Registration No. 06822977 (England and Wales) Charity No. 1129578
SCHOOL ME
(A Company Limited By Guarantee)
DIRECTORS' REPORT AND ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2023
SCHOOL ME
CONTENTS
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2 - 4 |
| Statement of financial activities | 5 |
| Charity balance sheet | 6 |
| Notes to the financial statements | 7 - 9 |
SCHOOL ME
LEGAL AND ADMINISTRATIVE INFORMATION
Constitution
School Me is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £10.
The company is a registered charity governed by its Memorandum and Articles of Association dated 18 February 2009.
Central Register of Charities No. 1129578 Company Register (England and Wales) No. 06822977
Directors and Trustees
The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
The trustees serving during the period and since the period end were as follows:
Firas Jabloun Ramla Jarrar Brahim Jrah Zied Kaffel Hanen Ben Atig
Aous Labbane resigned as a trustee on 17 November 2022.
Registered Office: 139 Leathwaite Road London SW11 6RW
Bankers
HSBC Bank Plc Canada Place Canary Wharf London E14 5AH
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SCHOOL ME
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023
The trustees present their report and the financial statements of the charity for the year ended 28 February 2023.
Legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the 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 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charitable company is registered under the name of School Me.
Structure, Governance and Management
Recruitment and appointment of trustees
Trustees are appointed for an initial term of three years. After this period the trustees retire by rotation and are eligible for re-election. Any vacancies arising are filled by the selection and appointment of suitable persons by the trustees. There shall be at least three trustees.
Due to the nature of the charity’s objectives being related to the education of students in Tunisia, the trustees seek to ensure that the board of trustees is made up of individuals from the area or individuals who have links with the area. The trustees believe that this gives the charity an understanding that enhances the benefits that it brings to the students.
Trustees induction and training
As a result of the selection process of the trustees, as indicated above, the trustees will already be aware of the charity and its objectives. Additionally new trustees are encouraged to meet senior trustees to discuss and familiarise themselves with the charity.
On taking up the role of trustees new members are provided with documentation on the obligations that they have under both UK Charity and Company Law.
Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those relating to operations and finances, and are satisfied that systems are in place to mitigate the charity’s exposure to the major risks.
Organisational structure
One of the trustees has been appointed by the trustees to manage the day-to-day operations of the charity. Trustees meetings were held during 2022/23 to discuss the running of the charity and its future development.
Any trustee may call a trustees meeting. No business shall be transacted at any meeting unless there are three trustees entitled to vote present. Decisions are passed in trustees meeting by the majority. In the case of an equality of votes then the chair shall have the casting vote in addition to any other vote they may have.
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SCHOOL ME
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023 (CONTINUED)
Objects and Activities
The objects of the charity are the advancement of education of students in Tunisia by providing and scholarships and other support towards educational expenses which they could not otherwise afford.
Achievements and Performance
School Me was granted charitable status on 18 February 2009.
During the period the company spent £5,466 in respect of school bags which were taken from the funds received in previous years in respect of this project.
These amounts are included within restricted funds.
Financial Review
During the period under review the charity recorded a surplus of £32,357. The net position of the charity for the period shows positive reserves of £48,957.
The charity received total donations of £49,078 and had total direct charitable expenditure totalling £16,756.
At the period the charity had £30 in restricted funds and £48,927 in unrestricted funds.
Investment policy
Other than retaining a level of funds to meet the reserve policy of the charity most of the charity’s funds are to be spent in the short term meeting the charity’s objectives so that there are few funds for long term investment. Having considered the options available the trustees have decided to invest available funds in short-term bank deposit accounts.
As available funds increase the trustees will review the investment policy to ensure that the returns that the charity receives is maximised whilst not detracting funds from its main objectives.
Reserves policy
The trustees have reviewed the charity's current needs for reserves in line with the guidance issued by the charity commission. The charity will maintain a reserve of unrestricted funds which are the free reserves of the charity at a level which equates to approximately 6 months unrestricted expenditure to cover administration and management and support costs. It is the intention of the trustees that this policy be reviewed on a regular basis.
Plans for Future Periods
During the coming 18 months the charity is looking to hold two fundraising events in order to raise the charity’s profile and increase the level of donations that the charity receives.
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SCHOOL ME
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 28 FEBRUARY 2023 (CONTINUED)
Trustees responsibilities in relation to the financial statements
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulation 2008 and the provisions of the Memorandum & Articles requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are responsible and prudent;
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sate whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Memorandum & Articles. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees have overall responsibility for ensuring that the charity has appropriate systems of internal control across the entire organisation. The systems of internal control are designed to provide reasonable but not absolute assurance against material misstatement or loss.
The trustees are responsible for the maintenance and integrity of the charity information included on the charity’s website in accordance with legislation in the United Kingdom.
By order of the trustees on November 2023.
Z Kaffel
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SCHOOL ME
STATEMENT OF FINANCIAL ACTIVITIES (including Income & Expenditure Account)
FOR THE YEAR ENDED 28 FEBRUARY 2023
| Total | Total | ||||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| General | Restricted | 2023 | 2022 | ||
| Notes | £ | £ | £ | £ | |
| Incoming resources | |||||
| Incoming resources from generated | funds | ||||
| Voluntary income - donations | 2 | 49,078 | - | 49,078 | 6,638 |
| Voluntary income – donations restricted 2 | - | - | - | 3,960 | |
| Investment income – bank interest | 35 | - | 35 | 1 | |
| Activities for generating funds: | |||||
| Fund Raising Events | 3 | - | - | - | - |
| ––––––– | ––––––– | ––––––– | ––––––– | ||
| Total incoming resources | 49,113 | - | 49,113 | 10,599 | |
| ––––––– | ––––––– | ––––––– | ––––––– | ||
| Resources expended | |||||
| Costs of generating funds | |||||
| Fund Raising Costs | 3 | - | - | - | 126 |
| Management and Administration | |||||
| of the charity | 4 | 1,268 | - | 1,268 | 2,131 |
| Charitable activities- unrestricted | 5 | 10,022 | - | 10,022 | 7,075 |
| Charitable activities– restricted | 5 | - | 5,466 | 5,466 | 8,867 |
| Governance costs | 7 | - | - | - | - |
| ––––––– | ––––––– | ––––––– | ––––––– | ||
| Total resources expended | 11,290 | 5,466 | 16,756 | 18,199 | |
| ––––––– | ––––––– | ––––––– | ––––––– | ||
| Net income/(expenditure) for | |||||
| the year | 8 | 37,823 | (5,466) | 32,357 | (7,600) |
| Transfers between funds | (5,096) | 5,096 | - | - | |
| ––––––– | ––––––– | ––––––– | ––––––– | ||
| 32,727 | (370) | 32,357 | (7,600) | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 16,200 | 400 | 16,600 | 24,200 | |
| ––––––– | ––––––– | ––––––– | ––––––– | ||
| Total funds carried forward | 48,927 | 30 | 48,957 | 16,600 | |
| ======== | ======== | ======== | ======== |
The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations.
There are no recognised gains and losses other than those passing through the Statement of Financial Activities.
The notes on pages 7-9 form part of these financial statements.
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SCHOOL ME
CHARITY BALANCE SHEET
AT 28 FEBRUARY 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Current Assets | |||
| Cash at bank and in hand | 48,957 | 16,600 | |
| _____ | _____ | ||
| Net Current Assets | 48,957 | 16,600 | |
| _____ | _____ | ||
| Total Assets Less Current | Liabilities | 48,957 | 16,600 |
| ======= | ======= | ||
| Unrestricted Funds | |||
| General | 8 | 48,927 | 16,200 |
| Restricted | 8 | 30 | 400 |
| –––––– | –––––– | ||
| Total Funds | 48,957 | 16,600 | |
| ======== | ======== |
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) (effective January 2015), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements were approved by the Trustees on November 2023 and signed on their behalf by :
……………………………………… Z Kaffel Trustee
The notes on pages 7-9 form part of these financial statements.
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SCHOOL ME
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2023
1. ACCOUNTING POLICIES
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) (effective January 2015), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102.
1.2 Company status
The company is a company limited by guarantee.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds comprise of funds donated to the charity for a specific purpose of the donor
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Incoming resources
All incoming resources are included in the Statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Gifts in kind donated for distribution are included at valuation and recognized as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised where there is no financial cost borne by a third party.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of the donation.
Income tax recoverable in relation to investment income is recognized at the time the investment income is receivable.
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SCHOOL ME
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2023 (CONTINUED)
1. ACCOUNTING POLICIES (continued)
1.5 Resources expended
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognized as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
2. Donations
During the period School Me received donations totalling £49,078.
3. Fundraising
These costs represent the monthly charges made by Just Giving.
4. Management and Administration of the charity
These costs relate to the charity’s website hosting, computer costs, delivery and storage charges and bank charges.
5. Charitable activities
School Me made grants during the period to students of £10,022 and provided school bags to schools at a cost of £5,466.
6. Trustees remuneration and staff costs
No trustees of School Me received any remuneration and there were no other staff costs during the period.
7. Governance costs
| Governance costs | ||
|---|---|---|
| 2023 | 2022 | |
| Professional fees | - | - |
| –––––– | –––––– |
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SCHOOL ME
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED
28 FEBRUARY 2023 (CONTINUED)
| 8. | Reserves | |||
|---|---|---|---|---|
| Restricted | General | |||
| Fund | Fund | Total | ||
| £ | £ | £ | ||
| Balance at 01 March 2022 | 400 | 16,200 | 16,600 | |
| Movement in funds for the year - net deficit | (5,466) | 37,823 | 32,357 | |
| Transfer between funds | 5,096 | (5,096) | - | |
| ––––––– | ––––––– | ––––––– | ||
| Balance at 28 February 2023 | 30 | 48,927 | 48,957 | |
| ======== | ======== | ======== |
The restricted funds are made up of the Amina Project of £30.
9.
Analysis of net assets between funds
| Restricted | General | ||
|---|---|---|---|
| Fund | Fund | Total | |
| £ | £ | £ | |
| Net current assets | 30 | 48,927 | 48,957 |
| ––––––– | ––––––– | ––––––– | |
| Balance at 28 February 2023 | 30 | 48,927 | 48,957 |
| ======== | ======== | ======== |
The restricted funds are all held in cash at bank.
10. Taxation
The company, being a registered charity, is not liable for corporation tax in respect of its operations for the period.
11. Control
There was no ultimate control held of the charity during the period.
12. Legal status of the Charity
School Me is a company limited by guarantee and has no share capital. The liability of each member in the event of winding-up is limited to £10.
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