d primor PTA Oakwood Association also known as Oakwood Primary School PTA (an unincorporated charity) Charity number 1102222 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
Oakwood Association Regulatory Infonnation Truste68 Mrs Amy Wright Mrs Laura Fyfe Mrs Clare Seldon (appointed 22 October 2024) Mrs Samantha Bonfield (resigned 22 October 2024) Reglstered Offlce Oakwood Primary School OakwDod Drive St Albans AL4 OXA Charfty number 1102222
Oakwood Association Trustees Annual Report Year Ended 31 July 2024 Structure. Governance and Management oakwood Association, trading name Oakwood Primary School PTA, is an unincorporated association governed by its constitution. adopted on 19 March 2003, updated on 6 March 2012. It is registered as charity 1102222 wlth the Charity Commission. This annual report and accounts of Oakwood As50clation cover the period of l August 2023 to 31 July 2024. anisation The Board of Trustees administers Oakwood Association along with the members. There must be at least two trustees. In the 2023-2024 flnancial year, the Trustees included: Clare Seldon (Chairl, Amy Wright (Treasurer), Laura Fyfe (Co-secretary) and Samantha Bonfield (Co-secretary). The Board is committed to meet at least three times a year. The organisation employed no permanent members of staff. ointment of Trustees Trustees are appointed from its membershlp, by a majority vote at the AGM, Objectlves and Actlvltles In setting our objettive5 and planning our artivities the Trustees have given careful consideration to the Charity Commission's public benefit guidance. The objetts of the Association are to advance the education of pupils at Oakwood Primary School in particular l. Developing effective relationships between the staff, parents and others associated with the school, including the local community and the public,. 2. Engaging in attivities or providing facillties or equipment whlch support the school and advance the education of the pupils, Events The charity carries out a wide range of activities in pursuance of it5 charitable aims. The trustees consider that these activities provide benefit both to those who attend Oakwood Primary School and the wider community. We had a relatively strong year, our summer fundraising was higher than last year due to extra lolly sales put on in the second half of the summer term. Our buslest time, Christmas, was not as profitable as the previouse year with the Parents Xmas Party taking place In a new venue which reduced its profit by over £1,000. OAKFEST was its usual trlumph in July and we appreclated the extra support from the school staff attending. The PTA ran over 30 events last year, from regular second hand uniform and lolly 5ale5, cinema nights, quizzes to our larger events at Christmas, Easter, and the Summer. We were lucky enough to have 212023: 31 events match funded by parents employers which raised an extra £1,62312023.' £2,700) to what the school & wider community donatedl We have Continued to make a concerted effort to help encourage both the school and wider communities to reduce the use of single use plastic.
Oakwood Assoclatlon Trustees Annual Report Year Ended 31 July 2024 Financial Revlew S endin We were pleased to continue to receive a good number of requests over the year from teachers and noted a continued increase in requests for outdoor play equipment which ties into our decision to continue to support the school in their Opal scheme. When reviewing funding forms we continue to record and look back at what type of curriculum artlvlty and across which Key stages we have spent against to aim for a fair balance to all areas, We also report back on why funds were not allocated and encourage them to try again next term if we think relevant. Our funding has enabled the school to purchase this year: Several workshops and trips across all year groups, a large expenditure on storage sheds related to storing outdoor play equipment and a wide selection of books. Fundln Followin8 our policy of spending money raised in the followlng financlal year, our year end position is extemely positive, with our reserves sitting at £42,58912023.. £41.578). Some of these funds have been requested by the school to be spent on expetted future projects, includlng the MUGA {multi surface games arena) and Opal (Outdoor Play and Learning) Scheme. As such, we have no uncertaintie5 about the charity continuing as a going concern as we have no fixed outgoings. No funds are held as Custodian trustees on behalf of others. The future plans of the charity are to continue their attivities in line with their objectives and continue to fundraise for the school, repeating many of the events of this year. Trustees. Responslbllltles for the Flnanclal Statements The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prartice.) 5elett 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; stste whether applicable accounting standards have been followed, subjert to any material departures disclosed and explained in the financial statements,. prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeplng proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charitie5 Act 2011, the Charity (Accounts and Reports) Regulatlons 2008 and the provisions of the Trust Deed, They are also responsible for safeguarding the assets of the charity and hence for takin8 reasonable steps for the prevention and detettion of fraud and other irregularitie5. The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees Amy Wright, Treasurer Date: i Tr 10Tr1202S
Independent examinerfs report to the trustees of Oakwood Association I report to the trustees on my examination of the accounts of Oakwood Association for the year ended 31 July 2024. Responsibilities and basis of report A5 the charity trustees of Oakwood Association (the Association) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Association's accounts carried out under section 145 of the 2011 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 examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not accord with those records,. or 3. the account5 do not comply with the applicable requirement5 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true 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 connettion 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. Si8ned.. Marie Twomey-mcleod ACA 31 Chestnut Drive St Albans AL4 OER Date". /q 102f'
Oakwood Assoclation Statement of Financial Actlvities Yearto 31 July 2024 General funds Restricted funds Total 2024 Total 2023 Note Income from: Donations Charitable activities: Fundraising events Trading activities Bank Interest 629 629 661 27,209 5,953 104 27,209 5,953 104 28,727 5,596 45 Total income 33,895 33,895 35.029 Expendlture on: Charitable activities Fundraising costs Administration costs 18,949 13,662 273 18,949 13,662 273 10,882 10,622 274 Total expendlture 32,884 32,884 21,778 Net Income 1,011 1,011 13,251 Reconcillation of funds: Total Funds brought forward 41,578 41,578 28,327 Funds carried forward 42,589 42,589 41,578 There are no recognised gains or losses other than those recognised above. All activities are continuing. The financial statements have been prepared on a going concern basls.
Oakwood Association Balance Sheet Year Ended 31 July 2024 Total 2024 Total 2023 Notes Current Assets Debtors Cash at bank and in hand 2,952 40,021 506 43,659 Total current assets 42,973 44,165 Liabilities Creditors: amounts falling due within one year 1384) {2,587) Total Net assets 42,589 41,578 Funds Unrestricted funds General funds 42,589 41,578 Totsl Charity Funds 42,589 41,578 Approved by the Trustees and authorised for issue on 19 July 2025 Signed on their behalf by.. Amy Wright, Treasurer
Oakwood Association Notes Year Ended 31 July 2024 l Accounting Policies a) Basis of Accounting The Oakwood Association is a Charity registered in England and Wales. It's registered address is Oakwood School, Oakwood Drive, St Albans, Hertsfordshire, AL4 OXA and it is a Public Benefit Entity. The financial Statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, published on 16 July 2014. The charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 {The FRS 102 Charities SORPI and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair view, and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from I April 2(J)5 which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The principal accounting policies, which are applied consistently, are set out below. b) Going Concern Bas15 The financial statements have been prepared on a going concern basls. Having carried out a detailed review of the Charity's resources and the current economic challenges facing both the Charity and its members the Trustees are satisfied that the Charity has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements and that it is appropriate for the accounts to be prepared on the going concern basis. c) Accounting Estimates In the view of the trustee5 in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements, nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. d) Income All Income Is accounted for when there is evldence of entltlement, the receipt is probable and the amount can be measured reliably. e) Expendtture All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obli£ation for payment to be made. f) Cash and Cash Equivalents Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less.
Oakwood Associatlon Notes Year Ended 31 July 2024 l Accounting Policies (continued) E) Financlal Instruments The charity only holds basic financial instruments as defined by FRS 102. Financial instruments receivable or payable within one year of the reporting date are recognised at their transaction value and subsequently measured at their settlement price. With the exceptions of prepayments and deferred income all other debtor and creditor balances are considered to be basic financial instruments under FRS 102. h) Critical Accounting Estlmates and Areas of Judgement In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. l) Volunteers All our events are run and supported by parent volunteers who are members of the PTA and the trustees. J) Trustees No trustees were paid any remuneration or received any other benefit from the charity. No trustees expenses have been incurred or reimbursed. kl Related Party Transartions There were no related party transactions in the year, or previous year, 2 Debtors 2024 2023 Other Debtors Prepayments 2,219 733 506 Total Debtors 2,952 506 3 Cash at bank and In hand 2024 2023 Cash in hand Current Account Fixed Interest Accounts 120 30,911 8,990 120 34,653 8,886 Total Cash 40,021 43,659
Oakwood Association Notes Year Ended 31 July 2024 4 Creditors: amounts falling due wlthin one year 2024 2023 Other creditors Accruals 84 300 2,587 Total Credltors 384 2,587
Oakwood Association Year Ended 31 July 2024 Note 5: Detailed Income and Expendlture 2024 2023 Cost of Fundraisin Activities Oakfest Christmas Fair £2 Room (4,085} 1673) (153) {9851 {io} 1400) (2,0751 1174) (3,897) 13371 {1731 {6291 Christmas party Hampers Disc05 Burns night Cinema Night Quiz night Panto Wreath makin8 Easter Hair Braiding Olympics Sip and Paint Karaoke Ice cream sales {4001 1133} 1411) (3,096) 1263) 1173) 1261) 1188) 1210) 1280} (171) (10,6221 (3,686) 1409) 1115) 1173) 1405) 13191 113,6621 Administratlon costs PTA membership Bank charges Other admin costs Printer cartridge {1531 1161 (1041 {1401 1421 158) 1341 {2741 1273} Charitable events Christmas crackers & tree Coffee morning & New parents gifts Gardening l Lend a Hand Digital Panto Year 6 Leavers Presents- office 181) {5) (2,493} 1175} {61 11,5381 11,050) 126) (3,655) {1,050) 137) 12,806) Donations direct to school Trips and workshops Class donations Central school fund Teacher requests (Pot 2} 12,625) 1825) (7.940) {3,904} 12,6251 {825) {4,626) {15,294) 18,0761 Total expenditure 132,8841 121,778) Surplus/(deficit) for the year I,oii 13.251
Oakwood Associatlon Year Ended 31 July 2024 Note 5: Detailed Income and Expenditure 2024 2023 Income from charitable activities Oakfest Christmas Fair £2 room Christmas Partv Wreath making Hampers Deck the Halls Discos Burns night Cinema night Karaoke Easter Hair Braiding Olympics Marie's Walk Hair Tinsel Sip & Paint Quiz Spooktacular Trail Stamptastic Matched Funding 8,853 3,407 1,999 2,349 623 759 58 8,044 3,502 1,874 3,267 741 764 51 1,441 1,326 3,287 734 732 593 560 1,215 792 523 1,481 542 12 311 431 407 926 1,624 27,209 2,708 28,727 Income from tradln actlvltles Panto Book sale Ice cream sales Uniform sale Costume sale Fab bricks 4,093 4,275 1,266 503 91 645 565 iii 5,953 5,596 Donatlons: Easyfundraising & Amazon smile Golf day Putterills Donations 188 172 552 179 Christmas treeasy 90 629 100 661 Investment Income Bank interest 104 45 Total Income 33,895 35.029