2022-08-31-accounts - Calder Valley Steiner Education Ltd

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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 2022

Group's logo

Calder Valley Steiner Education Ltd

Annual Report and Financial Statements for the year ended 31 August 2022

Contents	Page
Trustees' report	2 to 4
Examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the accounts	8 to 13

Prepared by West Yorkshire Community Accountancy Service CIO

Calder Valley Steiner Education Ltd

Trustees' report for the year ended 31 August 2022

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 Ingrid Lihou Charity number 1090119 Registered in England and Wales Company number 04293968 Registered in England and Wales

Registered and principal address

Registered and principal address Bankers Calder Valley Steiner School National Westminster Bank Plc Church Bank Lane 2 Crown Street Cragg Vale Hebden Bridge Halifax HX7 8EB HX7 5TF

Independent examiner

Alan Dodd FCCA

West Yorkshire Community Accountancy Service CIO

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.

Calder Valley Steiner Education Ltd

Trustees' report (continued) for the year ended 31 August 2022

Objectives and activities

The charity's objects

To promote and provide for the advancement of education of the public in 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.

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 actively work with parents and children, and through our membership of the Steiner Waldorf Schools Fellowship, are part of a world-wide educational movement. We organise community-building festival events, and have also offered placement and work-experience opportunities for students.

Achievements and performance

During the year, the Charity continued to run one kindergarten group as well as restarting weekly parent and child sessions. Though pupil numbers in the Kindergarten were initially low at the beginning of the year, they steadily increased as the year progressed. The Kindergarten had a full inspection by Ofsted in March 2022, receiving an overall rating of Good. The report, available on the CVSE website, highlights many very strong features within the running of the kindergarten and its support organisation. The Parent and Child sessions have been well attended, and much valued by parents. We were also able to resume seasonal festivals that were much appreciated by both parents and children.

Financial review

The net expenditure for the year was £24,839, which was all on unrestricted funds.

The trustees secured an on-going extension to the interest-free loan they have against the St. John's building. This does not need to be repaid unless the St. John's building is sold. 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 no material uncertainties exist that cast significant doubt on the charity's ability to continue as a going concern.

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.

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.

Calder Valley Steiner Education Ltd

Trustees' report (continued) for the year ended 31 August 2022

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.

approved by the board of trustees on 10/5/2023

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 2022, which are set out on pages 6 to 13.

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.

Alan Dodd FCCA

10/5/2023

West Yorkshire Community Accountancy Service CIO

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 2022

Notes 2022 Unrestricted funds £ Income from: Grants and donations (2) 3,051 Kindergarten and nursery fees 14,600 Total income 17,651 Expenditure on: Salaries and NI (3) 7,468 Redundancy payments - Payroll and pension expenses 132 Supply staff 2,080 Rent and rates 465 Fundraising expenses 6 Publications and subscriptions 263 Advertising and publicity - Insurance 1,022 Legal and professional fees - Printing, photocopying and stationery 522 Accountancy and independent examination 245 Staff training 3,510 Kindergarten expenses 1,683 Utilities 2,364 St. John maintenance and building work 13,681 Depreciation 4,605 Gifts 430 Bank charges 161 Telephone and internet 720 Staff travel 2,903 Loan interest 19 Garden 211 Website - Total expenditure 42,490 Net income / (expenditure) (24,839) Fund balances brought forward 205,361 Fund balances carried forward (4) 180,522	2022 Restricted funds £ 39,644 - 39,644 31,984 - 132 - - 6 229 - - 35 522 295 - 3,074 2,449 - - - 197 721 - - - - 39,644 - - -	2022 Total funds £ 42,695 14,600 57,295 39,452 - 264 2,080 465 12 492 - 1,022 35 1,044 540 3,510 4,757 4,813 13,681 4,605 430 358 1,441 2,903 19 211 - 82,134 (24,839) 205,361 180,522	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

All incoming resources and resources expended derive from continuing activities.

Calder Valley Steiner Education Ltd

Balance sheet

as at 31 August 2022 2022 Unrestricted £ Fixed assets Tangible assets (5) 325,100 Total fixed assets 325,100 Current assets Debtors and prepayments (6) 217 Cash at bank (545) Total current assets (328) Current liabilities: amounts falling due within one year Creditors and accruals (7) 540 Total current liabilities 540 Net current assets / (liabilities) (868) Total assets less current liabilities 324,232 Creditors: amounts falling due after one year (8) 143,710 Net assets 180,522 Funds Unrestricted funds 180,522 Restricted funds - Total funds 180,522	2022 Restricted £ - - - 15,037 15,037 15,037 15,037 - - - - - - -	2022 Total £ 325,100 325,100 217 14,492 14,709 15,577 15,577 (868) 324,232 143,710 180,522 180,522 - 180,522	2021 Total £ 329,705 329,705 - 9,232 9,232 13,576 13,576 (4,344) 325,361 120,000 205,361 205,361 - 205,361

For the year ending 31 August 2022 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 10/5/2023

Marilyn Edwards (Trustee)

Calder Valley Steiner Education Ltd

Notes to the accounts

for the year ended 31 August 2022

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 2022

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 2022

2 Grants and donations CMBC - Children and Young People Services HMRC - Coronavirus Job Retention Scheme Other donations 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions	2022 Unrestricted funds £ - - 3,051 3,051	2022 Restricted funds £ 39,451 193 - 39,644	2022 Total funds £ 39,451 193 3,051 42,695 2022 £ 39,018 1,258 (1,258) 434 39,452	2021 Total funds £ 52,235 3,291 254 55,780 2021 £ 39,677 1,060 (1,060) 385 40,062

The average number of employees during the year was 4.2, being an average of 2.4 full time equivalent (2021: 4.8, 2.4 FTE). There were no employees with emoluments above £60,000.

Defined contribution pension scheme Costs of the scheme to the charity for the year 4 Restricted funds Balance b/f £ CMBC - Early Education Funding - HMRC - Job Retention Scheme - -	Incoming £ 39,451 193 39,644	Outgoing £ 39,451 193 39,644	2022 £ 434 Transfers £ - - -	2021 £ 385 Balance c/f £ - - -

Fund name

CMBC - Early Education Funding HMRC - Job Retention Scheme

Purpose of restriction

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 2022

5 6 7	Tangible assets Cost At 1 September 2021 Additions At 31 August 2022 Depreciation At 1 September 2021 Charge for year At 31 August 2022 Net book value At 31 August 2022 At 31 August 2021 Debtors and prepayments Prepayments Creditors and accruals Bank loans and overdrafts Creditors Accruals Deferred income (see note below for analysis)	£ 150,000 - 150,000 - - - 150,000 150,000 Freehold land	£ 2,284 - 2,284 2,284 - 2,284 - - Fixtures & fittings	£ 230,212 - 230,212 50,507 4,605 55,112 175,100 179,705 2022 £ 217 217 2022 £ - - 540 15,037 15,577 Freehold building & i t d	Total £ 382,496 - 382,496 52,791 4,605 57,396 325,100 329,705 2021 £ - - 2021 £ 997 860 540 11,179 13,576

Deferred income is funding received from Calderdale Council in respect of early years provision for the following academic year.

Calder Valley Steiner Education Ltd

Notes to the accounts continued

for the year ended 31 August 2022

8 Creditors: amounts falling due after one year Loans	2022 £ 143,710 143,710	2021 £ 120,000 120,000

Security over assets

A loan of £100,000 is secured against the St. John’s building in Cragg Vale. Additional loans totalling £43,710 are unsecured.

9 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.

Remuneration and benefits received by key management personnel

The total employee benefits received by key management personnel were £12,468 (previous year: £12,473).

Other transactions with trustees or related parties Ingrid Lihou Trustee Services as a supply teacher Name of trustee or related party Relationship to charity Description of transaction	2022 £ 1,200 1,200	2021 £ 607 607

Richard Bunzl, a trustee of the charity provided interest free loans of £23,710 during the year and £7,000 in the previous year. At the year end the outstanding balance was £143,710 (previous year: £120,000).

Donations received

Donations without conditions amounting to £3,022 were received from trustees and related parties.

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 2022

2022 2021 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 3,051 254 Kindergarten and nursery fees 14,600 1,542 Total income 17,651 1,796 Expenditure Salaries and NI 7,468 6,520 Redundancy payments - 330 Payroll and pension expenses 132 282 Supply staff 2,080 928 Rent and rates 465 62 Fundraising expenses 6 - Publications and subscriptions 263 12 Advertising and publicity - 3 Insurance 1,022 259 Legal and professional fees - 17 Printing, photocopying and stationery 522 118 Accountancy and independent exam 245 135 Staff training 3,510 1,038 Kindergarten expenses 1,683 857 Utilities 2,364 840 St. John maintenance and building w 13,681 264 Depreciation 4,605 1,151 Gifts 430 118 Bank charges 161 145 Telephone and internet 720 310 Staff travel 2,903 566 Loan interest 19 12 Garden 211 70 Website - 80 Total expenditure 42,490 14,117 Net income / (expenditure) (24,839) (12,321) Fund balances brought forward 205,361 217,682 Fund balances carried forward 180,522 205,361	2022 Restricted funds £ 39,644 - 39,644 31,984 - 132 - - 6 229 - - 35 522 295 - 3,074 2,449 - - - 197 721 - - - - 39,644 - - -	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 - - -	2022 Total funds £ 42,695 14,600 57,295 39,452 - 264 2,080 465 12 492 - 1,022 35 1,044 540 3,510 4,757 4,813 13,681 4,605 430 358 1,441 2,903 19 211 - 82,134 (24,839) 205,361 180,522	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