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 ab￿e 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 w￿h 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
othen￿lSe 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 othen￿lSe 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 aC￿sS ID universities. Our Class 12 pupils have successfully applieLI lo and been offered
pla￿S 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 reSoUr￿s, 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 theMse￿6S 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 con￿rn 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 a￿ordanCe 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
prC￿edu￿S 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 un￿rtainlY 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 ach￿Ve5 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
Restr￿ted 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 un￿strICted 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