Registered number: 05873616 Charity number: 1110687
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 7 |
| Independent Auditors' Report on the Financial Statements | 8 - 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15 - 28 |
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024
| Trustees | F Akhavan |
|---|---|
| A Farmanfarmaian | |
| S Bagherzadeh | |
| J S Cheetham QC | |
| M A Manzouri | |
| Company registered number 05873616 Charity registered number 1110687 Registered office 10-14 Crown Street London W3 8SB Company secretary A Farmanfarmaian Independent auditors Sopher + Co LLP Chartered Accountants & Statutory Auditors 5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD Bankers HSBC 25 Notting Hill Gate London W11 3JJ |
Page 1
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 August 2023 to 31 July 2024. The Annual Report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The primary aim of Snowflake School for Children With Autism Limited (''the Charity/School'') is to advance educational opportunities for children with diagnosis of Autistic Spectrum Disorder (ASD).
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The most important aspect of education for children with ASD is improving their ability to communicate with others. The failure to communicate tends to lead to inappropriate behaviours which often manifest as tantrums, aggression and self-harming. All of these represent threats to children's health and safety. Teaching children with ASD to express their needs and establish meaningful social contact with people around them reduces their frustration and makes the inappropriate behaviours less likely, consequently improving their health.
The School opened its doors to children with ASD in 2008. It now operates from two sites. The primary site has a capacity of eighteen students aged 5 to 11 and mostly operates at full capacity. The secondary site opened in November 2020. It has a capacity of 24 pupils aged between 12 to 16.
The School has worked towards building stronger relationship with other schools, local educational authorities and organisations in the boroughs it operates to create opportunities for children to integrate in the community. The School has access to two local mainstream schools, local library, swimming pool and Nevern Garden (local gated garden).
The primary site, rented from Notting Hill Housing Trust, comprise two garden flats in Earls Court, SW5, licensed and converted to operate as a school. The lease was renewed for 10 years in 2018.
The secondary site, situated in London, W3, is rented from an individual landlord for a period of 10 years with the option of extending for another 10 years from June 2020. It is an ex-Salvation Army building and is over three floors providing good size classrooms, a soft room, a kitchen for pupils food technology and an assembly room. There is also a small outside area. The Charity spent £970,000 to bring it up to the standards required by the Department for Education in respect of disability, safety and fire regulations.
Curriculum and Policies
The School's curriculum, based on the National Curriculum, has been written but modified to meet the needs of pupils with ASD, as are all the necessary policies. The policies are kept up to date to meet the growing school needs, particularly to cover the students needs at the age range of 12 to 16.
In order to have control over the admission process we decided to opt out of the requirement of Section 41 of the
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Objectives and activities (continued)
Children and Families Act 2014 and the School has continued to be listed as an Independent Special School (England and Wales) since April 2008.
b. Volunteers
Many volunteers give up their time to help the Charity. The Trustees convey their appreciation to all the volunteers for their commitment and support.
Achievements and performance
a. Main achievements of the Charity
Charitable activities
The School provides education for pupils with moderate to severe autism. It provides a specialist teaching environment that develops both the academic and social skills, thus providing each pupil with the chance for a better future and achieve their potential, whilst also improving the quality of their families lives.
Teaching each child costs around £60-65k (2023 - £60k) per year. The Charity has been successful to fill all the available placements and cover the cost of educating pupils from the fees generated.
Fundraising activities
During the year £56,825 (2023 - £80,688) has been raised through fundraising activities and donors are as follows:
Popli Khalatbari Charitable Foundation - £25,000 (2023 - £15,000) Padwa Charitable Foundation - £22,194 The John and Ruth Howard Charitable Trust- £3,000 Harapan Trust - £300 Ruebon Trust - £250 Jack Petchy Foundation - £900 (2023 - £600) Other donations - £ 5,180 - (2023 - £12,588)
b. Investment policy and performance
The Charity does not have investments. The trustees monitor cash resources and when possible short term deposits are used as a cash management tool.
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Achievements and performance (continued)
c. Internal and external factors
The School maintains good relations with its staff. There is one to one tutoring for each pupil and in exceptional cases it is two for one. The staff are in close contact with parents and update them on a daily basis through the home/school book and Earwig, an app which enables teachers to share photos, videos and documents with parents. Some parents are also working privately to raise funds for the Charity. The School owns an app which allows it to provide detailed reports, videos and photos of pupils for their parents to access. The parents can also use the app to update the School about their child.
Employing staff remains very challenging and the School had to spend a lot of money on agency fees again this year.
Mrs Akhavan, a trustee, looks to arrange different activities to raise funds for the School. There is a very friendly relationship between the trustees and the Charity take advantage of their expertise and experience.
Local Education Authorities pay tuition fees for the pupils on termly basis. The School keeps in close contact with the Local Education Authorities and keeps them up to date with activities.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Charity has a reserve policy to hold unrestricted funds available at a sufficient level to meet the future needs of the Charity (around six months, equivalent to £400,000). The trustees of the Charity, who are responsible for the reserves policy, monitor and review it at regular intervals to satisfy themselves that funds held are adequate for the Charity's needs. The School has a £50,000 reserve policy for an additional disabled access if needed in the future.
As disclosed on the balance sheet the Charity holds unrestricted funds of £367,932 (2023 - £286,828) at the year end. Restricted funds at the year end were £1,218,746 (2023 - £1,219,945).
The Charity is raising money to purchase the secondary site and have it as a permanent home for the school.
c. Principal funding
During the year the Charity generated Tuition Fees of £2,526,282 (2023 - £2,455,238), received £56,825 (2023 - £80,688) from individuals as donations, and £597 (2023 - £7,360) as Gift Aid from HMRC. Bank interest, which is interest on bank deposits, was £52,589 (2023 - £17,054).
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Structure, governance and management
a. Constitution
Snowflake School For Children With Autism Limited is registered as a charitable company limited by guarantee.
b. Methods of appointment or election of Trustees
New trustees who can be appointed by an ordinary resolution who must also be willing to act as a director. The process for appointing trustees is currently under review and an update will be provided to the board in due course.
The Charity is always looking for trustees who are not only interested in the cause, but can also bring specific expertise to the School. We first welcome them at a general meeting, then appoint them as non-executive trustees so they can join the board, learn about the School, get to know each other, and if all proves fine, they are invited to join the board as a full trustee.
Directors/Trustees Rotation
The Directors/Trustees to retire by rotation are usually those who have been longest in the office since their last appointment. If any director became or were appointed directors on the same day those to retire shall, unless they otherwise agree amongst themselves, be determined by lot. We have had trustees who have left. Some founding trustees are still members.
c. Organisational structure and decision-making policies
Mrs Faryaneh Akhavan is the bursar of the School and she deals with all the financial, operational, governance and compliance issues of the Charity. She processes the financial data and is authorised to make payments up to £1,000.
A bookkeeper is supporting her with the accounts and an assistant provides help with payroll.
There are 42 tutors for one to one care of each child, five supervisors and six (three qualified, one newly qualified, one trainee and one non-qualified) class teachers. There are also an occupational therapist (OT), a trainee OT, a verbal behaviour analyst and one speech therapist. They are supervised by the head teacher who is supported by four assistant heads and three administrators.
Every term the head teacher, Mrs Kerry Sternstein, and the bursar/trustee, Mrs Faryaneh Akhavan, present a report to the board of trustees regarding all the operational aspects of the Charity.
The School was inspected by OFSTED in May 2023 and was awarded 'Good' overall, with 'Outstanding' in behaviour.
d. Policies adopted for the induction and training of Trustees
The induction procedures include briefing new trustees on the history and objects of the Charity, the committee and decision making processes, the current plans of the Charity, and meeting other trustees and key employees. Trustees are encouraged to attend appropriate external training events when this will facilitate the development of their role in the Charity.
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Structure, governance and management (continued)
e. Related party relationships
Mrs Faryaneh Akhavan is a trustee who is employed as the School bursar. For the financial year under review she received a salary of £84,583 (2023 - £80,000).
f. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
g. Trustees' indemnities
The Charity has granted an indemnity to the trustees against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of the approving of the trustees' report.
Plans for future periods
The Trustees will carry on working to improve the quality of education and behaviour support for the betterment of the pupils.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Sopher + Co LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 7 January 2025 and signed on their behalf by:
F Akhavan
(Chair of Trustees)
Page 7
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
Opinion
We have audited the financial statements of Snowflake School For Children With Autism Limited (the 'Charity') for the year ended 31 July 2024, which comprise , the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the Charity's affairs as at 31 July 2024 and of its result for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006; and
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (CONTINUED)
inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
Responsibilities of directors
As explained more fully in the Trustees' Responsibilities Statement set out on page , the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (CONTINUED)
accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the Company through discussions with trustees and other management, and from our knowledge and experience of the school and charity sectors;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, Charities Act 201, data protection, employment, and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
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understanding the design of the Company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with relevant regulators, such as the Charity Commission, and legal expenses incurred.
Page 10
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Use of our report
This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted 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.
Stephen Iseman FCA (Senior Statutory Auditor)
for and on behalf of Sopher + Co LLP
Chartered Accountants & Statutory Auditors
5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD
7 January 2025
Page 11
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024
| Note Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Total income and endowments Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 30,021 1,700 52,589 84,310 3,206 - 3,206 81,104 286,828 81,104 367,932 |
Restricted funds 2024 £ 31,952 2,526,282 - 2,558,234 - 2,559,433 2,559,433 (1,199) 1,219,945 (1,199) 1,218,746 |
Endowment funds 2024 £ - - - - - 569 569 (569) 832 (569) 263 |
Total funds 2024 £ 61,973 2,527,982 52,589 2,642,544 3,206 2,560,002 2,563,208 79,336 1,507,605 79,336 1,586,941 |
Total funds 2023 £ 100,440 2,456,918 17,054 2,574,412 |
|---|---|---|---|---|---|
| 1,313 2,439,964 2,441,277 |
|||||
| 133,135 | |||||
| 1,374,470 133,135 1,507,605 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 28 form part of these financial statements.
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee) REGISTERED NUMBER: 05873616
BALANCE SHEET AS AT 31 JULY 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 13 | 534,562 | 611,104 | |||
| Current assets | ||||||
| Debtors | 14 | 785,030 | 69,649 | |||
| Cash at bank and in hand | 1,167,626 | 923,341 | ||||
| Current liabilities | 1,952,656 | 992,990 | ||||
| Creditors: amounts falling due within one | ||||||
| year | 15 | (900,277) | (96,489) | |||
| Net current assets | 1,052,379 | 896,501 | ||||
| Total net assets | 1,586,941 | 1,507,605 | ||||
| Charity funds | ||||||
| Endowment funds | 16 | 263 | 832 | |||
| Restricted funds | 16 | 1,218,746 | 1,219,945 | |||
| Unrestricted funds | 16 | 367,932 | 286,828 | |||
| Total funds | 1,586,941 | 1,507,605 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 07 January 2025 and signed on their behalf by:
F Akhavan
(Chair of Trustees)
The notes on pages 15 to 28 form part of these financial statements.
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024
| Cash flows from operating activities Net cash generated from operating activities Cash flows from/used in investing activities Interest on bank deposits Purchase of tangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 15 to 28 form part of these financial statements |
2024 £ 246,692 52,589 (54,996) (2,407) 244,285 923,341 1,167,626 |
2023 £ 254,392 17,054 (36,035) (18,981) 235,411 687,930 923,341 |
|---|---|---|
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. General information
Snowflake School for Children with Autism Limited is a private company limited by guarantee registered in England and Wales. Its registered office and principal place of business is 10-14 Crown Street, London, W3 8SB. The Company is also a Charity registered with the Charity Commission and the registration number is 1110687.
The principal activity is to advance educational opportunities for children with diagnosis of Autistic Spectrum Disorder (ASD).
The functional and presentational currency of the Company is £ Sterling.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Snowflake School For Children With Autism Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
Income comprises principally of tuition fees, grants and donations.
Tuition fees are recognised in the period they relate to.
Grants are included in the Statement of Financial Activities on a receivable basis.
Donations are recognised on a receivable basis when the amount receivable can be reliably measured, otherwise they are recognised when received. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when the Gift Aid is received.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Where costs include VAT they are charged to the income and expenditure account with VAT.
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SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
| Leasehold improvements | - | Over the shorter of useful economic life and |
|---|---|---|
| term of the lease | ||
| Plant and machinery | - | 25% reducing balance |
| Fixtures and fittings | - | 25% reducing balance |
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount prepaid.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 16
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
2. Accounting policies (continued)
2.10 Pensions
The Charity contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. A defined contribution plan is a pension plan under which the Charity pays fixed contributions into a separate entity. Once the contributions have been paid the Charity have no further payment obligations.
The contributions are recognised as an expense in the Statement of Financial Activities when they fall due. Amounts not paid are shown in creditors as a liability on the Balance Sheet. The assets of the plan are held separately from the Charity in independently administered funds.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. They represent the cumulative balance of unrestricted funds receivable, such as donations and interest, net of costs incurred in generating them.
Endowment funds comprise funds received for a specified purpose.
Restricted funds are funds which have been raised by the Charity in furtherance of its principal activity, principally tuition fees, and donations with specific restrictions imposed by donors. They represent the cummulative balance of restricted funds receivable net of related costs.
3. Statement of financial activities
During the year the Charity received £61,973 (2023 - £100,440) in donations and earned interest of £52,589 (2023 - £17,054). Excluding donations and interest the Charity made a deficit for the year of £35,226 (2023 - surplus £15,641).
Page 17
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
4. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 30,021 Grants - 30,021 Unrestricted funds 2023 £ Donations 55,348 Grants - 55,348 Income from charitable activities Unrestricted funds 2024 £ Tuition fees - Other income 1,700 1,700 |
Restricted funds 2024 £ 27,401 4,551 31,952 Restricted funds 2023 £ 33,100 11,992 45,092 Restricted funds 2024 £ 2,526,282 - 2,526,282 |
Total funds 2024 £ 57,422 4,551 61,973 |
|---|---|---|
| Total funds 2023 £ 88,448 11,992 100,440 |
||
| Total funds 2024 £ 2,526,282 1,700 2,527,982 |
5. Income from charitable activities
Page 18
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
5. Income from charitable activities (continued)
| Tuition fees Other income 6. Investment income Interest on bank deposit Interest on bank deposit 7. Expenditure on raising funds Support costs |
Unrestricted funds 2023 Restricted funds 2023 £ £ - 2,455,238 1,680 - 1,680 2,455,238 Unrestricted funds 2024 £ 52,589 Unrestricted funds 2023 £ 17,054 Unrestricted funds 2024 £ 3,206 |
Total funds 2023 £ 2,455,238 1,680 2,456,918 |
|---|---|---|
| Total funds 2024 £ 52,589 |
||
| Total funds 2023 £ 17,054 |
||
| Total funds 2024 £ 3,206 |
Page 19
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
7. Expenditure on raising funds (continued)
(continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Support costs | 1,313 | 1,313 |
8. Analysis of expenditure on charitable activities
Summary by fund type
| Tuition fees Support costs Tuition fees Support costs |
Restricted funds 2024 £ 2,321,166 238,267 2,559,433 |
Endowment funds 2024 £ 569 - 569 Restricted funds 2023 £ 2,289,342 150,622 2,439,964 |
Total 2024 £ 2,321,735 238,267 2,560,002 |
|---|---|---|---|
| Total 2023 £ 2,289,342 150,622 2,439,964 |
Page 20
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
9. Analysis of expenditure by activities
| Tuition fees Management, finance and governance costs Tuition fees Management, finance and governance costs |
Activities undertaken directly 2024 £ 1,774,352 - 1,774,352 Activities undertaken directly 2023 £ 1,876,940 - 1,876,940 |
Support costs 2024 £ 547,383 238,267 785,650 Support costs 2023 £ 412,402 150,622 563,024 |
Total funds 2024 £ 2,321,735 238,267 2,560,002 |
|---|---|---|---|
| Total funds 2023 £ 2,289,342 150,622 2,439,964 |
10. Auditors' remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's auditor for the audit of the Charity's annual | ||
| accounts | 5,400 | 5,400 |
Page 21
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 1,569,898 131,066 22,461 1,723,425 |
2023 £ 1,650,457 145,528 24,746 |
|---|---|---|
| 1,820,731 |
The average number of persons employed by the Charity during the year was as follows:
| Bursar Head Teacher Deputy Head Teacher Assistant Head Teachers Teachers Administrators Supervisors Tutors Lead tutors Lunch support Care takers Occupational therapist Speech therapist |
2024 No. 1 1 - 4 6 3 4 36 6 2 1 1 1 66 |
2023 No. 1 1 1 2 7 3 6 30 6 2 1 1 1 |
|---|---|---|
| 62 |
Although the average number of employees has increased the total staff costs have decreased. This is because of the lead time between employees leaving, recruitment and new joiners starting. To fill the gap the School uses agency staff.
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2024 | 2023 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | - | 1 |
| In the band £70,001 | - £80,000 | - | 1 |
| In the band £80,001 | - £90,000 | 1 | - |
| In the band £90,001 | - £100,000 | 1 | 1 |
Page 22
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
12. Trustees' remuneration and expenses
During the year F Akhavan received a salary of £84,583 (2023 - £80,000) and the School made pension contributions of £440 (2023 - £Nil) to a defined contribution scheme for her benefit.
During the year ended 31 July 2024, no Trustee expenses have been incurred (2023 - £NIL).
13. Tangible fixed assets
| Cost At 1 August 2023 Additions At 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Net book value At 31 July 2024 At 31 July 2023 Debtors Other debtors Due within one year Trade debtors Prepayments and accrued income |
Leasehold improvements £ 902,140 5,132 907,272 383,443 90,671 474,114 433,158 518,697 |
Plant and machinery £ 106,317 15,427 121,744 64,438 15,592 80,030 41,714 41,879 |
Fixtures and fittings £ 153,900 34,437 188,337 103,372 25,275 128,647 59,690 50,528 2024 £ 18,750 740,404 25,876 785,030 |
Total £ 1,162,357 54,996 1,217,353 |
|---|---|---|---|---|
| 551,253 131,538 682,791 |
||||
| 534,562 | ||||
| 611,104 | ||||
| 2023 £ 18,750 2,278 48,621 69,649 |
14. Debtors
Page 23
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
15. Creditors: Amounts falling due within one year
| Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 38,108 5,402 856,767 900,277 |
2023 £ 41,543 42,764 12,182 |
|---|---|---|
| 96,489 |
16. Statement of funds
Statement of funds - current year
| Balance at 1 August 2023 £ Unrestricted funds General Funds 286,828 Endowment funds Endowment Funds 832 Restricted funds Restricted Funds 1,219,945 Total of funds 1,507,605 |
Income £ 84,310 - 2,558,234 2,642,544 |
Expenditure £ Balance at 31 July 2024 £ (3,206) 367,932 (569) 263 (2,559,433) 1,218,746 (2,563,208) 1,586,941 |
Expenditure £ Balance at 31 July 2024 £ (3,206) 367,932 (569) 263 (2,559,433) 1,218,746 (2,563,208) 1,586,941 |
|---|---|---|---|
| 263 | |||
| 1,218,746 | |||
| 1,586,941 |
Page 24
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
16. Statement of funds (continued) Statement of funds - prior year
| Balance at 1 August 2022 £ Unrestricted funds General Funds 241,076 Endowment funds Endowment Funds 832 Restricted funds Restricted Funds 1,132,562 Total of funds 1,374,470 17. Summary of funds Summary of funds - current year Balance at 1 August 2023 £ General Funds 286,828 Endowment Funds 832 Restricted Funds 1,219,945 1,507,605 |
Income £ 74,082 - 2,500,330 2,574,412 Income £ 84,310 - 2,558,234 2,642,544 |
Expenditure £ Balance at 31 July 2023 £ (28,330) 286,828 - 832 (2,412,947) 1,219,945 (2,441,277) 1,507,605 Expenditure £ Balance at 31 July 2024 £ (3,206) 367,932 (569) 263 (2,559,433) 1,218,746 (2,563,208) 1,586,941 |
Balance at 31 July 2023 £ 286,828 |
|---|---|---|---|
| 832 | |||
| 1,219,945 | |||
| 1,507,605 |
Page 25
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| 17. Summary of funds (continued) Summary of funds - prior year Balance at 1 August 2022 £ General Funds 241,076 Endowment Funds 832 Restricted Funds 1,132,562 1,374,470 18. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 £ Tangible fixed assets - Debtors due after more than one year 18,750 Current assets 349,182 Creditors due within one year - Total 367,932 Analysis of net assets between funds - prior period Unrestricted funds 2023 £ Tangible fixed assets - Debtors due after more than one year 18,750 Current assets 268,078 Creditors due within one year - Total 286,828 |
Income £ 74,082 - 2,500,330 2,574,412 Restricted funds 2024 £ 534,299 - 1,584,724 (900,277) 1,218,746 Restricted funds 2023 £ 610,272 - 706,162 (96,489) 1,219,945 |
Expenditure £ (28,330) - (2,412,947) (2,441,277) Endowment funds 2024 £ 263 - - - 263 Endowment funds 2023 £ 832 - - - 832 |
Balance at 31 July 2023 £ 286,828 832 1,219,945 1,507,605 Total funds 2024 £ 534,562 18,750 1,933,906 (900,277) 1,586,941 Total funds 2023 £ 611,104 18,750 974,240 (96,489) 1,507,605 |
|---|---|---|---|
Page 26
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Deposit account interest (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities 20. Analysis of cash and cash equivalents Cash in hand Notice deposits (less than 3 months) Total cash and cash equivalents 21. Analysis of changes in net debt At 1 August 2023 £ Cash at bank and in hand 923,341 |
2024 £ 79,336 131,538 (52,589) (715,381) 803,788 246,692 2024 £ 149,677 1,017,949 1,167,626 Cash flows £ 244,285 |
2023 £ 133,135 125,196 (17,054) 13,643 (528) 254,392 2023 £ 59,191 864,150 923,341 At 31 July 2024 £ 1,167,626 |
|---|---|---|
Page 27
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
22. Pension commitments
The Charity contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £22,461 (2023 - £24,746). Contributions totalling £4,524 (2023 - £5,042) were payable to the fund at the balance sheet date and are included in creditors.
23. Operating lease commitments
At 31 July 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years |
2024 £ 136,056 419,603 813,750 1,369,409 |
2023 £ 136,056 480,659 888,750 |
|---|---|---|
| 1,505,465 |
24. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.
Page 28
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024
| Income Tuition fees Donations Gift Aid Grants Other Deposit interest Less: Charitable activities Trustees' salaries Trustees' national insurance Trustees' pension contributions Salaries and wages Staff national insurance Staff pensions Agency staff Direct expenses Total charitable activities |
2024 2024 £ £ 2,526,282 56,825 597 4,551 1,700 52,589 2,642,544 84,583 10,417 440 1,485,315 120,649 22,021 349,041 55,759 2,128,225 |
2023 2023 £ £ 2,455,238 80,688 7,360 11,392 2,680 17,054 2,574,412 80,000 10,920 - 1,570,457 134,608 24,746 223,197 57,485 2,101,413 |
|---|---|---|
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
| Support, management, governance and finance costs Travelling Cost of generating funds Telephone Printing, postage and stationery Advertising IT expenses Subscriptions Bank charges Auditors' remuneration Accountancy fees Rent, rates and water Light and heat Repairs and maintenance Cleaning Insurance Sundries Depreciation of fixed assets Total support, management, governance and finance costs Total expenditure Surplus for the reporting period Surplus brought forward at 1 August 2023 Surplus carried forward at 31 July 2024 |
2024 £ 4,520 3,206 4,505 5,186 4,598 9,151 11,455 101 4,200 6,536 138,972 14,503 5,399 52,153 37,267 1,693 131,538 |
2024 £ 434,983 2,563,208 79,336 1,507,605 1,586,941 |
2023 £ 6,252 1,313 4,928 5,893 4,232 6,545 8,196 113 4,200 7,093 67,579 14,988 5,702 51,649 24,811 1,174 125,196 |
2023 £ |
|---|---|---|---|---|
| 339,864 | ||||
| 2,441,277 | ||||
| 133,135 1,374,470 |
||||
| 1,507,605 |
SIGNATURE CERTIFICATE
Document
Name Snowflake School For Children With Autism Limited - Full acc Creator Nicole Meho (nicole.meho@sopherco.com) Date 07 January 2025 16:08:40 UTC Identifier dc4128ed-71f9-45c4-a46e-4b95b7a64afd
Signers
faryaneh@snowflakeschool.org.uk
E-mail faryaneh@snowflakeschool.org.uk Signed 07 January 2025 16:34:03 UTC IP address 213.123.186.154
Registered number: 05873616 Charity number: 1110687
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 7 |
| Independent Auditors' Report on the Financial Statements | 8 - 11 |
| Statement of Financial Activities | 12 |
| Balance Sheet | 13 |
| Statement of Cash Flows | 14 |
| Notes to the Financial Statements | 15 - 28 |
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2024
| Trustees | F Akhavan |
|---|---|
| A Farmanfarmaian | |
| S Bagherzadeh | |
| J S Cheetham QC | |
| M A Manzouri | |
| Company registered number 05873616 Charity registered number 1110687 Registered office 10-14 Crown Street London W3 8SB Company secretary A Farmanfarmaian Independent auditors Sopher + Co LLP Chartered Accountants & Statutory Auditors 5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD Bankers HSBC 25 Notting Hill Gate London W11 3JJ |
Page 1
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2024
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 August 2023 to 31 July 2024. The Annual Report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The primary aim of Snowflake School for Children With Autism Limited (''the Charity/School'') is to advance educational opportunities for children with diagnosis of Autistic Spectrum Disorder (ASD).
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
The most important aspect of education for children with ASD is improving their ability to communicate with others. The failure to communicate tends to lead to inappropriate behaviours which often manifest as tantrums, aggression and self-harming. All of these represent threats to children's health and safety. Teaching children with ASD to express their needs and establish meaningful social contact with people around them reduces their frustration and makes the inappropriate behaviours less likely, consequently improving their health.
The School opened its doors to children with ASD in 2008. It now operates from two sites. The primary site has a capacity of eighteen students aged 5 to 11 and mostly operates at full capacity. The secondary site opened in November 2020. It has a capacity of 24 pupils aged between 12 to 16.
The School has worked towards building stronger relationship with other schools, local educational authorities and organisations in the boroughs it operates to create opportunities for children to integrate in the community. The School has access to two local mainstream schools, local library, swimming pool and Nevern Garden (local gated garden).
The primary site, rented from Notting Hill Housing Trust, comprise two garden flats in Earls Court, SW5, licensed and converted to operate as a school. The lease was renewed for 10 years in 2018.
The secondary site, situated in London, W3, is rented from an individual landlord for a period of 10 years with the option of extending for another 10 years from June 2020. It is an ex-Salvation Army building and is over three floors providing good size classrooms, a soft room, a kitchen for pupils food technology and an assembly room. There is also a small outside area. The Charity spent £970,000 to bring it up to the standards required by the Department for Education in respect of disability, safety and fire regulations.
Curriculum and Policies
The School's curriculum, based on the National Curriculum, has been written but modified to meet the needs of pupils with ASD, as are all the necessary policies. The policies are kept up to date to meet the growing school needs, particularly to cover the students needs at the age range of 12 to 16.
In order to have control over the admission process we decided to opt out of the requirement of Section 41 of the
Page 2
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Objectives and activities (continued)
Children and Families Act 2014 and the School has continued to be listed as an Independent Special School (England and Wales) since April 2008.
b. Volunteers
Many volunteers give up their time to help the Charity. The Trustees convey their appreciation to all the volunteers for their commitment and support.
Achievements and performance
a. Main achievements of the Charity
Charitable activities
The School provides education for pupils with moderate to severe autism. It provides a specialist teaching environment that develops both the academic and social skills, thus providing each pupil with the chance for a better future and achieve their potential, whilst also improving the quality of their families lives.
Teaching each child costs around £60-65k (2023 - £60k) per year. The Charity has been successful to fill all the available placements and cover the cost of educating pupils from the fees generated.
Fundraising activities
During the year £56,825 (2023 - £80,688) has been raised through fundraising activities and donors are as follows:
Popli Khalatbari Charitable Foundation - £25,000 (2023 - £15,000) Padwa Charitable Foundation - £22,194 The John and Ruth Howard Charitable Trust- £3,000 Harapan Trust - £300 Ruebon Trust - £250 Jack Petchy Foundation - £900 (2023 - £600) Other donations - £ 5,180 - (2023 - £12,588)
b. Investment policy and performance
The Charity does not have investments. The trustees monitor cash resources and when possible short term deposits are used as a cash management tool.
Page 3
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Achievements and performance (continued)
c. Internal and external factors
The School maintains good relations with its staff. There is one to one tutoring for each pupil and in exceptional cases it is two for one. The staff are in close contact with parents and update them on a daily basis through the home/school book and Earwig, an app which enables teachers to share photos, videos and documents with parents. Some parents are also working privately to raise funds for the Charity. The School owns an app which allows it to provide detailed reports, videos and photos of pupils for their parents to access. The parents can also use the app to update the School about their child.
Employing staff remains very challenging and the School had to spend a lot of money on agency fees again this year.
Mrs Akhavan, a trustee, looks to arrange different activities to raise funds for the School. There is a very friendly relationship between the trustees and the Charity take advantage of their expertise and experience.
Local Education Authorities pay tuition fees for the pupils on termly basis. The School keeps in close contact with the Local Education Authorities and keeps them up to date with activities.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Charity has a reserve policy to hold unrestricted funds available at a sufficient level to meet the future needs of the Charity (around six months, equivalent to £400,000). The trustees of the Charity, who are responsible for the reserves policy, monitor and review it at regular intervals to satisfy themselves that funds held are adequate for the Charity's needs. The School has a £50,000 reserve policy for an additional disabled access if needed in the future.
As disclosed on the balance sheet the Charity holds unrestricted funds of £367,932 (2023 - £286,828) at the year end. Restricted funds at the year end were £1,218,746 (2023 - £1,219,945).
The Charity is raising money to purchase the secondary site and have it as a permanent home for the school.
c. Principal funding
During the year the Charity generated Tuition Fees of £2,526,282 (2023 - £2,455,238), received £56,825 (2023 - £80,688) from individuals as donations, and £597 (2023 - £7,360) as Gift Aid from HMRC. Bank interest, which is interest on bank deposits, was £52,589 (2023 - £17,054).
Page 4
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Structure, governance and management
a. Constitution
Snowflake School For Children With Autism Limited is registered as a charitable company limited by guarantee.
b. Methods of appointment or election of Trustees
New trustees who can be appointed by an ordinary resolution who must also be willing to act as a director. The process for appointing trustees is currently under review and an update will be provided to the board in due course.
The Charity is always looking for trustees who are not only interested in the cause, but can also bring specific expertise to the School. We first welcome them at a general meeting, then appoint them as non-executive trustees so they can join the board, learn about the School, get to know each other, and if all proves fine, they are invited to join the board as a full trustee.
Directors/Trustees Rotation
The Directors/Trustees to retire by rotation are usually those who have been longest in the office since their last appointment. If any director became or were appointed directors on the same day those to retire shall, unless they otherwise agree amongst themselves, be determined by lot. We have had trustees who have left. Some founding trustees are still members.
c. Organisational structure and decision-making policies
Mrs Faryaneh Akhavan is the bursar of the School and she deals with all the financial, operational, governance and compliance issues of the Charity. She processes the financial data and is authorised to make payments up to £1,000.
A bookkeeper is supporting her with the accounts and an assistant provides help with payroll.
There are 42 tutors for one to one care of each child, five supervisors and six (three qualified, one newly qualified, one trainee and one non-qualified) class teachers. There are also an occupational therapist (OT), a trainee OT, a verbal behaviour analyst and one speech therapist. They are supervised by the head teacher who is supported by four assistant heads and three administrators.
Every term the head teacher, Mrs Kerry Sternstein, and the bursar/trustee, Mrs Faryaneh Akhavan, present a report to the board of trustees regarding all the operational aspects of the Charity.
The School was inspected by OFSTED in May 2023 and was awarded 'Good' overall, with 'Outstanding' in behaviour.
d. Policies adopted for the induction and training of Trustees
The induction procedures include briefing new trustees on the history and objects of the Charity, the committee and decision making processes, the current plans of the Charity, and meeting other trustees and key employees. Trustees are encouraged to attend appropriate external training events when this will facilitate the development of their role in the Charity.
Page 5
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Structure, governance and management (continued)
e. Related party relationships
Mrs Faryaneh Akhavan is a trustee who is employed as the School bursar. For the financial year under review she received a salary of £84,583 (2023 - £80,000).
f. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
g. Trustees' indemnities
The Charity has granted an indemnity to the trustees against liability in respect of proceedings brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third party indemnity provision remains in force as at the date of the approving of the trustees' report.
Plans for future periods
The Trustees will carry on working to improve the quality of education and behaviour support for the betterment of the pupils.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 6
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
-
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
-
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Sopher + Co LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 7 January 2025 and signed on their behalf by:
F Akhavan
(Chair of Trustees)
Page 7
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
Opinion
We have audited the financial statements of Snowflake School For Children With Autism Limited (the 'Charity') for the year ended 31 July 2024, which comprise , the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the Charity's affairs as at 31 July 2024 and of its result for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006; and
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
Page 8
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (CONTINUED)
inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of Trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
Responsibilities of directors
As explained more fully in the Trustees' Responsibilities Statement set out on page , the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
Page 9
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (CONTINUED)
accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
-
we identified the laws and regulations applicable to the Company through discussions with trustees and other management, and from our knowledge and experience of the school and charity sectors;
-
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, Charities Act 201, data protection, employment, and health and safety legislation;
-
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
-
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
-
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
-
understanding the design of the Company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
-
performed analytical procedures to identify any unusual or unexpected relationships;
-
tested journal entries to identify unusual transactions;
-
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
-
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
agreeing financial statement disclosures to underlying supporting documentation;
-
reading the minutes of meetings of those charged with governance;
-
enquiring of management as to actual and potential litigation and claims; and
-
reviewing correspondence with relevant regulators, such as the Charity Commission, and legal expenses incurred.
Page 10
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE OF SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (CONTINUED)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Use of our report
This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted 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.
Stephen Iseman FCA (Senior Statutory Auditor)
for and on behalf of Sopher + Co LLP
Chartered Accountants & Statutory Auditors
5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD
7 January 2025
Page 11
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2024
| Note Income and endowments from: Donations and legacies 4 Charitable activities 5 Investments 6 Total income and endowments Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 30,021 1,700 52,589 84,310 3,206 - 3,206 81,104 286,828 81,104 367,932 |
Restricted funds 2024 £ 31,952 2,526,282 - 2,558,234 - 2,559,433 2,559,433 (1,199) 1,219,945 (1,199) 1,218,746 |
Endowment funds 2024 £ - - - - - 569 569 (569) 832 (569) 263 |
Total funds 2024 £ 61,973 2,527,982 52,589 2,642,544 3,206 2,560,002 2,563,208 79,336 1,507,605 79,336 1,586,941 |
Total funds 2023 £ 100,440 2,456,918 17,054 2,574,412 |
|---|---|---|---|---|---|
| 1,313 2,439,964 2,441,277 |
|||||
| 133,135 | |||||
| 1,374,470 133,135 1,507,605 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 28 form part of these financial statements.
Page 12
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee) REGISTERED NUMBER: 05873616
BALANCE SHEET AS AT 31 JULY 2024
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 13 | 534,562 | 611,104 | |||
| Current assets | ||||||
| Debtors | 14 | 785,030 | 69,649 | |||
| Cash at bank and in hand | 1,167,626 | 923,341 | ||||
| Current liabilities | 1,952,656 | 992,990 | ||||
| Creditors: amounts falling due within one | ||||||
| year | 15 | (900,277) | (96,489) | |||
| Net current assets | 1,052,379 | 896,501 | ||||
| Total net assets | 1,586,941 | 1,507,605 | ||||
| Charity funds | ||||||
| Endowment funds | 16 | 263 | 832 | |||
| Restricted funds | 16 | 1,218,746 | 1,219,945 | |||
| Unrestricted funds | 16 | 367,932 | 286,828 | |||
| Total funds | 1,586,941 | 1,507,605 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 07 January 2025 and signed on their behalf by:
F Akhavan
(Chair of Trustees)
The notes on pages 15 to 28 form part of these financial statements.
Page 13
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024
| Cash flows from operating activities Net cash generated from operating activities Cash flows from/used in investing activities Interest on bank deposits Purchase of tangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 15 to 28 form part of these financial statements |
2024 £ 246,692 52,589 (54,996) (2,407) 244,285 923,341 1,167,626 |
2023 £ 254,392 17,054 (36,035) (18,981) 235,411 687,930 923,341 |
|---|---|---|
Page 14
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. General information
Snowflake School for Children with Autism Limited is a private company limited by guarantee registered in England and Wales. Its registered office and principal place of business is 10-14 Crown Street, London, W3 8SB. The Company is also a Charity registered with the Charity Commission and the registration number is 1110687.
The principal activity is to advance educational opportunities for children with diagnosis of Autistic Spectrum Disorder (ASD).
The functional and presentational currency of the Company is £ Sterling.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Snowflake School For Children With Autism Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
Income comprises principally of tuition fees, grants and donations.
Tuition fees are recognised in the period they relate to.
Grants are included in the Statement of Financial Activities on a receivable basis.
Donations are recognised on a receivable basis when the amount receivable can be reliably measured, otherwise they are recognised when received. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised when the Gift Aid is received.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Where costs include VAT they are charged to the income and expenditure account with VAT.
Page 15
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
2. Accounting policies (continued)
2.4 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
| Leasehold improvements | - | Over the shorter of useful economic life and |
|---|---|---|
| term of the lease | ||
| Plant and machinery | - | 25% reducing balance |
| Fixtures and fittings | - | 25% reducing balance |
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any discount offered. Prepayments are valued at the amount prepaid.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 16
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
2. Accounting policies (continued)
2.10 Pensions
The Charity contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. A defined contribution plan is a pension plan under which the Charity pays fixed contributions into a separate entity. Once the contributions have been paid the Charity have no further payment obligations.
The contributions are recognised as an expense in the Statement of Financial Activities when they fall due. Amounts not paid are shown in creditors as a liability on the Balance Sheet. The assets of the plan are held separately from the Charity in independently administered funds.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. They represent the cumulative balance of unrestricted funds receivable, such as donations and interest, net of costs incurred in generating them.
Endowment funds comprise funds received for a specified purpose.
Restricted funds are funds which have been raised by the Charity in furtherance of its principal activity, principally tuition fees, and donations with specific restrictions imposed by donors. They represent the cummulative balance of restricted funds receivable net of related costs.
3. Statement of financial activities
During the year the Charity received £61,973 (2023 - £100,440) in donations and earned interest of £52,589 (2023 - £17,054). Excluding donations and interest the Charity made a deficit for the year of £35,226 (2023 - surplus £15,641).
Page 17
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
4. Income from donations and legacies
| Unrestricted funds 2024 £ Donations 30,021 Grants - 30,021 Unrestricted funds 2023 £ Donations 55,348 Grants - 55,348 Income from charitable activities Unrestricted funds 2024 £ Tuition fees - Other income 1,700 1,700 |
Restricted funds 2024 £ 27,401 4,551 31,952 Restricted funds 2023 £ 33,100 11,992 45,092 Restricted funds 2024 £ 2,526,282 - 2,526,282 |
Total funds 2024 £ 57,422 4,551 61,973 |
|---|---|---|
| Total funds 2023 £ 88,448 11,992 100,440 |
||
| Total funds 2024 £ 2,526,282 1,700 2,527,982 |
5. Income from charitable activities
Page 18
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
5. Income from charitable activities (continued)
| Tuition fees Other income 6. Investment income Interest on bank deposit Interest on bank deposit 7. Expenditure on raising funds Support costs |
Unrestricted funds 2023 Restricted funds 2023 £ £ - 2,455,238 1,680 - 1,680 2,455,238 Unrestricted funds 2024 £ 52,589 Unrestricted funds 2023 £ 17,054 Unrestricted funds 2024 £ 3,206 |
Total funds 2023 £ 2,455,238 1,680 2,456,918 |
|---|---|---|
| Total funds 2024 £ 52,589 |
||
| Total funds 2023 £ 17,054 |
||
| Total funds 2024 £ 3,206 |
Page 19
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
7. Expenditure on raising funds (continued)
(continued)
| Unrestricted | Total | |
|---|---|---|
| funds | funds | |
| 2023 | 2023 | |
| £ | £ | |
| Support costs | 1,313 | 1,313 |
8. Analysis of expenditure on charitable activities
Summary by fund type
| Tuition fees Support costs Tuition fees Support costs |
Restricted funds 2024 £ 2,321,166 238,267 2,559,433 |
Endowment funds 2024 £ 569 - 569 Restricted funds 2023 £ 2,289,342 150,622 2,439,964 |
Total 2024 £ 2,321,735 238,267 2,560,002 |
|---|---|---|---|
| Total 2023 £ 2,289,342 150,622 2,439,964 |
Page 20
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
9. Analysis of expenditure by activities
| Tuition fees Management, finance and governance costs Tuition fees Management, finance and governance costs |
Activities undertaken directly 2024 £ 1,774,352 - 1,774,352 Activities undertaken directly 2023 £ 1,876,940 - 1,876,940 |
Support costs 2024 £ 547,383 238,267 785,650 Support costs 2023 £ 412,402 150,622 563,024 |
Total funds 2024 £ 2,321,735 238,267 2,560,002 |
|---|---|---|---|
| Total funds 2023 £ 2,289,342 150,622 2,439,964 |
10. Auditors' remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's auditor for the audit of the Charity's annual | ||
| accounts | 5,400 | 5,400 |
Page 21
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
11. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 1,569,898 131,066 22,461 1,723,425 |
2023 £ 1,650,457 145,528 24,746 |
|---|---|---|
| 1,820,731 |
The average number of persons employed by the Charity during the year was as follows:
| Bursar Head Teacher Deputy Head Teacher Assistant Head Teachers Teachers Administrators Supervisors Tutors Lead tutors Lunch support Care takers Occupational therapist Speech therapist |
2024 No. 1 1 - 4 6 3 4 36 6 2 1 1 1 66 |
2023 No. 1 1 1 2 7 3 6 30 6 2 1 1 1 |
|---|---|---|
| 62 |
Although the average number of employees has increased the total staff costs have decreased. This is because of the lead time between employees leaving, recruitment and new joiners starting. To fill the gap the School uses agency staff.
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2024 | 2023 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | - | 1 |
| In the band £70,001 | - £80,000 | - | 1 |
| In the band £80,001 | - £90,000 | 1 | - |
| In the band £90,001 | - £100,000 | 1 | 1 |
Page 22
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
12. Trustees' remuneration and expenses
During the year F Akhavan received a salary of £84,583 (2023 - £80,000) and the School made pension contributions of £440 (2023 - £Nil) to a defined contribution scheme for her benefit.
During the year ended 31 July 2024, no Trustee expenses have been incurred (2023 - £NIL).
13. Tangible fixed assets
| Cost At 1 August 2023 Additions At 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Net book value At 31 July 2024 At 31 July 2023 Debtors Other debtors Due within one year Trade debtors Prepayments and accrued income |
Leasehold improvements £ 902,140 5,132 907,272 383,443 90,671 474,114 433,158 518,697 |
Plant and machinery £ 106,317 15,427 121,744 64,438 15,592 80,030 41,714 41,879 |
Fixtures and fittings £ 153,900 34,437 188,337 103,372 25,275 128,647 59,690 50,528 2024 £ 18,750 740,404 25,876 785,030 |
Total £ 1,162,357 54,996 1,217,353 |
|---|---|---|---|---|
| 551,253 131,538 682,791 |
||||
| 534,562 | ||||
| 611,104 | ||||
| 2023 £ 18,750 2,278 48,621 69,649 |
14. Debtors
Page 23
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
15. Creditors: Amounts falling due within one year
| Other taxation and social security Other creditors Accruals and deferred income |
2024 £ 38,108 5,402 856,767 900,277 |
2023 £ 41,543 42,764 12,182 |
|---|---|---|
| 96,489 |
16. Statement of funds
Statement of funds - current year
| Balance at 1 August 2023 £ Unrestricted funds General Funds 286,828 Endowment funds Endowment Funds 832 Restricted funds Restricted Funds 1,219,945 Total of funds 1,507,605 |
Income £ 84,310 - 2,558,234 2,642,544 |
Expenditure £ Balance at 31 July 2024 £ (3,206) 367,932 (569) 263 (2,559,433) 1,218,746 (2,563,208) 1,586,941 |
Expenditure £ Balance at 31 July 2024 £ (3,206) 367,932 (569) 263 (2,559,433) 1,218,746 (2,563,208) 1,586,941 |
|---|---|---|---|
| 263 | |||
| 1,218,746 | |||
| 1,586,941 |
Page 24
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
16. Statement of funds (continued) Statement of funds - prior year
| Balance at 1 August 2022 £ Unrestricted funds General Funds 241,076 Endowment funds Endowment Funds 832 Restricted funds Restricted Funds 1,132,562 Total of funds 1,374,470 17. Summary of funds Summary of funds - current year Balance at 1 August 2023 £ General Funds 286,828 Endowment Funds 832 Restricted Funds 1,219,945 1,507,605 |
Income £ 74,082 - 2,500,330 2,574,412 Income £ 84,310 - 2,558,234 2,642,544 |
Expenditure £ Balance at 31 July 2023 £ (28,330) 286,828 - 832 (2,412,947) 1,219,945 (2,441,277) 1,507,605 Expenditure £ Balance at 31 July 2024 £ (3,206) 367,932 (569) 263 (2,559,433) 1,218,746 (2,563,208) 1,586,941 |
Balance at 31 July 2023 £ 286,828 |
|---|---|---|---|
| 832 | |||
| 1,219,945 | |||
| 1,507,605 |
Page 25
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| 17. Summary of funds (continued) Summary of funds - prior year Balance at 1 August 2022 £ General Funds 241,076 Endowment Funds 832 Restricted Funds 1,132,562 1,374,470 18. Analysis of net assets between funds Analysis of net assets between funds - current period Unrestricted funds 2024 £ Tangible fixed assets - Debtors due after more than one year 18,750 Current assets 349,182 Creditors due within one year - Total 367,932 Analysis of net assets between funds - prior period Unrestricted funds 2023 £ Tangible fixed assets - Debtors due after more than one year 18,750 Current assets 268,078 Creditors due within one year - Total 286,828 |
Income £ 74,082 - 2,500,330 2,574,412 Restricted funds 2024 £ 534,299 - 1,584,724 (900,277) 1,218,746 Restricted funds 2023 £ 610,272 - 706,162 (96,489) 1,219,945 |
Expenditure £ (28,330) - (2,412,947) (2,441,277) Endowment funds 2024 £ 263 - - - 263 Endowment funds 2023 £ 832 - - - 832 |
Balance at 31 July 2023 £ 286,828 832 1,219,945 1,507,605 Total funds 2024 £ 534,562 18,750 1,933,906 (900,277) 1,586,941 Total funds 2023 £ 611,104 18,750 974,240 (96,489) 1,507,605 |
|---|---|---|---|
Page 26
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Deposit account interest (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities 20. Analysis of cash and cash equivalents Cash in hand Notice deposits (less than 3 months) Total cash and cash equivalents 21. Analysis of changes in net debt At 1 August 2023 £ Cash at bank and in hand 923,341 |
2024 £ 79,336 131,538 (52,589) (715,381) 803,788 246,692 2024 £ 149,677 1,017,949 1,167,626 Cash flows £ 244,285 |
2023 £ 133,135 125,196 (17,054) 13,643 (528) 254,392 2023 £ 59,191 864,150 923,341 At 31 July 2024 £ 1,167,626 |
|---|---|---|
Page 27
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
22. Pension commitments
The Charity contributes to a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £22,461 (2023 - £24,746). Contributions totalling £4,524 (2023 - £5,042) were payable to the fund at the balance sheet date and are included in creditors.
23. Operating lease commitments
At 31 July 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years |
2024 £ 136,056 419,603 813,750 1,369,409 |
2023 £ 136,056 480,659 888,750 |
|---|---|---|
| 1,505,465 |
24. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.
Page 28
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2024
| Income Tuition fees Donations Gift Aid Grants Other Deposit interest Less: Charitable activities Trustees' salaries Trustees' national insurance Trustees' pension contributions Salaries and wages Staff national insurance Staff pensions Agency staff Direct expenses Total charitable activities |
2024 2024 £ £ 2,526,282 56,825 597 4,551 1,700 52,589 2,642,544 84,583 10,417 440 1,485,315 120,649 22,021 349,041 55,759 2,128,225 |
2023 2023 £ £ 2,455,238 80,688 7,360 11,392 2,680 17,054 2,574,412 80,000 10,920 - 1,570,457 134,608 24,746 223,197 57,485 2,101,413 |
|---|---|---|
SNOWFLAKE SCHOOL FOR CHILDREN WITH AUTISM LIMITED
(A Company Limited by Guarantee)
INCOME AND EXPENDITURE ACCOUNT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024
| Support, management, governance and finance costs Travelling Cost of generating funds Telephone Printing, postage and stationery Advertising IT expenses Subscriptions Bank charges Auditors' remuneration Accountancy fees Rent, rates and water Light and heat Repairs and maintenance Cleaning Insurance Sundries Depreciation of fixed assets Total support, management, governance and finance costs Total expenditure Surplus for the reporting period Surplus brought forward at 1 August 2023 Surplus carried forward at 31 July 2024 |
2024 £ 4,520 3,206 4,505 5,186 4,598 9,151 11,455 101 4,200 6,536 138,972 14,503 5,399 52,153 37,267 1,693 131,538 |
2024 £ 434,983 2,563,208 79,336 1,507,605 1,586,941 |
2023 £ 6,252 1,313 4,928 5,893 4,232 6,545 8,196 113 4,200 7,093 67,579 14,988 5,702 51,649 24,811 1,174 125,196 |
2023 £ |
|---|---|---|---|---|
| 339,864 | ||||
| 2,441,277 | ||||
| 133,135 1,374,470 |
||||
| 1,507,605 |
SIGNATURE CERTIFICATE
Document
Name Snowflake School For Children With Autism Limited - Full acc Creator Nicole Meho (nicole.meho@sopherco.com) Date 07 January 2025 16:08:40 UTC Identifier dc4128ed-71f9-45c4-a46e-4b95b7a64afd
Signers
faryaneh@snowflakeschool.org.uk
E-mail faryaneh@snowflakeschool.org.uk Signed 07 January 2025 16:34:03 UTC IP address 213.123.186.154
S O P H E R + C O Chartered Accountants
S1575/SMI/LN1
7 October 2024
The Trustees 10-14 Crown Street London W3 8SB
Dear Sirs
Snowflake School For Children With Autism Limited
The purpose of this letter is to give you an overview of the nature and scope of our audit work in relation to the financial statements for the year ended 31 July 2024. It is supplementary to our letter of engagement dated 01 October 2022, which sets out the respective responsibilities of auditors and trustees. We have reviewed the letter and consider that it remains appropriate for the current year's audit.
Audit approach
Our audit will be conducted in accordance with International Standards on Auditing (UK) (ISAs (UK)).
When planning our audit work we consider both the risk inherent in the financial statements themselves and the control environment in which your charity operates. We then use this assessment to develop an effective audit approach.
Significant risk areas
Based on our knowledge of the business we have concluded that charitable income recognition represents an area that requires special audit consideration and this has been taken into account in planning our audit work.
Limitation of work in relation to areas identified as lower risk
Our audit work is designed to provide us with sufficient audit evidence to conclude whether the financial statements are free from material misstatement. Our audit work may not examine areas of lower risk in details and our audit procedures are not designed to detect immaterial fraud or error. If you require detailed investigations to be undertaken in any particular area, please inform us and we can arrange to do this as a separate engagement.
ACCOUNTANCY • AUDIT • TAX • THE PRIVATE OFFICE 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD. Tel +44 (0)20 8207 0602 Also at Berkeley Square, London www.sopherco.com enquiries@sopherco.com Original practice founded by Ivan Sopher in 1975
Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales. Sopher + Co is the trading name of Sopher + Co LLP, a Limited Liability Partnership, whose registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD. Details about our audit registration can be viewed at www.auditregister.org.uk for the UK under reference number C003871599. Members - Mr Daniel Sopher FCA, Mrs Joanne Zmiro, Mrs Helen Sopher, Mr Stephen Iseman FCA, Mr Martyn Atkinson FCA, Mr Sean Brennan FCCA, Ms Hazel Young FCA. Mrs Judy Higgins FCCA, Mr Sanjay Bathija FCCA, Mr Benjamin Grunberg ACA
S O P H E R + C O
Fraud
ISA (UK) 240 "The auditor's responsibilities relating to fraud in an audit of financial statements" requires members of the engagement team to discuss the susceptibility of the entity's financial statements to material misstatements due to fraud.
This standard does not change the responsibility for the prevention and detection of fraud that still rests with those charged with governance.
It does however require the auditor to make enquiries of management and others within the group on the following:
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Management's assessment of risk that the financial statements may be materially misstated;
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Management's process for identifying and responding to risks of fraud
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Management's communication with those charged with governance regarding its process for
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identifying and responding to the risks of fraud;
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Management's communication with employees regarding its views on business practices and
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behaviour; and
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Management's knowledge of actual, suspected or alleged fraud.
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We will require written confirmation of these matters and confirmation that you have provided us with the required information will be included in your Letter of Representation.
Independence
The following non-audit services are provided to the company: preparation of the financial statements and payroll.
Sopher + Co LLP has established safeguards to mitigate the threats posed by the provision of non-audit services including, where necessary, the use of separate teams and additional quality control procedures through the use of a second, independent Responsible Individual as part of the audit.
In our opinion, taking into account the operation of safeguards where appropriate, the provision of the above services has not constituted a threat to our independence as auditors.
This is the second year Stephen Iseman is acting as the Responsible Individual (RI).
S O P H E R + C O
Findings from the audit
We expect to communicate the following to you:
(a) Expected modifications to our report
As you would expect we would discuss these fully with you, to ensure that you are aware of any proposed modification and the reasons for it, and also to ensure that there are no disputed facts and in order that you can provide us with further information and explanations in respect of any matters giving rise to the proposed modification.
(b) Unadjusted misstatements detected by us
As you are aware, when misstatements identified by us are not adjusted we communicate all such unadjusted misstatements, other than those we believe are trivial, to you and request you to make the adjustments. Where you do not wish to make some or all of the adjustments, we shall discuss with you the reasons for, and the appropriateness of not making those adjustments, having regard to qualitative as well as quantitative considerations and consider the implications for our report of the effect of misstatements which remain unadjusted. We would also consider whether any adjustments of which we are aware should be communicated to the Board as a whole. We are required to obtain a written representation from the trustees that explain your reasons for not adjusting any misstatements brought to your attention by us.
(c) Material weaknesses in the accounting and internal control system
We will report to you any observations we may have regarding your systems and other appropriate matters. This report will focus on any system weaknesses or inefficiencies that have come to our attention in the course of the audit and therefore will not necessarily cover all of the weaknesses that may exist in the system.
(d) Qualitative aspects of accounting practices and financial reporting
During the course of our audit, we consider the qualitative aspect of the financial reporting process, including items that have a significant impact on the relevance, reliability, comparability, understandability and materiality of the information provided by the financial statements.
Trustees' remuneration
The Companies Act 2006 requires additional disclosure to be given in relation to Trustees' advances and credit transactions. We will require written representation of any Trustees’ remuneration disclosures within the accounts which will be included in your letter of representation.
S O P H E R + C O
Related parties
In order to comply with ISA 550 "Related Parties" as auditors we are required to perform audit procedures to identify, assess and respond to the risks of material misstatement arising from the entity's failure to appropriately account for or disclose related party relationships, transactions or balances. In order for us to do this we will review your procedures in relation to these transactions. To aid this process we would ask you to fill in a questionnaire, a copy of which is included in Appendix 1.
If you require any clarification of any of the matters referred to in this letter, please contact Stephen Iseman.
Yours faithfully
Sopher + Co LLP
Enc
S O P H E R + C O
Appendix 1
Related Parties Questionnaire
In order to comply with ISA 550 "Related Parties" as auditor we are required to identify and review related party transactions. In order for us to do this please provide us with the information below, in respect to related parties and transactions undertaken during the year with these related parties (see definitions below). The information is required irrespective of whether a price is charged.
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The following is a list of related parties known to us. Please identify any that have changed during the year (new or no longer related).
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Faryaneh Akhavan – Director
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Shahrokh Bagherzadeh – Director
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James Simon Cheethem – Director
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Ardavan Farmanfarmaian – Director
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Mahnaz Kamel – Director
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Amin Mohammad Manzouri – Director
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Faryaneh Akhavan is a director of 37 Gunterstone Road (Freehold) Company Limited
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Shahrokh Bagherzadeh is a director in the following companies:
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Jadebricks (Charles Street) Ltd
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Jadebricks London Ltd
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Jadebricks Manchester Ltd
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Armani Hotels Limited
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17-22 Trevor Square (Management) Company Limited
-
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Ardavan Farmanfarmaian is a director in 39 Lennox Gardens (Freehold) Limited
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Please give details of all transactions with related parties. The disclosure should include:
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a) the names of the transacting related parties;
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b) a description of the relationship between the parties;
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c) a description of the transactions;
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d) the amounts involved;
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S O P H E R + C O
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e) any other elements of the transactions necessary for an understanding of the financial statements;
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f) the amounts due to or from related parties at the balance sheet date and provisions for doubtful debts due from such parties at that date; and
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g) amounts written off in the period in respect of debts due to or from related parties.
Transactions with related parties may be disclosed on an aggregated basis (aggregation of similar transactions by type of related party) unless disclosure of an individual transaction, or connected transactions, is necessary for an understanding of the impact of the transactions on the financial statements of the reporting entity or is required by law.
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Please provide details of any affiliation of trustees and key management with other entities.
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Please provide the names of all pension and other trusts established for the benefit of employees and the names of their management.