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2020-08-31-accounts

friendsofsalusbury@gmail.com

Friends of Salusbury School Annual Report & Financial Statements

Year Ending 31[st] August 2020

Charity Number: 274754 Company Number

FRIENDS OF SALUSBURY SCHOOL ANNUAL REPORT 2020

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CONTENTS
Contents Page Number
Annual Report of the Trustees 3-4
Statement of Financial Activities 5-7
Balance Sheet & Charity Funds 8
Note to the Financial Statements 9 – 14
Independent Examiner’s Report 15-16
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THE FRIENDS OF SALUSBURY SCHOOL ANNUAL REPORT FOR 2019

The trustees of the Friends of Salusbury School present their annual report and financial statements for the year ended 31st August 2020.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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 2015).

Charitable Outcomes

The aim of the Friends is to advance the education of children in Salusbury Primary School, in particular by:

Organisation

The Friends have six regular meetings a year, including the meeting to approve the Annual Report and Financial Statements. In addition, there is a formal annual meeting to elect the Friends officers. Every parent, guardian and carer with a child at Salusbury Primary School and every member of staff currently employed by the school is a member of the Friends.

Legal and Administrative Information

The full name of the charity is the Friends of Salusbury School. The address of the charity is Salusbury Road, London NW6 6RG. Correspondence should be sent to the Secretary at that address.

The Friends’ trustees during the year were:

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Name Relationship top Salusbury School Position held at FOSS
Michelle Ginty Head teacher President
Christian Corney Parent Interim Chair
Claudia Nicholls Parent Secretary & communications
Noemi de Hevia Mendez Parent Treasurer
Lottie Hart Parent Greenspace rep
Jane Flynn Parent Greenspace rep
Marie O'Neill Parent Class rep co-ordinator
Jo Nixon Parent Class rep co-ordinator
Thomas West Parent Communications
Sophia Osemenam Parent Events Coordinator
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All trustees give of their time freely and no remuneration or expenses were paid in the year.

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Trustees of the Friends are elected annually by members at the Annual General Meeting. The trustees have ultimate responsibility for directing the affairs of the Friends; ensuring that it is solvent, well-run, and delivering the charitable outcomes of the Friends.

The Friends of Salusbury School is a charity registered with the Charity Commission (charity registration number 274754).

The independent examiner of its accounts is Teuta Bulica. The independent examiner is a parent of a child in the School and a member of the Friends, but she is not a trustee and is considered by the Friends to qualify as an “independent examiner”. Her report is on page 15.

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THE FRIENDS OF SALUSBURY SCHOOL ANNUAL REPORT FOR 2020

Review of 2020

The year started very successful year with events, fundraising and donations but events were abruptly stopped in March 2020 when Salusbury Primary School partially closed caused by coronavirus (COVID19) pandemic. The total income reached £36,669 with continued grants and donations made for the benefit of the school. Pupils received the benefit of £45,127 to the school including 60 Chromebooks and 60 Laptops, providing technology for pupils to enhance their educational experience. After direct expenditure and admin costs there is a deficit for the year of -£17,803. The previous year had shown a large profit with pledges to spend this in the year ending August 2020. The combined result is roughly breakeven over the two years.

The funds raised came from the regular enjoyable events such as the Christmas and Ladies evening, the incredible Ceilidh night and the International Evening which celebrates the magnificent cultural diversity of Salusbury Primary School. This is in addition to general donations, planned giving through Gift Aid and the support of local businesses. The Friends are particularly grateful to Queen’s Park Partnership for their continued sponsorship of our Fair and extended sponsorship throughout the year.

Debtors amount in 2019 has been reduced by £689 from £864 to £175 as the amount due was not able to be settle. Due to this, the total balance brought forward from 2019 has been corrected from £61,816 to £61,127.

The Friends continue to attract active members, adding to the strong sense of community within the school and the partnership between staff and parents. This partnership being clearly demonstrated in numbers of parent volunteers who help the School in such a variety of ways by assisting in the class room, helping with events and school trips, through to bringing their specialist skills to support the School in specific tasks.

Financial Review

The details of income and expenditure are set out in the Statement of Receipts and Payments on page 7.

Reserves Policy

The Friends’ policy is not to maintain reserves of funds as its objective is that current giving and other current income should meet current expenditure. Due to the timing of projects some expenses cross over more than one academic year.

Risk Management Policy

The Friends has considered the major risks which it faces. In its opinion, the Friends has established systems which, under normal conditions, should allow those risks to be mitigated to an acceptable level in its day to day operations.

Responsibilities of the Officers - Financial Statements

The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the

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income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:

● select suitable accoun�ng policies and then apply them consistently;

● observe the methods and principles in the Chari�es SORP;

● make judgements and es�mates that are reasonable and prudent;

● state whether applicable UK accoun�ng standards have been followed, subject to any material departures disclosed and explained in the financial statements;

the charity will continue in business.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Friends on 15/06/2021 and signed on its behalf by

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THE FRIENDS OF SALUSBURY SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES FOR 12 MONTHS ENDED 31[st] AUGUST 2020

Note
Incoming Resources
Incoming resources from
donors
2
Income from other activities
for generating funds
2
Income from investments
2
Total Incoming Resources
Resources Used
Grants and donations
3
Expenses directly relating to
activities for generating
funds
2
Management and
administration
3
Surplus/(Deficit) for the
financial year		 Unrestricted
Funds
Restricted
Funds
2020
2020
2020
2019
£
£
£
£
3,467
8,359
11,826
11,120
24,779
0
24,779
30,091
64
0
64
74
28,310
8,359
36,669
41,284
39,268
5,859
45,127
14,276
8,938
338
9,276
9,219
69
69
367
48,275
6,197
54,472
23,862
-19,965
2,162
-17,803
17,422

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BALANCE SHEET as of the 31[st] AUGUST 2020

Note
Current Assets
Fixed assets
Depreciation
Debtors
Cash at bank and in hand
Current Liabilities
Creditors
Net Current Assets		 2020
2019
£
£
569
0
-49
0
0
175
87,589
72,232
88,109
72,232
-44785
-11,280
43,324
61,127

Note that Debtors amount in 2019 has been reduced by £689 from £864 to £175 as the amount due was not able to be settle. Due to this, the total balance brought forward from 2019 has been corrected from £61,816 to £61,127.

CHARITY FUNDS

Unrestricted Restricted
Funds Funds 2020 2019
Note 2020 20 £ £
Balances brought forward: 44,164 16,963
61,127		 43,705
Surplus for the year -19,965 2,162
-17,803		 17,422
Balances carried forward 24,199

19,125

43,324		 61,127

Note that Debtors amount in 2019 has been reduced by £689 from £864 to £175 as the amount due was not able to be settle. Due to this, the total balance brought forward from 2019 has been corrected from £61,816 to £61,127.

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THE FRIENDS OF SALUSBURY SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR 12 MONTHS ENDED 31[ST] AUGUST 2020

1. Accounting Policies

The financial statements have been prepared under the historical cost convention and in accordance with applicable Accounting Standards and the Charities Statement of Recommended Practice published in 2005.

Funds

The Unrestricted Funds of the Friends are not subject to any restrictions regarding their use and are available for application to the general purposes of the Friends.

The Restricted Funds are available for application towards the outdoor education project, “Greenspace”.

Completeness of Transactions

The accounts include all transactions, assets and liabilities for which the Friends is responsible in law.

Incoming Resources

Voluntary income and capital sources

Donations are recognised when received by (or on behalf of) the Friends.

Planned giving receivable under gift aid is recognised only when received and the related Income Tax recoverable on gift aid donations is recognised when the tax is recovered.

Grants and legacies to the Friends are accounted for as soon as they are received by the Friends.

Funds raised by fairs and similar events are accounted for gross when received. Sales of items are accounted for gross when received.

Income from investments

Bank interest is accounted for when received. Tax recoverable on such income is recognised when received.

Resources Used

Grants and donations are accounted for when paid.

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THE FRIENDS OF SALUSBURY SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR 12 MONTHS ENDED 31[ST] AUGUST 2020

2. Incoming resources and

2.Incoming resources and
expenses
(a)Incoming resources from
donors: unrestricted
Donations and planned giving
Income tax recovered
(b)Incoming resources from
donors: restricted
Grants
Easter Egg Hunt
Greenspace play
Other donations - 10K Run
Total incoming resources from donors:
Income and expenses from other
activities for generating funds:
Summer Fair
Quiz Night
Christmas Fair
International Evening
Cake Sales
Disco
Christmas cards
Bingo
Ladies evening		 10
Gross
income
Direct
expenses
2020
£
£
£
3,467
-
3,467
-
-
3,467
-
3,467
2,500
-
2,500
-
-
-
-
-
-
5,859
1,041
4,819
8,359
1,041
7,319
11,826
1,041
10,786
-
-
-
-
-
-
15,763
3,982
11,781
2,005
210
1,795
273
-
273
-
180
-
180
3,738
2,455
1,283
-
-
-
769
-
769		 2019
£
5,515
**- **
5,515
-
447
254
207
**- **
14
5,529
6,516
2,053
6,074
1,257
1,528
-
1,835
374
731
Ceilidh
(c)Income from investments:
Bank interest
Total income		 2,232 1,070 1,162
16,881
64
27,731		 867
24,779 7,897 21,236
64
36,669		 0
8,938		 74
26,840

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THE FRIENDS OF SALUSBURY SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR 12 MONTHS ENDED 31[st] AUGUST 2020

3. Resources Used
Note
(a) Grants and donations from unrestricted
funds
Green Space - not restricted
Classroom equip & materials
Arts week
Sundry Items
Playground
Sports and sports equipment
Author/Special visitors
Sports
Year 6 disco/party
Class workshops/trips
Plays and musicals
School trip subsidies
Text service
Arts, music, drama and dance
(b) Grants and donations from restricted funds
Greenspace
Classroom equipment/Computers		 2020
£
-
30,932
2,600
-
-
-
600
-
300
2,600
400
536
1,000
300
39,268
-
5,859
5,859		 2019
£
534
-
2,600
-
-
-
600
300
2,600
400
500
1,000
300
8,834
5,442
-
5,442

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Total grants and donations
(c) Activities for generating funds:
Direct expenses
(d) Management and
administration:
Bank charges
Broken equipment reimbursement
Office expenses		 45,127
8,938
-
-
69
69.08
54,134		 14,276
9,003
-
-
583
582.95
23,862

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THE FRIENDS OF SALUSBURY SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR 12 MONTHS ENDED 31[st] AUGUST 2020

2. Expenses incurred by Officers

During the year no officers were reimbursed for out of pocket expenses incurred for the work of the Friends although these officers were reimbursed costs incurred in organising events or buying items for Greenspace/Groundworks projects.

Noemi de Hevia Mendez £ 1,307.99
Christian Corney £ 1,185.08
Lottie Hart £ 442.15
Marie O’Neill £ 25.99
Jane Flynn £ 24.48
£ 2,985.69

There were no other transactions between the Friends and its members.

3. Financial Commitments

As a condition of the funding arrangements between the School and the London Borough of Brent, the Friends have made a commitment to the School to meet the costs of the development and running of the outdoor education area, Greenspace. The Friends are confident that obligations under this arrangement can be met from future fundraising activities.

The Friends have made binding pledges of £16,963 for Greenspace which remained outstanding at 31[st] August 2020.

The rest of the Surplus of the year will be spent on IT equipment.

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Independent Examiners’ Report to the Trustees of the Friends of Salusbury School

I report on the accounts of the Trust for the 12 months ended 31[st] August 2020, which are set out on pages 5 to 14.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).

The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to:

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 material matters have come to my attention which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or

the accounts did not accord with the accounting records; or

the accounts did 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

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which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

TEUTA BULICA BA

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