2023-08-31-accounts

Charity number: 1110748

NEWTON PREP PTA

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

NEWTON PREP PTA

CONTENTS

	Page
Reference and Administrative Details of the Charity, its Trustees and Advisers	1
Trustees' Report	2 - 5
Independent Examiner's Report	6
Statement of Financial Activities	7
Balance Sheet	8
Notes to the Financial Statements	9 - 15

NEWTON PREP PTA

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023

Trustees Mr. Farouk Walji Mr. Steffen Goelkel Mr. Daniel John Beasley-Harling Mrs. Fiona Wallace Ms. Dovile Dalele Mrs. Melanie Master Ms. Anoushka Sandry Mrs. Gemma Desbarres Ms. Sara Gelfand Charity registered number 1110748 Principal office 149 Battersea Park Road London SW8 4BX

Page 1

NEWTON PREP PTA

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023

The Trustees present their annual report together with the financial statements of the Newton Prep PTA for the year 1 September 2022 to 31 August 2023. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. OBJECTIVES AND ACTIVITIES Newton Prep PTA's objectives are to:

1. Advance the children's education jointly with the Headmistress and School Council;

2. Raise money for the Newton Bursary Fund and other nominated charities;

3. Develop relationships between staff, parents and others associated with the school; and 4. 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)'.

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NEWTON PREP PTA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

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.

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. This year our support extended to Bursary Fund (£15,000), Macmillan Cancer Support Charity (£3,050), Plan International (£312) and Ice Cream Van for the school (£1,020).

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 (£623.59).

Finally, the sales of second-hand uniform came to a total of £11,730.25.

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. On 31 August 2023 this reserve stood at £60,996.1 (31 August 2022: £54,777.83) which are all unrestricted funds.

STRUCTURE, GOVERNANCE AND MANAGEMENT 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 coChairs, 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.

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NEWTON PREP PTA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

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.

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Constitution

Newton Prep PTA is a registered charity, number 1110748, and is constituted under a Trust deed.

c. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

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NEWTON PREP PTA

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• 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 adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They 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 order of the members of the board of Trustees on 6 October 2023 and signed on their behalf by:

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Mr. Steffen Goelkel
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NEWTON PREP PTA

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2023

Independent Examiner's Report to the Trustees of Newton Prep PTA ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2023.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable 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.

Signed:

Dated: 6 October 2023

Kolade Andrew Alli ACMA

10 Gatcombe Gardens

West End, Hampshire

SO18 3NA

Page 6

NEWTON PREP PTA

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

Note Income from: Donations and legacies 2 Total income Expenditure on: Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2023 £ 45,184 45,184 37,026 37,026 8,158 52,438 8,158 60,596	Total funds 2023 £ 45,184 45,184 37,026 37,026 8,158 52,438 8,158 60,596	Total funds 2022 £ 36,459
			36,459
			17,625
			17,625
			18,834
			33,604 18,834
			52,438

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

The notes on pages 9 to 15 form part of these financial statements.

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NEWTON PREP PTA

BALANCE SHEET AS AT 31 AUGUST 2023

			2023		2022
	Note		£		£
Fixed assets
			-		-
Current assets
Cash at bank and in hand		60,996		54,919
		60,996		54,919
Creditors: amounts falling due within one
year	6	(400)		(2,481)
Net current assets			60,596		52,438
Total assets less current liabilities			60,596		52,438
Net assets excluding pension asset			60,596		52,438
Total net assets			60,596		52,438
Charity funds
Restricted funds	7		-		-
Unrestricted funds	7		60,596		52,438
Total funds			60,596		52,438

The financial statements were approved and authorised for issue by the Trustees on 06 October 2023 and signed on their behalf by:

Mr. Steffen Goelkel

The notes on pages 9 to 15 form part of these financial statements.

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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.

1.2 Income

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

1.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

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.

1.4 Cash at bank and in hand

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

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. Accounting policies (continued)

1.5 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.

1.6 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

2. Income from donations and legacies	2. Income from donations and legacies
	Unrestricted funds Total Total General 2023 2022 £ £ £ 12,253 12,253 10,268 8,689 8,689 9,844 11,730 11,730 14,690 624 624 499 1,800 1,800 1,151 9,852 9,852 0 236 236 7 45,184 45,184 36,459
Christmas Fair - Income
Summer Fair - Income
Second Hand Uniform Sales - income
Donations
Quiz Night - Income
Other Income
Bank interest receivable

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

3. Expenditure on charitable activities

	3. Expenditure on charitable activities
		Unrestricted funds	Total Total
		General	2023 2022
		£	£ £
	PTA Donations/NSF/Bursary	15,000	15,000 600
	Food & Hospitality	320	320 0
	Summer Fair - expenses	8,841	8,841 8,070
	Second Hand Uniform Sales - costs	10	10 825
	Quiz Night - costs	0	0 180
	Christmas Fair - costs	5,057	5,057 4,125
	Donation to Plan International Charity	312	312 468
	PTA Association Memberships	0	0 128
	Other Payments	1,588	1,588 2,829
	Donation to Newton Prep for Teacher's Party	5,498	5,498 0
		37,026	37,026 17,625

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

4. Independent examiner's remuneration

	2023	2022
	£	£
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts	400	400

5. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL)

During the year ended 31 August 2023, no Trustee expenses have been incurred (2022 - £NIL) .

6. Creditors: Amounts falling due within one year

Other creditors Accruals and deferred income	2023 £ - 400 400	2022 £ 1,081 1,400
		2,481

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

7. Statement of funds

Statement of funds - current year

	Balance at 1			Balance at
	September			31 August
	2022	Income	Expenditure	2023
	£	£	£	£
Unrestricted funds
General Funds	52,438	45,184	(37,026)	60,596

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NEWTON PREP PTA

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

7. Statement of funds (continued)

Statement of funds - prior year

	Balance at			Balance at
	1 September			31 August
	2021	Income	Expenditure	2022
	£	£	£	£
Unrestricted funds
General Funds	33,604	36,459	(17,625)	52,438

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