QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024 Registered Charity No. 1175172
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEmETrS FOR THE YEAR ENDED 31 AUGUST 2024 COIYTENTS Page Legal and Administrative inforniation Report of the Tru5te¢s Independent Examiner's Report Siateinent of financial activities (Incorporating an income and expendilure account) Balance sheet Notes to the financial statements 9-12
QUEEN MARY'S ASSOCIATION TRUSTEES. REPORT AND FINANCIAL STATEMEivrs FOR THE YEAR ENDED 31 AUGUST 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Charity Number: 1175172 Trustees: The trustees for the period to date of signing this report are: Seema Sikka Richard James Langton- Headmast¢r mic]e] Eric Lax- Deputy Head Adrian Roch¢ Balbir Seimar BEM Administration Office Clo Queeii Mary's Grdmmar School Siitton Road Walsall WSI 2PG Bankers Lloyds Bank plc The Bridge Walsall WSI ILG
QUEEN MARY'S ASSOCIATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 REPORT OF THE TRUSTEES The Trustees of the Queen Mary's Association {"QMA" or '%lie charitable body") are its Trustees for the purpose of charity law and througliout this report are collectively referred to as its Trustees. The financial statements Coinply witli Chariti¢s Act 2011, and Accouiiting and Reporting by Cliarities.. Statem¢nt of Recommended Practice applicable to charities preparing their accounts in accordance with tlie Finan¢ial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS102) (effective l January 2015). The QMA is an unincorporated association governed by a constitution adopted on 21 Jun¢ 2017. It COtnJnen¢ed its cliaritable a¢tivity on I September 2017. The Charity was fonnally registered with the Charity Commission on 16 October 2017. The Trustees hav¢ pleasure in presenting tlie charitable body's pOrt and financial statements for the year ended 31 August 2024. STIUTEGIC AIM AND OBJECTIVES The object of the QMA is to advance the education of pupils in Queen Mary's Grammar School {"QMGS") in particular by.. Developing eff¢¢tive relationships between the staff, parents and others associated with QMGS. and Engaging in activities or providing facilities or equipment which support QMGS and advance the education of th¢ pupils. The Trustees as noted withiii its governing constitution have the following powers. which may be exercised only in proinoting the charity's purpose.. To provide advice- To publisl) or distribute information. To co-operate with otlier bodies- To raise funds (but not by means of permanent trading). To acquire or hire property of any kind. To make grants or loans of Inoncy and lo give guarante¢s' To set aside funds for special purposes or as reserves against future expenditure. To deposit or invesl funds in any lawful tnanner- To take out public liability and personal accident, to insure the Association's property against any foreseeable risk and take out other insurance policies to protect the association where required. To employ paid or uiipaid agent5, Staff or advisers, oiily with the prior agi'¢¢in¢nt of tli¢ Headmaster. To enter into contracts to provide 5ervic¢s to or on behalf of other bodies To pay the costs of forniing the association. To obtain and pay for goods and services as are necessary for carying out the work of the charity. To consult parents on tl)eir views; To open and operate a single bank and any other accounts for the whole Charity as tl)e Committee Membersrrrustees consider nec¢ssary- and To do anything else within the law that promotes the objects.
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMEE+rrs FOR THE YEAR ENDED 31 AUGUST 2024 ACHIEVMENTS AND PERFORMANCE Our fundraising initiatives have continued to thrive, with events and paret)t participation r¢a¢hing unprecellted levels. All tliree events have been ex¢¢ptionally successful, achieving record-breaking attendance and engagement. The transition of the student raffle to a digital fonnat has also ken a resounding success. This change has eliminated printing costs> provided valuable data for tracking student participation, and supported our eco- friendly initiatives. The purchase of additional card machines has increased Card payment5, th¢reby minitnizing cash transactions. FUTURE PLANS In 2024-2025. we will continue with & similar model to the previous year. We will hold three main annual events.. Burns Night, th¢ Summer Arts Festival and Taste of tl)e World ev¢nl. The QMA will also assist th¢ school's annual Sports Awards ceremony ev¢nl. We will also continue to encourage parents to utilise 'Easy Fundraisin8' to raise funds. All QMA raffles will now be done digitally. Additionally. we also plan to refresh our pool of par¢nt volunteers by recruiting parents from more re¢¢nl cohort. We will continue to monitor and review activities and make amendments to the QMA as required for further development. HOW OUR ACTtVlTES DELIVER PUBLIC BENEFIT The trustees have had regard to the Charity Commission's guidance on Public Benefit. The QMA strives to improve relationships between hotne and school with the benefit of= Providing funding for additional resources for QMGS and links built with the local community. This 15 demonstrated through l)aving an active Parent5, Association that works in partnership with QMGS and engages parental support; and Increased educational progress and attainment of pupils in QMGS and links built with the local community- This is demonstrated through pupils havii)g access to resources, event5, activities and links with tlie local community which are not available througli direct sch(iol funding. Charity trustees are also parents of stud¢nts, or former students. and h¢n¢e gain ben¢fit in tli¢ saTT]e way as all otl)er benefi¢iaries. Thi5 benefit is incidental and n¢¢essary to ensure the benefit is provided to all beneficiaries.
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FINANCIAL REVIEW Finaneial performance The Charity's income for the year ended 31 August 2024 was £31,565. Thei'e was a surplus on activities of £15.313. Allowing for donations agreed of £15,000 tliere was a surplus for tlie year of £313. Th¢ in¢ome was raised from donations received and the activities carried out by tlie Charity during the year. The charity moves into 202412025 with unrestricted funds of £8,979. Reserves Policy and Funds (Unrestricted) Th¢ r¢serv¢s policy has been formulated by the Trustees in litte with recommendation of the Charity Commission of England and Wales. The basic aim is io tnaiiitain free reserves in uiirestricted funds at a level wliich allows it to provide working capital to hold tlie plai)ned events, wliile allowing a contingen¢y for unfor¢s¢¢n circumstances. In the opinion of the Trustees this is currently approximately £5,000. The unrestricted free reserves as at 31 August 2024 are £8,979 and exceed our reserves policy. The Trustees regularly review tlie appropriateness of the reserves policy with regard lo the current environment in which the Charity opcrates. Risk Management- principal risks and uncertainties The trustees are r¢sponsibl¢ for thc identification. mitigation an<Vor management of risk. They have a risk manageinent strategy which comprises.. A review of principal risks and uncertainties that tlie charity faces at each board meeting. The establishment of policies, systems and procedures to mitigate those risks identified in tlie review proccss. The implementation of procedures designed to minimise or manage any potential impact on the charity sliould tliose risks mat¢rialis¢. The trustees have reviewed and uwiated the risk management strategy and policy in 2023024.
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMEf+rrs FOR THE YEAR ENDED 31 AUGUST 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Governing DUMellt The QMA is a cliarity. an unincorporated association, governed by ils Constitution which was approved by its Irustees on 21 June 2017. This is lodged with the Charity Commission. Governance Structure The charity operates wid) a Management Committee which comprises a Chaim)an, a Vi¢¢ Chaimian, a S¢¢relary and a Treasurer, plus one repr¢sentative from each of the working committees (Burns NighL Tastes of the World Eveiil. Summer Event. Bar and Catering) and any number of co-opted members as agreed by the Comtnittee. From tliese, there will b¢ a minimum number of 5 trustee5 as follows- 3 being Chair, and two other parent members 2 pernianent membersltrustees being Headmaster and an Assistant Head. Approved by tlie Trustees on 18th June 2025 and signed on its b¢half by.. Balbir Seimar BEM Trustee Richard Langton Headmaster and Trustee
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Independent Examiner's Report I report to the cliarity trustees oil my examination of the accounts of the cliarity for tlie period ended 31 August 2024 which are set out on pages 7 to 12. Responsibilities and basis of report As the charity's trustees you are reswJnsibl¢ for th¢ preparation of the accounts in accordanc¢ will) the requiretnents of the Charities Act 2011 ('the Act,). I report in respect of my examination of tlie charity's accounts ¢arried out under section 145 of the Act and in carrying oiit my examination I have followed all the applicable Directions given by the Charity Cotllmission under section 145{5Kb) of tl)e Act. Independent examiner's statement I have completed my examination. I confimi that no m&terial matters have come to my attention in connection with tli¢ examination giving me cause to believe that in any material respect.. ountIng records were not kept in respect of the charity as required by $ti0]I 130 of the Act. or 2. the accounts do not accord witli those records. or the accounts do not comply with tlie applicable requirements concerning the fonn and conteiit of accoiints s¢t out in tli¢ Charities (Accounts and Reports) Regulations 2008 other than any requirement that t])e accounts give a 'true and fair view, which is not a matter considered as part of an independent ¢x&mination. I have no concerns and have come across no other matt¢rs in connection with the exainiiiation to which attention should be drawn in this report in order to enable a proper understanding of tlie accounts to be reached. Terence Luckin Chartered Account•nt Whitehouse Ridsdale, 20 Birniingham Road Walsall WSI 2LT June 2025
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 STATEMENT OF FINANCIAL ACTIVITIES Total funds Total funds 2024 2023 Note INCOME FROM: Donations 1.369 30,190 1,213 27,834 Other Trading Activities TOTAL INCOME 31,565 29,047 EXPENDITURE Raisints Funds 16252 15,836 Charitable activities 15,000 20.000 TOTAL EXPENDITURE 31,252 35.386 Nei incomelexpenditur¢ 313 (6,789) NET MOVEMENT Ir FUNDS 313 (6,789) RECONCILIATION OF FUNDS Total funds on 31 August 2022 8.666 15,455 Total fund5 on 31 August 2023 8,979 8,666 All activities derive from continuing operations. The Statetnent of Financial Activities includes all gains and loss¢s recognised in the year.
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 BALANCE SHEET Note 2024 2023 CURREf4T ASSETS Debtor5 Cash at bank Cash in hand 2.442 21.860 547 1,482 8,077 24.849 9,559 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (15.870) (893) NET CURRENT ASSETS 8.979 8.666 TOTAL ASSETS LESS CURRENT LIABILITIES 8,979 8,666 NET ASSETS 8,979 8,666 FUNDS Unre5tTlCted- general funds 8,979 8,666 TOTAL CHARITY FUNDS 8,979 8,666 The accompanying accounting policies and notes form part of these financial statements. Approved by the Trustees on 18th June 2025 and signed on their behalf by.. Balbir Seim#r BEM Trustee Richard Langton Headmaster and Trustee
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Principal accounting policies Basis of aceounting The finan¢ial statem¢nls have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing Ilieir a¢counts in accordance with tlie Financial Reporting Standard applicable in tl)e UK and Republic of Ireland (FRS102) {effe¢tive l January 2015) - (Cliarities SORP (FRS102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRSI 02). In preparing these financial stalements Update Bulletin I to the Charities SORP (FRS102) has been adopted and consequeiiily a Stateinent of Casl) flows has not been prepared. Thc QMA meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historic cost or transaction value unless otlierwise stated in the relevant accounting policy note The financial statetnents are pr¢pared in sterling, wl)ich 15 the functional currency of the charity- Monetary amounts in tliese financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accountiiig policics adoplcd are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Going Concern statement The fiiiancial statements have been prepared on a going concern basis which assumes that the charity will continue to operate. The validity of this assumption is depend¢nt upon the ability to hold events and the continuance of support from the charity's key donors. The trustees consider tliat the charity will b¢ able to operate in tl)e foreseeable future. Based on this understanding ihe trustees believe that it remains appropriate to prepare tlie financial statements on a going concern basis. The financial statements do not include any adjustments. wliicli would result from t]ie basis of pr¢paration being inappropriate. Funds General funds are unrestricted funds which are available for use al the discretion of the trustees in furth¢rance of th¢ g¢n¢ral objectives of ti)e ¢harity and which have not teen designated for otiier purposes. Income All ii)come is recognised in the Statement of Financial Activities wheii tlie charitable b(Kly is legally entitled, ultimate receipt is probable, and the amount can be quantified with reasonable a¢cura¢y. Expenditure Liabilities are re¢ognis¢d as expenditure as soon as there is a legal or ¢onstructive obligation committing th¢ Charitable b(xly to the ¢xp¢nditure. All expenditure is accounted for on an accruals basis. Irrecoverdble VA T is charged as a cosl a8ainst th¢ activity for wl)ich the expenditure was incurred.
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Taxation As a registered charity no provision is considered necessary for taxation. Cash and cash equivalents Cash and casli equivalents includ¢ ¢ash at bank and in hand and short-terni deposits repayable on or within a three-month notice period. Debtors Trade and otlier debtors are recognised at tlie settlement amount due after any trade discoutit off¢r¢d. Prepayments are valued at the nOUnt prepaid n¢t of any trade discounts due. Creditors Creditors are recognised where the charitable body has a pr¢senl obligation resulting from a past event that will probably resiilt in the transfer of funds to a third party and the amolint due to settle th¢ obligation can be measured or estimated reliably. io
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Donations 2024 Total 2023 Total Easy fundraising donations 1,369 1,213 1,369 1,213 Other Trading Activities 2024 2024 Raffles Ticket Sales athd Other Ineome 2024 Total 2023 Total Bums, Night Dinner Tastes of the World Summer Arts Festival Other 2,675 1,546 656 12.806 6.629 5,101 783 15,481 8,175 5.757 783 15,386 7,134 4,258 1,056 4,877 25,319 30,196 27,834 Raising Funds Tot41 2024 Total 2023 Burns, Ni(tht Dinner Tasies of the World Summer Arts F¢stival Other General cosis Independent Examination fee 10,769 3,190 1,802 11,364 2,658 726 618 130 340 80 300 16252 15,836 Charitable Aetivities 2024 2023 Donation to (een Mary's Gramtnar Sch(x)I 15,000 20,000 li
QUEEN MARY'S ASSOCIATION TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Creditors: amounts falling due within one year 2024 2023 Accruals and defeed income 15.870 893 15,870 893 Funds B31aThce at 31August 2023 Balance at 31August 2024 Income Expenditure General Fund 8,666 31,565 31,252 8,979 Total funds 8,666 31,565 31,252 8,979 8. Trustees None of the trustees (or any persons ¢onne¢ted with them) received any remuneration. expenses, or benefits from the charity during the year (2023.. none). 9. Related Parties There were no disclosable related party transactions during the year (2023.. none). 12