Pate's Grammar School Parents' Association Balance Sheet as at 31 July 2023
| Current account | 23,196 | 23,391 |
|---|---|---|
| 100 Club account | 17,440 | 23,821 |
| Bar stock | 455 | 217 |
| Cash | 490 | 490 |
| Accrual for bar purchases | (1,200) | - |
| Prepayment for income recognised | 4,601 | - |
| Accrual for 100 club winner payments | (1,100) | |
| Total balances | 43,881 | 47,919 |
| Represented by | ||
| Balances at 1 August 2022 | 47,919 | 27,753 |
| Surplus/(Deficit for year) | (4,037) | 20,166 |
| Balance at 31 July 2023 | 43,881 | 47,919 |
Pate's Grammar School Parents' Association Income and expenditure account for the year ended 31 July 2023
| Income PA Events House music Autumn concert House drama Sweeney Todd Leavers concert Other events Pizza evening Quiz night - Tickets Quiz night - Bar Nearly new uniform Nearly new uniform sales Raffles Christmas raffle Summer raffle Miscellaneous PA income Benevity Amazon smile Terracycle Donation - Ecclesiastical Donation - Lloyds match funding Other |
2023 £ 3,241 588 3,921 1,412 951 2,397 2,107 680 1,214 16,510 5,627 5,627 5,075 3,096 8,171 2,066 910 575 300 556 53 4,460 |
2022 £ 900 20,814 5,220 5,220 20,906 4,168 4,168 20,906 19,914 |
|---|---|---|
100 Club
| Membership 5,730 Interest 89 5,819 Total income 40,588 Expenditure PA Expenditure Bar purchases (3,464) Stock movement 238 Pizza evening - expenses (1,235) Raffle expenses (158) Operating expenses (106) (4,725) 100 Club Prizes (3,300) (3,300) Total expenditure (ex donations to school) (8,025) Surplus for year (before donations to school) 32,563 Donation to school (36,601) Surplus/(Deficit for year) (4,037) |
6,240 3 6,243 57,351 (7,246) (539) (7,785) (3,300) (3,300) (11,085) 46,266 (28,000) 18,266 |
|---|---|
Pate’s Grammar School Parents Association
Treasurer’s Report for year ending 31[st] Jul 2023 – Presented to AGM 8[th] Nov 2023
Commentary
This school year saw a return to “near normal” activities after the recent anomalous times caused by the Covid-19 pandemic. This meant that we had consciously opted to be involved in a few less events than the previous year which had been possibly overly hectic for committee members as people were so enthusiastic to return to in-person events. One of the key themes that has run throughout the year has been the “cost of living crisis” which has affected both individuals’ and also schools’ finances. These factors resulted in both more targeted income generation efforts and an overall lower income generated.
Income
Total income for the year was just shy of £40.6k which for the reasons articulated above was a drop from the previous year’s income of £57.3k.
Income from in person school events was £16.5k which was drop from £20.8k from the previous year, probably for the reasons highlighted above. We again supported a reasonable number of events while also putting most focus on the larger events which are most advantageous for ease of fund raising. The most popular events were:
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House Music £3.2k
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House Drama £3.9k
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Quiz night £1.9k
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Pizza evening £2.1k
Income from the Nearly New Uniform shop was £5.6k against the previous year’s total of £5.2k. We believe the key drivers in the increase in income were the dedication and hard work from this part of the team and pressures of the costs of living crisis
The raffles saw the largest drop in income relative to the year prior. This year we generated £8.2k against the prior year total of £20.9k. Not with-standing the cost of living crisis, this represents a possible opportunity to consider if we can generate more from this income stream.
Miscellaneous income was £4.5k which was a small increase from £4.2k the previous year. The largest income generator was the Benevity funding scheme. This generated £2.1k and represents a possible way to encourage greater giving from those parents in a position to do so.
100 club income for the year was £5.8k which is a drop from £6.2k in the previous year. We have noted that a number of those enrolled in the 100 club have children who are now quite progressed through the school which could indicate a natural drop in income. The 100 club will also be adversely affected by the cost of living crisis.
Expenditure
The total expenditure for the PPA was £8.1k. The principal costs breakdown as follows:
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Drink & bar purchases of £3.5k. This represents a very healthy margin of 76% which also indicates that selling tea and coffee is an excellent way to generate funds. Although we could possibly generate a larger profit margin, we have been mindful of the cost of living crisis and have consciously restricted price increases where possible. Spending on stock was lower than the previous year which suggests a slightly tighter control of stock
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Pizza evening expenses of £1.2k which represents a 41% margin
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100 club payouts were £3.4k. This includes an accrual for prizes awarded for June & July, but not paid until this financial year
Donatons
During the school year we gave £36.6k to the school. This broke down as follows:
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£30.0k as a specific donation to the Pates Giving fund for explicit use for curriculum enrichment activities.
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£3.4k for portable goals
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£3.2k for an indoor bowling machine
In year defcit
The PPA generated a surplus before school donations of £33,663. After giving the donations to the school the full year deficit was £4.1k.
In light of the closing balances below, we are extremely comfortable with having an in-year deficit.
Closing balances
At the end of the period we had the following balances:
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Current account £23.2k
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100 club account £17.4k
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Stock and cash £0.9k
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Accounting accruals and prepayments of £2.2. Most of this has since been paid, except for two 100 club winning balances for which we are trying to make payment.
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Net closing balance of £43,781
We have a minimum reserve balance holding level of £5.5k.
The accounts have been independently reviewed for reasonableness and accuracy by the Pate’s Gramma School Bursar, Mr Stephen Locke