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Charity Registered Number 1127285 |
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND
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REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st MARCH 2022
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND
Report of Trustees for the year ended 31st March 2022
The Trustees submit their annual report on the affairs of the Fund, together with the accounts for the year ended 31st March 2022.
Status of Trust
Hinchley Wood School Development Fund ("The Trust") is a charity (Reg No 1127285).
Trustees
The Trustees who have held office during the year were as follows:
Mr Aidan Fudge (re-appointed 17" July 2019) Mr Peter Drysdale (re-appointed 17" December 2020)
Mr Nigel Tarrant (resigned 15" July 2021)
Mr Martin Phelps (re-appointed 17" July 2019)
Mr Robert Mutchell (Chair of Finance & Resources Committee (re-appointed 17° December
2020)
Principal Place of Business
Hinchley Wood School (“The School”), Claygate Lane, Hinchley Wood, Surrey, KT10 OAQ,
Bankers
Nat West Bank, Surbiton Branch, 10 Victoria Street, Surbiton, KT6 4JY
Organisation of Trust
The Trustees determine the general policy of the Trust. The day-to-day management is delegated to the Headteacher, Ben Bartlett and the Director of Finance & Resources of the School, Mike Robeson.
Operational Policy
The policy continues to be to raise funds, which will be applied for the benefit of the School and its students. This is achieved largely via parental donations or by fundraising events.
Review of Activities
The main focus of the Trust during the year has been to support the School in providing new and improved facilities for students.
Financial Results and Reserves Policy
The Trust made an in year surplus of £4,976 (2020/21 surplus of £51,602). Taking into account the surplus brought forward of £207,883, this resulted in a net surplus carried forward of £212,859. The Trust policy for reserves is that all its assets are available for donation to the School, the distribution of which is defined by project activities as specified by the School.
Risk Management
With the Trust restricting its donations exclusively to the School and having no running costs, the Trustees’ view is that the Trust is not subject to any significant risks other than the security of any funds on deposit. These are held as a bank deposit or term deposits with Nat West Bank and the Trustees feel that they are as safe as reasonably possible.
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Constitutional Change The Trustees agreed a special resolution to amend the declaration of trust made on 3" December 2008 that as at July 2018 x-Officio post will be included on the board. ; SignedHol Pf Trustee Macww Lukces
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND
Statement of Trustees’ Responsibilities for the year ended 31st March 2022
The Trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the fund as at the end of the financial year and of the income and expenditure of the fund for that period. In preparing those financial statements, the Trustees are required to:
Select suitable accounting policies and apply them consistently
Make judgements and estimates that are reasonable and prudent
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the fund will continue to operate.
The Trustees are responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Fund and enable them to ensure that the financial statements comply with Accounting Standards. It is also their responsibility to safeguard the assets of the Fund and hence to take reasonable steps to prevent and detect fraud and other irregularities.
The Trustees are required to ensure that the funding is used only in accordance with the conditions attached to that funding.
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND
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Independent Examiner's report to the Trustees of Hinchley Wood Development Fund
| report to the trustees on my examination of the accounts of the above charity for the year to 31st March 2022, which are set out in pages 5 to 7 attached.
Responsibilities and basis of report
As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
! report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner’s statement
| have completed my examination.
| confirm that no material matters have come to my attention in connection with the examination that gives me cause to believe that in any material respect:
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a) the accounting records were not kept in accordance with section 130 of the Charities Act or
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b) the accounts did not comply with the accounting records or c) the accounts did not comply with the applicable requirements concerning the form and content of the 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 the independent examination.
| 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
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND BALANCE SHEET - 31st MARCH 2022 ~
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2022 2021
£ £
CURRENT ASSETS
Petty Cash 200 200 -
Cash at Bank and in Hand 212,859 207,883~
CURRENT LIABILITIES
Owed to HWS (200) (200) -
NET CURRENT ASSETS 212,359 207,883 -
TOTAL ASSETS £212,859 £207,883
CAPITAL AND RESERVES (Note 2)
Accumulated Surplus £212,859 £207,883 ~
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The notes on page 7 form part of this balance sheet
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND INCOME STATEMENT FOR YEAR ENDED 31st MARCH 2022
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2022 2021
£ £ £ £
INCOME
General Donations (inc. gift 99,113 106,198
aid/alumni tree)
School supported events 2,107
Total income 99,113 108,305
EXPENDITURE
Fundraising Consultancy Costs 0 0
Donations to HWS (Note 3) 94,061 56,690
Bank Charges 9 14
School supported events 68 tt)
Total Expenditure 94,138 56,704
Interest received 1 1
(DEFICIT) / SURPLUS FOR YEAR 4,976 51,602
SURPLUS BROUGHT FORWARD 207,883 156,281
SURPLUS CARRIED FORWARD £212,859 £207,883
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The notes on page 7 form part of this balance sheet
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HINCHLEY WOOD SCHOOL DEVELOPMENT FUND NOTES TO FINANCIAL STATEMENTS - 31st MARCH 2022
1. ACCOUNTING POLICIES
The principal accounting policies, which were adopted consistently in the preparation of the financial statements, are set out below.
Basis of accounting
The financial statements have been prepared in accordance with the historical cost convention.
Donations to HWS committed but not paid
Once the Trustees have committed to making a donation to HWS from unrestricted funds it is shown as a liability/ creditor until paid.
2. CAPITAL AND RESERVES
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2022 2021
£ £
Unrestricted Funds 212,859 207,883
£212,859 £207,883
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3. DONATIONS TO HWS
Total donations to the school have been formally approved to a sum £94,061, including the purchase of smart screens, the music quad revamp, stage lighting and replacement sewing machines. This compares with £56,690 for May 2020. The trustees are in the process of reviewing projects to allocate funds of around £72,500.
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