2021-08-31-accounts - Calder Valley Steiner Education Ltd

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

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 2021

Calder Valley Steiner Education Ltd

Annual Report and Financial Statements for the year ended 31 August 2021

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

Calder Valley Steiner Education Ltd

Trustees' report for the year ended 31 August 2021

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 Marilyn Edwards Secretary Richard Bunzl Ingrid Lihou 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.

Calder Valley Steiner Education Ltd

Trustees' report (continued) for the year ended 31 August 2021

Objectives and activities

The charity's main activities

The charity is registered to provide early years education for children up to the age of five years old.

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

During the year, we continued to run one kindergarten group. Though pupil numbers were initially low at the beginning of the year, they were excellent at the end of the year. However, due to the age restrictions of our registration, a high percentage of the children left in July at the end of the school year.

Due to the fluctuating numbers in the kindergarten and associated challenges, one member of staff remained on furlough for much of the year.

The continuing guidelines around the Covid-19 pandemic meant that the Parent and Child sessions had to remain closed. This led to the unfortunate decision, at the beginning of the year, to make a member of staff redundant, and a second member of staff chose to leave due to the uncertainty.

Future plans

As a charity we anticipate that, due to age restrictions in early years, the numbers of children in the kindergarten will continue to fluctuate. The Parent and Child sessions have not been running due to Covid-19 restrictions, and this is likely to have a short-term impact, as Parent and Child is an important feeder for the Kindergarten. This makes it difficult to provide any definitive financial budget or plan for the next academic year. However, the Trustees believe there is likely to be steady and growing demand for Kindergarten places through the coming year.

The parent and child sessions are planned to reopen in September 2021. There has been a lot of interest in these sessions and a long waiting list of potential families is in place. We will start with one group, building to two groups (if numbers dictate) after the Autumn half term break. Staff covering the sessions will be paid on a session-by-session basis until the long-term viability of the sessions is established.

Premises

We continue to look for alternative premises, however we have been unsuccessful in locating anywhere suitable.

The roof on the St John’s building needs attention and this will be a priority for next year.

The idea of renovating the large upstairs room once the roof work has been carried out and renting it out is being considered, which will bring in additional income.

Financial review

The net expenditure for the year was £12,321, which was all on unrestricted funds.

Financial pressures and difficulties continued through the year due to fluctuating numbers in the kindergarten.

Calder Valley Steiner Education Ltd

Trustees' report (continued) for the year ended 31 August 2021

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. However due to the financial difficulties faced it has not been able to meet this policy. The trustees are aware of this and are seeking ways to improve the financial position of the Charity.

Coronavirus impact and going concern statement

At the time of signing these accounts the charity has been impacted by the global Covid-19 virus and the lack of financial reserves creates some material uncertainty, and is an on-going concern for the trustees. However, there continues to be good and potentially increasing demand for our provision, and this comes with local authority funding.

The trustees have also secured an 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 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.

Calder Valley Steiner Education Ltd

Trustees' report (continued) for the year ended 31 August 2021

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 on 14/2/2022

Marilyn Edwards (Trustee)

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 2021, 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 FCCA

15/3/2022

West Yorkshire Community Accounting Service

Stringer House 34 Lupton Street Leeds LS10 2QW

Calder Valley Steiner Education Ltd

Statement of Financial Activities

(including summary income and expenditure account) for the year ended 31 August 2021

Notes 2021 Unrestricted funds £ Income from: Grants and donations (2) 254 Kindergarten and nursery fees 1,542 Gift aid - Total income 1,796 Expenditure on: Salaries and NI (3) 6,520 Redundancy payments 330 Payroll and pension expenses 282 Supply staff 928 Rent and rates 62 Fundraising expenses - Publications and subscriptions 12 Advertising and publicity 3 Insurance 259 School inspection service - Legal and professional fees 17 Printing, photocopying and stationery 118 Educational supplies - Accountancy and independent examination 135 Staff training 1,038 Kindergarten expenses 857 Utilities 840 St. John maintenance and building work 264 Depreciation 1,151 Gifts 118 Bank charges 145 Telephone and internet 310 Staff travel 566 Loan interest 12 Garden 70 Website 80 Total expenditure 14,117 Net expenditure (12,321) Fund balances brought forward 217,682 Fund balances carried forward (4) 205,361	2021 Restricted funds £ 55,526 - - 55,526 33,542 990 846 2,786 188 - 36 11 778 - 53 354 - 405 3,114 2,573 2,521 794 3,454 - - 932 1,697 - 212 240 55,526 - - -	2021 Total funds £ 55,780 1,542 - 57,322 40,062 1,320 1,128 3,714 250 - 48 14 1,037 - 70 472 - 540 4,152 3,430 3,361 1,058 4,605 118 145 1,242 2,263 12 282 320 69,643 (12,321) 217,682 205,361	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

All incoming resources and resources expended derive from continuing activities.

Calder Valley Steiner Education Ltd

Balance sheet

as at 31 August 2021 2021 Unrestricted £ Fixed assets Tangible assets (5) 329,705 Total fixed assets 329,705 Current assets Debtors and prepayments (6) - Cash at bank and in hand (7) 9,232 Total current assets 9,232 Current liabilities: amounts falling due within one year Creditors and accruals (8) 2,397 Deferred income 11,179 Total current liabilities 13,576 Net current liabilities (4,344) Total assets less current liabilities 325,361 Creditors: amounts falling due after one year (9) 120,000 Net assets 205,361 Funds Unrestricted funds 205,361 Restricted funds - Total funds 205,361	2021 Restricted £ - - - - - - - - - - - - - - -	2021 Total £ 329,705 329,705 - 9,232 9,232 2,397 11,179 13,576 (4,344) 325,361 120,000 205,361 205,361 - 205,361	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

For the year ending 31 August 2021 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 14/2/2022

Marilyn Edwards (Trustee)

Calder Valley Steiner Education Ltd

Notes to the accounts

for the year ended 31 August 2021

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

Calder Valley Steiner Education Ltd

Notes to the accounts

for the year ended 31 August 2021

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.

Calder Valley Steiner Education Ltd

Notes to the accounts continued

for the year ended 31 August 2021

2 Grants and donations 2021 2021 Unrestricted Restricted funds funds £ £ CMBC - Children & Young People Services - 52,235 HMRC - Coronavirus Job Retention Scheme - 3,291 Donations 254 - 254 55,526 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions 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 - 52,235 HMRC - Coronavirus Job Retention Scheme - 3,291 - 55,526 The average number employees during the year was 4.8 (2020: 6.2).	2021 Total funds £ 52,235 3,291 254 55,780 2021 £ 39,676 1,060 (1,060) 385 40,062 2021 £ 385 - - Outgoing £ 52,235 3,291 55,526	2020 Total funds £ 27,074 1,877 11 28,962 2020 £ 53,165 1,657 (444) 531 54,909 2020 £ 531 - - Balance c/f £ - - -

Fund name Purpose of restriction

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

Calder Valley Steiner Education Ltd

Notes to the accounts continued

for the year ended 31 August 2021

5 6 7 8 9	Tangible assets Cost At 1 September 2020 150,000 Additions - At 31 August 2021 150,000 Depreciation At 1 September 2020 - Charge for year - At 31 August 2021 - Net book value At 31 August 2021 150,000 At 31 August 2020 150,000 Debtors and prepayments Debtors Prepayments Cash at bank and in hand 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 45,902 4,605 50,507 179,705 184,310 2021 £ - - - 2021 £ 9,205 27 9,232 2021 £ 997 860 540 2,397 2021 £ 120,000 Freehold building & associated costs	Total £ 382,496 - 382,496 48,186 4,605 52,791 329,705 334,310 2020 £ 469 144 613 2020 £ 13,133 27 13,160 2020 £ 2,340 720 720 3,780 2020 £ 113,000

A loan of £100,000 is secured against the St. John’s building in Cragg Vale and a £20,000 unsecured emergency loan was provided. Both are due to be repaid by 31 January 2023 from sale proceeds of the building.

Calder Valley Steiner Education Ltd

Notes to the accounts continued

for the year ended 31 August 2021

10 Related party transactions

Trustee expenses

No trustee received any expenses during this year or the previous year.

Trustee remuneration and benefits

No trustee received any remuneration or benefit during this or the previous year.

Other related party transactions

Name of trustee or related party Legal authority Ingrid Lihou Governing document	2021 £ 607	2020 £ -

The above trustee was paid for her role as a supply teacher.

Other transactions with trustees or related parties

Loans

Richard Bunz, a trustee of the charity provided an interest free loan of £7,000 during the year and £113,000 in the previous year. At the year end the outstanding balance was £120,000 (previous year: £113,000).

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 2021

2021 2020 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 254 10 Kindergarten and nursery fees 1,542 4,826 Gift aid - 1,209 Total income 1,796 6,045 Expenditure Salaries and NI 6,520 30,702 Redundancy payments 330 53,217 Payroll and pension expenses 282 162 Supply staff 928 47 Rent and rates 62 927 Publications and subscriptions 12 90 Advertising and publicity 3 - Insurance 259 610 School inspection service - 21 Legal and professional fees 17 319 Printing, copying and stationery 118 193 Educational supplies - 226 Independent examination 135 432 Staff training 1,038 422 Kindergarten expenses 857 3,304 Utilities 840 2,015 St. John maint and building work 264 1,207 Depreciation 1,151 4,605 Gifts 118 - Bank charges 145 218 Telephone and internet 310 782 Staff travel 566 1,294 Loan interest 12 85 Garden 70 - Website 80 - Total expenditure 14,117 100,878 Net expenditure (12,321) (94,833) Fund balances brought forward 217,682 312,515 Fund balances carried forward 205,361 217,682	2021 Restricted funds £ 55,526 - - 55,526 33,542 990 846 2,786 188 36 11 778 - 53 354 - 405 3,114 2,573 2,521 794 3,454 - - 932 1,697 - 212 240 55,526 - - -	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 - - -	2021 Total funds £ 55,780 1,542 - 57,322 40,062 1,320 1,128 3,714 250 48 14 1,037 - 70 472 - 540 4,152 3,430 3,361 1,058 4,605 118 145 1,242 2,263 12 282 320 69,643 (12,321) 217,682 205,361	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