REGISTERED CHARITY NUMBER: 1196517 

Wells Cathedral School Parents & Friends Association Report of the Trustees and 

Unaudited Financial Statements for the Year Ended 31 July 2023 

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 year ended 31 July 2023 

|||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|10|
|Detailed Statement of Financial Activities||11||





## Wells Cathedral School Parents & Friends Association 

## Report of the Trustees for the year ended 31 July 2023 

The trustees present their report with the financial statements of the charity for the year ended 31 July 2023. The trustees have adopted the provisions of 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 

## 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. 

## 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'. 

## Grantmaking 

Grants from all areas of the school can be submitted for consideration to the Trustees in accordance with their application policy. 

## 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 deficit of £1,198 for the year. 

## FINANCIAL REVIEW 

## Reserves policy 

The Trustees regularly review reserves to ensure that adequate funds are maintained to continue their charitable purposes. 

The reserves of the charity at the balance sheet date were £42,330 which the trustees consider adequate to meet the future needs of the charity. 

## Going concern 

There are no material uncertainties about the charity's ability to continue 

## 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. 

Page 1 



Wells Cathedral School Parents & Friends Association 

Report of the Trustees for the year ended 31 July 2023 

## REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1196517 

Principal address C/o The Bursary Wells Cathedral School 15 The Liberty Wells Somerset BA5 2ST 

Trustees J Wright (resigned 1/9/2022) R W Gilbert M Lichter C E Durrant (resigned 1/9/2022) R Grevatt (appointed 1/11/2023) E M Willcock (appointed 1/3/2023) 

Independent Examiner Barry Davidson, FCA, FCCA Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA 

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

........................................................................ R Grevatt - Trustee 

Page 2 



## Independent Examiner's Report to the Trustees of Wells Cathedral School Parents & Friends Association 

## Independent examiner's report to the trustees of Wells Cathedral School Parents & Friends Association 

I report to the charity trustees on my examination of the accounts of Wells Cathedral School Parents & Friends Association (the Trust) for the year ended 31 July 2023. 

## Responsibilities and basis of report 

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

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. 

## Independent examiner's statement 

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

1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 

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 accounts to be reached. 

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 year ended 31 July 2023 

||||Period|
|---|---|---|---|
||||11/11/21|
|||Year ended|to|
|||31/7/23|31/7/22|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|INCOME AND ENDOWMENTS FROM||||
|Donations and legacies||6,025|1,695|
|Charitable activities||||
|Uniform sales||12,405|3,734|
|Event fundraising||9,765|12,644|
|Other income|2|-|36,136|
|Total||28,195|54,209|
|EXPENDITURE ON||||
|Raising funds||16,546|9,917|
|Charitable activities|3|||
|Event fundraising||12,411|-|
|Support cost||436|764|
|Total||29,393|10,681|
|NET INCOME/(EXPENDITURE)||(1,198)|43,528|
|RECONCILIATION OF FUNDS||||
|Total funds brought forward||43,528|-|
|TOTAL FUNDS CARRIED FORWARD||42,330|43,528|



The notes form part of these financial statements 

Page 4 



## Wells Cathedral School Parents & Friends Association 

## Balance Sheet 31 July 2023 

|2023<br>Unrestricted<br>fund<br>Notes<br>£<br>FIXED ASSETS<br>Tangible assets<br>6<br>5,710<br>CURRENT ASSETS<br>Debtors<br>7<br>4,862<br>Cash at bank<br>32,640<br>37,502<br>CREDITORS<br>Amounts falling due within one year<br>8<br>(882)<br>NET CURRENT ASSETS<br>36,620<br>TOTAL ASSETS LESS CURRENT LIABILITIES<br>42,330<br>NET ASSETS<br>42,330<br>FUNDS<br>9<br>Unrestricted funds<br>42,330<br>TOTAL FUNDS<br>42,330|2022<br>Total<br>funds<br>£<br>3,215<br>223<br>41,050<br>41,273<br>(960)<br>40,313<br>43,528<br>43,528<br>43,528<br>43,528|
|---|---|



The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. R Grevatt - Trustee 

The notes form part of these financial statements 

Page 5 



Wells Cathedral School Parents & Friends Association 

## Notes to the Financial Statements for the year ended 31 July 2023 

## 1. ACCOUNTING POLICIES 

## Basis of preparing the financial statements 

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 

The financial statements are prepared in sterling rounded to the nearest £. 

## Income 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## Expenditure 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## Tangible fixed assets 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Plant and machinery 

- 10% on cost 

## 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. 

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continued... 



## Wells Cathedral School Parents & Friends Association 

## Notes to the Financial Statements - continued for the year ended 31 July 2023 

## 2. OTHER INCOME 

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. CHARITABLE ACTIVITIES COSTS 

|CHARITABLE ACTIVITIES COSTS|||
|---|---|---|
|Event fundraising<br>Support cost|Grant<br>Direct<br>funding of<br>Support<br>Costs<br>activities<br>costs<br>£<br>£<br>£<br>724<br>10,487<br>1,200<br>736<br>-<br>(300)<br>1,460<br>10,487<br>900|Totals<br>£<br>12,411<br>436|
|||12,847|



## 4. TRUSTEES' REMUNERATION AND BENEFITS 

There were no trustees' remuneration or other benefits for the year ended 31 July 2023 nor for the period ended 31 July 2022. 

## Trustees' expenses 

There were no  trustees' expenses paid for the year ended 31 July 2023 nor for the period ended 31 July 2022. 

## 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 

||Unrestricted|
|---|---|
||fund|
||£|
|INCOME AND ENDOWMENTS FROM||
|Donations and legacies|1,695|
|Charitable activities||
|Uniform sales|3,734|
|Event fundraising|12,644|
|Other income|36,136|
|Total|54,209|
|EXPENDITURE ON||
|Raising funds|9,917|
|Charitable activities||
|Support cost|764|
|Total|10,681|
|NET INCOME|43,528|
|TOTAL FUNDS CARRIED FORWARD|43,528|



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continued... 



## Wells Cathedral School Parents & Friends Association 

## Notes to the Financial Statements - continued for the year ended 31 July 2023 

|6.|TANGIBLE FIXED ASSETS|||||
|---|---|---|---|---|---|
||||||Plant and|
||||||machinery|
||||||£|
||COST|||||
||At 1 August 2022||||3,933|
||Additions||||3,209|
||At 31 July 2023||||7,142|
||DEPRECIATION|||||
||At 1 August 2022||||718|
||Charge for year||||714|
||At 31 July 2023||||1,432|
||NET BOOK VALUE|||||
||At 31 July 2023||||5,710|
||At 31 July 2022||||3,215|
|7.|DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
||||2023||2022|
||||£||£|
||Other debtors||4,621||-|
||Prepayments||241||223|
||||4,862||223|
|8.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
||||2023||2022|
||||£||£|
||Trade creditors|||222|-|
||Other creditors|||660|960|
|||||882|960|
|9.|MOVEMENT IN FUNDS|||||
||||Net|||
||||movement||At|
|||At 1/8/22|in funds||31/7/23|
|||£|£||£|
||Unrestricted funds|||||
||General fund|43,528|(1,198)||42,330|
||TOTAL FUNDS|43,528|(1,198)||42,330|



Page 8 

continued... 



## Wells Cathedral School Parents & Friends Association 

## Notes to the Financial Statements - continued for the year ended 31 July 2023 

## 9. MOVEMENT IN FUNDS - continued 

Net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|Unrestricted funds||||
|General fund|28,195|(29,393)|(1,198)|
|TOTAL FUNDS|28,195|(29,393)|(1,198)|



## Comparatives for movement in funds 

||Net||
|---|---|---|
||movement|At|
||in funds|31/7/22|
||£|£|
|Unrestricted funds|||
|General fund|43,528|43,528|
|TOTAL FUNDS|43,528|43,528|



Comparative 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|



## 10. RELATED PARTY DISCLOSURES 

There were no related party transactions for the year ended 31 July 2023. 

Page 9 

continued... 



Wells Cathedral School Parents & Friends Association 

## Notes to the Financial Statements - continued for the year ended 31 July 2023 

## 11. INDEPENDENT EXAMINER FEE 

Fee payable for the Independent Examination of the financial statements = £900 

Page 10 



## Wells Cathedral School Parents & Friends Association 

## Detailed Statement of Financial Activities for the year ended 31 July 2023 

|||Period||
|---|---|---|---|
|||11/11/2|1|
||Year ended|to||
||31/7/23|31/7/22||
||£|£||
|INCOME AND ENDOWMENTS||||
|Donations and legacies||||
|Subscriptions|6,025|1,695||
|Charitable activities||||
|Fundraising income|22,170|16,378||
|Other income||||
|Transferred from WCSPA|-|36,136||
|Total incoming resources|28,195|54,209||
|EXPENDITURE||||
|Raising donations and legacies||||
|Plant and machinery|714|718||
|Other trading activities||||
|Fundraising costs|15,692|9,071||
|Subscriptions|140|128||
||15,832|9,199||
|Charitable activities||||
|Insurance|706|224||
|Sundries|754|-||
|Grants to institutions|10,487|-||
||11,947|224||
|Support costs||||
|Finance||||
|Independent examiner fees|900|540||
|Total resources expended|29,393|10,681||
|Net (expenditure)/income|(1,198)|43,528||



This page does not form part of the statutory financial statements 

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