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2023-03-31-accounts

Hitherfield PTA Financial Highlights 2022/2023

The financial results for 2022/23 (financial year ended 31 March 2023) are presented at the AGM on 13 October 2022. Here are the key financial highlights:

This is a significant year-on-year increase in income. The total income generated shows an approx. £2k increase from the previous year. The fundraising costs have also increased reflecting the cost-ofliving crisis which has sharply picked up during the financial year being discussed in this report. The fundraising surplus still remains a significant and healthy figure of just over £20k. A huge thanks to everyone that supports the PTA and the volunteers who dedicate their time to help the committee members during events and fairs. It is hugely appreciated, and the financial support provided by the PTA is ever more important as schools such as Hitherfield face increasingly challenging funding gaps.

The PTA provided just over £25k of funding to Hitherfield Primary School in 2022/2023 for the followings:

This means the PTA will report an overall surplus of approx. £8k for the year, however the PTA has already been invoiced for

The school has not cashed in the cheque yet; the above expenses remain a liability at the time of writing.

As at 31 March 2023, the PTA continued to be in a strong financial position with reserves of £40k, £14.5k of which not cashed by the recipients by such date, and the capacity to accommodate future funding requests from Hitherfield Primary School.

During the current financial year (2023-2024), the PTA has already provided and approved a further £13k of funding to Hitherfield Primary School for the following:

As of 11[th] September 2023 (last statement’s date), the level of reserves stood at approx. £49k with the above funding to be cashed by Hitherfield Primary School, along with a cheque for nearly £14k, within this current month; the PTA is in discussion with Hitherfield Primary School on how the remaining funding could be best utilised. The PTA has already committed to fund:

Due to the PTA exceeding the £25k Income threshold, the 2022-2023 accounts will require an independent examination. This process will be completed in the coming weeks before the accounts are filed with the Charity Commission.

The statement of Income & Expenditure and the Balance Sheet for the Financial Year Ended 31 March 2023 are presented overleaf.

Income & Expenditure for the year ended 31 March 2023

Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023
2022/23 2021/22
£ £
Income
Event Fundraising & Donations 31,625 25,309
Easy fundraising 604 891
Other income - 3,917
Total Income 32,229 30,117
Expenditure
Running Costs
Event supplies 11,655 5,414
Insurance (Parentkind) 140 128
Charity Donation 26 26
11,822 5,568
Charitable Expenditure - School Funding
Bookcase Y1-Y6 1,800 0
Books Y1-Y6 5,000 0
PE equipment 1,000 0
Trim Trail equipment 3,440 0
Xmas Cards 1,382 0
Other - 12,245
12,622 12,245
Total Expenditure 24,444 17,813
Net Surplus / (Deficit) -
7,785		 12,304
Balance Sheet as at 31 March 2023
2023
2022
£
£
Assets - Cash at Bank & In Hand
Bank Statement balance on 31 March 40,118
19,093
PayPal balance on 31 March -
652
Total Assets at 31 March 40,118
19,745
Liabilities at 31 March (14,453)
(357)
Net Assets at 31 March 25,665
19,388
Unrestricted Reserves as at 31 March 25,665
19,388
Income & Expenditure for the year ended 31 March 2023 Income & Expenditure for the year ended 31 March 2023
2022/23
2021/22
£
£
Income
Event Fundraising & Donations 31,625
25,309
Easy fundraising 604
891
Other income -
3,917
Total Income 32,229
30,117
Expenditure
Running Costs
Event supplies 11,655
5,414
Insurance (Parentkind) 140
128
Charity Donation 26
26
11,822
5,568
Charitable Expenditure - School Funding
Bookcase Y1-Y6 1,800
0
Books Y1-Y6 5,000
0
PE equipment 1,000
0
Trim Trail equipment 3,440
0
Xmas Cards 1,382
0
0
0
0
Other -
12,245
-
-
12,622
12,245
Total Expenditure 24,444
17,813
Net Surplus / (Deficit) 7,785
12,304
Balance Sheet as at 31 March 2023
2023 2022
£ £
Assets - Cash at Bank & In Hand
Bank Statement balance on 31 March 40,118 29,487
PayPal balance on 31 March - 2,739
Total Assets at 31 March 40,118 32,226
Liabilities at 31 March (14,453) (534)
Net Assets at 31 March 25,665 31,692
Unrestricted Reserves as at 31 March 25,665 31,692

CHARITY MMISSION Independent examiner's report on the accounts Report to the trusteesl members of On accounts for the year ended 31 /G&/i￿.L) Charity no (if any) [lo180& Set out on pages I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended Responsibilities and basls As the charity's trustees, you are responsible for the preparation of the of report accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust'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 examiner's rrhe charity's gross income exceeded £250,000 and l am qualified to statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below ') which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charibes (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 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. Please delete the words in the brackets if they do not apply. Signed: Date: 29 Is/iLt Name: Relevant professional qualification(s) or body (if any): CIM IER Oct 2018

Address: 11 r)J&•JNpGfv Onty C￿nplete rf exaTiner [￿e(IS to h￿NIght materi81 matter3 of concem (see CC32. Irths￿dent examination of chanty acC￿nts. direCti￿S and gUMdan￿ f(x examwws). Glve here brlef details of arry items that the examiner wishes to disclose. IER Oct 2018