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← St Paul's Waldorf School Building

2025-08-31-accounts

Charity registration number 1037313 (England and Wales)

Company registration number 02921716

ST PAUL'S WALDORF SCHOOL BUILDING

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

ST PAUL'S WALDORF SCHOOL BUILDING

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees R Renton
M Dalton
L Clarke
T Silver
A Telle Nakata (Appointed 3 September 2024)
P De Keyser (Appointed 4 September 2025)
A Bontoi (Appointed 4 September 2025)
Secretary A Auckburally
Charity number (England and Wales) 1037313
Company number 02921716
Registered office St Paul's Church
1 St Paul's Road
London
N1 2QH
Independent examiner Kate Taylor FCA
Wellesley House
Duke of Wellington Avenue
Royal Arsenal
London
SE18 6SS
Bankers HSBC Bank Plc
25 Islington High Street
Islington
London
N1 9LJ

ST PAUL'S WALDORF SCHOOL BUILDING

CONTENTS

Page
Trustees report 1 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 16

ST PAUL'S WALDORF SCHOOL BUILDING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association, 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The object for which the charity is established is to renovate and adapt the de-consecrated and derelict St. Paul’s Church, a Grade 2* listed building, to provide educational facilities which are occupied by the St. Paul’s Waldorf School.

Activities

The charity was granted a 125-year lease at an initial peppercorn rent in the first few years over the de-consecrated and derelict St Paul’s Church, Islington, a Grade II* listed building. The church has been renovated and converted to provide educational facilities, which are occupied by the St Paul’s Waldorf School, which is operated by the associated charity, St Paul’s Waldorf School. The charity was also granted more recently a 10-year lease in 2017 on the St Paul’s Church Hall, a Grade II listed building. This is an ongoing discussion with the Diocese - we are told that we are the preferred tenants.

Public benefit

In setting the charity’s objectives and planning its activities, the trustees have considered the Charity Commission’s guidance on public benefit. St. Paul’s Waldorf School Building and the associated St Paul’s Waldorf School is committed to ensuring that all activities are free from any discrimination on the grounds of age, sex, race, disability, religion or belief, gender reassignment, pregnancy or maternity, marriage or civil partnership, or sexual orientation. We are committed to safeguarding and promoting the welfare of children and young people and expect all staff and volunteers to share this commitment.

Achievements and performance

There are 2 groups to support this - Core Group composed of Chair of Trustees Tali Silver, Development trustee Mark Dalton, Head Teacher Anna Retsler, School Business Manager Ashad Auckburally, Development and Fundraising Lead Camilla Thorogood. The Advisory Group is composed of former Chair of Trustees Belle Benson, bringing historical knowledge and part of creating the school’s development plans and the feasibility/master plan phase; Teacher Ethan Reeves, Chair of College Stephanie Göebel, Architect Clive Henderson and Facilities Manager Alexandra Julin. Together they are dedicated to enhancing the school. Within the school, this work progresses without the trustees. We are enthusiastic about improving the school with the master plan and landscape plan developed by Erect Architecture and the heritage renovation work outlined in the Quinquennial Report and Conservation Management Plan by Roger Mears Architects/RMA. These plans require substantial funding. A dedicated development role was hired in Nov. ‘24

ST PAUL'S WALDORF SCHOOL BUILDING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

School improvements work

As reported in last year’s Report, Erect Architecture was commissioned to produce a landscape scheme for the total site, which was also a Planning Condition of the original Planning Approvals for the conversion of the church building into the school. As a result of Erect Architecture’s submissions, Planning Approval and Listed Building Consent were granted by Islington Council in December 2023 for the new landscaping and boundary wall works, and which includes timberbuilt open-classrooms, play structures, pond, new gates and new gate opening, and the addition of a high timber acoustic fence to existing boundary walls at the kindergarten end. The permissions also include for alteration to the below-ground rain water drain pipes of the School and the Hall to divert rain water run off to on-site biodiversity aquatic ponds.

As part of the planning conditions, Erect Architecture obtained approval of details from Islington Planning in 2024 regarding (a) tree planting and (b) various details of the landscaping and boundary wall, including new gates. Erect Architecture’s detailed work on the boundary wall was carried out in collaboration with Connisbee Structural Engineers. During the academic 2024–2025 year, a wide range of improvements were completed across the school to enhance safety, functionality, and the overall learning environment:

Plumbing: A booster pump was installed to the below-ground water tank to support the continued growth of the school and to ensure adequate water pressure for the upper classrooms. In addition, cracks in the inspection chamber near the hall were repaired. As recommended in the Quinquennial Report of 2023 after a CCTV survey (in last year's report). Fire Safety: Faulty emergency lights were identified and replaced to maintain compliance and ensure safe evacuation routes.

Kindergarten Garden: Significant improvements were made to the KG Garden area. The alley used by KG parents was repaved and widened, and the large stones previously lining the path were removed to increase safety. Paving within the garden was expanded, fairy lights were added, and the fob access system was extended to include the KG garden door.

General Outside Spaces Work: Several outdoor enhancements took place, including the planting of new trees and the installation of new gates in October 2024. In summer 2025, an additional new wooden gate was built to further improve site access and security.

Class I and II playground had some balance beams installed.

IT and Equipment: The school server was relocated from the headteacher’s office to the space beneath the stairs, providing a more suitable and secure location. A new cooker was also installed in the Chestnut Tree KG area.

Roofing: summer 2025 roof work was carried out on the south aisle parapet to maintain the building by Bakers of Danbury.

Classes: Class I and Class III received increased storage shelf space around their sink areas, while Class VII had its worktop updated.

Interior Improvements: The nave floor was repainted to refresh the appearance of the space and maintain its condition.

Increased storage in the hall kitchen for dry goods.

Warmth and Heating: Heating across the site was improved by adding extra radiators in the project space and installing an infrared heater in the staff room to increase warmth during colder months.

Security: Locks were installed on classroom doors that previously lacked them, ensuring that the school is able to enter lockdown procedures if necessary as per our policy.

Paperwork and initial investigation towards a Material Change status in the coming future.

ST PAUL'S WALDORF SCHOOL BUILDING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

In summer 2024, further emergency work on the South Side parapets revealed greater complexity than anticipated, necessitating additional defrassing. While it may not be possible to complete all the work in one phase, this project, also led by Roger Mears Architects, is ongoing. Additionally, Roger Mears Architects have been tasked with preparing a plan to bring the site as close to net zero as possible.

Erect Architecture was commissioned to produce a landscape scheme for the total site (in 2003 report), which was also a Planning Condition of the original Planning Approvals for the conversion of the church building into the school. As a result of Erect Architecture’s submissions, Planning Approval and Listed Building Consent were granted by Islington Council in December 2023 for the new landscaping and boundary wall works, and which includes timber-built openclassrooms, play structures, pond, new gates and new gate opening, and the addition of a high timber acoustic fence to existing boundary walls at the kindergarten end. The permissions also include for alteration to the below-ground rain water drain pipes of the School and the Hall to divert rain water run off to on-site biodiversity aquatic ponds. As part of the planning conditions, Erect Architecture obtained approval of details from Islington Planning in 2024 regarding (a) tree planting and (b) various details of the landscaping and boundary wall, including new gates. Erect Architecture’s detailed work on the boundary wall was carried out in collaboration with Connisbee Structural Engineers.

During the summer of 2024, the initial new landscape works were carried out under the supervision of Erect Architecture. These included the timber acoustic fence along the boundary wall at the kindergarten end and new Waldorfesquedesigned metal gates at the Marquess Road and St Paul’s Road entrances, as well as a small-scale gate for the kindergarten children at a new opening in the boundary wall onto Shuna Walk.

Development

The charity’s fundraising activity has focused on building the foundations for capital fundraising and grant applications. This includes the development of a landscaping fundraising plan and Theory of Change, and early-stage prospect research across trusts, foundations and heritage funders. Work has also progressed on digital fundraising infrastructure, including draft website content, online donation pathways and Gift Aid review. National Lottery Heritage Fund opportunities have been explored at a preparatory level, alongside development of community-based fundraising initiatives to support longer-term engagement and income generation.

We are collaborating with a professional fundraiser to secure grants and national heritage funds, as suggested by the Diocese, Erect Architecture, and Roger Mears Architects, who contributed to the Conservation Management Plan. Establishing meaningful connections with hard-to-reach audiences is essential for future grant applications. Landscape plans have already been approved by Islington planners, and feedback has been received on the master plan’s preapplication.

Financial review

The work was supported by a donation from St Paul's Waldorf School.

In total, £128,899 was invested in the hiring of professionals, as well as the repair and restoration work outlined above.

Overall the charity has a surplus of £826 (2024 - £1,114)

Policy on reserves

Until the renovation and adaption of the church is complete, the trustees of St Paul's Waldorf School Building do not expect to hold significant levels of free reserves. The project can only proceed at the rate at which funds can be generated.

The total unrestricted reserves as at 31st August 2025 is £1,340,863, of this £1,324 is designated. Free reserves available £1,339,539.

ST PAUL'S WALDORF SCHOOL BUILDING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Major risks and management of those risks

The trustees have a risk management strategy which comprises an ongoing review of the risks the charity may face; the establishment of systems and procedures to mitigate the identified risks; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. The building itself is a risk due to its age and its previous redundant condition, but keep abreast of the urgent issues which arise from the various surveys.

Trustees are aware that no tangible progress has been made with the lease of the Hall. While the Diocese is supportive and we are their preferred tenants, the vicar has not put forward a final offer. We have engaged a business lease advisor to determine a reasonable lease length and rate. Concerns remain about a potential redistribution of properties within the Diocese, which could affect the school. Despite these challenges, further improvements are ongoing and we are in continued discussions with the Diocese.

Structure, governance and management

St Paul’s Waldorf School Building is a company limited by guarantee and governed by its Memorandum and Articles of Association. It is registered as a charity with The Charity Commission.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

N Kahawatte (Resigned 31 December 2024) M Rene (Resigned 6 March 2025) R Renton S Birch (Resigned 6 March 2025) D Moore (Resigned 14 October 2025) M Dalton L Clarke J Deacon (Resigned 22 November 2024) T Silver A Telle Nakata (Appointed 3 September 2024) P De Keyser (Appointed 4 September 2025) A Bontoi (Appointed 4 September 2025)

All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Recruitment and appointment of trustees

Trustees are proposed and elected at the AGM by the St Paul’s Waldorf School Building Association members or can be co-opted by the existing trustees and then ratified at the next AGM.

New trustees

New trustees are currently required. Persons interested in becoming a trustee and have skills which may support a particular role should contact the current Chair of Trustees

ST PAUL'S WALDORF SCHOOL BUILDING

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Organisational structure

The trustees are volunteers who provide strategic leadership and accountability to the charity. They hold legal and financial responsibility and ensure compliance requirements are met. The trustees work to make the charity in its aims. The trustees work to agree priorities and monitor progress towards them.

Working as a team, the trustees give their time to support and challenge the Premises team. They aim to create robust accountability, oversight and assurance in terms of compliance and financial performance.

Induction and training of trustees

New trustees undergo an orientation session to brief them on their legal obligations under charity and company law, the content of the memorandum and articles of association, the decision-making processes, the business plan and recent financial performance of the charity. They will be given a tour of the building and an outline of current projects. Significant training in all areas of compliance continues throughout their term.

Relationships with related parties

St Paul’s Waldorf School

The charity is associated with St Paul’s Waldorf School, a charity which operates from the same address and has common trustees. This associated charity operates the St Paul’s Waldorf School within the St Paul’s Church premises and pays rent to this charity for the use of the facilities. The St Paul’s Waldorf School charity also operates within the St Paul’s Church Hall, since the St Paul’s Waldorf School Building charity took on a 10 year lease since July 2017. Previously, the School rented the Hall space on a daily basis directly from the church parish.

The Trustees report was approved by the Board of Trustees.

.............................. T Silver Trustee

Date: .............................................

ST PAUL'S WALDORF SCHOOL BUILDING

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST PAUL'S WALDORF SCHOOL BUILDING

I report to the Trustees on my examination of the financial statements of St Paul's Waldorf School Building (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the Trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving 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 this report in order to enable a proper understanding of the financial statements to be reached.

Kate Taylor FCA

For and on behalf of Simpson Wreford LLP, Chartered Accountants

Institute of Chartered Accountants in England and Wales

Wellesley House Duke of Wellington Avenue Royal Arsenal London SE18 6SS

Dated: .........................

ST PAUL'S WALDORF SCHOOL BUILDING

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Donations and legacies 3 91,000 125,000
Charitable activities 4 100,000 100,000
Investments 5 486 592
Total income 191,486 225,592
Expenditure on:
Charitable activities 6 190,660 224,478
Total expenditure 190,660 224,478
Net income and movement in funds 826 1,114
Reconciliation of funds:
Fund balances at 1 September 2024 1,340,037 1,338,923
Fund balances at 31 August 2025 1,340,863 1,340,037

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ST PAUL'S WALDORF SCHOOL BUILDING

BALANCE SHEET AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
15		 £
94,214
121,514
215,728
(34,948)		 2025
£
1,160,083
180,780
1,340,863
1,340,863
1,340,863		 £
101,312
226,284
327,596
(86,598)		 2024
£
1,099,039
240,998
1,340,037
1,340,037
1,340,037

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................

.............................. T Silver Trustee

Company registration number 02921716 (England and Wales)

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

St Paul's Waldorf School Building is a private company limited by guarantee incorporated in England and Wales. The registered office is St Paul's Church, 1 St Paul's Road, London, N1 2QH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's memorandum and articles, 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the SPCG and trustees.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Donations

Donations are recognised when the charity bas been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met.

Charitable activities

Charitable income is for the provision of space that can be rented out whilst building renovations are carried out to generate funds for the restoration.

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

Investment income

Investment income comprises of bank interest and is recognised on a receivable basis.

1.5 Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees' meetings and reimbursed expenses.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Only those fixed assets costing more than £400 are recorded as fixed assets.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings 2% straight line basis Fixtures and fittings 15% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts 91,000 125,000
Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Provision of educational facilities 100,000 100,000
Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 486 592

4 Income from charitable activities

5 Income from investments

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

6 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Provision of educational facilities
Share of support and governance costs (see note 7)
Governance
Analysis by fund
Unrestricted funds
7
Support costs allocated to activities
Governance costs
Analysed between:
Independent examiner fees
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
Depreciation of owned tangible fixed assets		 General
2025
£
22,523
36,341
130,882
189,746
914
190,660
190,660
2025
£
914
914
2025
£
914
36,341		 General
2024
£
7,619
33,950
181,829
223,398
1,080
224,478
224,478
2024
£
1,080
1,080
2024
£
1,080
33,950

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
1 1

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 Employees (Continued)
Employment costs 2025 2024
£ £
Wages and salaries 22,523 7,619

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Leasehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 September 2024
1,495,767
32,197
Additions
93,133
1,859
At 31 August 2025
1,588,900
34,056
Depreciation and impairment
At 1 September 2024
409,688
16,844
Depreciation charged in the year
31,778
4,563
At 31 August 2025
441,466
21,407
Carrying amount
At 31 August 2025
1,147,434
12,649
At 31 August 2024
1,086,079
12,960		 Total
£
1,527,964
94,992
1,622,956
426,532
36,341
462,873
1,160,083
1,099,039

Property rented to a connected charity has been accounted for using the cost model. The carrying value of this property included within tangible fixed assets is £1,147,433 (2024 - £1,086,079).

13 Debtors

Debtors
2025 2024
Amounts falling due within one year: £ £
Other debtors 94,214 101,312

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

14 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
106
9,352
428
25,062
34,948		 2024
£
106
29,905
428
56,159
86,598

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
September
2024
£
SPCG Funds
1,324
General funds
1,338,713
1,340,037
Previous year:
At 1
September
2023
£
SPCG Funds
2,538
General funds
1,336,385
1,338,923		 Incoming
resources
Resources
expended
At 31 August
2025
£
£
£
-
-
1,324
191,486
(190,660)
1,339,539
191,486
(190,660)
1,340,863
Incoming
resources
Resources
expended
At 31 August
2024
£
£
£
-
(1,324)
1,214
225,592
(223,154)
1,338,823
225,592
(224,478)
1,340,037		 Incoming
resources
Resources
expended
At 31 August
2025
£
£
£
-
-
1,324
191,486
(190,660)
1,339,539
191,486
(190,660)
1,340,863
Incoming
resources
Resources
expended
At 31 August
2024
£
£
£
-
(1,324)
1,214
225,592
(223,154)
1,338,823
225,592
(224,478)
1,340,037
1,340,037

SPCG are ring-fenced funds, raised by the parents of the School from holding events such as advent fairs. The funds are spent on what is needed by the school or building agreed mutually between the School and SPCG.

The current year expenditure represents depreciation charges in relation to expenditure on fixed assets purchased in the year to 31 August 2019.

ST PAUL'S WALDORF SCHOOL BUILDING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16 Operating lease commitments

During the year £nil (2024 £nil) was recognised as an expense in the Statement of Financial Activities in respect of the 125 year operating lease to 2120 between the charity and the Diocese.

The church hall lease expense £30,000 per annum (2024 - £30,000) is being paid and recognised in St Paul's Waldorf School charity's Financial statements, whom also occupy the premises and pay a rent to St Paul's Waldorf School Building for use of the church itself.

At the reporting end date the charity had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:

Within one year
Between two and five years
In over five years		 2025
£
31,000
93,000
89,000
213,000		 2024
£
31,000
93,000
101,000
225,000

17 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

St Paul's Waldorf School

The charity received rent of £100,000 (2024 - £100,000) and donations of £91,000 (2024 - £125,000) during the year from its associated charity, St Paul's Waldorf School.