**CHARITY REGISTRATION NUMBER: 1170059** **The Friends of Norwich School Unaudited financial statements 31 August 2024** ## **The Friends of Norwich School** ## **Financial statements** ## **Year ended 31 August 2024** ||**Page**| |---|---| |Trustees' annual report|**1**| |Independent examiner's report to the trustees|**4**| |Statement of financial activities|**5**| |Balance sheet|**6**| |Notes to the financial statements|**7**| ## **The Friends of Norwich School** ## **Trustees' annual report** ## **Year ended 31 August 2024** The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts 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 published in October 2019. ## **Reference and administrative details** **Registered charity name** The Friends of Norwich School **Charity registration number** 1170059 **Principal office** Norwich School 71A The Close Norwich NR1 4DD ## **The trustees** The trustees who served during the year and at the date of approval were as follows: Mrs M de Lange (Chair) Mr S Griffiths Mr J Hook Mr J Ingham Mr J Pearson Mrs J Taylor **Independent examiner** Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB **Bankers** Barclays Bank Plc 3 St James Court Norwich Norfolk NR3 1RJ **Solicitors** Mills and Reeve 1 St James Court Whitefriars Norwich NR3 1RU **- 1 -** ## **The Friends of Norwich School** **Trustees' annual report** _**(continued)**_ ## **Year ended 31 August 2024** ## **Objectives and activities** The primary purpose of the Charity is to advance the education of pupils at Norwich School. ## **Public benefit** The Trustees have considered the Charity Commission's guidance on public benefit. They confirm that in planning and carrying out the charity's activities they have had regard to this guidance. The charity exists to raise funds for various School Clubs and Associations which provide additional extra mural activity for pupils. The Friends also raise funds to purchase bursaries to the School thereby enabling talented young people to attend the School who might otherwise be unable to do so for financial reasons. ## **Achievements and performance** - There were 2 main fundraising events during the year, Quiz Night and The Ball. - Grants totalling £19,256 were paid to extra-curricular clubs and associations organised by the school for the benefit of its students - Bursaries of £10,000 were awarded during the year. ## **Financial review** The charity is funded by event income and a charity shop. Total income amounted to £59,365 (2023: £52,312) and, after expenditure of £59,104 (2023: £40,831), the net income for the year amounted to £261. The Trustees consider the year-end financial position to be satisfactory and confirm that the charity can meet all known obligations. ## **Reserves policy** The level of reserves is discussed annually with a view to holding an adequate but not excessive level of reserves. Free reserves held by the charity as at 31 August 2024 totalled £45,316. ## **Plans for future periods** It is the Trustees' intention that the charity will continue to advance the education of pupils at Norwich School as described above ## **Structure, governance and management** ## **Governing document** The Friends of Norwich School was originally established on 23 January 1978. The constitution was registered with the Charity Commission (registration number 1170059) on 7 November 2016. **- 2 -** ## **The Friends of Norwich School** **Trustees' annual report** _**(continued)**_ ## **Year ended 31 August 2024** **Structure, governance and management** _**(continued)**_ ## **Appointment and recruitment of Trustees** According to the Charity's constitution, the board of Trustees should consist of at least three and not more than six individuals, appointed as follows: - Three elected Trustees, all of whom must be members and elected by the Membership at an AGM; - The Head Master of Norwich School; - The Master of the Lower School of Norwich School; and - The Development Director, or equivalent role, at Norwich School. ## **Trustees' induction and training** All new Trustees will be provided with copies of: - The Charity's constitution - The latest accounts of the Charity and are encouraged to read Charity Commission guidance notes CC3 -"The Essential Trustee: what you need to know, what you need to do." In addition, Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities. ## **True and Fair override** The accounts (financial statements) have been prepared to give a "true and fair" view and 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 Accounting and Reporting by charities by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **Independent examiner** Mark Proctor FCA DChA of Lovewell Blake LLP has been re-appointed as independent examiner for the ensuing year. The trustees' annual report was approved on 20 February 2025 and signed on behalf of the board of trustees by: Mrs M de Lange (Chair) **- 3 -** ## **The Friends of Norwich School** ## **Independent examiner's report to the trustees of The Friends of Norwich School** ## **Year ended 31 August 2024** I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 August 2024 which comprise the statement of financial activities, balance sheet and the related notes. ## **Responsibilities and basis of report** As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material 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 Act; or 2) the accounts do not accord with those records; or 3) the accounts 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 accounts to be reached. Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance with 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) 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 since been withdrawn. I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. Mark Proctor FCA DChA Independent Examiner Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB 11 March 2025 **- 4 -** ## **The Friends of Norwich School** ## **Statement of financial activities** ## **Year ended 31 August 2024** |||**2024**|**2024**|2023| |---|---|---|---|---| |||Unrestricted||| |||funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**4**|420|420|1,959| |Other trading activities|**5**|58,945|58,945|50,353| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Total income**||59,365|59,365|52,312| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |**Expenditure**||||| |Raising funds||||| |Costs of other trading activities|**6**|27,580|27,580|15,024| |Charitable activities|**7**|31,524|31,524|25,807| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Total expenditure**||59,104|59,104|40,831| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Net income and net movement in funds**||261|261|11,481| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |**Reconciliation of funds**||||| |Total funds brought forward||45,055|45,055|33,574| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Total funds carried forward**||45,316|45,316|45,055| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 7 to 11 form part of these financial statements.** **- 5 -** ## **The Friends of Norwich School** ## **Balance sheet** ## **31 August 2024** |||**2024**|||2023|| |---|---|---|---|---|---|---| ||**Note**|**£**|**£**|£||£| |**Current assets**||||||| |Debtors|**11**|516||2,134||| |Cash at bank and in hand||55,369||55,181||| |||ৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄ||| |||55,885||57,315||| |**Creditors: Amounts falling due within**||||||| |**one year**|**12**|(10,569)||(12,260)||| |||ৄৄৄৄৄৄৄ||ৄৄৄৄৄৄৄ||| |**Net current assets**|||45,316|||45,055| ||||ৄৄৄৄৄৄৄ|||ৄৄৄৄৄৄৄ| |**Total assets less current liabilities**|||45,316|||45,055| ||||ৄৄৄৄৄৄৄ|||ৄৄৄৄৄৄৄ| |**Net assets**|||45,316|||45,055| ||||৶৶৶৶৶৶৶|||৶৶৶৶৶৶৶| |**Funds of the charity**||||||| |Unrestricted funds|||45,316|||45,055| ||||ৄৄৄৄৄৄৄ|||ৄৄৄৄৄৄৄ| |**Total charity funds**|**13**||45,316|||45,055| ||||৶৶৶৶৶৶৶|||৶৶৶৶৶৶৶| These financial statements were approved by the board of trustees and authorised for issue on 20 February 2025, and are signed on behalf of the board by: Mrs M de Lange (Chair) **The notes on pages 7 to 11 form part of these financial statements.** **- 6 -** **The Friends of Norwich School** ## **Notes to the financial statements** ## **Year ended 31 August 2024** ## **1. General information** The charity is a charitable incorporated organisation, registered with the Charity Commission for England and Wales. The address of the principal office is Norwich School, 71A The Close, Norwich, NR1 4DD. ## **2. Statement of compliance** The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements have been prepared to give a 'true and fair' view and 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 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **3. Accounting policies** ## **(a) Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial items measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £. ## **(b) Going concern** The financial statements have been prepared on a going concern basis, as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. ## **(c) Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. **- 7 -** ## **The Friends of Norwich School** ## **Notes to the financial statements** _**(continued)**_ ## **Year ended 31 August 2024** ## **3. Accounting policies** _**(continued)**_ ## **(d) Income** All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. ## **(e) Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. ## **(f) Financial instruments** A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. ## **4. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2024**|Funds|2023| ||£|**£**|£|£| |**Gifts**||||| |Gifts|420|420|1,959|1,959| ||৶৶৶৶|৶৶৶৶|৶৶৶৶৶৶|৶৶৶৶৶৶| **- 8 -** ## **The Friends of Norwich School** ## **Notes to the financial statements** _**(continued)**_ ## **Year ended 31 August 2024** ## **5. Other trading activities** |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---|---| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Fundraising events|30,348|30,348|23,580|23,580| ||Charity shop|28,597|28,597|26,773|26,773| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |||58,945|58,945|50,353|50,353| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |**6.**|**Costs of other trading activities**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Shop costs - purchases|10,190|10,190|4,893|4,893| ||Fundraising expenses|17,390|17,390|10,131|10,131| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |||27,580|27,580|15,024|15,024| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |**7.**|**Expenditure on charitable activities**||||| |||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |||Funds|**2024**|Funds|2023| |||£|**£**|£|£| ||Grants|19,256|19,256|12,887|12,887| ||School bursaries|10,000|10,000|10,000|10,000| ||Sundry expenses|904|904|1,629|1,629| ||PTA insurance|140|140|127|127| ||Governance costs|1,224|1,224|1,164|1,164| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |||31,524|31,524|25,807|25,807| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| ||**Governance costs**||||| |||||2024|2023| |||||**£**|£| ||Independent examination - current year|||1,224|1,164| |||||৶৶৶৶৶৶|৶৶৶৶৶৶| |**8.**|**Independent examination fees**||||| |||||**2024**|2023| |||||**£**|£| ||Fees payable to the independent examiner for:||||| ||Independent examination of the financial statements|||1,224|1,164| |||||৶৶৶৶৶৶|৶৶৶৶৶৶| |**9.**|**Staff costs**||||| The average head count of employees during the period was Nil (2023: Nil). No employee received employee benefits of more than £60,000 during the year (2023: Nil). **- 9 -** ## **The Friends of Norwich School** ## **Notes to the financial statements** _**(continued)**_ ## **Year ended 31 August 2024** ## **10. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. ## **11. Debtors** |||**2024**|2023| |---|---|---|---| |||**£**|£| ||Trade debtors|516|2,134| |||৶৶৶৶|৶৶৶৶৶৶| |**12.**|**Creditors:** **Amounts falling due within one year**||| |||**2024**|2023| |||**£**|£| ||Trade creditors|9,345|11,096| ||Accruals and deferred income|1,224|1,164| |||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |||10,569|12,260| |||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| ## **13. Analysis of charitable funds** **14.** ||**Balance at 1**|||**Balance at 31**| |---|---|---|---|---| ||**Sep 2023**|**Income**|**Expenditure**|**Aug 2024**| ||£|£|£|£| |General funds|45,055|59,365|(59,104)|45,316| ||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| ||**Balance at 1**|||**Balance at 31**| ||**Sep 2022**|**Income**|**Expenditure**|**Aug 2023**| ||£|£|£|£| |General funds|33,574|52,312|(40,831)|45,055| ||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| |**Analysis of net assets between funds**||||| ||||Unrestricted|**Total Funds**| ||||Funds|**2024**| ||||£|**£**| |Current assets|||55,885|55,885| |Creditors less than 1 year|||(10,569)|(10,569)| ||||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Net assets**|||45,316|45,316| ||||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| ||||Unrestricted|Total Funds| ||||Funds|2023| ||||£|£| |Current assets|||57,315|57,315| |Creditors less than 1 year|||(12,260)|(12,260)| ||||ৄৄৄৄৄৄৄ|ৄৄৄৄৄৄৄ| |**Net assets**|||45,055|45,055| ||||৶৶৶৶৶৶৶|৶৶৶৶৶৶৶| **- 10 -** **The Friends of Norwich School** **Notes to the financial statements** _**(continued)**_ ## **Year ended 31 August 2024** ## **15. Related parties** There were no related party transactions during the year. **- 11 -**