Charity registration number 1143885 ## FRIENDS OF GODSTOWE # ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ## FRIENDS OF GODSTOWE ## LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr C Fellowes Mrs S North Mrs P Ladkin-Brand Mrs L Trier-Poulsen Mrs C Wiseman-Clarke Mrs K Russell Miss M Grainger Mr T Weiss Mrs E Van Der Zee-Teeken Charity number 1143885 Principal address Godstowe Preparatory School Shrubbery Road High Wycombe HP13 6PR Independent examiner Affinity Associates Limited 11/12 Hallmark Trading Centre Fourth Way Wembley Middlesex HA9 0LB ## FRIENDS OF GODSTOWE ## CONTENTS ||Page| |---|---| |Trustees' report|1| |Independent examiner's report|2| |Statement of financial activities|3| |Balance sheet|4| |Notes to the financial statements|5 - 8| ## FRIENDS OF GODSTOWE ## 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 Charity'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 Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. The objectives of the Charity is to advance the education of pupils in the school, in particular by: Developing effective relationships between staff, parents and others associated with the school; Engaging in activities or providing facilities or equipment which support the school and advance the education of the pupils. ## Achievements and performance ## Financial review The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## Structure, governance and management Governing document The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity. The Trustees who served during the year and up to the date of signature of the financial statements were: Mr C Fellowes Mrs S North Mrs P Ladkin-Brand Mrs L Trier-Poulsen Mrs C Wiseman-Clarke Mrs K Russell Miss M Grainger Mr T Weiss Mrs E Van Der Zee-Teeken The Trustees' report was approved by the Board of Trustees. .............................. Mr C Fellowes Trustee Date: ............................................. - 1 - ## FRIENDS OF GODSTOWE ## INDEPENDENT EXAMINER'S REPORT ## TO THE TRUSTEES OF FRIENDS OF GODSTOWE I report to the Trustees on my examination of the financial statements of Friends of Godstowe (the Charity) for the year ended 31 August 2022. ## Responsibilities and basis of report As the Trustees of the Charity 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 Charity’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 Charity 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 Mukund Amin Affinity Associates Limited 11/12 Hallmark Trading Centre Fourth Way Wembley Middlesex HA9 0LB Dated: ......................... - 2 - ## FRIENDS OF GODSTOWE ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT ## FOR THE YEAR ENDED 31 AUGUST 2022 |Unrestrict
ed
funds
2022
Note
s
£
Income from:
Donations and legacies
3
28,610
Expenditure on:
Raising funds
4
16,434
Charitable activities
5
4,793
Total expenditure
21,227
Net income for the year/
Net movement in funds
7,383
Fund balances at 1 September 2021
32,409
Fund balances at 31 August 2022
39,792|Unrestrict
ed
funds
2022
Note
s
£
Income from:
Donations and legacies
3
28,610
Expenditure on:
Raising funds
4
16,434
Charitable activities
5
4,793
Total expenditure
21,227
Net income for the year/
Net movement in funds
7,383
Fund balances at 1 September 2021
32,409
Fund balances at 31 August 2022
39,792| |---|---| ||16,434| ||4,793| ||21,227| ||7,383
32,409| ||39,792| ||| |The statement of financial activities includes all gains and losses recognised in the year.|| ||| |All income and expenditure derive from continuing activities.|| - 3 - ## FRIENDS OF GODSTOWE ## BALANCE SHEET ## AS AT 31 AUGUST 2022 |Notes
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
8
Net current assets
Income funds
Unrestricted funds
The financial statements were approved by the Trustees on .........................
..............................
Mr C Fellowes
Trustee|2022
£
40,192
(400)|£
39,792| |---|---|---| |||39,792| |||39,792| |||| - 4 - ## FRIENDS OF GODSTOWE ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 ## 1 Accounting policies ## Charity information Friends of Godstowe is a registered charity with the Charity Commission of England and Wales. ## 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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 Charity 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. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## 1.4 Income Income is recognised when the Charity 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. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 5 - ## FRIENDS OF GODSTOWE ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 ## 1 Accounting policies ## (Continued) ## 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## Derecognition of financial liabilities Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## 2 Critical accounting estimates and judgements In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 6 - ## FRIENDS OF GODSTOWE ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 |3|Donations and legacies|Donations and legacies|||| |---|---|---|---|---|---| ||||Unrestrict||| |||||ed|| ||||funds||| ||||2022||| |||||£|| ||Donations and gifts|||19,358|| ||Other|||9,252|| ||Total|||28,610|| |4|Raising funds||||| ||||Unrestrict||| |||||ed|| ||||funds||| ||||2022||| |||||£|| ||Fundraising and publicity||||| ||Staging fundraising events|||11,676|| ||Support costs|||4,758|| ||Total|||16,434|| |5|Charitable activities||||| ||||Direct||| ||||donations||| ||||made||| ||||2022||| |||||£|| ||Direct donations made|||4,793|| ## 6 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year. ## 7 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. - 7 - ## FRIENDS OF GODSTOWE ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022 |8|Creditors: amounts falling due within one year|| |---|---|---| |||2022| |||£| ||Accruals and deferred income|400| - 8 -