Charlty number: 1024743 OAKWOOD PARK GRAMMAR SCHOOL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
OAKWOOD PARK GRAMMAR SCHOOL TRUST CONTENTS Page Reference and administrative details of the Charlty. Its Trustees and advlsers Trustg•s' report Independent examinerfs report Statement of financial activities Balancè sheet Notes to the flnanctal statements 9-17
OAKWOOD PARK GRAMMAR SCHOOL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021 Trustees Mr. K. Moody, Head Teacher Mr. M. Housden, Trustee Mr. G. Twist, Trustee Mr5. J. Murton, Trustee Charlty registered number 1024743 Princlpal offlce Oakwood Park Maidstone Kent ME16 8AH Independent examiner MHA Maclnlyre Hudson Chartered Accounlanls Victoria Court 17-21 Ashford Road Maidslone Kent ME14 5DA Bankers Natwest Bank plc 3 High Street Maidstone Kent ME14 1XU Page 1
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees present their annual rèport together with the financial stslements of the Charity for the 1 September 2020 10 31 August 2021. Oblectlves and activities a. Alms and obje¢tlves The Trustees hold the trust fund and its income upon trust to enable them lo assist families and students where lack of income prevents them from purchasing school uniform and games kil, OT from being able lo go on school trips or educational visits. The Irusl also assists the sixth fomi by purchasing equipment for their annual fund raising. The charitablè objects are to the furtherance of the education of and for the benefit of children attending Oakwood Park Grammar School. of for the bènefit of any such other exclusively charitable objects and purposes in ihe United Kingdom or worldwide as the Trustees, in their discretion, see fit. In setting objectives, developing strategies and undertaking aclivilies, the trustees have given careful consideration lo the Charty Commission's general guidance on public beneflt under soction 4 of the Charities Act 2006. Achievements and performance a. Main achievemènts of the Charity The 6th Forrn Ch8rities sp)nsored in 2020121 were Maidstone MIND and Maidslone Day Centre who received £500.00 each. The Trust Fund has Continuèd lo support students by purchasing bus lickels and bus passes to enable pupils lo attend school whose parents could not afford the travel exp&nses, PLJrchasing school uniform for disadvantaged students, and generally supporting families who have financlal difficulties when paying for lock8r rental, rgvision resources, PE activities elc. The S8nior Sports Celebratory Oinner and school drama production could nol lake place during 2021 due to the conlinulng Covid 19 pandemic, however. the Trust has supported the Sports Dinner by donating £500.00 towards the Ctssl of the speaker who would have attended in 2021 bul has been deferred to the dinner which will b8 held in 2022. School kil Iclothingl continues lo be sdd through Simmons., however, stationery, lies and badges can be purchased through the school. The Trust supported the Design and Technology departmgnt by £30LK).00 8s part payment for a new laser cutter. The Trust Fund donation for year 7s remains al £100.00 as a OnOff payment lo cover S years. The year 12 student's donation remalns al £30.00 to cover years 12 and 13. The School Learning Resources Fund account continues with parents making monthly contributions of £5.00. Page 2
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 inancial review a. Funds Ger)eral fund Incoming resources decreased by £25,828 this year lo £104.532. Expended resources decreased by £77.582 to £52,295. Overall this left a surplus on the general fund for the year of £52.237, this compared to a surplus of £483 for the year to 31 Augu812020. Income of £2.053 was received into the staff fund during the year. and with expenditure of £1,105 this left a surplus of £948 for the year, compared lo a Surplus of £1,632 for the year lo 31 August 2020. When taken lo the Balance Sheet. these movements in the year end had the combined effect of increasing the charity's nel assets by £53,185 10 £193,181 as at 31 August 2021. b. Going concèrn The trustees have reviewed the charity's forecast and projects, and, the Iruslees are confident that the charity will be able to remain operatlonal throughout the pandemi Structure. governan¢e and management a. Constitution The charills goveming document is the Trust Deed dated 6 April 1993, as modified by a Deed of Variation dated 30 July 1993. The Trust became a registered charity on 11 August 1993 and is referred to as the OPGS TrusL b. Methods of appolntment or eleetlon of Trustees The number of Trustees is restricted to a minimum of four, with no rnaximum, and may include the following officials, for the time that they hold office al the S¢hool'.- one of the Govemors of the School, appointed by the Governors- the Headmaster of the School.. one of the other members of teaching staff, who shall be nomSn8ted by the Headmaster and appointed by Page 3
OAKWOOD PARK GIiAMMAR SCHOOL TRUST TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2021 Statèment of Trustees. respon$ibilities The Trustees are responsible for preparing the TrustèÈS' POrt and the financial statements in accordanc& wllh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in England & Wales requirgs the Trustees lo prepare financial Statements for each financial which give a true and fair view of the 51ale of affairs of the Charity and of its incoming resources and application of resources. including its income and expenditu, for that period. In preparing these financial statements, the Trustees are required lo.. select suitoble accounting policies and then apply them consislenlly., observe the methods and principles of the Charities SORP IFRS 1021., make judgernenls and accounting estimates that are reasonable and prudent- stste whether applicable UK A¢coLtnting Standards IFRS 1021 have bèen followed, subject to any material departures disclosed and explained in the financial slalements.. prepare the financial statements on the going wncem basis unless it is inappropriate to presume that the Charity will Continue in business. The Trustees are rtssponslble for keeping adequate accounting records that are sufficient to show and explain the Charity's Iransaclions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them to ansure that ihe financial statements comply wlh the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They a also responsible for safeguarding the assets of the Charity and hence for taking asonable steps for the prevenllon and detection of fraud ané other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Mr. K. Moody (Head Teacher) .&22 Date.. Page 4
OAKWOOD PARK GRAMMAR SCHOOL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021 Independent examinerf$ report to the Trustees of Oakwood Park Grammar School Trust (Ihe Charity'} I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2021. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparalit)n of the accounts In accordance with th8 requirements of the Charities Act 2011 Ilhe 2011 Acl'l. I report in respect of my examination of Ihg Charitls accounts carried out under sectlon 145 of the 2011 Act and in carrwng out my examination I have followed the applicable Directions given by the Charity Commission under section 145{5llb) of the 2011 Act. Independent examln•rf$ statemenl I have completed my examination. I confirm that no matters have come lo my 8ttenlion in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respe¢t of the Charity as required by section 130 of the 2011 Actr, or the accounts do not accord wlth those records.. or the accounts do not Comply wth the applicable requirements concerning the form and content of accounts sel out in the Charities {Accounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a maller considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to whith attention should be drawn in this rgport in order to enalJ8 a proper underslandlng of the accounts lo be reached. Page 5
OAKWOOD PARK GRAMMAR SCHOOL TRUST INDEPENDENT EXAMINER'S REPORT ICONTINUED} FOR THE YEAR ENDED 31 AUGUST 2021 This report is made solely to the Charity'5 Trustees, as a body, in accordance with Part 4 of the Charities IAc¢ounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the Charills Trustees those matters l am required lo slate lo them in an Independent examiner's report and for no other purpose. To the fullest extent permilled by law. I do not accept or assume responsibility lo anyone other than Ihe Charity and the Charity's Trustees as a body, for my work or for thi5 report. Signed= Dated.. 21 June 2022 Duncan Cochrane-Dyel Bsc BFP FCA MHA Maclnlyre Hudson Maidstone United Kingdom Page 6
OAKWOOD PARK GRAMMAR SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021 Unrestrict8d funds 2021 Total fund$ 2021 Total funds 2020 Note In¢ome from: Donations 8nd legacies Charitable activities Other trading activltles Investments 47,547 57.121 1,900 17 47,547 57,121 1.900 17 61,757 70.032 800 436 Total income 106.585 106,585 133,025 Expenditure on: Raising funds Charitable a¢livilies 100 100 53.300 1.608 729.302 53,300 Total expenditure 53,400 53.400 130.910 Net movement In funds 53,185 53,185 2.115 Reconciliatlon ¢f fund5: Total funds brought fonNard Net movement in funds 139,996 53,185 139.996 53.185 137,881 2,115 Total funds ¢arried forward 193.181 193,181 139,996 The Slalement of financial activities includes all galns and losses recognised in the year. The notes on pages 9 to 17 form part of these financial statements. Page 7
OAKWOOD PARK GRAMMAR SCHOOL TRUST BALANCE SHEET AS AT 31 AUGUST 2021 2021 2020 Note Current assets Stocks Debtors 11 12 743 3,890 209.359 190 3,233 161,298 Cash at bank and in hand 213,992 164,721 Creditors-. arnounts falling due within one year 13 120.8111 (24, T25J Net current assets 193,181 139,996 Total assets le55 curTrnt liabilitie$ 193,181 139.996 Total net assets 193,181 139,996 Charity fund$ Reslricled funds Unreslrtcled funds 14 14 193,181 139,996 Total funds 193,181 139,996 The financial s181emenls were approved and authorised for issue by the Trusleès and signed on their behalf by.. Mr. K. Moody IHead Teacher) Date.. 6.6.22 The notes on pages 9 to 17 form part of these financial statements. Page 8
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ounting policies 1.1 Basis of preparation of financlal stst&ments The financial slalements have been prepared in accordance with the Charities SORP IFRS 102} - Accounting and Reporting by Charities.. Slalemenl of Recommendgd Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 2015). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Char¢lies Act 2011. The financial statements have been prepared lo give a 'lrue and fair. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair, vlew. This departure has involved following the Charities SORP IFRS 1021 published on 16 July 2014 rather than the Accounting and Repong by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Oakwoo(J Park Grammar School Trust is an unincorporatgd charllable trust, and meets the definllion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical C081 or transaction value unless Otherwise slated in the relevant accounting policy. 1.2 Golng concern The financxal statements have been prepared on a going concem basis as the trustees believe that with govemment support packages available and projected income and expenses, the charity will continue in operalional existence with suffiaent resour¢e5 to be able lo continue a5 a going concern. 1.3 Income All income is recognised once the Charity has gntillgment to the income. il Ss probable that the income will be received and the amount of income receivable can be measuied reliably. 1.4 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit lo a third party, il 15 probable that a transfer of economic benefits wi51 be required in settlement and the amount of the obligation can be measured reliably. Expgndilure 15 classified by activity. The costs of each activity are rnade up of the total of direct costs and shared costs, including support costs involved in undertaking each a¢livity. Direct costs attributable to 8 single activity are allocated dSreclly to that aclivily. Shared costs which contribute to more than one activity and support costs which are not allribulable lo a sSngle activity are apportioned between those activities on a basis con51slenl wlh the us8 of resources. Central staff costs are allocated on tho basls of Ilme spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds Includes 811 expenditure incurred by the Charity lo raise funds for ils charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on d1cl1Y undertaking the activities which further the Charitys objectives, as well as any associated support costs. 1.5 Sto¢k$ Stocks are valued at the lower of cost and nel realisable value after making due allowan for obsolete and slow-moving stocks. Cost includes all dire¢l costs and an appropriate proportlon of fixed an(1 variable overheads. Page 9
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting policies l¢ontinuèd} 1.6 Debtor5 Trade an(J other debtors are recogntsed al the setuement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1.7 Cash at bank and in hand Cash al bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or openSng of the deposit or similar account. 1.8 LiabilÉtiès and provisions Liabilities are recognised when there is an obligation al the Balance she&l dale as a result of a past event, it is probable that a transfer of economic benefit will be required in selllemenl. and the amount of the selllemenl can be eslimaled reliably. 1.9 Fund accounting All funds held are unrestricted funds, and can be used in accordance wilh the charitable objects, at the discretion of the Trustees. Within the general fund the Trust operates a staff a¢counl, which is used to account for monies reiVed from school staff towards the cost of drinks. In¢om8 from donations and legacies Unrestricted funds 2021 Totsl funds 2021 Total funds 2020 Donations 44.127 3,420 44.127 3.420 49, 775 11,982 School grants Total 2021 47.547 47,547 61, 757 Total 2020 61.757 61,757 Page 10
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Income from generating activities Income from fundraising events Unrestricted funds 2021 Total funds 2021 Total funds 2020 Lettings 1,900 1.900 800 Total 2020 800 800 Income from charitable actlvlti¢$ Unrestrl¢ted funds 2021 Total funds 2021 Total funds 2020 Student Exchange School Kil and Equipment School Produ¢lions Clubs and Societies Physical Education Revlslon Guides UCAS Applications 6th Form Leavers Lockers Other Staff fund 1,678 8,493 73 8,484 4,000 3,042 2,511 3,281 3,791 32,674 2,665 7.548 1,496 25 7,548 1A96 25 15,689 2,684 992 1,420 13,034 2.053 12,180 15.689 2.684 992 1.420 13,034 2,053 12,180 Reimbursement of school trip expenses Total 2021 57,121 57,121 70,032 Total 2020 70.032 70,032 Page 11
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Inv¥$tment income Unrèstricted funds 2021 Total funds 2021 Total funds 2020 Bank interest 17 17 436 Total 2029 436 436 Expgnditure on raising funds Costs of raislng voluntary income Unrestrictsd funds 2021 Totsl funds 2021 Total funds 2020 Donations and fundraising 100 100 1,608 Totèl 2020 1,608 1,608 Analysis of expendlture on ¢harltablè activities Summary by fund type Unrestricted funds 2021 Total funds 2021 Total funds 2020 Charities activiles 53,300 53,3011 129.302 Total 2020 729,302 129.302 Page 12
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Analysis of exponditure by actlvltles Activities undertaken dlre¢tly 2021 Support ¢osts 2021 Total funds 2021 Tol81 funds 2020 Charitable activities 51,455 1,845 53,300 129,302 Tofal 2020 128,066 1.236 129,302 Analysls of dlrect costs Total funds 2021 Total funds 2020 A¢tivitlgs 2021 School Kil and Equipment School Productions Clubs and Societies RevSsion Guides Ex-Gralia Payments 6th FDrrn Leavers Reimbursement lo School Other Stsff Expenditure 15,282 566 15.282 566 1,350 8,855 1.860 1.198 8,988 12351 1,105 22,646 690 16,519 636 1,350 8,855 1,860 1,198 8,988 12.251 1,105 942 4,624 73,246 f, T30 1,033 Total 2021 51,455 51,455 128,066 Total 2020 128.066 128.066 Page 13
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Anatysls of expenditure by acllvltles Icontinuedl Analysis of support costs Total fund$ 2021 Tol81 funds 2020 Activities 2021 Bank Charges and Interest Independent Examination Fee 522 522 1,323 1.323 1,236 Total 2021 1.845 1,84S 1,236 Total 2020 7,236 1,236 Independent examinerfs remuneratlon 2021 2020 Fees payable to the Charilvs indep&ndent examiner for the independent examination of the Charilws annual accounts 1,323 1,236 10. Tru$tèes' remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2020- £NIL). During the year ended 31 August 2021, no Trustee expenses have been incurred (2020- £NIL). 11. Stocks 2021 2020 School kil 743 Page 14
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 12. Debtors 2021 2020 Due wlthln one year Accrued Income 3.890 3,233 3,890 3,233 13. Credltors: Amounts falling due withln one year 2021 2020 Other creditors Accruals and defeffed income 1,200 23,525 20,811 20,811 24, 725 Page 15
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 14. Statement of funds statement of funds - current year Balance at 1 Septembar 2020 Balanco at 31 August 2021 Income Expenditure Unrestrl¢ted funds General Fund Staff Account 126,942 13.054 104,532 2.053 152,2951 (1.1051 179.179 14,002 139,996 106.585 153.4001 193,181 statement of funds - prior year Balance al I September 2019 88lance al 37 August 2020 InGome ExpendAlurg Unrestricted funds General Fund Staff Account 126,459 17.422 130.360 2.665 (729,877) (1.033) 126.942 13,054 137,881 133.025 (130,910) 139,996 15. Analysis of not ass&ts bgtwoan funds Analysi$ of net assets between funds- current year Unrastricted funds 2021 Total funds 2021 Current assets 213.992 120,8111 213.992 120,811) Creditors due within one year Total 193,181 193,181 Page 16
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 15. Analysis of net assets between funds lcontlnuedl Analysis of net a$sets between funds - prior year Unreslricled fvnds 2020 Total funds 2020 Current assets Creditors due within one year 164. 721 f24, 725) 164.T21 (24. 725) Total 139,996 139,996 16. Related party transactions During the year, the Trust paid £8.98812020.' £73,246) to Oakwood Park Grammar School in regards to r8imbursemenl of expenses paid. As al the year end, there were no amounts due to Oakwood Park Grammar SchoDI12020'. £Nil). Page 17