Educare Small School Limited Directors, Report and Unaudited Financial Statements For the year ended 31st July 2024 Company Registration Number 3183775 Charity Registration Number 1058897
Edu¢are Small School Limited Legal and administrative information Reference and Administrative Details of the Charity, its Trustees and Advisers Directors and Trustees K Smiih E Steinthal W Steinthal W Holmes (Resigned) A Athayde J Waller (Resigned on 15 February 2025) Secretary E Steinthal Company Number 3183775 Charity Number 1058897 Headmistress Mrs. E Steinthal Registered orrice 12 Cowleaze Road Kingston upon Thames Surrey KT2 6DZ Business Address 2 Albany Park Road Kingston upon Thames SutTey KT2 5SW Reporting Accountants David Howard I Park Road Hampton Wick IQingston upon Thames Surrey KTI 4AS Bankers National Westminster Bank PIC 5 Market Place Kingyston upon Thames SUeY KTI IJX
Educare Small School Limited Contents Page Trustees, report Independent examincrfs report Statement of financial activities Balance sheet Notes to the financial statements 8- 11
Edu¢are Small School Limited Trustees, Report (Including Directors, Report) For the year ended 31 July 2024 The Trustees are pleased to present their annual report and financial statements for the year ended 31 July 2024. The financial stateinents comply with the charity's Memoranduin 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 l January 2019). Objectives and Activities The object and principal activity of the charity is to advance education by: a) The provision of a school for children between the agyes of 3 and I l inclusive- b) The provision of adult education classes and c} The provision of facilities for ihe daily care. recrealion and education of children during out-of-school hou and school holidays. d) The company enjoys rent free occupation of ihe school premises which are owned by Mrs E Steinthal, (a Director and Trustee of the school) and members of her family. The Trustees have had regard to the Charity Commission's guidance on Public Benefit and Consider the school makes a valuable contribution to the local community both as to the very low level of fees and subsidized services for both children and adults. All of which are designed to meet the wider community benefit whilst meeting the objeclives established for the charity. Achievements and Performance The twenty eighth full academic year 2023-2024 started with 32 pupils and rose over the year to 39. In July 2024, 7 children left the school, 3 making a successful transition to local secondary schools and the rest into other schools or countries. Numbers continued to be low particularly in the Early Years despite regular visits from prospective parents. Over the year actions taken to raise the school, s profile locally slowly began to show results. By the end of the year the older age group was full but the Early Years remained at 50 %. Reasons for this were mixed, more day care requirements than the school could offer, children with needs that the school could not dcliver being the main drivers. The rise and fall of pupil numbers is expected by the school and teaching groups are organised accordingly. The Leadership Team continued to successfully manage the day to day activity of the school. This team forn]s the teaching staff of the school supported by 4 teaching assistants, plus a part time music teacher, Alexander Technique teacher and Forest school Leader. In February 2024 Mrs Monika Green was appointed as a part time bursar ensuring the financial stability of the school into the future. Continued work to put in place structures to ensure sustainability left the school in a satisfactory position to start the next school year in September 2024 with 36 pupils. Financial Reviejv Due to a reduction in school numbers, nom]al fee income was reduced, The Surplus in the year on the unrestricted account this year was £5,498 (2023 £13,405) - fees were increased during this period and expenditure carefully monitored each month resulting in the school, s cash flow remaining sound. Page I
Edu¢are Small School Limited Trustees, Report (Including Directors, Report) For the year ended 31 July 2024 The Early Years Funding scheme, and the provision of an EHC Plan, to provide additional support for a pupil in the school, is shown under restricted funds for the period to 31 /7124 The Trustees are satisfied that the school should continue to gencrate surpluses from normal operations in the foreseeable future. In the 2023124 school fanCIal year fees were increased in Sept 2023, and with some cost increases the school is now operating at a small surplus. Trustees are aware that the focus in 202412025 is to increase pupil numbers and review all costs on a regular basis. In the 3-month period to October 2024 the operating perfomiance shows a surplus of approx. £12k with Income averaging £22.8k per month albeit that no direct school costs were incurred in Aug. 2024. Some heavy expenditure is expected, over the coming months on general repairs to the building and a break-even result is forecast at the end of the current financial year. The effect of the introduction of VAT to private school fees with effect from 01/0112025 will need to be assessed in the new year. Parents have been infornied, and no adverse responses were received. Unreslricted Reserves At July 31, 2024 unrestricted reserves amounted to £154,597 (2023 £149,099} It is the intention of the Trustees to operate the school so thal it will generate a small surplus each year which, built up over time. should be sufficient to meet any significanl maintenance expenditures. Cash Flow is continuously reviewed to ensure that thcrc arc always availabl¢ funds to covcr working capital nccds. cUCntIY thc school docs not nccd to havc in place any overdraft facilities due to its sound day-to-day cash resources. Plans for Future Periods The continuing population growth in the Royal Borough of Kingston puts pressure on early years and primary education places and this appears to continue to be the case for the next few years. Structure, Governance and Management The charily is constituted as a charitable company limited by guarantee and is governed by a memorandum and articles of association. School Or anization The day-to-day operations are managed by the Head teacher, Mrs. E Steinthal. Given the size of the school the Truslees meet three times a year with additional meetings as circumstances dictate. At these meetings all aspects of the school's perforniance are discussed and in particular any decisions regarding support for parents in financial difficulties are made by the Trustees. Parents and Friends of the School do give freely of their time and this is most appreciated. Since September 2010 Mrs. E Steinthal has been a volunteer rather than a salaried employee. Educare provides after school care and various extra-curricular activities for both children and adults which arc opcn to thc public. Risk Assessment The Trustees have made an annual review of the principle risks facing the school and have concluded that all for¢se¢able risks arc being handled appropriately eithcr by obtaining insuranc¢ cover for them or by ensuring that controls are in place which will mitigate their impact. Page 2
Edu¢are Small School Limited Trustees, Report (Including Directors, Report) For the year ended 31 July 2024 Directors and Trustees All the Directors of the company are also Trustees of the charity Trustees retire by rotation and new appointment5 are made by ordinary resolutions al general meelings. The directors and Trustees who served during the year are as stated below. K Smith E Steinthal W Steinthal W Holmes (Resigned) A Athayde J Waller (Resigned on 15 February 2025) Statement of Trustees res onsibilities The Trustees, who are also the directors of Educare Small School Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the company and of the surplus or deficit of the company for that year. In preparing these the directors are required to: selecl suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. stale whether applicable UK Accounting Slandards have been followed, subject to any material departures disclosed and explained in the financial stalemenls; and prepare tbe financial statements on the going concern basis unless it is inappropriate to presume that the coinpany will continue in business. The Trustees/ directors are responsible for keeping proper accounting records wbicb disclos¢ with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements coinply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In the preparation of this report the directors have taken advantage of the exemptions applicable to small companies as conferred by Part I S of the Companies Act 2006. 1010312025 The annual report was approved by the Trustees of the charity on ............................ and signed on its behalf by.. Mr. William Steinthal Trustee Date: March 2025 Page 3
Educare Small School Limited Independent Examiner's report to the directors On the unaudited financial statements of Educare Small School Limited I report on the financial statements of Educare Small School Limited for the year ended 31, July 2024 set out onpages5to 11. Respective responsibilities of the directors and examiner The Trustees (who are also the directors of the coinpany for the purposes of company law) are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under Part 16 of The Companies Act 2006, section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to- examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the General Direclions given by the Charity Commission under section 145(5)(b) of thc 2011 Act; and To state whether particular matters have come to my attention. Independent examiner's statement Since the company's gross incorne exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirni that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. l Confimi that no matters have Come to my attention in connection with the examination giving me cause to believe: (l) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act- or (2) the accounts do not accord with those accounting records; or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requireinent ihal the accounts give a 'true and fail. view which is not a matler considered as part of an independent eXnination. or (4) The accoiints have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounls in accordance with the Financial Reporting Sthndard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which altention should be drawn in Ihis report in order to enable a propel understanding of the accounts to be reachcd. Siobhan Glenister, ACA 5 The Square Bagshot Surrey GU19 SAX Dated: 10-03-2025 Page 4
Educare Small School Limited Statement of Financial Activities (including Income & Expenditure Account) For the year ended 31 July 2024 2024 2024 2024 2023 2023 2023 Note Unrestricted Restricted Total Funds Unrestricted Restricted Total Funds Income: Donations/ Fund Raising Grant income Investment income Sundry Income Income from charitable activities Fee income (Less Provisions) 4,623 4.623 36,851 3.068 8,359 8,359 12,000 1,524 36,851 12,000 3.068 1.524 251,942 251,942 273.211 273,211 After school care Provision of premises 1.8 837 30,(K)O 837 30,000 2.751 30,000 2.751 30,000 Total incoming resources 1.6 290,470 36,851 327,321 315,845 12,000 327,845 Expenditure: Expenditure on Charitable Activities TeachingF Costs 201,173 After-school care Premises 1.8 General operating expenses Governance costs 36,851 238,024 218,135 12,000 230,135 67,423 5,089 11,287 67,423 5,089 11,287 67,812 7,303 9,190 67,812 7,303 9,190 Total Expenditure 1.7 284,972 36,851 321,823 302,440 12,000 314,440 Net income for the year 5.498 5498 13.405 13,405 Reconciliation of funds Total Funds brought fonvard at l August 2023 149,099 149,099 135,694 135,694 Total Funds carried foThard at31 July 154,597 154,597 149,099 149,099 The results for the year derive from the review of continuing activities and there are no gains or losses other than thosc shown above. Page 5
Educare Small School Limited Balance Sheet As at 31st July 2024 2024 2023 Notes Fixed Assets Plant & Equipmcnt 235 2,657 Total Fixed Assets 235 2,657 Current Assets Debtois Cash at bank and in hand 10,100 192,542 8,296 192,193 202,642 200,489 Creditors: amounts falling due within one year (48,280) (54,047) Net Current Assets/(Liabilities) 154,362 146,442 Total Assets Less Current Liabilities 154,597 149,099 Capital and Reserves Restricted funds Unrestricted fund 154,597 149,099 Funds 154,597 149,099 The directors, statements required by the Companies Act 2006 are shown on the following page which fornis part of this Balance Sheet. Page 6
Educare Small School Limited Balance Sheet (continued) As at 31st July 2024 Directors, statements required by the Companies Act 2006 For the year ended 31st July 2024 In approving these financial statements as directors of the company we hereby confirm.. The company is entitled to the exemption from the audit requirement contained in section 477 of the Companics Act 2006, for the year ended 31 July 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements. The Truslees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income <d expenditure, for the financial year in accorddnce with the requirements of scctions 394 and 395 and which othcnvise comply with the rcquircmcnts of the Companies Act 2006 rclating to financial statements, so far as applicable to the company. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small coinpanies, regime. The financial statements approved by the Board and signed on its behalf by Mr. William Steinthal Trustee Date 10 March 2025 Company Registration Number 3183775 Charity Registration Number 1058897 Page 7
Educare Small School Limited Notes to the FAnancial Statements As at 31st July 2024 Accounting Policies Charity information Educarc Small School Limitcd is a privatc company limitcd by guarantcc incoorat¢d in England and Wales. The registered office is 12 Cowleaze Road, Kingston Upon Thames, Surrey, KT2 6DZ. Accounting convention Thc financial statcmcnts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019) - (Charities SORP (FRS 102). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity is a Public Benefit Enlity as defined by FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounling policy note(s). Thc Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bullctin I not to prcparc a Statcmcnt of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the Charily. Monetary amounts in these financial statemenls are rounded to the nearest £. Thc financial statcrncnts havc bccn prcparcd undcr thc historical cost convention, modificd to include Ihe revalualion of freehold properties and to include investinent properties and certain financial inslruinents at fair value. The principal accounting policies adopted are sel out below. Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources lo 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. Income Income represents the amount receivable for the provision of educational SeiceS during the year. Income from donations is received by way of donations, fundraising and gifts and is included in full in the Statement of Financial Activities when receivable. Investment income represents interest received from bank and building societies. 1.4. Pensions Teachers employed by Educare Small School Limited may be members of the Teachers Pension Scheme, administered by the Teachers Pension Agency. All other staff are included within the workplace pension scheme. li provides teachers with delined benefils upon their retiremenl, and Educare Small School Limited contributes towards the costs by making contributions based on a percentage of members, pensionable salaries. In 2023124 the charity paid £1 1.250 (202212023 £9,113). The scheme is unfunded being adminislered on a'pay as you go, basis by ihe Exchequer. Although the scheme is unfunded, the TPA uses a notional fund as a basis for calculating the employer's contribution rate paid by Educare Small School Limiled. However, it is not possible for the TPA to identify the charity's share of the underlying liabilities in the scheme attributable to their employees. Page 8
Educare Small School Limited Notes to the FAnancial Statements As at 31st July 2024 For the pUoSe of the Accounts, the scheme is therefore accounted for as a defined contribution scheme, and the liabililies are nol included within Educare Small School Limited balances. 1.5. Deferred taxation In view of the charitable status, the company has no liability for taxation. 1.6. Incoming resources Fccs paid arc reLogynized in the financial statements in the year in which the related course will take place. Donations arc recobynizcd at thc timc of reccipt. Donatcd facilities, that would nornially have to be paid for, arc rccognizcd bascd on thc valuc of thcir contribution to thc charity (scc notc 1.7). Resources expended Rcsourccs cxpcndcd arc recognizcd in thc year in which they are incurrcd. Govcrnancc costs arc thosc incurrcd in conncction with administration of the charity and compliance with constitutional and statutory requirements. 1.8. Donated facilities As stated in the Trustees, Report, the charity is provided with rent-free occupation of the school premises. The Trustees, estimated value of this benefit, of £30.000 (2023 £30,000), is based on the rental value as advised by commercial property consultants with regard to similar properties. This value is recognized in the financial stateinents within incoming resources, and an equivalcnt charge is included within premises costs. 1.9. Fixed Assets Tangiblc fixed asscts are initially mcasured at cost and subsequently measured at cost or valuation, net of depreciation and any impainnent losses. Operating Surplus Operating surplus is stated after charging.. 2024 2023 Reporting accountants fees 1,650 1,800 1.650 1,800 Employees ° 2024 2023 Employment costs Social security Other pension 151,253 7,357 11.250 157.723 10,648 9.113 169,860 177,484 The average number of employees during the year is 6. No employees are paid in excess of £50,000. Page 9
Educare Small School Limited Notes to the FAnancial Statements As at 31st July 2024 Trustees, emoluments No Truslees received remuneration or reimbursement for expenses. Pension costs Contributions are made to an approved pension provider (Teachers Pensions) under a defined contribution scheine, and (Nest) to cover the scheme under Workplace Pensions. Fixed Assets Plant Computer Total Asset Opening Balance 0110812023 Additions in the period Depreciation Charged 1,674 983 2,657 (1,674) (748) (2.422) Net asset Value 3110712024 235 235 Asset purchased in the period relates to plant and equipment only. Debtors 2024 2023 Trade debtors Bad Debt Provision Prepayments and accrued income 4,600 (784) 6,284 3,262 (1,500) 6,534 10,100 8,296 Creditors: amounts falling due ithin one year 2024 2023 Trade Creditors Paymcnts rcccivcd on account Fee and registration deposits PAYE,other taxes and social security General fund raising and nursery grants Accruals and deferred income 4,646 3,205 20,050 3,772 9,807 10,005 19,400 2,916 15,103 13,423 48,280 54,047 Page 10
Educare Small School Limited Notes to the FAnancial Statements As at 31st July 2024 Funds Unrestricted Restricted Funds Funds Total At 1st August 2024 Income Expenditure 149, 099 290,470 36,851 (284,972} (36,851) 149,099 327,321 {321,823) At 3 1st July 2024 154,597 154,597 Unrestricted funds are the balance of funds available for the general use of the charity. Sufficient funds are held, in an appropriate fomi, to enable each fund to be applied in accordance with any restrictions. Restricted funds: The restricted fund was in relalion lo the grant income received from the local authority for the provision of childcare nursery places in the school and the corresponding spending is on teaching costs. 10. Analysis of net assets between funds Unrestricted Restricted Funds Funds Total Fixed Assets Debtors Cash at bank and in hand Current liabililies 235 10,100 192,542 (48,280) 235 10,100 192.542 (48,280) 154,597 154,597 ii. Limited liability The coinpany is limited by guarantee and does noi have a share capital. Each member undertakes to contribute up to £1 in Ihe event of the company being wound up towards paymenl of debts incurred whilc hc is a mcmbcr. The requirements of the Charities Acts do not allow the distribution of a surplus on winding up to the rnembers. Any such surplus must with the authority of the Charity Commissioners be paid either to another approved registered charity or to the Charity Commission. 12. Related Party Transactions In accordance with the Charities SORP (FRS 102), there are no related paty transactions which require disclosure. Pagell