FRIENDS OF SHOREHAM ACADEMY TRUSTEES, REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR TO 31sr AUGUST 2024 e8lstered Charlty Number.. 1181680 Reglstered Company Number. CE016279 fEr￿land and Wales) FRIENDS OF SHOREHAM ACADEMY INDEX PAGE Trustees. Report Independent Examiners Report ststement of Financial ActivitiÈ5 Balance Sheet Notes to the Financial Statements io Page12 FRIENDS OF SHOREHAM ACADEMY TRUSTEES. ANNUAL REPORT Members of the Mana ement Committee Trustees Trustee5 for the purpose of charity law. and who served during the period and up to the date of this report a￿.. Trustee Name Office rfan Rosanne Hill Chair Katy Beadell rim Harkins Treasurer Hayley Hill Jim Coupe Donna Churchill Other names charity is known by.. FOSA Re8iStered CharÉty No. 1181680 Address= Sho￿haM Acaderny Kingston Lane Shoreham by Sea BN43 6 Ob-ectives and activities Page13 FRIENDS OF SHOREHAM ACADEMY To positively promote partnershlps and collaboratlons between the academy, parentslcarers and other memberslbuslnesses within the local commun(ty, to enhance the education of the pupils at the Bcademy. To 5UPPOrt the academy in raislng funds In support of all puplls and staff, In order that they have opportunitles an(1 experlences that enable them to be the best that they can be- academically and beyond. To act as a liaison between arents carers and the academ practice for the interest of staff, pupils and parentslcarers. on general school matters; 5UPPOrting policy and Main activitie5: Blngo Night- open to all puplls, ex puplls and the local community- A small refreshments stall was provSded and a raffle. Chrlstm85 Craft Market- accesslng the expertlse from local crafters Includlng parentslcarers. In addition, local food companies were Invited, and a percenla8e of their profits was awarded to FOSA. All stall holders provlded a small 81ft whlch was raffled. VarloLtrS muslc & drama productlons- open to all puplls, ex puplls and the local communlty. A busv refreshrnent stall was run at each event. Easter raffle- chocolate prlzes were donated and tlckets sold vla parentpav. ContrlbutSon by volunt•er$: All colleagues, FOSA and wlder tommunlty that contrlbute to the above actlvltles offer thelr 5eNlces for free. No payment is made to any'volunteel. The Chalr and supportlng colleagues tend to offer forfree Items that contrlbute- for èxample most provide free raffle prizes. Local business and retall have provlded free raffle pr12es. Achievement and erformanc Maln achlevements: Blngo Nl8ht. Chrlstmas Craft Market. Quiz nlght Summary ofthe maln achlevements: The current arrangement is that to access monles raised throu8h the above activlties, colleagues at the academy are required to submit a Request for Funds. All bids are considered in during the academic year followinB the majority of FOSA activities. FOSA revlew the requests underthe followlng prlndples: To support the mental health and wellbeing of staff and pupil5. To support groups of learnets that might be disadvantaged. To support individual and hiBh-risk families unable to access full educational opportunities. Impact and sustainability- inytiatives that have longevity and can enrich the environment. Page14 FRIENDS OF SHOREHAM ACADEMY For 2023- 2024 awards Drama blocks Camera for Art department Keyboards Forest School Bike BySld Flnanclal review Reserves are part of FOSA unre5tTiCted funds that are deemed freely available to Spend on any of the charitV5 purpose, with exclusion of re5trlcted income and endowment fund5. OR The amount of money that FOSA holds unspent as a buffer agalnst those 'ralny days,. where, for a variety of reasons, FOSA flnds that Its payments are outstripping its recelpt5 in a way that, without reseNes, the charlty would be unable to pay Its bllls on tlme. The Charity's principal sour￿$ of fvnds are from a variety of events- craft market. blngo nl8ht and providing refreshments at school events. How expendlture has supported the key oblectlves of the charlty.. DevelopSng partnershlps - the Craft market Involved partnershlp5 wlth local bu51ne55es. The craft market was a ronnectlon wSth local crafters using the academy a5 a venue to Bet together and share and Sell their crafts thus supporting local crafters network. Ralsln¢ funds- these events allowed funds to be raised. From Taffle prlzes to recelvln8 an a8reed % donation from all buslnesses that we were In partnershlp wlth. Contrlbutlng to pollcy and practl¢e- the total funds raised were dlscus5ed with the Prlnclpal and SLT alongslde other collea8ues to Identlfy where fund5 could be approprlately to support students and the AIPS. Investment pollLy- The funds ralsed are not used for tFie purposes of Investment. Page15 FRJENDS OF SHOREHAM ACADEMY Slgned on behalf of the ¢harrVs tru5ttss gnature Full Name Rosanne Hill PosStlon: Chair Date Independent Examlnerfs Rem to the Tn￿ee5 of FrwKis of sh0￿M Aodemv Page | 6 FRIENDS OF SHOREHAM ACADEMY I report ontheaccountsof theTrustforthe yÈarÈnded 31stAu8ust2024.. Respettive rtSW5ibilit*$ of TnLStees and Ewamlner TheChatity'sTrustee5 arerespon5ibleforthe prep3r*KJnof thea£o)unts.TheChariVsTrustees considerthatan audlt is not requiredfoFthisyear undersection 1414121 of the CtharitiesAct 2011 lthe 2011Actl andthatan Independeftt examination is needed. It is my responsibllltyto.. - exarllinethe accounts unders￿￿)￿ 145 ofthe 2011Actr. -to followthe procedures laid down inthe general DirectH)n5 given bythe Charity Cornrni5SiOn UnderseCt￿n 14515llbl of the2011 Act-and -tosratewhether particular matter5 havecometo myatteTrtion. Ba515 ofln&pendent Examirrfs ￿P￿t My examination wascarriedout in acCO￿lar￿eWiththegeneral DirettKinsxNen bytheChaTtty Comrnission. An examTnation iHcludesa review of theac£oLJnting recordskept bythecharityand a comparison of the accounts presented withthose records. Ita￿0 includesconsideration of any untssual ttems or disclosures in theaccounts, and seekingexplanatx>nsfrom you a5Trv5tee5conceminganyS￿h matters. TheprOCedu￿ undertaken do not provide all the evidencethat would be required in an audit consequentfy no opinion is8iven asto whethÈrtheaccounts presenta'true andfairvtew. and the repw)rt i5 limited tothose matterssetout in the ￿tement below. Indepndent Examiner'sSt•iemtnt In connection with my examirwtion. no matter hascomÈto mYattent￿n. 111 whichgives me reasonaNecauseto believethèt inanymaterial aspectthe requirements". -to keep attounting records tn accOrdan￿W[th seLtion 130of the 2011 ACL. an¢J -to prepareaccountswhKhaccord WFththeaccourrtingrecords and comptywith theactountin requlrementsof the2011 ALt have not been Tnet.. or 121 to whlch. In myoplnlon. attent￿nshOuld be drawn rn orderto enablea propÈr understandingof theaccounts to be reached. Signed.. Dated: 1011125 Page17 FRIENDS OF SHOREHAM ACADEMY srATEMENT OF FINANCIAL ACTIVITIES {Incorporating income and expenditure ar¢ountl FOR THE YEAR TO 31ST AUGUST 2024 NOTE Unrestrlcted funds Restricted fvnds Total funds 2024 Total funds 2023 INCOMING RESOURCES Donation and legacies Charitable activities Other irading activitles Investment Income 723 10,225 14,547 14,547 TOTAL INCOMING RESOURCES 14.$47 14,547 10,948 RfSOURCES EXPENOED Raisin8 funds Charltable activltles Mana8ement and admlnlstratlon 3,505 3,499 396 3,$05 3N99 396 9,516 117 TOTAL RESOURCES EXPENDED 7,400 io,iJi Nrf INCOMVIEXPENDITUREI FOR THE YEAR 7,147 7,147 817 Transfer between funds MOVEMENT IN TOTAL FUNDS FOR THE YEAR 7,147 7,147 817 Total fvnds at I September 2023 8,306 FUNDS AT31 AUGusf 2024 15A53 15N5Y 8,306 Page18 FRIENDS OF SHOREHAM ACADEMY BAiANCE SHEET A5 AT al￿ AUGUST 2024 Notes Unrestricted funds Restrlcted funds 2024 Total 2023 Total FIXED ASSErs Tangible Assets CURRENT ASSErs Cash at Bank and in Hand Debtors Other Debtors and prepayments 17.288 17,288 8,306 17,288 17,2 8,306 CREDITORS: amounts fallln8 due wlthln one year 1,835 1,835 NET CURRENT ASSETS 15,453 15,453 8A06 NET ASSETS 15,453 15A53 8.306 CHARITY FUNDS Unrestrltted funds Restrlrted funds ISA53 8A06 TOTAL FUNDS 15N536 Page19 FRIENDS OF SHOREHAM ACADEMY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 I. ACCOUNTING POUCIES Bast5 of preparatlon of flnandal statements The Financial Statements have been prepared In accordance with thÈ Statement of Recommended Practice 'Accountin8 and Reporting by Charities, lupdate bulletin l applying FRS 1021 and the Charitie5 Act 2011. They have been PTepared on the hSstorlcal cost convention. as modifie(I to include the revaluatlon of freehold property. Fund a¢￿untIn£ General funds are unrestricted funds whlch are available for use at the dlscretion of the Trustees In furtherance of the general objectives of the charity and which have not been desl8nated for other purposes. Incomlng resource5 All Incomlng resources are included the Ststement of financial acrlvStle5 when the charity Is le8ally entitled to the Income and the amount can be quantified wlth reasonable accvracy. Resources expended Expendlturels re¢ognised when a Ilablllty Is Incutted, when there Is a legal or constrvctlve obllgatlon commlttln8 the charlty to the expendlture and the obllgatlon can be measured rellably. Related Party Dlsclosures Durlng the year the charlty made donatlons to school departments of Shoreharn Academy, thls year a total of £3,498 was donated. NOTES TO THE FINANCIAL MOVEMENT IN FUNDS Asat 119123 Net movement In funds Transfers between funds Asat 3118124 Unrestrjrted lunds General fund 8,306 7.147 15,453 Restricted funds At 3tst August 2024 8306 7,147 15,453 Page l io