Charity number.. 1068203 THE MISBOURNE SCHOOL FUND UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
THE MISBOURNE SCHOOL FUND CONTENTS Pagè Rofercnce and administrative detalls of th¢ charity. its Trustees and advisers Trustees, report Indfrpendent examiner's report Statement of financial activlties Balance sheet Noteb to the flnanclal stat@mÈnts 8-13
THE MISBOURNE SCHOOL FUND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees K Brannan (Goodwin) P Brown L Kelly Charlty registered number 1068203 Prlnclpal office Misbourne Drive Gr6at Missenden Buckinghamshire HV1b UESN Accountants James Cowper Kreslon Audit Chartered Account8nts and Slaluttsry Auditor Reading Bridge House George Street Reading Berkshire RG18LS Page 1
THE MISBOURNE SCHOOL FUND TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The trustees prosent their report with the financial slalements of the charity for the period ended 31 August 2022. The Iruslees have adopted the provisions of Accounting and Reporting by Lharilies., Statement or Recommtsndèd Practice application to eharities prg.p3ring thp.ir 2r.erJiint% in Accordance wlh the Financial Reporting Standard applicablè in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. d activities Policies and objectlv¢$ The princlpal object of the charity is to advance the education of the students attending The Misboume. The school fund is also used for fundraising purposes. One of the main fund-raising activities in the current year has been for resources for the new spons hall Ihai was completed in the sumtner term 2022. Thib lnLludd ¢1 qummer l&rm trail run that raised £6.394. The charity has raised ftjnds through Amazon Smile. Just Givino, Miz Fund and Gift Aid. The We Will Rock You concert was an in-year success and raised a further £200 to onward school productions, which are growing in Strength and incorporate a range of students from KS3 - KS5. Main actlvltigs undertaken to further the charity's purposes for the publlc benelit The Charity undertook educational trips to enhance pupils, greater understanding of their place in society and in selecting such educational trips the Trusteès have had regard to the Charity Commission's guidance on publi benefit. Achlevements and erformance Review of activities Ineome from charilahle aplivilip.8 rp.prpqpnt% ine.nmp rereivÈd from educational trips. Proportionally. income and expenditure was significantly higher than in the previous year due to the Covid-19 Pandemic preventing trips taklng place. In 2022 activity ie5umed tu riurrTltil levelb. Investment policy and performance Under the trust deed, the Trustees may invest money as they see fit. The charity will seek lo maximise the return on any cash balances by utilising higher rate bank accounts where appropriate. The charity will not make any other form of investment. Financial review Going coneern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details Tegarding the adoption of the going concern basis can be found in the accounting policies. Reserves policy The Trustees consider a reserve in the region of £25,000 to be appropriate. The reserves policy is to be rgviewed annually by the TTUStees. Page 2
THE MISBOURNE SCHOOL FUND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 structure overnance and mana ement Constitution I ne Misboume School Fund is a registered charity, nufflber 1068203, and is constituted under a Trust deed. The charity is c(Jnlrnllp.d hy itq governing document, a deed of trust, and constilutgs an unincorporated chtsrity. Methods of appolntment or electlon of Trusteès The management of the charity is the responsibility of the Trustees who are olecled and co opted under the terms of the Trust deed. Trustees are recruited to fill vacancies on the basis of the skills set they offer the Charity. New Trustees are acqiiainled with the Charity Commission's publicaliong particularly with regardtr tts Good Covcrnanco. Organlsatlonal structure and decislon making policies The day lo day administration of the charity is carried out by staff of The Misbourne School in conjunction with the Trustee5. Plans for future periods The Trustees will continue to seek lo advance the education of the students attending The Misboume School by encouraging participation in school trips and seeking to support the school in its development. Page 3
THE MISBOURNE SCHOOL FUND TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Statement of Trustees, res onsibilities Thc Trutstee• are re -ponsible for prgparing th8 Trust8gs' r8port and Ihs finsnci81 slatomonls in accordanee with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢li¢el. The law applicable lo charitie5 in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the slate of allairs of the charity and ol its Incoming resources and application of resources, including ils income and expenditure, for that period. In preparing these financial slalemenls, th8 Trustees are requlred to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., maka judgments 2nd accountin9 estimates that are rgasonablg and prudent.. slate whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject to any material depanures discloseiy and explaine(J in the financial staiemenis,. prepare the financial statements on the going ¢oncern basis unless it is inappropriate lo presume that the charity will continue in business. The Trus18es are responsible for keeping adequate accounting records that are sufficient to show and explain the charills transactions and disclose with reasonable accuraey at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonablg steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behall by.. K Goodwln Page 4
THE MISBOURNE SCHOOL FUND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022 Independent Examlner's R&port to tho Trustees of Th• M5sbourno S¢hool Fund I'the charity'l I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2a22. Re5ponsibilltlès and Basls of Report As the Tru51ees of the charity you are responsible for the preparation of the accounts in accordance Mrilh the requirements of the Charities Act 2011 {'Ihe 2011 Act'l. I report in respect of my examination ot the charitys account% r2rriArl niil under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under ection 14515}Ibl of the 2011 Act. Independent Examiner's Statement Your attention is dr2wn to the f8et that the charity has proparad the accounts in tsccordancc with Accounting and Reporting by Charities.. Slalemenl of Rècommended Prsclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Slalement of Recommended Practice issued on 1 April 2005 which is referred to in the exlanl regulations but has been withdrawn. l understand that this has been done in order for the a¢¢ounls lo provide a true and fair view in accordance with the Generally Accepted Accounting Practice effectlvg for reporting periods beginning on or after 1 January 2015. I have completed my exAminxtinn I confirm that no matters have com8 lo my attention in connection with the examination giving me cause to believe that in any material respect.. accoLinting records wère not kopt in rgspect of the charity as rcquircd by section 130 of Ihts 2011 AGt-, or the accounts do not accord with those records., or the accounts do not Comply with the applicable requirements concerning the fom and conlenl of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accounts give a 'lrue 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. Signed.. Darren O'connor Bsc IHonsl FCCA ACA James Cowper Kreston Audlt Chartered Accountants and Slatulory Auditor Reading Bridge House George Slreel Reading Btrk5hire Dated.. 02 May 2023 RG18LS Page 5
THE MISBOURNE SCHOOL FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted funds Total funds 2022 Total funds 2022 2021 Note Income from: Donations and legacies Charitable activities Other trading activities 1,364 66,495 21 1,364 66.495 21 4,375 15,384 17 Total Income 67,880 67.880 19,776 Expendlture on: Charitable activities 86,038 86,038 19,232 Total expenditure 86,038 86,038 19,232 Net movement in funds 118,1581 {18,1581 544 Rèeanclllatlon of funds: Total funds brought forward Nel movement in funds 132,963 (18.158) 132,963 118,1581 132,419 544 Total funds ¢arrled forward 114,805 114,805 132,963 The Statertieiil uf Fiii¢lllLl¢dl Aulivilieb iiibludes all gains and losses reGOgnised in the year. The notes on pages 8 to 13 form part of these financial slalements. Page 6
THE MISBOURNE SCHOOL FUND BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 Ngto Currgnt assèts nphtnrs 6,723 109,082 84,302 89,648 Cash at bank and in hand 114,805 174,030 Credltors.. amounts falling due within one year 141,0671 Net current asset$ 114,805 132,963 Ngt assets 114,805 132,963 Charlty funds Unrestricted funds 11 114,805 132,963 Total funds 114,805 132,963 Tho financial slatementg wcrc approved 8nd 8ulhorised for i¥3ue by the Trustees and sigiied oli Ili¥ii L)¥li¢ill by.. FLartL. K Goodwln Dale: The notes on pages 8 to 13 form part of these financial statements. Page 7
THE MISBOURNE SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Aeeoiinting politi&s 1.1 Ba818 of preparation of financlal stat¢monts The financial slalemenls have been prepared in accordance with the Charities SORP IPKb 1U21 Aecounting and Reporting by Charities.. Statement of Re.r.nmmgndp.(4 Prar.tir.p. ADplir.2hlp Ir) eharilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the FinanGial Reporling Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial slalements have been prepared lo give a 'lrue and f8il view and have departed froTn the Charities (Accounts and Reports) Regulations 2008 only to the exlenl required lo provide a 'true and fair, vi8w. This departure has involved following th8 Charities SORP IFRS 1021 rather than the Accounting and Raporting by Charitios.. Slalomgnl of Rgcommendod Practicè effective from 1 April 2005 which has since been withdrawn. Thp Mi%hniimg. School Fund meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless othetwise stated in tho relevdiil iaLbuuiiLiiiy [Juliy. 1.2 Income All income is recognised onee the charity has entillemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of Ihe Llvncilivn. 1.3 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third paty, it is probable that a transfer of economic benefits will be required in selllemenl and the amDunl 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. ExpenditLJre relating lo future educational trips is deferred into the financial year in which the trips occur. Governance costs are those incurred in ¢onne¢lion with administration of the charity and compliance with conslitulional 2nd statutory requirements. LhaTilable activities and Govemance cosrs are cosis incurred on the Charitys educational operations, including support costs and costs re121ing lo the governance of the charity apportioned to charitable activities. All expenditure is inclusive of irrecoverable VAT. 1.4 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured rpliahly hy Ihp. r.harily.' thiq 18 nnrmAlly iipan nntifir.AtitJn nf thp. intp.rp..%t pxid nr pAy2hlp by thp insliliition with whom the funds are deposited. Page 8
THE MISBOURNE SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accounting p(Jlielès Icontinuedl 1.5 Dgbtors Trade and other debtors are recognised al the selllemenl amount after any trade discount offered. Prepayments are valuecl at the amount prepaid net of any trade discounts due. 1.6 Cash at bank and in hand Cash al bank and in hand includes cash and short-term highly liquid investments with a short maturity ol three months or less from the dale of acquisition or opening of the deposit or similar account. 1.7 Liabilities and provislon$ Liabilities are r9.rnoni.p.rl when theré is an obligation at the Balanco shgal dat8 as a rgsull of a pa- event, il is probable that a transfer of economic benefit will be required in selllemenl, and the amount ol Ilie èvlll¥iii¢iil Laii be e5tlmate(J rellably. 1.8 Financial instruments The charity only has financial assets and financial liabilitios of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their sèttlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 1.9 Fund accounting Ceneral fund) are unreslricled funds whiGli ai"8 availdL)l¥ fur ub¥ ill the discretion of the Trustees In furtherance of the general objectives of the charity and which have not been desiqnaled for other purposes. Crltlcal accounting estlmates and argas of Judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Critical accountir)g c- -timalc4J and aSUmPtIOnS.. l Me charity makes estimates and assumptions concerning the future. The resulting accounting estimates and a%%iimptinn* will. by definition, seldom equal the related actual rssults. Th8 8Stimato8 and assumptions that have a significant risk of causing a material adjuslmenl lo the carrying amounts of dbb¥ib- iiiid liabilities wlthln the nexi llnanclal year are discussed below. Page 9
THE MISBOURNE SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Income from donations and legacies Unrestrictèd funds 2022 Total funds 2022 Total funds 2021 Donations 1,364 1,364 4,375 Total 2021 4,375 4.375 Incomg from charitable activities Unrestricted funds 2022 Total funds 2022 Total funds 2021 Charitable activities 66,495 66,495 15,384 Total 2021 15,384 15,384 Fundralsing Income Income from fundraislng events Unrestricted funds 2022 Total funds 2022 Total funds 2021 Other income 21 21 17 Total 2021 17 17 Page 10
THE MISBOURNE SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Analysis of 9xpendlture on charltable activities Summary by fund typg Unrostrietgd fund$ 2022 Total 2022 Total 2021 Charitable aclimlies Govornanca eosts 84,838 1,200 84,838 1,200 17,847 1,365 86,038 86,038 19,232 Total 2021 19.232 19,232 Independent examiner's remuneratlon The independent examinels r8muneralion amounts lo an independent examiner fee of £1,200 12021 £1,200). Trust••s' remuneration and expense8 L)uring the year, no Trustees received any remuneration or other benefits12021- £NILI. During the year ended 31 August 2022, no Trustee expenses have been incurred12021- £NILI. Debtor5 2022 2021 other debtors Prepayments and accrued income 5.723 5.723 78,659 5,723 84,382 Page11
THE MISBOURNE SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 10. Creditors: Amounts falling due within one year 2022 2021 Accruals and deferred income 41,067 2022 2021 Deferred income at 1 Seplemb8r 2021 Resources deferreil Uurlng the year Amountkl relcakicd from pr¢viou- pcritsds 41,067 141,0071 44,308 100 {3,341) Deferred income at 31 August 2022 41,067 Statamant of funds statement of funds - current year Balance at 1 September 2021 Balance at 31 August 2022 Income Expenditure Unrestrlcted funds Genera1 Funds - all funds 132.963 67,880 186,038) 114.805 Statement of funds prior year Balance al 1 September 2020 Balance al 31 August 2021 Income Expenditure Unrestricted funds General funds 132,419 19,776 {19,2321 132,963 Page 12
THE MISBOURNE SCHOOL FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 12. Analysls of net assets between funds Analysis of nèt #ssots bgtwo•n funds - current yoar Unrgstricted fiinds Total funds 2022 2022 Current assets 114,805 114.805 Total 114,805 114,805 Analysis of net assets between fund5 - prior year Unrestricted funds 2021 Total funds 2021 Current assets 174,030 141,0671 174,030 141,067} Creditors due within one year Total 132,983 132,963 13. Related party transactions There were no related party transactions for the year ended 31 August 2022 or the prior year. 14. Controlling party The ultimate controlling party is Tho Misbourng. Page 13