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2023-08-31-accounts

Charity registration number 1052903

FRIENDS OF ST CHRISTOPHER'S SCHOOL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

FRIENDS OF ST CHRISTOPHER'S SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees S Schneider Ms S Bennet-Nash (Appointed 23 May 2023) Charity number 1052903 Principal address 32 Belsize Lane Hampstead London NW3 5AE Independent examiner CBW Audit Limited 66 Prescot Street London E1 8NN

FRIENDS OF ST CHRISTOPHER'S SCHOOL

CONTENTS

Page
Trustees' report 1
Independent examiner's report 2
Statement of financial activities 3
Balance sheet 4
Notes to the financial statements 5 - 8

FRIENDS OF ST CHRISTOPHER'S SCHOOL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees present their report and financial statements for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011 and "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).

Objectives and activities

The Friends of St Christopher's is a school parent's association. The Friends engage in activities to fulfill its aims and objectives of advancing the education of the pupils, promoting good relations between staff, parents and others with the school and assisting in providing facilities for education not normally covered by the school's funds.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Achievements and performance

Friends of St Christopher's School continues to raise funds through fundraising at events and social activities they organise.

The Trust had aggregate cash balances of £39,230 as at 31 August 2022.

Financial review

It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The trustees who served during the year and up to the date of signature of the financial statements were: S Schneider A Pollak (Resigned 22 May 2023) Ms S Bennet-Nash (Appointed 23 May 2023)

The Trustees' report was approved by the Board of Trustees.

S Schneider

13 June 2023

FRIENDS OF ST CHRISTOPHER'S SCHOOL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF FRIENDS OF ST CHRISTOPHER'S SCHOOL

I report to the trustees on my examination of the financial statements of Friends of St Christopher's School (the trust) for the year ended 31 August 2022.

Responsibilities and basis of report

As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

CBW Audit Limited

66 Prescot Street London E1 8NN

Dated: 13 June 2023

FRIENDS OF ST CHRISTOPHER'S SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

**Unrestricted ** Unrestricted
funds funds
2022 2021
Notes £ £
Income from:
Donations and legacies 3 - 2,985
Charitable activities 4 27,655 10,831
Total income 27,655 13,816
Expenditure on:
Raising funds 5 5,076 3,970
Charitable activities 6 9,293 12,327
Other 8 545 955
Total expenditure 14,914 17,252
Net income/(expenditure) for the year/
Net movement in funds 12,741 (3,436)
Fund balances at 1 September 2021 26,489 29,925
Fund balances at 31 August 2022 39,230 26,489

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

FRIENDS OF ST CHRISTOPHER'S SCHOOL

BALANCE SHEET

AS AT 31 AUGUST 2022

Notes
Current assets
Cash at bank and in hand
Net current assets
Income funds
Unrestricted funds		 2022
£
39,230		 £
39,230
39,230
39,230		 2021
£
26,489		 £
26,489
26,489
26,489

The financial statements were approved by the Trustees on 13 June 2023

S Schneider Trustee

FRIENDS OF ST CHRISTOPHER'S SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

Charity information

Friends of St Christopher's School is an incorporated charity. It's business address is 32 Belsize Lane, Hampstead, London, NW3 5AE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FRIENDS OF ST CHRISTOPHER'S SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

FRIENDS OF ST CHRISTOPHER'S SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

3 Donations and legacies

Total Unrestricted
funds
2022 2021
£ £
Donations and gifts - 2,985
4 Charitable activities
Charitable Charitable
Income Income
2022 2021
£ £
Christmas Fair 4,379 2,016
Quiz Night 1,174 -
Movie Night 2,038 -
Cake Sale 819 -
Second Hand Uniform Sales 8,591 5,048
Summer Fair 7,878 3,767
Golf Day 1,976 -
Football Day 800 -
27,655 10,831

5 Raising funds

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising
Golf Day expenses 1,984 -
Summer Fair expenses 1,337 1,239
Christmas Fair expenses 878 1,608
Quiz Night expenses 823 -
Movie Night expenses 21 -
Second Hand Uniform Expenses 33 124
Year book expenses - 999
5,076 3,970

FRIENDS OF ST CHRISTOPHER'S SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

6 Charitable activities

Charitable
Charitable
Expenditure
Expenditure
2022 2021
£ £
Donations to school 8,754 10,922
Staff gifts 539 1,405
9,293 12,327

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

8 Other

Unrestricted Unrestricted
funds funds
2022 2021
Accountancy fees 111 540
Committee Expenses - 415
Bank fees and overheads 434 -
545 955

9 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).