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2023-08-31-accounts

WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

CONTENTS

Page

WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

ORGANISATIONAL PROFILE FOR THE YEAR ENDED 31 AUGUST 2023

TRUSTEES

Jonathan Parr Robert Ryan Jen Yang Jason Coulloupas Laura Lotinga

REGISTERED OFFICE: William Patten Primary School Stoke Newington Church Street London N16 ONX

ACCOUNTANTS: Charles Osei, BSc (Hons), MSc, ACIE, AFA, ATA, MCIPP Flat 3, 11 Rochdale Way, Deptford London SE8 4LY

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28" June, 2024

WILLIAM PATTEN PRIMARY SCHOOL, PARENT TEACHER AND FRIENDS ASSOCIATION

Registered Charity Number 1103834

Treasurer's letter to the Trustees

For September 2022 to August 2023

Dear Trustees,

This letter summarises the fundraising activities and expenditure for the association’s financial year from September 2022 to August 2023.

Account filing

A submission to the Charity Commission is due by the end of June 2023.

Given that income has exceeded £25,000 this year, as outlined below, additional filings will be required. We will note that we will request support for this from the parent community prior to filing, but if we are unable to have a parent authorise the submission we will allocate funds to pay for this independently.

Note that the submission will include only the PTFA Lottery funds which are included as income once transferred to the main PTFA bank account, which has occurred this year.

A full cashbook is available for your review.

During 2022/23

At the start of the year the PTFA’s total funds available stood at £28,829. Comprised of monies held in the bank account, and as cash float held by the Treasurer.

Income: During the year we had income of £32,339:

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This represents a significant increase on the prior year (£16.4k).

Expenses: During the year we combined with the school to fund annual activities at the cost of £23,683.

These expenses are higher than the prior years (£9.4k).

With the primary change being the deferred timing of mealtime cover reimbursement.

At the end of the Financial year 2021/22

As at the end of the year the PTFA’s total funds available stood at £37,389

This comprised of £35,639 in the bank account, and £1,750 cash float held by the Treasurer. This excludes money in the Lottery bank account.

This was an increase of £8,560 over the year, which is to be expected given the focus of revenue raising in the final term, in response to the request from Karen and the board of Governors. Without these incoming funds we would have seen a deficit for the year.

The association is well placed to continue to fund activities into 2023 and beyond.

Banking

With the advent of new committee members we need to update the mandate at the bank to ensure these reflect the latest committee members as the Treasurer is the only active signatory

To support online updates to the bank account the below resolution is requested by Nat West

| would request that we resolve that:

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Additionally, where only one existing Authorised Signatory remains, any changes must be accompanied by a new Authorised Signatory and a signed copy of the minutes of the meeting giving authority to the new Authorised Signatory must be attached.

As secretary | propose that Robert Ryan is added as an Authorised Signatory and that this is approved in the meeting.

In conclusion

Sufficient funds are available to continue the funding of playtime co-ordinators and to support a return to further extra-curricular initiatives planned by the school.

Sincerely,

Jonathan Parr

Date: 28 June 2024

Treasurer, William Patten Primary School PTFA.

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Income/ Expenditure Review (£k)

As stated above for FY23 Income was £32.3k, with Expenditure of £23.7k

Note the income in 2020-21 was inflated due to the reported £8k of income from the lottery account with no fairs/ otherfundraising in that year.

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE TRUSTEES OF WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION

| report on the financial statements for the year ended 31 August 2023 set out on pages 8-12.

This report is made solely to the Trustees of William Patten Parents Teachers & Friends Association, as a body, in accordance with regulations made under section 145 of the Charities Act 2011 and Charity SORP . My work has been undertaken so that | might state to the Trustees matters | am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and Charity's trustees for my independent examination work, for this report, or for the statement | have given below.

Respective responsibilities of Trustees and independent examiner

As charity trustees, for the purposes of charity law, are responsible for the preparation of the financial statements, the Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

| report in respect of my examination of the Charity's accounts carried out:-

a) examine the accounts under section 145 of the 2011 Act;

b) follow the procedures laid down in the general Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and

c) state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity, and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequenily no opinion is given as to whether the accounts present a “true and fair view” and the reports limited to those matters set out in the statement on the next page.

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

INDEPENDENT EXAMINER'S REPORT ON THE FINANCIAL STATEMENTS TO THE TRUSTEES OF WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

----- Start of picture text -----
2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
Charles Osei, BSc (Hons), MSc, ACIE, AFA, ATA,MCIPP 29Date 0.0...[Ob( 24
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Flat 3, 11 Rochdale Way Deptford London SE8 4LY

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

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BALANCE SHEET
AS AT 31 AUGUST 2023 A
Notes 2022/23 2021/22 4
_ £ £
Fixed Assets - ss
Current Assets
Cash at Bank and in hand 2 37,903 26,983
Creditors: Amount N\ tt One Year
Other Creditors 3 (2,264) -
Net Assets/Liabilities 35,639 26,983
Reserves
General Funds 35,639 26,983
Restricted Funds: - -
35,639 26,983
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Approved by the Management Committee On —....... 2... eeeeee eee teeter eee

and signed on their behalf by:

Jonathan Paar Treasurer

The notes on pages 10-12 form part of these financial statements.

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

2022/23 2021/22
Unrestricted Restricted
Notes Funds Funds Total Funds Total Funds
aEEE EE EE
Resources Arising
Incomefrom Charitable Activities 4 32,339 - 32,339 16,400
Total Income 32,339 0 32,339 16,400
Direct Charitable Expenditure 5 23,683 - 23,683 9,400
Total Expenditure 23,683 - 23,683 9,400
Resources retained forfurther use 8,656 - 8,656 7,000
Transfer between Funds
Net Movement in Funds
Reconciliations of Funds
Broughtforward 01/09/2022 26,983 - 26,983 19,983
Carriedforward31/08/2023 35,639 - 35,639 26,983

All income and expenditure derive from continuing activities

The Statement of Financial Activities includes gains and losses recognised in the year.

The notes on pages 10-12 form part of these financial statements.

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting Policies

Basis of Preparation.

These accounts have been prepared on an accrual basis and include income and expenditure as they are earned or incurred, rather than as cash received or paid. Reference to the "Charities SORP" refers to the Charites SORP (FRS 102): Accounting and Reporting by Charities: 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. 2nd edition effective 1 January 2019.

1a. Income

All income is recgnised once the Charity has entitllement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not explended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

1b. Expenditure

Expenditure is recognised once there is alegal or consrtructive obligation to transfer ecenomic benefit to a third party, it is possible that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1c. Government grants

Government grants are credited to the Statement of financial activities as the related expenditure is incurred.

The notes on pages 10-12 form part of these financial statements.

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered Charity No. 1103834

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

1d. Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule6 of trhe Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exztent that such income or gains are applied exclusively to charitable purposes.

1e. Debtors

Trade and other debtors are rcognised at the settlement amount. Prepayments are valued at amount prepaid.

1f. Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short matuity of three months or less from the date of acquisition or openinig of the deposit or similar account.

1g. Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1h. Financial Instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the excception of bank loans which are susequently measured at amortised cost using the effective interest method.

1i. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Charity does not currently have any significant accounting estimates or areas of judgement.

1j. Related Party Disclosures

There were no related pary transactions for the year 31 August 2023.

The notes on pages 10-12 form part of these financial statements.

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WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA)

Registered CharityNo. 1103834

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023

2 Cash at Bank and in Hand

Cash at Bank and Hand CAF Bank Strip Payments Total

2022/23 2021/22
£ £
37,389 26,983
495 0
19 0
37,903 26,983

3 Creditors

Independent Examiner fees Other Creditors Total Current Liabilities

2022/23 2021/22
Amounts Due within One Year £ £
500 0
1,764 0
2,264 0

4 Incoming Resources

Incoming Resources
Unrestricted Restricted 2022/23 2021/22
£ £ £ £
Donations 13,363 - 13,363 -
Quiz 1,210 - 1,210 -
Fair 15,228 - 15,228 16,400
Just Giving 1,012 - 1,012 -
Auction
TotalCapitalProjectIncome		 1,525
32,339		 -
-		 1,525
32,339		 -
16,400

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5 Resources Expended
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Resources Expended Unrestricted Restricted 2022/23 2021/22
£ £ £ £
Quooker 1,700 - 1,700 -
FFS 14,407 - 14,407 9,400
Fair Costs 1,574 - 1,574 -
Noticeboard
Year 6 Activities		 2,950
2,733		 -
-		 2,950
2,733
Operating Costs
Total		 320
23,683		 -
-		 320
23,683		 -
9,400

The notes on pages 10-12 form part of these financial statements.

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