## **Hitherfield PTA Financial Highlights 2023/2024**
The financial results for 2023/24 (financial year ended 31 March 2024) are presented at the AGM on 11 October 2024. Here are the key financial highlights:
- Total income generated = £34.9k
- Fundraising costs = £12k
- Fundraising surplus = £22.9k
- Charitable expenditure = £27k
- Deficit = £4k
The above figure shows a year-on-year increase in income. The total income generated shows an approx. £3k increase from the previous year. The fundraising costs have increased but not significantly. The fundraising surplus remains a significant and healthy figure of nearly £23k. The charitable expenditure shows at £27k, which include an invoice for approx. £13k issued in March 2023 (financial year 2022-23) whose cheque was cleared in September 2023 (financial year 202324).
the £27k of funding to Hitherfield Primary School in 2023/2024 have been allocated for the followings:
- Y1 Canopy £13.188
In addition to the above, the PTA funded reading and handwriting books, assessment materials and outdoor equipment which, as explained above, had been invoiced for during the financial year 2022/23 although funds only left our account in September 2023. Details below:
- £5k Reading books Y1-Y6
- £3k Handwriting books Y1-Y6
- £3k Assessment materials
- £2.9k Outdoor equipment Y1
As of 31 March 2024, the PTA continued to be in a strong financial position with reserves of nearly £36k, and the capacity to accommodate future funding requests from Hitherfield Primary School.
During the current financial year (2024-2025), the PTA has already provided, approved and paid for a further £29k of funding to Hitherfield Primary School for the followings:
- Astroturf replacement £26k
- Shakespeare workshop (Academic year 2023-24) £3k
In addition, we are still expecting two invoices, Y6 floor replacement and Panto, which were approved yet to be issued.
As of today, the level of reserves stands at approx. £26k (Panto and Y6 floor invoices to be detracted from this figure). 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:
- Wendy house in the nursery setting at approx. £1.5k
Due to the PTA exceeding the £25k Income threshold, the 2023-2024 accounts will require an independent examination. This process will be completed in the coming weeks before the accounts are filed with the Charity Commission.
A huge thank you to everyone who supports the PTA and to the volunteers who dedicate their time to help the committee members during events and fairs. The volunteers’ help remains hugely appreciated and essential for the successful outcome of each event. Thank you to the 2023/2024 PTA committee members who have dedicated their time and effort to find the best ways to raise money and support the school financially. As we all know, the financial support provided by the PTA is ever more important as schools such as Hitherfield face challenging funding gaps.
The statement of Income & Expenditure and the Balance Sheet for the Financial Year Ended 31 March 2024 is presented overleaf.
**Income & Expenditure for the year ended 31 March 2024**
|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|**Income & Expenditure for the year ended 31 March 2024**|
|---|---|---|---|---|---|---|---|---|---|
||||||**2023/24**||**2022/23**|||
||||||**£**||**£**|||
||||**Income**|||||||
||||Event Fundraising & Donations||31,498||31,625|||
|||||||||||
||||Easy fundraising||948||604|||
|||||||||||
||||Other income||-|||||
|||||||||||
||||Estate Agent boards||2,465||0|||
|||||||||||
||||**Total Income**||**34,911**||**32,229**|||
|||||||||||
|||||||||||
||||**Expenditure**|||||||
|||||||||||
||||**Running Costs**|||||||
||||Event supplies||11,832||11,655|||
||||Insurance (Parentkind)||140||140|||
||||Charity Donation||26||26|||
||||||**11,998**||**11,821**|||
|||||||||||
||||**Charitable Expenditure - School Funding**|||||||
|||||||||||
||||Y1 Canopy|13,188|||0|||
||||Reading books|5,000|||0|||
||||Handwriting books|3,000|||0|||
||||Assessment materials|3,000|||0|||
||||Outdoor Y1 equipment|2,855|||0|||
|||||||||||
|||||||||||
|||||||||||
||||Other|-|||12,622|||
|||||-||||||
|||||-||||||
|||||**27,043**|||**12,622**|||
|||||||||||
||||**Total Expenditure**|**39,341**|||**24,443**|||
|||||||||||
||||**Net Surplus / (Deficit)**|**- 4130**|||**7,786**|||
|||||||||||
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
||||**Balance Sheet as at 31 March 2024**|||||||
||||||**2024**||**2023**|||
||||||**£**||**£**|||
||||**Assets - Cash at Bank & In Hand**|||||||
||||Bank Statement balance on 31
March||35,987||40,118|||
||||PayPal balance on 31 March||-||0|||
||||**Total Assets at 31 March**||**35,987**||**40,118**|||
|||||||||||
||||**Liabilities at 31 March**||**(811)**||**(14,453)**|||
|||||||||||
||||**Net Assets at 31 March**||**35,176**||**25,665**|||
|||||||||||
||||**Unrestricted Reserves as at 31**
**March**||**35,176**||**25,665**|||
|||||||||||
|**Income**
Cash Inflows HSBC
PayPal Balance at 31 March 2023
Less PayPal Balance at 1 April 2021
Less takings for MacMillan (not PTA income)
Less takings for Ummah Welfare Trust (not PTA income)
Less Eid Fair Float re-banked
Less Xmas Fair Float re-banked
Less Summer Fair Float
**Total Income**
**Income per accounts**
Difference
**Expenditure**
Cash Outflows HSBC
Less Payment to MacMillan
Less payment to Ummah Welfare Trust (not PTA income)
Less Eid Fair Float
Less Xmas Fair Float
Less Summer Fair Float
**Total Expenditure**
**Expenditure per accounts**
Difference
**Assets**
HSBC Bank Account Balance
PayPal
**Liabilities**
Unpresented Cheques|**2023/2024**
42,853
0
0
(361)
(1,671)
(1,155)
(2,210)
(2,545)
**34,911**
**34,911**
(0)
(46,984)
361
1,671
1,155
2,210
2,545
**(39,041)**
**(39,041)**
0
**2024**
**2023**
35,987
40,118
0
0|
|---|---|
||**35,987**
**40,118**
(357)
(357)|
||**(357)**
**(357)**|
## **Net Assets**
|||
|---|---|
|**Net Assets**
**Reconciliation**
Opening Net Assets
Surplus / (Deficit)
Closing Net Assets
**Net Assets Per Accounts**
Difference|**35,630**
**39,760**|
||39,760
30,202
(4,131)
(10,814)|
||**35,630**
**19,388**|
||**35,630**
**39,760**
0
20,372|
Difference
CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's report on the
accounts
Report to the trusteesl
members of
Hitherfield PTA
On accounts for the year
ended
311031202
Charity no
(if any)
1102808
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 3110312024
Responsibilities and basis 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 trhe charity's gross income exceeded £25,000 and l am qualified to
statement undertake the examin'ation 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
conceming 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 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:
Io. i.loLr
Name:
ÉNJ I
Relevant professional
qualification(s) or body (if
any):
Ci Mli
IER
Oct 2018
Address:
71 tYJNNJIoNJ fvc Zi
Only complete if the examiner needs to highlight material matters of concern
(see CC32, Independent examination of charity accounts: directions and
guidance for examiners).
Give here brief details
of any items that the
examiner wishes to
disclose.
IER
Oct 2018