Charity number: 1024743 OAKWOOD PARK GRAMMAR SCHOOL TRUST UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
OAKWOOD PARK GRAMMAR SCHOOL TRUST CONTENTS Page Reference and administrative details of the Charity. its Trustees and advisers Trustee5' report Independent examinerfs report Ststsment of financial activitie5 Balan¢¥ $h•&t Notos to th¢ finan¢ial $tstomonts 8-16
OAKWOOO PARK GRAMMAR SCHOOL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees Mr. K. Moody, Head Teacher Mr. M. Housden, Trusteè Mr. G. Twist, Trustee Mrs. J. Murton. Trustee Charity registered number 1024743 Principal office Oakwood Park Maidstone Kent ME16 8AH Indendnt examlnèr MHA Chartered Accountant5 Victoria Court 17-21 Ashford Road Maidslone Kent ME14 SDA Bankers Nalwesl Bank plc 3 High Street Maidstone Kent ME14 1XU Page 1
OAKWOOO PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees present their annual report together wrth the financial statements of the Charty for the September 2021 to 31 August 2022. Objectives and activities a. Aims and objectives The Trustees hold the trust fund and its income upon trust to enable them to assist families and students where a lack ol income prevents them from purchasing school uniform and games kit, or from being able to go on school trips or educational visit5. The trust a150 a55ists the sixth form by purchasing equipment for their annual fund raising. The charitable objects are to the furtherance of the education of and for the benefit ol children attending Oakwood Park Grammar School. or for the benefit of any such other exclusively charitable objects and puip05es in the United Kingdom or worldwide as the Trustees, in their discretion, see fit. In setting obie¢lives, developing strategies and undertaking a¢tivrties, the trustees have given ¢areful consideration to the Charity Commission's general guidance on public benefit under section 4 of the Charities Act 2006. Achlèvgmgnts and pèrforn)anc a. Main achievements of the Charity The 6th Form Charities supported in 2021122 were Maidstone MIND 0 received a donation of £1,178.36, and Dementia UK & Demelza Hospice who both received £595.37 each. Donations were also made to Stonewall Charity and Young Minds al a total of £301.08 which was raised by students holding cake sales. The Trust donated £300.00 lo Slideaway for bereavement support for students. The Trust Fund has Continued tts support students by purchasing bus and train tickets and bus passes to enable pupils lo attend school whose paren15 Could not afford the travel expenses, purchasing school unrform for disadvantaged students, and generally supporting families who have financial difficulties when paying for locker rental, revision resources, PE activits.es etc. The Trust supported The Senior Sports Celebratory Dinner wrth a donation of £587.66 to help towards the cost of the gLJest speaker and the Awards presented to students. The Trust also supported the Theatre Studies department at a cost of £1,410.60 by purchasing A Lighting Control Console for the drama studio. School kit Iclothingl continues to be sold through Sirnmons,. however, stationery, ties and badges can be purchased through the sd)ool. The Trust Fund donation for year 7's remains al £100.00 as a one-off payment to cover 5 years. The year 12 student's donation remains at £30.00 to cover years 12 and 13. The School Leaming Resources Fund account continues wth parents making monthly contributions of £5.00. Page 2
OAKWOOO PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Financial review a. Funds General fund incorning resources decreased by £10.653 this year to £93,879. Expended resources increased by £13,395 to £65,690. Overall this left a surplus on the general fund for the year of £28,189, this compared to a surplus of £52,237 for the year to 31 August 2021. Incorne of £909 was received into the staff fvnd during the year, and wth expenditure of £1,101 this left a deficit of £192 for the year, compared to a surplus of £948 for the year to 31 August 2021. When taken to the Balance Sheet, these movements in the year end had the combined effect of increasing the charity's net assets by £27,997 to £221,178 as at 31 August 2022. b. Golng concèrn The trustees have reviewed the ¢harily's foie¢asl and proje¢ts, and the trustees are ¢onfidenl that the ¢harity wll have adequate resources lo continue in operational existence for the foreseeable future. The charity continues to adopt the going concern basis in preparing its financial statements. e. Rasèrvgs pollcy The reserves of the Charity are held In unre51ricled funds. The Tru51ees monitor projects on an individual basis to ensure there are sufficient reserves held to meet future project costs and the Charity's legal obligations. Structuro, govèmancè and managomènt a. Constitution The charity's 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 Trust. b. Mathods of appointmènt or elèction of Trustees The number of Trustees is restricted to a minimum of four, wrth no maximum, and may include the following offici315, for the time that they hold office al the School:_ one of the Govemors of the sch1, appointed by the Govemors., the Headmaster of the School., one of the other members of leaching staff, who shall be nominated by the Headmaster and appointed by Page 3
OAI(WOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 ststement of Trustees, re8ponslbllttles The Trustees are responsible for preparing the Trustees. repgrt and the )Inan¢ial statemenis in arxordance vMth applicable law and United ngdorn Aceounts"n9 Standard5 Iunited Kin9dorn Generalty Accepted Accounting Practice). The law applirable to charibes in England & Wales requir8s the Trustees to prepare financial Statements for each finanaal which give a true and fair wew of the state of affairs of the Charty and ol its iricoming resourGes and application of resources, including its income and expenditure, for that period. In preparing these financ¢al statements. the Trustees are required to.. select surtable accounting polie8 and then apply them consistenuy.. observe the methods and PTinciples of the Charities SORP IFRS 1021.. make judgements and accounting estimates that are reasonable and pwdent., state whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern ba¥is unles3 it 18 inappropriate to pre$urne that the Charity conb.nue in business. The Trustees are responsible for keeping adequate accounb.ng records that are suffiaent to show ané explain the Charity's transactions and disclose wilh reasonable accura¢y at any time the finanryal position of the Charity aniy enable them to ensure that the finan¢ial statements comply wih the Charibes Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the prow5ion$ of the TnJ5t deed. They are also responsible for safeguarding the assets ol the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularityes. Approved by order of the members of the boaTd of Trustees and signed on Iheir behalf by.. Mr. K. Moody (Head Teacherl Date. S_ g a3 Page 4
OAKWOOD PARK GRAMMAR SCHOOL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Independent examinerfs report to the Trustees of Oakwood Park Grammar School Trust I'the Charlty'l I report to the Charity Trustee$ on my examination of the a¢¢ounts of the Charity for the year endeil 31 August 2022. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirèmènts of thè Charities Act 2011 I'the 2011 Ael'l. 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 se¢lion 14515llbl of the 2011 A¢t. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection wth the examination giving me cause lo believe that in any maleiial 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 thè aceounts do not comply wth thè applicable rÈquirÈments concerning thè fom and contènt of This report is rnade solely lo the Charity's Trustees, as a body, in accordance wlh 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 l am qUired 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 responsibilty lo anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed". Dated". 06 June 2023 Duncan Cochrane-Dyet Bsc BFP FCA For and on behalf ol MHA Maidstone United Kingdom Page 5
OAKWOOD PARK GRAMMAR SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 Unr8stricted funds 2022 Total funds 2022 Totèl funds 2027 Nota Income from.. Donations and legacies Charitable activits'es Other trading activities Investments 24,3S6 69,554 780 98 24,356 69,554 780 98 47,547 57, 121 1,900 17 Total Incom& 94,788 94,788 106,585 Expenditure on- Raising funds Charitable acliwties 601 601 loo 66,190 66,190 53,300 Totsl expenditure 66,791 66.791 53,400 Net movement in funds 27.997 27,997 53, 185 Reconciliation of funds= Total funds brought forward Nel movement in funds 193,181 27,997 193,181 27,997 739,996 53, 185 Total funds carried forward 221,178 221,178 193, 181 The Statement ol financial aciivities includes all gains and losses recognised in the year. The notes on pages 8 to 16 form part of these financial statements. Page 6
OAKWOOD PARK GRAMMAR SCHOOL TRUST BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 Current assets Stocks Debtors Cash at bank and sn hand 13 578 3.761 237.982 743 3,890 209.359 14 242.321 213.992 Creditors.. amounts falling due within one year 15 {21,1431 (20,811) N•t curront ass•ts 221.178 193,181 Total not ass•ts 221,178 793,181 Charity funds Unr851rict&d funds 18 221,178 193, 181 Total funds Z21.178 193,181 The fin8n¢ial statements were approved and authorised ftsr issue by the Trustees and 5iyned on their behalf ty. Mr. IC Moody (Head TeacheTI Date.. s.g.33 The note$ on pages 8 to 16 form part ofthese fiarla1 statem&rts. Page 7
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 General infomiation Oakwood Park Grammar School Voluntsry Fund is a charity registered in England and Wale5. The address of the registered office is given on page 1 of the financial slalements. The nature of the Charity's operations and principal adivities is the assistance of families and students of Oakwood Park Grammar School in purchasing school unrfomi, income towards school trips and educatsonal visits. Accounting policiès 2.1 8asis of proparation of financial statemonts The financial slalemenls have been prepad in accordance wth the charib.es SORP IFRS 1021 Accounting and Reporting by Charities". Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance wth the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191, the Financial Repcsrting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charits'es Act 2011. The financial statements have been prepared to give a Irue and fail view and have departed from the Charities IAccounts and Reports) Regulations 2008 only lo the extent required lo provide a Irue and fairf view. This departure has involved followng the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charitie5.' Statement of Recommended Practice effective from 1 April 2005 vthich has Sin been withdrawn. Oakwood Park Grammar Schoc4 Tnjsl is an unincorpofaled charitsble Irusl, and meets the definition of a public benefit entity undef FRS 102. Assels and liabilities are initially recognised at historical cost or transaction value unle$$ otherw$e ststed in the relevanl acwunling p¢)liw. The financial statements are presented in sterlin9 which is the functional currency and is rounded lo the nearest £1. 2.2 Golng ¢onc•m The Trustees consider that there are no material uncertainties about the Charitys abilty to conts'nue as a going concern. 2.3 Income All income is recognised once the Charity has entrfement to the in¢ome, it is probable th* the income will be received and the amount of income receivable can be measured reliably. 2.4 Expenditure Expenditure is recognised once there is 3 legal or constructive obligation to transfer economic benefit to a third paty. it is prObae thal a transfer of economic benefits wll 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 cost5 and shared costs, including support costs involved In undertaking each athity. Direct Costs attn"bulable to a single activity are allocated directly to that a¢tiwty- Shared Costs which conlribule lo more than one activity and support costs which are not attributable to a single activty are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on Ihe basis of time spent, and depreciats'on charges allocated on the portion of the asset's use. Page 8
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accounting policies (continued) 2.4 Expgnditure (continued) Expenditure on raising funds indude5 all expendrture incurred by the Charty to ra15e fvnd5 for 115 charitable purposes and indudes costs of all fundraising acbvtbes events and non-charilable trading. Expenditure ¢)n ¢haritat4e a1V.e$ 1$ in¢urred on dice¢lly undertaking the aclivrtie$ vthich further the Charity's objectives, as well as any associated support costs. 2.5 Stocks Stocks are valued * the lower of cost and net 811$able value after making due allowance for obsolete and s10moVIng st¢xks. Cost indude$ all dire costs and an appropriate proportion of fixed and variable overheads. 2.6 Oebtors Trade and other debtors are recognised al the settlement amount after any trade discount off&red. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash al bank and in hand Includes cash and short-temi highty liquid investments with a short maludly of three months or less from the date ol acquisib'on or opening of the deposit or similar account. 2.8 Llabllltles and provlslons Liabilities are recognised vA)en the is an obligation al the Balance Sheet date as a result of a past event, il is probable that a transfer of economi¢ benefit will be fequired in settlement, and the amount of the settlement can be estimated lIablY. 2.9 Fund accountlng All fvnd5 held are unreslncted lunds, and can be used in accordance wth the charitable objects, al the discretion of the Trustees. Wthin the general fund the Trust operates a staff account, which 18 used to account for monies received from school stsff lowards the cost of drinks. Critical accounting estimates and areas of judgomont No key judgements (apart from those invofving estimates as disdosed in the notes abovel have been made in the process of applying the above accounling policies. Page 9
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from donations and legacies Unrnstrl¢tod funds 2022 Total fund$ 2022 Total funds 2021 Donations School grants 24,356 24.356 44, 12T 3,420 Total 2022 24.356 24,356 47,547 Tol812027 47,547 47,547 Income from tradlng actlvltles Unrestrictod funds 2022 Total funds 2022 Tol81 funds 2021 Lettings 780 780 1,900 Tol812021 1,900 1,900 Page 10
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from charitable activities Unrnstrl¢tod funds 2022 Total fund$ 2022 Total funds 2021 Schoc4 Kit and Equipment S¢hool Production$ Clubs and Societies Physical Education Revision Guides UCAS Applications 6th Fom Leavers Lockers Other Staff fund Reimbursement of school trip expenses 9,863 9.863 7,548 1,496 25 12,753 500 15,075 4,774 8,878 5.856 10,946 909 12.753 500 15,075 4,774 8.878 5,856 10.946 909 15,689 2,684 992 1,420 13,034 2,053 12, 180 Total 2022 69,554 69,S54 57, 121 Tol812021 57,121 57, 121 Invostmont Income Unrvstrlct•d fund¥ 2022 Totsl fund$ 2022 Total funds 2021 Bank Inte$1 98 98 17 Total 2021 17 17 Page11
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Expenditure on raising funds Costs ol r*l$lng voluntary income Unrestricted funds 2022 Total funds 2022 Total runds 2021 Donations and fun¢Jrai$ing 601 601 100 Total 2021 loo 100 Analysls of •xp•ndlture on charitable actlvit• Summary by fund ty UnrnstrSct8d funds 2022 Total 2022 Total 2021 Charitable activrties 86,190 66,190 53,300 ro1812021 53,300 53,300 10. Analysis of expenditure by activities Actlvltlos und8rtak8n dirnctty 2022 Support costs 2022 Total funds 2022 Total runds 2021 Charitable activities 64.193 1,997 66.190 53,300 Total 2021 51.455 1,845 53,300 Page 12
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 10. Analysis of expenditure by activities Icontinuedl Analy$l$ of dlroct ¢o$ts Total funds 2022 Total funds 2021 A¢tlvltle$ 2022 School Kil and Equipment School Productions Clubs and Sociebes Revision Guides Ex-Gralia Payments 6th Form Leavers Reimbursement lo Scho Other Staff Expenditure 7,902 1.255 10,644 11,928 1.423 8.165 2,785 18,990 1,101 7.902 1,255 10,644 11,928 1.423 8,16S 2,785 18.990 1.101 15,282 566 1,350 8,855 1,860 1, 798 8,988 12,251 1, 105 Total 2022 64,193 64,193 51,455 ro1812021 51,455 51,455 Analy$l$ of support Costs Total funds 2022 Tol&l funds 2021 Activities 2022 Bank Charges and Interest Independent Examination Fee 465 1,532 465 1.532 522 1,323 Total 2022 1,997 1,997 1,845 Total 2021 1,845 1,845 Page 13
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 11. Independent examiner's remuneration 2022 2021 Fees payable to the Charitys independent examiner for the independent examination of the Charitys annual accounts 1.532 1,323 12. Trust••s' romunoration and expenses During the year, no Trustees received any remunernkn.on or other benefits (2021- £NIL). During the year ended 31 August 2022. no Trustee expenses have been incurred {2021- £NIL). 13. Stock¥ 2022 2027 School kit 578 743 14. D•btors 2022 2021 Duo Within ono yoar Accrued income 3.761 3,890 3,761 3,890 1S. Creditors: Amounts falling due within one year 2022 2021 A¢¢ruals and defeed inrne 21.143 20,811 Page 14
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 16. Statement of funds Statsment of fund$- current year Balan¢9 at 1 S8pt•mber 2021 Balanco at 31 August 2022 Income Expenditure Unre$trl¢led funds General Fund 179.179 14.002 93,879 909 {65,6901 11.1011 207,368 13.810 Staff Account 193,181 94,788 {66.7911 221,178 Stat8ment of fund¥- prior ygar Balance at 7 September 2020 8&18nc8 at 37 August 2027 Income Exp8nditurg Unrestrlcted fund* General Fund Staff A¢¢ounl 126.942 13,054 104.532 2,053 (52.295) (1, 105) 179,779 14,002 139.996 106,585 (53,400) 193, 181 Unrestricted funds can be used in accordance wth the Charrtable objects, al the discretion of the Trustees. Within the general fund, the Trust operates a staff acount Nthich is used to aOUnt for monies received from school staff towards the cost of drinks. Page 15
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 17. Analysis of net assets betwren funds Analysls of not a$$ets bet**en funds- Current year Unrestrl¢t funds 2022 Total funds 2022 Current assets Creditors due wrthin one year 242,321 121,1431 242.321 121,1431 Totsl 221,178 221.178 Analy$Ss of n•t as$•ts b•tvthn funds. prlor year Unrestric18d funds 2027 Total funds 2021 Current assets Creditors due wthin one year 213,992 (20,811) 213,992 (20,811) Total 193, 181 193, 181 Rolatod party transactbons During the year. the Trust pai(J £2,78512021". £8.9881 to Oakwood Park Grammar School in regards lo imbursement of expenses paid. As at the year end, there were no amounts due to Oakwood Park Grammar School12021.' £Nill. Page 16