COMPANY REGISTRATION NUMBER: 04364394 CHARITY REGISTRATION NUMBER: 1094960 The St Michael Steiner School Limited Company Limited by Guarantee Financial Statements 31 July 2025
The St Michael Steiner School Limited Company Limited by Guarantee Financial Statements Year ended 31 July 2025 Page Trustees, annual report {incorporating the director's report) Independent auditovs report to the members Statement of financial activilies (including income and expenditure account) 13 Statement of financial position 14 Statement of cash flows 15 Notes to the financial statements 16
The St Michael Steiner School Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 July 2025 The Iruslees, who are also the directors for the purpose5 of company law, present their report and the financial slalemenls of the charity for the year ended 31 July 2025. Rèferen¢e and adminlstrative detai15 Registered charity name The St Michael Steiner School Limited Chartty reglstratlon number 1094960 Company registration number 04364394 Prlnclpal offlce and registered Paik Road office Fellham England TVV13 6PN The trustees Mr S Saar Mr A L M Norsworthy Ms Hascoel Dr C P Beugelink Mr E Poslle Mrs N Kelly Miss E M R Fortini IResigned 14 January 20261 IResigned 21 January 20261 (Appointed 2 July 20251 (Appointed 5 November 20251 Auditor Burgess Hodgson Audit Limited Chartered a¢¢ounlanls & slalulory auditor Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN Bankers The Co-operative Bank pl 91 George Street Croydon Greater London CR01L
The St Michael Steiner School Limited Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) ftonllnuedj Year ended 31 July 2025 structure* governance and management The Trustees lall ol whom are also directors of the charity for the purposes of the Companies Acll present their annual report together with the audited financial slalemenls of The Sl Michael Steiner School Ilhe charilyl lor the year ended 31 July 2025. The TrLJslees confirm that the annual report and financial slalemenls of the charity wmpSy with the current statutory qUIrements, the requirements of the Charity's governing docum&nl and the provisions of the Statement of Recommended Praclice ISORPI "AccounlirTrg alld Reporting by Charitie5" Constitution The Sl Michael Steiner School Limited was incorporated as a company limited by guarantee on 31 January 2002, and is governed by ils Memorandum and Articles of Association. The school is also a registered educational charity in accordance wilh the provisions of the Charities A¢1 2011. The principal object of the Charity is lo provide education for childTen, based on indications gwen by Rudolf Steiner. The has been no change in th& principal activity since the prior year. Method of appointment or election of trustèes The Board may, from limè lo lime appoint any person as a member of the Board either lo fill a vacancy, or by way of addition lo the Board, subject lo the provisions of the Articles ol Association. Any member so appointed shall retain office only until the next Annual General Meeting, bul they shall remain eligible for re-election al the Annual General Meeting. Each year, one third of the members of the Board retire by rolalion but aTe eligible for re-election. Trustees are appointed at a meeting of the School Association on Ihe basis of nominations received from Association members a¢¢ording lo the procedure for nominations. The school, as a registered Gharily, is required lo have al least three trustees who are legally responsible to ensure that the school operates in accordance with ils Articles of Association, charity law, employment law, financial obligations and the guidelines ol the Steiner Waldorf Schools Fellowship ISWSFI and the Independent Schools Association (ISAI. In addition, trustees musl have an understanding of and an interest in Steiner education and, in particular. a willingness lo support our School in its present and future development. Policies adopted for the induction and training of trustees New Trustee5 are given copies of our Articles of Association, the Charity Commission's 'Responsibililies of Trustees,, the Independent Schools Standards IISSI, the school's most recent Ofsledllndependent Schools Inspeclorale IISII report. Staff and Parent Handbooks. the school prospectus and a seleclion of past and current school newslellers. In addition, new Iruslees are inducted into the workings of the school through meetings with the College and School Association. The sGhool's Trustees are covered by the Trustee Liability Insurance. Organisational structure and declsion making We aim to have a balance of men and women among our Trustees and seek those who are mature in life experience and who have skills that would complement those of the existing Trustees. Our Iruslees are kept informed of the decisions made by the College and allend College meetings from lime lo lime. We enlrusl that they hold the school and ils vision in their hearts during the lime they arg
The St Michael Steiner School Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 July 2025 in service as Trustees. The Trustees meet gUlarlY with members of College and have oversight of signifi¢anl decisions and events. such as school development and fi'nancial matters. All Trustees give their lime freely and no remuneration or expenses were paid for this role in the year. No TrLJslee or person connected with a Trustee received any benefit from either means lesled bursaries or scholarships awarded lo our pupils. As the legal employers of the school, a quorum of Trustees musl also be involved in any employment matters. Where a Trustee or hislher close relative is an employee of the school in another capacity. slhe musl not be involved in any discussions or decisions regarding the employment or remuneration ol Ihal employee. A quorum of Trustees is also kept informed of staff andlor parent grievances. At least thr Trustees are not involved in any one grievan¢e so that there is always a quorLJm who may be called upon lo mediate in these cases rf necessary. A quorum of Trustees is three. School policy is proposed by the College of Teachers and ratified by the board of Trustees., the day lo day management of the school is exercised by the College of teachers and the school administrators. Rlsk management The Trustees have assessed the major risks lo which the charity is exposed, in particular those related to the opera110ns and finances ol the charity. and are satisfied that systems and procedures are in place lo miligale our exposure lo the rnajor risks. Objectives and activitie5 Policies and objectives In setting objectives and planning for aclivilies, the Trustees have had due regard lo the general guidance published by the Charity Commission relating to public benefit and in particular lo ils supplementary public benefit guidance on advancing education. on fee-charging and setting the donation ac¢8plan¢e poli¢y for the year. The mission of the school 15 to promote and provide for the advancement of education of the public in accordan with the teachings of Dr Rudolf Steiner and in particular, lo conduct a school or schools for the education of Children. Strategles for achieving objectives Steiner education in general, and our schcM)l in particular, is about the protection of childhood and an education for the future, for freedom of the individual lo be master of himself or herself and be abe lo work socially for others. The edLJ¢alion arises from a study and understanding of the human being in body, soul and spirit lo meet the academic, scKial and spiritual needs of developing young people. The cosmopolitan nature of life in London brings our school's children Into daily contact with people of many different backgrounds and nalionalilies. This makes for a vibrant and exciting s¢hool experience., the deep respect toward all human baings that is the foundation of all Waldorf eduG3lion, en¢ouraging enthusiasm lor life, and an active interest in the world. We aim lo help our children orienlale themselves towards whatever comes to meet them in lffe whilst they are still growing, as well as when they become adults. We need lo respond within our education lo the constantly changing needs of the world. in order to Greate flexiblo, socially aware creative thinkers who are ablo lo act in that world.
The St Michael Steiner School Limited Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Directorfs Report) (contlnu8d} Year ended 31 July 2025 Activities for achieving objectives Since opening in September 2001, the school has become well eslablishecl. The school moved into its premises in Hanworth Park in July 2012. Our pupil numbers during the past year were on average 134 ¢hildren in 2 kindergartens and 10 classes, catering lo children from 3 10 18 years old. We continue lo provide subject lessons in Spanish, Music, Art, Crafts, Gardening, Games. P.E. Eurylhmy, German, Handwork and Religion. Pupils have benefitled during this period from educ2tional trips within the UK and Europe. osl teaching staff are fully trained Steiner Waldorf teachers. We had one child wh an Education Hfjallh and Care Plan in the year under consideration. There are a number of other children who require some support, but we are able lo meet their needs within the nomi81 Classes and curriculum. Realising that growth in the early years is essential for the future stability of the school, the school nlinues to run four well allended 'Parenl & Child, groups each week. Ouring this accounting period the school has continued to invest in its bursary and lee SLJPPOrt schemes, allowing those on lower incomes to access the education that the school provides. We offer dis¢ounls lo people whose children would h8ve lo leave the school if they had to pay the full fee. Financially, this makes sense as the classes are not full and subsidised places still bring in some revenue. We would like lo further develop this fee assistance in order lo maintain a diverse school community, bul al the moment we are not able lo support all families as mu¢h as we would like to. Parents Continued actively fLJndraising, organising school fairs in the summer and al Advent. as well as giving freely of their lime lor bake sales, car boot sales, some maintenance of the buildin9, gardening, marketing and outreach work in the community. The school has not only providod the accommodation bul also the organisalional and educational inputs for an eighth annual sumrner teachers, conference for Waldorf teachers, as well as a number of CPD Courses during this period. Participants were praclising and trainee teachers from acTDSS the UK and beyond, members of the school's parenl body, and local residents. Bursary policy This year Ihe value of means tested bursaries lolalled £69,428 {£71,182 in 2024) and represented 5.3,/ 16.0°/o in 2D241 of our gross lees. They provided assistance lo 11 110 in 20241 of Dur pupils. We a aiming lo bring our accounts to 5urplu5 by increasing pupil numbers which would also allow a higher bursary fund to serve families of any backgrounds. The Trustees view our bursary awards as important to help children from families who would othenlSe not be able lo afford the fees lo a¢¢ess the edu¢alion we offer. All families in our school are considered for our bursary awards, which are made solely on the basis of parental means or to Telieve hardship where a pupil's education and future prospects would othenlSe be al risk, for example in the case of redundancy. In assessing means we lake a number of factors into consideration including family income, investments and savings and family ¢ir¢umslan¢es, for example dependent relatives and the number of siblings, Howev6r, our s¢hool does not have a laige endowment and in funding our awards we have lo be mindful that we musl ensure a balance between fee-paying parents, many of whom make considerable personal sacrifices lo fund their child's education, and those benefiting from the awards. Information about fee assistan¢e through bursaries is provided lo all pupils of the school. To underline the value, we place on continuity for families, we offer discounts where parents have
The St Michael Steiner School Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (coniinuedj Year ended 31 July 2025 more than one child al the school. Golng concem After making appropriate enquiries, the Trustées have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. For thi5 reason, they continue lo adopt the going concem basis in preparing the financial stalemenls. The basis for the assumption is that the school plans lo have, as 8 minimum, a balan¢ed budget for the 2025-26 year and Continue lo seek early payrnent of school fees and additional donations where possible. Financial review The slalemenl of financial activities sel out on page 14 of these financial statements show how the School's incoming resources have been expended in the year ended 31 July 2025. Incoming resources amounted lo £1,437,276 {2025." £1.326,7231. The majority of income was made up ol fees and donations. Resouices expended amounted to £1,402,792 12024.. £1,350.4991. which. save for costs incurred in the management and adminislralion of the School, were ulilised in pursuance of the principal activity referred to above. An analysis of resources expended is provided in notes 10 to 18 of these financial statements. The net profit lor the period was £34,48412024'. loss of £23,776). The balance sheet sel out on page 15 of these financial slalemenls show the financial position of the School as al 31 July 2025, and as al this dale, there were lolal nel assets of £90,95112D24." £56,467>. Current assets are represented by deblDTS of £103,59312024'. £167,185}. Cash at bank and in hand amounted lo £207,048 {2024, £414,422). Reserves policy The Charity aims lo keep reserves al a level that ¢an ¢over al least three months, expenditure. The Trustees are aware that this policy is not Current being satisfied. Principal funding The Charily's principal funding remains lo be that of school fees. Future developments 11 The school's aim continues to be the increase of Earfy Years (Age 3-6 years) schooling and pupil numbers in the classrooms (Ages 7-18 years}. We offer the Certificate ol Steiner Education ICSEI in our Upper School in order lo provide a broad and innovative Steiner education lo our pupils from age 15 and aCsS ID universities. Our Class 12 pupils have successfully applieLI lo and been offered plaS by universities on the basis of their CSE rosulls. 21 We have been al Hanworth Paik for 11 years and have developed some parts of the site.. six years ago. we invested in the redevelopment of our collage which houses one of our kindergartens.. we also invested in a wooden building for the Parent and Child groups and we bought three portacabins for storage, a library and a staff room. This increased Ihe number of ¢lassrooms inside the main building lo accommodate single slrearn classes from Class 1 to Class 8 for the first lime in the sehool's history. Our advertising and Open days are aimed al filling the classes al the lower end of the school, since this is the healthiest w2y to increase pupil numbers in the longer term.
The St Michael Steiner School Limited Company Limited by Guarantee Trustees, Annual Report Ilncorporating the Director's Report} (coniinuedj Year ended 31 July 2025 31 We strive lo provide this education for all by working out financial models to support our plans. We offer sub51anlial sibling discounts so that large families can more easily afford lo come lo the school. We aim lo continue ID provide financial help for those who 8re in need of il and we Continue to inspire more fortunate families lo support us according lo their means. Tru5tees' responsibilities statement The Iruslees, who are also diroclors for the purposes of company law, aTe responsible foi preparing the Iruslees, report and the financial statements in accordance with applicable law and United Kingdom Accoullling Standards (United Kingdorn Generalty Accepted Accounting Praclicel. Company law requires the charity trusleos lo prepa financi81 slalemenls for each year which give a true and lair view of the slate of affairs of the charitable company and the incoming resources and application of reSoUrs, including the income and expenditure, for that period. In preparing these financial stalemenls, the Iruslees are required to.. select suitable accounting policies and then apply them consistently.. obsetve the methods and principles in the applicable Ch8rtties SORP., make judgments and accounting estimates that are reasonable and prudent; prepare the financial slalemenls on the going concom basis unless il is inappropriate lo presume that the charity will ¢onlinue in business. The Iruslees are iesponsible for keeping adequate accounting records that aTe sufficient lo show and explain the charity's transactions and disclose with reasonable ac¢ura¢y al any lime Ihe financial position of Ihfy ¢harily and enabl¢ them lo ensure that the financial slalemenls Gomply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Aud5tor Each of the persons who is a trustee al the dale of approval of this report Confirms that.. so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware., and they have taken all steps that they ought lo have taken as a Irusle6 lo make theMse6S aware of any relevant audit infomalion and lo estsblish that the charity's auditor is aware of that infoTmalion. The audilor is deemed lo have been re-appointed in accordance with section 487 of the Companies Act 2006.
The St Michael Steiner School Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the DTrector's Report) (conllnupdj Year ended 31 July 2025 Small compariy provisions This report has been prepared in accordan¢e with the provisions appli¢able lo companies entitled to the small companies 6xemplion. The trustees. annual report was approved on Iruglees by: 21 March 2028 and signed on behalf of the board of Mr E Posua Truste8
The St Michael Steiner School Limited Company Limited by Guarantee Independent Auditor's Report to the Members of The St Michael Steiner School Limited Year ended 31 July 2025 Oplnlon We have audited the financial slalements of The St Michael Steiner School Limited Ilhe 'charily'} for the year ended 31 July 2025 which comprise the slalemenl of financial activities {in¢luding income and expenditure accounll, sialemenl of financial position, slalemenl of cash flows and the related notes, including a summary of signifi¢3nl accounting policies. The financial reporting framework Ihal has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi}. In our opinion the financial slalemenls.. give a true and fair view of the sl8le of the charity's affairs as al 31 July 2025 and of ils incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been property prepared in accordance with United Kingdom Generally Accepted Accounting Pr8Gti¢e', have been prepared in a¢cordan¢e with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the audilorfs responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK. inclLJding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffi'cient and appropriate lo provide a basi5 for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Iru51ees' use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charity's abilrty to continue as a going conrn for a period of al least twelve months from when the financial slalements are aulhorised for issue. OUT responsibilities and the responsibilities of the trustees wrth respect to going concern are described in the relevant sections of this report.
The St Michael Steiner School Limited Company Limited by Guarantee Independent Auditor's Report to the Members of The St Michael Stesner School Limited (conllnuedj Year ended 31 July 2025 Other infom)ation The other information comprises the information included in the annual report, other than the financial slalemenls and our auditor's report Ihereon. The Iruslees are responsible for the other information. Our opinion on the financial slalemenls does not cover the other information and, except lo the exlenl otherwise expliGilly staled in oui report. we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial slalèmenls, our iesponsibilily is lo lead the othèr information and, in doing so, Consider whether the olhei information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the audit or otherwise appears lo be material misslaled. If we identify such material inconsistencies or apparent material misstatements, we are required lo determine whether there is a material misslalemenl in the financial stslements or a material misslalemenl of the other information. If, based on the work we have performed, we conclude that there is a m8lerial misslatemenl of this other information. we are required lo report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, basod on the work undertaken in the course of the audit.. the information given in the Iruslees. report for the financial year for which the financial statements are prepared is consistent with the financial slalemenls,. and the Iruslees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In th$ light of the knowledge and understanding of the charity and ils environment obtained in the couise ol the audit, we have not identified maleTial misslatemenls in the trustees, report. We have nothing lo report in respect of the following mallers in relalKJn lo which the Companies Act 2006 requires us lo report lo you if, in our opinion". adequate accounting records have not been kept, or returns adequate for our audit have nol been ceIVed from branches not visited by us.. or the financial slalemenls are not in agreement with the accounting records and returns.. or certain disclosures of trusteès. remuneration specifièd by law are not mad$,' or we have not received all the information and explanations we require for our audit., or the Iruslees were not entitled to prepare the financial statements in aordanCe with the small companies regime and lake advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report.
The St Michael Steiner School Limited Company Limited by Guarantee Independent Auditor's Report to the Members of The St Michael Steiner School Limited (¢onllJJugdJ Year ended 31 July 2025 Responsibllltles of trustees As explained more fully in the trustees. responsibilities slalemenl, the Iruslees (who are also the direclors for the purposes of company lawl are responsible for the preparation of Ihe financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due lo fraud or error. In preparing the financial slalemenls, the Iruslees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, mallers related to going concern and using th& going concem basis ol accounting unless the Iruslees either intend lo liquidate the charity or to cease operations. or have no realistic alternative bul to do so. Auditorfs responsibilities for the audit of the financial statements Our objedives are to obtain reasonable assurance about whether the financia1 statements as a whole a free from material misslalemenl, whelher due lo fraud or eiror, and lo issue an auditor's report that includes OUT opinion. Reasonable assurance is a high level of assurance, bul is not a guaranlee that an audit conducted in accordance with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo Influen the economic decisions of users taken on the basis of these fin8ncial slalemenls. Irregularities, including fraud, are instances ol non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, ID detect material misslalements in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fiaud is detailed below". We identify and assess the rigks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive lo those risks. including obtaining audit evidence that is sufficient and appiopiiale lo provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. we have Considered., the nature of the industry, control environment. We also consider the results of our enquiries of management, relating lo Iheii own idenlificalion and assessment of the risks of irregularities and possible related fraud This includes reviewing available documentation on their policies and procedures and performing tests of ¢onlrols to eviden¢e their effectiveness. Throughout the audit lesling we are considering the incentives that may exist within the organisalion for fraud. Key areas include liming of re¢ognising in¢ome around the year end, posting of unusual journ81s. In common with all aLJdils under ISAS IUK), we are also required to perform specific prCeduS lo respond to the risk of management override. We ensure we have an understanding of the relevant laws and regulations and remain alert lo possible non-compliance IhroughoLJI the audit. Despite proper planning and audit work in accordance with auditing standards there are inherent limitations and unavoidable risk that we may not delecl some irregularities and material rnisslalemenls in the linan¢ial slalements. We are not responsible for preventing non-compliance and cannot be expected lo delecl non-compliance with all laws and regulations. 10
The St Michael Steiner School Limited Company Limited by Guarantee Independent Auditor's Report to the Members of The St Michael Steiner School Limited (¢ontlnued} Year ended 31 July 2025 As part of an audit in accordance with ISAS IUKI, we exercise professional judgment and maintain professional sceplicism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financial slalemenls. whether due lo fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. The risk of not delecling a material misslalemenl resulting from fiaud is higher than for one resulting from error, a5 fraud may involve collusion, forgery. intentional omissions, misrepresenlalions, or the override of internal control. Obtain an understanding of internal eonlrol relevant to the audit in order to design audit procedures that are appropriate in the cir¢umslan¢es, bul not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the Iruslees, use of the going concern basis of ac¢ounling and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or Conditions Ihal may cast significant doubl on the charity's ability to continue as a going concern. If we conclude that a material unrtainlY exists, we are required lo draw attention in our auditor's report lo the ielaled disclosure5 in the financial statements or, if such disclosures are Inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale ol our auditor's report. However, future events or conditions may cause the charity lo cease to continue as a going concern. Evaluate the overall presenlalion, Structure and content of the financial slalemenls, including the disclosures, and whether the financial slalemonls represent the underlying transactions and events in a manner that achVe5 fair presentation. 11
The St Michael Steiner School Limited Company Limited by Guarantee Independent Auditor's Report lo the Members of The St Michael Steiner School Limited (continued) Year ended 31 July 2025 We communicate with those charged with governance regaTding, among other mallers, the planned scope and lirlling of the audit and significant audit findings, including any significant deficiencies in internal control that we idenlfy during our audit. Use of our report This report is made solely lo the charity's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies A¢1 2006. Our audit work has be&n undertaken so that w¢ might slate lo the ¢harily's members those mallers we are required to stale lo them in an audilorfs report and for no other purpose. To the fullest exlenl permilled by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work. for this report, or for the opinions we have formed. ) F(d9s- L,-A Stuart Harris Isenior Slalulory Audilorl For and on behalf of Burgess Hodgson Audit Limited Chartered accounlanls & slalulory auditor Camburgh House 27 New Dover Road Canterbury Kent CT1 3DN 31/0312ua 12
The St Michael Steiner School Limited Company Limlted by Guarantee Statement of Financial Activities (Including income and expenditure account) Year ended 31 July 2025 2025 n$t[leted funds Total fun(Is Total funds 2024 Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment income Other income 49,416 1,346.627 30.444 6,907 3.882 49,416 1,346,627 30,444 6,907 3,882 64,983 1,246,693 14.536 511 Total income 1,437.276 1,437,276 1.326,723 Expenditure Expenditure on raising funds.. Costs of raising donations and lega¢ies Expenditure on charitable aclivilie8 Total expendlture 10 11.12 1,402,792 97 1,350,402 1,350,499 1,402,792 1.402,792 1,402,792 Net Sncomellexpenditurel and net movement in funds 34,484 34,484 123,7761 Reconciliation of funds Total funds brought forward Total funds carried forward 56,467 56,467 80,243 90.951 90,951 56,467 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The not88 on pages 16 to 24 form part of these flnanclal statements. 13
The St Michael Steiner School Limited Company Limited by Guarantee Statement of Financial Position 31 July 2025 2025 2024 Note Fixed assets Tangible fixed assets 19 347 3,490 Current assets Debtors Cash al bank and in hand 20 103,S93 207,048 167.185 414,422 310,641 581,607 Creditors: amounts falling due withln one year Net current liabilities 21 220.037 528,630 90.604 52,977 Total assets less current liabilities 90,951 90,951 56.467 Net assets 56,467 Funds of the charity Unreslri¢led funds 90,951 56,467 Total charity funds 24 90,951 56,467 These financial slalemenls have been prepared in accordance with the provisions applicable lo companies subject to the small companies. regime. These financial 51atemenls were approved by the board of trustees and aulhorised for issue on .2.1.Mar¢b.2Q.2F., and are signed on behalf of the board by.. Mr E Postl Trustee The notes on pages 16 to 24 form part of these flnanclal $ts1gments. 14
The St Michael Steiner School Limited Company Limited by Guarantee statement of Cash Flows Year ended 31 July 2025 2025 2024 Cash flows from opèrating activities Nel in¢omellexpendrturel 34,484 123,7761 Adjuslmenls lor.. Depreciation ol tangible fixed assets Other interest receivable and similar income 3,143 16.9071 14,383 Changes in.. Trade and other debtors Trade and other creditors 63,592 1308,5931 1214,2811 1122,076) 313,933 Cash generated from Dperalions 182,464 Inleiesl received 6,907 Nel cash lused inllfrom operating activities 1207,3741 182.464 Cash flows from invèsting activities Purchase of tangible assets Nel cash used in investing activities 11,0411 11.0411 Net Ide¢reasellln¢rease in cash and cash equlvalents Cash and cash equlvalents at beglnnlng of year Cash and ¢a$h equivalents at end of yèar 207,3741 414,422 181,423 232,999 207,048 414,422 The note8 on pages 16 to 24 form part of these flnan¢Sal statement8. 15
The St Michael Steiner School Limited Company Llmited by Guarantee Notes to the Financial Statements Year ended 31 July 2025 General information The ¢harily is a public benefit enlily and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Park Road. Fellham, England, TW13 6PN. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial RepDrting Standard applicable in the UK and the Republi¢ of Ireland,, the Stslemenl of Recommended Practi¢& applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Slgndard applicable in the UK and Republic of Iieland IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. Accountlng pollcles Basis of preparation The financial slalemenls have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment Properties measured al fair value through income or expenditure. The financial slalemenls are prepared in sleFling, whiGh is the functional currency of the enlily. Going concern After making appropriate enquiries, the Twslees have a reasonable expe¢lalion th81 the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial slatemenls. The basis for the assumption is Ihal the schoo5 plans lo have, as a minimum, a balanced budget lor the 2025-26 year and continue lo seek early p8ymenl of school fees and additional donations where possible. Judgem&nts and key sources of estlmation uncertainty The preparation of the financial statements requires management lo make judgements, eslimales and assumptions that affect the amounts reported. These estimates and judgements are continu211y reviewed and are based on experience and other factors, including expeclalions of future events that are believed lo be reasonable under the ¢ircumslan¢es. 16
The St Michael Steiner School Limited Company Limited by Guarantee Notes to the Flnanclal Statements Icontlnuerl) Year ended 31 July 2025 Accounting policies (¢onllnuodl Fund accounting General lunds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designed for other purposes. Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular purposes. The aim and use of each desi9nated fund is sel oul in the notes lo the financial stalemenls. Reslri¢led funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes lo the financial slalemenls. Investment income is allocated lo the appropriate fund. Incoming resources All in¢oming resour¢es are included in the slalemenl ol financial aclivilies when enlillemenl has passed lo the charity., il is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measLJred. Income lax re¢overable in relation lo donations received under gift aid or deeds of covenant is recognised al the lime of the donation. Resources expandèd Expenditure Is recognised on an accruals basis as a liability is incurred. ExpendilLJre includes any VAT which cannot be fully recovered, and is classified under headings of the slalemenl of financial aclivilies to which il relates.. expenditure on raising fLJnds includes the costs of all fundraising a¢livilies, events, non-¢harilable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of ils beneficiarie5, including those support costs and costs relating to the governance of the charity apportioned to charitable aclivilies. other expenditu includes all expenditure that is neither related lo raising funds for Ihe charity nor part of its &xpendilure on charitable a¢livilies. All ¢osts are allo¢aled lo expenditure categories reflecting the use of the resource. Direct costs allribul8ble to a single activity are allocaleLI directly lo that aclivily. Shared c051s are apportioned between the activities they Contribute lo on a reasonable, justifiable and consislenl basis. Opèrating leases Lease payments are recognised as an expense over the lease term on a slraighl-line basis. The aggregate benefit of lease incentives is rs¢ognised as a reduclion to expense over the lease term, on a slr8ight-line basis. 17
The St Michael Steiner School Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 July 2025 Accounting policies (conllnuèd) Tangible assets Tangible assèts are initially recorded al cost, and subsequently slated at cost less any accumulated depreciation and impairment losses. Any tangible assets Carried al revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclation Depreciation is ¢al¢ulaled so as lo write off the cost or valualK)n of an asset, less ils residual value, over the usefu1 economic life of that asset as follows.. Leasehold improvements Fixtures and littings over the lease term 3 year slraighl line Impairment of fixed assets A review for indicators ol impairment is Carried out al each reporting dale, with the recoverable amount being eslimaled where such indicators exisl. Where thè carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are a150 reviewed for possible reversal al each reporting dale. Flnancial Instruments A financial asset or a financial liabilily is recognised only when the entity becomes a party lo the ¢onlra¢lual provisions of the inslrumenl. Basic financial instruments are initially recognlsed al the amount receivable or payable including any related transaction costs, unless the arrangement conslitules a financing transaction, where il is recognised al the present value of the future paymenls discounted al a marf(el rale of interest lor a similar debt instrument. Current assets and current liabilities are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured 81 amtsrtl8ed cost. Defined contribution plans Contributions lo defined contribution plans are recognised as an expense in the peTiod in which the related service is provided. Prepaid contributions are recognised as an asset lo the exlenl that the prepayment will lead lo a reduction in future payments or a cash refund. When Contributions are not expeded lo be 5ellled wholly within 12 months of the end of the reporting dale in which the employees Tender the Telaled service, the liability 15 measured on 8 discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which rt arises. 18
The St Michael Steiner School Limited Company Limited by Guarantee Notes to the Financlal Statements (contlnued? Year ended 31 July 2025 LSmited by guarantee The company is a company limited by guarantee. The members of the Company are the Trustees named on page 1. In the event ol the Charity being wound up, the liability in respect of the guarantee is limited lo £1 per member of the charity. Donations and legacies Unreslricled Funds Reslricled Total Funds Funds 2025 Donations Donations 11,467 11,467 Grants Grants receThiable 37,949 37,949 49,416 49.416 Unreslri¢led Funds Restrted Total Funds Funds 2024 Donatlons Donations 26,859 26,659 Grants Granls receivable 33,067 5.257 38,324 59,726 5,257 64,983 Charitable activities Unrestricted Total Funds Unreslricled Total Funds Funds 2025 Funds 2024 Fees Registration fees After school care Parent & child School outing Ronlal in¢om$ 1,310,846 1,846 26,616 4,973 2,096 250 1,310,846 1,846 26,616 4,973 2,096 250 1,182,410 2.900 42.920 3,643 14.820 1.182,410 2,900 42,920 3,643 14,820 1,346,827 1,348,627 1,246,693 1.246,693 other trading activities Unreslricled Total Funds Unreslricled Total Funds Funds 2025 Funds 2024 Fundraising 30,444 30,444 14.536 14,536 19
The St Michael Steiner School Limited Company Llmlted by Guarantee Notes to the Financial Statements {¢onlinued) Year ended 31 July 2025 Investment income Unreslricled Total Funds unstrICted Total Funds Funds 2025 Funds 2024 Bank interest receDiable 6,907 6,907 other income Unreslricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Sundry income 3,882 3,882 511 511 10. Costs of raising donation5 and legacies Unreslricled Total Funds Unreslricled Total Funds Funds 2025 Funds 2024 Costs of raising donations and legacies- Donations 97 97 11. Expenditure on charitable activities by fund type Unreslri¢led Funds Reslri¢led Total Funds Funds 202S Charitable aclwilies Support costs 1,278,290 124,502 1,278,290 124.502 1,402,792 1,402,792 Unreslricled Funds Reslricled Total Funds Funds 2024 Charitable aclwrties Support costs 1.196,520 148.625 5.257 1.201,777 148,625 1.345,145 5,257 1.350,402 12. Expendlture on charltable activitles by actlvlty type Aclivilies undertaken directly Support Total funds costs 2025 Total fund 2024 Charitable activities Governance costs 1.278,290 114,997 9,505 1,393,287 9.505 1,402,792 1.342,510 7,892 1,278,290 124,502 1.350,402 20
The St Michael Steiner School Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year endèd 31 July 2025 13. Analysis of support costs Support costs Total 2025 Total 2024 Staff costs Premises Communications and IT General office Finance costs other Costs 1,433 20,432 6,600 6,800 535 10,170 1,433 20,432 6,600 6,800 535 10,170 72,833 22,510 9,363 13,661 852 21,514 45,970 45,970 140,733 14. Taxation The Sl Michael Steiner School is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore meets the definition ol a ¢hariiable ¢ompany for UK ¢orporalion lax purposes. Accordingly, the charity is potentially ex&mpl from laxalion in Spect of income or capital gains received within the ¢8legories covered by Chapter 3 Part 11 Corporation Tax A¢1 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the exlenl that such income or gains are applied exclusively to charitable purposes. 15. Net incomÈllèxpÈndifurel Net incomellexpendiluTel is slated after chargingllcredilingl.. 2025 2024 Depreciation of tangible fixed assets Operating lease rentals 3.143 168,840 14,383 189,000 16. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 7,250 4,850 The Sl Michsel Steiner School pays fees of £2,00012024.. £2,000) for non audit services. 17. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employer contributions lo pension plans Other employee benefits 771,231 78,474 16,422 96 734,942 57,051 15,129 866,223 807,122 21
The St Michael Steiner School Limited Company Llmlted by Guarantee Notes to the Financial Statements (tonIinuedJ Year ended 31 July 2025 17. Staff costs {coniinLred) The average head count of employees during the year was 3312024.. 341. The average number of full-lime equivalent employees during the year is analysed as follows.. 2025 No. 2024 Teachers Adminislralion 31 32 33 34 No employee received employeo benefits of more than £60,000 during the year12024." Nill. 18. Trustee remuneration and expenses No Iruslee received remuneration or other benefits from employment with the charity OT related entity during the year. No Iruslee expenses have been incurred. 19. Tangible fixed assets Land and buildings Equipment Total Cost At 1 August 2024 and 31 July 2025 Depreciation Al 1 August 2024 Charge for the year At 31 July 2025 Carrying amount At31 July 2025 Al 31 July 2024 87,055 153,750 240.805 86,945 110 150.370 3,033 237,315 3,143 87,055 153.403 240.458 347 347 110 3,380 3,490 20. Debtors 2025 2024 Trade debtors Prepayments and accrued in¢ome Other debtors 90,072 1,201 12,320 162,408 1,179 3,598 103,593 167,185 22
The St Michael Steiner School Limited Company Limited by Guarantee Note5 to the Financial Statements IcoJ7tinued) Year ended 31 July 2025 21. Creditors-. amounts falling due within one year 2025 2024 Trade Gredilors Accruals and deferred income Social security and other taxes Other creditors 11,110 12,521 42,162 154,244 36,234 320,527 12,288 159.581 220,037 528.63Q 22. Deferred income 2025 2024 Al 1 Augusl 2024 Amount released lo in¢ome Amount deferred in year At 3q July 202S 309,840 1309,8401 1,834 18,420 118,4201 309,840 1,834 309,840 23. Penslons and other post retlrement benefits Defined contribution plans The amount recognised in incomè or expenditure as an expense in relation lo defined ¢onlribulion plans was £16,42212024'. £15,129). 24. Analysls of ¢harltable funds Unrestricted funds Al 1 August 2024 At Income Expenditure 31 July 2025 General funds 56,467 1,437,276 11,402,792) 90,951 Al 1 August 2023 Al Income Expendrture 31 July 2024 General funds 80,243 1,321,466 11,345,242} 56,467 23
The St Michael Steiner School Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2025 25. Analysis of net assets between funds Unrestricted Total Funds FLJnds 2025 Tangible fixed assets Current assols Creditors less than 1 year Net assets 347 310,641 1220,0371 90,951 347 310.641 1220,0371 90,951 Unreslricled Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 3,490 581,607 1528,6301 56,467 3,490 581,607 1528,630} 56,467 26. Analysls of changes in net debt Al At 1 Aug 2024 Cash flows 31 Jul 2025 Cash al bank and in hand 414,422 1207,3741 207,048 27. Operating lease commitments The total future minimum lease payments under non-¢an¢ellable operating leases are as follows.. 2025 2024 Not later than 1 year Later than 1 year and not later than 5 years 205,464 204,792 205.464 408,912 410,256 614,376 28. Controlling party The ¢haNly is controlled by the Iruslees. 24