FRIENDS OF ST MARY'S SCHOOL
ANNUAL REPORT AND ACCOUNTS
YEAR TO 31 MARCH 2024
CONTENTS:
ANNUAL REPORT
2/3
INDEPENDENT EXAMINER'S REPORT
RECEIPTS AND PAYMENTS ACCOUNT
STATEMENT OF ASSETS AND LIABILITIES

Annual Re
for the
earto31M
024
The Friends of St. Mary's School, St. Mary's Catholic School, Windhill, Bishop's Stortford,
Hertfordshire, CM23 2NQ, is registered with the Charity Commissioners No. 1050230 and
constituted by Deed of Trust.
The Charity is administered by a Management Committee comprising:
Trustee
Chairman/Trustee
Secretary/ Trustee
Secretary/ Trustee
Trustee
Trustee
Mr. D. Wojcik
Mr. P, Carroll
Mr T. Johnston (Resigned)
Mr J McHugh (Appointed)
Mrs, K. Cockerton
Ms C Saunders (Appointed)
The Management Committee shall consist of not less than 4 nor more than 10 persons of
which, excluding the Chairman (if any) of the Committee, not less than half the members
of the Committee are, or have been, members of the Board of Governors of St. Mary's
Catholic School or appointed by the said Board of Governors, or who are or have been
staff or pupils of St. Mary's Catholic School.
The Committee may elect any member of the Friends of st. Mary's Association to be a
member OF the Committee to fill any vacancy to hold office until the conclusion of the
Annual General Meeting then next following.
The object of the Charity is to advance the education of the pupils of St. Mary's Catholic
School, Bishop's Stortford, Hertfordshire, and particularly to raise Capital Funding for the
provision of new buildings or improvement to existing buildings. It has initially done this
by providing parents and other friends of St. Mary's with the opportunity to make
donations, under GiftAid where appropriate, which are used to support loan repayments
for the School's new buildings. In recent years this has enabled the following projects to
be completed..-
New Sixth-Form Centre
Performing Arts Centre
New Library, Science Laboratory and 4-Court Sports Centre
Classroom Bloc1<
Science Department Major Redevelopment
1998
2003
2005
2011
2018
Since 1998 the Trustees, in conjunction with the Board of Governors, have successfully
negotiated a series of interest-free loans in the name of the School from the Diocese of
Westminster, the most recent in 2010 being a 5-year loan in the amount of £150,000, to
assist with a new classroom block. This loan has been fully repaid, the final payment to
the Diocese in the amount of £15,000 having been made in the year to 31 March 2017. It
is the intention of the Trustees to support the school's long term building plans by
directing regular parental donations and any other capital donation that the Charity is
able to obtain, toward scheduled repayments of future loans that may be negotiated with
the Diocese, and also to outright gifts to the school.
100 % of parental donations pledged prior to July 2014 are directed to Capital Funding as
described above. In July 2014 and subsequently, parents have been informed of the
Charity's intention that approximately 75 % of their newly pledged donations to the
Charity shall be directed to Capital Funding,. and thatthe remainder (approximately 25 % )

of their newly pledged donations shall be directed to School Activity Support to assist
with day-to-day expenses that the school's state-Funded budget do not address, such as
for the chapel, retreats and various sports, music and drama enhancements for pupils.
Total funds raised in the financial year under report were £51,841 [2023 - £54,141), of
which all arose from Parental Donations. Gift Aid Tax Refunds received in this financial
year were £11,173.25 [2023 - £21,061.03).
Investment
ic
The Trustees have the power to invest in such assets as they see fit. The Policy is to
preserve the real value of the investment assets and as a secondary consideration to earn
interest income from investment in inherently low risk instruments,
For the time being the requiremerAt of the Trustees is for investment of funds to be
restricted to mainstream Bank of England authorised deposit-taking institutions. The
day-to-day management OF deposit funds rests with the Treasurer of the Charity under
the direction of the Trustees.
Rese
Polic
The Trustees have undertaken a thorough assessment of the needs of the Charity in
relation to Reserves.
The income of the Charity is dependent on the generosity of individuals and the business
sector. The ability of the Charity to support its objectives is based on the success of the
Trustees in raising such donations.
The income of the Charity is for the purpose of providing CapitaE for new buildings and
major building and sport field capital improvements for St. Mary's Catholic School,
Bishop's Stortford and also assistance to the School with non-state-funded day-to-day
expenses For the benefit of pupils (referred to above as "School ActÉvity Supporf,).
The Charity does not have any employees and incidental expenditure is minim31. This
positiotA is likely to continue for the foreseeable future.
The Trustees therefore regard all fvnds within the Charity from time to time to be held in
its unrestricted funds as a Reserve, forthe sole benefit of St. Mary's Catholic School capital
projects and School Activity Support referred to above, to be distributed at the sole
discretion of the Trustees.
Risk
na
emen
The Trustees exatnine the major risks thatthe Charity faces on a regularbasis andbelieve
that maintaining the assets of the Charity as described above (see "Reserves Policy" and
"Investment Policy") will provide sufficiently to reduce rislcto an absolute min1￿Um.
For and o
half of the Trustees
Chairma
Dated..
171IL/£F

Independent Examlnevs Report to the Trnstees of Friends of St. Marfs School
Charitable Trust
I report on the accounts of the Trust for the year ended 31 March 2024 that are set out
above.
Respective Responslblllties of Trustees and Examiner
As the Trustees of the Charity, you are responsible for the preparation of the accounts,
you consider that the audit requirement of section 43(2) of the Charities Act 1993 ('the
Act") does not apply. It is my responsibility to examine the accounts (under Section 43{3)
Ca) if the 1993 Act) and to state, on the basis of procedures specified in the General
Directions given by the Charity Commissioners under Section 43(7] (b) of the Ac¢
whether particular matters have come to my attention.
Basis of Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the
Charity Commissioners. An examination includes a review of the accounting records kept
by the Charity and a comparison with the accounts presented WAth those records. It also
includes consideration of any unusual items or dlsclosures in the accounts, and seeking
explanations from you as Trustees, concerning such matters. The procedures undertaken
do not provide all the evidence that would be required in an audit, and consequently I do
not express an audit opinion on the view given by the accounts.
Independent Examiner's Statement
In connection with my examination. no matter has come to my attention..
l. that gives me reasonable cause to believe that in any materiat respect the requirements
To keep accounting records in accordance with Section 41 of the Act; and
to prepare accounts which accord with the accounting records and to comply
with the accounting requirements of the Act
have not been met: or
2, to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Christopher Brolly
Independent Examiner
5 Mill Croft
Bishop's Stortford
CM23 2BP
Date:
31 Tr&/ 2é2+

RECEIPTS AND PAYMENTS ACCOUNT
YEAR TO 31 MARCH 2024
2024
2023
Income Receipts
Parental DonatiOllS'.
Monthly Standlng Orders
East Herts Lottery
ATnazon Donations
School Charity Events
51,841.00
428.00
16.97
54,141.00
112.50
283.45
21,061,03
NS1
Gift Aid
Interest
11,173.25
Total Incorne Recelpts
63,459.22
75,597.98
Payments
Dlrect Charitable Expenditure
Banli Charges
Refunds of Parent Payments
Loan Repayments to DiDce5e ofwestminster
Donations to School Activity Support
Donation to School Building Fund
Nil
Nil
[30.00)
(10.00)
Nil
(5,118.00)
(87,500.OOJ
(52,500.00)
Total Payments
(52,510.OOJ
(92,648,00)
Net Income/Payments
10,949.22
(17,050.02)
Bank Balances Brought Forward
At l April 2023
At l Aprll 202Z
78,724.75
95,774.77
Bank Balances Carried Forward
At31 March 2024
At 31 March 2023
89,673.97
78,724.75
STATEMENT OF ASSETS AND LIABILITIES
AT 31 MARCH 2024
At 31 March 2024 At 31 March 2023
Assets
Co-op Bank Current Account
HSBC BankCommunltyAccount
89,675.97
Nll
78,724.75
Total Assets
89,673.97
78,724.75
Liabilities
Nil
Net Assets
89,673.97
78,724.75
For and on behalf of the Trustees
Honorary Treasurer
Dated: /2
IL