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2022-08-31-accounts

Charity registration number 1115420

CRESSEX COMMUNITY SCHOOL FUND

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

CRESSEX COMMUNITY SCHOOL FUND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Dr K Simmons Mr D Riddington Mr H Brown

Mr K A Shabbir

(Appointed 1 February 2022) (Appointed 1 September 2022)

Charity number 1115420

Principal address

Independent examiner

Holmers Lane High Wycombe Buckinghamshire HP12 4QA

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 2022

The trustees present their annual report and financial statements for the year ended 31 August 2022.

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 students.

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 school trips were able to take place again at a similar level to that pre-Covid. The charity has continued to support the school by funding some additional resources including library books, science equipment and an in-school theatre performance.

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 £10,000 this year, intended to support strategic developments. The Trustees used part of this funding for an event to promote the co-operative values that the School subscribes to with co-operative partners, to increase the opportunities available to our students. The Trustees will continue to give due consideration to other purpose(s) that these much-valued donations can be put towards.

At the year end total unrestricted funds were £46,064.

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 2022

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 (Resigned 31 August 2022) Mr J Pettit (Resigned 31 August 2022) Dr K Simmons Mr E Parry (Resigned 23 November 2021) Mr D Riddington Mr H Brown (Appointed 1 February 2022) Mr K A Shabbir (Appointed 1 September 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 £711 (2021: £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' report was approved by the Board of Trustees.

Mr K A Shabbir

Trustee Dated: 14 March 2023

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 2022.

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 United Kingdom

Dated: 25 April 2023

CRESSEX COMMUNITY SCHOOL FUND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted Unrestricted
funds
funds
general
designated
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
2
-
10,000
Charitable activities
3
-
31,060
Other trading activities
4
95,079
-
Investments
5
14
-
Other income
6
49,891
-
Total income
144,984
41,060
Expenditure on:
Raising funds
7
95,079
-
Charitable activities
8
1,340
35,142
Other expenditure
12
52,589
-
Total expenditure
149,008
35,142
Net (outgoing)/incoming
resources before transfers
(4,024)
5,918
Gross transfers between
funds
2,843
(2,843)
Net (expenditure)/income for
the year/
Net movement in funds
(1,181)
3,075
Fund balances at 1 September
2021
1,830
42,339
Fund balances at 31 August
2022
650
45,414		 Total Unrestricted Unrestricted
funds
funds
general
designated
2022
2021
2021
£
£
£
10,000
-
5,014
31,060
-
21,162
95,079
20,794
-
14
12
-
49,891
57,932
-
186,044
78,738
26,176
95,079
20,794
-
36,482
1,255
18,778
52,589
57,479
-
184,150
79,528
18,778
1,894
(790)
7,398
-
1,042
(1,042)
1,894
252
6,356
44,169
1,578
35,983
46,064
1,830
42,339		 Total
2021
£
5,014
21,162
20,794
12
57,932
104,914
20,794
20,033
57,479
98,306
6,608
-
6,608
37,561
44,169

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 2022

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		 2022
£
1,665
53,843
55,508
(9,444)
45,414
650		 £
46,064
46,064
46,064		 2021
£
915
50,556
51,471
(7,302)
42,339
1,830		 £
44,169
44,169
44,169

The financial statements were approved by the Trustees on 14 April 2023

Mr K A Shabbir Trustee

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 amounts 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 2022

2 Donations and legacies

Unrestricted Unrestricted
funds funds
designated designated
2022 2021
£ £
Donations and gifts 10,000 5,014

3 Charitable activities

Educational Total
activities
2022 2021
£ £
UK trips 19,336 1,127
Other activities 11,724 20,035
31,060 21,162
Other trading activities
Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Hire fees and deposits from weddings and other lettings 95,079 20,794

4 Other trading activities

5 Investments

Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Interest receivable 14 12

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

6 Other income

Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Sundry income 2,042 774
Income for school budget 47,849 57,158
49,891 57,932
Raising funds
Unrestricted Unrestricted
funds funds
general general
2022 2021
£ £
Hire fees and deposits from weddings and other lettings paid to school or
returned to hirers 95,079 20,794
95,079 20,794

7 Raising funds

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

8 Charitable activities

Educational
Educational
activities activities
2022 2021
£ £
UK trips 17,625 1,213
Other activities 17,517 17,565
35,142 18,778
Share of governance costs (see note 9) 1,340 1,255
36,482 20,033
Analysis by fund
Unrestricted funds - general 1,340 1,255
Unrestricted funds - designated 35,142 18,778
36,482 20,033
For the year ended 31 August 2021
Unrestricted funds - general 1,255
Unrestricted funds - designated 18,778
20,033

9 Support costs

Support
costs
Governance
costs
£
£
Independent examiner's
fee
-
1,340
-
1,340
Analysed between
Charitable activities
-
1,340		 2022Support costs Governance
costs
£
£
£
1,340
-
1,255
1,340
-
1,255
1,340
-
1,255		 2021
£
1,255
1,255
1,255

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 2022

11 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

12 Other expenditure

Unrestricted Unrestricted
funds funds
general general
2022 2021
Transfers to school budget 47,849 57,158
Sundry expenses 4,740 321
52,589 57,479
13 Debtors
2022 2021
Amounts falling due within one year: £ £
Prepayments and accrued income 1,665 915
14 Creditors: amounts falling due within one year
2022 2021
£ £
Other creditors 6,021 5,038
Accruals and deferred income 3,423 2,264
9,444 7,302

Deferred income is included in the financial statements as follows:

The total deferred income at the year end was £2,084 (2021: £1,050).

CRESSEX COMMUNITY SCHOOL FUND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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
2020 2021 2022
£ £ £ £ £ £ £ £ £
UK trips 825 1,127 (1,213) (159) 580 19,336 (17,625) (1,003) 1,288
Other activities 15,527 20,035 (17,565) (883) 17,114 11,724 (11,640) (1,840) 15,358
Strategic Fund 19,631 5,014 - - 24,645 10,000 (5,877) - 28,768
35,983 26,176 (18,778) (1,042) 42,339 41,060 (35,142) (2,843) 45,414

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

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 2022

16
Analysis of net assets between funds
General fund
Designated
funds
2022
2022
£
£
Fund balances at 31
August 2022 are
represented by:
Current assets/(liabilities)
650
45,414
650
45,414		 Total General fund
Designated
funds
2022
2021
2021
£
£
£
46,064
1,830
42,339
46,064
1,830
42,339		 Total
2021
£
44,169
44,169

17 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).