risk of extra costs being incurred a provision is made. which is periodically adjusted when actual costs have been incurred . continued FII4NT SCHOOL TRUST ren 31D r 2024 Report of the Independent Examiner Report to the trustees of Frant School Trust on the accounts for the year ended 31 December 2024 set out on pages two to five inclusive. in The trustees of the charity are responsible for the preparation of the accounts. The trustees of the charity consider that an audit is not required for this year under section 144 of the Charities Act 2011 (The Charities Act) and that an independent examination is needed. It is my responsibility to:_ examine the accounts (under section 145 of the Charities Act) to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5){b) of the Charities Act; and state whether particular matters have come to my attention. mi My examination was carried out in accordance with 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 the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. . continued 10 FRANT SCHOOL TRUST Year ended 31 December 2024 Inde enden ExamRn In connection with my examination. no matter has come to my attention:_ ( l ) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the Charities Act. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met. or (2) to which, in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed Duncan Hardy Hazelhurst Down Lane Frant TN3 9HP Dated 1015 2025 FRANT SCHOOL TRUST Registered Number: 306491 REPORT AND ACCOUNTS For the year ended 31 December 2024 INDEX Page l Trustees and administration Pagie • Report of the Trustees Page Statement of Financial Activities Page é Balance Sheet Page l Notes to the accounts Page W Independent Examiners Statement 10.-11 12