Charity registration number: 1110748
Newton Prep PTA
Annual Report and Financial Statements for the Year Ended 31 August 2022
Newton Prep PTA
Contents
| Contents | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 to 3 |
| Statement of Trustees' Responsibilities | 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 12 |
Newton Prep PTA
Reference and Administrative Details
Trustees
Dr Farouk Walji Mrs Victoria Chisholm Mrs Sophie Seeger Mrs Melanie Master Mrs Gemma Desbarres Ms Sara Gelfand Mr Steffen Goelkel Mrs Fiona Wallace Ms Anoushka Sandry
Principal Office
149 Battersea Park Road London SW8 4BX
Charity Registration Number
1110748
Independent Examiner
Kolade Andrew Alli ACMA KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End, Hampshire SO18 3NA
Page 1
Newton Prep PTA
Trustees' Report
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2022.
Objectives and activities
Newton Prep PTA's objectives are to:
-
Advance the children's education jointly with the Headmistress and School Council;
-
Raise money for the Newton Bursary Fund and other nominated charities;
-
Develop relationships between staff, parents and others associated with the school; and
-
Engage in activities which support the school.
The first, third and fourth of these objectives are advanced through discussion at committee meetings which take place once a term. All committee members may place items on the agenda, minutes are taken and actions agreed. These objectives are further advanced by the granting of a seat on the School Council to the PTA Chair. The broader parental body's input is achieved through once a term meetings of class representatives (elected annually at the AGM).
The second objective is achieved through a number of fundraising events which take place throughout the year.
The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
The major fundraising events are the Christmas and Summer fairs, second hand uniform sales held at least once a term, an annual quiz night and a biennial auction dinner. Each of the fundraising activities are hugely important not only for raising funds but also for developing relationships between the parent body, staff and others associated with the school.
In the wake of COVID-19, some of the usual and planned fundraising activities are still being worked out. Usually, we are able to report a wide and varied list of causes chosen by staff and pupils who we have been able to support with our fundraising. However, for this year our support was limited to Plan International (£429) and School Journey (£600).
The PTA was also able to raise money through Easyfundraising, a scheme which allow users to raise money for their nominated charity every time they shop online (£99.44).
Finally, the sales of second-hand uniform came to a total of £14,690.45.
Page 2
Newton Prep PTA
Trustees' Report
FINANCIAL REVIEW
Reserves
The PTA's only reserves are in the form of bank deposits, which are kept at a level so that events such as the fairs (for which almost all costs are incurred before the event and almost all the income is received on the day) can be organised.
Governing document
Newton Prep PTA was formed by and operates according to a constitution. All parents of children attending Newton Prep School are automatically members of Newton Prep PTA. Each year at an Annual General Meeting parents elect from amongst the members individuals to serve in the following Executive positions: two co-Chairs, Secretary, Treasurer, two Upper School Representatives and two Lower School Representatives. Each position is held for two years, with the intention being that approximately half the posts should fall vacant each year. Voting is by show of hands
On 31 August 2022 this reserve stood at £54,918.83 (31 August 2021: £36,084.57) which are all unrestricted funds.
The PTA Executive Committee is formed of the holders of these posts plus the following: the Chair of the School Council, the Headmistress, the Deputy Head, Upper School, and the Deputy Head, Lower School. Those committee members who have indicated their willingness to do so also serve as trustees of Newton Prep PTA.
The school's Deputy Head, Director of Studies and Finance Manager attend the PTA Committee on an ex officio basis but do not serve as trustees
The annual report was approved by the trustees of the charity on 31 October 2022 and signed on its behalf by:
----- Start of picture text -----
.........................................
----- End of picture text -----
......................................... Mrs Victoria Chisholm Trustee ......................................... Mr Steffen Goelkel Trustee
Page 3
Newton Prep PTA
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select 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;
-
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping 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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on 31 October 2022 and signed on its behalf by:
......................................... Mrs Victoria Chisholm Trustee ......................................... Mr Steffen Goelkel Trustee
Page 4
Newton Prep PTA
Independent Examiner's Report to the trustees of Newton Prep PTA
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2022 which are set out on pages 6 to 12.
Respective responsibilities of trustees and examiner
As the charity’s trustees of Newton Prep PTA 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 Newton Prep PTA'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 statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of Newton Prep PTA as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements 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 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.
...................................... Kolade Andrew Alli ACMA
KARE Financial Management Consultants Ltd 10 Gatcombe Gardens West End, Hampshire SO18 3NA
- 31 October 2022
Page 5
Newton Prep PTA
Statement of Financial Activities for the Year Ended 31 August 2022
| Statement of Financial Activities for the Year Ended 31 August 2022 |
Statement of Financial Activities for the Year Ended 31 August 2022 |
|---|---|
| Unrestricted funds Total 2022 Total 2021 |
|
| Note £ £ £ |
|
| Income and Endowments from: | |
| Charitable activities | 36,459 36,459 13,262 |
| Expenditure on: | |
| Charitable activities | (17,625) (17,625) (2,962) |
| Total expenditure | |
| (17,625) (17,625) (2,962) |
|
| Net income | |
| 18,834 18,834 10,300 |
|
| Net movement in funds | |
| 18,834 18,834 10,300 |
|
| Reconciliation of funds | |
| Total funds brought forward | |
| 33,604 33,604 23,304 |
|
| Total funds carried forward 8 |
|
| 52,438 52,438 33,604 |
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2021 is shown in note 8.
Page 6
Newton Prep PTA
(Registration number: 1110748) Balance Sheet as at 31 August 2022
| (Registration number: 1110748) Balance Sheet as at 31 August 2022 |
(Registration number: 1110748) Balance Sheet as at 31 August 2022 |
|---|---|
| 2022 2021 |
|
| Note £ £ |
|
| Current assets | |
| Cash at bank and in hand 6 |
54,919 36,085 |
| Creditors: Amounts falling due within oneyear 7 |
|
| (2,481) (2,481) |
|
| Netassets | |
| 52,438 33,604 |
|
| Funds of the charity: | |
| Unrestricted income funds | |
| Unrestricted funds | 52,438 33,604 |
| Total funds 8 |
|
| 52,438 33,604 |
The financial statements on pages 6 to 12 were approved by the trustees, and authorised for issue on 31 October 2022 and signed on their behalf by:
----- Start of picture text -----
.........................................
----- End of picture text -----
......................................... Mrs Victoria Chisholm Trustee ......................................... Mr Steffen Goelkel Trustee
Page 7
Newton Prep PTA
Notes to the Financial Statements for the Year Ended 31 August 2022
1 Accounting policies
Statement of compliance
The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Newton Prep PTA meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Exemption from preparing a cash flow statement
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Page 8
Newton Prep PTA
Notes to the Financial Statements for the Year Ended 31 August 2022
2 Income from charitable activities
| Unrestricted | |
|---|---|
| funds Total Total |
|
| General 2022 2021 |
|
| £ £ £ |
|
| Christmas Fair - Income | 10,268 10,268 - |
| Summer Fair - Income | 9,844 9,844 - |
| Second Hand Uniform Sales - income | 14,690 14,690 10,939 |
| Donations | 499 499 2,318 |
| Quiz Night - Income | 1,151 1,151 - |
| Bank interest receivable | 7 7 5 |
| 36,459 36,459 13,262 |
Page 9
Newton Prep PTA
Notes to the Financial Statements for the Year Ended 31 August 2022
3 Expenditure on charitable activities
| 3 Expenditure on charitable activities |
|||
|---|---|---|---|
| Unrestricted | |||
| funds | Total | Total | |
| General | 2022 | 2021 | |
| £ | £ | £ | |
| PTA Donations/NSF/Bursary | 600 | 600 | - |
| Subscriptions | - | - | 123 |
| Summer Fair - expenses | 8,070 | 8,070 | - |
| Second Hand Uniform Sales - costs | 825 | 825 | 45 |
| Quiz Night - costs | 180 | 180 | - |
| End of Year Ice Cream Truck | - | - | 780 |
| Christmas Fair - costs | 4,125 | 4,125 | - |
| Donation to Plan International Charity | 468 | 468 | 468 |
| Donation to Newton Prep for Teacher's | |||
| Party | - | - | 1,026 |
| PTA Association Memberships | 128 | 128 | - |
| Independent examiner's fee | 400 | 400 | 405 |
| Other Payments | 2,829 | 2,829 | 115 |
| 17,625 | 17,625 | 2,962 |
4 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 10
Newton Prep PTA
Notes to the Financial Statements for the Year Ended 31 August 2022
5 Taxation
The charity is a registered charity and is therefore exempt from taxation.
| 6 Cash and cash equivalents |
|
|---|---|
| 2022 2021 |
|
| £ £ |
|
| Cash at bank | 54,919 36,085 |
| 7 Creditors: amounts falling due within one year |
|
| 2022 2021 |
|
| £ £ |
|
| Other creditors | 1,081 1,081 |
| Accruals | 1,400 1,400 |
| 2,481 2,481 |
Page 11
Newton Prep PTA
Notes to the Financial Statements for the Year Ended 31 August 2022
| 2022 | |
|---|---|
| 8 Funds |
|
| Balance at 1 | |
| September Incoming Resources Balance at 31 |
|
2021 resources expended August 2022 |
|
| £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 33,604 36,459 (17,625) 52,438 |
|
| Balance at 1 | |
| September Incoming Resources Balance at 31 |
|
2020 resources expended August 2021 |
|
| £ £ £ £ |
|
| Unrestricted funds | |
| General | |
| 23,304 13,262 (2,962) 33,604 |
Page 12