2022-08-31-accounts - Boston High School Fund

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BOSTON HIGH SCHOOL - SCHOOL FUND

ANNUAL ACCOUNTS

FOR THE YEAR ENDED

31 AUGUST 2022

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

INDEX
Contents	Page
General Information	1
Trustees report	2 - 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6
Notes to the financial statements	7 - 17

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

General Information

Registered Charity Number:	1051531
Trustees:	Mrs Jemma Curson
	Mr Andrew Fulbrook
	Mrs Lisa Smith
Registered Office:	Boston High School
	Spilsby Road
	Boston
	Lincolnshire
	PE21 9PF
Independent Examiner:	R E Barrett
	Duncan & Toplis Ltd
	Oxley House
	Lincoln Way
	Louth
	Lincolnshire
	LN11 0LS
Bankers:	Lloyds TSB
	PO Box 1000
	Andover
	BX1 1LT

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

Trustees Report

The trustees submit their annual report and financial statements for the year ended 31 August 2022.

The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, governance and management

The school fund is governed by a separate constitution to that of the school which was incepted on 27 November 1995 and updated on 19 July 1999. Its objects are to support the education of pupils at Boston High School by providing and assisting in the provision of facilities for the education of pupils not normally provided otherwise.

Trustees' responsibilities statement

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the school fund and of the incoming resources and application of resources of the school fund for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the school fund will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the school fund and enable them to ensure that the financial statements comply with the Charities Act, Accounts and Reports Regulations, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the school fund and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BOSTON HIGH SCHOOL FUND YEAR ENDED 31 AUGUST 2022 Public Beneflt The Trustees confirm that they have complied with the duty to have due regard to the Charity Commission's general guidance on public benefit, "Chorities ond Public Benefit. Achlevement5 and activities During the year under review. the charity has maintained its approach to supporting the educational. recreational and fundraising activities of Boston High School. Activities in the prior year were restricted due to the impact of covid-19. Flnanclal Revlew and Goln8 concem The trustees have considered the level of funds held and the e¥pected level of income and expenditure for a period of 12 months from the date of authorising these financial statements and in their opinion these are sufficient for the charity to be able to continue as a going concern. The reserves levels are tonsidered appropriate for the charity. All reserves are restrirted and a5 at 31 Avgust 2022 these amounted to £30.8011£2021: £47,764). None of the reserves were attributable to a Fixed Asset Reserve. The report was approved by the Trustees on: Mr Andrew Fulbrook Date

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

Independent Examiner's Report to the Trustees of Boston High School Fund

I report on the accounts of the school fund for the year ended 31 August 2022 which are set out on pages 5 to 17.

Responsibilities and basis of report

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

I report in respect of my examination of the charity’s accounts carried 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:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records

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.

Rachel Barrett FCCA

Oxley House Lincoln Way Louth Lincolnshire LN11 0LS

Date 14[th] June 2023

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total	Total
		Funds	Funds	2022	2021
	Note	£	£	£	£
INCOMING RESOURCES
Incoming resources from generated funds:
School trips, events and activities		-	73,009	73,009	11,327
Fundraising events	2	-	2,403	2,403	2,840
Investment income	3	-	4	4	1
TOTAL INCOMING RESOURCES		-	75,416	75,416	14,168
RESOURCES EXPENDED
Charitable Activities	4	-	89,459	89,459	15,069
Fundraising Costs	5	-	2,920	2,920	1,104
Governance Costs	6	-	-	-	-
TOTAL RESOURCES EXPENDED		-	92,379	92,379	16,173
NET INCOMING (OUTGOING) RESOURCES
FOR THE YEAR BEFORE TRANSFERS		-	(16,963)	(16,963)	(2,004)
Transfers between funds	13	-	-	-	-
NET OUTGOING RESOURCES FOR THE YEAR
AND NET MOVEMENT IN FUNDS		-	(16,963)	(16,963)	(2,004)
FUNDS BROUGHT FORWARD	13	-	47,764	47,764	49,768
FUNDS CARRIED FORWARD	13	-	30,801	30,801	47,764

All amounts derive from continuing activities.

All gains and losses recognised in the year are included above.

BOSTON HIGH SCHOOL FUND YEAR ENDED 31 AUGUST 2022 BALANCE SHEET Unrestricted Restricted Fund5 Funds Total 2022 Total 2021 Note CURREfrrr ASSETS Prepayments- amounts paid in advance for future activities io 51,000 51,000 Cash at Bank 78,199 78.199 51,563 129,199 129,199 51,563 CURRENT LIABILITIES Deferred income - amounts received in advance for future activities li {98.3981 198,398) 13,8001 NEf CURRENT ASSETS 30,801 30,801 47,764 FUNDS Unrestricted designated funds 13 Restricted funds 13 30.801 30,801 47,764 TOTAL FUNDS 30,801 30.801 47,764 The financial statements were approved by the Trustees on . 61h June 2023 MrAndrew Fulbrook Mrs Lisa Smith

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)' and the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The financial statements have been prepared under the historical cost convention.

(b) Fund accounting

Unrestricted general funds are those funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the school fund and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

The aim and use of each material fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the school fund for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

The main income and expenditure of the fund relates to the organisation of school trips, including foreign visits. Money is collected from the pupils and payments made to the relevant travel companies etc.

There are a number of trips that take place each year. Money is collected in advance from pupils prior to the visit taking place. This results in a timing difference (amounts received in advance) for accounts purposes. Under UK accounting rules and the charity SORP, this income is deferred into next year where it is matched against the related expenditure when the relevant trip takes place.

The same principle applies to payments made in advance of trips taking place (e.g. deposits). Such expenditure is prepaid into the forthcoming year where the trip is scheduled to take place beyond the current year end.

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

(c) Incoming resources

All incoming resources are included in the SOFA when the school fund is legally entitled to the income (e.g. when a trip or activity has occurred) and the amount can be quantified with reasonable accuracy.

Gifts in kind (including volunteer time) cannot be meaningfully quantified and are therefore excluded from the financial statements.

(d) Investment Income

On the grounds of practicality and materiality, investment income is accounted for in the period received.

(e) Resources expended

All expenditure is accounted for on an accruals basis (i.e. when the obligation to pay becomes unconditional, such as when a trip or event has occurred) and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Support costs are those costs incurred directly in support of expenditure on the objects of the school fund and include project management carried out at Headquarters.

Management and administration costs are those incurred in connection with administration of the school fund and compliance with constitutional and statutory requirements.

All costs include attributable VAT, which cannot be recovered.

(f) Taxation

No provision for taxation is included in the financial statements as the school fund is exempt from tax.

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

(g) Going concern

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 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

2. FUNDRAISING

Macmillan Cancer Non Uniform The Alzheimer's Society National Society for the Prevention of Cruelty to Children Royal Society for the Prevention of Cruelty to Animals Minds Other charities	2022 £ 105 1,788 128 128 128 128 - 2,403	2021 £ 1,131 443 252 61 364 372 217
		2,840

3. INVESTMENT INCOME

Bank interest 4. CHARTIABLE ACTIVITIES School trips, events and activities	2022 £ 4 2022 £ 89,459	2021 £ 1
		2021 £ 15,069

BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

5. FUNDRAISING COSTS

Macmillan Cancer Non Uniform The Alzheimer's Society National Society for the Prevention of Cruelty to Children Royal Society for the Prevention of Cruelty to Animals Minds Other charities	2022 £ 238 1,788 240 179 234 241 - 2,920	2021 £ 660 444 - - - - -
		1,104

6. GOVERNANCE COSTS

The management and administration of the school fund is dealt with by staff employed by Boston High School and much time is given voluntarily. No specific value can be attributed to the value of services so provided for the purposes of these financial statements.

7. TRUSTEES' REMUNERATION

The trustees neither received nor waived any emoluments during the year (2021: £Nil) and no amounts were reimbursed for expenses (2021: £Nil).

8. EMPLOYEES

As explained in note 6, the fund has no employees and thus no remuneration costs were incurred during the year.

9. CONTROLLING PARTY

The fund is controlled by the Trustees as a body. There is no single controlling party.

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

10. PREPAID EXPENSES

This relates to amounts paid in advance for trips and similar activities that are scheduled to take place after the year end.

Ski 22-23 Spain 22-23	2022 £ 36,000 15,000 51,000	2021 £ - -
		-

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

11. DEFERRED INCOME

Deferred income relates to monies received or raised in advance for trips or activities that are scheduled to take place after the year end.

Art kit 21-22 English 21-22 Hartington 21-22 Photography 21-22 Castleton 22-23 English 22-23 History 22-23 Ski 22-23 Spain 22-23	2022 2021 £ £ - 785 - 1,342 - 1,453 - 220 1,120 - 988 - 115 70,625 25,550
	98,398 3,800

12. RELATED PARTY

During the year, and in accordance with its role to provide support to the education of pupils at Boston High School, the School Fund paid £21,196 to the main school. This was to reimburse the school for expenses incurred in relation to School Fund activities such as trips and the provision of hoodies. Andrew Fulbrook and Lisa Smith are trustees of both the School Fund and Boston High School.

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

13. Funds

Unrestricted Funds General Interest Total Unrestricted Funds 2021ALZHEIMERS 2021C-RESEARCH 2021ENGLISH 2021MINDS 2021NEWARK 2021NSPCC 2021RSPCA 2122ALEVELFRENCH 2122ALEVELSPANISH 2122ART 2122ARTKIT 2122BATTLEFIELDS	Fund Deferred Deferred balance income income brought brought Income carried forward forward received forward £ £ £ £ - - - - - - - -	Total income relating to the year £ - -	Prepaid Prepaid expenses expenses brought Expenses relating to forward made future years £ £ £ - - - - - -	Total expenses relating to the year £ - -	Surplus (deficit) before transfers £ - -	Surplus (deficit) Fund Transfers for the balance between year after carried funds transfers forward £ £ £ - - - - - -
	- - - - 296 - 128 - 515 - 105 - (89) - - - 415 - 128 - 839 - 1,565 - 104 - 128 - 408 - 128 - - - 1,781 - - - 230 - - - 311 - - 785 302 - - - 15,178 -	- 128 105 - 128 1,565 128 128 1,781 230 311 1,087 15,178	- - - - 240 - - 238 - - - - - 241 - - 1,553 - - 179 - - 234 - - 1,722 - - - - - - - - - - - 14,724 -	- 240 238 - 241 1,553 179 234 1,722 - - - 14,724	- (113) (133) - (113) 12 (52) (106) 59 230 311 1,087 454	- - - (183) (296) - (381) (515) - 89 89 - (302) (415) - (851) (839) - (53) (104) - (302) (408) - (59) - - (230) - - (311) - - (1,087) - - (454) - -

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

Fund Deferred Deferred balance income income brought brought Income carried forward forward received forward £ £ £ £ 2122BOGGLE (827) - 4,085 - 2122CERN - - 5,860 - 2122CHRISTMAS - - 783 - 2122DOEBRONZE - - 1,128 - 2122DOE-EXP - - 1,255 - 2122DOEGOLD - - 31 - 2122DOESILVER - - 360 - 2122ENGLISH - 1,342 295 - 2122GCSEMFLBOOKS - - 347 - 2122GCSEPE - - 1,800 - 2122GCSEGREASE - - 5,058 - 2122GREENPOWER - - 1,000 - 2122HARTINGTON (1,859) 1,453 1,693 - 2122JEANS - - 485 - 2122LINCOLN - - 1,209 - 2122LOCKERS - - 349 - 2122NEWARK - - 1,144 - 2122NLINCOLN - - - - 2122NONUNIFORM - - 1,788 -	Total income relating to the year £ 4,085 5,860 783 1,128 1,255 31 360 1,637 347 1,800 5,058 1,000 3,145 485 1,209 349 1,144 - 1,788	Prepaid Prepaid expenses expenses brought Expenses relating to forward made future years £ £ £ - 162 - - 5,978 - - 775 - - - - - - - - - - - - - - - - - - - - 1,400 - - 4,854 - - - - - 1,473 - - 485 - - - - - - - - - - - - - - 1,788 -	Total expenses relating to the year £ 162 5,978 775 - - - - - - 1,400 4,854 - 1,473 485 - - - - 1,788	Surplus (deficit) before transfers £ 3,924 (118) 8 1,128 1,255 31 360 1,637 347 400 204 1,000 1,672 - 1,209 349 1,144 - -	Surplus (deficit) Fund Transfers for the balance between year after carried funds transfers forward £ £ £ (3,096) 827 - (121) (239) (239) (8) - - (1,128) - - (1,255) - - (31) - - (360) - - (1,637) - - (347) - - (400) - - (204) (0) (0) (1,000) - - 187 1,859 - - - - (1,209) - - (349) - - (1,144) - - - - - - - -

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

Fund Deferred Deferred balance income income brought brought Income carried forward forward received forward £ £ £ £ 2122OPAL (500) - 26,516 - 2122PHOTOGRAPHY - 220 - - 2122SCIENCE - - 1,795 - 2122SIXTHFORM - - 46 - 2122SKEGNESS - - 400 - 2122YR12LOCKERS - - 360 - 2122YR7LOCKER - - 620 - 2223ALEVELFRENCH - - - - 2223ALEVELSPANISH - - - - 2223ART - - - - 2223BOGGLE - - - - 2223CASTLETON - - 1,120 1,120 2223ENGLISH - - 988 988 2223GCSEMFLBOOKS - - - - 2223GREENPOWER - - - - 2223HISTORY - - 115 115 2223LOCKERS - - - - 2223MACBETH - - - - 2223MADEINDAGENHAM - - - -	Total income relating to the year £ 26,516 220 1,795 46 400 360 620 - - - - - - - - - - - -	Prepaid Prepaid expenses expenses brought Expenses relating to forward made future years £ £ £ - 25,088 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	Total expenses relating to the year £ 25,088 - - - - - - - - - - - - - - - - - -	Surplus (deficit) before transfers £ 1,428 220 1,795 46 400 360 620 - - - - - - - - - - - -	Surplus (deficit) Fund Transfers for the balance between year after carried funds transfers forward £ £ £ (928) 500 (0) (220) - - (1,795) - - (46) - - (400) - - (360) - - (620) - - - - - - - - 4 4 4 (660) (660) (660) (1,565) (1,565) (1,565) (1,858) (1,858) (1,858) - - - (829) (829) (829) (239) (239) (239) - - - (638) (638) (638) (500) (500) (500)

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

Fund Deferred Deferred balance income income brought brought Income carried forward forward received forward £ £ £ £ 2223SKI - - 70,625 70,625 2223SPAIN - - 25,550 25,550 2223YR12LOCKERS - - - - 2223YR7LOCKER - - - - 2223YR7WELLBEING - - - - ARTLIFE 93 - - - ARTQUAD 10 - - - BOOKS - - - - BURSARY - - - - BURSARY-TRI.. - - - - CHALLENGE 291 - - - COOKERY 432 - - - DOE 1,930 - 95 - EUROS (315) - - - F12223 - - 150 - FLOAT (753) - - - FLOAT2 - - - - GARDENING 141 - - - GOLF 118 - - -	Total income relating to the year £ - - - - - - - - - - - - 95 - 150 - - - -	Prepaid Prepaid expenses expenses brought Expenses relating to forward made future years £ £ £ - 36,000 (36,000) - 15,000 (15,000) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 1,468 - - - - - - - - - - - - - - - - - - -	Total expenses relating to the year £ - - - - - - - - - - - - 1,468 - - - - - -	Surplus (deficit) before transfers £ - - - - - - - - - - - - (1,373) - 150 - - - -	Surplus (deficit) Fund Transfers for the balance between year after carried funds transfers forward £ £ £ - - - - - - - - - - - - (1,911) (1,911) (1,911) - - 93 - - 10 12 12 12 - - - - - - - - 291 - - 432 1,363 (11) 1,919 (340) (340) (655) - 150 150 - - (753) - - - - - 141 - - 118

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BOSTON HIGH SCHOOL FUND

YEAR ENDED 31 AUGUST 2022

INTEREST LIBRARY LINCHIGHER LOCKERS MAINACCOUNT MERMAID MISC MUSIC MUTFIN POSTER PRODUCTION PUPILPREMIU.. SHOP SWISSFRANC.. VERICOOL WELFARE WELFARE FLOAT WELFARE-TRI.. Total Restricted Funds All Funds	Fund Deferred Deferred balance income income brought brought Income carried forward forward received forward £ £ £ £ 226 - 4 - - - - - 119 - - - 6,651 - 129 - 4,901 - 988 - 2,260 - - - 580 - 113 - 3,578 - - - 4,493 - - - 250 - - - 8,735 - - - - - (8,914) - 219 - - - (132) - - - - - 34 - 9,704 - 632 - (90) - - - 5,021 - - -	Total income relating to the year £ 4 - - 129 988 - 113 - - - - (8,914) - - 34 632 - -	Prepaid Prepaid expenses expenses brought Expenses relating to forward made future years £ £ £ - 0 - - - - - - - - 122 - - 26,875 - - - - - 2,568 - - - - - - - - - - - - - - (92) - - - - - - - - 213 - - 92 - - - - - - -	Total expenses relating to the year £ 0 - - 122 26,875 - 2,568 - - - - (92) - - 213 92 - -	Surplus (deficit) before transfers £ 4 - - 7 (25,887) - (2,455) - - - - (8,822) - - (180) 540 - -	Surplus (deficit) Fund Transfers for the balance between year after carried funds transfers forward £ £ £ - 4 230 - - - - - 119 795 802 7,453 20,305 (5,583) (682) - - 2,260 839 (1,616) (1,036) - - 3,578 - - 4,493 - - 250 (324) (324) 8,411 8,914 92 92 (219) (219) - - - (132) 1,018 838 838 (3,571) (3,031) 6,673 - - (90) - - 5,021
	47,764 3,800 170,015 98,398 75,416 - 143,379 (51,000) 92,379 (16,963) - (16,963) 30,801
	47,764 3,800 170,015 98,398	75,416	- 143,379 (51,000)	92,379	(16,963)	- (16,963) 30,801

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