Page 36 - OM Newsletter - Issue 44 - 2020

ANNUAL REPORT & STATEMENT OF ACCOUNTS
Report of the Independent Auditor on the Summary Financial Statements
Report of the Independent Auditor on the Summary Financial Statements
The summary financial statements, which comprise the summary Balance sheet as at 31 July 2020 and the summary Statement of financial activities for the year then ended, are derived from the audited financial statements of The Malvernian Society Limited for the year ended 31 July 2020.
In our opinion, the accompanying summary financial statements are a fair summary of the audited financial statements, on the basis described in the Trustees’ Responsibility for the Summary Financial Statements and Trustees Statement below.
Summary Financial Statements
The summary financial statements do not contain all the disclosures required by the Companies Act 2006 and 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 (FRS102). Reading the summary financial statements, therefore, is not a substitute for reading the audited financial statements of The Malvernian Society Limited.
OM Club
Income & Expenditure Account for the year ended 31 July 2020
The Audited Financial Statements and Our Report Thereon
We expressed an unqualified audit opinion on audited financial statements in our report dated 7 November 2020.
Trustees’ Responsibility for the Summary Financial Statements
The trustees are responsible for preparing the summarised financial statements in accordance with applicable United Kingdom law and the recommendations of the charities SORP.
Auditor’s Responsibility
Our responsibility is to express an opinion on whether the summary financial statements are a fair representation of the audited financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing (ISA) 810 (Revised), Engagements to Report on Summary Financial Statements.
Simon Atkins FCA, Senior Statutory Auditor for and on behalf of Cooper Parry Group Limited
Park View
One, Central Boulevard Solihull Date: 7 November 2020
722
Trustees’ Statement
The summarised financial statements contained in this report are extracted from the financial statements prepared by The Malvernian Society Limited for approval by the Trustees on 7 November 2020. The full financial statements were externally audited by Cooper Parry Group Limited, the entity’s statutory auditors, and given an unqualified audit opinion. The full financial statements will be submitted to Companies House and the Charity Commission in due course.
The summarised financial statements may not contain sufficient information to allow a full understanding of the financial affairs of The Malvernian Society Limited. Copies of the full financial statements can be obtained from the Operations Director (e-mail: paul.godsland@ malverncollege.org.uk) in the Society Office.
Signed for and on behalf of the Committee on 7 November 2020
INCOME
Life membership fees
LESS: EXPENDITURE
OM Cricket Club
OM Football Club
OM Golfing Society
OM Hockey Club - Women
OM Hockey Club - Men
OM Rifle Club
OM Sailing Club
OM Netball Club 1,387
Sundry items
(DEFICIT)/SURPLUS (905)
Balance Sheet
as at 31 July 2019
CAPITAL ACCOUNT
1 August
Net (deficit)/surplus for the year As at 31 July
REPRESENTED BY:
Loan to The Malvernian Society
2,500 2,500 2,500
-
1,000 1,700 1,250 3,775
8,500
15,225 732 15,957
(7,457)
Year ended 31.07.2019 ££££
Year ended 31.07.2020
1,387 240 1,627
31.07.2020 ££
20,310 27,767 (905) (7,457) 19,405 20,310
19,405 20,310
31.07.2019
36 | Old Malvernian Newsletter