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 - 1 Legal and Administrative Details - 2-5 Report of Trustees - 6-7 Independent Examiner's report - 8 Balance Sheet - 9 Statement of Financial Activities - 10-12 Notes to the Accounts 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 4 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: - e The majority of this income was from the winter and summer fairs of £15.2k, which also included proceeds from cake and ice-cream sales. Some expenses are due against this income. - e Asignificant new stream of income was from the direct donation campaign launched in the summer term, which raised £13.4k. This is subject to gift aid and efforts will be made to claim this back. - e Further just giving donations associated with activity week raise £1k e Wereceived approx. £1.2k from the Quiz nights that we have begun to run post Covid, with additional auction income of £1.5k 2 - e We receive approx. £1.5k from a series of fundraising events including bake sales/ ice-cream after school - e Further income was received by parents participating in the lottery. However these funds will remain in the lottery account and will be recognised as income in the year that this is transferred to the PTFA account. ## 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. - e £14.4k mealtime cover (Fit for Sport) which has returned following lower levels during Covid. This includes some expenses that were incurred in the prior year, although costs for the summer term are expected in the following years accounts. - e £1.7k to provide Quooker and drinking facilities in staff room - e £3k to pravide new electronic noticeboard - e £2.7k funding for year 6 activities for departing students - e £1.5k of costs incurred to support the fairs (so to be offset against the income above) for cost of materials (food and bar) and cost of entertainment (bouncy castle, dunk tank, grotto) - e £0.3k other operating costs, including PTFA insurance and lottery expenses. ## 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: 3 - e if we add or remove Authorised Signatories in the “Add or Remove Authorised Signatories” section on the “About your request” page of this form, the Bank will update our mandate accordingly for the accounts we specify in thig form's “About your business” section - e if we change igning Rules in the “Change the Signing Rules on the Mandatege on the “Abou r request’ page of this form, the Bank will update our ma accordingly for the accounts we specify in this form's “About your business” section - e and the current mandate will continue as amended. 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. 4 ## 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. **----- Start of picture text -----**
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5 ## 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. 6 ## 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: - 1) which gives me reasonable cause to believe that in any material respect the requirements - a) to keep accounting records in accordance with Section 130 of the Charities Act; and - b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act ## 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 7 ## WILLIAM PATTEN PARENTS TEACHERS & FRIENDS ASSOCIATION (PTFA) ## Registered Charity No. 1103834 **----- Start of picture text -----**
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. 8 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. 9 ## 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. 10 ## 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. 11 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| **----- Start of picture text -----**
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. 12