SHEEN MOUNT PRIMARYSCH(X)L PARE]NT STAFFASSOCIATION COMMITTEE REPORT l. Introduction: Our aim as a PSA Committee is two-fold.. Community.. to help develop und sustain positt've relationships between all parent& and between the parents and staff body at the school. Support: Through organised fundraising events. we can suppx)rt the schix)I financially in crcating thc bcst Icarning cnvironmcnt possible for our child]rn. We would like to thank everyone for the Lontinued help and supFx)rtprov1d￿ to the PSA throughout the year. Thi8 includ&8 all parents for attending the events, volunteering, being a class rep, donating prizes, cominiltee members and so many people who contribute time, unofficiallyy throughout tlie year lo ensure our events are well run an(t importantly, enjoyed by alll We are constantly amazed by the efforts. people go to but the evidence is clear to see in all the ways we can supw)rt the school and ultimately the children. 2. Sheen Mount Primary School Parent Staff Association {PSA) The PSA is acharity, which is runby a committeeelected eachyearatthe Annual General Meeting (AGM). The priorities of the PSA each year are driven by the objectives and n￿dS of the school. Fundraising is important, but cqually iinportant is the PSA'S. role in bTinging together the wideT sch(K)I coinmunity. The key objectives can be summarised as- To advance the education and development of thepupils at Slieen Mount Primary School by providing and assisting in thc provision of facilitics for cduLation and dcvclopmLnt not required to be provided (nor funded) by the loeal edu￿tiOn authority To foster, assist anddevelop the conllmunity in and around the schwl, enhancing coinrnunications within and bctwccn studcnts, parcntslguardians, sch(K)I staff, thc Board of Governors and external orgwiisations who work wilh the sch(x)l and ils students. 3. Looking back COVID-19 hashad a large impact on the PSAS event calendar for the financial year ending August 2021 which significantly reduced our fundr￿sIllg capabilities howeverthe PSA got creative virtLJally to try and continue lo fund raise during the pandemic. The PSA event calendar typically I'ollows a traditional format and mixed events which are desigried to bring the school community together as well as raising iinportant funds where possible. Sheen Mount is a very fortunate community, which benefits from a wealth of willing volunteers and a great relationship between the school and the families such that the event calendar, while challenging to organise, continues lo be fun and successful. Below is a summary of the key but limited ei'ents that took placc during thc ycar.. Christmas Cards: Thi5 wa5 or¥anisedthis yur by Mary Hicroniinus Hunter and Jodi Rowldnds- Hiint, and was extremely popular with the childLEn who got to design and see printed their OTh Christmas cards, which are then available for Parents to buyy raising £1,122. Christmas Tree Sale: Orgaiiised by Jodi Rowlands-hunl, the Christtnas Tree sale is extreinely popular and provides good quality trees at very competitive prices and raised close to £1,736. SHEELY MOUNT PRIMARYSCHOOL PAREINT STAFFASSOCIATION Virtual Diseos: An cvcnt run by Sharky and Gcorgc was run virtuallyto ty and cngIncome and endowments from:
Donations
2
Fundraising activities
3
Investments
4
Other income
5
Total income
Expenditure on:
Raising funds
3
Charitable activities
6
Total resources expended
Net income for the year/
Fund balances at 1 September 2020|Unrestricted
funds
£
-
27,723
13
-
27,736
(5,758)
(16,395)
(22,153)
5,583
30,567
36,150|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-|Total
2021
-
27,723
13
-
-
27,736
(5,758)
(16,395)
(22,153)
5,583
30,567
36,150|Total
2020
£
104
62,050
144| |---|---|---|---|---| |||||62,298
(24,060)
(158,384)| |||||(182,444)
(120,146)
150,713| |||||30,567| Page 4 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION STATEMENT OF FINANCIAL POSITION As at 31 August 2021 |Notes
Current Assets
Trade and other receivables
11
Cash at bank and in hand
Current Liabilities
12
Net current assets
Income funds
Restricted funds
Unrestricted funds
13|2021
2020
£
£
1,148
7,758
35,602
131,059
36,750
138,817
600
108,250
36,150
30,567
-
-
36,150
30,567
36,150
30,567| |---|---| Page 5 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021 ## l Accounting policies Charity information Sheen Mount Primary School Parent Staff Association is an unincorporated charity. The registered office is Sheen Mount Primary School, West Temple Sheen, East Sheen London SWl4 7RT. ## l .1 Accounting convention The financial statements have been prepared in accordance with the Association's governing document, the Charities Act 2011 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)' (as amended for accounting periods commencing from I January 2016). The Association is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Association. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## 1.2 Going concern At the time of approving the financial statements, the Committee members have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. Thus the Committee members continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Committee members in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## 1.4 Incoming resources Cash donations are recognised on receipt. Other donations are recognised once the Association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. ## 1.5 Resources expended Resources expended are recognised in the year that they are incurred and they are classified under headings that aggregate all costs related to the category. Resources expended include attributable VAT which cannot be recovered. Costs of generating funds includes all expenditure directly related to the fundraising activities. Charitable expenditure includes all expenditure directly related to the objectives of the charity. Governance costs includes all expenditure relating to constitutional and statutory requirements of the charity and includes administration costs and any costs associated with the strategic management of the charity's activities. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks, Page 6 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 1 Accounting policies (Continued) ## Financial instruments The Association has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the association's Balance Sheet when the association becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including amortisation costs and are subsequently carried at amortised cost using the effective interest method unless the management constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at the market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the management constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. - 2 Donations |Donations and gifts|2021
£
-|2020
£
104| |---|---|---| Page 7 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 |3. Fundraising activities
Fundraising events
Fundraising activities
Unrestricted funds
Uniform sale
Competition on the Fence
Group Cycle ride
Fun run
Quiz evening
PSA party
Summer fair
Christmas fair, trees & cards
Miscellaneous
Easy Fund raising
Disco
Autumn ball
One off Fund raisers|Unrestricted
funds
£
27,723
27,723
Income
£
1,086
2,364
5,100
2,363
-
-
-
6,341
1,487
2,223
4,377
-
2,382
27,723|Restricted
funds
£
-
-
Expenses
£
-
-
-
-
-
3,483
1,095
-
1,180
-
-
5,758|Total
2021
£
27,723
27,723
2021
Net
£
1,086
2,364
5,100
2,363
-
-
-
2,858
392
2,223
3,197
-
2,382
21,965|Total
2020
£
62,050| |---|---|---|---|---| |||||62,050| |||||2020
Net
£
-
-
848
886
(931)
9,458
(45)
2,360
-
22,900
2,514| |||||37,990| The Group Cycle ride relates to deposits donated for the cancelled Belgium ride and the Uniform Sale income was received directly to the PSA rather than transferred to the school. ## 4. Investments Interest receivable 5. Other income Other income |2021
£
13
2021
£
-|2020
£| |---|---| ||144| ||2020
£| ||-| Page 8 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 6. Charitable activities |Power Science Show
Classroom Kit
Colour team shirts
Library & Library Cloud
Miscellaneous
New BBQ
Swimming pool
Chrome books
Water bottles
Outdoor play equipment
Sound equipment
Share of support costs (see note
8)
Share of governance costs (see
note 8)
Analysis by fund
Unrestricted funds
Unrestricted funds|Donations
Other
£
£
-
-
4,200
-
-
-
1,158
-
666
-
-
-
8,845
-
153
-
-
-
-|2021
£
-
4,200
-
1,158
666
-
-
8,845
153
-
-
15,022
773
600
16,395
16,395|2020
£
316
-
482
-
428
485
150,000
-
163
5,279
118| |---|---|---|---| ||15,022||157,271
513
600| ||||158,384| ||||158,384| Page 9 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 7. Support costs |Insurance
Sundry expenses
Independent examination 2021
Analysed between
Charitable activities|Support
costs
149
624
773
773|Governance
costs
-
-
600
600
600|2021
£
149
624
600
1,373
1,373|2020
£
122
391
600| |---|---|---|---|---| |||||1,113| |||||| |||||1,113| ## 8. Committee Members None of the Committee members (or any person connected with them) received any remuneration. ## 9. Employees |10. Financial Instruments
Carrying amount of financial liabilities
Measured at amortised cost
11. Prepayments and accrued income|2021
614
£
1,148|2020| |---|---|---| |||614| |||£| |||7,758| Prepayments include £1066 of Disco income which is receivable from the school after the year end. |12. Accruals and deferred income|2021
£
600|2020
£| |---|---|---| |||108,250| Page 10 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 13. Analysis of net assets between funds |Fund balances at 31st August
2021 are represented by:
Annual report and**unaudited**
financial statements For the year
ended 31 August 2021
Current assets/(Liabilities)|Unrestricted funds
£
36,150
36,150|Restricted funds
£
-
-|Total
£
36,150| |---|---|---|---| ||||36,150| ## 16. Related party transactions There were no disclosable related party transactions during the year (2020- none). Page 11 Charity Registration No. 295212 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFFASSOCIATION Annual report and unaudited financial statements For the year ended 31 August 2021 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION ## **Committee Members** Ian Hutchings Jodie Hunt Claire Leonard Jeantetter Jones Nia Jeffries Andrew Gardener ## **Charity number** 295212 ## **Principal address** Sheen Mount Primary School West Temple Sheen East Sheen London SW147RT ## **Independent examiner** Gail Ledger SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION CONTENTS ## **Page** |||1|Committee report| |---|---|---|---| |||2|Statement of Committee responsibilities| |||3|Independent examiners report| |||4|Statement of financial activities| |||5|Statement of financial position| |6|to|11|Notes to the financial statements| ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION INDEPENDENT EXAMINERS REPORT ## TO THE COMMITTEE MEMBERS OF SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION I report to the Committee members on my examination of the financial statements of Sheen Mount Primary School Parent Staff Association (the Association) for the year ended 31st August 2021. ## Responsibilities and basis of report As the Committee members of the Association you are responsible for the preparation of the Financial Statements in Annual report and unaudited financial statements for the year ended 31 August 2021. I report in respect of my examination of the Associations Financial Statements carried out under Section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable directions given by the Charity Commission given under section 145(5)(b) of the 2011 Act. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the Association as required by section 130 of the 2011 Act; or 2 the financial statements do not accord with those records; or 3 the financial statements do 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 financial statements to be reached. Gail Ledger F.C.C.A Dated: 20th June 2022 Page 3 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION STATEMENT OF FINANCIAL ACTVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT For the year ended 31 August 2021 |Notes
Income and endowments from:
Donations
2
Fundraising activities
3
Investments
4
Other income
5
Total income
Expenditure on:
Raising funds
3
Charitable activities
6
Total resources expended
Net income for the year/
Fund balances at 1 September 2020|Unrestricted
funds
£
-
27,723
13
-
27,736
(5,758)
(16,395)
(22,153)
5,583
30,567
36,150|Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-|Total
2021
-
27,723
13
-
-
27,736
(5,758)
(16,395)
(22,153)
5,583
30,567
36,150|Total
2020
£
104
62,050
144| |---|---|---|---|---| |||||62,298
(24,060)
(158,384)| |||||(182,444)
(120,146)
150,713| |||||30,567| Page 4 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION STATEMENT OF FINANCIAL POSITION As at 31 August 2021 |Notes
Current Assets
Trade and other receivables
11
Cash at bank and in hand
Current Liabilities
12
Net current assets
Income funds
Restricted funds
Unrestricted funds
13|2021
2020
£
£
1,148
7,758
35,602
131,059
36,750
138,817
600
108,250
36,150
30,567
-
-
36,150
30,567
36,150
30,567| |---|---| Page 5 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 August 2021 ## l Accounting policies Charity information Sheen Mount Primary School Parent Staff Association is an unincorporated charity. The registered office is Sheen Mount Primary School, West Temple Sheen, East Sheen London SWl4 7RT. ## l .1 Accounting convention The financial statements have been prepared in accordance with the Association's governing document, the Charities Act 2011 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)' (as amended for accounting periods commencing from I January 2016). The Association is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the Association. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## 1.2 Going concern At the time of approving the financial statements, the Committee members have a reasonable expectation that the Association has adequate resources to continue in operational existence for the foreseeable future. Thus the Committee members continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Committee members in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## 1.4 Incoming resources Cash donations are recognised on receipt. Other donations are recognised once the Association has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. ## 1.5 Resources expended Resources expended are recognised in the year that they are incurred and they are classified under headings that aggregate all costs related to the category. Resources expended include attributable VAT which cannot be recovered. Costs of generating funds includes all expenditure directly related to the fundraising activities. Charitable expenditure includes all expenditure directly related to the objectives of the charity. Governance costs includes all expenditure relating to constitutional and statutory requirements of the charity and includes administration costs and any costs associated with the strategic management of the charity's activities. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks, Page 6 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 1 Accounting policies (Continued) ## Financial instruments The Association has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the association's Balance Sheet when the association becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including amortisation costs and are subsequently carried at amortised cost using the effective interest method unless the management constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at the market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including trade and other payables are initially recognised at transaction price unless the management constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. - 2 Donations |Donations and gifts|2021
£
-|2020
£
104| |---|---|---| Page 7 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 |3. Fundraising activities
Fundraising events
Fundraising activities
Unrestricted funds
Uniform sale
Competition on the Fence
Group Cycle ride
Fun run
Quiz evening
PSA party
Summer fair
Christmas fair, trees & cards
Miscellaneous
Easy Fund raising
Disco
Autumn ball
One off Fund raisers|Unrestricted
funds
£
27,723
27,723
Income
£
1,086
2,364
5,100
2,363
-
-
-
6,341
1,487
2,223
4,377
-
2,382
27,723|Restricted
funds
£
-
-
Expenses
£
-
-
-
-
-
3,483
1,095
-
1,180
-
-
5,758|Total
2021
£
27,723
27,723
2021
Net
£
1,086
2,364
5,100
2,363
-
-
-
2,858
392
2,223
3,197
-
2,382
21,965|Total
2020
£
62,050| |---|---|---|---|---| |||||62,050| |||||2020
Net
£
-
-
848
886
(931)
9,458
(45)
2,360
-
22,900
2,514| |||||37,990| The Group Cycle ride relates to deposits donated for the cancelled Belgium ride and the Uniform Sale income was received directly to the PSA rather than transferred to the school. ## 4. Investments Interest receivable 5. Other income Other income |2021
£
13
2021
£
-|2020
£| |---|---| ||144| ||2020
£| ||-| Page 8 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 6. Charitable activities |Power Science Show
Classroom Kit
Colour team shirts
Library & Library Cloud
Miscellaneous
New BBQ
Swimming pool
Chrome books
Water bottles
Outdoor play equipment
Sound equipment
Share of support costs (see note
8)
Share of governance costs (see
note 8)
Analysis by fund
Unrestricted funds
Unrestricted funds|Donations
Other
£
£
-
-
4,200
-
-
-
1,158
-
666
-
-
-
8,845
-
153
-
-
-
-|2021
£
-
4,200
-
1,158
666
-
-
8,845
153
-
-
15,022
773
600
16,395
16,395|2020
£
316
-
482
-
428
485
150,000
-
163
5,279
118| |---|---|---|---| ||15,022||157,271
513
600| ||||158,384| ||||158,384| Page 9 ## SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 7. Support costs |Insurance
Sundry expenses
Independent examination 2021
Analysed between
Charitable activities|Support
costs
149
624
773
773|Governance
costs
-
-
600
600
600|2021
£
149
624
600
1,373
1,373|2020
£
122
391
600| |---|---|---|---|---| |||||1,113| |||||| |||||1,113| ## 8. Committee Members None of the Committee members (or any person connected with them) received any remuneration. ## 9. Employees |10. Financial Instruments
Carrying amount of financial liabilities
Measured at amortised cost
11. Prepayments and accrued income|2021
614
£
1,148|2020| |---|---|---| |||614| |||£| |||7,758| Prepayments include £1066 of Disco income which is receivable from the school after the year end. |12. Accruals and deferred income|2021
£
600|2020
£| |---|---|---| |||108,250| Page 10 SHEEN MOUNT PRIMARY SCHOOL PARENT STAFF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 August 2021 ## 13. Analysis of net assets between funds |Fund balances at 31st August
2021 are represented by:
Annual report and**unaudited**
financial statements For the year
ended 31 August 2021
Current assets/(Liabilities)|Unrestricted funds
£
36,150
36,150|Restricted funds
£
-
-|Total
£
36,150| |---|---|---|---| ||||36,150| ## 16. Related party transactions There were no disclosable related party transactions during the year (2020- none). Page 11