Eversley Primary School Association
Annual Report and Financial Statements for the Year Ended 31st August 2021
| Contents | Page |
|---|---|
| Charity Information | 3 |
| Report of the Trustees | 4 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 |
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Eversley Primary School Association
Charity Information
Governing Document Trustees (2020/2021) P Hodge (to 21/7/21) F Ibrahim J Ioannou D Yiannakas I Shefer M Foster S Kamiya G Kaur S Miltiadous S Hassan (from 21/7/21)
Secretary J Ioannou
Office
Eversley Primary School Chaseville Park Road London N21 1PD
Registered Charity Number
1015742
Independent Examiner
K Spitaliotis
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Eversley Primary School Association
Report of The Trustees
The Trustees present their Annual Report together with the Financial Statements for the year to ended 31st August 2021.
The aims and objectives of the Association are to advance the education of the pupils of the School by providing and assisting in the provision of facilities for education at the School (not normally provided by the Local Education Authority) and as an ancillary thereto and in furtherance of this object the Association may;
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a) Foster more extended relationships with staff, parents and others associated with the school and;
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b) Engage in activities which support the School and advance the education of the pupils attending it;
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c) Provide and assist in the provision of the facilities for the education of the school (not normally provided by the Local Education Authority).
In September 2020, following several months of inactivity due to COVID-19, the Constitution was amended to allow for direct donations received by the Association to be donated to the school without requiring a formal bid submission and to be used for any purpose to assist with its funding crisis.
In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education.
Trustees
The Trustees who served during the year were as follows:-
P Hodge F Ibrahim J Ioannou D Yiannakas
I Shefer M Foster S Kamiya G Kaur S Miltiadous S Hassan
The EPSA is established by Trust Deed dated 15th October 1992 which provides that the management and control of the Association shall be vested in a Committee of Trustees which shall consist of a minimum of 9 or a maximum of 17 members who are elected annually at the AGM. This number could include up to 12 members of staff.
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Eversley Primary School Association
Report of The Trustees contd.
Review of Activities
The Coronavirus pandemic continued to affect EPSA's ability to conduct on-site fundraising activities although thanks to the ingenuity of the committee, fewer but more profitable events contributed to a successful year.
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Fundraising decreased 34% to £12,198 but associated costs decreased by 42% to £4,670.
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Donations were up by 667% to £15,828 of which £7,165 was Barclays match funding, but the majority was via GoFundMe for the school's ICT bid. Overall, gross income increased by 37% to £28.028.
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Donations to the school decreased by 48% to £17,826 as fewer bids were received during the year.
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The net inflow of funds in the year was £5,392 and the cash balance at the end of the year was £14,737.
Reserve and Distribution Policy
The Association receives requests from the school detailing projects which require funding. The Trustees of the Association then decide which of these it is appropriate to fund.
Reserves represent undistributed funds which will be distributed to the school once appropriate projects have been identified.
Statement of Trustees' Responsibilities
Trust laws require the Trustees to prepare Financial Statements for each financial year which give a true and fair view of the state of affairs of the Association and of the surplus or deficit of the Association for that year. In preparing those Financial Statements the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statements;
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prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Association will continue to exist.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Association and to enable them to ensure that the Financial Statements comply with the Charities Act 1993. They are also responsible for safeguarding the assets of the Association and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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EVERSLEY PRIMARY SCHOOL ASSOCIATION
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EVERSLEY PRIMARY SCHOOL ASSOCIATION
I report on the Financial Statements of the trust for the year ended 31st August 2021 which are set out on pages 7 to 10.
Respective Responsibilities of Trustees and Examine r
The charity's trustees are responsible for the preparation of Financial Statements. The charity's trustees consider that an audit is not required under section 144 of the Charities Act 2011 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, and to state whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the 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.
Independent Examiner's Statement
In connection with my examination, no matters have come to my attention which give me cause to believe that in any material respect:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning 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 come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable proper understanding of the accounts to be reached.
Signed Date
Name K Spitaliotis
Address 47 Overton Road, London N14 4SX
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Statement of Financial Activities
For the year ended
31st August 2021
| Notes Incoming Resources Donations (incl. ParentPay direct) Activities for Generating Funds:- Fundraising events Bank Interest Total Incoming Resources 1 b Resources Expended Cost of Generating Funds Fundraising Charitable Expenditure Donations Payable 5 Management and Administration Total Charitable Expenditure Total Resources Expended Net Movement in Funds 1 c Funds Brought Forward at 1st September 2020 (2019) Funds Carried Forward at 31 August 2021 (2020) |
2021 2020 Total Total £ £ 15,828 2,064 12,198 18,454 2 13 28,028 20,531 4,670 8,007 17,826 34,461 140 522 17,966 34,984 22,636 42,990 5,392 22,459 - 9,345 31,804 14,737 9,345 Unrestricted Funds |
|---|---|
All Transactions are derived from continuing activities All Recognised gains and losses are included in the Statement of Financial Activities
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Eversley Primary School Association
Balance Sheet at 31st August 2021
| Note Fixed Assets 1 d Current Assets Cash at Bank and Inhand Debtors and Prepayments 7 Less: Creditors 8 Total Net Current Assets Total Assets less Liabilities Funds Unrestricted Funds 1 e |
2021 2020 £ £ - - 14,737 9,345 - - - - 14,737 9,345 14,737 9,345 14,737 9,345 |
|---|---|
DECLARATION OF TRUSTEES
| The above | Financial Statements were approved by the Trustees on | Financial Statements were approved by the Trustees on | . |
|---|---|---|---|
| Signed | Signed | ||
| Full Name | Demi Yiannakas | Full Name | Joanna Ioannou |
| Position | Co-Chairperson | Position | Co-Chairperson |
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Eversley Primary School Association
Notes to the Financial Statements
1 Accounting Policies
a) Accounting Convention
The Financial Statements are prepared on the historical cost basis and in accordance with applicable accounting standard and with the Statement of Recommended practice, Accounting and Reporting by Charities, issued in October 2000, taking advantage of the exemptions for small charities where applicable.
b) Incoming Resources
Incoming Resources represent amounts received by the charity during the year from all sources, being donations via matchfunding of volunteers' time (£7,165), direct fundraising (£8,663), events (£12,198) and interest (£2). Matchfunding was received from Barclays Bank plc.
c) Resources Expended
Resources Expended are accounted for on an accruals basis, inclusive of any VAT which cannot be recovered.
d) Fixed Assets
These are capitalised if they can be used for more than one year and cost at least £500 Depreciation is over the estimated useful life of the assets.
e) Unrestricted Funds
Unrestricted Funds are those 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.
2 Staff Costs
No staff are employed by the Association
3 Trustees Remuneration and Reimbursed Expenses
None of the trustees received remuneration during the year. Three of the trustees received reimbursed expenses during the year.
4 Fees for the Examination of the Accounts
No fees were paid for the examination or audit of the accounts
5 Donations Payable
Donations of £17,826 were paid to Eversley Primary School during the year.
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Eversley Primary School Association
Notes to the Financial Statements
6 Taxation
The charity is entitled to exemptions from the United Kingdom taxation under the Income and Corporation Taxes Act 1988.
| 7 Debtors and Prepayments All Debtors and prepayments are due within one year. Other Debtors Total 8 Creditors All creditors are due within one year. Other Creditors 9 Transactions with Related Parties |
2021 2020 - - |
|---|---|
| - - 2021 2020 - - |
There are no transactions to report
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