Freemen’s School Association 2012 ## Freemen’s School Association 2012 Report of the Trustees and Accounts for the Year Ending 31 August 2022 1 Freemen’s School Association 2012 ## Legal and Administrative Information ## Status The Freemen’s School Association 2012 (the ‘FSA’) is a registered charity. Registered Charity Number: 1151182 ## Address of the Association Freemen’s School Association 2012 City of London Freemen’s School Ashtead Park Surrey KT21 1ET ## Trustees and Council Members |Name|Position|Date Elected| |---|---|---| |Fiona Beukes|Chair|22 September 2020| |Georgina Shield|Vice Chair|14 September 2021| |Michelle Bohn|Secretary|17 September 2019| |Victoria Price|Governance Officer|14 September 2021| |Jonathan Sullivan|Treasurer|14 September 2021| |Sufiah Wallace|Co-Treasurer|22 September 2020| |Karen Wilson|Lottery Coordinator|2 October 2014| |Nichola Araj|Trustee|20 September 2016| |Jutta Byers|Trustee|18 September 2017| |Jane Syrett-Garden|Second Hand Uniform Shop|15 September 2018| |Karin Evans|Council Member|15 September 2018| |Kate Malhotra|Council Member|17 September 2019| |Jackie Au|Tea House|| ## Bankers National Westminster Bank 115 High Street Epsom Surrey KT19 8DX 2 Freemen’s School Association 2012 ## Report of the Trustees for the Year Ended 31st August 2022 The Trustees are pleased to present their Annual Report together with the Accounts of the FSA for the year ended 31st August 2022. ## Introduction and Background Information The Freemen’s School Association 2012 or the FSA as it is known, is a registered charity run by the parents of the City of London Freemen’s School. Its aim is to raise money by fundraising activities for use within the School, which are for the benefit of and to further the development of the pupils and former pupils of the School. Its principal objectives include: - the provision of scholarships, prizes and awards; - the provision of facilities for education at the School; - the promotion of extra-curricular activities at the School and the promotion of Clubs or associations; - the provision of bursaries to pupils of the School. Membership of the FSA is open to parents and guardians of current pupils at the School. The FSA is administered and managed in accordance with its Constitution by the FSA Council. Council Members are elected at the annual general meeting of the FSA. This includes electing Officers of the Council such as Chair and Treasurer. The elected Officers and Council Members for the year ended 31st August 2022 are listed on page 1. ## Activities During the Year ## Fundraising Activities As public health restrictions came and went in 2022, the Association could engage in more fundraising activities than in 2021. In our 2022 fiscal year, we were only kept from conducting the Christmas Fair in December of 2021. We were able to conduct our annual fireworks display, a winter ball and a summer ball, and an Easter Egg hunt. Additionally, the Tea House reopened from time to time during the year and the second-hand uniform shop remained operating. We thank all our volunteers who arranged and staffed these events. As in 2021, the Uniform shop was our top fundraising activity, raising £8,501. Following on from that, we held two balls in 2022 collectively raising £11,154. The Winter Ball was a huge success bringing many together for a night out during a brief relaxation of public health restrictions. We had to cancel the Christmas Fair at the last minute, but still managed to raise £6,819 through virtual activities and sales around the fair. The annual fireworks show was a big hit in 2022, raising approximately £7,879. The School Lottery generated slightly more funds in 2022 £1,514 than in 2021 (£1,313). The Tea House was back in service and raised approximately £1,046. Other activities collectively raised £1,234. ## Grants and Donations awarded to the School During the year 2021/22 the FSA authorised grants and donations to the school totalling £25,858, similar to 2021’s amount of £23,179. This included a substantial contribution to the CLFS Bursary Fund in the amount of £2,000, purchases for the school (“School Grants”) in the amount of £19,470 and Travel Awards of £3,989. Grants to the school included, but were not limited to the following: - £11,000 for a canopy for the Green Room outdoor teaching facility - £5,000 for a new portable sound system - £1,800 for gym mats - £1,495 for Lego sets for the DT club ## Results for the Year The results for the year ended 31st August 2022 are shown starting on page 5 of the attached accounts. 3 Freemen’s School Association 2012 ## Reserves Policy The reserves held in the General Fund are kept at a level sufficient to cover circa two years’ worth of Grants and Donations to the school and the ongoing funding of the FSA fundraising activities. Jonathan Sullivan Treasurer Dated 26 June 2023 4 Freemen’s School Association 2012 ## Statement of Financial Activities for the Years Ending 31 August ## Income & Expenditure Accounts for the Year ending 31 August ||Notes|Total Funds|Total Funds| |---|---|---|---| |||2022|2021| |Incoming Resources:|||| |Income from activities to generate|||| |funds|2|£ 82,467|
£ 16,571| |Donations|3|710|
292| |Investment Income|4|9|6| |Total Incoming Resources||£ 83,186|
£ 16,869| |Resources Expended:|||| |Costs of generating funds|2|£ (44,320)|
£ (5,506)| |Grants and donations payable|5|(25,858)|
(23,178)| |Management and administration|6|(1,374)|(240)| |Total Resources Expended||£ (71,552)|
£ (28,924)| |Net Surplus (Loss)||£ 11,634|
£ (12,055)| |Total Funds at 1 September||£ 40,203|
£ 52,258| |Net Surplus (Loss)||11,634|
(12,055)| |Release into General Fund||4,259|0| |Net Movement in Funds||£ 15,893|
£ (12,055)| |Total Funds at 31 August||£ 56,096|
£ 40,203| The notes on pages 7 to 9 form part of these accounts. 5 Freemen’s School Association 2012 ## Balance Sheet as of 31 August |Notes
Current Assets
Debtors
7
Cash at bank
8
Creditors
Amounts falling due within one year
9
Net Current Assets
Net Assets|2022
£947
65,104
£66,052
-£9,955
£56,096
£56,096|2021
£5,854
43,184
£49,038
-£8,835| |---|---|---| |||£40,203
£40,203| |Represented by:
Unrestricted Funds
General funds
Total Funds|£56,096
£56,096|£40,203
£40,203| The notes on pages 7 to 9 form part of these accounts. 6 Freemen’s School Association 2012 ## Notes to the Accounts for the Year Ending 31 August 2022 ## 1. Accounting Policies - a. These accounts have been prepared under the historical cost convention, in accordance with applicable accounting standards and the Statement of Recommended Practice (SORP 2000) issued by the Charity Commission - "Accounting and Reporting by Charities". - b. These accounts have been prepared on an accrual basis. - c. Unclaimed prize monies for the School Lottery and unclaimed sales proceeds from the Uniform Shop will be released to the General Fund in the third year following the year in which they were generated or when it can be reasonably expected that they will not be claimed. - d. Subscriptions to the FSA that cannot be identified by the donor will be held as a creditor in the balance sheet and will be released to the General Fund in the third year following the year in which the subscription was received. ## 2. Activities to Generate Funds ||2022|2022|2022|2021| |---|---|---|---|---| ||Income (£)|Costs (£)|Net Surplus (£)|Net Surplus (£)| |Uniform Sale|10,756|2,255|8,501|5,384| |Winter Ball|28,633|20,382|8,251|| |Fireworks Display|16,618|8,739|7,879|| |Christmas Fair|10,664|3,845|6,819|2,957| |Summer Ball|10,585|7,682|2,903|| |School Lottery|2,694|1,180|1,514|1,313| |Tea House|1,049|3|1,046|| |Easter Egg Hunt|750|229|521|| |Clothes Recycling|260||260|435| |Amazon Smile|212||212|120| |Canopy Fund Raiser|195|5|190|| |World of Books|51|0|51|| |Wine Tasting|||0|447| |Firework Sale|||0|408| ||£82,467|£44,320|£38,147|£4,825| 7 Freemen’s School Association 2012 ## 3. Income from Donations ||2022 (£)|2021 (£)| |---|---|---| |Subscriptions to the|710|| |Association||| |Other Donations||292| ||£710|£292| ## 4. Investment Income ||2022|(£)|2021|(£)| |---|---|---|---|---| |Bank interest||9||6| |||£9||£6| ## 5. Grants & Donations Payable ||2022 (£)|2021 (£)| |---|---|---| |Travel Awards|3,989|3,330| |Support for the U5 & U6 Proms|399|| |Purchases for the school ("School Grants")|19,470|14,849| |Bursaries|2,000|5,000| ||£25,858|£23,179| ## 6. Management & Administrative Costs ||2022 (£)|2021 (£)| |---|---|---| |Catering AGM/ Committees/ Welcome Evening|437|| |Insurance, Audit and Accounting|937|240| ||£1,374|£240| 8 Freemen’s School Association 2012 ## 7. Debtors ||2022|2021 (£)| |---|---|---| |Uniform shop|947|| |School Lottery||2,610| |Summer Ball deposits||2,115| |Winter Ball deposit||849| |Tea House cash (to be paid in)||| |FSA Subscriptions||280| ||£947|£5,854| ## 8. Cash at Bank ||2022 (£)|2021 (£)| |---|---|---| |Current account|45,817|23,900| |Capital Reserve Account|19,287|19,278| ||£65,104|£43,178| ## 9. Creditors: amounts due within one year ||2022 (£)|2021 (£)| |---|---|---| |Fireworks Costs incl. catering|6,596|| |School Grants (outstanding submissions)|887|4,595| |Travel & Enrichment Awards|2,017|3,330| |Costs Social (Quiz Night)||| |Lottery Wins|115|910| |Christmas Fair reimbursements||| |Christmas Fair Stall Deposits|£340|| ||£9,955|£8,835| 9 Freemen’s School Association 2012 ## 10. Release into General Fund ||2022 (£)|2021 (£)| |---|---|---| |Reserves for Uniform Shop unclaimed sales have||| |been moved to General Fund (Accounting policy 1c)||| |Reserves for school grants|2,347|| |Reserves for unclaimed enrichment awards|1,135|| |Unidentified reserves from prior years|777|| ||£4,259|£0| 10 Freemen’s School Association 2012 ## Independent Examiner’s Report for the Year Ending 31 August 2022 I report on the accounts of the Freemen’s School Association 2012 for the year ending 31 August 2022, which are set out on pages 5 to 10. ## Responsibilities of trustees and examiner The charity’s trustees are responsible for the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is required. It is my responsibility to: - examine the accounts under section 145 of the Charities Act; - to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and - to state whether particular matters have come to my attention. ## Basis of independent examiner’s report My examination was carried out in accordance with General Directions given by the Charity Commissioner. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given to as to whether the accounts present a true and fair view and the report is limited to those matters set out int he statement below. ## Independent examiner’s statement In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that in any material respect the requirements: - - to keep accounting records in accordance with section 130 of the Charities Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements for the Charities Act have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mark Cooper, FCA Chartered Accountant 1A High Street Epsom Surrey KT19 8DA Dated: 26 June 2023 11