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 STATEmETr￿S 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 unprec￿ellted 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