## **SPALDING HIGH SCHOOL FUND**
**CHARITY NUMBER 1043903 STATEMENT OF ACCOUNTS**
**for the year ended**
**31 March 2021**
**SPALDING HIGH SCHOOL FUND STATEMENT OF ACCOUNTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **INDEX**
## Page
||1||Annual Report|
|---|---|---|---|
||2||Independent Examiners Report|
||3||Statement of Financial Activities|
||4||Balance Sheet|
|5|to|11|Notes to the Financial Statements|
**SPALDING HIGH SCHOOL FUND**
## **ANNUAL REPORT**
## **for the year ended 31 March 2021**
The Spalding High School Fund is a registered charity No. 1043903. Its address is Spalding High School, Stonegate, Spalding, Lincolnshire. PE11 2PJ.
The object of the charity is to advance the education of the students by providing and assisting in the provision of facilities for the education of the students at the school not normally provided. This should develop more rounded members of the public when the students leave school.
The Headmistress, the Chairman of the Governors and the Chairman of Finance shall be the Administrators of the Fund with the Schools Bursar acting in an executive capacity in the daily operation of the Fund.
The fund is governed by a constitution approved by the Administrators on 11 May 1999.
The following people were responsible for the management of this fund during the year ended 31 March 2021:
Mrs. M. Anderson Headmistress Dr. P. Gorton Chair of Governors Mrs. A. Toal Chair of the Finance Committee
Mrs C. Somers, who is the School Business Manager of Spalding High School, acted in an executive position on a day to day basis, until her retirement on 31 May 2021, she is succeeded by Mrs J. Kent.
The bankers are Lloyds, Hall Place, Spalding, Lincolnshire, PE11 1BD.
The Independent Examiner is K J Maggs, FCA of Moore Thompson, Bank House, Broad Street, Spalding, Lincs. PE11 1TB.
During the year under review, the students did various charitable collections and these were forwarded to the relevant charities on their behalf.
The Fund was able to underwrite various school trips during the year enabling the students to participate in various projects. The Duke of Edinburgh Award Scheme is also supported financially by this fund.
Purchases of various items, not funded by Local Education Authority, were also made by this Fund following the generosity of local people and parents who supported various social events organised by the Parent Teachers Association.
The Trustees consider that all of the above activities show that the fund operates in accordance with the Charity Commissions' general guidance on public benefit
The administrators are pleased with the support given by the staff, students and parents to the various events run during the year. This enables the Funds to finance various projects which benefit the school.
During the year the Spalding High School Parents and Staff Association (PTA) donated £507 (2020 - £6,839), the Headmistress is also a trustee of the PTA.
The Trustees are responsible for the management of risks faced by the fund. Risks are identified, assessed and controls established. The Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. All trips and activities are done through the school and underwritten only by the firm.
The Trustees do not believe that Covid-19 will have a major effect on the school fund as a whole, however due to the fact that lockdown continued throughout the whole of the reporting year and beyond there has been a significant reduction in the level of activities. Refunds for cancelled trips and events were processed quickly to reduce the financial impact of Covid-19 on parents and many trips and events planned for the year have now been postponed until after lockdown eases. This easement is forecast to take place in July 2021.
This report was approved by the Trustees on **5 October 2021**
Headmistress
**Mrs. M. Anderson**
Page 1
**INDEPENDENT EXAMINERS REPORT**
## **TO THE TRUSTEES OF**
## **SPALDING HIGH SCHOOL FUND**
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2021, which are set out on pages 3 to 11.
## **Responsibilities and basis of report**
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirement of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carrier out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
**K. J. Maggs F.C.A.,B.A.** Moore Thompson Chartered Accountants
Spalding
Dated: **11 October 2021**
Page 2
## **SPALDING HIGH SCHOOL FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**Unrestricted**
**Notes**
**Fund**
**£**
**Income from:**
Donations
2,846
Charitable activities
2
26,121
Investments
3
16
**Total income**
**28,983**
**Expenditure on:**
Charitable activities
4
31,071
**Total expenditure**
**31,071**
Gains / (losses) on investment assets
8
-
**Net expenditure**
(2,088)
**Transfers between funds**
14
883
**Net movement to funds**
(1,205)
**Reconciliation of funds:**
Fund balances brought forward
18,288
**Fund balances carried forward**
**17,083**|**Restricted**
**Funds**
**£**
1,599
542
1
**2,142**
(475)
**(475)**
43
2,660
(883)
1,777
8,989
**10,766**
**2021**|**Total**
**£**
4,445
26,663
17
**31,125**
30,596
**30,596**
43
572
-
572
27,277
**27,849**|**2020**
**Total**
**£**
9,528
308,937
54|
|---|---|---|---|
||||**318,519**|
||||317,293|
||||**317,293**|
||||(35)|
||||1,191
-|
||||1,191
26,086|
||||**27,277**|
The notes to the accounts set out on pages 5 to 11 form an integral part of these accounts
Page 3
## **SPALDING HIGH SCHOOL FUND**
## **BALANCE SHEET**
## **AT 31 MARCH 2021**
|**Notes**
**Investments**
8
**Current assets**
Stock
9
Debtors
10
Bank and cash balances
11
**Creditors**
Amounts falling due within one yea
12
**Net current assets**
**Income Funds**
Restricted Funds
14
Unrestricted Fund
15|**Unrestricted**
**Fund**
**£**
-
1,497
-
17,166
18,663
(1,580)
17,083
**17,083**
-
17,083
**17,083**|**Restricted**
**Funds**
**£**
366
-
-
51,872
51,872
(41,472)
10,400
**10,766**
10,766
-
**10,766**
**2021**|**Total**
**£**
366
1,497
-
69,038
70,535
(43,052)
27,483
**27,849**
10,766
17,083
**27,849**|**2020**
**Total**
**£**
323|
|---|---|---|---|---|
|||||1,023
150
83,156|
|||||84,329
(57,375)|
|||||26,954|
|||||**27,277**|
|||||8,989
18,323|
|||||**27,277**|
These statements were approved by the Trustees on **5 October 2021** and signed on their behalf by:
## **Mrs. M. Anderson**
Headmistress
## **Mr S Williams**
Chair of the Finance Committee
_The notes to the accounts set out on pages 5 to 11 form an integral part of these accounts_
Page 4
**SPALDING HIGH SCHOOL FUND**
**NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting policies**
The charity is an unincorporated charity registered in England and Wales with the Charity Commission with the registration number 1043903. The charity's registered address is Stonegate, Spalding, Lincolnshire, PE11 2PJ.
The principal accounting policies adopted in the preparation of the financial statements are set out below.
- **a)** The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 and the Charities Act 2011.
- **b)** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and f i d Cut off - The only estimation applied in these accounts regarding cut off is concerning accruals and prepayments where an estimation of the costs relating to the relevant period were applied when relating to a different period.
- **c)** All income is recognised in the statement of financial activities when the conditions for receipt have been met, the amount can be measured reliably and it is probable that the income will be received . Where a claim for repayment of income tax has or will be made, such income is grossed for the tax recoverable.
Donations and all other receipts from fundraising and events are reported gross and are accounted for on a receivable basis.
Investment income is accounted for in the period in which the charity is entitled to receipt.
- **d)** Expenditure is included in the statement of financial activities on an accruals basis and is allocated to a particular fund where the costs relate directly to that fund. Expenditure is categorised under the headings recorded in the statement of financial activities and has been allocated as detailed below:
Charitable activities include the costs of the activities defined by the charity's aims for the benefit of the persons sited in the charity objects.
Expenditure for the school and students includes the costs of the equipment and other items bought for the benefit of the school.
- **e)** Gifts in kind are brought into the accounts where there is either a reasonable estimate of their fair value to the funds or the amount which is actually realised. Where a value cannot be determined, or a reasonable estimate applied, the gift is not included in the statement of financial activities.
- **f)** Stocks are valued at the lower of cost or net realisable value.
- **g)** Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Page 5
**SPALDING HIGH SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **1. Accounting policies (continued)**
- **h)** Investments are the result of gifts made to the charity. The charity does not purchase investments. They are capitalised at the market value at time of receipt and recorded at fair value annually through the Statement of Financial Activities.
- **i)** Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of administering such funds are charged against the specific fund.
- **j)** Unrestricted funds are donations and other income received or generated for the objectives of the charity for use at the discretion of the Trustees in the furtherance of the general objects of the charity and which have not been designated for other purposes.
- **k)** Students will from time to time arrange to make a collection or raise funds for a particular charity. The money collected by the pupils is banked by this charity and then distributed to the relevant charity when all or a majority of the pupils' money has been received. Where a collection has commenced but has not been concluded the money collected and remaining to be distributed is deferred until the next accounting period.
Throughout the year various trips of a social and educational nature have been arranged. Where the students have been unable to finance these in full, the Unrestricted Funds have paid the shortfall. Income is deferred to the extent that the cost of a trip has not fallen due at the balance
- **l)** The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the next 12 months from authorising the financial
**2. Income on charitable activities**
|Sales
School Trips
Fund raising and events
Charitable Collections
**Investments**
Bank Interest|**Unrestricted**
**Fund**
**£**
27,103
-
(982)
-
26,121
**Unrestricted**
**Fund**
**£**
16
16|**Restricted**
**Funds**
**£**
1,028
(6,748)
4,307
1,955
542
**Restricted**
**Funds**
**£**
1
1
**2021**
**2021**|**Total**
**£**
28,131
(6,748)
3,325
1,955
26,663
**Total**
**£**
17
17|**2020**
**Total**
**£**
53,349
212,671
40,217
2,700|
|---|---|---|---|---|
|||||308,937|
|||||**2020**
**Total**
**£**
54|
|||||54|
**3. Investments**
Page 6
## **SPALDING HIGH SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **4. Expenditure on charitable activities**
|Cost of sales
School Trips
Charitable collections
Expenditure for school and students|**Unrestricted**
**Fund**
**£**
30,387
-
-
684
31,071|**Restricted**
**Funds**
**£**
891
(2,358)
1,955
(963)
(475)
**2021**|**Total**
**£**
31,278
(2,358)
1,955
(279)
30,596|**2020**
**Total**
**£**
51,975
212,313
2,700
50,305|
|---|---|---|---|---|
|||||317,293|
## **5. Charitable Collections**
|Agape
Children In Need
Macmillan Cancer Support
Other charities
Staff Room Christmas Greetings
Year 8 Fundraising|**2021**
**£**
-
789
-
412
110
644
1,955|**2020**
**£**
175
1,000
262
-
1,263|
|---|---|---|
|||2,700|
## **6. Expenditure for the school and the students**
The expenditure covers items of equipment needed by the school including computers and other types of equipment.
## **7. Trustees remuneration and expenses**
None of the Trustees received any remuneration or expenses during either the current year under review or the previous year.
## **8. Investments - Restricted funds**
Lloyds Banking Group Plc 6.475% non cumulative preference shares of £0.25 each - 330 shares
|Valuation
At 1 April 2020
Changes in market value
At 31 March 2021
The historical cost of the investment was £323.|**£**
323
43|
|---|---|
||366|
|||
Page 7
**SPALDING HIGH SCHOOL FUND**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **9. Stock**
|Stationery
Fair trade
**Debtors**
Prepayments and accrued income
**Bank and cash balances**
Bank current account
Prize fund account
Fitness and Leisure account
Cash on hand
**Creditors**
Amounts due to third parties
Balances between funds
Deferred incoming resources
Book deposits|-
-
17,096
-
-
70
17,166
1,580
-
-
-
1,580
**Unrestricted**
**Fund**
**Unrestricted**
**Fund**
**£**
**Unrestricted**
**Fund**
**£**
**£**|**Restricted**
**Funds**
**£**
-
-
**Restricted**
**Funds**
**£**
42,285
3,754
5,833
-
51,872
**Restricted**
**Funds**
**£**
10,159
-
18,052
13,261
41,472
**2021**
**2021**
**2021**|**2021**
**£**
1,293
204
1,497
**Total**
**£**
-
-
**Total**
**£**
59,381
3,754
5,833
70
69,038
**Total**
**£**
11,739
-
18,052
13,261
43,052|**2020**
**£**
819
204|
|---|---|---|---|---|
|||||1,023|
|||||**2020**
**Total**
**£**
150|
|||||150|
|||||**2020**
**Total**
**£**
73,579
3,693
5,815
69|
|||||83,156|
|||||**2020**
**Total**
**£**
14,610
-
29,642
13,123|
|||||57,375|
## **10. Debtors**
## **11. Bank and cash balances**
## **12. Creditors**
Page 8
## **SPALDING HIGH SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
|**13. **
**14. **|**Deferred incoming resources**
Balance at 1 April 2020
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2021
**Summary of Restricted Funds**
6th Form Green Committee
Defibrillator Fund
Drama Department
Gift for Excellence Scheme
Library Fund
Locker Fund
Music Department
Prize Fund
PTA Fund
Book Deposits
Charitable Collections
Duke of Edinburgh Awards
Staff Room
Summer Fair
Trips and Visits|**Trips**
**£**
29,051
(29,051)
18,023
18,023
**£**
154
153
576
413
8
3,675
468
2,542
1,000
8,989
-
-
-
-
-
-
8,989
**At 1st April**
**2020**|**Donations**
**£**
591
(591)
29
29
**£**
-
-
277
265
-
2,250
(378)
(281)
(399)
1,734
138
-
292
(152)
(88)
693
2,617
**Incoming /**
**(outgoing)**
**resources**
**2021**|**Total**
**£**
29,642
(29,642)
18,052
18,052
**£**
-
-
-
-
-
-
-
43
-
43
(138)
-
(292)
152
88
(693)
(840)
**Transfers /**
**investment**
**gains**|**2020**
**Total**
**£**
63,592
(63,592)
29,642|
|---|---|---|---|---|---|
||||||29,642|
||||||**£**
154
153
853
678
8
5,925
90
2,304
601
**At 31st**
**March 2021**|
||||||10,766
-
-
-
-
-
-|
||||||10,766|
Transfers out of restricted funds and into the General Funds are required to tie up monies spent by the General Fund on behalf the restricted fund.
Page 9
**SPALDING HIGH SCHOOL FUND**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **14. Summary of Restricted Funds (continued)**
|6th Form Green Committee
Defibrillator Fund
Drama Department
Fitness and Leisure Fund
Gift for Excellence Scheme
Library Fund
Locker Fund
Music Department
Prize Fund
PTA Fund
Book Deposits
Charitable Collections
Duke of Edinburgh Awards
Trips and Visits
Work Experience and Careers|-
-
-
-
-
-
-
-
366
-
-
-
-
-
-
366
**Investments**
**£**|**Current**
**assets**
**£**
154
153
853
5,833
678
8
5,925
90
1,938
601
13,261
29
4,096
18,026
227
51,872|**Liabilities**
**£**
-
-
-
(5,833)
-
-
-
-
-
-
(13,261)
(29)
(4,096)
(18,026)
(227)
(41,472)|**Net assets**
**£**
154
153
853
-
678
8
5,925
90
2,304
601
-
-
-
-
-|
|---|---|---|---|---|
|||||10,766|
Where a department has raised funds for that particular department the funds are kept separate as above. The different funds are named above. If a fund is used for the specific purpose but the required expenditure exceeds the monies available the deficit is funded by the General Fund.
Monies donated by the Parent Teacher Association are for expenditure agreed by the relevant association and therefore are considered to be restricted. Generally, the Parent Teacher Association will donate towards specific expenditure. If the required expenditure exceeds the funds available then the deficit is funded by the General Fund.
The Restricted Fund includes items which are expected by the Trustees, to be funded by the PTA, where there are insufficient funds received then the General Fund covers any deficit.
Memorial funds are established as restricted funds where specific spending requirements have been stipulated within the will or legacy. Any deficit on these funds will be funded out of Unrestricted Funds until sufficient resources are available to cover the relevant project.
Restricted funds described above as trips and visits, Summer Fair, Charitable collections, 6th Form Leaver's Ball and Christmas Party will usually result in a deficit rather than surplus. The pupils are not charged more than the expected expenditure for trips but on occasions this may happen and if the excess exceeds £1 per pupil then it is repaid. Excesses are also evident where in previous accounting periods General Funds have been used to cover deficits but the parents later make a payment for the trip then the funds are transferred back. Any surplus on the 6th Form Leaver's Ball or Summer Fair is made available to the 6th Form to spend. Otherwise, any surplus or deficit is transferred to/from the General Fund.
Page 10
**SPALDING HIGH SCHOOL FUND**
**NOTES TO THE FINANCIAL STATEMENTS (continued)**
## **FOR THE YEAR ENDED 31 MARCH 2021**
## **14. Summary of Restricted Funds (continued)**
The Duke of Edinburgh Awards fund is monies raised for the purpose of assisting pupils with the aforementioned award scheme, any deficit is funded by the Unrestricted funds.
The Summer Sports School fund has been redesignated as the Summer Holidays Activities Week fund. These have also been split on the basis of years. When one of the weeks falls within the accounting year, for example Summer 2020 falling within the 2021 accounting year end, this has been transferred to the annual funds category and the surplus or deficit transferred to or from the General Fund in the same manner as the other annual funds.
## **15. Unrestricted Fund**
During the year, funds have been raised for the general benefit of the school. It is the trustees opinion that funds raised for general purposes should be kept to a minimum in order to focus the charity on the specific needs of the school. The general funds are available for unexpected urgent requirements and administration of the fund.
## **16. Control**
No one trustee or group of trustees has a dominant control of the charity.
## **17. Related Parties**
Mrs. M. Anderson (Headmistress) is also a trustee of Spalding High School Parents and Staff Association (PTA). During the year the PTA donated £507 (2020 - £6,839) towards specific projects.
## **18. Statement of Financial Activities - Funds Comparative**
|**Income from**
Donations
Charitable activities
Investments
**Total income**
**Expenditure on**
Charitable activities
**Total expenditure**
Gains on investment assets
**Net expenditure**|**Unrestricted**
**Fund**
**£**
1,039
66,232
52
**67,323**
66,692
**66,692**
-
**631**|**Restricted**
**Funds**
**£**
8,489
242,705
2
**251,196**
250,601
**250,601**
(35)
**560**
**2020**|**Total**
**£**
9,528
308,937
54|
|---|---|---|---|
||||**318,519**|
||||317,293|
||||**317,293**|
||||(35)|
||||**1,191**|
Page 11