2021-12-31-accounts - Ilford County High School Oakfield Trust

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REGISTERED COMPANY NUMBER: 03017248 (England and Wales)
REGISTERED CHARITY NUMBER: 1044454

Report of the Trustees and

Financial Statements for the Year Ended 31 December 2021

for
The Ilford County High School Oakfield
Trust

Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

The Ilford County High School Oakfield
Trust

Contents of the Financial Statements
for the Year Ended 31 December 2021

	`Page`
`Report of the Trustees`	`1 to 3`
`Independent Examiner's Report`	`4`
`Statement of Financial Activities`	`5`
`Balance Sheet`	`6`
`Notes to the Financial Statements`	`7 to 11`
`Detailed Statement of Financial Activities`	`12`

The Ilford County High School Oakfield
Trust

for the Year Ended 31 December 2021

`Report of the Trustees`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2021.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Theobjectivesofthecharityaretheadvancementoftheeducationofthepublicandinparticular,butnotsoas to
limit the generalityof the foregoing,the provisionof playingfieldsand recreationalfacilitiesfor the pupilsand former
pupils of  the Ilford County High School for Boys.

Insettingourobjectivesandplanningouractivitiesthetrusteeshavegivencarefulconsiderationtothe Charity
Commissiongeneralguidanceonpublicbenefitandinparticulartoitssupplementarypublicbenefitguidance on
advancing education and facilities for sport and re-creation.

`Significant activities`

The main activityis the provisionof playingfieldsfor the use of localcricketand footballclubs.Currentlya number of
such clubs and a local schooluse the groundsthroughouteach week, thus givinghundredsof peopleof all age groups
theopportunityof playingtheirsporton goodqualitygrasssurfaces.Thecharityalsoprovidesfinancialassistance to
projects falling within its objectives.

`Volunteers`

Volunteers played no part in achieving the charity's objectives.

`ACHIEVEMENT AND PERFORMANCE`

`Charitable activities`

Duringtheyearthecompanyreceivedgrantstotalling£28,993fromthegovernmenttohelpmitigatethe adverse
impactcausedbytheCovid-19pandemic.ICHSOTsubsequentlygranted£28,993totheOldParkonians Association
which,underoperationalagreements,managesthepavilionandplayingfields(withalltheirassociatedcosts) on
behalf of ICHSOT.

`Internal and external factors`

The charityis dependentuponthe generosityof the publicand the formerpupilsof the IlfordCountyHighSchool for
its income.

`FINANCIAL REVIEW`

`Principal funding sources`

The funding of the charity is largely by means of donations received.

`Reserves policy`

Anyexcessofincomeoverexpenditureisaddedtotheexistingreserves,whichotherthanforday-to-day running
expenses,isonlyavailablefortheacquisitionorcreationofcapitalassets,providedthedonorstipulatesitgoes into
the restricted fund.

`FUTURE PLANS`

There are none planned over normal activities.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

Page 1

The Ilford County High School Oakfield
Trust

for the Year Ended 31 December 2021

`Report of the Trustees`

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Recruitment and appointment of new trustees`

TheBoardoftrusteesisa self-appointingbody.Newtrusteesareappointedifthenumberoftrusteesfallbelow the
minimumrequiredundertheArticlesofAssociation.Underthesecircumstancesexistingtrusteeswillbeinvited to
nominate trustees prior to the AGM advising members at the AGM of the retiring trustees.

`Organisational structure`

TheBoardoftrusteesisresponsibleforensuringthatthecurrentlegislationandrulesofthecharityare complied
with.

`Wider network`

It is a very small charity and is not part of any network.

`Related parties`

Duringtheyearnotrusteesorotherpersonrelatedtothecharityhadanypersonalinterestinanycontract or
transaction entered in to by the charity.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

03017248 (England and Wales)

`Registered Charity number`

`Registered office`

96 Queenborough Gardens
Ilford
Essex
IG2 6YB

`Trustees`

T Barton
J Baxter
E Lennard
A MacKenzie
A J Money
C Nutt
J Rogers
D Waters

`Independent Examiner`

Panayiota Viglas ACCA
Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

Page 2

The Ilford County High School Oakfield
Trust

`Report of the Trustees`

`for the Year Ended 31 December 2021`

........................................................................
A MacKenzie - Trustee

Page 3

`Independent Examiner's Report to the Trustees of The Ilford County High School Oakfield Trust`

`Independent examiner's report to the trustees of The Ilford County High School Oakfield Trust ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2021.

`Responsibilities and basis of report`

As the charity'strusteesof the Company(andalso its directorsfor the purposesof companylaw) you are responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe 2006
Actandareeligibleforindependentexamination,I reportin respectof my examinationof yourcharity'saccounts as
carriedoutundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Panayiota Viglas ACCA
Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Date: .............................................

Page 4

The Ilford County High School Oakfield
Trust

`Statement of Financial Activities`

`for the Year Ended 31 December 2021`

					`31.12.21`	`31.12.20`
		`Unrestricted`	`Restricted`		`Total`	`Total`
		`fund`	`funds`		`funds`	`funds`
	`Notes`	`£`	`£`		`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`		`29,878`		`-`	`29,878`	`27,739`
`Investment income`	`2`	`2`	`23`		`25`	`88`
`Total`		`29,880`	`23`		`29,903`	`27,827`
`EXPENDITURE ON`
`Charitable activities`
`Donations`		`28,993`		`-`	`28,993`	`25,000`
`Other`		`1,080`		`-`	`1,080`	`(436)`
`Total`		`30,073`		`-`	`30,073`	`24,564`
`NET INCOME/(EXPENDITURE)`		`(193)`	`23`		`(170)`	`3,263`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`4,591`	`47,759`		`52,350`	`49,087`
`TOTAL FUNDS CARRIED FORWARD`		`4,398`	`47,782`		`52,180`	`52,350`

The notes form part of these financial statements

Page 5

The Ilford County High School Oakfield
Trust

`Balance Sheet`

`31 December 2021`

					`31.12.21`	`31.12.20`
		`Unrestricted`	`Restricted`		`Total`	`Total`
		`fund`	`funds`		`funds`	`funds`
	`Notes`	`£`	`£`		`£`	`£`
`CURRENT ASSETS`
`Cash at bank`		`7,758`	`47,782`		`55,540`	`55,650`
`CREDITORS`
`Amounts falling due within one year`	`5`	`(3,360)`		`-`	`(3,360)`	`(3,300)`
`NET CURRENT ASSETS`		`4,398`	`47,782`		`52,180`	`52,350`
`TOTAL ASSETS LESS CURRENT LIABILITIES`		`4,398`	`47,782`		`52,180`	`52,350`
`NET ASSETS`		`4,398`	`47,782`		`52,180`	`52,350`
`FUNDS`	`6`
`Unrestricted funds`					`4,398`	`4,591`
`Restricted funds`					`47,782`	`47,759`
`TOTAL FUNDS`					`52,180`	`52,350`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006for the
year ended 31 December 2021.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Thesefinancialstatementshavebeenpreparedin accordancewiththe provisionsapplicableto charitable companies
subject to the small companies regime.

ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
............................................. and were signed on its behalf by:

.............................................
A MacKenzie - Trustee

The notes form part of these financial statements

Page 6

The Ilford County High School Oakfield
Trust

Notes to the Financial Statements
for the Year Ended 31 December 2021

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

The financialstatementsof the charitablecompany,whichis a publicbenefitentityunderFRS 102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland' and
the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

`Income`

All incomeis recognisedin the Statementof FinancialActivitiesoncethe charityhas entitlementto the funds,
it is probable that the income will be received and the amount can be measured reliably.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement
andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforon an accruals basis
and has beenclassifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be
directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesona basisconsistentwith the
use of resources.

`Allocation and apportionment of costs`

AllcostsareallocatedbetweentheexpenditurecategoriesoftheStatementofFinancialActivitieson basis
designedto reflecttheuseof theresource.Costsrelatingto a particularactivityareallocateddirectly, others
are allocated on a basis consistent with the use of resources.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

`2. INVESTMENT INCOME`

	`31.12.21`	`31.12.20`
	`£`	`£`
`Deposit account interest - restricted`	`23`	`86`
`Deposit account interest - unrestricted`	`2`	`2`
	`25`	`88`

continued...

Page 7

The Ilford County High School Oakfield
Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

`3. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2021norfor the
year ended 31 December 2020.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2021norfortheyear ended
31 December 2020.

`4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
27,739
-
Investment income
2
86
Total
27,741
86
EXPENDITURE ON
Charitable activities
Donations
25,000
-
Other
(436)
-
Total
24,564
-
NET INCOME
3,177
86
RECONCILIATION OF FUNDS
Total funds brought forward
1,414
47,673
TOTAL FUNDS CARRIED FORWARD
4,591
47,759 Total
funds
£
27,739
88
27,827
25,000
(436)
24,564
3,263
49,087
52,350

continued...

Page 8

The Ilford County High School Oakfield
Trust

Notes to the Financial Statements - continued

for the Year Ended 31 December 2021

`5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`5.`	`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
			`31.12.21`		`31.12.20`
				`£`	`£`
	`Accrued expenses`			`3,360`	`3,300`
`6.`	`MOVEMENT IN FUNDS`
				`Net`
			`movement`		`At`
		`At 1.1.21`	`in funds`		`31.12.21`
		`£`		`£`	`£`
	`Unrestricted funds`
	`General fund`	`4,591`		`(193)`	`4,398`
	`Restricted funds`
	`Capital assets fund`	`47,759`		`23`	`47,782`
	`TOTAL FUNDS`	`52,350`		`(170)`	`52,180`
	`Net movement in funds, included in the above are as follows:`
		`Incoming`	`Resources`		`Movement`
		`resources`	`expended`		`in funds`
		`£`		`£`	`£`
	`Unrestricted funds`
	`General fund`	`29,880`	`(30,073)`		`(193)`
	`Restricted funds`
	`Capital assets fund`	`23`		`-`	`23`
	`TOTAL FUNDS`	`29,903`	`(30,073)`		`(170)`
	`Comparatives for movement in funds`
				`Net`
			`movement`		`At`
		`At 1.1.20`	`in funds`		`31.12.20`
		`£`		`£`	`£`
	`Unrestricted funds`
	`General fund`	`1,414`		`3,177`	`4,591`
	`Restricted funds`
	`Capital assets fund`	`47,673`		`86`	`47,759`
	`TOTAL FUNDS`	`49,087`		`3,263`	`52,350`

continued...

Page 9

The Ilford County High School Oakfield
Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

`6. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`27,741`	`(24,564)`	`3,177`
`Restricted funds`
`Capital assets fund`	`86`	`-`	`86`
`TOTAL FUNDS`	`27,827`	`(24,564)`	`3,263`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1.1.20`	`in funds`	`31.12.21`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`1,414`	`2,984`	`4,398`
`Restricted funds`
`Capital assets fund`	`47,673`	`109`	`47,782`
`TOTAL FUNDS`	`49,087`	`3,093`	`52,180`

A currentyear12 monthsandprioryear12 monthscombinednetmovementin funds,includedin the above
are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`57,621`	`(54,637)`	`2,984`
`Restricted funds`
`Capital assets fund`	`109`	`-`	`109`
`TOTAL FUNDS`	`57,730`	`(54,637)`	`3,093`

TherestrictedfundcomprisestheoriginaldonationreceivedfromMrBenDaviesof £60,000and subsequent
restricteddonationsreceived(netofgrantsmadeinaccordancewiththeserestrictions),abatedby relevant
costs relating to capital assets. The use of this fund is restricted to the acquisition or creation of capital assets.

continued...

Page 10

The Ilford County High School Oakfield
Trust

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

`7. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2021.

Page 11

The Ilford County High School Oakfield
Trust

`Detailed Statement of Financial Activities for the Year Ended 31 December 2021`

`Detailed Statement of Financial Activities` `for the Year Ended 31 December 2021`
	`31.12.21`	`31.12.20`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Donations`	`885`	`2,739`
`Grants`	`28,993`	`25,000`
	`29,878`	`27,739`
`Investment income`
`Deposit account interest - restricted`	`23`	`86`
`Deposit account interest - unrestricted`	`2`	`2`
	`25`	`88`
`Total incoming resources`	`29,903`	`27,827`
`EXPENDITURE`
`Support costs`
`Management`
`Trustees liability insurance`	`281`	`271`
`Finance`
`Bank charges (net refund)`	`-`	`(1,226)`
`Other`
`Rates`	`426`	`219`
`Donations and grants`	`28,993`	`25,000`
	`29,419`	`25,219`
`Governance costs`
`Sundries`	`13`	`-`
`Accountancy fees`	`360`	`300`
	`373`	`300`
`Total resources expended`	`30,073`	`24,564`
`Net (expenditure)/income`	`(170)`	`3,263`

This page does not form part of the statutory financial statements

Page 12