REGISTERED CHARITY NUMBER: 1196517
Wells Cathedral School Parents & Friends Association Report of the Trustees and Unaudited Financial Statements for the Period 11 November 2021 to 31 July 2022
Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA
Wells Cathedral School Parents & Friends Association
Contents of the Financial Statements for the period 11 November 2021 to 31 July 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 7 |
| Detailed Statement of Financial Activities | 8 |
Wells Cathedral School Parents & Friends Association
Report of the Trustees for the period 11 November 2021 to 31 July 2022
The trustees present their report with the financial statements of the charity for the period 11 November 2021 to 31 July 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1196517
Principal address
John Wright Pennard House Sticklinch Glastonbury Somerset BA6 8NA
Trustees
J Wright - appointed 25/2/2022 R W Gilbert - appointed 25/2/2022 M Lichter - appointed 25/2/2022 C E Durrant - appointed 25/2/2022
Independent examiner
Barry Davidson FCA, FCCA Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA
COMMENCEMENT OF ACTIVITIES
The CIO was adopted on 25 February 2022 on the transfer of the net assets of the Wells Cathedral School Parents' Association.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
The charity is operated under the rules of its CIO Association as adopted 25 February 2022.
Induction and training of new trustees
The trustees regularly review the charity's needs to ensure that new trustees are recruited with the skills required by the charity.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives of the charity are to advance the education of pupils at Wells Cathedral School by providing and assisting in the provision of facilities for education at the school not normally provided by the school governing body. Ancillary activities include the fostering of more extended relationships between staff, parents and others associated with the school, and engaging in activities which support the school.
Page 1
Wells Cathedral School Parents & Friends Association
Report of the Trustees for the period 11 November 2021 to 31 July 2022
OBJECTIVES AND ACTIVITIES
Public benefit
The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity continues to deliver the charitable outcome for which it was formed.
Fundraising activities
The main sources of income are the optional subscriptions which are added to school fees, and the sale of used school uniform, both on behalf of parents, and the sale of unclaimed lost property.
Other income is generated during the year from various fundraising activities.
Bids are submitted by staff at the school for equipment to support learning and social activities of the pupils, and are voted on by the trustees.
The charity made a surplus of £43,528 for the period.
The reserves of the charity at the balance sheet date were £43,528, which the trustees consider adequate to meet the future needs of the charity.
18/04/2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.............................................
J Wright - Trustee
Page 2
Independent Examiner's Report to the Trustees of Wells Cathedral School Parents & Friends Association
I report on the accounts for the period 11 November 2021 to 31 July 2022, which are set out on pages four to seven.
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 have examined your charity's accounts as required under section 145 of the Charities Act 2011 ('the Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
that accounting records were not kept as required by section 130 of the Act; or
-
that the accounts do not accord with those records; or
-
that the accounts do not comply with the accounting requirements of the Act; or
-
that there is further information needed for a proper understanding of the accounts.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission I have found no matters that require drawing to your attention.
Barry Davidson FCA, FCCA Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA
Date: .............................................
Page 3
Wells Cathedral School Parents & Friends Association
Statement of Financial Activities for the period 11 November 2021 to 31 July 2022
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| INCOMING RESOURCES | ||
| Incoming resources from generated | ||
| funds | ||
| Voluntary income | 1,695 | |
| Incoming resources from charitable | ||
| activities | ||
| Uniform sales | 3,734 | |
| Event fundraising | 4,644 | |
| Support cost | 8,000 | |
| Other incoming resources | 2 | 36,136 |
| Total incoming resources | 54,209 | |
| RESOURCES EXPENDED | ||
| Costs of generating funds | ||
| Costs of generating voluntary income | 718 | |
| Fundraising trading: cost of goods sold and | ||
| other costs | 9,199 | |
| Charitable activities | ||
| Support cost | 764 | |
| Total resources expended | 10,681 | |
| NET INCOMING RESOURCES | 43,528 | |
| TOTAL FUNDS CARRIED FORWARD | 43,528 |
The notes form part of these financial statements
Page 4
Wells Cathedral School Parents & Friends Association
Balance Sheet At 31 July 2022
| Unrestricted | ||
|---|---|---|
| fund | ||
| Notes | £ | |
| FIXED ASSETS | ||
| Tangible assets | 4 | 3,215 |
| CURRENT ASSETS | ||
| Debtors | 5 | 223 |
| Cash at bank | 41,050 | |
| 41,273 | ||
| CREDITORS | ||
| Amounts falling due within one year | 6 | (960) |
| NET CURRENT ASSETS | 40,313 | |
| TOTAL ASSETS LESS CURRENT | ||
| LIABILITIES | 43,528 | |
| NET ASSETS | 43,528 | |
| FUNDS | 7 | |
| Unrestricted funds | 43,528 | |
| TOTAL FUNDS | 43,528 |
18/04/2023
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 5
Wells Cathedral School Parents & Friends Association
Notes to the Financial Statements for the period 11 November 2021 to 31 July 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. OTHER INCOMING RESOURCES
Wells Cathedral School Parents and Friends Association received £36,136 in unrestricted funds from Wells Cathedral School Parents' Association on 25 February 2022 when it transitioned to Charitable Incorporated status.
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the period ended 31 July 2022.
Trustees' expenses
There were no trustees' expenses paid for the period ended 31 July 2022.
Page 6
Wells Cathedral School Parents & Friends Association
Notes to the Financial Statements - continued for the period 11 November 2021 to 31 July 2022
4. TANGIBLE FIXED ASSETS
| Plant and | |||||
|---|---|---|---|---|---|
| machinery | |||||
| £ | |||||
| COST | |||||
| Transfer to ownership | 3,933 | ||||
| DEPRECIATION | |||||
| Charge for year | 718 | ||||
| NET BOOK VALUE | |||||
| At 31 July 2022 | 3,215 | ||||
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| £ | |||||
| Other debtors | 223 | ||||
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| £ | |||||
| Other creditors | 960 | ||||
| 7. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | |||||
| in funds | At 31/7/22 | ||||
| £ | £ | ||||
| Unrestricted funds | |||||
| General fund | 43,528 | 43,528 | |||
| TOTAL FUNDS | 43,528 | 43,528 | |||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 54,209 | (10,681) | 43,528 | ||
| TOTAL FUNDS | 54,209 | (10,681) | 43,528 |
8. INDEPENDENT EXAMINER FEE
Fee payable for the Independent Examination of the financial statements = £540
Page 7
Wells Cathedral School Parents & Friends Association
Detailed Statement of Financial Activities for the period 11 November 2021 to 31 July 2022
| INCOMING RESOURCES Voluntary income Subscriptions Incoming resources from charitable activities Fundraising income Other incoming resources Transferred from WCSPA Total incoming resources RESOURCES EXPENDED Costs of generating voluntary income Plant and machinery Fundraising trading: cost of goods sold and other costs Fundraising costs Subscriptions Charitable activities Insurance Support costs Finance Independent examiner fees Total resources expended Net income |
£ 1,695 16,378 36,136 |
|---|---|
| 54,209 718 9,071 128 |
|
| 9,199 224 540 |
|
| 10,681 | |
| 43,528 |
This page does not form part of the statutory financial statements
Page 8