## **Friends of Five Acre Wood School** ## **Accounts for the year ending 31[st] August 2020** The Friends of Five Acre Wood School states its main objectives as the support, advancement and promotion of education and in particular, but not limited to, any educational and charitable purposes connected with Five Acre Wood School. It provides educational and recreational opportunities for children and young people with special needs and disabilities, as well as training and supporting associated persons for the specified purposes. Five Acre Wood School is a foundation special school for children and young people with profound, severe and complex needs aged from 3-19 with the main site in Maidstone and satellite provisions at Palacewood Primary School and a self-contained provision at Holmesdale School, Snodland Kent. There are over 600 students at the school. ## **Hydrotherapy Pool** As forecast, the build of this facility commenced in January 2020. It was affected – timescale wise – by the pandemic with approximately 6 weeks lost. ## **Coronavirus Pandemic** Fundraising events were clearly affected by the pandemic. The summer fair had to be cancelled as well as the annual music festival. Many national events – for example – the London Marathon were cancelled which affected income for the charity. Much focus was placed on supporting our most needy families and students. ## **Projects** Funding was completed for the new stables at FAWS – the actual arrival of the ponies on site was put on hold due to the pandemic and as soon as it is practical, they will arrive. Through various fundraisers and successful grant applications, sufficient money was raised to purchase a Mobile Sensory Unit for the Loose site and a sunken trampoline for the Snodland site. A campaign to raise £50,000.00 towards the cost of buying a house was launched. The house will be a life skills teaching resource. Part-funding was received to purchase a minibus for the Snodland site. Itemised income can be seen in the attached accounts and more details of the work undertaken can be seen at www.FoFAWS.co.uk **Report prepared by Alexandra Meaders, 26 January 2021** statÈnWrtof IfK4Me a d Ex nditu EXper￿lIur• DOna￿On￿l￿d8rants CAF. S&insbury5 R•Jtrktod Funds £1.$88.74 £233.45 £3W.(¥J £i.LW(N) E70.05 £750. Pledged to FweACrtwwd5(ho( 8AEs￿leMS CAFMAS £575.fNI £5B 74 £94051 EI52E 68 £133.04 1252 01 E63.418 69 £836.99 £20E 30 £1526.04 CAF Grow19 Sen￿￿G￿rd 6th 6èrdenin8 Fox15ttiittured tha5e Hydropool Nursery Lloyd5bink FoUndatI￿-T￿atch(undln6 £5.(￿. £10.￿) 19L8S E2& ÉL.(rt*x GDldlngHDmes Kent Cornmuniiy Ftsundatitsl £g.iK) 963.62 £840.00 £so.oo £455.OD £221. E5.OD 3.0W. £20. £150 £LO3. £i.ow. É50.tyJ £70.(p) CAF. Salnsbtsrys CAF- 53lfisburys Mrs C05ter Mallin6Area#ts￿sOcI Wood5to(* sory 1fit￿ratIOn nken TiampDline Tes(oba8s ￿hElP £33.2S £4.865.00 £5.905 00 £68.96 Snodl•)d Ként CommtsnStyFoundbtl Dofiations C4F-Sain5bury5 JParrett KCC Sis ￿rth É97.49S.97 (hham Pari5hCowxil W3lnutTfee £250 £3,￿.￿) £3￿).58 É1.3SO.00 iJniestiKted CAF. Salrtsbu KenLCDmmunity Foundauon co.op TwelYeElprtflcClub Bal￿ Thomas Groundwork U ProLtor& Garn￿￿ PltdEed toF￿￿A£re WoodSdki(4 Equipment EV￿taTrd costs eJm165 319AO E279.60 E30.08 EIL400.00 ELOOO.00 £500.UU £1,20U.QO £S.453.00 £24.00 £250.00 £69.544.19 8ankthar8eS El.73890 FnEAc¢ew(thJScho eJ14M3376 FU￿d￿ls1￿t-SpOn$O1td EVEnts E2,468.27 FlveAcrèWoDd-Sponsor8devent5 Lucky baMs& FAWdub Fetes £17.00 EJ.038.00 fZ.377.93 £376.28 £6J6.73 £8.￿7.46 OnlineLDmml551(WbS euJ,741Q2 Tt)tsIExpendkur& £99,234.87 8alanLeblfv E179,44&69 InYeètSJrpbJ5 £24,5Cfj.35 6ahnce El £203,952.fy1 Prepaied by Trustee approval.. Daté.. D** of ArfAI I b/,l_i.i. Ib # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **Objective** FOFAWS funds should be administered to the same standard as public funds. They should be audited and the audit should include not only an assessment as to whether the accounts are correct, but also a review as to whether the expenditure has been properly incurred. It is the responsibility of the School to ensure that the FOFAWS fund procedures followed provide a safe and efficient system for the custody and control of FOFAWS funds. To help the School to meet its commitment this report will provide the Headteacher and the Governors/Trustees with an opinion on the adequacy of management controls over the financial systems and records used by the School for the FOFAWS funds. We do not give an overall rating but each section within the report has been given an assurance level based on the results of the tests carried out by the Auditor. ## **Definition of Assurance Levels** |**Good**|Evidence of a sound system of internal control designed to achieve accurate service and fund objectives| |---|---| ||| |**Requires attention**|Timely management action is required to remedy weaknesses in internal control that could lead to non achievement of service or fund
objectives| ||| |**Unsatisfactory**|Immediate management action is required to remedy a gap or failure of internal control that has led, or may lead, to non achievement of
service or fund objectives| # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **1. Summar of Accounts Statement y** ## **Good** ## **Rationale / Expected Control** The Summary of Accounts Statement is a true and fair view of FOFAWS fund transactions, is certified by the Fund Treasurer and the Trustee and the school has adequate arrangements in place for audit in line with the SFVS requirements. ## **The submitted summary of accounts is checked to ensure that:** FOFAWS Fund accounts were submitted within DfE guidelines (1.01, 1.02). The individual totals from the Cash Book/account ledger are recorded correctly on the submitted summary of accounts statement (1.03, 1.04). Receipts and payments are recorded under sufficiently detailed headings (1.05). Charity collections are detailed and match the payments made to the charities (1.06). The balance brought forward agrees with the previous year’s audited figure and the total carried forward reflects the Cash Book balance (1.07, 1.08). Year-end balances are recorded for stock held, uncleared items and amounts owed or owing to the Fund (1.09, 1.10, 1.11). It details the year-end profit or loss position (1.12). It has been certified where appropriate (1.13). **The following did not meet the above controls** **Risk** ## **Recommendations** There are no recommendations in this section as all areas are good # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **2. Cash Book** ## **Good** **Rationale / Expected Control** The Cash Book is completed to record individual transactions as they occur corresponding with a Summary of Accounts Statement to allow this end of year document to be completed easily. ## **The submitted Cash Book was checked to ensure that:** The opening balance brought forward from the previous year is correctly recorded (2.01). Receipts and payments are detailed under appropriate headings showing clear totals for each (2.02, 2.03). Totals can be accurately transferred to a summary of accounts statement at the end of the financial year (2.04). The year-end closing balance is correctly recorded (2.05). **The following did not meet the above controls Risk** ## **Recommendations** There are no recommendations in this section as all areas are good # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **3. Security and Stock** ## **Good** **Rationale / Expected Control** There are appropriate arrangements for the safe keeping of cash and cheques including the frequency of banking. There is an adequate number of authorised signatories in order to carry out the funds liabilities. Where stock is held, adequate records are maintained and regular stock checks are undertaken. ## **A check was made to ensure that documentation, signed by the Headteacher and/or The Chair of Governors, confirms and/or includes:** Adequate arrangements for the safe keeping of cash and cheques detailing a sufficient number of key holders (3.01, 3.02). That the arrangements and frequency for banking are adequate (3.03). The names and sample signatures for the authorisation of expenditure and cheque signing is adequate (3.04, 3.05) If applicable: a correctly completed and signed handover form for a change of Treasurer and/or Headteacher (3.06). If applicable: evidence of a stocktake carried out by two people showing opening and closing balances and an authorised calculation of profit or loss (3.07, 3.08, 3.09) **The following did not meet the above controls Risk** ## **Recommendations** There are no recommendations in this section as all areas are good # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **4. Payments / Invoices** ## **Good** **Rationale / Expected Control** A sufficiently detailed invoice or claim form exists for each transaction which is authorised, recorded and paid accurately. Value for money is considered and where necessary three quotes are sought for purchases in excess of £5,000. ## **A sample of expenditure records have been examined to check that:** All purchases are for appropriate goods or services for the Fund and supported with a valid invoice or receipt (4.01, 4.02). There is evidence of checks being carried out for the receipt of the goods or service and that invoice amounts are correctly calculated (4.03, 4.04). All payments are fully authorised (4.05). Controls are in place to prevent duplicate payments and to ensure correct amounts are recorded and paid (4.06, 4.07, 4.08). Sufficient evidence of three quotes is supplied for invoices in excess of £5,000 (4.09). **The following did not meet the above controls** **Risk** ## **Recommendations** There are no recommendations in this section as all areas are good # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **5. Bank Statements** ## **Good** **Rationale / Expected Control** Bank Statement transactions are regularly reconciled to the cash book to ensure there are no irregularities which go unchecked and the bank balance is always in credit. This process is checked, signed and dated appropriately. Banking is carried out in line with the documented frequency. ## **Bank records were checked to ensure that:** A timely monthly reconciliation of each FOFAWS fund bank account has been completed, signed and dated by both the person who prepared it and the Headteacher (5.01, 5.02, 5.03). The bank account/s were always in credit (5.04). An authorised Year-end reconciliation between the bank account and the Cash Book is carried out detailing uncleared items to verify the Cash Book balance (5.05). There are no uncleared items older than six months (5.06). The frequency of banking is in line with the submitted, authorised documentation (5.07). Where applicable, appropriately completed and authorised lost cheque indemnity forms evidenced for any re-issued cheques (5.08). **The following did not meet the above controls** **Risk** ## **Recommendations** There are no recommendations in this section as all areas are good # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **6. Income** ## **Good** **Rationale / Expected Control** Income is recorded accurately, safely held and banked intact using adequate controls and processes. There is a financial statement drawn up incorporating all the financial activities of individual trips. ## **A sample of income records were checked to ensure that:** A dated receipt has been issued or adequate, dated and signed class records have been completed for all monies received (6.01). Income has been recorded and banked accurately from the point of receipt (6.02, 6.04). Receipt information is appropriately identified on the Paying-in slip (6.03). Income has been signed as checked on each occasion when being transferred from one person to another (6.05). Financial statements have been drawn up incorporating all financial activities for school trips (6.06). **The following did not meet the above controls Risk** ## **Recommendations** There are no recommendations in this section as all areas are good # **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **7. Petty Cash** ## **n/a** **Rationale / Expected Control** The Petty Cash account is viable with adequate records for making authorised and fully supported cash payments. ## **A sample of Petty Cash transactions and records were checked to ensure:** All payments are supported by adequate and authorised backing documentation (7.01). The vouchers are authorised by an appropriate person and signed as received by the payee (7.02, 7.03) That payments and reimbursements are adequately recorded (7.04). The justification for operating Petty Cash (7.05, 7.06). ## **The following did not meet the above controls** **Risk** ## **Recommendations** There are no recommendations in this section ## **Friends of Five Acre Wood School (FOFAWS) Fund Sep 2019 to Aug 2020** ## **Summary of Controls Assessed** |Summary of Accounts
Statement|**Good**| |---|---| |Cash Book|**Good**| |Security and Stock|**Good**| |Payments / Invoices|**Good**| |Bank Statements|**Good**| |Income|**Good**| |Petty Cash|**n/a**| Audited by Steve Wolff Schools Financial Services **The Education People** Date: 01/03/21