2021-03-31-accounts

TRUSTEES ANNUAL REPORT 2020-2021

STRANDS CHARITY

Sidestrand Hall School, Sidestrand, Cromer, Norfolk NR27 0NH

Charity No. 1043486

The object of the Charity is to raise funds to increase opportunities and enhance the education of the pupils at Sidestrand Hall School, either individually or as a group. It is not for day to day running expenses.

In furtherance of this object, the Charity may:

• Undertake fundraising

• Develop more extended relationships between the staff, governors, parents and others associated with the school.

• Engage in activities which support the school and advance the education of the pupils attending it.

• Provide and assist in the provision of facilities for education and recreation at the school (not normally provided by the Local Education Authority)

Current Trustees are:

Mrs Sarah Young Mr Steve Hoskins Revd Roger Billings Mrs Wendy Forster Mrs Vivienne Harrington Mrs Jo Callender Ms Shelley Taylor

During this financial year, we have received a donation from:

• Shell Leman Alpha offshore (via a grandparent) £450

Charity Shop:

• The shop is staffed by volunteers under the supervision of Sheila Neale our shop manager. Sheila’s contracted hours were increased from 18/week to 25 per week. Due to national lockdowns the shop was only open for 17 weeks between 1.4.20 and 31.3.21. The shop re-opened after Covid lockdown #3 on 12.4.21. Many volunteers are CEV/CV and

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are not yet returning to the shop making staffing the shop more challenging.

• Shop sales totalled £14810 plus £359.36 being raised through rag sales. Covid grants amounted to £19907.43. Running expenses of £18908 less rates refund for FY 19-20 of £231.84 and furlough claims of £1580.49 this year result in a net profit of £17981

• We have paid rent of £500/month for the shop since it opened. The landlord has renewed the lease for a further 3 years and will maintain the rent at £500/month for the lease period..

Funds were also raised during the year from:

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 Amazon Smile commission £141.59
 Bank interest £205.94
Total £347.53
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We have given grants for the following:

• TV for residential £322.71

• TV/DVD player for Clement Lodge £149.99

Total £472.70

The final payment of £22316.46 has been transferred for the library bus grant

Reserves:

Reserves available for allocation are £108k. However, we have nominally set a reserves policy at £17k giving an available balance for allocation as £91054.

1.11.21

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Sidestr8nd Hall School 6. Balance Sheet, Detailed Findings, Audit Views, Recommendations. Balance Sheet as al 31° March 2021. Accumulated School Fund Brought Forwar¢Y As al 1° April 2020 £112,064.91 Excess of Payments over Receipts £ 4,010.59 Accumulated School Fund Carried Forward As at 31° March 2021 £108,054.32 Represented by= Bank Current Account Bank Holding Account £ 11,312.95 £ 97,466.70 Less.. Unpresenled Cheques 022118 022119 61.08 664.25 £108,054.32 Signed ILaJ. Ila Auditor Dale .0910912021..... Finance and Business Services Team Signed Fund Treasurer Date .41.iO.IZ.I....... The school fund audit report has been discussed at the governing body meeting on .JWiJ.111......................... and an action plan has been agreed to ensure all weaknesses are being addressed. Approved by governing body Signed Date . ..a.4liilzJ........ (Chair of Governors) Educator Solullons Finan¢e and Business S8rvices Team Page6of7

Sidestrand Hall School

CONFIDENTIAL

Finance and Business Services Team

Report on the financial control of the School Fund Account at Sidestrand Hall School.

1[st] April 2020 – 31[st] March 2021

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Sidestrand Hall School

Report Contents:

1. Introduction and Background 2. Objectives and Scope 3. Financial Regulations 4. Summary and Conclusions 5. Audit Opinion 6. Balance Sheet, Detailed Findings, Audit Views, Recommendations, Receipts and Payments.

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Sidestrand Hall School

1. Introduction and Background

• 1.1. An audit of Sidestrand Hall School’s School Fund Account was carried out on 1[st] September 2021. The audit was carried out as defined in the Finance and Business Services Team Finance Procedure Manual.

• 1.2. At the time of the audit the Star Accounts software package was in use at the school to record the financial transactions.

2. Objectives and Scope 2.1 The audit objectives have been to:  Ensure that the school fund has been used to promote the education of pupils by providing educational and recreational facilities over and above those provided from LA funding.

Give the Headteacher and Governing body assurance that sound financial controls exist.

Ensure compliance with Norfolk’s Scheme for Financing Schools (incorporating Financial Regulations) and the Finance and Business Services Team Finance Procedure Manual.

Assess the effectiveness of overall financial controls including those for the prevention and detection of fraud and corruption.

Ensure the accounts have been kept correctly.  Provide the Headteacher and Governing Body with advice, where appropriate, on financial controls.

Ensure that where exceptions occur they are identified, reported and actioned.

2.2. The scope of the audit includes an examination of the following areas:  Income and expenditure vouchers  Bank reconciliations  Paying in books and cheque books  Cashbooks (Manual or data file transaction reports)

Bank Statements

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2.3. The work has concentrated on assessing the adequacy and effectiveness of - financial control by measuring the systems in operation against control objectives. This has included detailed checking of records as appropriate. The level of risk resulting from any control weakness identified has been reviewed and recommendations have been made to reduce the risk to an acceptable level.

• 2.4. The audit process seeks to reduce the risk to an acceptable level based on the efficient, economic and effective application of financial controls. Changes to controls suggested in audit recommendations are intended to achieve these benefits. This process reduces but does not wholly eliminate risk. It is the responsibility of the

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Sidestrand Hall School

Governing Body to safeguard the assets of the school and hence to take reasonable steps for the prevention and detection of fraud and other irregularities.

3. Financial Regulations

• 3.1. The audited accounts, as approved by the governing body, should form a part of the minutes of the governing body meeting, which are available for inspection by staff, parents and other interested parties.

• 3.2. Schools must provide audit certificates (agreed by the governing body) to the Authority within three months of the financial year ending in respect of any voluntary and private funds they hold and of the accounts of any trading organisations controlled by the school. It is the responsibility of the governing body to determine, and comply with, any legal requirements in connection with the audit of such funds, e.g. Charity Commission requirements.

• 4. Summary and Conclusions 4.1. As a result of considering the information received and the results of tests carried out we are pleased to report that, at the time of the audit, there are effective controls and no weaknesses were found in the following areas of cashbook, income and expenditure vouchers, bank reconciliations, bank statements, paying in books and cheque books.

• 4.2. In addition, the following points need to be discussed and addressed:  The invoice rubber stamp will be fully completed on all invoices.

• All cash and cheques will be banked within seven days of receipt. – The paying in slip numbers should also be recorded on the weekly banking sheets to ensure the cash and cheques banked can be easily traced.

• Invoices should not be manually adjusted – Invoices from the School to the School Fund should be raised via STAR, with a copy of original invoices attached, for transactions that do not have invoices (salaries, purchasing card, etc.) a transaction list/report or print out from STAR of the transaction is acceptable.

• 4.3. The report has been completed on an exception basis, only those areas with control weaknesses have been reported upon in detail.

• 4.4. The detailed findings, views and recommendations from the audit requiring an action plan are shown in section six of this report.

• 5. Audit Opinion 5.1. We are required to give an overall opinion in each audit report based on the risk identified to the establishment, which exists within the controls that we examined at the time of the audit.

• 5.2. For the avoidance of doubt our opinion is based on a view of internal financial controls. The opinion does not make a judgement on the efficiency or value for money aspects of the school, which, in Ofsted terms, are based on educational standards and the quality of education provided relative to the funding provided.

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Sidestrand Hall School

5.3. Our overall audit opinion is based on two grades which are explained in the table below:

Opinion Assessment of internal Control Acceptable Few or no weaknesses, mostly insignificant. Issues that need to be A number of weaknesses, mostly significant or addressed more major weaknesses. 5.4. Our opinion, based on the evidence we have seen as part of this audit, is that internal controls at Sidestrand Hall School are acceptable. 5.5. The school need to review the weaknesses detailed in section six and put together an action plan to ensure that all weaknesses are addressed within the next financial year. 5.6. Please return a copy of section six of this report with the completed action plan to Finance and Business Services Team once the governors have discussed and approved the findings at a governors meeting. ss Educator Solutions Finance and Business Services Team Page 5 of 7

Sidestrand Hall School

6. Balance Sheet, Detailed Findings, Audit Views, Recommendations.

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6.1 Balance Sheet as at 31 [st] March 2021.
Accumulated School Fund Brought Forward
As at 1 [st] April 2020 £112,064.91
Excess of Payments over Receipts £ 4,010.59
Accumulated School Fund Carried Forward
As at 31 [st] March 2021 £108,054.32
Represented by:
Bank Current Account £ 11,312.95
Bank Holding Account £ 97,466.70
Less: Unpresented Cheques 022118 £ 61.08
022119 £ 664.25
£108,054.32
Signed …………………………………………….. Auditor
Date ………………………
Finance and Business Services Team
Signed …………………………………………… Fund Treasurer
Date …………………………
The school fund audit report has been discussed at the governing body meeting on
……………………………………... and an action plan has been agreed to ensure all
weaknesses are being addressed.
Approved by governing body …………………………….. Signed
Date …………………… (Chair of Governors)
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Sidestrand Hall School

6.2 Detailed Findings, Audit View and Recommendations.

**Findings **	Audit View	Recommendations	Action Plan/by whom
Discussion Points Invoice rubber stamp. The rubber stamp used when checking and authorising invoices is not always completed fully. Manually Adjusted Invoices. Invoices have been manually adjusted by the school. When the School Fund is paying/reimbursing Sidestrand Hall School an invoice should be raised via the schools accounting system and paid by the School Fund, instead of manually written invoices.	Invoices need to be checked to ensure that they contain the correct information so that the school pay their suppliers the right amounts due. Invoices need to be checked to ensure that they contain the correct information so that the school pay their suppliers the right amounts due.	The Headteacher should ensure that all the correct checks are completed by the Finance Officer before authorising payments. Invoices must be paid as presented. If there is an error on the invoice a corrected invoice or a credit/debit note must be obtained.	rubber stamp will be used on all invoices. The only invoices we process are those to SHS and backing documentation is always included. No longer applicable as all invoices raised to school fund from school are done by using STAR Accounts receivable invoicing and have been done like this for some months

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