| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2026 |
| for |
| The Bishop's Meadow Trust |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| Report of the Trustees and |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2026 |
| for |
| The Bishop's Meadow Trust |
| The Bishop's Meadow Trust |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2026 |
| Page |
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 | to | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 | to | 11 |
| The Bishop's Meadow Trust |
| Reference and Administrative Details |
| for the Year Ended 31 March 2026 |
| TRUSTEES |
| REGISTERED OFFICE |
| REGISTERED COMPANY NUMBER |
| REGISTERED CHARITY NUMBER |
| The Bishop's Meadow Trust (Registered number: 07087967) |
| Report of the Trustees |
| for the Year Ended 31 March 2026 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2026. The trustees have adopted the provisions of 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). |
| Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The Bishop's Meadow consists of approximately 35 acres of low-lying agricultural land to the west of Farnham's town centre in Surrey. It is an ancient part of Farnham's farming heritage and an important part of its floodplain defences. Having acquired the land from funds raised by donations, the Charity's objective is to manage and maintain the land known as Bishop's Meadow for the benefit of the inhabitants of Farnham and the surrounding area. |
| BMT maintains the land; |
| (a) to provide a recreational space by maintaining an easily accessible peaceful green area, to be enjoyed by the general public and; |
| (b) to promote the conservation, protection and improvement of the natural environment. This includes; |
| - promoting biological diversity, |
| - maintaining an orchard, |
| - assisting livestock graziers, |
| - working with the Environmental Agency, the National Trust and other similar organisations on biodiversity and river management. |
| In establishing these objectives, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running charity (PB2)'. |
| The Bishop's Meadow Trust (Registered number: 07087967) |
| Report of the Trustees |
| for the Year Ended 31 March 2026 |
| OBJECTIVES AND ACTIVITIES |
| Significant activities |
| a. Main achievements of the Company |
| On behalf of its membership, and the people of Farnham, the Charity carried out the following during the year: |
| Managed and enhanced the Bishop’s Meadow and its environment to increase bio-diversity; |
| Helped to make the Meadow a safe and enjoyable place; |
| Communicated with our membership about progress and plans; |
| Ensured the financial health of the Trust; |
| Planned for the future with a keen eye on sustainability; and |
| Complied with our commitment to good governance and meeting statutory requirements. |
| Financial review |
| a. Going concern |
| After making appropriate enquiries, the Trustees have a reasonable expectation that the Company 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. |
| b. Reserves policy |
| The Charity's policy is to set aside funds for special purposes or as reserves against further expenditure. |
| c. Principal risks and uncertainties |
| The principal risk to the charity is the loss of donations. |
| d. Financial review |
| The results for the year are set out on page 5. The trustees believe that the accounts comply with current statutory requirements, the requirements of the charity's governing document and requirement of the SORP. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Charity constitution |
| The Bishops Meadow Trust is registered as a charitable company limited by guarantee and was set up by a |
| Articles of Association. |
| Recruitment and appointment of new trustees |
| The management of the Company is the responsibility of the Trustees who are elected and co-opted under the |
| terms of Articles of Association. |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| The Bishop's Meadow Trust |
| Statement of Financial Activities |
| for the Year Ended 31 March 2026 |
| 31.3.26 | 31.3.25 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income | 2 |
| Total |
| EXPENDITURE ON |
| Charitable activities | 3 |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| Other recognised gains/(losses) |
| Gains on revaluation of fixed assets |
| Net movement in funds | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 289,934 |
| The Bishop's Meadow Trust (Registered number: 07087967) |
| Balance Sheet |
| 31 March 2026 |
| 31.3.26 | 31.3.25 |
| Unrestricted | Restricted | Total | Total |
| fund | funds | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 8 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 10 |
| Unrestricted funds | 271,767 |
| Restricted funds | 18,167 |
| TOTAL FUNDS | 289,934 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| The Bishop's Meadow Trust |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2026 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. |
| The Bishops Meadow 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. |
| Income |
| All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
| Grants are included in the Statement of financial activities on a receivable basis. The balance of |
| income received for specific purposes but not expended during the period is shown in the relevant |
| funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its |
| recognition is deferred and included in creditors as deferred income. Where entitlement occurs |
| before income is received, the income is accrued. |
| Income tax recoverable in relation to investment income is recognised at the time the investment |
| income is receivable. |
| Expenditure |
| 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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| 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 |
| Company's objectives, as well as any associated support costs. |
| All expenditure is inclusive of irrecoverable VAT. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery | - |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| The Bishop's Meadow Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 1. | ACCOUNTING POLICIES - continued |
| Fund accounting |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
| 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 Company and which have not been designated further |
| purposes. |
| Restricted funds are funds which are to be used in accordance with specific restrictions imposed by |
| donors or which have been raised by the Company for particular purposes. The costs of raising and |
| administering such funds are charged against the specific fund. The aim and use of each restricted |
| fund is set out in the notes to the financial statements. |
| Investment income, gains and losses are allocated to the appropriate fund. |
| 2. | INVESTMENT INCOME |
| 31.3.26 | 31.3.25 |
| £ | £ |
| Deposit account interest |
| 3. | CHARITABLE ACTIVITIES COSTS |
| Direct | Support |
| Costs | costs | Totals |
| £ | £ | £ |
| Manage and maintain the land known as Bishop's Meadow |
3,210 |
5,803 |
9,013 |
| 4. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 31.3.26 | 31.3.25 |
| £ | £ |
| Depreciation - owned assets |
| 5. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025. |
| The Bishop's Meadow Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 6. | STAFF COSTS |
| The average monthly number of employees during the year was as follows: |
| 31.3.26 | 31.3.25 |
| Employees & Trustees |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted | Restricted | Total |
| fund | funds | funds |
| £ | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Donations and legacies |
| Charitable activities |
| Investment income |
| Total |
| EXPENDITURE ON |
| Charitable activities |
| NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
| Other recognised gains/(losses) |
| Gains on revaluation of fixed assets |
| Net movement in funds |
| RECONCILIATION OF FUNDS |
| Total funds brought forward | 225,370 | 15,000 |
| TOTAL FUNDS CARRIED FORWARD | 271,767 | 18,167 | 289,934 |
| The Bishop's Meadow Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 8. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2025 |
| Additions |
| Revaluations |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| Cost or valuation at 31 March 2026 is represented by: |
| Freehold | Plant and |
| property | machinery | Totals |
| £ | £ | £ |
| Valuation in 2025 | 50,000 | - | 50,000 |
| Valuation in 2026 | 50,000 | - | 50,000 |
| Cost | 260,000 | 2,499 | 262,499 |
| 360,000 | 2,499 | 362,499 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.26 | 31.3.25 |
| £ | £ |
| Accruals and deferred income |
| 10. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.4.25 | in funds | 31.3.26 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 271,767 | 120,855 | 392,622 |
| Restricted funds |
| Land | 15,000 | - | 15,000 |
| Wildllife Survey | 3,167 | (3,167 | ) | - |
| (3,167 | ) |
| TOTAL FUNDS | 117,688 | 407,622 |
| The Bishop's Meadow Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 10. | MOVEMENT IN FUNDS - continued |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 76,701 | (5,846 | ) | 50,000 | 120,855 |
| Restricted funds |
| Wildllife Survey | - | (3,167 | ) | - | (3,167 | ) |
| TOTAL FUNDS | ( |
) | 117,688 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.24 | in funds | 31.3.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 225,370 | 46,397 | 271,767 |
| Restricted funds |
| Land | 15,000 | - | 15,000 |
| Wildllife Survey | - | 3,167 | 3,167 |
| 15,000 | 3,167 | 18,167 |
| TOTAL FUNDS | 240,370 | 49,564 | 289,934 |
| Comparative net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 13,242 | (16,845 | ) | 50,000 | 46,397 |
| Restricted funds |
| Wildllife Survey | 3,167 | - | - | 3,167 |
| TOTAL FUNDS | 16,409 | (16,845 | ) | 50,000 | 49,564 |
| The Bishop's Meadow Trust |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 10. | MOVEMENT IN FUNDS - continued |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.4.24 | in funds | 31.3.26 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 225,370 | 167,252 | 392,622 |
| Restricted funds |
| Land | 15,000 | - | 15,000 |
| TOTAL FUNDS | 240,370 | 167,252 | 407,622 |
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | 89,943 | (22,691 | ) | 100,000 | 167,252 |
| Restricted funds |
| Wildllife Survey | 3,167 | (3,167 | ) | - | - |
| TOTAL FUNDS | 93,110 | (25,858 | ) | 100,000 | 167,252 |
| Unrestricted Funds |
| The unrestricted funds are used to support the Bishop's Meadow Trust in meeting its aims and objectives to manage and maintain the land known as Bishop's Meadow for the benefit of the inhabitants of Farnham, Surrey, and the surrounding area. |
| Restricted Funds |
| A restricted fund of £15,000 (2025: £15,000) has been designated for the potential acquisition of land. |
| A restricted fund that is now spent (2025: £3,167) was designated last year for a wildlife survey that was completed during the year. |
| 11. | RELATED PARTY DISCLOSURES |
| The Trust received donations totalling £60,000 from its trustees to support the purchase of additional land. |