Friends of Towers Fundraising Association
Trustees’ Annual Report for the Year Ended 31 August 2025
The trustees are pleased to present this annual report for Friends of Towers Fundraising Association for the financial year from 1 September 2024 to 31 August 2025. The year was another positive and active period for FOTFA, with the school community coming together to support a wide range of fundraising activities for the benefit of pupils at Towers Infant School.
The draft accounts for the year show total income of £30,329.91 and total expenditure of £25,631.62, resulting in a net surplus of £4,698.29 for the period. These results reflect a strong year of fundraising, continued careful cost management, and the sustained generosity of families, staff, volunteers and supporters.
Fundraising activity during the year included both established events and lowerintensity opportunities. Income was generated through a variety of activities, with the Summer Fete remaining our flagship fundraiser and generating £3,734.55 in net income. The second highest earning event was the Winter Ball, which generated net income of £1,174.17.
Gift sales for Mother’s Day and Father’s Day were popular, generating combined net income of £1,677.38, an increase of £460.18 compared with the equivalent events in 2023–24. A “Someone Loved” sale was introduced in February 2025, to coincide with Valentine’s Day, generating a further £557.33.
In 2024–25, we increased our focus on passive and low-cost income opportunities. Preloved uniform sales continued to support sustainability while also helping families manage costs, generating net income of £874.38 compared with £771.11 in 2023–24. Income from the ongoing School Lottery and Easy Fundraising schemes provided valuable regular contributions alongside event-based fundraising.
Adult-only events, including quiz night and wreath making, proved less popular during this financial year. The trustees will review whether these events should continue into 2025–26.
Challenges in 2024–25 included the increasing cost of goods, which raised the overall expenditure required to run events and sales, as well as ongoing pressure on volunteer numbers.
The treasurer’s report provides the detailed breakdown of income and expenditure by activity. The trustees note that, while individual events vary in the amount raised, the overall programme remains important because it strengthens the school community as well as raising funds.
During the year, FOTFA provided donations to the school totalling £11,886.73. These funds were used to support initiatives and resources that benefit pupils across the school, in line with FOTFA’s charitable purpose of advancing education and enriching the school experience for children. Donations in 2024–25 included gardening equipment for the Big Plant Out, an interactive whiteboard, £100 per class for teachers to choose their own supplies, phonics books, CPAG books and ELS activity books.
The trustees would like to record their sincere thanks to the school, staff, families, volunteers and everyone who supported FOTFA during the year. The success of the association depends on the time, energy and goodwill of the school community, and the trustees are grateful for the continued support received throughout 2024–25.
Accounts for the year ended August 31st 2025 were independently reviewed by Charndeep Sanghera, for which great thanks are due.
Friends of Towers Fundraising Association
FRIENDS OF TOWERS FUNDRAISING ASSOCIATION (Registered Charity No. 1037283)
ANNUAL ACCOUNTS
FOR THE YEAR ENDED AUGUST 31 2025
Friends of Towers Fundraising Association
BALANCE SHEET AS AT AUGUST 31 2025
SUMMARY OF INCOME AND EXPENDITURE
2024/25
| £ | ||
|---|---|---|
| Incoming Resources | ||
| Balance brought forward from 2023/24 | 15,174.15 | |
| Fundraising Events² | 15,241.59 | |
| Fundraising Sales² | 8,861.32 | |
| Passive Income² | 6,227.00 | |
| Total Incoming Resources | 30,329.91 | |
| Resources Expended | ||
| Fundraising Events² | 10,321.78 | |
| Fundraising Sales² | 2,836.94 | |
| Expenses³ | 586.17 | |
| Donatons to Towers Schools⁴ | 11,886.73 | |
| Total Resources Expended | 25,631.62 | |
| Balance Carried Forward to 2025/26 | 19,872.44 | |
| Net movement | +4,698.29 |
Friends of Towers Fundraising Association
NOTES TO THE FINANCIAL STATEMENTS
1. Accounting Policies
These accounts have been prepared under the Charities SORP. 2. Fundraising Events
| Activity/Event Income (£) Expenditure (£) Net (£) |
Activity/Event Income (£) Expenditure (£) Net (£) |
|---|---|
| EVENTS | |
| Summer Fete £7,950.13 £4,215.58 £3,734.55 Infatables Day £1,800.45 £1,499.00 £301.45 Panto 2025 £1,613.00 £3,010.00 -£1,397.00 Winter Ball 2024 £1,574.17 £400.00 £1,174.17 Panto 2024 £862.50 £197.20 £665.30 Wreath Making £443.21 £330.00 £113.21 Quiz Night £298.13 £0.00 £298.13 Pottery Evening £45.00 £0.00 £45.00 Bicester £655.00 £670.00 -£15.00 |
|
| Subtotal - Events £15,241.59 £10,321.78 £4,919.81 |
|
| SALES | |
| Mothers Day £1,743.97 £907.26 £836.71 Fathers Day £1,671.98 £831.31 £840.67 Someone Loved £1,274.09 £716.76 £557.33 Pre Loved £874.38 £0.00 £874.38 Happy Bags £710.80 £0.00 £710.80 Christmas Cards £712.44 £0.00 £712.44 Adventure Island £526.50 £20.00 £506.50 Sports Day £451.70 £0.00 £451.70 Little Book of Towers £288.46 £0.00 £288.46 Reindeer Food £217.00 £65.38 £151.62 Colour Sale £138.50 £296.23 -£157.73 Sea Life Tickets £127.50 £0.00 £127.50 Carols £124.00 £0.00 £124.00 |
|
| Subtotal - Sales £8,861.32 £2,836.94 £6,024.38 |
|
| PASSIVE INCOME / 'NO COST' FUNDRAISERS | |
| Tuck Shop £1,709.92 £0.00 £1,709.92 Bunny Hop £1,605.16 £0.00 £1,605.16 Lottery £928.73 £0.00 £928.73 Break the Rules £680.86 £0.00 £680.86 Money Train 2024 £626.62 £0.00 £626.62 Donation £473.35 £0.00 £473.35 Easy Fundraising £197.86 £0.00 £197.86 Krispy Kreme Sale £4.50 £0.00 £4.50 |
|
| Subtotal - Passive Income £6,227.00 £0.00 £6,227.00 |
|
| 3. Expenses Expenses Net XERO -£ 356.40 |
|
| Expenses | Net |
| XERO | -£ 356.40 |
Friends of Towers Fundraising Association
| Parent Kind | -£ 162.00 |
|---|---|
| Bank charges | -£ 67.77 |
| TOTAL | -£ 586.17 |
| 4. Donatons to Towers Schools |
4. Donatons to Towers Schools |
4. Donatons to Towers Schools |
|---|---|---|
Item Description |
Purpose | Amount(£) |
| SpringGifts(combined) | End of SpringTermgift | £498.59 |
| BigPlant Out Equipment | Gardening& outdoor learningresources | £1,556.19 |
| Class Donation(£100 x 22 classes) | Classroom supplies & resources | £2,200.00 |
| Reindeer Surprise(Dec 2024) | Christmas activityforpupils | £860.00 |
| Infants Phonics Books | Reading& literacyresources | £688.35 |
| Interactive Whiteboard x 1 | Classroom technologyupgrade | £2,350.00 |
| Yr 6 Leavers Gift | End ofyeargifts for Year 6pupils | £314.58 |
| Trampolines | Playground equipment | £33.32 |
| Sports DayEquipment | PE & sports resources | £195.92 |
| Reception New Starter Books | Welcome books for newpupils | £420.38 |
| PlaySand | EYFS outdoorplayresources | £78.95 |
| OPAL Equipment | Outdoor Play& Learning programme | £465.45 |
| CGP SPAG Books(50% contribution) | Grammar &punctuation workbooks | £739.20 |
| ELS ActivityBooks | Educational activityresources | £1,175.80 |
| End of Summer Term Mascots | Reward mascots forpupils | £310.00 |
| TOTAL SCHOOL DONATIONS | £11,886.73 |
Independent Review of Accounts
Friends of Towers Fundraising Association (FOTFA)
Charity No. 1037283
Financial Year: 1 September 2024 – 31 August 2025
Executive Summary
An independent review has been completed of the Friends of Towers Fundraising Association (FOTFA) accounts for the year ended 31 August 2025.
The review included examination of the accounting records, bank statements, supporting invoices and receipts, fundraising event summaries and payment reports provided by the Treasurer.
Based on the work performed, nothing came to my attention that causes me to believe the accounts are materially misstated.
Financial Summary
| Description | Amount |
|---|---|
| Total Income | £30,329.91 |
| Total Expenditure | £25,631.62 |
| Net Surplus | £4,698.29 |
The charity generated a surplus of £4,698.29 during the financial year, increasing available funds for future charitable activities.
Scope of the Review
The review included examination of the following documentation:
✓ Annual accounts and supporting schedules
-
✓ HSBC bank statements
-
✓ Stripe payout reports
-
✓ Event income and expenditure summaries
-
✓ Sample invoices and receipts
-
✓ School invoices supporting donations and purchases
-
✓ Reimbursement evidence where applicable
This review was carried out using enquiry, analytical review and sample testing. It was not conducted as a statutory audit and therefore no audit opinion is expressed.
Review Findings
Fundraising Activities
Detailed event summaries were available for a number of fundraising activities including:
-
Summer Fete
-
Bunny Hop
-
Mother’s Day
-
Father’s Day
-
Christmas activities
-
Other PTA fundraising initiatives
These summaries, together with the supporting Stripe payout reports and bank
statements, enabled a clear review of the majority of significant fundraising income and expenditure.
Significant Transactions Reviewed
A sample of significant expenditure was examined and traced to supporting invoices or receipts.
This included:
-
Big Plant Out project
-
Ellis Leisure (Summer Fete inflatables)
-
Summer Fete bar purchases
-
Theatre ticket purchases
-
Interactive classroom screens
-
Classroom resources
-
Educational books
-
OPAL equipment
-
Reception starter books
-
Year 6 leavers’ gifts
The transactions reviewed agreed with the supporting documentation and corresponding bank payments.
Accounting Records
Opening and closing bank balances agreed to the bank statements.
The documentation provided for this examination enabled a clear reconciliation of the majority of significant fundraising income and expenditure and provided an appropriate audit trail for the sample of transactions reviewed.
No other matters came to my attention during the review that would indicate the accounting records are materially inaccurate.
Independent Review Conclusion
As the charity’s trustees are responsible for preparing the accounts in accordance with the Charities Act 2011, my responsibility was to carry out an independent review of the records made available.
Based upon the examination performed, nothing came to my attention that causes me to believe that:
-
the accounting records were not adequately maintained;
-
the accounts do not accord with those records; or
-
the accounts are materially misstated.
Accordingly, the accounts appear to provide a fair summary of the charity’s receipts and payments for the year ended 31 August 2025.
Recommendations
| Recommendations | |
|---|---|
| Recommendation | Status |
| Continue preparing event income and expenditure | Good practice |
| summaries | |
| Continue retaining invoices and receipts supporting | Good practice |
| significant expenditure | |
| Continue retaining Stripe and SumUp reports alongside | Good practice |
| event reconciliations | |
| Continue using clear transaction descriptions to maintain | Good practice |
| the audit trail |
Independent Reviewer
Name: Charndeep Sanghera Signature: C.S.Sanghera Date: 26/06/2026