Uoojsw nlOpe IL): 06PAS27-S4fj64&0(8uL)K>w7fj5s926 Charlty registratb)n nurnber 1076564 IEDgland and Wales} ST MICHAEL'S SCHOOL ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
uocu$ign knvelope IL).. ¢JOPAG52l4&6.JuVUuU-Y4Aty47bsyY2O ST MICHAEL'S SCHOOLASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Tru8teg$ Katrina Chorf8S Philippa Neame Jeremy Smith CharlotteAmtspp J Bray DrVLee MfT P Famcombo (Appointed 14 January 20251 Charlty number 10765e4 Indepèndent oxamlnar Marc Jason AEL Markhams Ltd 2nd Floor Belsize Park London United Kingdom NW3 4QG
Uocu8wJn Iu: 6P4&Z1¥66ll[leOl>-Y4AL4ltrS992fi ST MICHAEL'S SCHOOLASSOCIATION CONTENTS Page Trvstee$' report Indende examineV8 report Statemenl of finanaal activtties Balancé sheet Slatemenl of cash llows Notes to the finaft¢ial statements 8-12
uocusign nlOpe Iu.. UOFAL527-54¥(Sr¥kUU.ilUUU-Y4AL4759Y2Ts ST MICHAEL'S SCHOOL ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 JULY2025 Th8 Trustees present Ihelr report and acwunl$ for the y8ar endgd 31 July 2025. Thè accounts have been prgpared in accordance with th8 accounting polici98 sel out in note 1 to the accounts and comply with the Charity's Conslitulion, the Charitie$ Act 2011 and 'Accounling and Reportlng by Charities.. Stsl$m8rit of Recommended Pracllce applicable 19 charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in th8 UK and Republic of Ireland IFRS 1021 leffective 1 January 201S}' Staternent of Tru$tses' Respon$lbllitl89 The Tru$le8s are responsible for prèparing the Trustegs. Report and the accounts in accordance with appllcable law and Unitèd Kingdom A¢counling Standards {Uni18d Kingdom GenerallYAp1e Accounting Praclicel. The law applicable to charitses in Englané and Wales requires th8 Trustetrs to prepare accounts ff( each financial year which give a Irne and f8ir vi8w of the slate of affairs of thè Charity and of th9 inGoming resoureès and appllcallon cf resource8 of the Chafily for that ye8r. In preparing these accounts, the Trustees are requir8d to.. select 5uilable accounting poliaès and then appty them ctsnsislently. obsèrve the molhod$ and winciples in thè Charilles SORP; . make judgements and estimates that are re880nable and prud6nt'. stste whglher applic4blè accounting stÈndards have been followed, subject to any material departures disdosed and explained in the atcounls.. and prepare the accounts on the going ¢oncern basis unl¢s$ it is inappropriat8 to presume that the charity wll continue in operation. Tho Tmslees are rgsponsibl8 for keeping sufficient accounting records that dis¢1gs¢ with rea80nable accuracy 81 any limè the financial position of the Charity and enable them to ensure that th8 accounts comply wlh the Charities Act 2011, the ChaTily (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responslble for safaguarding the assets of the Charity and h8nce for taking reasonable steps for thé prevention and dèteciion of fraud and other irregularities. Oblectlvès and actlvltle8 The Charity's objeets are lo advance the educallon of the pupils ol St Michael's Church of Erland School, Highgale, London N8 by providing and assisting in the provisian of facilities for education at the school (not fonmally provided by tha local education authorilyl. To further these objects, the SMSA may: Foster more extended relationships b9fven the parents, staff and governors and others associated with the -Eng8ge in actlvltles which supp¢)rt Ihe School and advance the 8ducalion of the pupils attending it., Provide funds to rent, purchase andlor finance improvements lo the school building8, grounds and ladIleS as 8grè8d and in discussion Mlh thé Govemors and leaching 5taff.' and Purchase èquipment, eclucatlonal products and other items not provld&d by the local authorlty 01 school govemors that the leathing staff believe will further the objects of the As80cialion. The Trustee8 hav8 paid due regard to gidance ivJued by the Charity Commission in deciding 0t activities thg Charity should undertake.
Dowsign ID". Q6PAG527vWfyBÈlJtb8W13-94AL47t>¥ai8 ST MICHAEL'S SCHOOL ASSOCIATION TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 The Charty hosts a number of events to raise mney, which is then donated lo the School tc provide much neèdad funds 19 Suppori the school infrastructure and education of the pupils. A major Gonlribullon is made by many parents. The Trustees are very grateful for the many hours spent by parents in arranging thè vast array of fund-raising events. The usual major fund-raising evenls during the year are.. - Weekly cake sales Bonfire Night Christmas Cards Christmas Fair Quiz Night - Easter Egg Raffle Footy Fun Day Fun Run Summer Falr Unifoim sale -year6 Concert Achi•v•ments and perfomiance The SMSA made a number of $ignificgnl contributions to the schwl infrastructure during the period. £2.082 for IT equlpment - £1.336 on library expenditure £1,151 on playground expenditure The charity also underwTiles all school Mps 8ncl producuons. This ensures that all children can lake part and b8n8fi1 from the school's diverse activill6s. In addition to raising funds for the SMSA, mgmbers also oversee the Sth¢x)l Library and the Gardening Club. Flnanclal review The Charity holds a single unrestrkled fund and the trustees alm lo minlmis8 th8 ba18nce at 811 tlmes In order that the schod benefits from money raised al the earliest opportunity. In the cutranl year. the lolal in¢ome of the Associalien was £50,08212024 £58,748). With costs ol generating income of £19.85012024 £23,278), Fundraising activities generated £46,303{2024 - £46,187) of the totsl income. There wère no grants received in the yaar Sponsorship tolalling £3.500 was received for th& various èvants run by the assoelation. The Cost$ of charitable ath'vtties during the period were £13,35912024 - £41,680), giving rise 1¢ a nel iner¢ase In funds of £17.073(2024- decrease of £È.728). As a result, fvnds in-hand at th8 p0d end were £73.004f2024- t55,9311. in place lo mili9ate exposure lo the major risks. Strucre• gov•man¢e and management The Charity is governed by a Constitution adopted 27 January 1997, amended 3 July 2014 and 27 F8bruary 2016. 1118 conslituled as an Association- all parents of the school a members of the SMSA. The con¥lilulton slates that trustees and Officers shall be appointed al tF)e Annual General Meeting of the charlty. Appointments sh811 be made trom the majority vole on a show of hands Vote of Members. Secret or written ballots may be held at the oulgokng Gommittee's dl8cretion. In the event of an Officer or Tru51ee resigning or no longer fulfilling the criterla lo be an Officer or Trustee before the end of their term, 8ddilional Officers and Trustees may appointed at a General Meeting from the majorfty vole on a show of hands of Members.
uo¢usign kThv8iopB IU.. U15PA6527.64bb4ELKI-tsUUi%Y4AL4755Y¥2 ST MICHAEL'S SCHOOL ASSOCIATION TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 JULY2025 Each of the Officers and Trusl&es shall rets'ro with effect from the conclusion gf theAnnual General Meeting IAGMI or General Meeting next after his or her appointment bul sho11 be eligible for re-election for another tarm at that AGM. Nowone may be electèd a Trustee or an Officer at any AGM or general meeting unl8S5 prior lo or during tha meeting the Charity is given notice that.. (al a Member proposes the individual for that position gith8r in writing or in rSon,. and Ibl the person who is lo be proposed Shows his or her willingne88 to be appoinled. and Icl the person fills any necessary Grileria for appointment", and Idl nominees for Officers arg Mernbors and will remain so for their term. The Mornr$ may not appoint a per¥on to be an Officer unless thè po8ltlon Is vacant or tho incumbent has resigned. save that persons may be wmoved against their will on a resolution at an AGM or General meeting by a majority vot8 of Memb8rs of the Trustees and Officers using th8 disputes procass. Each officer can Serve no more than 6 con8eculN8 terms a8 an Officer14 consewlive yèars in one Individual rolel. Twslees Can serve no more that 6 ¢onsècutive lem8 as a Trustee. Time 8pant gs Officer81s disregarded. None of th8 Trustees has any beneficial interest In the charity. The Tfuslees who seNed during the yèar were.. Michad Spyrou Katrina Charfes Philippa Neame Jeremy Smith CharfotteAmopp Imran Mahmood J Bray DrVLee A Kalimullina MrT P Famcombe (Resigned 12 March 202SI (Resigned 12 Morch 20261 (Resigngd 12 MarGh 20261 {Appoinled 14 January 20251 ' report was approved by the Board of Tru5tee8. IF#F234E3... Trustee Dated- 29 May 2026 | 11.'03 AM 8ST
Uocusi9n En¥8pe ID.. 06PS27-s46Oo4tjQDkn94AL4I6sYf1 ST MICHAEL'S SCHOOLASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST MICHAEL'S SCHOOL ASSOCIATION I report to the Trustees on my examination of the finanaal statements of St Michael's School As8oclatlon Ilhe Charilyl for the year ended 31 July 2025. Re$ponslbllhie8 and ba¥1$ of report As the Trustees of the Charity you are responsible for the preparation of the financAal statements in accordance with the requirements of the Charil*$ Act 2011. I report in respéct of my examination of the Charity's financial stslements carried out under 59cts.on 145 of the Charities Act 2011. In carrying out my examinalSon I have folh)wed the Directrons given by the Charity Commission under section 14515){b} of the Charities Act 2011. Independent gxamlnerfs statorn•nt Your attenlion is drawn lo the fact Ihat the ¢harty has prepared the financial stslemenls in accordance with the relevant version of the Stslement of Recommended Practice applicable to charities preparfng their financial statements In accordanc& wlh the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charili&s'. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant r¢gulalions but has now been wlhdrawn. l understand that this has been done in order for tho financial statement5 to provide a true and fair view in acGor¢Jance wth UK Generally A¢ceptadAccJJnting Practice. I have completed my 6xaminalion. I confimi that no matters have come to my Attention in conneGtion wth the examinath'on giving me ¢ause to believe that in any Materi respect., accounting rècords were not kept in respoct of Ch8rily as required by $e¢tior$ 130 01 the Chariti¢s Act 2011. the financial slalemenls do not accord wlth those record$,' or the financial statements do not comply with the applicable requirgmenls conc6rning the fomi and Gontenl of finanrAal statements sel out in the Ch8rfties (Accounts and Reports) Regulations 2008 olh&r than any requirement that the financial slalemenl$ give a true 8nd fair view, which is not a matter considered as part of an independent axaminab'on. I have no concems and have com8 au088 no other matters in conneth'on with the examination to which attenlign should be drawn in this report in order to enable a proper understandlng of the financlal 8t8lemenl$ to be reached. uslomdby. É84 arc Jason Independénf Ex•mlTrèY 2nd Floor 201 Haverslock Hill Belslze Park London NW3 4QG United Kingdom Date.. 29 May. 2926..1.11.'17 AM BST
Lkncusign Envebpe I.. U¥PA¥527-54fsISUU5L1Lj-y4AG4T¥$9i12(5 ST MICHAEL'S SCHOOL ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY2025 2025 2024 Notes Income from.. Donations and legades Other trading activities 3,779 46,303 12,561 48,187 Total Income 50,082 58.748 Ex en Iture on: Raising fvnds 19,65Q 23,278 Charitabl8 activities 13,359 41,880 Total resources expgnd•d 33,009 64,958 Net In¢omgll•xpèndFiurel lor thè y•4rl Net movement In funds 17.073 16,2101 Fund balances al 1 August 2024 55,931 82,141 Fund balances at 31 Juty 2025 73.004 55,931 Thg slalemenl of financlal actlviti03 includes all gains and losses rgcowi$ed In the year. The $lalemenl of financial a¢tivrtie8 includes all gain$ and losses rècognised in the year. AJI income and 8xpenditure derive from continuing activities.
envelopo IL)". QfjPA(+$37•yfjfj-ekQOWJDLs4AL47859S2ts ST MICHAEL'S SCHOOL ASSOCIATION BALANCE SHEET AS AT 31 JULY2025 2026 2024 Notes Curr•ntassets Debtors Cash al bank and In hand 10 1.307 56,332 78,321 78,321 57.639 Credltors: amounts falllDg due wlthln one yeai 11 15,317 11,7081 Ngt current assets 73,004 55,931 The funds ofthe Charity Unrestricted funds 12 73,004 55,931 73.004 55,931 29 May2026111'.03 AM BST The financial slalemer)ts were approved by the Trustees on ......................... D•¢US "Y4OSUiIYfPYAÉX" J Bray Tru8t6e
UOCUS19n knv81ope IL).. VSPAbS27-546b*UU.¥UL)1SY4AL47t55YY26 ST MICHAEL'S SCHOOL ASSOCIATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY2025 2026 2024 Notss Cash flows from operatlng actlvltles Cash generated fromllabsorbed by) operation$ 14 21,989 {19,0881 Net ¢a$h gènoratsd Inve8tlng a¢tlvltl•s Net cash gènoratsd from flnanclng a¢tlvlti8s Net incroaselldecreasel In ¢a$h and cash equlvalonts 21.989 119,0881 Cash and cash equivalents al beginning of yéar 56,332 75,420 Cash and cash 8qufvalonts at ènd of y•ar 78,321 58,332
Docusyn Èn¥ew IL).. c*PAG527-54WEgP4QDF6SY926 ST MICHAEL'S SCHOOL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JUL Y 2025 Accountlng poll¢lgs Charlty Informatlon st Michael's School Association 18 a charitabl8 a550cialior¢ govem8d by ils con8tilulion. 1.1 Accounllng conventlon financtal statemenls have been ppared in aeeordance wth the Charitys goveming document, the Charits'es Act 2011. FRS 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Repc)rting by Charili&$.' Statement of Recommended Practice applicable to charities preparing their accounts In ac¢ordan¢e Imth the Financial Reporting Standard appli¢oble Sn the UK and Republic of Ireland {FRS 1021" The Charity is a Public Benefft Entity as defineé by FRS 102. The ffnancial ststemenls have departed from the Charities IAc¢tsunls and Reports) Regulation$ 2008 only lo the exient required to wovide a true and fair view. Thls departure has involved following the Statement of Recommended Practice for charlties applying FRS 102 rather than the version of the Slalement of Recommended Practice which is r8ferred to in the Regulations bLrt which has since b8en withdrawn. The financial statements are prepared in 8tedlNJ. whlch is the functional ¢urr6noy ol th• Charity. Monetary amounts in these financial statements are roundèd lo tho neargsl £. Th& financial slalemenl$ have be&n prepared under the historical cost ¢onvention, Imodified le include the revaluation of freehold properties and to include investmonl propertles and Gertain finanGial insliuments at fair valuel. The principal accovnling policies adopted are Set out below. 1.2 Golng concem At the time of approving the financi818tatemenl8, the Trustees have a r&asonable expectation that the Charity has adaqu8t& resources lo continue in operational existence for the foreseeable future. Thus the Trustses onlinue lo adopt the going concem basi$ of aGGounting in preparing the financial slalements. 1.3 Charltable funds Unreslricled fvnds arn avlable for use al the discretion of the Trustees in furtherance of their charitsble objechves. Restricted funds are subject to Se¢lfi¢ condilb)n$ by_tlon¢yS or 9ranlor8 as to how they may be u8ed. The purposes and uses of the restsicted fund$ are set out in Ihe notes to the ffnancial stslemenls. Endowment fund$ are subie¢t_lo Specific conditions by.donors that the capital musl be mairtsined by_the Ch8rity- 1.4 Incomlng rnsourcfrs Income is recognised when the Charity is legally enlilled to il after any performance conditions have been mel, Ihe amounts can be measured reliably. and11 1$ probable that income will bo received. Cash donations are recognised on receipt. Other donations arg CogniSed once the Charfty has been notlfied of the donats'on, unless performance condilions require deferral of the amount. Income tsx r0Verable in relatlon to dor7alions received under Gift Aid or d8eds of cav8nanl is recognised at the lime of the donation. 1.5 Resources expended
uocusyn Envelop8 IL).. 1ISfrAL527-YWkUU-YtW¥4Ab47ti5¥¥26 ST MICHAEL'S SCHOOL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Accountlng policlas Icontlnugdl Expandiiure is recognised once there is a legal or constructive obllgation lo ITansfer economic ben¢fit lo a third party. il is probablè that a transfer of economlc benefits will be requirèd in setll8menl. and th8 amounl of the obligalK)n can b8 measured reliably. Expenditure is classified by activity. The cost8 of each acllvity are rnade up of the total of direct cost$ and shared costs, induding 8UPPOrt costs involved in undertaking aach activity. Oirscl wsts attributable lo a single activity are allocalgd diréctly lo that activity. Shared costs which Contribute lo more than one activity and supp¢rt costs which are not attributsble to 8 8ingle aclivily are apportioned been those activities on a boSI$ consislenl wlh the use uf resources. Central staff costs are allocated on the basis of lime spent. and depreoalion charge8 are lOcated on the portion of the assèt's use. Resources expended are recognised on an a¢cruals basis and are allocalad to the appropriate activity. Fundraising costs are the costs of activities lo generate funds, these are allocated to the appropriate event. Charitable activities consist of donations made diredy lo the school or expenditure on behalf of the School lo assist in the Pfovision of fa¢ililigs ntst nomally provided by the l¢xal education authonty. Governance ccsls consist of the costs associated wlh slatulory requirements Suoh as indépendent èxamination of th8 charity's accounts and on the Strategic management of the charity. 1.6 Cash and ¢ash •qulvalents Cash and cash equivalents include osh 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 overdraft8 are 8hDvm within borrowings in current liabilitie$. 1.7 Flnanclal Instruments The Charity has elected to apply th6 provision8 of Section 11 '8asic Financial Inslrum¢nl$' and Seelion 12 'Olher Financial In$truménts188ue8' of FRS 102 to all of its financial instruments. Finanryal instruments are recognised in the Charitys balan¢8 sheèt when the Charity becomes party lo the contractual provisions of the instrument. Financial as68ls and liabilities are offsét, with the nel amounts presented in the finanoal slatemenls, vknen there is a legally enfofceable right lo sel off the r¢¢¢gnised amounts and there is an intention to settle on a net basis or lo realise the a$sel and sellle the liability 8imultaneou81y. 8asl¢ Ilnon¢ial assets Basic finan¢ial assets, which include debtors and cash and bank balan8, are inibally measured at lransacts.on price inclLKJing transaction costs and are subsequently earriad at amortised cost using Iha effedive interest mglhod unless the arrangement constitutes a financing transaction, wh&re the transaclion 15 measured al the present valu& of the future receipts discounted al a market rate of inl8resl. Finanryal assels dassifi8d as receivable wlhin one year are not amortised. 8aslc Ilnanclal Ilabllltios Basic financial liabilf(ies, uding crèditors and bank loan8 are Initially reco9nised at transaction price unles8 the arr8n9ement constitute$ a financing tranSaon, where the debt in81rum&nt is measured at the psent value of the futur¢ payment$ di$¢ounted at a market rate of interest. Financial liabilities cla$$ifi8d as payable thin one year are not amortiseé. Debt inslrurnenls are subsoquanlty carried al amortised Bost, using the effectiv8 interest rale method. Trade Creditors are obliyatlons to pay for gocds or sice8 that have been acquired in the ordinary course of 0ratiOnS from suppliers. Amounts payable are classlfied as current liabilities rf payment is due within one year or less. If not. they are pre8enled a8 non-curr&nt liabilities. Trade cr8ditors ara racognised initially at transaction prfce and subsequenlty measured al amortised cost using the effective interest rnethod.
LknusYJn Envelope SD.. 0SPALSZ7-Y6fy8EQQa8WS1AG4l1 ST MICHAEL'S SCHOOL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Accountlng pollcles IContlnue(i) Dere¢ognltlon of finala1 Ilabilitles Financial liabilitie8 are defenISed when tha Ch8rity's contractual obllgalion8 explre or are disch8rged or Cancelled. Income from donations and legacles Unrestrlcted funds 2025 Unrostrfcted funds 2024 Donations and gifts 3,779 12,561 Incom8 from other tradlng aGtlvlllfr8 Unr¢$trlGted Unrestrlctèd funds funds 202S 2024 Fundraising ever 48,303 46,187 Ralslng funds 2025 2024 Staging ftmdrai8ing everrts --19,650 23,278- 19,650 23,278 10
vocusn LVep9 IL).. trAs£7-54s6-W4Uu.Y4Ati47652(S ST MICHAEL'S SCHOOL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 Charltable a¢tlvitl¢s Charhblè Olh•r expondlture Expondlture Total 2026 Total 2024 Charitable exp8ndilure 11,479 11,479 39,865 Share of govemance costs (see not8 6} 1,880 1,880 1,815 11,479 1,880 13,359 41,880 Support costs Support Qovemantè costs Go$ts 2025 2024 Ba$ls ol allocatlon Independent Examiners Fees NGPTA Governance 1,718 162 1,718 162 1,662 153 Gov¢man¢¢ 1,880 1.880 1,815 Anatysed beèn Charitablè activitsas 1,880 1,880 1.815 Trustees None of the Trustees {or any persons connected with Ihgml received any romuneralion or benefits from the Gharity during th¢ year.12024- none) Employees There were no employees during the year. Taxation Th8 charity is éxempt frorn taxation on ils actiwlies becaus8 all Its Income 1$ applled for charitabl8 purpos8S. 10 Debtors 2026 2024 Amounts falllng due within one year: Other debtors 1,307 11
ocuspjn Èn¥ehJpe ltr. 06FAL52K44654EQNQDUth94AG41659926 ST MICHAEL'S SCHOOL ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2025 11 Credltor8: amounts falllng duo wlthln one year 2025 2024 Trade creditors Acfflials and deferred Income 3,637 1,680 118 1,590 5.317 1,708 12 Unre51rf9d fund3 The unrestricted funds of the Charity comprise th& un8xpendod balances of donations and grants which are not subject to speofic conditions by donors and grantors as to how they may be used. Thes& include designated fijnds which have been sel aslde out of unrestricted funds by th8 trustees for specific purposes. At 1 August 2024 Incomlng resources Resources expend At 31 Juty 2028 General fijnds 55,931 50,082 133,0091 73,004 Pftvlous y•ar: At 1 August 2023 Incomlng Rèsour¢es rosources gxpondgd At 31 July 2024 General fund8 62,141 58,748 164,9581 55,931 13 Rolated party transactlons There were no dis¢losable Telated party Ir8nsactlons during the year {2024 none}. 14 Cash generated from operatlon8 2025 2024 SUrpIL/{deffiClt1 for thè year 17,073 (6,2101 Movement$ in workiry capital.. De¢r?asellinueasel in debtors lrtcreasel{decreasel in creditors 1,307 3,609 13071 112,5711 Cash ganorated fron(abSorbOd by) OPgrnllon$ 21,989 (19,0881 12-