Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
Charity number: 328638
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
THE FOLLETT TRUST
Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
THE FOLLETT TRUST
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 11 |
| The following pages do not form part of the statutory financial statements: | |
| Charity Detailed income and expenditure account and summaries |
Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
THE FOLLETT TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2025
Trustees K Follett B Follett R Hart
Charity registered number 328638 Principal office Kings Court London Road Stevenage Hertfordshire SG1 2NG Independent examiner Janice Matthews FCA Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
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THE FOLLETT TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 30 JUNE 2025
The Trustees present their annual report together with the financial statements of the Charity for the 1 July 2024 to 30 June 2025.
Objectives and activities
a. Aims, objective, strategies and activities for the year
This is a charitable Trust operating under the terms of a Trust Deed originally dated 4th May 1990 and amended on 7th April 2009 following the death of one of the Trustees.
The objects of the Trust are to make charitable donations to organisations and individuals for purposes which are wholly and exclusively charitable according to the law of England and Wales. The principal, but no exclusive, areas of interest are education, the arts and medical/health concerns.
The Trust does not engage in raising funds. The Trust funds are regularly replenished by Gift-Aid payments made solely by the Trustees. It is thus a private family trust.
Rebecca Hart (Trustee) administers the Trust on behalf of the Trustees. Decisions regarding donations to be made are taken solely in consultation among and with the approval of the Trustees. No one other than the Trustees are involved in the decision making process. The majority of successful applications however, come from persons and organisations known to the Trustee or in which the Trustees have a particular interest.
To keep administrative costs to a minimum replies are not sent to unsuccessful applicants unless they have provided a stamped and addressed envelope.
There were no significant developments or changes during the year in the activities of the Trust and none are anticipated for the future.
b. Public benefit
The trustees have complied with the duty in section 4 of the Charities Act 2011 and have regard to the public benefit guidance as issued by the Charity Commission as shown in the objectives above.
We have referred to the guidance on public benefit when reviewing our aims and objectives and in planning our future activities in particular, the Trustees consider how planned activities will contribute to the aims and objectives that they have set.
This public benefit statement forms the basis for all judgements regarding operational reports to the Board meetings, in order to be reassured that the facilities and services currently managed by the charity continue to meet these criteria. At these meeting, the Financial Controller also presents the quarterly financial position including taking account of any restricted funds and the Charity's status as a going concern.
Achievements and performance
a. Charitable activities
During the year the total incoming resources amounted to £65,323 (2024: £182,500). During the year the Trust made total donations of £94,921 (2024: £133,657).
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THE FOLLETT TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees have agreed that any significant donations received should be credited to an unrestricted reserve fund and utilised over a period of several years to enable the Trust to maintain a higher level of activity than would otherwise be possible.
c. Financial review and achievements
The Trust's sole activity during the year was to fulfil the objects stated above. Donations made (within the constraints of available funds) have fully met those objects.
Structure, governance and management
a. Constitution
The Follett Trust is a registered charity, number 328638, and is constituted under a Trust deed.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
Approved by order of the members of the board of Trustees and signed on their behalf by: _________ (rue20FBBCSOEE904CD... by: R Hart
(Trustee) Date: 27-Apr-2026
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THE FOLLETT TRUST
INDEPENDENT EXAMINER'S REPORT
Independent examiner's report to the Trustees of The Follett Trust ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 June 2025.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
the accounts do not accord with those records; or
-
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' view which is not a matter considered as part of an independent 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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 27-Apr-2026 634F24DE92A4471... Janice Matthews FCA
Menzies LLP Chartered Accountants Magna House 18-32 London Road Staines-Upon-Thames TW18 4BP
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Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
THE FOLLETT TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025
| Note Income from: Donations and legacies 3 Total income Expenditure on: Donations 4 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 65,323 65,323 94,921 94,921 (29,598) 108,712 (29,598) 79,114 |
Total funds 2025 £ 65,323 65,323 94,921 94,921 (29,598) 108,712 (29,598) 79,114 |
Total funds 2024 £ 182,500 |
|---|---|---|---|
| 182,500 | |||
| 133,657 | |||
| 133,657 | |||
| 48,843 | |||
| 59,869 48,843 |
|||
| 108,712 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 7 to 11 form part of these financial statements.
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THE FOLLETT TRUST
BALANCE SHEET AS AT 30 JUNE 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Current assets | |||||
| Debtors | 6 | 12,750 | 88,000 | ||
| Cash at bank and in hand | 66,364 | 20,712 | |||
| 79,114 | 108,712 | ||||
| Current liabilities | |||||
| Net current assets | 79,114 | 108,712 | |||
| Total assets less current liabilities | 79,114 | 108,712 | |||
| Total net assets | 79,114 | 108,712 | |||
| Charity funds | |||||
| Unrestricted funds | 7 | 79,114 | 108,712 | ||
| Total funds | 79,114 | 108,712 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
R Hart
(Trustee) Date: 27-Apr-2026
The notes on pages 7 to 11 form part of these financial statements.
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Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
THE FOLLETT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. General information
The Follett Trust is an unincorporated charity registered in England and Wales. The charity registration number, together with the principal address, can be found within the reference and administrative details.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The Follett Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
Donation income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
2.4 Gift Aid
In the case of a Gift Aid payment made, income is accrued when the payment is payable to the Charity under a legal obligation. Measurement is at the fair value receivable, which will normally be the transaction value.
Where the right to receive Gift Aid has been established, the amount receivable is recognised as investment income in the Statement of financial activities.
2.5 Taxation
The charity is exempt from income tax on its charitable activities.
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THE FOLLETT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
2. Accounting policies (continued)
2.6 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.7 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from donations
| Donations Gift aid |
Unrestricted funds 2025 £ 51,000 14,323 65,323 |
Total funds 2025 £ 51,000 14,323 65,323 |
Total funds 2024 £ 146,000 36,500 |
|---|---|---|---|
| 182,500 |
4. Analysis of expenditure on charitable activities
Summary by fund type
| Donations | Unrestricted funds 2025 £ 94,921 94,921 |
Total 2025 £ 94,921 94,921 |
Total 2024 £ 133,657 |
|---|---|---|---|
| 133,657 |
5. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 30 June 2025, no Trustee expenses have been incurred (2024 - £NIL) .
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THE FOLLETT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
6. Debtors
| Due within one year Other debtors |
2025 £ 12,750 12,750 |
2024 £ 88,000 |
|---|---|---|
| 88,000 |
7. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds Statement of funds - prior year Unrestricted funds General Funds |
Balance at 1 July 2024 £ 108,712 Balance at 1 July 2023 £ 59,869 |
Income £ 65,323 Income £ 182,500 |
Expenditure £ (94,921) Expenditure £ (133,657) |
Balance at 30 June 2025 £ 79,114 |
|---|---|---|---|---|
| Balance at 30 June 2024 £ 108,712 |
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THE FOLLETT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
8. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Current assets Total |
Unrestricted funds 2025 £ 79,114 79,114 |
Total funds 2025 £ 79,114 |
|---|---|---|
| 79,114 |
Analysis of net assets between funds - prior year
| Current assets Total |
Unrestricted funds 2024 £ 108,712 108,712 |
Total funds 2024 £ 108,712 |
|---|---|---|
| 108,712 |
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Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
THE FOLLETT TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
9. Donations
| APEC Big Give Royal Society of Literature Canon Collins Educational Trust Citizens Advice Stevenage City of Westminster Community Safety Education CIC Dignity in Dying Listening Books Feed Up Warm Up Hertfordshire Community Foundation Home-start Herts Impilo Family Volunteering Club Knebworth PCC Garden House Hospice Care The For Baby's Sake Trust Stevenage Community Trust The Red Shed Project CIC The Royal Veterinary College Stevenage Credit Union Knebworth Parish Council Sarcoma UK Other |
Unrestricted funds 2025 £ 2,500 2,000 1,820 2,500 11,467 1,000 1,000 2,500 1,000 6,000 500 12,860 15,775 1,000 4,000 1,000 1,000 15,000 1,000 750 1,000 - - 9,249 94,921 |
Total funds 2025 £ 2,500 2,000 1,820 2,500 11,467 1,000 1,000 2,500 1,000 6,000 500 12,860 15,775 1,000 4,000 1,000 1,000 15,000 1,000 750 1,000 - - 9,249 94,921 |
Total funds 2024 £ 5,000 1,500 - 5,000 22,387 1,200 1,000 5,000 - 6,500 1,000 13,000 18,770 - 4,000 - - 15,000 1,000 1,000 - 10,000 5,000 17,300 |
|---|---|---|---|
| 133,657 |
10. Related party transactions
The Trustee K Follett settled the independent examiner's fee for the year. This amounted to £900 (2024: £900).
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Docusign Envelope ID: 4C6401BA-2C65-8FA0-8314-80C35B05B843
THE FOLLETT TRUST
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025
| Income Donations Gift aid Gross income in the reporting period Less: Donations Total expenditure Net (expenditure)/income before taxation for the reporting period Net (expenditure)/income for the reporting period (Deficit)/Surplus for the reporting period Surplus brought forward at 1 July 2024 Surplus carried forward at 30 June 2025 |
2025 £ 51,000 14,323 94,921 |
2025 £ 65,323 65,323 94,921 94,921 (29,598) (29,598) (29,598) 108,712 79,114 |
2024 £ 146,000 36,500 133,657 |
2024 £ |
|---|---|---|---|---|
| 182,500 | ||||
| 182,500 | ||||
| 133,657 | ||||
| 133,657 | ||||
| 48,843 | ||||
| 48,843 | ||||
| 48,843 59,869 |
||||
| 108,712 |
The notes on pages 7 to 11 form part of these financial statements.
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