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2023-09-30-accounts

REGISTERED CHARITY NUMBER 273132

MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

REPORT OF THE BOARD OF TRUSTEES AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023
Legal and administrative information 1
Trustees' Annual Report 2 - 3
Independent Examiner's Report to the Trustees 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts
 7 - 11

MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Montpelier Primary School Parents Teachers and Friends Association is a registered charity which operates on behalf of all parents and guardians of pupils enrolled at the community school known as Montpelier Primary School, together with all members of staff, and other supporters (e.g. friends and relatives such as siblings no longer at the school).

Governing Document:

Rules of 24 September 1975 became Constitution of 21 October 1993, amended 16 March 1994 and 16 October 2007 was now further amended on 20 September 2018.

Charity Registration No.:

273132

Administration Address: c/o Montpelier Primary School Helena Road, Ealing LONDON W5 2RA

Trustees (and Committee Members):

Paola Kennedy Co-Chair Tara Benedetti Co-Chair Aasif Ebrahim Treasurer Bankers: Lloyds TSB Bank 44/45 Ealing Road London W5 5JU

Independent Examiner: Ola Olukotun FCCA

Crescent Heights Chartered Accountants 77 Thornbury Gardens London

WD6 1RD

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

TRUSTEES' ANNUAL REPORT

YEAR ENDED 30 SEPTEMBER 2023

The Trustees of Montpelier Primary School Parents Teachers and Friends Association present their report together with the Independently Examined financial statements of the Charity for the year ended 30 September 2023.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity's activities are governed by a constitution document approved by the Annual General Meeting of 21 October 1993 as modified by the Special General Meeting of 16 March 1994 and at the Annual General Meeting of 16 October 2007, and further amended on 20 September 2018.

Recruitment and appointment of new trustees

All parents and guardians of pupils of the school are automatically members of the PTA. A welcome evening is held each autumn for new intake parents; each class has an elected Class Representative that communicates PTA issues to the parents in that class. PTA membership is also promoted at all fundraising events, and the school helps to promote the PTA via newsletters and the school website which includes a PTA section. Elected trustees (and committee) posts are filled annually at the Annual General Meeting and new parents/ teachers are actively encouraged to stand for election.

Induction and training of new trustees

New trustees are inducted into the workings of the charity and its relationship to the school.

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.

The trustees continue to review the principal areas of the charity's operations to identify risks that could affect the day-to-day operations of the charity. In the opinion of the trustees the charity has established resources and review systems which, under normal conditions, should allow these risks to be mitigated to an acceptable level, in its day-to-day operations.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objective of the Charity is to advance the education of the pupils of the school. In furtherance of this objective, the charity may:

The principal activity for achieving the objective is to hold fundraising events within the premises of the school.

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

TRUSTEES' ANNUAL REPORT [Cont’d]

YEAR ENDED 30 SEPTEMBER 2023

Statement on Public Benefit

The trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission, including public benefit guidance.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

In 2023, the charity generated £63,509 (2022: £44,785) from fund raising activities, including the annual summer fete, sale of School calendars, Ealing Half Marathon, Food fair, donations and other activities.

Aside from the purely financial benefits, the various activities of the charity helped to build closer relationships between the parents, teachers and children.

The money raised was used to enhance the school environment and the educational experience of the children in several ways, including supporting school events.

FINANCIAL REVIEW

Financial Results

The results for the year are set out on page 5. The Association has a surplus of £25,428 for the year (2022: £30,006) which, after adding the balance brought forward from the previous year of £69,533 shows a balance carried forward of £96,845.

The main source of income for the charity is from informal fundraising activities.

Reserves policy

The trustees target a minimum level of free reserves of about £7,000 which is approximately one year's net fund raising income. The charity's accumulated reserves are going to be used on a few school projects.

Trustees' Responsibilities

Charity regulations require the Trustees to prepare accounts for each financial year which show the incoming resources and application of the resources of the Charity in the year.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

On behalf of the Board of Trustees

Paola Kennedy (Chair) Date: 30/07/2024

Aasif Ebrahim (Treasurer)

Date: 30/07/2024

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

I report on the Financial Statements for the year ended 30 September 2023 set out on pages 0 - 0.

This report is made solely to the Trustees of Montpelier Primary School PTFA, as a body, in accordance with regulations made under section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees matters I am required to state to them in an Independent Examiner’s report.

Respective responsibilities of Trustees and Independent Examiner

As Charity Trustees, for the purposes of charity law, are responsible for the preparation of the financial statements, the Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed.

Independent examiner's statement

Having satisfied myself that the Charity is not subject to an audit and is eligible for independent examination, it is my responsibility to:

a) examine the accounts under section 145 of the 2011 Act

b) follow the procedures laid down in the general Directions given by the Charity Commission under section section 145(5)(b) of the 2011 Act; and

b) state whether matters have come to my attention.

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 to enable a proper understanding of the accounts to be reached.

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 you as Trustees concerning any such matters.

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements

  2. a) to keep accounting records in accordance with Section 130 of the Charities Act, and,

  3. b) to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached.

Signed:

Dated

Ola Olukotun, FCCA 77 Thornbury Gardens Borehamwood Hertfordshire WD6 1RD

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30TH SEPTEMBER 2023

Note
INCOMING RESOURCES
Donations and members contribution
2
Investment Income
Other incoming resources
3
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Charitable Activites
Charitable Activities
4
Governance costs
5
TOTAL RESOURCES EXPENDED
NET INCOMING RESOURCES
Total funds at 1 October 2022
TOTAL FUNDS AT 30 SEPTEMBER 2023		 2023
1079
0
62430
63509
37,281
800
38081
25428
71,417
96,845		 2022
1628
0
43157
44785
13819
960
14779
30006
39,527
69,533

The notes on page 7 to 11 form part of these financial statements.

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

BALANCE SHEET

AS AT 30TH SEPTEMBER 2023

2023 2022
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 0 0
CURRENT ASSETS
Debtors (65) 987
Cash at bank and in hand 97,710 70,493
CURRENT LIABILITIES
Creditors: amounts falling due within one year (1,760) (960)
NET CURRENT ASSETS 95,885 70,520
TOTAL ASSETS LESS CURRENT LIABILITIES 95,885 70,520
NET ASSETS 95,885 70,520
CHARITY FUNDS
Unrestricted Funds 95,885 70,520
TOTAL FUNDS 95,885 70,520

The financial statements were approved by the trustees on 30[th] of July 2024 and signed on their behalf, by:

Paola Kennedy (Chair)

Aasif Ebrahim (Treasurer)

Date: 30 / 07 / 2024

Date: 30 / 07 / 2024

MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. ACCOUNTING POLICIES

1.1 Basis of preparation

The financial statements have been prepared under the historical cost convention with the items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial

statements.

These financial statements have been prepared in accordance with:

The financial statements are presented in pounds sterling, being the functional currency of the Charity.

1.2 Exemptions for qualifying entities under FRS 102

The Charity has taken advantage of the following disclosure exemptions:

1.3 Going concern

The Trustees continue to monitor the risks posed to the Charity and have considered possible events or conditions that might cash significant doubt on the ability of the Charity to continue as a going concern.

The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. After making enquiries, the Trustees have concluded that there is a reasonable expectation that the Charity will have adequate

resources to continue in operational existence for at least 12 months 12 months from the date of signing these financial statements.

1.4 Recognition of income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity’s objectives, as well as any associated costs

Where applicable all expenditure is inclusive of irrecoverable VAT

1.6 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010, and therefore it meets the definition of a charitable organisation for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes

1.7 Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Charity does not currently have any significant accounting estimates or areas of judgements.

1.8 Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.

1.9 Grants and donations

Donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

Donations are credited to the statement of financial activities as the related expenditure is incurred.

1.10 Liabilities

Liabilities are recognised when there is an obligation at the Balance Sheet date as a

result of past event, it is probable that a transfer of economic benefit will be required in Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

1.11 Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

1.12 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on the notice of not more than 24 hours.

1.13 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

1.14 Related party transactions

No Trustee receives salary or compensation from the Charity. The Charity reimbursed Trustees for charitable expenses incurred and borne on behalf of the Charity by Trustees.

1.15 Funds accounting

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.

Designated funds comprise unrestricted funds that have been set aside by the trustees for purposes. The aim and use of each designated fund is set out in the notes to the financial statements

1.16 Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

1.17 Resources expended

All expenditure is accounted for on an accruals basis and has been included under expenses categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to activities they have been allocated on a basis consistent with the use of the resources.

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

2. DONATIONS AND MEMBERS CONTRIBUTION

Bubble Tea Income
Cake Sale Income
Christmas Disco
Ealing Half Marathon Income
Food Fair
Ice Cream Sales Income
Lego Land Ticket Sales
Non-Uniform Day
Yr 6 Leavers Event
Pizza Friday
Valentine's Day Balloon Race
Other Income
Quiz Night Income
School Calendar Income
Second Hand Uniform Sales
Summer Fete Income
Donations & Legacies
Donations and member collections
3.
OTHER INCOMING RESOURCES
Total		 2023
£
1,062
1,638
10,127
1,439
2,245
442
8,111
1,330
0
0
0
0
2,953
1,100
593
31,390
2022
£
0
0
585
2,755
1,866
0
1,358
0
200
1,156
327
0
0
3,468
725
30,717
1,079
1,628
62,430
43,157
2023
£
1,079
2022
£
1,628

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MONTPELIER PRIMARY SCHOOL PARENTS TEACHERS AND FRIENDS ASSOCIATION

4. CHARITABLE ACTIVITIES

Bubble Tea Expense
Cake Sales Expense
Christmas Disco Expenses
Food Fair Expenses
General
Year 6 leavers Event
Cream Sales Expenses
Lego Land Expense
Pizza Friday
Quiz Night Expenses
Summer Fete Expenses
QuickBooks
Donation: Shakespear project
Donation: 12 Globes
Dues and Subscriptions
Office/General Administrative Expenses
School Pledge Contribution
Total
OVERNANCE COSTS
Independent examiner's fee
Total
£		 2023
£
221
360
4,122
269
67
0
32
5,226
0
1,485
6,893
0
0
0
338
740
17527
2022
£
0
0
604
369
0
143
0
0
1,575
0
8,518
515
1950
145
0
0
0
37,281
13,819
Funds
2023
£
800
Funds
2022
£
960
800
960

5. GOVERNANCE COSTS

11