OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-07-31-accounts

Registered Charity No. 702099 Financial statements for the year ended 31 July 2023

Contents Page
-
Legal and Administrative Details for the year ended 31 July 2023 2
Y
Report of the General Committee for the year ended 31 July 2023 4
T
Independent Examiner’s Report 6
I
Statement of Financial Activities for the year ended 31 July 2023 7
N Statement of Financial Position as at 31 July 2023 8
U Notes to the Accounts 9
T
R
O

Solihull School Warwick Road Solihull West Midlands B91 3DJ Tel: 0121 705 0958 Email: prez.sspa@hotmail.co.uk www.solschpa.org.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 2023

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 Vice Treasurer Secretary Minute Secretary

General Committee

2

Solihull School Parents’ Association

Legal and Administrative Details for the year ended 31 July 2023 (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:

3

Solihull School Parents’ Association

Report of the General Committee for the year ended 31 July 2023

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 £56,574 was raised against expenditure of £56,712 leaving a deficit for the year of £138 (2022: £6,655 deficit).

Grants of £40,686 were approved (2022: £51,814) and £nil was paid into the Bursary Fund (2022: £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 2023 was £192,681 (2022: £190,057) reflecting a small 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 2023, income of £6,305 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.

4

Solihull School Parents’ Association

Report of the General Committee for the year ended 31 July 2023 (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 no bursaries during the financial year (2022: £nil).

The Fund benefited from £6,476 investment income (2022: £5,222) of which £6,305 (2022: £5,208) 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 2022, the liquid funds stood at £65,288 (2022: £60,591) (sufficient to cover six terms fees).

Summary of the Main Achievements during the Year

There were no calls on the Bursary Fund this year and, due to receiving significant donations from the General Fund in 2021, 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:

5

Independent Examiner’s Report on the Accounts

Year ended 31 July 2023

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 2023 .

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 ……………………………………….. 10 April 2024 Christopher Whiting FCCA

Address: 9 Willowherb Close, Tamworth, B79 0EX

6

Solihull School Parents’ Association

Statement of Financial Activities for the year ended 31 July 2023

Income
Fundraising events
Other fundraisers
Subscriptions
Investment income
Transfer between funds
Interest
Expenditure
Fundraising 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
£
38,716
6,651
11,207
-
-
-		 Restricted
Funds
Bursary Fund
£
-
-
-
-
6,305
171		 Endowment
Trust Fund
Capital
£
-
-
-
6,305
-
-		 Total
2023
£
38,716
6,651
11,207
6,305
6,305
171		 Total
2022
£
25,207
8,480
11,795
5,208
11,884
14
56,574 6,476 6,305 69,355 62,588
13,208
2,818
-
8,350
32,336		 -
-
-
-
-		 -
-
6,305
-
-		 13,208
2,818
6,305
8,350
32,336		 5,934
1,065
5,208
7,775
44,039
56,712 - 6,305 63,017 64,021
(138) 6,476 - 6,338 (1,433)
- (1,778) (2,624) (4,402) (4,743)
29,620 60,590 192,681 282,891 289,067
29,482 65,288 190,057 284,827 282,891

7

Solihull School Parents’ Association

Statement of Financial Position as at 31 July 2023

Note
Fixed assets
Investments at market value
4
Current assets
Cash at bank and in hand
Current liabilities
Creditors
Net current assets
Net assets		 Unrestricted
Funds
General
£
-
29,482		 Restricted
Funds
Bursary Fund
£
47,297
17,991
Endowment
Trust Fund
Capital
£
185,748
4,309		 2023
Total
£
233,045
51,782		 2022
Total
£
230,506
52,385
29,482 17,991 4,309 51,782 52,385
- - - - -
29,482 17,991 4,309 51,782 52,385
29,482 65,288 190,057 284,827 282,891

8

Solihull School Parents’ Association

Notes to the Accounts for the year ended 31 July 2023

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
Card transaction charges
Miscellaneous
Crockery and cutlery for events
Note 3 Grants
School
Play area in Preparatory School grounds
Commemorative Coronation mugs
Snowdonia Cottage kitchen refurbishment
Commemorative trees to mark Coronation
Other
School prizes
Sean Morgan Bursary Fund
Silhillian Fund – one 50% bursary
Total		 2023
£
140
140
393
-
2,145		 2022
£
400
128
388
149
-
2,818 1,065
2023
-
10,000
10,000
10,000
1,000
1,336
8,350		 2022
43,039
-
-
-
1,000
-
7,775
40,686 51,814

Note 4 Investments

Investments
Market value of investments brought forward
Net movement in investments
Market value of investments carried forward		 2023
2022
£
£
230,506
229,145
2,539
1,361		 2023
2022
£
£
230,506
229,145
2,539
1,361
233,045 230,506

9