Charity number: 1024743 OAKWOOD PARK GRAMMAR SCHOOL TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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 2024 Trustees Mr. K. Moody, Head Teacher (resigned 15 January 2025) Mr. M. Housden. Trustee Mr. G. Twist, Trustee Mrs. J. Murton. Trustee Charity registered number 1024743 Principal office Oakwood Park Maidstone Kent ME16 8AH Independent examiner MHA Chartered Accountants Victoria Court 17-21 Ashford Road Maidstone 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 2024 The Trustees present their annual report together with the financial ststements of the Charity for the September 2023 to 31 August 2024. 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 of income prevents them from purchasing school uniform and games kit, or from being able lo 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 worldwide as the Trustees, in their discretion. see fit. In setting objectives. developing strategies and undertaking activities. the trustees have given careful consideration to the Charity Commission's general guidance on public benefit under section 4 of the Charities Act 2006. Achievements and perfomiance a. Main achievements of the Charity The two 6th Form Charities supported in 2023124 were Dandelion who received £1,898.00 and MSF Drs Abroad who received £1,142.00. In addition to the 6th Form Charities, a donation was made to The Maidstone Homeless Centre of £859.75, with the money being raised by students holding a non-uniform day in Dember 2023, donations of £94.50 to Cancer Research and £129.50 to Centre for Mental Health were also raised by holding cake sales. The Trust Fund has continued to support students and families who experience financial difficulties when paying for locker rental, revision resources, PE activities etc. induding paying the entry fee for a student to represent England at the Schools Intemational Athletics Cross Country held in Dublin. The Trust supported deparlments within the school by making the following purchases: £1,394.00 for 4 refurbished laptops for the IT department. £1,266.00 for a VEO Technologies camera, tripod and case for the PE department. The Trust made a donation of £25,599.00 to the main school account, of which £12,799.50 was donated towards a Barrel Canopy for the students to have an outside seating area at break and lunchtimes. with the remaining balan of £12,799.50 being a donation for general school resources. The Theatre Studies department staged a production of Bugsy Malone with the Trust supporting the production by way of a £490.99 donation. School kit (clothing) continues to be scld through Simmons" however, stationery, ties and badges can be purchased through the school. Page 2
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and perforniance (continued) The Trust Fund donation for year 7's remains at £100.00 as a onff payment to cover 5 years. The year 12 student's donation remains at £30.00 to cover years 12 and 13. The School Learning Resources Fund account continues with parents making monthly contributions of £5.00. Financial review a. Funds General fund incoming resources decreased by £32.287 this year to £109.151. Expended resources decreased by £1,912 to £104,035. Overall this left a surplus on the general fund for the year of £5,116, this compared to a surplus of £35,491 for the year to 31 August 2023. Income of £2,618 was reiVed into the staff fund during the year, and with expendilure of £3,233 this left a deficit of £615 for the year, compared to a deficit of£1,099 for the year to 31 August 2023. When taken to the Balan Sheet, these movements in the year end had the combined effect of increasing the charitls nel assets by £4,501 to £260,071 as at 31 August 2024. b. Going concern The trustees have reviewed the chariws forecast and projects, and the trustees are confident that the charity will have adequate reSoUrS to continue in operational existen for the foreseeable future. The charity continues to adopt the going concem basis in preparing its financial statements. c. Reserves policy 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 Chariws legal obligations. Due to the nature of the Charity, direct costs is InflUend by income reiVed and there are sufficient reserves to meet the support costs of the Charity. Structure, governance and management a. Constitution The charity's governing 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. Page 3
OAKWOOD PARK GRAMMAR SCHOOL TRUST TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 Structure, govemance and management (continued b. Methods of appointment or election of Trustées Thp niimber of TnJstees is restricted to a rninimum of four, wtth no maximum, and may include the foll¢)wing offiGials, for the time that they hold Offi at tlie 8choDI-_ on8 of tha GovÉmors of the School, appointed by the Govemors" the Headmaster of the School" one of the other members of teaching staff, who shall be nominated by the Headmaster and appointed by the Governors the Assistsnt Head Teacher Statement of Trustees. responsibilities The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and UnitÈd Kingdom Accounting Standards (United Kingdom Generally AGGepted Accounting Practice). The law appliGable to chartties in Eiigldrid & Wale5 ieguires the Trustees to prepare financial statements for each financial which qwe a true and fair view of the state of affairs of the Chartty and of its incoming rp.qnlirS and application of rÈurce$, including its income and 8xpendrf(u, for that period. In preparing these finanGial stateiiieiits, the Trusteeb dre required to". select suilable accounting policies and then apply them consistently" obscrve the methods and principle¥ of the Charities SORP {FRS 102>". make judgements and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards {FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Chanty wll continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitvs transactions and disclose with reasonable accuracy at any time the financi81 posttion of the Charity and enable them to ensure that the financial ststements compty wth the Chartties Act 2011, the Charity (Accounts and Reports} Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charrty and hence for taking reasonable step5 for the prevention and detectioIi uf fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by: Mr. M. Housden Trustee Date: Page 4
OAKWOOD PARK GRAMMAR SCHOOL TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Independent examinerfs report to the Trustees of Oakwood Park Grammar School Trust {'the Charity,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2024. 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 (e 2011 Act,). I report in respect of my examination of the Charitys 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 145{5}(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material 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 the accounts do not comply with the applicable requirements concerning the form and content of This report is made solely to the Charitys Trustees. as a body. in accordance with 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 required to state to them in an Independent examiner's report and for no olher purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body. for my work or for this report. Signed- Dated.. 23 May 2025 Duncan Cochrane-Dyet Bsc BFP FCA For and on behalf of MHA Maidstone United Kingdom MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542) Page 5
OAKWOOD PARK GRAMMAR SCHOOL TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charilable activities Investments 22.968 85,110 3,691 22.968 85,110 3,691 38,021 103,507 2,169 Total income 111,769 111,769 143,697 Expenditure on: Raising funds Charitable activities 1,708 105,560 1,708 105,560 878 108.427 Total expenditure 107,268 107,268 109, 305 Net movement in funds 4.501 4,501 34,392 Reconciliation of funds: Total funds brought forward Net movement in funds 255,570 4,501 255,570 4,501 221,178 34,392 Tolal funds carried forward 260.071 260.071 255, 570 The Statement of financial activities indudes all gains and losses recognised in the year. The notes on pages 8 to 16 fomi part of these financial statements. Page 6
OAKWOOD PARK GRAMMAR SCHOOL TRUST BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Current assets stocks Debtors Cash at bank and in hand 12 13 420 2N67 275.455 680 3.026 271,313 278.342 275,019 Credttors.. amounts falling due wrthin one year 14 (18,271) (19,449) Net current assets 260.071 255.570 Total net assets 260,071 255,570 Charity funds Restricted funds 15 Unrestricted funds 15 260.071 255.570 Total funds 260.071 255, 570 Th@ finanr.ial statements were approved and aLthorised for issue by the Trusteos and signod on their beha]f by. Mr. M. Housden Trustee Date: Icii, The notes on pages 8 to 16 fom part of these financial statements. Page 7
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General information Oakwood Park Grammar School Voluntary Fund is a charity registered in England and Wales. The address of the regislered office is given on page 1 of the financial statements. The nature of the charitys operations and principal activities is the assistance of families and students of Oakwood Park Grammar School in purchasing school unifomi, 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 102) - 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 (FRS 102} {effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Charities Act 2011. The financial statements have been prepared to give a 'tnJe and fai¢ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charilies.. Statement of Recommended Practi effective from 1 April 2005 which has Sin been withdrawn. Oakwood Park Grammar School Trust is an unincorporated charitable trust. and meets the 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 material uncertainties about the Charitys ability to Ix)ntinue as a 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 received and the amount of income re1vable can be measured reliably. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in setuement 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 costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to 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 allocated on the basis of time 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 2024 Accounting policies (continued) 2.4 Expenditure (continued) Expenditure on raising funds indudes all expenditure incurred by the Charity lo raise funds for its charitable purposes and indudes costs of all fundraising activities events and non-charitable trading. Expenditure on charitable activtties is incurred on directly undertaking the activities which further the Charivs objectives, as well as any associated support costs. 2.5 Stocks Stocks are valued at the lower of cost and net 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 at bank and in hand indudes 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 at the Balan sheet date as a result of a past event, it 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 lo account for monies received from school staff towards the cost of drinks. Critical accounting estimates and areas of judgement No key judgements (apart from those involving estimates as disdosed in the notes above) have been made in the prOsS of applying the above accounting policies. Page 9
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from donations and legacies Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations 22,968 22,968 38,021 Total 2023 38,021 38,021 Income from charitable activities Unrestricted funds 2024 Total funds 2024 Total runds 2023 School Kit and Equipment School Productions 7,132 1,272 7.479 7,132 1,272 7,479 8,566 2,176 8,020 1,900 14.690 3,461 9,055 4.154 8,649 2,259 40.577 Clubs and Societies Physical Education Revision Guides 14,955 2,912 9,634 4.266 7.063 2.618 27.779 14,955 2.912 9,634 4,266 7,063 2,618 27,779 UCAS Applications 6th Form Leavers Lockers Olher Staff fund Duke of Ediburgh Award Total 2024 85,110 85,110 103,507 Total 2023 103.507 103.507 Page 10
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Investment income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Bank interest 3,691 3,691 2,169 Total 2023 2,169 2,169 Expenditure on raising funds Costs of raising voluntary income Unrestricted funds 2024 Total funds 2024 Total funds 2023 Donations and fundraising 1,708 1,708 878 Total 2023 878 878 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2024 Tolal 2024 Total 2023 Charitable activities 105.560 105,560 108.427 Total 2023 108,427 108,427 Page11
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activities Activities undertaken directly 2024 Support osts 2024 Total funds 2024 Total funds 2023 Charitable activities 103.424 2,136 105,560 108.427 Total 2023 105,814 2,613 108,427 Analysis of direct costs Total funds 2024 Total funds 2023 Activities 2024 School Kit and Equipment School Productions Clubs and Societies 6,410 2,597 8,049 11,150 1,275 9,391 28.912 11.746 3.233 20.661 6,410 2,597 8,049 11,150 1.275 9,391 28,912 11,746 3,233 20,661 6,122 1,731 11,511 10.695 1,770 9,787 15,994 16,901 3,358 27.945 Revision Guides Ex-Gratia Payments 6th Form Leavers Reimbursement to School Olher Staff Fund Expenditure Duke of Edinburgh Award Total 2024 103,424 103,424 105,814 Total 2023 105.814 105,814 Page 12
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by activities (continued) Analysis of support costs Tolal funds 2024 Total funds 2023 Activities 2024 Bank Charges and Interest Independent Examination Fee 522 1,614 522 1,614 1,024 1,589 Total 2024 2,136 2.136 2,613 Total 2023 2,613 2,613 10. Independent examinerfs remuneration 2024 2023 Fees payable to the Chariws independent examiner for the independent examination of the Charitys annual accounts 1,614 1,589 11. Trustees. remuneration and expenses During the year, no Twstees reiVed any remuneration or other benefits (2023 - £NIL). During the year ended 31 August 2024. no Trustee expenses have been incurred (2023- £NIL). 12. Stocks 2024 2023 School kit 420 680 Page 13
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 13. Debtors 2024 2023 Due within one year Accrued income 2.467 3,026 2,467 3.026 14. Creditors: Amounts falling due within one year 2024 2023 Accruals and deferred income 18,271 19,449 Page 14
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 15. Statement of funds Statement of funds - current year Balance at 1 September 2023 Balance at 31 August 2024 Income Expenditure Unrestricted funds General Fund 242,859 12,711 109,151 2,618 {104,035} (3,2331 247,975 12,096 Staff Account 255,570 111,769 {107,268} 260,071 statement of funds - prior year Balance at 1 September 2022 Balance at 31 August 2023 Income Expenditure Unrestricted funds General Fund Slaff Account 207.368 13.810 141,438 2,259 (105,947) (3,358) 242,859 12,711 221.178 143.697 (109,305) 255,570 16. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 Total funds 2024 Current assets 278,342 (18.271) 278,342 (18.271) Creditors due within one year Total 260,071 260,071 Page 15
OAKWOOD PARK GRAMMAR SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior period Unrestricted funds 2023 Total funds 2023 Current assets Creditors due within one year 275,019 (79,449) 2T5,019 (19,449) Total 255.570 255,570 17. Related party transactions During the year, the Trust paid £3,313 (2023: £15,994) to Oakwood Park Grammar School in regards to reimbursement of expenses paid. As at the year end, there were no amounts due to Oakwood Park Grammar School {2023.' £Nil). Page 16