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2023-08-31-accounts

Charity registration number 1179631

WATFORD POLISH SATURDAY SCHOOL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

WATFORD POLISH SATURDAY SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Clarke A Siuciak M Dzianott A Giemza M Salaga (Appointed 1 December 2022) E Konopnicka (Appointed 24 June 2023) Charity number 1179631 Principal address Holywell Community Centre Chaffinch Lane Tolpits Lane Watford Hertfordshire WD18 9QD Independent examiner John Wilson FCA ATII Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE

WATFORD POLISH SATURDAY SCHOOL

CONTENTS

Page
Trustees' report 1 - 2
Statement of trustees' responsibilities 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 15

WATFORD POLISH SATURDAY SCHOOL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2023

The trustees present their annual report and financial statements for the year ended 31 August 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The object of the charity is the advancement of education for the public benefit in particular but not exclusively in the subjects of the Polish language and culture, traditions and history.

This aim is furthered mainly, but not exclusively, through the running of a supplementary school to prepare children and young people for GCSE exams. Classes are held in Watford, during term time, on Saturday mornings and run from 9am to 1 pm. Most beneficiaries are children, young people and families from this local area. The Trustees may also advance the object through other means as they decide, such as educational activities in the wider community.

The activities include:

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The Charity activities during the year were the provision of Supplementary Education and encouragement to learning for young people between the ages of three to sixteen.

The School employs 18 teachers and 3 teaching assistants to teach children and young people of different ages and ensuring high standards of teaching to enable the young people to take their GCSE examination. In addition, the School has a library open to all students and parents.

WATFORD POLISH SATURDAY SCHOOL

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Financial review

During the year the charity made a deficit of £3,621 (2022 - surplus £21,379). The balance on reserves at 31 August 2023 was £20,356 of which £135 was restricted, (2022 - £23,977 of which £15,226 was restricted funds).

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity was established on 21 August 2018.

The trustees who served during the year and up to the date of signature of the financial statements were: A Clarke

A Siuciak

M Dzianott A Giemza M Salaga (Appointed 1 December 2022) E Konopnicka (Appointed 24 June 2023)

None of the trustees has any beneficial interest in the charity.

The trustees' report was approved by the Board of Trustees.

Agnieszka Giemza

A Giemza

Trustee Dated: 26 June 2024

WATFORD POLISH SATURDAY SCHOOL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2023

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

WATFORD POLISH SATURDAY SCHOOL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WATFORD POLISH SATURDAY SCHOOL

I report to the trustees on my examination of the financial statements of Watford Polish Saturday School (the charity) for the year ended 31 August 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by 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 now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Campbell Wilson

John Wilson FCA ATII

Howard Wilson Chartered Accountants 36 Crown Rise Watford Hertfordshire WD25 0NE

Dated: 26 June 2024

WATFORD POLISH SATURDAY SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and
legacies
3
-
498
Provision of
educational services
4
91,907
-
Other trading
activities
5
16,449
3,478
Other income
6
80
-
Total income
108,436
3,976
Expenditure on:
Raising funds
7
11,700
1,881
Provision of
educational services
8
85,221
17,231
Total expenditure
96,921
19,112
Net incoming/(outgoing)
resources before
transfers
11,515
(15,136)
Gross transfers
between funds
(45)
45
Net income/(expenditure)
for the year/
Net movement in funds
11,470
(15,091)
Fund balances at 1
September 2022
8,751
15,226
Fund balances at 31
August 2023
20,221
135		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
498
-
23,160
91,907
90,119
-
19,927
6,099
1,294
80
-
-
112,412
96,218
24,454
13,581
6,632
1,436
102,452
83,291
7,934
116,033
89,923
9,370
(3,621)
6,295
15,084
-
(142)
142
(3,621)
6,153
15,226
23,977
2,598
-
20,356
8,751
15,226		 Total
2022
£
23,160
90,119
7,393
-
Donations and
legacies
3
Provision of
educational services
4
Other trading
activities
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Provision of
educational services
8
Total expenditure
Net incoming/(outgoing)
resources before
transfers
Gross transfers
between funds
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1
September 2022
Fund balances at 31
August 2023
120,672
8,068
91,225
99,293
21,379
-
21,379
2,598
23,977

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

WATFORD POLISH SATURDAY SCHOOL

BALANCE SHEET

AS AT 31 AUGUST 2023

2023
Notes
£
Current assets
Cash at bank and in hand
47,971
Creditors: amounts falling due within
one year
12
(27,615)
Net current assets
Income funds
Restricted funds
15
Unrestricted funds		 2022
£
£
51,452
(27,475)
20,356
135
20,221
20,356		 £
23,977
15,226
8,751
23,977

The financial statements were approved by the Trustees on 26 June 2024

Agnieszka Giemza

A Giemza Trustee

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

Charity information

Watford Polish Saturday School is an unincorporated charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are funds received which can only be used for the specific purpose as laid out by the donor. Expenditure which meets this criteria is identified to the fund. The aim and use of each restricted fund is set out in the note to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of VAT.

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.7 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

3 Donations and legacies

Restricted Restricted Restricted Restricted
funds funds
2023 2022
£ £
Grants 498 23,160
Grants receivable for core activities
Polish Government Grant - 23,160
Watford Community Trust 498 -
498 23,160

4 Provision of educational services

Provision of
educational
services
Provision of
educational
services
2023
2022
£
£
91,907
90,119
Total Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
2022
£
£
£
£
8,865
873
1,294
2,167
11,062
5,226
-
5,226
19,927
6,099
1,294
7,393		 Provision of
educational
services
Provision of
educational
services
2023
2022
£
£
91,907
90,119
Total Unrestricted
Restricted
Total
funds
funds
2023
2022
2022
2022
£
£
£
£
8,865
873
1,294
2,167
11,062
5,226
-
5,226
19,927
6,099
1,294
7,393
2022
£
90,119
Fees receivable
Other trading activities
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Fundraising events
5,387
3,478
Bakery income
11,062
-
Other trading activities
16,449
3,478
Total
2022
£
2,167
5,226
7,393

5 Other trading activities

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

6 Other income

Unrestricted Total
funds
2023 2022
£ £
Other income 80 -

Total 2022 £ 6,632 1,436 8,068 8,068
Restricted funds 2022 £ - 1,436 1,436 1,436
Unrestricted funds 2022 £ 6,632 - 6,632 6,632
Total 2023 £ 10,553 3,028 13,581 13,581
Restricted funds 2023 £ - 1,881 1,881 1,881
Unrestricted funds 2023 £ 10,553 1,147 11,700 11,700
Raising funds Fundraising and publicity Bakery costs Other fundraising costs Fundraising and publicity
7

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

8 Provision of educational services

Staff costs
Training
Premises costs
Insurance costs
Office costs
Computer costs
Travel and subsistence costs
Bank charges and other finance costs
Governance costs
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
48,898
1,096
36,000
399
12,196
2,217
527
202
917
102,452
85,221
17,231
102,452		 2022
£
43,147
1,409
37,993
314
4,284
2,578
442
223
835
91,225
83,291
7,934
91,225

Governance costs comprise independent examiner's fee of £917 (2022 - £835).

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

Education services
Employment costs
Wages and salaries		 2023
Number
28
2023
£
48,898		 2022
Number
29
2022
£
43,147

There were no employees whose annual remuneration was more than £60,000.

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12 Creditors: amounts falling due within one year

Notes
Deferred income
13
Accruals and deferred income
Deferred income relates to fees received in advance of the next academic year.
Deferred income
Other deferred income		 2023
£
26,696
919
27,615
2023
£
26,696
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 September 2022
Released from previous periods
Resources deferred in the year
Deferred income at 31 August 2023

13 Deferred income

14 Retirement benefit schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: Movement in funds
Movement in funds		 Incoming
Resources
Transfers
Balance at
Incoming
Resources
Transfers
Balance at		 resources
expended
1 September
resources
expended
31 August		 2022
2023		 £
£
£
£
£
£
£
£		 Secret Santa Fund
1,294
(1,436)
142
-
1,843
(1,881)
38
-		 Polish Government Grants
23,160
(7,934)
-
15,226
-
(15,226)
-
-		 Watford Community Trust
-
-
-
-
498
(505)
7
-		 Memorial Plaque Fund
-
-
-
-
1,635
(1,500)
-
135		 24,454
(9,370)
142
15,226
3,976
(19,112)
45
135		 The Secret Santa Fund is funds received for the purchase of gifts for pupils. The grants from the Polish Government were to fund salaries and classroom expenses. The grant from Watford Community Trust is to fund the purchase of sensory toysfor autistic and ADHD pupils. The Memorial Plaque Fund is for a remembrance plaque for the Polish community in Watford.
15

WATFORD POLISH SATURDAY SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

16
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
August 2023 are
represented by:
Current assets/(liabilities)
20,221
135
20,221
135		 Total Unrestricted
funds
Restricted
funds
2023
2022
2022
£
£
£
20,356
8,751
15,226
20,356
8,751
15,226		 Total
2022
£
23,977
23,977

17 Related party transactions

There were no disclosable related party transactions during the year.