Treasurer’s Report for Fiscal year 2023/2024
Delivered on 6/2/2025 at the AGM by Richard Grevatt
On behalf of all the committee members I would like to thank the leadership at the school for their continued support throughout the year, most notably Alastair Tighe and Jody Wells. A special mention should also go to Trevor Phillips, and Michelle Bennetts for the continued support from the Catering department, without whom we would not be able to host many of our events. I would also be remiss if I did not thank Wayne Bradshaw and his exceptional team in the Grounds department for all the hard work they do in shuffling around the kit we need to facilitate our events.
I am happy to report that the accounting functions of the PFA have finally entered the current electronic age. We have closed 2 paper-based accounts, replaced them with one current account which allows us to process payments digitally and have access to digital statements. This was a much-needed step for us. We have also began using an online accounting software that enables us to maintain accurate up to the minute reporting and reconciliations.
In conjunction with these changes, we have put in place more robust cash handling procedures around events which have allowed us to accurately measure the performance of individual events. All in all, some positive changes have begun and have continued into the new year.
For fiscal 2023/2024 our income has increased by 15% over the previous year, in a large part due to the hard work of Ann Whalley and Hannah Candlin in making the summer ball a huge success as well as the efforts of Louise Tulley within the uniform shop which has shown an increase of almost 25% over last year.
The entire committee should feel proud of the fact that at the same time our income increased, our expenses have reduced year on year. This is a testament to the hard work of the committee and the many volunteers that work tirelessly to provide the support needed to organise and run our events.
One problematic area that we face when looking back over the fiscal year is that we were unable to provide as much funding as we would like. There are many reasons for this but primarily this is due to a lack of funding requests from the school body. This is something that the committee are keenly aware of and are taking measures to increase the awareness of what we do and who we can provide assistance to. Hopefully the committee’s actions will see that we turn this around for next year and increase the number of contributions we can provide. The result of this activity is that the WCSPFA completed the year with a surplus of £5880.64, which will be rolled into the available charitable funds for fiscal 2024/2025.
With this year’s surplus taken into account we now have in excess of £40000 in our account. In short, we have too much money in the bank and need to disburse more each year to enable us to provide as much “cherry on top” to the students as possible in the coming years. The proper handling of this surplus is a priority task for the committee to sort out this year.
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Finally, the committee would like to offer a huge thank you to our chair, Marcel Lichter in what is expected to be his final year in that capacity. Whilst Marcel has agreed to stay involved, we are not certain if his other commitments will allow for his inclusion on the committee or to act on a volunteer basis. Either way we would be delighted to have him involved in any capacity. Thank you, Marcel, from all of us that have had the pleasure to work with you over the past few years.
Wells Cathedral School PFA
Detailed Statement of Financial Acitvites (All combined accounts) Year ending 31 July 2024
| Income & Endowments Aucton Proceeds Subscriptons (WCS) Fundraising Events Uniform Sales Total Income Less Cost of Sales Expenditures on raising funds Uniform Shop (to parents, houses) Total Cost of Sales Gross Proft Less Expenses Labour (Uniform Shop) Sub Contractors (WCS Catering, lightng, band) Marketng Postage Equipment Hire Accountng Fees Subscriptons Insurance Meetng refreshments Total Expenses Less Charitable Donatons Bid donatons Donatons to WCS (freworks, music department) Total Charitable Donatons Net Proceeds |
Major Events 4,339.54 Revenue Proft 6,465.50 Summer Ball 9,757.15 6,526.32 10,095.90 Sports Days 1,794.70 1,228.08 11,140.52 Jazz Picnic 1,922.92 1,765.00 32,041.46 Uniform Shop 11,140.52 3,449.12 24,615.29 5,256.16 Donatons Made 4,342.41 Dance Floor 1,094.87 9,598.57 Lego sets 1,483.20 Visualizer for Geo Dept. 478.80 22,442.89 Pizza Oven 1,483.20 SEND equipment 478.77 Fun funds 1,378.10 3,348.99 5,302.07 3,558.94 29.00 Wells Cathedral School PFA 11.40 Statement of Financial Positon (All combined accounts) 30.00 Year ending 31 July 2024 720.00 153.00 96.00 General Account 3563.37 198.95 Uniform Account 325.49 8,146.28 Bankline Account (New) 35743.71 Cash in hand 1813.15 41445.72 5,302.07 3,114.00 8,416.07 5,880.54 |
|---|---|
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Created 30 May 2025 From Date 1 August 2023 To Date 31 July 2024
Wells Cathedral Parents and Friends Association Profit & Loss Statement
(All values reported in GBP)
Turnover
| 4010 Uniform Sales 4011 Subs 4012 Fundraising 4013 Auction Proceeds Total Turnover Less Cost of Sales |
11,140.52 6,465.50 10,095.90 4,339.54 32,041.46 |
|---|---|
| 5000 General Purchases 5202 COGS - Uniform Total Cost of Sales Gross Profit Less Expenses |
(5,256.16) (4,342.41) (9,598.57) 22,442.89 |
| 6000 Productive Labour 6002 Sub-Contractors 6200 Marketing and Sales Promotions 6204 Bid Donations 7501 Postage and Carriage 7601 Audit and Accountancy Fees 7700 Equipment Hire 8200 Donations 8201 Subscriptions 8204 Insurance 8205 Refreshments / Staff Welfare 9998 Suspense Account Total Expenses Profit Before Tax |
(3,348.99) (3,558.94) (29.00) (5,302.07) (11.40) (720.00) (30.00) (3,114.00) (153.00) (96.00) (198.95) 33,628.41 17,066.06 39,508.95 |
REGISTERED CHARITY NUMBER: 1196517
Wells Cathedral School Parents & Friends Association Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 July 2024
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 2024
| 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 | 9 |
| Detailed Statement of Financial Activities | 10 |
Wells Cathedral School Parents & Friends Association
Report of the Trustees for the year ended 31 July 2024
The trustees present their report with the financial statements of the charity for the year ended 31 July 2024. 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 surplus of £164 for the year (2023 - deficit of £1,198).
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 £42,494 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.
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Wells Cathedral School Parents & Friends Association
Report of the Trustees for the year ended 31 July 2024
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 R W Gilbert M Lichter (resigned 6/2/2025) R Grevatt (appointed 1/11/2023) E M Willcock T L Loveridge (appointed 24/2/2025)
Independent Examiner Barry Davidson, FCA, FCCA Webb & Co Ltd Accountants and Business Advisers One New Street Wells Somerset BA5 2LA
05/06/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
...................................................................... R Grevatt - Trustee
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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 2024.
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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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: .............................................
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Wells Cathedral School Parents & Friends Association
Statement of Financial Activities for the year ended 31 July 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 6,466 Charitable activities Uniform sales 11,292 Event fundraising 10,088 Total 27,846 EXPENDITURE ON Raising funds 19,902 Charitable activities 2 Event fundraising 7,000 Support cost 780 Total 27,682 NET INCOME/(EXPENDITURE) 164 RECONCILIATION OF FUNDS Total funds brought forward 42,330 TOTAL FUNDS CARRIED FORWARD 42,494 |
2023 Total funds £ 6,025 12,405 9,765 28,195 16,546 11,947 900 29,393 (1,198) 43,528 42,330 |
|---|---|
The notes form part of these financial statements
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Wells Cathedral School Parents & Friends Association
Balance Sheet 31 July 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 5 5,513 CURRENT ASSETS Debtors 6 - Cash at bank and in hand 41,421 41,421 CREDITORS Amounts falling due within one year 7 (4,440) NET CURRENT ASSETS 36,981 TOTAL ASSETS LESS CURRENT LIABILITIES 42,494 NET ASSETS 42,494 FUNDS 8 Unrestricted funds 42,494 TOTAL FUNDS 42,494 |
2023 Total funds £ 5,710 4,862 32,640 37,502 (882) 36,620 42,330 42,330 42,330 42,330 |
|---|---|
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
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Wells Cathedral School Parents & Friends Association
Notes to the Financial Statements for the year ended 31 July 2024
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.
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continued...
Wells Cathedral School Parents & Friends Association
Notes to the Financial Statements - continued for the year ended 31 July 2024
2. CHARITABLE ACTIVITIES COSTS
3.
| CHARITABLE ACTIVITIES COSTS | ||
|---|---|---|
| Event fundraising Support cost OTHER Support costs |
Grant Direct funding of Support Costs activities costs £ £ £ 788 6,212 - - - 780 788 6,212 780 2024 £ 780 |
Totals £ 7,000 780 |
| 7,780 | ||
| 2023 £ 900 |
Included in Support costs is the Independent Examiner fee of £780 - (2023 -£900).
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
5.
TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Plant and | |
| machinery | |
| £ | |
| COST | |
| At 1 August 2023 | 7,142 |
| Additions | 575 |
| At 31 July 2024 | 7,717 |
| DEPRECIATION | |
| At 1 August 2023 | 1,432 |
| Charge for year | 772 |
| At 31 July 2024 | 2,204 |
| NET BOOK VALUE | |
| At 31 July 2024 | 5,513 |
| At 31 July 2023 | 5,710 |
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Wells Cathedral School Parents & Friends Association
Notes to the Financial Statements - continued for the year ended 31 July 2024
6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Other debtors | - | 4,621 | ||
| Prepayments | - | 241 | ||
| - | 4,862 | |||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Trade creditors | 3,720 | 222 | ||
| Other creditors | 720 | 660 | ||
| 4,440 | 882 | |||
| 8. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/8/23 | in funds | 31/7/24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 42,330 | 164 | 42,494 | |
| TOTAL FUNDS | 42,330 | 164 | 42,494 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 27,846 | (27,682) | 164 | |
| TOTAL FUNDS | 27,846 | (27,682) | 164 | |
| Comparatives for 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 |
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Wells Cathedral School Parents & Friends Association
Notes to the Financial Statements - continued for the year ended 31 July 2024
8. MOVEMENT IN FUNDS - continued
Comparative 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) |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2024.
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Wells Cathedral School Parents & Friends Association
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the year ended 31 July 2024 | |||
| 2024 | 2023 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Subscriptions | 6,466 | 6,025 | |
| Charitable activities | |||
| Fundraising income | 21,380 | 22,170 | |
| Total incoming resources | 27,846 | 28,195 | |
| EXPENDITURE | |||
| Raising donations and legacies | |||
| Plant and machinery | 772 | 714 | |
| Other trading activities | |||
| Fundraising costs | 18,977 | 15,692 | |
| Subscriptions | 153 | 140 | |
| 19,130 | 15,832 | ||
| Charitable activities | |||
| Insurance | 337 | 706 | |
| Sundries | 451 | 754 | |
| Grants to institutions | 6,212 | 10,487 | |
| 7,000 | 11,947 | ||
| Support costs | |||
| Finance | |||
| Independent examiner fees | 780 | 900 | |
| Total resources expended | 27,682 | 29,393 | |
| Net income/(expenditure) | 164 | (1,198) |
This page does not form part of the statutory financial statements
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