Charty number. 1024743 OAKWOOD PARK GRAMMAR SCHOOL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
OAKWOOD PARK GRAMMAR SCHOOL TRUST CONTENTS Page ReferEnce and a(kninislralive deta41s of the Charity. its Trustees and advisers Trustees. report Independent examinerfs report ststement ol financial activities Balance sheet Notes to the financial statements 9-17
OAKWOOD PARK GRAMMAR SCHOOL TRUST REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARif¢, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2020 Trustees Mr. K Moody, Head TeatheF Mr. M. Housden. Trustee Mr. G. Twist, Trustee M. J. Murton. Trustee Charity registered number 1024743 Printipal office Oakwothj Pa MaNJstone Kent ME16 8AH Accountants MHA Maclntyre Hudson Chartered Accountants 71 New Dover Road Cantert)ury Kerrt CT1 3DZ Bankers Natwest Bank plc 3 High Street MaKlstone Kerrt ME14 1XU Page 1
OAKWOOD PARK GRAMMAR SCHOOL TrUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2020 The Trustee5 presenl their annual report tC¥3elher viÈth the financial statements of the Oakwo&J Park Gr8mmar Sthool for the 1 Sepiemter 2019 to 31 ust 2020. Objectives and acttviliès . Aims and obieclives The Trustees hold the trust fund and its inwme upon trust to enable them to assist fami.eS and students where 8 lack of income wevenls them trom puasing school unff0 and gaffles kii. or from Ing able to go on school trips or educational visits. The trust a150 asssts the 5i>lh form by purchasing equipment for their annual fund raising. The charitaNe obiecls are to the fvrtherance of the education of and for the benefit of chiklren attending Oakwood Park Grammar School. or for the benefft of any such other exclusive charitable obje(ts and purtKtses in the United Kingdom or worklwKle as the Trustees, in their d¢wetion. see fit. In setting objectives, develorMrvJ slrategies and uThlertaking a&ilIes. the trustees have given Ca4 consM1eration lo the Charity Commi55ion'5 general gUKlan on public benefft. Achievements and perfonnance a. Main achievements of the Charity The 6th Fom Chatities snsoled in 2019r20 were MaK151one MIND who reCeId £2.000 and Cancer Research who received £2,000. The Trust Fund has eAJntinued to supwrt stixlents by PUfchasirKJ bus tic*ets and bus passes to enable pupils to attend school whose parents coukl not afford the travel expenses, purchasing school uniform for disadvantaged students, 8nd geneially 5UPPQtting families who have financial dttfiojities when purchasing tEVi5K>ll resources, PE acaivtties etc. The SenK)r S(K>rts Celebrntory Dinner aTKJ school drama prrmluthon (x)ukl not go ahead in 2020 and had to be postponed until 2021 due to the COVltk19 pandemic. Sthool kil (dothing) continues to be sohj through &mmon5. lThever. stationery. ties and badges continue be Purchased thmugh the school. The Ttusl FurKI donation for year 7s remains at £100 as a oneff P2JTnent to cover 5 years. The year 12 students donation remains at £30 to covw years 12 13. The School LeamiThJ Resources Fufft1 accJ)unt (ntsnues wrth patents making 1)nth U)ntributions of£5. Page 2
OAI(WOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Financial review a. Funds General fund incomi[ resou[$ ineteased by £31.584 this year to £130.360. Expended resou5 decreased by £77,012 to £129,877. 0ra1[ Ihis left a surpfus on the general fund for the year of £483, this compared to deficit of £44,945 for the year to 31 August 2019. Income of £2.665 was reCeId into the staff futml duriNJ the year, and with expendilure of £1,033 thi5 left a surplus of £1.632 forthe year, compared to a surFdus of £2.090 for the year to 31 August 2019. When taken to the Balance Sheet. these M0ments in the ar eThJ had the Mbined effect of in¢asing Ihe charity's nel assels by £2.115 to £139. as at 31 Augusi 2020. b. Going concern The twstee5 have reviewed the chariiy's forecast and projects. and. in particular have consKlered the potential implications of the Coronavirus ICOVID-19) pandemic. IAlhiLst the eventual financial impact of the pandemic on the charrty, and the overall economy remains uncertain, the tru51ees are conftjent that the charity will be able to remain OpetIOnal throughout the paftdem. Slructure. govemance and management a. Constitution The charitls goveming document IS the Trust Deed dated 6 April 1993, as modtfied by 8 Deed of Vallation dated 30 Juty 1993. The Trust beca a registered charity on 11 August 1993 and i8 referred to as the OPGS Trust. b. Methods of appoinlmenl or election of Trustees The number of Trustee5 15 restricted to a minimum of four. with no maxinJJm. and may include the following officials, for the time that they hokj Offi at the School:. one of the Govemots ofthe Sthool. apwinted by the GoTr&emors: the Headmaster of the School: one of the other tTEmbers of teaching staff. who shall be nominated by the Headmaster 8nd appointed by the Governo. the Asststant Head Teacher. In selecting lsonS lo be appointed as tnJ51ees. the Tnjstees take tnto account the beneffts of appoinling a pet50n who, through resNJence, occupalion. emOyMent or otherwe, has special knowledge lo make a contribution to the puT5uiE of Ihe objeixs or managemenl of the Chaiily. The appointment of any new Trustee must be by the resolutK)n of the Trustee5 passed at a 5pe(aal meeting, and all new Trustees are required lo sign a dedaration in the minute book to state their acceptance aThl williryness to arl in the trusts of the charity. Page 3
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Statsment of Trustees. responsibilities The Trustees are responsib for prepating thè Trustees, report 2nd the filnCIal statements in accordance with applicable law and Unit1 Kingdom Aaung Stsndarts (Uni1 lQngdcrfn Generally Accepted AOnting Practice). The law app]i4e to ¢h8rities in England & Wath requires the Trustees to prepare financial statements for each financial which gtve a true and fair wew of the state of affairs of the Charity and of its incoming resources and application of resources, ir5cluding its income and expenditure. for that period. In preparing these financial statements, the Trustees are required to.. seJe¢t suitable accounting polscies and then appty them consistenty.. obsetve the methods and prinGipkn ofthe Charities SORP IFRS 1021", make judgements and accounting esttrrtates that are reasonable and pnjdeit state whether appli2ble UK Accounting Standards IFRS 1021 have bn folkAved. Sublt to any material departures disclctsed and explained in the finanal statgnents" prepare the financial statements on the going rx)ncem basis unless ii is inapproprie to presume that the Charrty wll continue in busÈrLess. The Tfustees are responsible for kwng adequate accounting records that are sufficient to show and explain the Ch8ritls transactions and disdose with SOnable accuracy at any time the fillancial position of the Charty and enable them to ensure th the finanaal StaterTrts comply Iwth the Charities Act 2011. the Ch8rty {Ac¢ounts and Reports} Regulations 2008 and the provisic>ns of the Trust deed. They are also responsible for safeguarding the assets of the Charity and tter fortaking reasonable steps fortt)e prevention and detection of fraud and other irregularitses. Approved by order of the member3 of the board of Trustees and sKJrbed on thetr behatf by. Mr. K. Moody {Head Teacher} Date.. >¥. S. Al Page 4
OAKWOOD PARK GRAMMAR SCHOOL TRUST INDEPENDENT EXAMINERS REPORT FOR THE YEAR ENDED 31 AUGUST 2020 Independent examinerfs port to the Trustses Oakwood Park Grdmfflar School Tftt (Ihe Charity'l I report to the charity Truslees on my examination of Ihe accA)unls of the Chartty for the year end 31 August 2020. Responsibilitios and basis of Yeport As the Trustees of the Chanty you are restK)nsiNe for the wepar81ion of the accounts in ac£0rdan with the requirements ofthe Charrties Ad 2011 Ohe 2011 Aci?. I report in respect of my examinaiion of the Charrtls accounts carried out under sedK)n 145 of the 2011 Act and in carrying out my examination I ha followed the applicable Ditections given by the Chanty Commission under section 14515)(b) of the 2011 Act. Independent examiners slalement Your attention is drawn to the facl Ihat the Charity has prepared the a(ts in accowdance with Accounting 2nd Reporting by Charilies" Statement of ReCoMnded Prathc£ applicAble to chaiities ppang their accounts in accordan wilh the Finanaal Reporting standa apICAb in the UK and Republic of Ireland (FRS 102> irE preference to the A(untir and RewYkn"ng by Charities.. Statement of Recommended Praclice issued on l April 2005 which is refeffed to in the exianl ]tiOnS but has been withdrdwn. l understand that this has been done in order for the accounts to provvje a tnje and fair view in accordance wilh the Generally Accepted Accounbng Practi(* effedive tor rewrting peri(MJs Winning on or after 1 January 2015. I have completed my exarnination. l LX)nffirm that no matters have (x)me to my attention in connection with the exatnination giving me cause to belieNe that in any material respert: accounting records were not kept in re$F of the Charily as ]Uired by sectN)n 130 of the 2011 Act., 01 the accounts do not aurd wilh those records.. or the a(xounls do not (x)mply wth the applubk UIrEMents conceming the fomi and content of accourrts set out in the Chafiiies (Accounts and Rewrts) Regu18tions 2008 other than any quIrement that the aOUnts a knie arNJ fai¢ whth is not a Fnatter consered as part of an independent examinalion. I have no cOnmS and have come across no other matters in conneelion wilh the examin2tion lo which attention shoukj drawn in this Teport in 0ft1er to en8ble a proper undetstanding of the accounts to be reached. Page 5
OAKWOOD PARK GRAMMAR SCHO(L TRUST INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 This report ts made solety to the Chanlvs Trustees. as a Ixmly, in aeLordance with Part 4 of the Charities (AUntS and Rewrts) Regulations 2008. My WO has been tsndertaken so that I rnKJht state to the Charity's Tfustees those matters l am required to state to them in an Independent examinerfs reFK•rt and for no other purpose. To the lIest extent pemrtied by law. I do not acceFI or assume responsibility to anyone other than the Chafity and the Chaws Truslees as a tKxJy. for my work or for this retK)rt. Signed: Dated.. 25 May 2021 Duncan Cothrane-Dyet FCA MHA Maclntyre Hudson Chartered Accountants arKJ Register1 Audilors 71 New Dover Road Canterbury Kent CT13DZ Page 6
OAKWOOD PARK GRAMMAR SCHOOL TrUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 AUGUST 2020 Total funds 2020 Total fvnds 2079 funds 2020 Income from: Donations an(J lega(aes Charttable a1VitieS Othertrading activities Invesiments 61,757 70.032 61,757 70.032 800 60,662 102,674 1,300 510 436 Total income Expenditure on: Raising funds Charttable activities 133,025 133,025 165.746 1.60 129.302 1,608 129.302 4, 109 203,892 Total expenditure 130.910 130,910 208,001 Net movement in funds Reconciliation of funds: 2,115 2.115 (42,855) Total funds brought fOard Net movement in funds 137.881 2,115 137.881 2.115 180,736 (42.855) Total funds carried forward 139,996 139.996 137,881 The Slatement of financial ackniits indJeS all gains and losses re(x)gnised in the year. The notes on pages 9 to 17 fom) part ofthese financjal Statents. Page 7
OAKWOOD PARK GRAMMAR SCHOOL TRUST BALANCE SHE AS AT 31 AUGUST 2020 2020 20f9 CuTrent ass stocks Debt015 Cash at bank and in hand 11 12 215 3.778 161.530 161.298 164.721 16&523 Creditors: amounts falling due ythin one 13 (24,725) (27.642) Net current assets 139.996 737.881 Total net a55ets 139.996 137.881 Charity funds Restrtcled funds Unrestricled fvnds 14 14 139.996 137.881 Total funds 139.996 137,881 The financia stalements were apprDved and authori1 for issue by the Trustee5 and signed on their behatf by: cu/• Mr. K Moody {HÈad Teacher) Date.. 3¥. 5. al The rsotas on pagas 9 to 17 fom part ofthese financial statern. Page 8
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policies 1.1 Basis of preparation of financial statements The Iinancial ststements have teen prepared in accordance wilh the Chaiitie5 SORP IFRS 1021- Arunting and Repon9 by Charities" Slaternent of Recommended Practice applicable to charrties preparing their a(munts in accordance wilh the Finanual Reporting Standarf applicable in the UK and Republic of Irelat¥J (FRS 102) (effedive 1 January 2015). the Financial Reporting Standatd 8ppJicable in the UK arKJ Republic of Ireland (FRS 102) and the Ch8rities A(A 2011. The financial statements have been prepa to give a Irue and fai¢ view and have departed from the Charities {A)unts and Rewrts) Regulab"ons 2008 only to the eylent required to promde a Irue and fai¢ Me4¥. This departure has inv01bl followiffj the Cttarilies SORP {FRS 102) published on 16 Juty 2014 rather than the Accounting and ReFM)rting by Chanties: Statement of Recommended Prac11 effective from 1 AKNil 2005 whith has sin( been wtlfmlrawn. Oakwood Park Grammar Scool Tnt meets the deffinilion of a putAic benefft entity under FRS 102. Assets and liabilities are initially recognised at hi4orTcal cost or nsalan value unless otherwise stated in the relevant accounting 1. 1.2 Going concern The financial statements have teen wepared C a going concem ba515 a5 the trustees believe that with g0Mnt support packages availabfe and projecled income and expenses. the charity will conlinue in operatK)nal exisience with suffient resources to be able to o)ntinue as a going concem. 1.3 Income All income is tEcognised once the Ch8thy has entitlement to the income, it is probable that the income will feceive(l and the amount of inrne reiable can be measured reliably. 1.4 Expendilure Expenditttre is recogni51 On Ihere a regal or constnJcLive obligation to transfer economic benefrt to a third party. it is probable that a transfer of economic benefits will be required in settletnent arKI the amount of the oblpJation can l measured lIablY. EndItre is classified by activity. The costs of eath adivty are m&le up of the total of direct costs and shared ¢osls, including support costs invol4Ed in undertaking each adiwty. Dirett costs attributable to a single activity are allocated diredly to that activity. Shared costs which contn.bute to more than one activtiy and support costs which are not attributable lo a single actiirily are apportioned beeen those aclivities on a basis (nSistent with the use of resour(xs. Central staff G051s are alloGated oll IfEe basis oftime spent. arKJ detKeuatJ'on tharJres alh)cated on the wrtion ofthe asset's use. Expendrture on raisiro funds indude5 all en1Jure incurred by the Charity to raise fvnds for tts charitable purFoses and includes costs of all fundraising aCtiVleS events and non-charitable trading. Expenditure on chatitalje a(*iwbes i% incurred on direcuy undertaking the a(4rvilies whith fvrtherthe Charivs objectives, well as any aSsoted support C. 1.S Stocks Stocks are walued at the lower of o)st and net realisabEe value afler making due allowance for obsolete and slow-moving stocks. Cost includes all dire(a (x)&5 and an apw)priate proportion of fixed and wariable overheads. Page 9
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANGIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policies (continued 1.6 Debtors Trade and other debtors are recognised al the settlenEnt amounl after any trade dk%cA)unt offered. Prepayments are valued at the amunt prepatd net of any trade di$Unts due. 1.7 Cash at bank and in hand Cash at bank arKI in ha1 iNdleS cash arnl short-le h¥Jhly IK4UKI investments with a short malurity of three rnthS or less from Ihe date of aulSttn or OFening of the deposit or similar account. 1.8 Liabllities and provisions Liabilrties arE recognised when there 15 oblvJation at the Balance sheet date as a resuti of a past event. rt is probab that a transfer of eeA)nomic benefil wll requir&J in settlement, and the arnount of the settlement can be estimated relkgbty. 1.9 Fund accounling All funds held are unrestricted fvnd5. arKI can tre used in accordance with the charitable objects. at the disuetion of the Tnjstees. Wrthin the general fvnd the Trust operates a staff account. which i% used to account for leS recei)Ed from s(toDJ staff towards the cost of drinks. Income from donations and legacies Unrestrtcted funds 2020 Total funds 2020 Total funds 2019 Donations School grants 49,775 11.982 49.775 11.982 59,412 1.250 Total 2020 61,757 61,757 60,662 Total 2019 60,662 f,662 Page10
OAKWOOD PARK GRAMMAR SCHOOL TRW6T NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2020 Income from generating activit*s Income from fundrnising events Unrestricted funds 2020 Total funds 2020 Total runds 2019 Lettings 800 1,300 Total 2019 1.300 1,300 Income from chafiiable activities UnrEstrFcted funds 2020 Total funds 2020 Total funds 2019 Studerrt Exchange Scthool lfjt and EqUSerrt Sthool Produ(Aions Clubs and Societies 1.678 8.493 13 8,484 4,000 3,042 2.511 3.281 3.191 32,674 2.665 1.678 8A93 13 3.711 13,772 3,927 17,246 2,591 10,368 637 8,391 4,679 34,210 3,202 Physical Education Rewsion GuKles UCAS Applicattons 6th Fom Leave 4.000 3.042 211 3281 3,191 32.674 2.665 Lockers Other staff fijnd Total 2020 70.032 70,032 102,674 Total 2019 102,674 102,674 Page11
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Investment income Unrestricled funds 2020 Total funds 2020 Total funds 2019 8ank interest 436 510 Tota12019 510 510 Expenditure on raising funds Costs of rnising volunlary income Unrestricted funds 2020 Totsl funds 2020 Total nds 2019 Donations and fundraisi 1.608 1,608 4,709 Total 2019 4.709 4,109 Analysis of expendrture on charilatAe activibes Surnmary by fund type Unrestricted funds 2020 Total funds 2020 Tolal funds 2019 Charilies artiwles 129.302 129.302 203,892 rotal 2019 203,892 203.892 Page 12
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analysis of expenditure by aetFVities Activities undertaken directly 2020 Support Total funds 2020 Total fvnds 2019 2020 Charitable acaivibes 128,066 1,236 129,302 203,892 Total 2019 201,713 2,179 203,892 Analysis of direct costs Total funds 2020 Total fvnds 2019 Activities 2020 School Ffjl and Equiwteni School Produclions 22.646 22.646 690 16,519 636 942 5,867 793 16,394 137 521 Club5 and Societies Revision GuKles Ex-Gralia PayTnents 6th Forn Leave 16,519 636 942 4,624 73.246 7.730 1.033 4.624 73.246 7.730 1.033 918 Reimbursement to School 153,620 22,351 1,112 other staff Expendrtu Total 2020 128,066 128.066 20t, 7t3 Total 2019 201,713 201,713 Page 13
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Analysis of expenditure by activities (conltnwl) Analysis of support c¢)sts Total funds 2020 Tot81 funds 2019 Activities 2020 Bank Charges and Intere51 Independent Examination Fee 1.236 1,236 1,195 Totsl 2020 1,236 1.236 2,179 Total 2019 2.179 2,179 Independent examinerfs remuneration 2020 2019 Fees payable to the Charit5ls irKlep8ndent examiner ft)r the independent examination ofthe Charits annual accounts 1.236 1, 195 10. Trustees. remunerntion and expenses During the year, no Tnjstees received any neratiOn or other beneffts (2019- £NIL). During the year ended 31 AU$l 2020. no Tnjstee expenses ha been incurred (2019 - £NIL). 11. Stocks 2020 2019 School kil 190 215 P8ge 14
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 12. Debtors 2020 2019 Due within one year AccnJed income 3.233 3. 778 3.233 3, 778 13. Creditors: Amounts falling due within one year 2020 2019 Other credilor5 Accfuals aThY deferred incoff 1.200 23.525 27,642 24,72S 27,642 Page 15
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 14. Slaternent of funds Statement of funds - current year Balance ai 1 September 2019 Balance at 31 August 2020 Income Expendrture Unrestrlcted funds General Fund staff Ac(x)unt 126A59 11.422 130.360 2.665 (129.877) {1.0331 126,942 13.054 137,881 133.025 1130.910) 139.996 statement of fun(ts - prior year Balan at I SeKember 2018 Balance at 31 August 2019 lrnxsme Expenditu Unrestricted funds General Fund Staff Account 171.404 9.332 161.944 3,202 (206,889) (1,112J 126,459 11,422 180.736 165.146 (208,0011 137,881 1S. Analysis of assets betTen funts Analysis of net assets beten funds - current period UnYestrict@d funds 2020 Total funds 2020 Current assets Creditots due within one Jear 164,721 (24.725) 164,721 {24.7251 Total 139,9 139,996 Page 16
0AlOoD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 15. Analysis of assets betten funts (contindI Analysis of net assets betEen funds - prior period UnrestriGted funds 2019 Tolal funds 2019 C{Jrt 855ets Cdrt0fS due within one ar 165.523 (27,642> 165.523 (27,642) Total 137,881 137,881 Page 17