Chlty number: 1155759 THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Trustees, Report and Indep¢nd¢ntly Examtn¢d Financial St&tements For The Year Ended 31 March 2024
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Contents Page Reference and Administralion Infomiation Trustees, Annual Rcport 2-3 Independent Examiners Report Receipts and Payments Account Statcment of Assets and Liabilities Notes to th¢ Unaudited Financial Statemcnts 74
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Reference and Administration Information Tru$tee8 Philip Godfrey - Chair Jason Haigh Dalc Rceve Katte Bcagles Jonathan Griifiths Charity registration number 1155759 Bu$ine$$ #ddress BeaumoniAvenue Bishop's Stortford Hertfordshire CM23 4SH Bank N&tWest Bank Pie Bishop's Stortford Branch 7 High Street Bishop's Stortford Hertfordshire CM23 2LE Independent examiner Mr Timothy Hammonds Page I
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Trustees, Annual Report for the Year Ended 31 March 2024 Thc Trustees present their annual report together with the financial statements of the charity for the year l April 2023 to 31 March 2024 and confirni thcy comply with the requirements of the Charities Act 2011, the trust deed and the Charities SORP. The Trustees who s¢rv¢d during the year w¢r¢: Philip G(Idfrey - Chair Jason Haigh Dale R¢eve Debbi¢ Hepworth Jonathan GrIlthS Principle aetivities aDd busin¢$s r¢view The principal ubjcctivc of the charity is to advance the educ&tion of the pupils at Thc Bishop's Stortford High School by providing and assisting in the provisiott of facilities for education at the school. Activity continues to develop generating both fvnds and public awarcnc5s of the charity led by volunteer fundraising. Fundraising activity has continued throughout the year and The Trust's main aim continues to be to raise sufficicnt funds for the school. Main fundraising is by parent donations. The Trust is dependent on voluntary help. Public benefit The Trustees have developed their strategic plans to ensure that the charity plans provides public bencfit and achi¢vcs its objectives as set out in the Foundation Constitution. The Trustees have given due consideration to general guidancc published by the Charity Commission relating to public b¢nefiL including the guidance 'Public benefit: reporting (PB3)'. Financial review The Trustccs regularly undertake a review of the financial activities to ensure the cFEarity h&LS sufficient reserves in order to opcratc in both the short and longer tenn. Receipts for the period ended 31 March 2024 totsled £38459. Unrestricted balances totaling £50,426 as at 31 March 2024 are as follows.. The Bishop's Stortford High School Mitre Fund £50426 Restricted balances totaling £71,960 as at 31 M&rch 2024 are as follows: Shaw - Library boards and sporting fund £34,706 Dcbating -£4631 Dolrnatics- Ncw sensory room fund £1,000 Ring Fenccd - New sports facility fund£31.623 Thanks are given to all those who have helped raise money through a lot of hard work, time and ¢ffort during tELe year kn order to continue to support the school. Method of appointment or election of Trustees Th¢ trustCC5 are appointed by a resolution of the existing trustees passed at a special meeting and the appointment lasls for two years. The trnsl deed sets out that thc miniEnum number of tnjstees is two. No formal induction is carried out by the charity. All truste¢s of th¢ charity have bccn provided with a copy of the trust deed. Page 2
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Trustees, Annual Report for the Year Ended 31 March 2024 Statement of Tru$tee$' responsibilities The'frustees are responsiblc for preparing the Truste¢s' R¢port and the financial Statements in accordance with applicable law and United Kingdom Accounting Standards. The law appli¢abl¢ to charities in England and Wales requires the Trustees to preparc financial statements for ¢a¢h financial year which gÉve a true and fair view of the state of affairs of the charity and of its incoming resources and application ofresources, including its income and expcnditure, for that period. In preparing these rinancial statcmcnts. the Trustees are required to: s¢le¢t suitable accounting policies and then apply them consistent ly. obscryc the methods and principles of th¢ Charities SORP; make judg¢m¢nts and accounting c5timates that are reasonable prudent state whethcr applicable standards have been follow¢(L subject to any material departures disclos¢d and expl&incd in th¢ financial statements; and prepare the financial statements on the going concern b&sis unless it is inappropriate to prcsume that the charity will continue in business. Thc Trustees are responsible for keeping adeouate accounting records that are sufficient to show and explain the charity's trdnsa¢tions and disclose with rcasonablc accuracy at any time the financial position of the chartty and enable them to ensure th the financial statements comply with the Charities Act 1993, the charity (Acco¥Jnts and Reports) R¢gulations 2008 and the provisions of the trst deed. 'fhey are also rcspon5ible for safeguarding the assets of the chlty and hence for taking rcasonable steps for the prevention and det¢ctiO of fraud and other irregulwilies. Approved by orderof the members of th¢ Board 0ruStee$ on............ ...... .. ...... ned on their behf by.. Godfrc Page3
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Independent Examiner's Report for the Year Ended 31 March 2024 Inijependent examiner'5 report to the trustees of The Bishop's Stortford High Sehool Mitre Fund ('th¢ Trust,) I report to the trustees on my examination of the accounts of the TTht for the year cnd¢d 31 March 2023. Responsibilities and basis of report As th¢ charity trnstees of the Trust you are responsibl¢ for the prcparation of th¢ a¢¢ounts in accordance with th¢ requirements of the Charitics Act 2011 ('the Act,). I 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 I have followed all the appIlble Directions given by the Charity Commission under section 145(5Xb) of the Act. An ind¢p¢ndent examination does not involve gathering evid¢nc¢ that would be required in an audit and consequently does not Cover all matters that an auditor considers in giving their opinion on the &ccounts. Th¢ planning and conduct of an audit goes beyond the limitcd assurance that an independent examination can provide. Consequently I cxpress no opinion as to whether the accounts present a, true and fair, view and my report is limited to thos¢ specific matt¢TS set out in the indepcndent examincr 's stat¢ment. Independent examiner'5 StAtement I have completed my examination. I confirn) that no matcrial mpAtters have come to my att¢ntion in connection with th¢ examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by section 130 of the Act. or 2. the accounts do not ac¢ord with those record5. 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 accounts to be reach¢d. This rew)rt is made solely to th¢ charity's trust¢¢s, a body. in accordance with Part 4 of th¢ Charities (Accounts 8nd Rcports) Regulations 2008. My work has been undertaken 50 that I might state to the charity's trjstees those matters Ihat l am required to state to them in an Independent Examiner's R¢port and for no other purpos¢. To the fullest extent perniitted by law, I do not accept or assume responsibility to anyonc other than the charity and the charity'5 truste¢s as a body. for my work or for this rcport fWL Mr Timothy Hammonds Dat¢.. Page4
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUIYD Receipts and Payments Aeeount for the Year Ended 31 March 2024 31.03.24 31.03a3 Unrestrieted funds Restricted fund$ Total fund$ Total funds Notes R¢ceipts from: Donations- Parents 14.688.00 3,294.00 1,787.00 455.00 14.688.00 3,294.00 1,787.00 455.00 15,999.00 Gift Aid. HMRC Interest received 614.00 Water bottles 780.00 Fun RuTt income 0.00 6,468.00 6,468.00 5,767.00 6,000.00 5,542.00 Ring Fcnccd New StK)rts Facility Dcbating 5,767.00 17,552.00 31x1.00 20,224. 18,235.00 38.459.) 40.787.00 Payments: Counselling servic¢s Computer equipment Fun run expenditur¢ HOU awards 11.692.(K 11.692.IM) 16,488.(K> 5,820.00 6.335.(M) 1.776.00 16,514. 1,264.00 2,486.00 1,112.00 3.197.00 23.00 3,614.00 3.614.00 0.00 Curriculum exp¢nditure Miscellaneous cxpenditure House water knttles 9.483.00 804.00 9,843.00 804.00 0.00 0.00 DebIng co.qts Shaw ring-f¢n¢¢d Library Bank ¢harg¢s AC¢owitaCY fee Total payments 1,077.00 1,077.00 23.00 23.00 350.00 22,002. 4.691. 26,693.IM) 55,365.00 Net reeeiptsl {payment8) -1,778.00 13.544.00 11,766.00 -14,.578.00 Reconciliation of funds: Total funds brought forward Total funds carried forward 52,274.00 58J46.00 110,720.00 125,198.00 50,426.00 71,960.1rf) 122J86.00 110,720.00 The above results were derived from continuing operations. Th¢ charity has no recognised gains or losses for th¢ year other than the results above. Page 5
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND ststement of Assets and Liabilities V48 at Year Ended 31 March 2024 2024 2023 Current assets Cash at bank and in hand 122 386 110720 Net current *5sets 122 386 110720 et assets Charity funds Unrestricted funds RestTiCted funds 50,426 52,274 Totsl fuod$ Approvcd and authorised by the trustees on......... . . and signed on their behalf by.. Philip Godfrey - Page 6
THE BISHOP'S STORTFORD HIGH SCHOOL MITRE FUND Notes to the Unaudited Financial Statements for the Year Ended 31 Mareh 2023 A¢counttng policie8 Summary of signifieant aecounting policies and key accounting estimates The principl¢ accounting policies applied in the preparation of these financial statements are set out below. These policies h&ve been Consistently applicd to all the years presented, unless otherwise statcd. Basi$ of preparation Thc financial statcments have been prepared using th¢ receipts and payments convention have been prepared in & ¢onsist¢nt way from ycar to ycar. Revenue reeognition Turnover comprises th¢ fair value of donations from individuS or companies, legacy gifts from individuals and interest on funds held on d¢postt. The company r¢¢ognis¢s rev¢nue when: The amount ofr¢v¢nue can be reliably mcasured- it is probable that future economtc benefits will flow to the entity. and specific criteria have been met for each of the company's activities.. Cash and ¢a$h equivalent$ Cash and cash equivalents comprise c&sh on hand and call deposits, and other short-terni highly liquid investments that are readily Convertible to a known amount of cash and are subject to an insignificant risk of Chang¢ in value Fund accounting Unrestricted funds can be used in cOrdance with thc charitable objectives at th¢ discretion of th¢ trustees. Restricted funds only be used for particular purposes within the objectives of the charity. Restrictions arise whcn spccificd by the donor or when funds are r&ised for particular rcstricted purposes. P8ge 7