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 2023
Calder Valley Steiner Education Ltd
Annual Report and Financial Statements
for the year ended 31 August 2023
| 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 Accountancy Service CIO
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Calder Valley Steiner Education Ltd
Trustees' report for the year ended 31 August 2023
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
Charity number
Company number
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.
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Calder Valley Steiner Education Ltd
Trustees' report (continued) for the year ended 31 August 2023
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 Waldorf UK (formerly known as 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 alongside weekly parent and child sessions (which were renamed as Stay and Play in order to be as inclusive as possible). Pupil numbers in the Kindergarten were steady throughout the year. Stay and Play was well attended throughout the year and greatly appreciated. It also acts as a feeder for the kindergarten. Seasonal festivals were celebrated by children and families, and were much appreciated by both parents and children. They were also an important part of the community building work of CVSE.
Financial review
The net expenditure for the year was £24,911, all relating to 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 lender is aware that the loan has not been registered on Companies House as a Charge, and therefore may not be legally enforceable. Nevertheless, the St. John’s building has also had a commercial valuation which indicates that the Charity still has significant assets in the building.
We have reviewed our current income and expenditure. Our income is largely from the local authority via the nursery education funding. This is directly proportional to pupil numbers. Our pupil numbers have remained steady, and we expect that to continue through this coming year. However, we have recently extended the age range of children we accept to include two-year-olds. This is a major change for our organisations, and we anticipate an improvement in our financial performance as a result. Government funding for two-year-olds comes on stream in April, 2024, and comes at a higher rate than three- and four-year old funding. Accepting two-year-olds also increases the potential catchment of our provision, as well as extending the period children are likely to stay with us. As such, we expect a rise in our core funding as of April 2024.
Education for young children continues to be a priority area for the Government, and we have been able to continue our core operation, and thereby maintain our principal funding stream.
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.
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Calder Valley Steiner Education Ltd
Trustees' report (continued) for the year ended 31 August 2023
Reserves policy
The charity had 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. They are currently undertaking a major restructure through renaming the kindergarten a nursery, and admitting two-year-olds, as well as three- and four-year olds. This gives the Charity access to additional government funding, as well as increasing the catchment of children. It is hoped this change will bring greater financial stability to the operation.
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, as outlined above in relation to accessing the new two-year-old funding, and this comes with local authority funding.
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Calder Valley Steiner Education Ltd
Trustees' report (continued) for the year ended 31 August 2023
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 1/5/2024
Marilyn Edwards (Trustee)
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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 2023, 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:
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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
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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
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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
1/5/2024
West Yorkshire Community Accountancy Service CIO
Stringer House 34 Lupton Street Leeds LS10 2QW
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Calder Valley Steiner Education Ltd
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 August 2023
| Notes 2023 Unrestricted funds £ Income from: Grants and donations (2) 10 Kindergarten and nursery fees 9,326 Room hire 149 Total income 9,485 Expenditure on: Salaries and NI (3) 6,654 Payroll and pension expenses 252 Supply staff 1,812 Rent and rates 106 Fundraising expenses - Publications and subscriptions 486 Insurance - School inspection service - Legal and professional fees 53 Printing, photocopying and stationery 273 Independent examination 900 Staff training 2,331 Kindergarten expenses 4,779 Utilities 6,255 St. John maintenance and building work 1,757 Depreciation 4,605 Gifts 190 Bank charges 238 Telephone and internet 875 Staff travel 2,670 Loan interest - Garden 59 Charitable donations 101 Total expenditure 34,396 Net income / (expenditure) (24,911) Fund balances brought forward 180,522 Fund balances carried forward (4) 155,611 |
2023 Restricted funds £ 42,590 - - 42,590 36,951 126 934 - - - 941 35 - 91 - 95 883 2,100 - - - - 180 254 - - - 42,590 - - - |
2023 Total funds £ 42,600 9,326 149 52,075 43,605 378 2,746 106 - 486 941 35 53 364 900 2,426 5,662 8,355 1,757 4,605 190 238 1,055 2,924 - 59 101 76,986 (24,911) 180,522 155,611 |
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 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Calder Valley Steiner Education Ltd
Balance sheet
| as at 31 August 2023 2023 Unrestricted £ Fixed assets Tangible assets (5) 320,495 Total fixed assets 320,495 Current assets Debtors and prepayments (6) - Cash at bank and in hand 10,525 Total current assets 10,525 Current liabilities: amounts falling due within one year Creditors and accruals (7) 11,699 Total current liabilities 11,699 Net current assets / (liabilities) (1,174) Total assets less current liabilities 319,321 Creditors: amounts falling due after one year (8) 163,710 Net assets 155,611 Funds Unrestricted funds 155,611 Restricted funds - Total funds 155,611 |
2023 Restricted £ - - - - - - - - - - - - - - |
2023 Total £ 320,495 320,495 - 10,525 10,525 11,699 11,699 (1,174) 319,321 163,710 155,611 155,611 - 155,611 |
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 |
|---|---|---|---|
For the year ending 31 August 2023 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 are 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 1/5/2024
Marilyn Edwards (Trustee)
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Calder Valley Steiner Education Ltd
Notes to the accounts
for the year ended 31 August 2023
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, if 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
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Calder Valley Steiner Education Ltd
Notes to the accounts
for the year ended 31 August 2023
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.
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Calder Valley Steiner Education Ltd
Notes to the accounts continued
for the year ended 31 August 2023
| 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 |
2023 Unrestricted funds £ - - 10 10 |
2023 Restricted funds £ 42,590 - - 42,590 |
2023 Total funds £ 42,590 - 10 42,600 2023 £ 43,046 1,756 (1,756) 559 43,605 |
2022 Total funds £ 39,451 193 3,051 42,695 2022 £ 39,018 1,258 (1,258) 434 39,452 |
|---|---|---|---|---|
The average number of employees during the year was 3.9, being an average of 2.3 full time equivalent (2022: 4.2, 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 Fund - - |
Incoming £ 42,590 42,590 |
Outgoing £ 42,590 42,590 |
2023 £ 559 Transfers £ - - |
2022 £ 434 Balance c/f £ - - |
|---|---|---|---|---|
Fund name Purpose of restriction
CMBC: Early Education Fund For the supply of free early years provision for 2 to 4 year olds.
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Calder Valley Steiner Education Ltd
Notes to the accounts continued
for the year ended 31 August 2023
| 5 6 **7 ** |
Tangible assets Cost At 1 September 2022 Additions At 31 August 2023 Depreciation At 1 September 2022 Charge for year At 31 August 2023 Net book value At 31 August 2023 At 31 August 2022 Debtors and prepayments Prepayments Creditors and accruals Accruals Deferred income (see note below for analysis) Taxation and social security Other creditors |
£ 150,000 - 150,000 - - - 150,000 150,000 Freehold land |
£ 2,284 - 2,284 2,284 - 2,284 - - Fixtures & fittings |
£ 230,212 - 230,212 55,112 4,605 59,717 170,495 175,100 2023 £ - - 2023 £ 720 10,789 122 68 11,699 Freehold building & i t d |
Total £ 382,496 - 382,496 57,396 4,605 62,001 320,495 325,100 2022 £ 217 217 2022 £ 540 15,037 - - 15,577 |
|---|---|---|---|---|---|
Deferred income is funding received from Calderdale Council in respect of early years provision for the following academic year.
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Calder Valley Steiner Education Ltd
Notes to the accounts continued
for the year ended 31 August 2023
| 8 Creditors: amounts falling due after one year Loans |
2023 £ 163,710 163,710 |
2022 £ 143,710 143,710 |
|---|---|---|
Security over assets
A loan of £100,000 is secured against the St. John’s building in Cragg Vale. Additional loans totalling £63,710 are unsecured.
9 Related party transactions
Donations from trustees and related parties
The total aggregate value of unconditional donations to the charity from the trustees or related parties was £nil (2022: £3.022).
10 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 £13,283 (previous year: £12,468).
| 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 |
2023 £ 1,360 1,360 |
2022 £ 1,200 1,200 |
|---|---|---|
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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 2023
| 2023 2022 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 10 3,051 Kindergarten and nursery fees 9,326 14,600 Room hire 149 - Total income 9,485 17,651 Expenditure Salaries and NI 6,654 7,468 Payroll and pension expenses 252 132 Supply staff 1,812 2,080 Rent and rates 106 465 Fundraising expenses - 6 Publications and subscriptions 486 263 Insurance - 1,022 School inspection service - - Legal and professional fees 53 - Printing, photocopying and stationery 273 522 Independent examination 900 245 Staff training 2,331 3,510 Kindergarten expenses 4,779 1,683 Utilities 6,255 2,364 St. John maintenance and building w 1,757 13,681 Depreciation 4,605 4,605 Gifts 190 430 Bank charges 238 161 Telephone and internet 875 720 Staff travel 2,670 2,903 Loan interest - 19 Garden 59 211 Charitable donations 101 - Total expenditure 34,396 42,490 Net income / (expenditure) (24,911) (24,839) Fund balances brought forward 180,522 205,361 Fund balances carried forward 155,611 180,522 |
2023 Restricted funds £ 42,590 - - 42,590 36,951 126 934 - - - 941 35 - 91 - 95 883 2,100 - - - - 180 254 - - - 42,590 - - - |
2022 Restricted funds £ 39,644 - 39,644 31,984 132 - - 6 229 - - 35 522 295 - 3,074 2,449 - - - 197 721 - - - 39,644 - - - |
2023 Total funds £ 42,600 9,326 149 52,075 43,605 378 2,746 106 - 486 941 35 53 364 900 2,426 5,662 8,355 1,757 4,605 190 238 1,055 2,924 - 59 101 76,986 (24,911) 180,522 155,611 |
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 |
|---|---|---|---|---|
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