REGISTERED CHARITY NUMBER: 802621
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
FOR
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
Versa Accountants Ltd Chartered Certified Accountants Unit 2 99-101 Kingsland Road London E2 8AG
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | ||
| Balance Sheet | 3 | ||
| Notes to the Financial Statements | 4 | to | 9 |
| Detailed Statement of Financial Activities | 10 |
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 30 September 2022. The trustees have adopted the provisions of 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) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
802621
Principal address
Oakleigh Road North Whetstone London N20 0DH
Trustees
Ms R Harding Head Teacher
Approved by order of the board of trustees on 27 July 2023 and signed on its behalf by:
Ms R Harding - Trustee
Page 1
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 2,408 - Other trading activities 2 59,997 - Investment income 3 2 - Total 62,407 - EXPENDITURE ON Raising funds 5,450 - Other 29,495 - Total 34,945 - NET INCOME 27,462 - RECONCILIATION OF FUNDS Total funds brought forward 26,039 3,187 TOTAL FUNDS CARRIED FORWARD 53,501 3,187 |
2022 Total funds £ 2,408 59,997 2 62,407 5,450 29,495 34,945 27,462 29,226 56,688 |
2021 Total funds £ 3,259 34,123 - |
|---|---|---|
| 37,382 | ||
| 605 31,062 |
||
| 31,667 | ||
| 5,715 23,511 |
||
| 29,226 |
The notes form part of these financial statements
Page 2
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
BALANCE SHEET 30 SEPTEMBER 2022
| Unrestricted Restricted funds funds Notes £ £ CURRENT ASSETS Cash at bank and in hand 57,936 3,186 CREDITORS Amounts falling due within one year 6 (4,435) 1 NET CURRENT ASSETS 53,501 3,187 TOTAL ASSETS LESS CURRENT LIABILITIES 53,501 3,187 NET ASSETS 53,501 3,187 FUNDS 7 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 61,122 (4,434) 56,688 56,688 56,688 53,501 3,187 56,688 |
2021 Total funds £ 31,652 (2,426) 29,226 29,226 29,226 26,039 3,187 29,226 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 27 July 2023 and were signed on its behalf by:
R Harding - Trustee
The notes form part of these financial statements
Page 3
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. OTHER TRADING ACTIVITIES
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| OOPS income | 59,997 | 34,123 |
continued...
Page 4
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | £ | |||
| Deposit account interest | 2 | - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 September 2022 nor for the year ended 30 September 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 September 2022 nor for the year ended 30 September 2021.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 3,259 - Other trading activities 34,123 - Total 37,382 - EXPENDITURE ON Raising funds 605 - Other 31,062 - Total 31,667 - NET INCOME 5,715 - Transfers between funds 18,244 (18,244) Net movement in funds 23,959 (18,244) RECONCILIATION OF FUNDS Total funds brought forward 2,080 21,431 TOTAL FUNDS CARRIED FORWARD 26,039 3,187 |
Total funds £ 3,259 34,123 |
|---|---|
| 37,382 | |
| 605 31,062 |
|
| 31,667 | |
| 5,715 - |
|
| 5,715 23,511 |
|
| 29,226 |
Page 5
continued...
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ | £ | |||
| Taxation and social security | 2,008 | - | ||
| Other creditors | 2,426 | 2,426 | ||
| 4,434 | 2,426 | |||
| 7. | MOVEMENT IN FUNDS | |||
| Net | ||||
| At | movement | At | ||
| 1.10.21 | in funds | 30.9.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 20,512 | 1,200 | 21,712 | |
| Oakleigh Opportunities For The Play | ||||
| (OOPS) | ||||
| 5,527 | 26,262 | 31,789 | ||
| 26,039 | 27,462 | 53,501 | ||
| Restricted funds | ||||
| Sensory Room/Equipment | 3,187 | - | 3,187 | |
| TOTAL FUNDS | 29,226 | 27,462 | 56,688 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 2,410 | (1,210) | 1,200 | |
| Oakleigh Opportunities For The Play | ||||
| (OOPS) | ||||
| 59,997 | (33,735) | 26,262 | ||
| 62,407 | (34,945) | 27,462 | ||
| TOTAL FUNDS | 62,407 | (34,945) | 27,462 |
Page 6
continued...
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
7. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Oakleigh Opportunities For The Play (OOPS) Restricted funds Hydro Pool Sensory Room/Equipment TOTAL FUNDS |
Net Transfers At movement between At 1.10.20 in funds funds 30.9.21 £ £ £ £ 2,080 188 18,244 20,512 - 5,527 - 5,527 2,080 5,715 18,244 26,039 18,244 - (18,244) - 3,187 - - 3,187 21,431 - (18,244) 3,187 23,511 5,715 - 29,226 |
Net Transfers At movement between At 1.10.20 in funds funds 30.9.21 £ £ £ £ 2,080 188 18,244 20,512 - 5,527 - 5,527 2,080 5,715 18,244 26,039 18,244 - (18,244) - 3,187 - - 3,187 21,431 - (18,244) 3,187 23,511 5,715 - 29,226 |
|---|---|---|
| 26,039 - 3,187 |
||
| 3,187 | ||
| 29,226 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 718 | (530) | 188 |
| Oakleigh Opportunities For The Play | |||
| (OOPS) | |||
| 36,664 | (31,137) | 5,527 | |
| 37,382 | (31,667) | 5,715 | |
| TOTAL FUNDS | 37,382 | (31,667) | 5,715 |
continued...
Page 7
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
7. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Oakleigh Opportunities For The Play (OOPS) Restricted funds Hydro Pool Sensory Room/Equipment TOTAL FUNDS |
Net Transfers At movement between At 1.10.20 in funds funds 30.9.22 £ £ £ £ 2,080 1,388 18,244 21,712 - 31,789 - 31,789 2,080 33,177 18,244 53,501 18,244 - (18,244) - 3,187 - - 3,187 21,431 - (18,244) 3,187 23,511 33,177 - 56,688 |
Net Transfers At movement between At 1.10.20 in funds funds 30.9.22 £ £ £ £ 2,080 1,388 18,244 21,712 - 31,789 - 31,789 2,080 33,177 18,244 53,501 18,244 - (18,244) - 3,187 - - 3,187 21,431 - (18,244) 3,187 23,511 33,177 - 56,688 |
|---|---|---|
| 53,501 - 3,187 |
||
| 3,187 | ||
| 56,688 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 3,128 | (1,740) | 1,388 |
| Oakleigh Opportunities For The Play | |||
| (OOPS) | |||
| 96,661 | (64,872) | 31,789 | |
| 99,789 | (66,612) | 33,177 | |
| TOTAL FUNDS | 99,789 | (66,612) | 33,177 |
In the AGM dated 12 July 2021, it was decided to move the PSA restricted funds for the Hydrotherapy Pool to Unrestricted funds as Ruth Harding shared that the refurbishment will hopefully be paid for by the Local authority and therefore asked for the Committee's agreement to remove the restriction to this fund. Ruth contacted each of the donors to advise of the proposed re-allocation of funds to the unrestrictive immersive sensory playroom fund and there were no objections raised.
continued...
Page 8
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022
8. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 September 2022.
Page 9
OAKLEIGH SCHOOL PARENT STAFF ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 2,408 | 3,259 |
| Other trading activities | ||
| OOPS income | 59,997 | 34,123 |
| Investment income | ||
| Deposit account interest | 2 | - |
| Total incoming resources | 62,407 | 37,382 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Sundries | 74 | 75 |
| Other trading activities | ||
| School Fundraising | 4,166 | - |
| Minibus | 1,210 | 530 |
| 5,376 | 530 | |
| Other | ||
| Wages | 28,504 | 23,546 |
| Social security | 384 | 5,984 |
| Pensions | 118 | 133 |
| Payroll cost | 489 | 464 |
| Bus trip | - | 935 |
| 29,495 | 31,062 | |
| Total resources expended | 34,945 | 31,667 |
| Net income | 27,462 | 5,715 |
This page does not form part of the statutory financial statements
Page 10