BOURNEMOUTH SCHOOL FUND Registered Charity Number.. 291760 Report and Financial Statements For the year ended 31 August 2024
BOURNEMOUTH SCHOOL FUND Contents Page Legal and Administrative Details Report of th8 Tru5tses Irsdependenl Examiner's Report Statement of Financial Activities Balall Sheet Notes to Ihe Financial Statements 8-11
BOURNEMOUTH SCHOOL FUND Legal and Administrative Details Legal Status The Boumemouth School Fund was found8d on 4 October 1984 as a charitable trust and is registered wth the Charity Commission under registration number 291760. The operations of the charity are goveined 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 Operalional Address Boumemouth School East Way Bournemouth Doiset BH8 gPY Head of Finance and Administration Mrs K Newton Bankers Lloyds Bank PIC 45-47 Old Christchurch Road Boumemouth Dorset BH1 1ED Independent Examiner Esme Shakeshaft (FCCA} Moore (South} LLP 33 The Clarendon Centre Dairy Meadow Lane Salisbury Willshire SP12TJ Page 1
BOURNEMOUTH SCHOOL FUND Report of the Trustees The trustees present their annual report together with the independently examined financial statements of the charity for the year ended 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 110 the accounts and comply with the charity's governing document. the Charities Act 2011, the Charities.. Statement of Recommended Practice (SORP) (FRS102} 2019 applicable to charities, preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019. Objectives and Activities The objectives of the Bournemouth School Fund are set OLrt in the original 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 at the school. The truslees have considered Ihe Charity Commission's general guidan on public benefrt when reviewing the obj'ective and activities and in planning future activities. Structure. Govemance and Management Bournemouth School Fund 15 regislered with the Gharity wmmission and constituted by deed of trust. The charity is administered by the two trustees.. Dr D P Lewis and Mrs J A Wheatley. Strategic Report Achievements and Performance The charity's trustees can report that the fund wa5 fully operation81 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 2024 donations of £50.000 were made to Bournemouth School. These donations included.. Careers support Library resourGes PE coacheslreferees Lecture theatre Garpeting £19,533 £7,185 £5,438 £15,349 Financial Review The results for the year are set out on page 5. The Gharity's main income £49,846 from donations. The charity's main expenditure is £50,000 of donations to Bournemouth School to enhance the provision of education at the school. Other donations of £5,879 were also made dLtring the year. There was a net expenditure for the year of £{12,740) due to a decrease in donations being received and the use of brought forward reserves to make donations to BoumemoLrth School to fund other educational expenditure. The trustees ar8 satisfied that all the assets are freely av8ilable 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 ttustees Gonsider that significant cash resources are not neSSary to meet the on-going expendtture of the fund. However, the trustees are actively seeking further projects in line with Ihe fund's objeckn-ves 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 activities. The trustees are satisfied that no significant risks exist in this respect. Plans for Future Periods The Gharity's trustees continue to consider ways to use the charity's reSoUrS for advancing the education of pupils. Responslbllltles of the Trustees The trustee5 are responsible for preparing the Trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice} and applicable laws and regulations. The law applicable to Charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing Ihese 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 2019 IFRS 102)., make judgments and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been tollowed, subject to any material departures disclosed and explained in the financial statements- and 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 aGGounting records which disclose with reasonable accuracy at any time the financial posilion of the Gharily and to enable them to ensure that the financial statements comply with the Charities Act 2011, Charities (Accounts and Reports) Regulations 2008, and the provisions of Ihe constitution. 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. Approved by the trustees and signed on behalf of th8 trustees by Dr D P Lewis Chair ol Trustees Date: 10 December 2024 Page 3
BOURNEMOUTH SCHOOL FUND Independent Examiner's Report to the Trustees of Bournemouth School Fund I report on the accounts of Boumemouth School Fund (the Charity) forthe year ended 31 August 2024, which are set out on pages S to 11. Responsibilities and Basis of Report As the charity's trustees you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Ad 2011 ('the Act,). I report in respect of my examination ofthe charity's accounts carri&d out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(bl of the Act. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have corne to my attention in connection with the examination giving me cause to believe that in any material respect.. 11 accounting records were not kept in respect of the charity as required by SelOn 130 of the Act,. or 21 the accounts do not accord wilh those records-, or 31 the acGounts do not comply with the applicable requirements Conrning the form and ontent of the accounts sel out in the Charities (Accounts and Reports) Regulations 2W8 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 concems and have come across ne 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 account5 to be reached. Esme Shakeshaft (FCCA) Moore (South) LLP Date Chartered Accountants 33 The Clarendon Centre, Dairy Meadow Lane, Salisbury, Wi11shire, SP12TJ Page 4
BOURNEMOUTH SCHOOL FUND Statement of Financial Activities (including Income and Expenditure Account) for the Year ended 31 August 2024 Restricted Funds 2024 Unrestricted Funds 2024 Total Funds Total Funds Notes 2024 2023 Income Donations and Legacies School Events and Activities Other Charitable Activities Investments Other Income 50 49,796 40 49,846 40 56.174 434 1.479 16 1,479 16 1,295 19 23 Total Income 50 51,340 51.390 57,945 Expenditure Charitable Activities Other Costs 62,349 1,781 62,349 1.781 100.895 895 Total Expenditure 64,130 101.790 Net (Expenditure}Ilncome 50 112,790) (12,740) (43,8451 Funds as at 1 September 2023 215 133,002 133,217 177,062 Funds as at 31 August 2024 265 120,212 120.477 133,217 There was no income or expenditure in either of the above years other than those shown in the statement above. All income and expenditure derive from continuing adivities. The notes on pages B to 11 form an integral part of these financial statements. Page 5
BOURNEMOUTH SCHOOL FUND Statement of Financial Activities (including Income and Expenditure Account) for the Year ended 31 August 2024 Comparative year information for the year ended 31 August 2023 Restrictod Funds 2023 Unrestricted Funds 2023 Total Funds Total Funds Notes 2023 2022 Income Donations and Legacies School Events and Activities Other Charitable Activities Investments other Income 1,115 55,059 434 56,174 434 63,370 315 1,295 19 23 1,295 19 23 43 58 251 Total Income 1.115 56,830 57,945 Expenditure Charitable Activities ()ther Costs 2,300 98,595 895 100,895 895 60,475 827 Total Expenditure 2,300 101,790 61,302 Net (Expenditurelllncome (1,185) (42.660) (43,845) 2,735 Funds as at 1 September 2022 1,400 175,862 177,062 174,327 Funds as at 31 August 2023 215 133,002 133.217 177,062 Page 6
BOURNEMOUTH SCHOOL FUND Balance Sheet as at 31 August 2024 Notes 2024 2023 Current Assets Debtors and Prepayments Cash at Bank and In Hand 18,658 157,577 8,679 127,196 176,235 135,875 Creditors: Amounts falling due within one year 55,758 2,658 Net Current Assets 55,758 133,217 Represented by Restricted funds Unrestricted funds 265 120,212 215 133,002 Total Funds 120,477 133,217 Approved by the trustees and signed on their behalf by.. Dr D P Lewts Chair of Trustees Date.. 10 December 2024 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 2024 1. Ststement of Accounting Policies A summary of the principal accounting policies adopted (which have been applied consistently, expt where noted), judgements and key sources of estimation uncertainty, is set out below. The charity is unincorporated and the address of Ihe principle office is given on Page 1 of these financial statements. The nature of the charity's operations and principle activities are explained in the Trustees Report. Basis of Preparation The finanGial statements have been prepared in accordance with AcGounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), Charities SORP 2019 (FRS 102) issued in Octob8r 2019. and the Charities Act 2011. Bournemouth School Fund meets the definition of a public benefit entity under FRS102. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterfing. which is the functional currency of the charity, and are rounded to the nearest £1. Going concern The Trustees, have concluded that the chartty has adequate resources to continue into the foreseeable future, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Incomè All incoming resources 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 that the income will be received. Expendilure Expenditure in respect of charitable activities is calculated to include als 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 charitable activities. Expenditure is recognised as soon as there is a legal or constructive obligation committing 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 income and gains within schedule 3 oflhe Charities Acl 2022 and paragraph 1 Schedule 6 of the Finan Act 2010 to the extent that these are applied to its charitable obj8Ctives. No tax harge has arisen in the year. Page 8
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2024 Irrecov8rable VAT Irre¢overable VAT is charged against the expendituie 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 includes cash and short term highly liquid investments Ihat 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 at transaction price. Financial instruments The charity only has financial assets and financtal liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction valu8 and subsequently measured at their settlemenl value. Fund accounting Restricted funds are to be used for specific purposes as determined by the donors. Expenditure which meels this criteria is charged lo the fund as incurred. Unrestrtcted funds are available lo use at the discretion of the Trustees in the furtheran of the objectives of the Charity. Judgements and key sources of estimation uncertainty In the application of the charitable Gompany's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent frorn other SoUrs. The estimates and associated assumplions are based on historical experience and other factors that are considered to be relevant. Aclual 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 and future periods where the revision aftects both current and future periods. The Trustees believ8 th8re aré no such significant items. Page 9
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2024 2. Charitable Activities Restricted 2024 Unrestricted 2024 Total 2024 Total 2023 School Events and Activities SpeeGh Day Costs Sports Activities Donations Sixth Forrn Yearbook PrefeGt BadgesleS 20 4,293 678 55,879 1,479 20 4,293 678 55,879 1,479 464 4,523 607 93,584 1,717 62,349 100,895 3. Other Costs 2024 2023 Independent Examiner's Fees Bank Charges 876 905 834 61 1,781 895 Debtors and Prepayments 2024 2023 Income Tax Recoverable Prepayments 8,279 10,379 8,679 18,658 8,679 All debtors are due within one year 5. Creditors: Amounts falling due within onè y8ar 2024 2023 Trade Creditors Accruals Deferred Income 77 55,681 2,658 55,758 2,658 6. Trustees None of the trustees rettived any remuneration or re-imbursement of expenses during the year under review nor during the previous year. Page IO
BOURNEMOUTH SCHOOL FUND Notes to the Financial Statements for the Year Ended 31 August 2024 7. Restricted Funds Balan at 1 September 2023 Balance at 31 August 2024 Income Expenditure Musical Instrument Purchase 215 50 265 Total restricled funds 215 50 265 Compaiative information Balan at 1 September 2022 Balan at 31 August 2023 Income Expenditure MusiGal Instrument Purchase PE Resources 100 115 215 1.300 1,CK)O {2,300} 2,300 Total restricted funds 1.400 1,115 215 8. Analysis of net assets by funds Unrestricted Restricted 2024 Current assets Credilors 175,970 (55.758) 265 176,235 (55,7581 120.477 Total net assets 120,212 265 Comparative information Unrestricted Reslricted 2023 Current assets Crediiors 135.660 (2,6581 133,CNJ2 215 135,875 (2,658) Total net assets 215 133.217 9. Related Party Transactions Donations of £50,000 were made to Bournemouth School during the year {2023: £85,358). Page 11