friendsofsalusbury@gmail.com
# **Friends of Salusbury School Annual Report & Financial Statements**
**Year Ending 31st August 2022**
Charity Number: 274754
## CONTENTS
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Contents Page Number
Contents 2
Annual Report of the Trustees 3-4
Statement of Financial Activities 5-6
Balance Sheet & Charity Funds 6-7
Note to the Financial Statements 7 – 11
Independent Examiner’s Report 12
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## **THE FRIENDS OF SALUSBURY SCHOOL ANNUAL REPORT FOR 2021**
The trustees of the Friends of Salusbury School present their annual report and financial statements for the year ended 31st August 2022.
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:
- developing effective relationships between the staff, parents and others associated with the School
- engaging in activities or providing facilities and equipment which support the School and advance the education of the pupils.
## **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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Relationship to
Name Position held in FOSS
Salusbury School
Michelle Ginty Head teacher President
Jo Nixon Parent Co-Chair
Thomas West Parent Co-Chair
Kirsty Witters Parent Greenspace Coordinator
Kelly Looney Parent Co-Secretary
Lottie Tarpey Parent Co-Secretary - communications
Co-Class Representative
Megan Clark Parent
Coordinator
Co-Class Representative
Elisabeth West Parent
Coordinator
Tanya Clark Parent Event Management
Andy Cobb Parent Event Management
Albert Puig Xena Parent Treasurer
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All trustees give of their time freely and no remuneration or expenses were paid in the year.
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 STATEMENT OF FINANCIAL ACTIVITIES FOR 12 MONTHS ENDED 31[st] AUGUST 2022**
## **Review of 2022**
A very successful year that saw events and fundraising and donations bringing in an income of £48,395. Grants and donations made for the benefit of the school and its pupils amounted to £6,728. After direct expenditure and admin costs there is a surplus for the year of £30,665. The reason for this significant surplus achieved this year is that the Friends have been raising money to fund the overhaul of the School’s playground (Project Playground), but the works haven’t yet begun.
Most funds were raised through the organisations of enjoyable events such as Winter Fair, Quiz Night and International Evening, as well as the Triathlon. This is in addition to general donations, planned giving through Gift Aid and the support of local businesses.
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 classroom, 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 below Statement of Receipts and Payments.
||Unrestrict
ed Funds
Restricte
d Funds|
|---|---|
||2022
2022
2022
2021|
|_Not_
_e_|£
£
£
£|
|**Incoming Resources**||
|Incoming resources from
donors
_2_|2,456
11,765
14,22
1
24,58
7|
|Income from other
activities for generating
funds
_2_|4,720
29,427
34,14
7
11,31
6|
|Income from
investments
_2_|27
0
27
4|
|**Total Incoming**
**Resources**|**7,203**
**41,192**
**48,3**
**95**
**35,90**
**7**|
|**Resources Used**||
|Grants and donations
_3_|2,749
3,979
6,728
22,08
7|
|Expenses directly
relating to activities for
generating funds
_2_|2,669
7,447
10,11
5
4,762|
|Management and
administration
_3_|886
0
886
2,347|
||**6,304**
**11,426**
**17,7**
**29**
**29,19**
**6**|
|**Surplus/(Defcit) for**
**the fnancial year**|**899**
**29,766**
**30,6**
**65**
**6,711**|
5
## **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 Ofcers - 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 income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to:
● select suitable accounting policies and then apply them consistently;
● observe the methods and principles in the Charities SORP;
● make judgements and estimates that are reasonable and prudent;
● state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
● prepare the financial statements on the going concern basis unless it is inappropriate to presume that 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 DATE and signed on its behalf by Albert Puig Xena.
## **THE FRIENDS OF SALUSBURY SCHOOL BALANCE SHEET as of the 31[st] AUGUST 2022**
|**AUGUST 2022**||
|---|---|
||**2022**
**2021**|
|_Not_
_e_|**£**
**£**|
|**Current Assets**||
|Fixed assets|929
569|
|Depreciation|-186
-109|
|Debtors|200
0|
|Cash at bank and in hand|79,756
49,574|
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Unrestricted Funds 2014
||80,699
50,034|
|---|---|
|**Current Liabilities**||
|Creditors|0
0|
|||
|**Net Current Assets**|**80,699**
**50,034**|
## **THE FRIENDS OF SALUSBURY SCHOOL CHARITY FUNDS as of the 31[st] AUGUST 2022**
|||Unrestricte|Restricted|||
|---|---|---|---|---|---|
|||d Funds|Funds|2022|2021|
||Note|||£|£|
|Balances brought forward:||**26,797**|**23,237**|**50,034**|**43,324**|
|Surplus for the year||**899**|**29,766**|**30,665**|**6,711**|
|**Balances carried**||||||
|**forward**||**27,696**|**53,003**|**80,699**|**50,034**|
## **THE FRIENDS OF SALUSBURY SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR 12 MONTHS ENDED 31[ST] AUGUST 2022**
## **1. Accounting Policies**
## 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.
This year, the Restricted Funds were available for application towards the outdoor education project “Greenspace”, immediate purchase of laptops for pupils and improvement of the School Playground.
## Completeness of Transactions
The accounts include all transactions, assets and liabilities for which the Friends is responsible in law.
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## 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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|**2. Incoming resources and**
**expenses**|**2. Incoming resources and**
**expenses**|**2. Incoming resources and**
**expenses**|**2. Incoming resources and**
**expenses**||
|---|---|---|---|---|
|**Gross**
**income**
**Direct**
**expens**
**es**
**2022**||||**2021**|
|£
£
£||||£|
|**(a) Incoming resources from donors:**
**unrestricted**|||||
|Donations and planned
giving|2,4
56
-
**2,**
**456**|||**2,**
**495**|
|Income tax recovered|**-**
-
**-**|||**-**|
||**2,**
**456**
**-**
**2,**
**456**|||**2,**
**495**|
|**(b) Incoming resources from donors:**
**restricted**|||||
|Grants|-
-
**-**|||**-**|
|Laptops|-
-
**-**|||**15,**
**668**|
|Playground|11,765
0
**11,**
**765**|||**5,**
**924**|
||**11,**
**765**
**0**
**11,**
**765**|||**21,**
**592**|
||||||
|Total incoming resources
from donors:|**14,221**
**0**
**14,221**|||**24,087**|
||||||
||||||
||||||
|**(c) Income and expenses from other activities for generating**
**funds: unrestricted**|||||
|Summer Fair|-|-|**-**|**-**
**597**|
|Christmas Fair|-|-|**-**|**5,**
**679**|
|Christmas cards|4,7
20|2,6
69|**2,**
**051**|**1,**
**816**|
|Easter Egg Hunt|-|-|-|**304**|
|Halloween|-|-|-|**-**
**150**|
||**4,720**|**2,669**|**2,051**|**7,053**|
||||||
|**(d) Income and expenses from other activities for generating**
**funds: restricted**|||||
|Summer Fair
9,170
3,5
98
**5,572**||||**-**|
|Christmas Fair
8,6
93
2,0
11
**6,6**
**82**||||**-**|
|International Evening
2,926
1,419
**1,**
**507**||||**-**|
|Cake Sales
854
-
**854**||||**-**|
|Christmas cards
4,7
20
2,6
69
**2,**
**051**||||**-**|
9
|Silent auction|5,7
28|387|**5,**
**341**|**-**|
|---|---|---|---|---|
||**29,427**|**7,447**|**21,980**|**0**|
||||||
|**(e) Income from**
**investments:**|**27**|0|**27**|**4**|
|Bank interest|||||
|**Total income**|**48,395**|**10,115**|**38,279**|**31,145**|
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|**3. Resources Used**|||
|---|---|---|
||2022|2021|
|_Note_|£|£|
|(a) Grants and donations from
unrestricted funds|||
|Classroom equip & materials|572|3,1
11|
|Playground|-|3
00|
|Sports and sports equipment|-|53|
|Sports|-|8
10|
|Year 6 disco/party|-|3
33|
|Class workshops/trips|1,778|-|
|Year 6 leaving present|399|-|
||**2,749**|**4,606**|
|(b) Grants and donations from restricted
funds|||
|Greenspace|3,979|1,
812|
|Classroom equipment/Computers|-|15,6
68|
||**3,979**|**17,48**
**0**|
|**Total grants and donations**|6,656|22,087|
|(c) Activities for generating
funds:|||
|Direct expenses
2|**10,115**|**4,262**|
|(d) Management and
administration:|||
|Bank charges|5
1|-|
|Ofce expenses|835|2,
347|
||**886**|**2347.**
**09**|
||**17,729**|**28,69**
**6**|
## **4. 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.
|Jo Nixon|£ 327.61|
|---|---|
|Albert Puig Xena|£ 513.50|
|Kirsty Witters|£ 790.47|
|Andy Cobb|£ 1,045.00|
11
There were no other transactions between the Friends and its members.
## **5. 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 continue to be met with the proceeds from fundraising activities and Surprlus from previous years.
The Friends have also committed to using proceeds from most fundraising activities this year to fund Project Playground.
The rest of the Surplus will be used to support the School and its community as mandated by the Friends constitution.
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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 2022, which are set out on pages 5 to 11.
## **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:
- examine the accounts under section 145 of the Charities Act 2011,
- to follow the applicable Directions given by the Charity Commission (under section 145(5)(b) of the 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 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 which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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