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2021-08-31-accounts

Charity Registration No. 1115420

CRESSEX COMMUNITY SCHOOL FUND

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

CRESSEX COMMUNITY SCHOOL FUND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr D Hood Mr J Pettit Dr K Simmons Mr D Riddington Mr H Brown (Appointed 1 February 2022)

Charity number 1115420 Principal address Holmers Lane High Wycombe Buckinghamshire HP12 4QA Independent examiner Azets Audit Services Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH

CRESSEX COMMUNITY SCHOOL FUND

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 12

CRESSEX COMMUNITY SCHOOL FUND

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The trustees present their report and financial statements for the year ended 31 August 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's governing document, the Charities Act 2011 and “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)".

Objectives and activities

The object of the charity is to advance the education of the students of Cressex Community School by providing or assisting in the provision of educational, recreational and other charitable facilities in augmentation of such facilities financed by the local education authority or Department for Education. In furtherance of this object the trustees may undertake activities which promote the charitable work of the school and further the education and advancement in life of the student s.

Aims of the Charity

The aims of the charity are to raise funds and receive contributions in order to provide services and facilities to the students of Cressex Community School with the aim of advancement of education.

In particular, this is done through the providing of funds for school trips, extra curricular activities and activity days.

The trustees have had regard to the Charity Commission guidance on public benefit.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Achievements and performance

For this reporting period the Covid 19 pandemic meant that school trips were unable to take place. The charity has continued to support the school to make essential equipment available to students and staff to facilitate home learning and revision during the pandemic.

Financial review

It is the Trustee’s view that it is prudent to ensure that there are sufficient free reserves to provide financial flexibility throughout the year. The school was fortunate to receive a donation of £20,000 during the previous year initially intended to support strategic developments but due to Covid19 if required it could be used more flexibly to support students’ learning. During the current year, the associated gift aid on the donation was received. The Trustees will give due consideration to the purpose(s) that this much valued donation can be put towards.

At the year end total unrestricted funds were £44,169.

Risks

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

CRESSEX COMMUNITY SCHOOL FUND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Structure, governance and management

Cressex Community School Fund registered as a charity on 19 July 2006. The charity continued the activities of the non-registered Cressex Community School Fund on the 1st September 2006. The number assigned to the charity is 1115420.

Cressex Community School Fund is constituted under a Declaration of Trust dated 11 May 2006.

The principal address of the charity is Holmers Lane, High Wycombe, Buckinghamshire. HP12 4QA.

Trustees

The trustees who served during the year and up to the date of signature of the financial statements were: Mr D Hood

Mr J Pettit Dr K Simmons Mr E Parry (Resigned 23 November 2021) Mr D Riddington Mr H Brown (Appointed 1 February 2022)

Recruitment and Appointment of Trustees

Trustees are appointed from members of the governing body and staff of the school, by the school governing body. The Declaration of Trust does not state a minimum or maximum number of trustees.

Induction and Training of Trustees

As trustees are recruited on the basis of their position at the school, very little training is required.

Funds held as custodian trustee

At the balance sheet date, the Fund holds funds as a custodian for The Cressex Co-operative Learning Trust (Company No. 07207094).

The purpose of the Cressex Co-operative Learning Trust is to advance the education of the students at Cressex Community School, to advance the education of other members of the community and otherwise to benefit the community. It is intended that the curriculum and ethos of the school will place emphasis on, and include a commitment to students learning about, the Co-operative values of self-help, self-responsibility, democracy, equality, equity, solidarity, honesty, openness, social responsibility and caring for others with the aim of encouraging all students to become better citizens, not only while they are students but during the rest of their lives.

The funds held total £724, and are held within the Fund's bank accounts.

The Trust has its own ledger within the accounting software, to segregate the assets from the Fund's assets.

The trustees' r eport was approved by the Board of Trustees.

Mr D Hood

Trustee Dated: 13 February 2022

CRESSEX COMMUNITY SCHOOL FUND

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CRESSEX COMMUNITY SCHOOL FUND

I report to the trustees on my examination of the financial statements of Cressex Community School Fund (the trust) for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all 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 financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with 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:

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 financial statements to be reached.

Mr C J Nisbet FCA Azets Audit Services

Suites B & D Burnham Yard Beaconsfield Bucks HP9 2JH

Dated: 17 February 2022

CRESSEX COMMUNITY SCHOOL FUND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Unrestricted Unrestricted
funds
funds
general d esignated
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
2
-
5,014
Charitable activities
3
-
21,162
Other trading activities
4
20,794
-
Investments
5
12
-
Other income
6
57,932
-
Total income
78,738
26,176
Expenditure on:
Raising funds
7
20,794
-
Charitable activities
8
1,255
18,778
Other expenditure
12
57,479
-
Total resources
expended
79,528
18,778
Net (outgoing)/
incoming resources
before transfers
(790)
7,398
Gross transfers
between funds
1,042
(1,042)
Net income for the year/
Net movement in funds
252
6,356
Fund balances at 1
September 2020
1,578
35,983
Fund balances at 31
August 2021
1,830
42,339		 TotalUnrestricted Unrestricted
funds
funds
general
d esignated
2021
2020
2020
£
£
£
5,014
-
20,000
21,162
-
33,790
20,794
75,230
-
12
95
-
57,932
9,460
-
104,914
84,785
53,790
20,794
75,230
-
20,033
1,200
30,419
57,479
10,215
369
98,306
86,645
30,788
6,608
(1,860)
23,002
-
1,433
(1,433)
6,608
(427)
21,569
37,561
2,005
14,414
44,169
1,578
35,983		 Total
2020
£
20,000
33,790
75,230
95
9,460
138,575
75,230
31,619
10,584
117,433
21,142
-
21,142
16,419
37,561

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

CRESSEX COMMUNITY SCHOOL FUND

BALANCE SHEET

AS AT 31 AUGUST 2021

Notes
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Income funds
Unrestricted funds
Designated funds
15
General unrestricted funds		 2021
£
915
50,556
51,471
(7,302)
42,339
1,830		 £
44,169
44,169
44,169		 2020
£
4,917
37,277
42,194
(4,633)
35,983
1,578		 £
37,561
37,561
37,561

The financial statements were approved by the Trustees on 13 February 2022

Mr D Hood Trustee

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the trust's governing document, the Charities Act 2011 and “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 trust is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the trust . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are determined by the location and type of the activity carried out.

1.4 Incoming resources

Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Income from other trading activities comes from hire fees for weddings and other lettings. These are receipts generated on behalf of the school budget. This income also includes deposits received.

Income from charitable activities is received from parents or guardians of pupils at the school and is included in the year in which it relates to.

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Charitable activities include all costs associated to a particular activity.

Governance costs comprise of costs involving public accountability of the charity and its compliance with regulation and good practice.

After the date of the event (wedding or other letting), the hiring fee is transferred to the school budget and the deposit held (less retentions) is returned to the hirer.

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

2 Donations and legacies

Unrestricted Unrestricted
funds funds
d esignated d esignated
2021 2020
£ £
Donations and gifts 5,014 20,000
See Note 15 for further details of the £20,000 donation received.

3 Charitable activities

Educational
activities
2021
£
UK trips
1,127
Other activities
20,035
21,162		 Total
2020
£
22,060
11,730
33,790

4 Other trading activities

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Hire fees and deposits from weddings and other lettings 20,794 75,230

5 Investments

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Interest receivable 12 95

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

6 Other income

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Sundry income 774 3,005
Income for school budget 57,158 6,455
57,932 9,460

7 Raising funds

Unrestricted Unrestricted
funds funds
general general
2021 2020
£ £
Hire fees and deposits from weddings and other lettings paid to school or
returned to hirers 20,794 75,230
20,794 75,230

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

8 Charitable activities

UK trips
Other activities
Share of governance costs (see note 9)
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
For the year ended 31 August 2020
Unrestricted funds - general
Unrestricted funds - designated
Support costs
Support
costs
Governance
costs
£
£
Independent examiner's
fee
-
1,255
-
1,255
Analysed between
Charitable activities
-
1,255		 Educational
activities
Educational
activities
2021
2020
£
£
1,213
20,104
17,565
10,315
18,778
30,419
1,255
1,200
20,033
31,619
1,255
1,200
18,778
30,419
20,033
31,619
1,200
30,419
31,619
2021
Support
costs
Governance
costs
2020
£
£
£
£
1,255
-
1,200
1,200
1,255
-
1,200
1,200
1,255
-
1,200
1,200

9 Support costs

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

11 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Total - -
12 Other expenditure
Unrestricted Unrestricted Unrestricted Total
funds funds funds
general general d esignated £
2021 2020 2020 2020
Transfers to school budget 57,158 6,303 - 6,303
Sundry expenses 321 3,912 369 4,281
57,479 10,215 369 10,584
13 Debtors
2021 2020
Amounts falling due within one year: £ £
Other debtors - 4,865
Prepayments and accrued income 915 52
915 4,917
14 Creditors: amounts falling due within one year
2021 2020
£ £
Other creditors 5,038 3,459
Accruals and deferred income 2,264 1,174
7,302 4,633
Deferred income is included in the financial statements as follows:

The total deferred income at the year end was £ 1,050 (20 20 : £ nil ).

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

15 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 September resources expended 1 September resources expended 31 August
2019 2020 2021
£ £ £ £ £ £ £ £ £
UK trips 600 22,060 (20,103) (1,732) 825 1,127 (1,213) (159) 580
Other activities 13,814 11,730 (10,315) 298 15,527 20,035 (17,565) (883) 17,114
Strategic Fund - 20,000 (369) - 19,631 5,014 - - 24,645
14,414 53,790 (30,787) (1,434) 35,983 26,176 (18,778) (1,042) 42,339

UK trips, overseas trips and other activities

Deposits are received from parents and guardians for trips and activities which occur in the next academic year. These amounts received are held in a designated fund until the event has occurred.

Strategic Fund

During the year ended 31st August 2020 a donation of £20,000 was received, the gift aid on this donation of £5,014 was received during the year to 31 August 2021. This fund has been set up and will be used to support strategic tasks such as the preparation of funding proposals to external bodies, undertake enabling work of a strategic nature, to facilitate other strategic or facilities developments which will be to the betterment of the Cressex Community School, its staff and its students.

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

16
Analysis of net assets between funds
General
fund
Designated
funds
2021
2021
£
£
Fund balances at 31
August 2021 are
represented by:
Current assets/
(liabilities)
1,830
42,339
1,830
42,339		 TotalGeneral fund Designated
funds
2021
2020
2020
£
£
£
44,169
1,578
35,983
44,169
1,578
35,983		 Total
2020
£
37,561
37,561

17 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .