BOURNEMOUTH SCHOOL FUND Registered Charity Number.. 291760 Report and Financial Statements For the year ended 31 August 2022
BOURNEMOUTH SCHOOL FUND Contents Page Legal and Administrative Detsils Report of the Trustees Independent Examinerfs Report Statement of Finandal Activlties BalanGe Sheet Notes to the Financial Statements 8-11
BOURNEMOUTH SCHOOL FUND Legal and Administrative Details Legal Status The Bournemouth School Fund was founded on 4 October 1984 as a charitable trust and is registered with the Charity Commission under registration number 291760. The operations of the charity are governed by the original record of minutes dated 4 October 1984 and the minutes of a meeting dated 31 August 1997. Charity Registration Number: 291760 Trustees The current trustees are as follows.. Dr D P Lewis Mrs J A Wheatley Registered Office and Operational Address Bournemouth School East Way Bournemouth Dorset BH8 9PY Hoad of Finance and Administration Mrs K Newton Bankers Lloyds Bank PIC 4547 Old Christchurch Road Bournemouth Dorset BH1 1ED Barclays Bank PIC 61 Old ChristGhurch Road Boumemouth Dorset BH11ER Independent Examiner Ann Mathias (FCA) Moore {Soulh) LLP 33 The Clarendon Centre Dairy Meadow Lane Salisbury Wiltshire SP12TJ Page 1
BOURNEMOUTH SCHOOL FUND Report of the Trustees The trustees present their annual report togeth8r with the financial statements of the charity for the year ended 31 August 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011, the Charities. Statement of Recommended Practice ISORP) {FRS102) 2019 appliGable to Gharities, preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2D19. Objectives and Activities The objectives of the Bournemouth School Fund are set out in the ortginal record of minutes dated 4 October 1984 and the minutes of a meeting dated 31 August 1997. The fund exists for advancing the education of pupils by providing and assisting in the provision of facilities for the education of pupils al the school. The trustees have considered the Charity Commission's general guidance on public benefit when reviewing the objective and activities and in planning future activities. Structure, Governance and Management Bournemouth School Fund is registered with the charity commission and constituted by deed of trust. The charity is administered by Ihe two trustees.. Dr D P Lewis and Mrs J A Wheatley. Achievements and Performance The charity's trustees rAn report that the fund was fully operational throughout the year under review. All of the fund's activities focus on the advancement of education and are undertaken to further the fund's charitable purposes for the public benefit. During the year ended 31 August 2022 donations of £50,000 were made to Bournemouth School. These donations included= Careers support Catering support Homework diaries Books PE coacheslreferees Robotics club sUPPOrt £19,918 £19,000 £2,950 £1,681 £962 £358 Financial Review The results for the year are set out on page 5. Th8 charity's main income is £63,270 from donations. The charity's main expenditure is £50,000 of donations to Boumemouth School to enhance the provision of education at th8 school. Other donations of£6,334 were also made during the year. Net incorne remained fairly constant in Comparison to the prior year. The trustees are satisfied that all the assets are freely available to be used for the charity's activities and are adequate to fulfil the charity's obligations. Page 2
BOURNEMOUTH SCHOOL FUND Report of the Trustees (continued) Reserves Policy The trustees Consider that significant cash resources are not necessary to meet the on-going expenditure of the fund. However, the trustees are actively seeking further projects in line with the fund's objectives which will be financed out of existing funds. Risk Management The trustees have undertaken a review of risks which may have an effect on the fund and its aclivities. The trustees are satisfied that no significant risks exist in this respect. Plans for Future Periods The charity's trustees continue to consider ways to use the charity's resources for advancing the education of pupils. Responsibilities of the Trustees The trustees are responsible for preparing the Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UnÈted Kingdom Generally Accepted Accounting Practice) and applicable laws and regulations. The law applicable to Charities requires the trustees to prepare financial stalements for each finanGial year which give a true and fair view of the state of affairs of the charity and of the incoming reSoUrS and application of resources of the charity for thal period. In preparing these financial statements, the trustees are required to= select suitable accounting polieS and then apply them consistently- observe the methods and principles in the Charities SORP 2019 (FRS 102)-, make judgments and accounting estimates that are reasonable and prudent., state whether appli&qble UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial slatements on the going cOnM basis unless it is inappropriate to presume that the charity will continue in business. 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 financial staternents comply with the Charities Act 2011, Charilies (Accounts and Reports) Regulations 2008, and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees and signed on behalf of the trustees by Dr D P Lewis Chair of Trustees Page 3
BOURNEMOUTH SCHOOL FUND Independent Examiner's Report to the Trustees of Bournemouth School Fund I report on the a¢¢ounts of Boumemouth School Fund (the Charity} for the year ended 31 August 2022, which are set out on pages 5 to 11. Responsibilities and Basis of Report As the charity's tNstees you are responsible for the pparation of the a¢coL(nts in accordance with the requirements of the Charities Act 20111'the ACVI. I report in respect of my examlnation of the charfty's accounts Cathed out under sectlon 145 of the Act and In Carrying out my examination I have followed all the applicable Diredons gfven by the Charfty CommissSon under section 145{5llbl of the A¢1 Independent Examlner's Statement I have cornplet8d my exarnination. l confirm that no material matters have come to my attention in ¢onn8Ction with the examination giving m8 Gause to beli8ve that in any material respect.. 1 } accounting records were not kept in r85pect of the charity as required by section 130 of the Act., or 21 the accounts do not accord with those records.. or 31 the accounts do not comply wrth the applicable requirements conceming the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view which is not a matter considered as part of an independent exarnination. I have no concerns and have come across no other matters in connection wrth the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Ann Mathias IFCA) Moore Isouthl LLP ém6b- 20x2 Chartered Accountants 33 The Clarendon C8rrtr8, Dairy Meadow Lane, Salisbury, Wiltshire, SP12TJ Page 4
BOURNEMOUTH SCHOOL FUND Statement of Financial Activities for the Year ended 31 August 2022 Restricted Funds 2022 Unrestricted Funds 2022 Total Funds Totsl Funds Noles 2022 2021 Income Donations and Legacies School Events and Activities Other Charitable Activities Investmenls other Income 100 63.270 315 63,370 315 62,976 9,120 43 43 58 251 95 24 28 251 Total Income 100 63,937 64,037 72,243 Expenditure Charitable Activities Other Costs 60.475 827 60,475 827 68,126 1,285 Total Expendlture 61,302 Net (Expenditurelllncome 100 2,635 2,735 2,832 Funds as al 1 September 2021 1,300 173,027 174.327 171,495 Funds as at 31 August 2022 1,400 175,662 177,062 174,327 There was no income or expenditure in either of the above years other than those shown in the statement above. The notes on pages 8 to 11 form an integral part of these financial statements. Page 5
BOURNEMOUTH SCHOOL FUND Statement of Financial Activities for the Year ended 31 August 2022 Comparative year infomiation foi the year ended 31 August 2021 Restricted Funds 2021 Unrestricted Funds 2021 Total Funds Total Funds Notes 2021 2020 Income Donations and Legacies School Events and Activities Other Charitable Activities Investments Other Income 62,976 9,120 62,976 9,120 66,752 95 24 28 95 24 28 133 154 Total Income 72.243 72,243 67,428 Exponditure Charitable Activities other Costs 68,126 1,285 68,126 1,285 66,452 1,222 Total Expenditure 67,674 Net {ExpenditurelllnGome 2,832 2,832 (246) Funds as at 1 September 2020 1,300 170,195 171,495 171,741 Funds as at 31 August 2021 1,300 173,027 174,327 171,495 Page 6
BOURNEMOUTH SCHOOL FUND Balance Sheet as at 31 August 2022 Notes 2022 2021 Currenl Assets Debtors and Prepayments Cash at Bank and In Hand 10.736 168,974 10,623 165,660 179 710 176 283 Creditors: Amounts falling due within one year 2.648 1.956 Net Current Assets 177,062 174.327 Represented by Restricted funds Unrestricted funds 1,400 175.662 1.300 173,027 Total Funds 177.062 174.327 Approved by the trustees and signed on their behalf by: Dr D P Lewis Chair of Trustees Date.. The notes on pages 8 to 11 form an integral part of these financial statements Page 7
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2022 1. Statement of Accounting Policies A summary of the principal aGGounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below. The charity is unincorporated and the address of the principle offieE is given on Page 1 of these financial slatements. The nature of the charity's operations and principle activities are explained in the Trustees Report. Basis of Preparation The financlal statements have been prepared in accordan with Accounting and Reporting by Charities.. Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021, Charilies SORP 2019 IFRS 102) issued in October 2019, and the Charities Act 2011. Bournemouth School Fund meets the definition of a public benefit enlity under FRS102. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the charity, and are rounded to the nearest £1. Golng concern The Trustees. have concluded that the charity has adequate resources to continue into the foreseeable future, thus they continue to adopt the going conrn basis of aocounting in preparing the financial statements. Income All incoming reSoUrS are included in the Statement of Financial Activities (SOFA) when the charity in legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable thal the income will be reived. Expenditure Expenditure in respect of charitable activities is calculated to include all the expenses incurred directly in providing school activities. Expenditure in respect of other costs encompasses those expenses which are not directly for the purposes of oharitable activities. Expenditure is recognised as soon as there is a legal or constructive obligation commilling the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Taxation As a registered charity Bournemouth School Fund is exempt from taxation of incorne and gains within section 505 of the Taxes Act 1988 or section 256 of the Charities Gains Act 1992 to the extent that these are applied lo its charitable objeclives. No tax charge has arisen in the year. Page 8
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2022 Irrècoverable VAT Irrecoverable VAT is charged against the expenditure heading for which is was incurred. Debtors Debtors are recorded at the settlement amounts. Prepayments are valued as the amounts prepaid at the balance sheet date. Cash at bank and in hand Cash at bank and in hand indudes cash and short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Creditors Creditors payable within one year are recorded al transaction priGe. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Fund accounting Reslricled funds are to be used for specific purposes as determined by the donors. Expenditure which meets this criteria is charged to the fund as incurr8d. Unrestricted funds are available to use at the discretion of the Trustees in the furtheran of the oty-ectives of the Charity. Judgements and key sources of estimation uncertsinty In the application of the charitable company's accounting policies, the Trustees are required to make judgements, estimates and assumptions al)out the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and assoGiated assumplions ar@ based on historical experience and other faclors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period which the estimate is revised where the revision affects only that period, or in the period of the revision a1 fLrture periods where the revision affects both current and future periods. The Trustees believe there are no such significant items. Page 9
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2022 2. Charitable Activities Restricted 2022 Unrestricted 2022 Total 2022 Total 2021 School Events and Activities Speech Day Costs Sports Activities Donations Prefect BadgeSl8S 600 3,189 352 56,334 600 3.189 352 56,334 10,764 2,898 15 54.248 201 60,475 60,475 68,126 3. Other Costs 2022 2021 Independent Examiner's Fees Bank Charges 810 17 798 487 827 1,285 4. Debtors and Prepayments 2022 2021 Income Tax Recoverable Prepayments 10,736 10,623 10,736 10,623 All debtors are due within one year 5. Creditors: Amounts falling due within one year 2022 2021 Trade Creditors Accruals Deferred Income 229 2,419 1,955 2,648 1,956 6. Trustees None of the trustees re]Ved any remuneration or re-imbursement of expenses during the year under review nor during the previous year. Page 10
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2022 7. Restricled Funds Balance at I September 2021 Balance at 31 August 2022 Income Expenditure Musical Instwment Purchase PE Resources 100 100 1,300 1,300 Total restricted funds 1,300 100 Comparative infomiation Balance at 1 September 2020 Balance at 31 August 2021 Incorne Expenditure PE Resources 1,300 1.300 Total restricted funds 1,300 1.300 8. Analysis of net assets by funds Unrestricted Restricted 2022 Current assets Creditors 178,310 (2,648) 1,400 179,710 (2,648) 177,062 Total net assets 175,662 1,400 Comparative information UnrestriGled Restricted 2021 Current assets Creditors 174,983 11,956) 1,300 176.283 (1.956) 174.327 Total net assets 173,027 1,300 Page11
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