NEWSTEAD WOOD PARENTS' ASSOCIATION
ANNUAL REPORTS AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2022
NEWSTEAD WOOD PARENTS' ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Management Board Members Rajen Kandel Chairperson Rewani Senaratna Vice Chairperson Xinyun Wang Treasurer Lola Enape Secretary Syed Hussain Advisor Charity Number 272614 Registered Office c/o Newstead Wood School Avebury Avenue Orpington Kent BR6 9SA Bank Nat West Bank
| CONTENTS | PAGE |
|---|---|
| Trustees' Annual Report | 3 - 8 |
| Independt | |
| Examiners | |
| Report | 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Notes to the Financial Statements | 12-14 |
NEWSTEAD WOOD PARENTS ASSOCIATION
Trustees Annual report for FY 21-22
- 1 Introduction
The Trustees of the Newstead Wood Parents Association (NWPA), who are also the management committee members of the association, submit their report and financial statement for the financial year ended 31st July 2022.
The Trustees with support from NWPA members lead the activities of the association. The Trustees deliver the NWPA objectives, uphold its values and set its strategic direction.
The Trustees are elected at the Annual General Meeting (AGM) and serve on the committee until the next AGM when they can be re-elected or step down.
In addition to the AGM, general meeting (GM) including Trustees, parents’ representatives, the Head of Newstead Wood School and the school representative of the PA are held at least three times a year and the agendas with supporting papers are shared in advance of the meetings.
The Objective of the AGM and the GMs are
-
To provide opportunities for cooperation between parents, staff and pupils
-
To explore ideas and means to raise fund
-
Discuss other school matters
A new constitution of the PA was voted in and adopted in September 2020 and approved by the Charity Commission.
- 2 Balance Sheet and Profit and Loss Statement
As of 31st July 2022 the NWPA has a net asset position of £41,761
Based on actual bank statement, the table below shows in more detail the balance sheet at the end of July 2022 showing the four cash or cash equivalent assets.
Balance sheet e/o FY
| Cash in bank | 41,731 |
|---|---|
| Cash in hand | 30 |
| Total liquidity | 41,761 |
This year the PA has run a net loss of £4,488, with three aspects worth noting:
-
Decrease of donations from parents due to school leavers but without corresponding replacement donations, which are now going to PET.
-
not running the Familiarisation Test, due to the pandemic which would have been a major source of income
-
a much lower level of PA activities due to the pandemic
The table below shows an extract of the main sources of donations and income, charitable donations and income from NWPA activities.
Profit and Loss Statement
----- Start of picture text -----
Income
Subscriptions & donations £10,351
NWPA activities £20,329
Expediture
Donations to the school £35,000
Governance expenses £168
Net loss - £4,488
----- End of picture text -----
3 Income from NWPA activities
One of the main functions of the NWPA is to shape, deliver and/or support social activities for parents and students and the Trustees are pleased about the high level of activity and funds raised.
The year was severely impacted by the pandemic, the activities have been cancelled. For the year the NWPA delivered around 6 (previous year: 17) discrete social and fund-raising activities, quiz night and regular uniform sales.
All of these activities had a fund-raising element and delivered a total net contribution of £20,329 (previous year £2,411).
Notable activities this year were:
Disco Party £969 Uniform sales £1,628 Famtest £17,732
Not considering the pandemic, and considering the fam test was fully scheduled, that income that NWPA activities would have raised would have been susbtantially higher than
last 2 years.
The Trustees would like to collectively thank all the parents, volunteers school staff and occasionally students who contribute to shaping and delivering all the NWPA activities this year.
- 4 Parents subscriptions and other income
The main source of income this year has been the generous donations of parents through regular standing orders, one-off donations, plus other donations such as through EasyFundRaising and amazon Smile.
This year these donations amounted to a total of £10,351.
The number of standing orders from parents has dropped to 13, with no new regular contributors in this financial year. This compares with 26 named regular contributors in the previous year.
Notable donations this year were from Charities Trust (£4,148) .
EasyFundRaising and Amazon Smile continue to be successful; it contributed £275 this year and we thank the School for the continued support in advertising it through the Newsletter.
The Trustees would like to warmly thank the parents for their valuable and generous financial contributions.
- 5 NWPA Donations to the school
In addition to supporting social events, the main mission of the NWPA is to provide donations to the School for certain specific purposes. The Trustees are pleased to say that despite the expected drop in income from parents’ subscriptions, the Trustees decided to sustain donations to the School at the same level as last year.
For the year, in more specific details, the NWPA made the following charitable donations to Newstead wood:
Donations
| School donation | £35,000 |
|---|---|
| Total donations | £35,000 |
The yearly standing donations to the School was invested as follows as evidenced in the letter sent by the School:
School Hall AV Upgrade and Renewal - £35,000
INDEPENDENT EXAMINER'S REPORT TO THE COMMITTEE OF NEWSTEAD WOOD PARENTS' ASSOCIATION
I report on the accounts of the company for the year ended 31 July 2022, which are set out on pages 8 to 12.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
*to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
*to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
- which gives me reasonable cause to believe that in, any material respect, the requirements:
*to keep accounting records in accordance with section 130 of the Charities Act; and
*to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 27 [th] March 2023
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNTS)
| FOR THE | YEAR ENDED 31 JULY 2022 | YEAR ENDED 31 JULY 2022 |
|---|---|---|
| Notes Incoming Resources Grants & Donations 2 Other Income 2 Total Incoming Resources Resources Expended: Charitable Expenses 3 Governance Expenses 4 Total resources expended Net Receipts/(Deficit) Balance B/Fwd Balance C/Fwd |
2022 Funds Total £ 10,351 20,329 30,680 35,000 168 35,168 (4,488) 11,249 6,761 |
2021 Funds Total £ 11,806 2,414 14,220 21,000 63 21,063 (6,843) 18,092 11,249 |
NEWSTEAD WOOD PARENTS' ASSOCIATION
| FOR BALANCE SHEET THE YEAR ENDED31 JULY 2022 |
FOR BALANCE SHEET THE YEAR ENDED31 JULY 2022 |
|
|---|---|---|
| Current Assets Cash at Bank Cash in Hand Current Liabilities Amounts falling due within 1 year: Accruals Net current assets (liabilities) Total Net Assets Reserves and Funds Restricted Funds General Funds Approved by the trustees on Signed on their behalf by: £ Notes 2022 £ 5 41,731 30 41,761 6 35,000 6,761 6,761 6,761 6,761 : 21/03/23 (name & signature) |
£ 2022 £ 41,731 30 |
£ 2021 £ 32,159 90 |
| 41,761 35,000 6,761 |
32,249 21,000 |
|
| 11,249 | ||
| 6,761 | 11,249 | |
| 6,761 | 11,249 11,249 |
|
| 6,761 |
NEWSTEAD WOOD PARENTS' ASSOCIATION
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022
1 Accounting Policies
1.1 Basis of preparation
The accounts have been prepared in accordance under the historical cost convention in accordance with the Statement of Recommended Practice in accordance
with Financial Reporting Standard for Smaller Entities Accounting and Reporting by
Charities (SORP FRS 102) published March 2017
1.2 Restricted Funds
Restricted funds are those funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.
1.3 Unrestricted Funds
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
1.4 Status
The Newstead Wood Parents' Association is registered with the Charity Commission, its registration number is 272614.
NEWSTEAD WOOD PARENTS' ASSOCIATION
NOTES TO THE ACCOUNTS - continue
FOR THE YEAR ENDED 31 JULY 2022
| 2 Incoming Resources Subscriptions & donations Social Committee Functions Bank Interest Bank charges & refunds Other income Total 3 Resources Expended Charitable Expenditure: Minibus expenses Minibus leases School Fund Awards & Hardship Library & Termly donation Departmental Projects (Ad Hoc funding) Total |
Total 2022 £ 10,351 20,329 8 0 0 |
Total 2021 £ 11,806 2,411 3 0 0 14,220 |
|---|---|---|
| 30,680 £ 0 0 0 0 35,000 |
||
| £ 0 12000 5000 4000 0 21,000 |
||
| 35,000 |
NEWSTEAD WOOD PARENTS' ASSOCIATION
NOTES TO THE ACCOUNTS - continue
FOR THE YEAR ENDED 31 JULY 2022
| 4 Governance Costs Social Committee Functions Charitable Donation Bank Charges Other Costs 5 Funds Bank balance Cash at Hand 6 Accruals Donation to the school |
Total 2022 £ - - - 168 |
Total 2021 £ - - - 123 |
|---|---|---|
| 168 | 123 | |
| £ 41,731 30 41,761 £ 35,000 35,000 |
£ 32,159 90 32,249 £ 21,000 21,000 |