## Calder Valley Steiner Education Ltd
Charity number 1090119
A company limited by guarantee number 04293968
## Annual Report and Financial Statements
for the year ended 31 August 2020
## Calder Valley Steiner Education Ltd
Annual Report and Financial Statements for the year ended 31 August 2020
|**Contents**|**Page**|
|---|---|
|Trustees' report|2 to 5|
|Examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the accounts|9 to 14|
**Prepared by West Yorkshire Community Accounting Service**
1
## Calder Valley Steiner Education Ltd
## Trustees' report for the year ended 31 August 2020
## **Reference and administrative details of the charity, its trustees and advisors**
The trustees during the financial year and up to and including the date the report was approved were: **Name Position Dates**
**Name Position Dates** Marilyn Edwards Secretary Richard Bunzl Rory O'Niell Resigned September 2019 Ingrid Lihou Appointed September 2019 **Charity number** 1090119 Registered in England and Wales **Company number** 04293968 Registered in England and Wales
## **Registered and principal address**
## **Bankers**
Calder Valley Steiner School National Westminster Bank Plc Church Bank Lane 2 Crown Street Cragg Vale Hebden Bridge HX7 5TF HX7 8EB
## **Independent examiner**
Helen Galvin FCCA
## **West Yorkshire Community Accounting Service**
Stringer House 34 Lupton Street Leeds LS10 2QW
## **Structure, governance and management**
The charity is a company limited by guarantee and was formed on 26 September 2001. It is governed by a memorandum and articles of association which were amended by special resolution dated 7 December 2001 and revised on 27 July 2009 for change of name and by special resolution dated 26 March 2010. The company was formally known as Hebden Bridge Steiner Education Initiative Ltd. The liability of the members in the event of the company being wound up is limited to a sum not exceeding £1.
## **Method of recruitment and appointment of trustees**
The trustees of the charity are also the directors for the purposes of company law and are appointed by the members at the AGM.
## **Objectives and activities**
## **The charity's objects**
To promote and provide for the advancement of education of the public in the teachings of the late Dr. Rudolf Steiner and in connection therewith to conduct in the United Kingdom any boarding or day school or schools for the education of children.
2
## Calder Valley Steiner Education Ltd
## Trustees' report (continued) for the year ended 31 August 2020
## **Objectives and activities (continued)**
## **The charity's main activities**
CVSE is registered to provide education for children aged 3 to 5 years. Following a major restructure of the Charity’s activities during 2019 and the closure of Calder Valley Steiner School in July, from September 2019 onwards, as well as running a Kindergarten for this age group, the Charity also continued to provide several Parent and Child Groups and a Baby Group. All of these activities are based on the principles of Steiner Waldorf education.
The Charity also holds events for parents and the wider community showcasing the work of Steiner Waldorf Schools, celebrating the seasonal festivals, as well as Steiner Waldorf education overall.
## **Public benefit statement**
In setting our objectives and planning our activities our trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of education. We work with parents and children, and through our membership of the Steiner Waldorf Schools Fellowship, are part of a world-wide educational movement.
## **Achievements and performance**
The Kindergarten was restructured this year, with changes to start and finish times, along with more flexible sessions, to enable more working parents to access our provision. Up-take of places and attendance at the Kindergarten was good for the first half of the year, and children thrive in the social and educational environment the Kindergarten provides. Parent and Child sessions, as well as the Baby Group, were also well supported by parents. These groups provided an essential point of contact and routine for many parents, giving guidance on early year’s issues, and social contact with other parents.
The Charity also took part in the world-wide celebration of 100 years of Waldorf education by holding a public event in September 2019 in Hebden Bridge Town Hall showcasing the very best of what Steiner Waldorf education has to offer.
As with other educational settings, both the Kindergarten and Parent and Child sessions were suspended in the Spring of 2020 due to the Coronavirus pandemic. Due to Local Authority restrictions, the Parent and Child Sessions and Baby Group were unable to reopen for the remainder of the school year. During the closure period, the Kindergarten staff continued to give advice and support to parents, including giving seasonal story ideas and suggestions for crafts and other activities.
During the last two weeks of the Summer term, the Kindergarten reviewed all its procedures and put in place significant control measures which enabled it to re-open. These last two weeks of term were seen as very successful and of great benefit to both children and parents.
## **Financial review**
The net expenditure for the year was £94,833 which was all on unrestricted funds.
## **Reserves policy**
The charity has no free reserves at the year end.
The reserves policy is to aim towards maintaining a level of unrestricted funds to cover three months running costs to ensure activities continue while seeking alternative funding.
3
## Calder Valley Steiner Education Ltd
## Trustees' report (continued) for the year ended 31 August 2020
## **Coronavirus impact and going concern statement**
We have reviewed our current income and expenditure. Our income is almost exclusively from the local authority via the nursery education funding. This is directly proportional to pupil numbers. Despite the pandemic, pupil numbers have remained good, and we expect that to continue through this coming year. Our core funding has also remained steady during the past year, and we expect this to continue throughout this year.
We have been supported by the government’s Coronavirus Job Retention Scheme (furlough) that has helped with on-going staff expenditure. We also expect that when this scheme is eventually wound up, the restructuring that we have done in terms of provision and staffing will enable us to continue operating on a sound basis.
We have reviewed the impact of coronavirus on our operation. While the pandemic and government restrictions have presented significant operational challenges, we have been able to plan and mitigate for these. Education for young children has also been a priority area, and we have been able to continue our core operation, and thereby maintain our principal funding stream.
The lack of financial reserves creates some material uncertainty, and is an on-going concern for the trustees, but there continues to be good and potentially increasing demand for our provision, and this comes with local authority funding.
The trustees have also secured a two year extension to the interest free loan they have against the St. John’s building. This now does not need to be repaid until 31st January, 2023. The St. John’s building has also had a recent commercial valuation which indicates that the Charity still has significant assets in the building.
The trustees have reassessed the charity’s ability to continue for at least 12 months from the date that the accounts are approved and conclude that despite the uncertainties the charity is able to continue as a going concern.
4
## Calder Valley Steiner Education Ltd
## Trustees' report (continued) for the year ended 31 August 2020
## **Statement of trustees' responsibilities**
The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Company law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
select 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;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)), and in accordance with the special provisions of the Companies Act 2006 relating to small companies.
Signed on behalf of the board of trustees:
Signed: M.A Edwards (Trustee)
Name: Marilyn Edwards
Date: 8 April 2021
5
## Calder Valley Steiner Education Ltd
## Independent examiner's report to the trustees of Calder Valley Steiner Education Ltd
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 August 2020, which are set out on pages 7 to 14.
## **Responsibilities and basis of report**
As the charity's trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the charitable 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 your charity's accounts as carried out under section 145 of the Charities Act ('the 2011 Act'). In carrying out my examination I have followed the 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 material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 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 records; or
- 3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
- 4 the accounts 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
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 accounts to be reached.
Signed: …………………………………… Name: Helen Galvin
Relevant professional qualification or body: FCCA
Date: 13 April 2021
## **West Yorkshire Community Accounting Service**
Stringer House 34 Lupton Street Leeds LS10 2QW
6
## Calder Valley Steiner Education Ltd
## Statement of Financial Activities
## (including summary income and expenditure account) for the year ended 31 August 2020
|Notes
2020
Unrestricted
funds
£
**Income from:**
Grants and donations
(2)
10
Kindergarten, nursery and school fees
4,826
School activity income
-
Fundraising
-
Gift aid
1,209
**Total income**
6,045
**Expenditure on:**
Salaries and NI
(3)
30,702
Redundancy payments
53,217
Payroll and pension expenses
162
Supply staff
47
Rent and rates
927
Fundraising expenses
-
Publications and subscriptions
90
Insurance
610
School inspection service
21
Legal and professional fees
319
Printing, photocopying and stationery
193
Educational supplies
226
Accountancy and independent examination
432
Staff training
422
Kindergarten expenses
3,304
School expenses
-
Utilities
2,015
St. John maintenance and building work
1,207
Depreciation
4,605
Donations and gifts
-
Bank charges
218
Telephone and internet
782
Staff travel
1,294
Loan interest
85
**Total expenditure**
100,878
**Net (expenditure)**
(94,833)
**Fund balances brought forward**
312,515
**Fund balances carried forward**
(4)
217,682|2020
Restricted
funds
£
28,952
-
-
-
-
28,952
24,207
-
108
32
618
-
60
407
14
212
129
151
288
-
-
-
1,343
-
-
-
-
521
862
-
28,952
-
-
-|2020
Total
funds
£
28,962
4,826
-
-
1,209
34,997
54,909
53,217
270
79
1,545
-
150
1,017
35
531
322
377
720
422
3,304
-
3,358
1,207
4,605
-
218
1,303
2,156
85
129,830
(94,833)
312,515
217,682|2019
Total
funds
£
45,480
80,186
3,127
652
-
129,445
144,039
-
492
3,772
2,423
10
97
1,127
-
1,777
599
1,512
720
1,233
4,248
3,028
3,763
1,500
4,605
354
504
1,237
737
268
178,045
(48,600)
361,115
312,515|
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
7
## Calder Valley Steiner Education Ltd
## Balance sheet
|as at 31 August 2020
2020
Unrestricted
£
**Fixed assets**
Tangible assets
(5)
334,310
**Total fixed assets**
334,310
**Current assets**
Debtors and prepayments
(6)
144
Cash at bank
(7)
8
**Total current assets**
152
**Current liabilities:**
**amounts falling due within one year**
Creditors and accruals
(8)
3,780
Deferred income
-
**Total current liabilities**
3,780
**Net current (liabilities) / assets**
(3,628)
**Total assets less current liabilities**
330,682
**Creditors: amounts falling due after one year**
(9)
113,000
**Net assets**
217,682
**Funds**
Unrestricted funds
217,682
Restricted funds
-
**Total funds**
217,682|2020
Restricted
£
-
-
469
13,152
13,621
-
13,621
13,621
-
-
-
-
-
-
-|2020
Total
£
334,310
334,310
613
13,160
13,773
3,780
13,621
17,401
(3,628)
330,682
113,000
217,682
217,682
-
217,682|2019
Total
£
338,915
338,915
-
79,071
79,071
4,910
-
4,910
74,161
413,076
100,561
312,515
312,515
-
312,515|
|---|---|---|---|
For the year ending 31 August 2020 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the year in question in accordance with section 476. The trustees (who also the directors for the purposes of company law) acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime and with FRS 102 (effective January 2019).
The financial statements were approved by the board of trustees on
Date: 8 April 2021
Signed: M.A Edwards (Trustee)
Name: Marilyn Edwards
8
## Calder Valley Steiner Education Ltd
## Notes to the accounts
for the year ended 31 August 2020
## **1 Accounting policies**
## **Basis of accounting**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
## **Going concern**
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
## **Grants and donations**
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
## **Expenditure and liabilities**
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
## **Taxation**
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
## **Tangible fixed assets**
Tangible fixed assets costing more than £5,000 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Freehold land: nil
Freehold buildings: over 50 years Fixtures and fittings: 15% straight line basis to nil Equipment: 20% straight line basis to nil
9
## Calder Valley Steiner Education Ltd
## Notes to the accounts
for the year ended 31 August 2020
## **1 Accounting policies continued**
## **Pensions**
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
## **Fund accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
10
## Calder Valley Steiner Education Ltd
## Notes to the accounts continued
## for the year ended 31 August 2020
|**2 Grants and donations**
CMBC - Children & Young People Services
HMRC - Coronavirus Job Retention Scheme
Donations
**3 Staff costs and numbers**
Gross salaries
Social security costs
Employment allowance
Pensions|2020
Unrestricted
funds
£
-
-
10
10|2020
Restricted
funds
£
27,074
1,877
-
28,952|2020
Total
funds
£
27,074
1,877
10
28,962
2020
£
53,165
1,657
(444)
531
54,909|2019
Total
funds
£
35,480
-
10,000
45,480
2019
£
138,527
6,886
(3,000)
1,626
144,039|
|---|---|---|---|---|
The average number employees during the year was 6.2, being an average of 2.4 full time equivalent (2019: 12.1, 7.5 FTE). There were no employees with emoluments above £60,000.
|**Defined contribution pension scheme**
Costs of the scheme to the charity for the year
Amount of any contributions outstanding at the year end
Amount of any contributions prepaid at the year end
**4 Restricted funds**
Balance b/f
Incoming
£
£
CMBC - Early Education Funding
-
27,074
HMRC - Coronavirus Job Retention Scheme
-
1,877
-
28,952
**Fund name**
**Purpose of restriction**|2020
£
531
-
-
Outgoing
£
27,074
1,877
28,952|2019
£
1,626
-
1,249
Balance c/f
£
-
-
-|
|---|---|---|
CMBC - Early Education Funding HMRC - Coronavirus Job Retention Scheme
For the supply of free early years provision for 2 to 4 year olds For staff who have been furloughed due to Covid-19
11
## Calder Valley Steiner Education Ltd
## Notes to the accounts continued
## for the year ended 31 August 2020
|**5 **
**6 **
**7 **
**8 **
**9 **|**Tangible assets**
**Cost**
At 1 September 2019
150,000
Additions
-
At 31 August 2020
150,000
**Depreciation**
At 1 September 2019
-
Charge for year
-
At 31 August 2020
-
**Net book value**
At 31 August 2020
150,000
At 31 August 2019
150,000
**Debtors and prepayments**
Debtors
Prepayments
**Cash at bank**
Current account
Reserve account
**Creditors and accruals**
Creditors - loan repayment
Other creditors
Accruals
**Creditors: amounts falling due after one year**
Loans
Freehold
land|£
2,284
-
2,284
2,284
-
2,284
-
-
Fixtures &
fittings|£
230,212
-
230,212
41,297
4,605
45,902
184,310
188,915
2020
£
469
144
613
2020
£
13,133
27
13,160
2020
£
2,340
720
720
3,780
2020
£
113,000
Freehold
building &
associated
costs|Total
£
382,496
-
382,496
43,581
4,605
48,186
334,310
338,915
2019
£
-
-
-
2019
£
79,044
27
79,071
2019
£
4,064
126
720
4,910
2019
£
100,561|
|---|---|---|---|---|
A loan of £100,000 is secured against the St. John’s building in Cragg Vale and a £13,000 unsecured emergency loan was provided. Both are due to be repaid by 31 January 2023 from sale proceeds of the building.
12
## Calder Valley Steiner Education Ltd
## Notes to the accounts continued
## for the year ended 31 August 2020
## **10 Trustee expenses**
No trustee received any expenses during this year or the previous year.
## **11 Trustee remuneration and benefits**
No trustee received any remuneration or benefit during this or the previous year (previous year: M Edwards was paid £250 for her role as Bursar and Music Teacher).
## **Other related party transactions**
## **Loans**
Richard Bunz, a trustee of the charity provided an interest free loan of £13,000 during the year and £114,000 in the previous year. At the year end the outstanding balance was £113,000 (previous year: £100,000).
13
## Calder Valley Steiner Education Ltd
## Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 August 2020
|2020
2019
Unrestricted Unrestricted
funds
funds
£
£
**Income**
Grants and donations
10
10,000
Kindergarten, nursery and school fees
4,826
80,186
School activity income
-
3,127
Fundraising
-
652
Gift aid
1,209
-
**Total income**
6,045
93,965
**Expenditure**
Salaries and NI
30,702
110,685
Redundancy payments
53,217
-
Payroll and pension expenses
162
492
Supply staff
47
3,192
Rent and rates
927
2,423
Fundraising expenses
-
10
Publications and subscriptions
90
85
Insurance
610
1,127
School inspection service
21
-
Legal and professional fees
319
1,777
Printing, photocopying and stationery
193
599
Educational supplies
226
1,316
Iindependent examination
432
720
Staff training
422
1,158
Kindergarten expenses
3,304
757
School expenses
-
3,028
Utilities
2,015
3,763
St. John maintenance and building work
1,207
1,500
Depreciation
4,605
4,605
Donations and gifts
-
354
Bank charges
218
504
Telephone and internet
782
1,237
Staff travel
1,294
737
Loan interest
85
268
**Total expenditure**
100,878
140,337
**Net (expenditure)**
(94,833)
(46,372)
**Transfers between funds**
-
(2,428)
**Net movement in funds**
(94,833)
(48,800)
**Fund balances brought forward**
312,315
361,115
**Fund balances carried forward**
217,482
312,315|2020
Restricted
funds
£
28,952
-
-
-
-
28,952
24,207
-
108
32
618
-
60
407
14
212
129
151
288
-
-
-
1,343
-
-
-
-
521
862
-
28,952
-
-
-
200
200|2019
Restricted
funds
£
35,480
-
-
-
-
35,480
33,354
-
-
580
-
-
12
-
-
-
-
196
-
75
3,491
-
-
-
-
-
-
-
-
-
37,708
(2,228)
2,428
200
-
200|2020
Total
funds
£
28,962
4,826
-
-
1,209
34,997
54,909
53,217
270
79
1,545
-
150
1,017
35
531
322
377
720
422
3,304
-
3,358
1,207
4,605
-
218
1,303
2,156
85
129,830
(94,833)
-
(94,833)
312,515
217,682|2019
Total
funds
£
45,480
80,186
3,127
652
-
129,445
144,039
-
492
3,772
2,423
10
97
1,127
-
1,777
599
1,512
720
1,233
4,248
3,028
3,763
1,500
4,605
354
504
1,237
737
268
178,045
(48,600)
-
(48,600)
361,115
312,515|
|---|---|---|---|---|
14