THE F.A.F. CHARITABLE TRUST Annual Report and Financial Statements Year ended 30 June 2024 FAF Charitable Trust 23-24 The F.A.F Charitable Trust Registered Charity No: 326137 TRUSTEES M J Ferraro J M Morgan REGISTERED ADDRESS Hare Park House Yelverton Business Park Yelverton Devon PL20 7LS INDEPENDENT EXAMINER Thomas Orchard FCMA The F.A.F Charitable Trust Registered Charity No: 326137 TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2024 Th¢ Trustees present their report together with the financial slatements of the Trust for the year ended 30 June 2024. The financial slalements have been prepared in accordance with the accounting policies sei out in note I to the financial siatements and comply with the trust deed. applicable law and (he requirements of the Statement of Recommended Practice (FRSSE). 'Accounting and Reporting by Charities, issued by the Charities Commission and effective from l January 2015. HISTORY, 0￿EcriVEs AND AcfiviTIES OF THE TRUST The Trust was established by deed daied 7 May 1982 for the benefit and furtherdnce of such charltable Purposes. charilable instiiutions or charitable foundations in England and Wales as the Trnstees may from time to time in their discretion detern)ine. MANAGEMENT AND GOVERNANCE ARRANGEMENTS The Trust is based in the United Kingdom ai the registered office shown on page l. The Trustees who served during the year are shown on page l. The Trustees conduct a risk assessmeni annually to review the major risks faced by the trusi and to ensure they have a sound knowledge of the chariry and are in an infomied Posiiion Tegarding its operations. PROCEDURES AND POLICY FOR GRANT MAKING The TNstees meei on a regular b&sis to decide on charitsble donations to appropriate recipients. ACHIEVEMENTS AND PERFORMANCE OF THE TRUST During ihe y¢ar the Trust has been able to continue its support and this is set out in note 2 to the financial statemenis. FINANCIAL REVIEW, INVESTMENTS POLICY AND RESERVES The Trust made and accrued donations of £12.875 during the year. The funds of the charity have increased by £43,440, with a surplus of incoming resources of £17,601 and an unrealised increa5c of £25,839 in the value of the Trust's investments. Investments held by the trust are managed professionally and day to day management of the trnst's inveslment is delegated by the tru5Eees to the manager. A statemeni of investment principle5 has been produced and is available on request from the trustees at the address Shown on page l of the report. Interest and investment income are credited quarterty without deduction of tax and are retained in the account. FUTURE PLANS The Trustees intend to continue providing grdnts in a similar way by building on the cU￿ent emphasi5 to cary out the original object of the Trust. The F.A.F Charitable Trust Registered Charity No: 326137 STATEMENT OF TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity's trustees are responsible for preparing the annual re￿rt and financial statements in accordance with applicable law and Uniied Kingdom Generdlly Accepted Accounting Praciice. Charity law requires the Tnjstees to Prepare financial statements ￿,hICh give a true and fair view of the state of affairs of the charity at the end of the financial year and of the incoming resources and application of resources of the charity for the financial year. In so doing. the Trustees are required to: selert suitable accounting policies and then apply them consistenily- make judgements and estimates thai are reasonable and prndent: prepare the financial statements on the going concern basis unless li is inappropriate to Presume that the charity will continue in business. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any rime the financial posilion of the charity and to enable ihem lo ensure that the financial statements comply wirh relevant legislaiion. The Trustees are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confim) that so far as they are aware there is no relevani inforniation of which the charity's independent examiner is unaware. They have taken all the steps that they should have iaken as Trustees in order to make themselves aware of any relevant inforniation and io esthblish that th¢ charity's ind¢p¢nd¢nl examiner is aware of that infomiaiion. Approved by the Trustees Michael Ferraro January 2025 The F.A.F Charitable Trust Registered Charity No: 326137 INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF THE F.A.F CHARITABLE TRUST I report on the accounts of the Trust for the year ended 30 June 2024 which are set out on pages 5 to 8. Respective resw)nsibililies of the Trustees and Examiner As de￿ribed In page 3. the Truslees are responsible for the preparation of the accounts who consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of the procedures specified in the Genernl Direaions given by the Charity Commissioners under section 43(7) (b) of the Aci. whether particular matteT5 have come to my atteniion. Basis of Independent Examiner's Report My examination was carried out in accordance with the General Direction given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. li also includes consideration of any unusual iiems or disclosures in the accounts and seeking explanalion5 from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence would b¢ required in an audit and consequently I do not express an audii opinion on the accounts. My report is made solely to the Trustees for the purwse of the statement made below. To ihe fullest extent perniitted by law I do noi accept or assume responsibility to anyone other than the Trustees for my work for this report or the opinions I have fonned. Independent Examiner's Ststement In connection with my examination no matter has come lo my attention: which gives me reasonable cause to b¢lieve thaL in any material respecl the Trustees have not met the requirements to ensure that- proper accounting records have been kept (in accordance with section 41 of the Act). and accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act: and to which, in my opinion, attention should be drawn io enable a proper understanding of the accounts to be reached. Thomas Orchard FCMA Windy Ridge Midella Road Yelverton PL29 6AU January 2025 The F.A.F Charitable Trust STATEMENT OF FINANCIAL ACTIVITIES for the year endd 30 June 2024 2024 2023 Note INCOMING RESOIIRCES Donations Received 19,600 19,600 Interest and Investmeni Income Investment Income 7.695 6.467 10 Bank Interest Investment Income 7,701 27.301 6,477 26,077 TOTAL INCOMING RESOL RCES RESOLRCES EXPENDED Charilable Activities 12.875 34,000 46.875 13.150 12,000 25.150 Investm¢nt TOTAL RESOI:RCES EXPENDED NET INCOMINGIIOI'TGOING) RESOI'RCLS FOR TIIE YEAR (19,574) 927 OTHER RECOGNISED GAIYS (Loss)/gain on inv¢stment assets Investment 25.839 34,0(KJ 6,543 12,000 Accrued Donations Total funds brought forward at l July TOTAL FUNDS CARRIED FORM'ARD.4T 30 JI'%E 332.008 372,273 312,538 332.008 The F.A.F Charitable Trust BALANCE SHEET As at 30 June 2024 2024 2023 CLRRENT A￿ETs Other Investments 370,613 4,835 375,448 375,448 375.448 (3.175) 372,273 310,774 21,234 332,008 332.008 332.008 Bank curr¢nl accounts ET CURRENT A&SETS TOTAL AssEfs LESS CI',RREYf LLIBILITIES PROVISION FOR DONATIONS FALLIYG DI'E ONE I'EAR 332.008 FUNI>S Unreslricted Fund$ Accumulaied Funds Revaluation Reserve 291,660 80.613 372.273 277.234 54.774 332,008 TOTAL CHARITY FiINDS Approved by the trusiees and signed on their behalf by: Trusttt January 2025 The F.A.F Charitable Trust NOTES FORMtNG PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 PRINCIPAL AccouiYfiNG POLICIES ACCOUNTING CONVENTION The accounls have been prepared under the hI￿Orical cost convention. They have been prepared in accordance with th¢ financial reporting standard for small entities (effective January ?015). In preparing the financial statements the charity follows besi Practice as laid down in the Sthtemeni of Recommended Practice- Accounting and Reporting by Charities (FRSSE) effective from JaDuary 2015. The principal accounting p)licies adopted in the preparation of the f￿anCIal slatements are as follows.. Jncoming Resources Income is recognised in the period in which the Trust is entitled to receipt and the amounts can be measured wilh reasonable certainty. Resources Eypended All expenditure is accounted for on an accruals basis. Governance costs represeni costs incurred attributable to the management of the charity's assets. organisaiion. administraiion and compliance with the constitutional and statutory requirements. Fund accounling Funds held by the charity are unrestricted and can be used in accordance with the charitable objects at the discretion of the Trustees. Ihveslments Current asset cash equivaleni investhients are valued at their market valu¢ al the reporting date. Any gains/(105ses) are credite(V(eharged) to the Revaluation Reserve. The F.A.F Charitable Trust NOTES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 CHARITABLE AcfiviTIES 2024 2023 Alzheimer's DISC￿ Society Catholic Children's Sociery Deatblind 870 1,150 1,200 300 910 230 Hospice of St Francis Jeremiah's Journey Macmillan Cancer Relief Medical Delection Dogs Moior Neurone Disease Association 910 .200 300 230 680 900 652 800 870 .150 600 Orchard Vale Trusl Oxford Radcliffe Hospital Charitable Trust Pancreatic Cancer UK 450 530 700 378 230 500 Prostate Cancer kni¢ty St Giles Hospice Step One (St Loyes College) Sue Ryder Foundation Workaid 300 400 680 680 900 900 870 ,150 700 Whiu Kids St Lukes Hospice Plymouth Hospitals NICU Prostate CaD¢eT UK Marie Curie Alzheimer's Society 530 ,250 1250 500 25 150 12,875 13.150 No Trustee has received any remuneration for the year.