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2021-07-31-accounts

Registered Charity No. 702099 Financial statements for the year ended 31 July 2021

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Contents Page
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Legal and Administrative Details for the year ended 31 July 2021 2
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Report of the General Committee for the year ended 31 July 2021 4
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Independent Examiner’s Report 6
I
Statement of Financial Activities for the year ended 31 July 2021 7
N Statement of Financial Position as at 31 July 2021 8
U Notes to the Accounts 9
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Solihull School Warwick Road Solihull West Midlands B91 3DJ Tel: 0121 705 0958 Email: prez.sspa@hotmail.co.uk www.solschpa.co.uk Solihull School Parents’ Association is a registered charity registered in England and Wales Registered Charity No. 702099 Registered Office: 793 Warwick Road Solihull West Midlands B91 3DJ

Solihull School Parents’ Association

Legal and Administrative Details for the year ended 31 July 2021

The Solihull School Parents’ Association is a charity registered with the Charity Commission in England and Wales, registration number 702099.

The Charity is governed by a General Committee of Trustees, advised by an Executive Committee, comprised as follows:

Executive Committee:

President Treasurer Immediate Past President Secretary

General Committee

Ex Officio

Ex Officio

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Solihull School Parents’ Association

Legal and Administrative Details for the year ended 31 July 2021 (continued)

The SSPA has an endowment fund and an unrestricted fund, which is held in trust and overseen by dedicated Trustees. Although the capital sum cannot be distributed, it is invested to provide a balance of long-term growth and to generate income to assist in cases of financial hardship which are considered by the SSPA Bursary Fund Committee.

Trust Fund Trustees

SSPA Bursary Fund Committee

Bankers

Custodians of the Trust Fund

The annual accounts are reviewed by the Independent Examiner:

The address of the Association registered with the Charity Commissioners is:

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Solihull School Parents’ Association

Report of the General Committee for the year ended 31 July 2021

Constitution and Aims of the Association

The SSPA was founded in 1929 and is currently constituted under rules adopted in 1989 and as amended by resolution of the members at the AGM on 24 June 2009.

The aims of the Association are to advance the education of pupils by:

The Charity has a General Fund, a Trust Fund and an SSPA Bursary Fund:

General Fund

The General Fund is an unrestricted fund into which the proceeds of fund-raising activities are paid and out of which grants are made.

During the year, total income of £26,992 was raised against expenditure of £8,373 leaving a surplus for the year of £18,619 (2020: £13,597).

Grants of £1,000 were approved (2020: £4,701) and £16,097 was paid into the Bursary Fund (2020: £nil).

Trust Fund

In 1939, as a result of a parental donation, the Solihull School Parents’ Association General Committee established a Trust Fund to be invested and added to as required.

The Trust Fund Trustees are appointed by the General Committee. Trustees are appointed for a term of 3 years, after which they may stand for re-election.

The Trustees are responsible for the stewardship of the investments held in the Trust Fund and their aims are to produce long-term growth and sufficient income to maintain the SSPA Bursary Fund.

The value of the Trust Fund at 31 July 2021 was £229,145 (2020: £195,516) reflecting a significant increase in market value.

Income is allocated to the SSPA Bursary Fund less any fees incurred by the Trust Fund. For the year ended 31 July 2021, income of £4,434 was accumulated. The fund is managed by Brewin Dolphin under the direction of the Trustees. No fee was payable for this service.

The Trustees expect Brewin Dolphin to consider environmental, social and governance factors when selecting investments and to invest in a manner that is consistent with the Trust Fund’s objectives, values and ethos.

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Solihull School Parents’ Association

Report of the General Committee for the year ended 31 July 2020 (continued)

SSPA Bursary Fund

The aim of the SSPA Bursary Fund (formerly known as the Careers Fund) is to provide funds to cover the school fees of children in exam years (Upper V or Upper VI) whose parents have encountered financial hardship. The Fund approved one bursary during the financial year of £6,676 (2020: £3,465).

The Fund benefited from £4,435 investment income (2020: £5,795) of which £4,434 (2020: £5,768) was due from the Trust Fund.

The General Committee aims to maintain reasonably liquid funds within the SSPA Bursary Fund, equivalent to a minimum of six terms fees. Pertaining to this, the Committee have further agreed that a minimum of two terms fees should always be held on a short term deposit (3 months or less), with the option to hold four or more terms fees on a longer notice period (6 months).

At 31 July 2021, the liquid funds stood at £46,819 (2020: £40,337) (sufficient to cover six terms fees).

Summary of the Main Achievements during the Year

The Trustees were pleased to be able to support one bursary case this year and, due to receiving significant donations from the General Fund, are in a strong position to offer future bursaries should the need arise.

Statement of the Financial Responsibilities of the General Committee

Charity law requires the General Committee, as Trustees, to prepare accounts for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year.

In preparing the accounts, the Trustees are required to:

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Independent Examiner’s Report on the Accounts

Year ended 31 July 2021

Charity number 702099

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 July 2021 .

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed ……………………………………….. 30 May 2022 Christopher Whiting FCCA

Address: 92 High Street, Chasetown, Burntwood, Staffordshire, WS7 3XG

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Solihull School Parents’ Association

Statement of Financial Activities for the year ended 31 July 2021

Income
Fundraising events
Other fundraisers
Subscriptions
Investment income
Donation
Transfer between funds
Interest
Expenditure
Fund raising expenditure
Support costs
Transfer between funds
Pupil grants
School/Trust Fund grants
Net increase/(decrease) for
year
Movement in market value
Balance brought forward
Balance carried forward		 Unrestricted
Funds
General
£
9,608
1,774
15,610
-
-
-
-		 Restricted
Funds
Bursary Fund
£
-
-
-
-
16,097
4,434
1		 Endowment
Trust Fund
Capital
£
-
-
-
4,434
-
-
-		 Total
2021
£
9,608
1,774
15,610
4,434
16,097
4,434
1		 Total
2020
£
10,732
2,514
8,611
5,330
200
5,768
28
**26,992 ** **20,532 ** **4,434 ** 51,958 33,183
8,188
185
-
-
17,097		 -
-
-
7,908
-		 -
-
4,434
-
-		 8,188
185
4,434
7,908
17,097		 2,925
835
5,768
3,465
4,701
25,470 7,908 **4.434 ** 37,812 **17,694 **
1,522 12,624 - 14,146 15,489
- 3,279 30,394 33,673 (10,085)
34,753 40,337 166,158 241,248 235,884
36,275 56,240 196,552 289,067 241,248

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Solihull School Parents’ Association

Statement of Financial Position as at 31 July 2021

Note
Fixed assets
Investments at market value
4
Current assets
Owed by General Fund
Cash at bank and in hand
Current liabilities
Creditors
Net current assets
Net assets		 Unrestricted
Funds
General
£
-
-
53,372		 Restricted
Funds
Bursary Fund
£
32,700
16,097
14,119
Endowment
Trust Fund
Capital
£
196,445
-
107		 2021
Total
£
229,145
16,097
67,598		 2020
Total
£
195,516
37,573
45,732
53,372 30,216 107 83,695 83,305
17,097 6,676 - 23,773 37,573
36,275 23,540 107 59,922 45,732
36,275 56,240 196,552 289,067 241,248

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Solihull School Parents’ Association

Notes to the Accounts for the year ended 31 July 2021

Note 1 Accounting Policies

These accounts have been prepared under the historical cost convention as modified by the revaluation of investments and in accordance with Statement of Recommended Practice Accounting by Charities (SORP 2005).

Note 2 Support Costs

Chapel flowers
Parentkind membership
Website hosting
Miscellaneous
Note 3 School Grants
School
Parental donation
Other
School prizes
Donation to SSPA Bursary Fund
Silhillian Fund – one full sixth-form bursary
Total
Note 4 Investments
Investments
Market value of investments brought forward
Net movement in investments
Market value of investments carried forward		 2021
£
-
123
-
62		 2020
£
500
122
103
110
185 835
2021
-
1,000
16,097
-		 2020
200
1,000
-
3,501
17,097 4,701
2021
£
195,516
33,629		 2020
£
195,911
(395)
229,145 195,516

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