**Draft Financial Statements at 26 January 2024 at 10:59:25**
**Charity registration number 1115420**
## **CRESSEX COMMUNITY SCHOOL FUND**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Dr K Simmons Mr D Riddington Mr H Brown Mr K A Shabbir (Appointed 1 September 2022) **Charity number** 1115420 **Principal address** Holmers Lane High Wycombe Buckinghamshire HP12 4QA **Independent examiner** Azets Audit Services Suites B & D Burnham Yard London End Beaconsfield Buckinghamshire HP9 2JH
**Draft Financial Statements at 26 January 2024 at 10:59:25 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|
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
The trustees present their annual report and financial statements for the year ended 31 August 2023.
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 many school trips were organised for students across all year groups. The charity, through grants, supported a couple of team building trips, making them more affordable for all. The charity has continued to fundraise and receive grants and donations, which have enabled it to support the school with the provision of some additional resources including IT equipment, science equipment, sports equipment, DofE participation and in-school theatre performances.
## **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 gift aid from a previous donation this year, intended to support strategic developments. The Trustees used part of this funding for a staff end of year event, in recognition of the support the staff had provided students with this year. This is to support staff wellbeing and as a measure to retain staff so our students can have excellent teachers in their classrooms. 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 £52,476.
## **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 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **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: Dr K Simmons
Mr D Riddington Mr H Brown 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 £598 (2022: £711), 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: .........................
- 2 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 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 2023.
## **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**
Since the trust’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
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 London End Beaconsfield Buckinghamshire HP9 2JH United Kingdom
Dated: .........................
- 3 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**Unrestricted Unrestricted**
**funds**
**funds**
**general**
**designated**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
-
2,500
Charitable activities
**3**
-
58,460
Other trading activities
**4**
99,705
-
Investments
**5**
387
-
Other income
**6**
93,175
-
**Total income**
193,267
60,960
**Expenditure on:**
Raising funds
**7**
97,891
-
Charitable activities
**8**
1,750
54,690
Other expenditure
**12**
93,484
-
**Total expenditure**
193,125
54,690
**Net incoming resources**
**before transfers**
142
6,270
Gross transfers between
funds
886
(886)
**Net income for the year/**
**Net movement in funds**
1,028
5,384
Fund balances at 1 September
2022
649
45,414
**Fund balances at 31 August**
**2023**
1,678
50,798|**Total Unrestricted Unrestricted**
**funds**
**funds**
**general**
**designated**
**2023**
**2022**
**2022**
**£**
**£**
**£**
2,500
-
10,000
58,460
-
31,060
99,705
95,079
-
387
14
-
93,175
49,891
-
254,227
144,984
41,060
97,891
95,079
-
56,440
1,340
35,142
93,484
52,589
-
247,815
149,008
35,142
6,412
(4,024)
5,918
-
2,843
(2,843)
6,412
(1,181)
3,075
46,063
1,830
42,340
52,476
649
45,415|**Total**
**2022**
**£**
10,000
31,060
95,079
14
49,891|
|---|---|---|
|||186,044|
|||95,079|
|||36,482|
|||52,589|
|||184,150|
|||1,894
-|
|||1,894
44,170|
|||46,064|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **BALANCE SHEET**
## _**AS AT 31 AUGUST 2023**_
|**2023**
**Notes**
**£**
**Current assets**
Debtors
**14**
786
Cash at bank and in hand
63,649
64,435
**Creditors: amounts falling due within**
**one year**
**15**
(11,959)
Net current assets
**Income funds**
Unrestricted funds
Designated funds
**16**
50,798
General unrestricted funds
1,678|**£**
52,476
52,476
52,476|**2022**
**£**
1,665
53,843
55,508
(9,444)
45,414
650|**£**
46,064|
|---|---|---|---|
||||46,064|
||||46,064|
The financial statements were approved by the Trustees on .........................
.............................. Mr K A Shabbir **Trustee**
- 5 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **1 Accounting policies**
## **Charity information**
Cressex Community School Fund is a Unincorporated Charity.
## **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.
- 6 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **2 Donations and legacies**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**designated**|**designated**|
||**2023**|**2022**|
||**£**|**£**|
|Donations and gifts|2,500|10,000|
## **3 Charitable activities**
||**Educational**|Total|
|---|---|---|
||**activities**||
||**2023**|2022|
||**£**|£|
|UK trips|26,317|19,336|
|Other activities|32,143|11,724|
||58,460|31,060|
|**Other trading activities**|||
||**Unrestricted **|**Unrestricted**|
||**funds**|**funds**|
||**general**|**general**|
||**2023**|**2022**|
||**£**|**£**|
|Hire fees and deposits from weddings and other lettings|99,705|95,079|
## **4 Other trading activities**
## **5 Investments**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**general**|**general**|
||**2023**|**2022**|
||**£**|**£**|
|Interest receivable|387|14|
- 7 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **6 Other income**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**general**|**general**|
||**2023**|**2022**|
||**£**|**£**|
|Sundry income|591|2,042|
|Income for school budget|92,584|47,849|
||93,175|49,891|
## **7 Raising funds**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**general**|**general**|
||**2023**|**2022**|
||**£**|**£**|
|Hire fees and deposits from weddings and other lettings paid to school or|||
|returned to hirers|97,891|95,079|
||97,891|95,079|
- 8 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **8 Charitable activities**
||**Educational**|
**Educational**|
|---|---|---|
||**activities**|**activities**|
||**2023**|**2022**|
||**£**|**£**|
|UK trips|25,347|17,625|
|Other activities|29,343|17,517|
||54,690|35,142|
|Share of governance costs (see note 9)|1,750|1,340|
||56,440|36,482|
|**Analysis by fund**|||
|Unrestricted funds - general|1,750|1,340|
|Unrestricted funds - designated|54,690|35,142|
||56,440|36,482|
|**For the year ended 31 August 2022**|||
|Unrestricted funds - general|1,340||
|Unrestricted funds - designated|35,142||
||36,482||
## **9 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent examiner's fee
-
1,750
-
1,750
Analysed between
Charitable activities
-
1,750|**2023**
**£**
1,750
1,750
1,750|**2022**
**£**
1,340|
|---|---|---|
|||1,340|
|||1,340|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
- 9 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **11 Employees**
The average monthly number of employees during the year was:
||**2023**|**2022**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
## **12 Other expenditure**
||**Unrestricted **|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**general**|**general**|
||**2023**|**2022**|
||**£**|**£**|
|Transfers to school budget|92,725|47,849|
|Sundry expenses|759|4,740|
||93,484|52,589|
## **13 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **14 Debtors**
|**14**
**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Prepayments and accrued income
**15**
**Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2023**
**£**
786
**2023**
**£**
4,593
7,366
11,959|**2022**
**£**
1,665|
|||**2022**
**£**
6,021
3,423|
|||9,444|
Deferred income is included in the financial statements as follows:
The total deferred income at the year end was £5,617 (2022: £2,084).
- 10 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2023**_
## **16 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**|
||**2021**||||**2022**||||**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|UK trips|580|19,336|(17,625)|(1,003)|1,288|26,317|(25,347)|(1,579)|679|
|Other activities|17,114|11,724|(11,640)|(1,840)|15,358|32,143|(28,867)|693|19,327|
|Strategic Fund|24,645|10,000|(5,877)|-|28,768|2,500|(476)|-|30,792|
||42,339|41,060|(35,142)|(2,843)|45,414|60,960|(54,690)|(886)|50,798|
## 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.
- 11 -
**Draft Financial Statements at 26 January 2024 at 10:59:25 CRESSEX COMMUNITY SCHOOL FUND**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_
|**17**
**Analysis of net assets between funds**
**General fund**
**Designated**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31
August 2023 are
represented by:
Current assets/(liabilities)
1,678
50,798
1,678
50,798|**TotalGeneral fund**
**Designated**
**funds**
**2023**
**2022**
**2022**
**£**
**£**
**£**
52,476
650
45,414
52,476
650
45,414|**Total**
**2022**
**£**
46,064|
|---|---|---|
|||46,064|
## **18 Related party transactions**
There were no disclosable related party transactions during the year (2022 - none).
- 12 -