**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.
- 1 -
## **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
- 2 -
## **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:
- 1 accounting records were not kept in respect of the trust as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 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
- 3 -
## **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|**Total**Unrestricted 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.
- 4 -
## **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**
- 5 -
## **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.
- 6 -
## **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|
- 7 -
## **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|
- 8 -
## **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.
- 9 -
## **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 ).
- 10 -
## **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.
- 11 -
## **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|**Total**General 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) .
- 12 -