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COMPANY REGISTRATION NUMBER: 08781609
CHARITY REGISTRATION NUMBER: 1155348
Friends of Chesterton School & Nursery Ltd
Company Limited by Guarantee
Unaudited Financial Statements
31 August 2024
Friends of Chesterton School & Nursery Ltd
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2024
Page
Trustees' annual report (incorporating the director's report)
1
Statement of financial activities (including income and expenditure account)
4
Statement of financial position
5
Notes to the financial statements
6
Friends of Chesterton School & Nursery Ltd
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2024 .
Reference and administrative details
Registered charity name
Friends of Chesterton School & Nursery Ltd
Charity registration number
1155348
Company registration number
08781609
Principal office and registered
Chesterton County Primary School
office
Apsley Road
Cirencester
GL7 1SS
The trustees
Mrs K Robinson
(Retired 10 October 2023)
Mrs M Gregory
(Retired 28 September 2023)
Mrs S Walker
Ms A Scriven
Ms M Wall
(Retired 5 February 2024)
Ms A Greener
(Served from 16 October 2023 to 11 December 2023)
Accountants
Monahans
Chartered Accountants
Oakley House
Tetbury Road
Cirencester
Gloucestershire
GL7 1US
Structure, governance and management
A team of individuals manage the Charity, none of which are employed by the Charity although some are employees or Governors of the primary school. Meetings are held each academic term with an AGM once a year. On such occasions when new trustees are required, they are recruited from the school community.
Objectives and activities
1) To enhance the experiences and education of the pupils in the school, with particular focus on:
a) Developing effective relationships between the staff, parents and others associated with the school.
b) Engaging in activities or providing facilities and equipment which supports the school and enhances the education of the pupils.
Achievements and performance
The activities and services that are offered throughout the year are of public benefit supporting primarily the immediate members of the school community, as well as the surrounding area of Chesterton, in providing families with low cost opportunities to aid in fundraising for the school.
New trustees will receive the Charities Commission summary guidance on charities and public benefit. Trustees will keep in mind at meetings when assessing and developing services and reviewing practices the guidance provided for them by the Charity Commission. Trustees will ensure they are continually meeting the needs of the school and the local community. The focus of activities throughout the year remains the same: providing fundraising opportunities to support and develop children by assisting with the purchasing of educational equipment and contributing to their social wellbeing through trips and visits that pupils may not necessarily have the opportunity to be exposed to in their home environment.
Opportunities and ideas continue to come from consultation with the school, the parents and also the children themselves. Trustees will consult on the best way to deploy any monies raised as part of the fundraising activities and will look to liaise in a professional manner with those that are requesting funds. The charity prides itself on being inclusive, welcoming and supportive of all families and children regardless of background, race, religion, gender, disability or personal circumstances.
The Charity continues to look at developing strong community links with businesses in the local area and receive a large amount of support from a prominent local business and with a local supermarket continuing to support our fundraising efforts this year through donations. The school now has a community lead who works with us to help support these efforts. We held a hugely successful Family Fun Day in the summer which was supported by local sports group and acts.
The Charity welcomes new volunteers to support its fundraising efforts and will hold various events throughout the year to try and encourage new members of the school community to be involved. We try to keep any fundraising as affordable as possible to allow everyone to be involved.
Financial review
The team of volunteers have worked incredibly hard to achieve the fundraising results during this financial period. We have made good profits on events this year and have a large amount of stock ready for next year.
Plans for future periods
The next financial year we are still working towards investing in some outdoor play equipment for the school. We have a formal committee fully in place and a small group of volunteers which we are hoping to grow & develop this year.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 6 March 2025 and signed on behalf of the board of trustees by:
Mrs S Walker
Trustee
Friends of Chesterton School & Nursery Ltd
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Other trading activities
4
5,677
5,677
8,157
-------
-------
-------
Total income
5,677
5,677
8,157
-------
-------
-------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
5
4,323
4,323
4,641
Other expenditure
6
578
578
1,194
-------
-------
-------
Total expenditure
4,901
4,901
5,835
-------
-------
-------
-------
-------
-------
Net income and net movement in funds
776
776
2,322
-------
-------
-------
Reconciliation of funds
Total funds brought forward
11,465
11,465
9,143
--------
--------
--------
Total funds carried forward
12,241
12,241
11,465
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Friends of Chesterton School & Nursery Ltd
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Current assets
Cash at bank and in hand
12,656
11,855
Creditors: amounts falling due within one year
9
415
390
--------
--------
Net current assets
12,241
11,465
--------
--------
Total assets less current liabilities
12,241
11,465
--------
--------
Net assets
12,241
11,465
--------
--------
Funds of the charity
Unrestricted funds
12,241
11,465
--------
--------
Total charity funds
10
12,241
11,465
--------
--------
For the year ending 31 August 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 6 March 2025 , and are signed on behalf of the board by:
Mrs S Walker
Trustee
Friends of Chesterton School & Nursery Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Chesterton County Primary School, Apsley Road, Cirencester, GL7 1SS.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures , fittings and equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Fundraising events
157
157
Cake sales and summer fete
147
147
2,207
2,207
Disco
407
407
497
497
Fundraising & other events
3,729
3,729
3,397
3,397
Christmas raffle & fete
1,394
1,394
1,899
1,899
-------
-------
-------
-------
5,677
5,677
8,157
8,157
-------
-------
-------
-------
5. Costs of raising donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Costs of raising donations and legacies - Donations
4,323
4,323
4,641
4,641
-------
-------
-------
-------
6. Other expenditure
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donation for play equipment
163
163
810
810
Accountancy fees
415
415
384
384
----
----
-------
-------
578
578
1,194
1,194
----
----
-------
-------
7. Trustee remuneration and expenses
No salaries or wages have been paid to employees, including the members of the committee, during the year.
8. Tangible fixed assets
Equipment
Total
£
£
Cost
At 1 September 2023 and 31 August 2024
906
906
----
----
Depreciation
At 1 September 2023 and 31 August 2024
906
906
----
----
Carrying amount
At 31 August 2024
----
----
At 31 August 2023
----
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
415
390
----
----
10. Analysis of charitable funds
Unrestricted funds
At 1 September 2023
Income
Expenditure
At 31 August 2024
£
£
£
£
General funds
11,465
5,677
(4,901)
12,241
--------
-------
-------
--------
At 1 September 2022
Income
Expenditure
At 31 August 2023
£
£
£
£
General funds
9,143
8,157
(5,835)
11,465
-------
-------
-------
--------
11. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Current assets
12,656
12,656
Creditors less than 1 year
(415)
(415)
--------
--------
Net assets
12,241
12,241
--------
--------
Unrestricted Funds
Total Funds 2023
£
£
Current assets
11,855
11,855
Creditors less than 1 year
(390)
(390)
--------
--------
Net assets
11,465
11,465
--------
--------