Charity number: 1024743 OAKWOOD PARK GRAMMAR SCHOOL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
OAKWOOD PARK GRAMMAR SCHOOL TRUST CONTENTS Page Reference and administrative details of the Charity, its Trustees and advisers Trustees. report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statements 8-16
OAKWOOD PARK GRAMMAR SCHOOL TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023 Trustees Mr. K. Moody, Head Teacher Mr. M. Housden, Trustee Mr. G. Twist, Trustee Mrs. J. Murton. Trustee Charity registered number 1024743 Principal office Oakwood Park Maidslone Kent ME16 8AH Independent examiner MHA Chartered Accountants Victoria Court 17-21 Ashford Road Maidslone Kent ME14 5DA Bankers Nalwest Bank plc 3 High Street Maidslone Kent ME14 1XU Page 1
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees present their annual report together with the financial statements of the Charity for the September 2022 10 31 August 2023. Objectives and activities a. Aims and objectives The Trustees hold the trust fund and ils income upon trust lo enable them lo assist families and students where a lack of income prevents them from purch8sing school unifom and games kil, or from being able to go on school trips or educational visits. The trust also assists 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 of children attending Oakwood Park Grammar School, or for the benefit of any such other exclusively charitable objects and purposes in the United Kingdom or worfdwide as the Trustees, in their discretion, see fil. In setting objectives, developing strategies and undertaking aclivilies, the trustees have given careful consideration lo the Charity Commission's general guidance on public benefit under section 4 of the Charities Act 2006. Achlevements and performance a. Maln achlevements ofthe Charlty The 6th Form Charities supported in 2022123 were Spadework and Air Ambulance who each received £1,325.00. In addition to the 6th Fom) Charities, a donation was made to The Teenage Cancer Trust of £190.81, with the money being raised by students who held a collection at a Drama Showcase performed in school in April, a donation of £667.47 was also made to Maidslone & Mid Kent MIND which was raised by students holding a Non- Unifom) Day in February. The Trust Fund has continued lo support students and families who experience financial difficulties when paying for locker rental, revision reSoUrs. PE activities etc. including 2 year 9 students who wanted lo complete the Bronze Duke of Edinburgh Award. Throughout the year, the Trust Fund made several purchases lo support the school in a variety of ways, these include.. £2,342.20 for Books for the RE department. £2,988.70 for New Kil for the Football Teams in the PE department. £172.50 for Handballs for the PE department. £166.65 for 2 Gazebos for the PE department. £90.00 for a Sofa for the Library. The Trust supported the Theatre Studies department at a cost of £1,253.00 by paying for students to attend and partake in the Shakespeare School Festival al a local Theatre. The Senior Sports Celebratory Dinner was also supported with a donation of £902.54 to help towards the cost of the guest speaker and the Awards presented lo students. The Theatre Studies department was permilled lo stage a production for the first lime since the covid pandemic in 2020". The Addams Family, this was well supported with the show raising funds of £834.31 to be carried over to subsidise the costs of this yearfs production of Bugsy Malone. Page 2
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Achlevements and performance Icontlnued) School kil {clolhingl continues to be sold through Simmons: however, stationery, lies and badges can be purchased through the school. The Trust Fund donation for year 7's remains al £100.00 as a one-off payment lo cover 5 years. The year 12 student's donation remains at £30.00 to cover years 12 and 13. The School Learning ReSoUrS Fund account continues with parents making monthly contributions of £5.00. Flnanclal revlew a. Funds General fund incoming resources increased by £47,559 this year to £141,438. Expended resources increased by £40,257 10 £105,947. Overall this left a surplus on the general fund for the year of £35,491, this compared to a surplus of £28,189 for the year to 31 August 2022. Income of £2,259 was received into the staff fund during the year, and with expenditure of £3,358 this left deficit of £1,099 for the year. compared to a deficit of £192 for the year lo 31 August 2022. When taken to the Balance Sheet, these movements in the year end had the combined effect of increasing the charit$ nel assets by £34,392 10 £255,570 as at 31 August 2023. b. Going concern The Iruslees have reviewed the charity's forecast and projects, and the Iruslees are confident that the charity will have adequate resources to continue in operational existence for the foreseeable future. The charity continues lo adopt the going concern basis in preparing ils financial statements. ¢. Reserves pollcy The reserves of the Charity are held in unrestricted funds. The Trustees monitor projects on an individual basis to ensure there are sufficient reserves held to meet future project costs and the Charity's legal obligations. Due to the nature of the Charity, direct costs is influenced by income received 8nd there are sufficient reserves lo meet the support costs of the Charity. Structure. governance and management a. Constltutlon 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 lo as the OPGS Trust. Page 3
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2023 Structure. governance and management {contlnuedl b. Methods of appointment or election of Trustees The number of Tnjstees is restricted to a minimum of four, with no maximum. and may include the following officials. for the time that they hold office at the School:_ one of the Govemors of the School, 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 the Govemors the Assistant Head Teacher Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees. report and the finaneial statements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Aceepled Accounting Practice). The law applicable to chaTrtEs in England & Wales requires the Trustee5 to prepare financial ststemenls for each financial which gwe a true and fair Mew of the slate of affairs of the Charty and of ils incoming resou5 and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Chaiilies SORP IFRS 1 D21.. make jLJdgements and accounting estimates that are reasonable and PTudent', state whether applicable UK Accounting Standards IFRS 102) have been followed, subject to any material departures disclosed and explained in the financial slatemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charty wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable ac¢uracy at any time the financial position of the Charity and enable them to ensure that the financial slalement5 comply with the Charities Act 2011, thg Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safegu2rding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behaw by." Mr. K. Moody (Head Teacher) Date.. 14 Page 4
OAKWOOD PARK GRAMMAR SCHOOL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023 Indepondent examingr's report to the Trustegs of Oakwood Park Grammar School Trust {'the Charity.) I report lo the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2023. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the 2011 Act'i. I report in respect of my examination of the Charills 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 section 14515llbl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by sertion 130 of the 2011 Act,. or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements Conrning the form and content of This report is made solely to the Charitys TTUStees, as a body, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate lo the Charitls Trustees those matters l am reqLJired to 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 to anyone other than the Charity and the Charills TrLJStees as a body, for my work or for this report. Signed.. Dated.. 07 June 2024 Duncan Co¢hrane-Dyel Bsc BFP FCA For and on behalf of MHA Maidstone United Kingdom Page 5
OAKWOOD PARK GRAMMAR SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 Unrg$tricted funds 2023 Total funds 2023 Total funds 2022 Notg Income from- Donations and legacies Charitable activities 38,021 103,507 38,021 103,507 24,356 69,554 780 Other trading activities Investments 2.169 2.169 98 Totsl income 143,697 143,697 94, 788 Expenditure on: Raising funds Charitable activities 878 108.427 878 108.427 601 66,190 Totsl oxpgnditure 109,305 109,305 66,793 Net movement in funds 34.392 34.392 27,997 Reconciliation of funds- Total funds brought forward Net movement in fLJnds 221,178 34,392 221,178 34,392 193,181 21,997 Total funds carrled forward 255.570 255.570 221, f 78 The Statement of financial activities 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 2023 2023 2022 Note Current assets Stocks Debtors 13 14 680 3,026 271,313 578 3, 761 237,982 Cash at bank and in hand 275.019 242,321 Credf(ors' amounts falling due wrthin one year 15 119.4491 (21, 143) Net Current assets 255.570 221,178 Total net assets 255,570 221,178 Charity funds Restricted funds Unrestricted funds 16 16 255,570 221, 178 Total funds 255,570 221, IT8 The financial statements were approved and authorised for issue by the Trustees and signed on their behaw by.. Mr. K. Moody (Head Teach r} @(g) Dale.. The notes on pages 8 to 16 fomi part of these financial statements. Page 7
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Ggngral information Oakwood Park Grammar School Voluntary Fund is a charity registered in England and Wales. The address of the registered Offi is given on page 1 of the financial statements. The nature of the charitls operations and principal activities is the assistance of families and students of Oakwood Park Grammar School in purchasing school uniform, income towards school trips and educational visits. Accounting policies 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 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 IFRS 1021 {effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statements have been prepared lo give a 'lrue and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'true and fairf view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Oakwood Park Grammar School Trust is an unincorporated charitable trust, and meets thè 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. The financial statements are presented in sterling which is the functional currency and is rounded to the nearest £1. 2.2 Going concern The Trustees consider that there are no materi81 uncertainties about the Charitys ability to continue as 8 going concern. 2.3 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be reiVed and the amount of income receivable can be measured reliably. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in settlement and the 8mounl of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lolal of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs allribulable to a single activity are allocated direclly lo that activity. Shared costs which contribute lo 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 allo¢ated on the basis of lime spent, and depreciation 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 2023 Accounting policies Icontinugd) 2.4 Exponditure Icontinuedl Expenditure on raising funds includes all expenditure incurred by the Charity lo raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitsble trading. Expenditure on charitable activities is incLJrred on directly undertaking the activities which further the Charitls objectives, as well as any associated support costs. 2.5 Stock$ Stocks are valued at the lower of cost and nel realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. 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-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liabilities and provisions Liabilities are recognised when there is an obligation al the Balance sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 2.9 Fund accounting All funds held are unrestricted funds, and can be used in accordance with the charitable objects, at the discretion of the Trustees. Within the general fund the Trust operates a staff account, which is used to account for monies received from school staff towards the cost of drinks. Critical accounting estimatgs and araas of judgement No key judgements (apart from those involving estimates as disclosed in the notes above) have been made in the process of applying the above accounting policies. Page 9
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 In¢omg from donations and 1gga¢i9S Unrestrictgd funds 2023 Total funds 2023 Total funds 2022 Donations 38,021 38,021 24,356 Total 2022 24,356 24,356 Income from trading activities Income from fundralslng events Unrestricted funds 2023 Total funds 2023 Total funds 2022 Lettings 780 Total 2022 780 780 Page 10
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 In¢omg from charitsblg activitios Unrestrictgd funds 2023 Total funds 2023 Total funds 2022 School Kit and Equipment School Productions 8,566 2,176 8,020 1,900 14,690 3,461 9,055 4,154 8,649 2,259 40,577 8,566 2,176 8,020 1,900 14,690 3,461 9,055 4,154 8,649 2,259 40,577 9,863 Clubs and Societies 12,753 500 15,075 4,774 8,878 5,856 4,696 909 Physical Education Revision Guides UCAS Applications 6th Form Leavers Lockers Other Staff fund Duke of Ediburgh Award 6,250 Total 2023 103,507 103,507 69,554 Total 2022 69,554 69,554 Investment income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Bank interest 2,169 2,169 98 Tot812022 98 98 Page 11
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Expgnditure on raising funds Costs of raising voluntary income Unrestricted funds 2023 Total funds 2023 Total funds 2022 Donations and fundraising 878 878 601 Total 2022 601 601 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2023 Total 2023 Total 2022 Charitable activities 108,427 108,427 66,790 Total 2022 66,190 66,190 10. Analysis of expenditure by activities Actlvltles undertaken dlrectly 2023 Support costs 2023 Total funds 2023 Total funds 2022 Charitable activities 105,814 2,613 108,427 66,190 Total 2022 64,193 1,997 66,190 Page 12
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 10. Analysis of exponditurg by a¢tivitig$ Icontinugd) Analysis of direct costs Total funds 2023 Total funds 2022 Activities 2023 School Kil and Equipment School Productions Clubs and Societies 6,122 1,731 11,511 6,122 1,731 11,511 7,902 1,255 10,644 E iii Revision Guides Ex-Gralia Payments 6th Form Leavers Reimbursement to School 10,695 1,770 9,787 15,994 16,901 3,358 27,945 10,695 1,770 9,787 15,994 16,901 3,358 27,945 11,928 1,423 8,165 2, 785 16,806 1,707 2,184 Other Staff Fund Expenditure Duke of Edinburgh Award Total 2023 105,814 105,814 64,793 Total 2022 64,193 64,193 Analysis of support costs Total funds 2023 Total funds 2022 Activities 2023 Bank Charges and Interest Independent Examination Fee 1,024 1,589 1,024 1,589 465 1,532 Total 2023 2,613 2,613 1,997 Total 2022 1,997 1,997 Page 13
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Indgpgndgnt gxamingrfs rgmunoration 2023 2022 Fees payable to the Charity's independent examiner for the independent examination of the Charills annual accounts 1,589 1,532 12. Trustees. remuneration and expenses During the year, no Trustees received any rernuneration or other benefits (2022- £NIL). During the year ended 31 August 2023, no Trustee expenses have been incurred (2022 - £NIL). 13. Stocks 2023 2022 School kil 680 578 14. Debtors 2023 2022 Due wlthln one year Accrued income 3,026 3,761 3,026 3,767 15. Creditors: Amounts falling due within one year 2023 2022 AccrLJals and deferred income 19,449 21, 743 Page 14
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 16. Statgmgnt of funds Statgmgnt of funds - current yoar Balan¢0 at 1 September 2022 Balan¢9 at 31 August 2023 Income Expenditure Unrestrlcted funds General Fund Staff Account 207,368 13.810 141,438 2.259 1105,9471 13,3581 242,859 12.711 221,178 143,697 1109,3051 255,570 Statement of funds - prior year Balance at 1 September 2021 Balance al 31 August 2022 Income Expenditure Unrestricted funds General Fund Staff Account 179,179 14,002 93,879 909 (65,690) (1, 101) 207,368 13,810 193, 181 94, 788 (66, 791) 221, 118 17. Analysis of net assets between funds Analysis of ngt assgls between funds - curront year Unrgstricted funds 2023 Total funds 2023 Current assets Creditors due within one year 275,019 {19,449} 275,019 119.449) Total 255,570 255,570 Page 15
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 17. Analy$i$ of not a$$ots bgtwggn funds lcontinugdl Analysis of n9t assots bgtwgen funds - prior ygar Unreslricted funds 2022 Total funds 2022 Current assets 242,321 (27, 743) 242,327 {21, 743) Creditors due within one year Total 221,178 221,178 18. Related party transactions During the year, the Trust paid £15,994 12022.. £2,785) lo Oakwood Part( Grammar School in regards to reimbursement of expenses paid. As at the year end, there were no amounts due to Oakwood Park Grammar School12022.. £Nill. Page 16