REGISTERED COMPANY NUMBER: 07998357 (England aDd Wales) REGISTERED CHAIUTY NUMBER: 1149061 REPORT OF THE TRUSTEES AND UNAUDrrED F￿¥ANCIAL STATEMEIYTS FOR THE YEAR ENDED 31ST AUGUST 2020 FOR CARDIFF STEINER EARLY YEARS CENTRE LTD "A451FAFK* 2910512021 COMPANIES HOUSE CABDIFF STEINER EARLY YEARS CENTRE LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 21120 P•ge Report of tbe Trnstee5 Tru$tees' Responsibility St*iement 10 Ind¢p¢ndent ExomiDv's Report St#tement of Financial Aetivlties 12 B#lAllte Shttt 13 to 14 Casb Flow Siaiement 15 Notes to the Czsb Fjoiy St*leme*t 16 Notes to the Finameial st*tell￿nts 17 to 23 CARDIFF STEINER EARLY YEAILS CENTRE LTD (REGISTERED NUMBEIL. 07998357) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 The Tntsiees of the charity are also Dirttiors of the Company foT th¢ purposes of wmpany law. TnLStees who served duTing the year and their dates of appointrncnt were ￿ follows.. Ms B A BoweD- Chairperson appointed May 2018 (appointed March 2012, reI is accredited and licen¢ed to offer the New Z£aland C¢nificate of Siein¢r Educaiion (NZCSE) a$ our Upp¢r School qualification from LEvcl I to Level 3 (age 16 to 18119s). The Certificate is the firsi trans-naiiooal. secondary school qualifJ¢aiion to be fvlly based on the Steiner curriculum. li is a reco8nised and innovative qualification thai allo￿ swdents io progre5S to furtherthighcr education. The NZCSE Wds introduced into the UK in 2012 and is now the most widely offered qyalificaiion in UK Steiner Schools that offer a full K-class 12 Steiner educatio 2019-20 was the second year of tbe School offering the NZCSE, with styd¢nts progres5in8 onto tht Ixvel 2 qualification. The pioneer upper school class showed great self tDotivaiiofy self-directioD and adaptability, both PTior to and during lockdown, demonstrating l￿W strong as indtviduals as well &$ wllectiv¢ly they have become. The strucwre of the NZCSE, focusing on ongoing assessment. was particularly well suiied io adapt to the pandemic - with all OUT Class I I pupils achieving their iEvel 2 quo1ifi¢arion in July 2020. The School was in regular contaci with SEDT. who manage the NZCSE, to ensure our Upper School pupils could continue without disruption. The ongoiJJg building Works cotstinue io improve the learning experiences for our students. with the new ￿Le￿e la￿￿ttsry rnisitig the profile of science in the Curriculum whi¢b was refiected in the attl￿de of the S￿dents ￿ this area of study. LA>wer School made strong progress in Co￿4)[1d311llg ils teaching team with several new staff me[￿be[& under the leadership of the new Education Coordinator ttppoinied in March 2019. This included embedding the new pupil progress trackmg sysiem and mgdcration process4 to illwve analysis of trends arwj pick up on areas for f(Kused improvemenL February to Au8usi 2020 w&s a challenging time for the School with the impact of the Covid-19 global pandemic. The School buildings had to ¢los¢ to ail but essentsai workers from 21 March to 28 June. Staff and TnLStees were proactive, flexible and creaiive in working together to overcome the challenges this presented and w reduce th¢ impacl on t¢a¢hiDg. learning and fillances. The S¢hool moved quickty io ooIine learning envir01kn￿nt to eALsure conrinuiry of learning and pastoral support. usrn8 the G-Sui¢e for education platfomi from Google. Teachers were imlovative in tr￿1r use of G-suite aThJ all sub)￿ts (except woodwork and outdoor curriculum) were able to mtsve online. with pra¢tical and creative approaches used in Music. Movement and Handwork. Robust steps weTe taken to enwe a safe OD]ine learning enviwnment. including a new. stture IT infrastsiLCture using graut Inonies Tec¢ived tbe previous year. with all additional £5,IYXI of in-kind th>Dated services from an IT professioual within the SclKK)I con]muniry. Their generous Sup1￿ allowed u5 to in8tall a significantly more robust #lld powetfvl infrastructure than planned, vthich fvture-proofed the School for increased IT use ovcr the coming years. Marty features of the online learnirtg platfom], in¢rodu¢¢d as a response to ¢risi4 will continu¢ to be wfvl. providin8 a coh¢5ive experience b¢tween the classroom and home work for Middlejupper SCI￿1 students. The School is rightfully proud tsf its online delivery during this penrf particularly as a traditionally'low-ie¢h' sthool. Our 'Beyond the Classroom, progrdrnme put us in the top 2 /0 of schools in Wales in *nns of live lesson delivery. Addiiionally. our ¢reaiiv¢ delivery apprtsaehes - such as daily on-line movement clas￿. live S￿la] sessions for p*ents, blended approa¢hes to early years learning and 'Stitch Sioty Proje¢1 - were sttior leading in enabling ￿ to continue our rich curri¢ulutn journey, provide academic, social and emotional suppory a keep alive a sense of communiry duTing this unique iirne. Online pupil and parent surveys were sed to improve our ￿tY0nd the Classroom, provisi¢)n and feedback from parC￿ts and pupils was very positive with pmts ¢xpressing heartfelt appreciation for th¢ contithuity the Sch(K)I w&$ PTovidiD& Page 2 CARDIFF STEINER EARLY YEARS CENTRE LTD (REGISTERED NUMBER: 07998357) REPORT OF THE TRUSTEES FOR THE YEAR ENDED JIST AUGUST 20211 twkdovrn did provide the oppOrti￿lty for the School to make greai strid&8 with its building developtnent project {with appropriat¢ social distancing, health and safety, hygiene and safeguardinE in p]xe). After assessing the maintena￿¢ aJ]d building programme, as part of a revi¢w of outgoin8S ID reSpO￿￿e to the p￿MiC. the School decided to coniiDue with essential remedial works and Wbth building developmeni using wrs Tweived and held for this purTx)se. These included cornpletion of the new SCIe￿e IAboraiory, COnSttlLCtion of the new Music Room and the new HandworWArt Room. The School also o)tttinued with its renewal programme on repoiniing and roof renewal amd undertook extensiv¢ strucnwal rePa￿S to nvo ¢lIssroo￿. The School ¢xtended its use of specialist l(Kal sporting facilities down to Cla&8 516 Students foT their weekly Games lessons, in line with tbe S¢hool's lrnprovement Plan. These off-siie facilkties increased the scope for large group aNI i¢am games for SnLdenLS heltd wp&KJrt lthning Outeomes for the Cern"ficatr of Steitier Education (NZCSE). The School also investcd iti fjxturcs and equipment using grdnts received and held for thi.s purpose in 2018-19 arjd a new Covid grant received Èn 2019.20 - i￿]uding equipment lor Art. GamesNovement. Music and IT. KllJderEarten ha￿jwaSh sinks and n¢w furniture, and equipping the new Class I cl&woom as a knovabl¢ cl&ssroom'. The School invested further in sthffing to wport its expansion with an additional full-time Upp*rlMiddle School Tea¢heY starting. n post in SeptembeT 2019, and an additional fvll-tim¢ Lower S¢lM)ol T￿h¢r and Upper School Learning Support Teacher. starting in January 2020. OtheT speciali51 Subject Teacher. le4rning support and ryround care roles were also increased in line with the expanded provisioll. The first phase of implementhiion of our new Swdent Inf0m￿tiOn S￿leM, BigSIS. was completed the first School Reports were made available to parents online. The system had made huge Improvemen￿ io dats management and comnwrrications and re￿)ning io parents. as well as efficiency savitigs in admim"stration and ieaclung strff time. The School cornpleted its first year of thc Restorative Approxhes in Schwls (RAIS). Progra￿ njn by Wale5 Restorative Approaches Partnerslll'p IWIW). The move to being a Restorative S¢1￿] is an ongomg journey and the inili31 pilot stsg¢ began with a f(Kus on creating a positive karnthg eDviroTunen¢. with good progre&s made cut short by lockdown. The focus in the corning year will be to pick back up the initiative with a fiwther period of workm8 review and refU￿m￿li. and across broader areas of the School's work During the year the charity rdn three Parent and Toddler Groups 5cfviD8 approximately 60 families at a community I￿ariOn next to the School. Parents reported that th¢y felt w¢lcomed and valued by th¢ Group Lzaders and benefited from their support and uidanrx, as well as th¢ fn'endship and cowioA5hip of other parcnts. Together with our two Kindergartens for children aged 3 10 , and School Clasw from age 6 to 17, the S¢hool provided Steiner Waldorfeth￿aIi0n to approximately 200 fami.lies from Cardiff nd South East Wales. The S¢h(M)l ¢ontinued to aitract incre8sing numkn of fami.lies movin8 ￿ Cardiff temporarily or permanently from other parts of the UK and overseas. The School has a diverse. intrrnatsonal faculry and stud¢Di community and proudly see themselves as a beautifijlly international. Welsh school, celebyating this (Juring the year with a range of festivals including th(trse that reflect the backgrounds of our diverse farnilies. Partnership working made a positive contribution to provision for p4)1￿ afid io a w￿e rdnge of valuable development opwTrrtimities for stsff. The NZCSE is liccnced by the Sieiner Education Ikvelopment Trust Limited (SEDT) who manage and develop the NZCSE for use in New Zeaiand and transnationally. As an Accredited Provider. the School reeeives training for teachers in QMS prttesses and qualiry assured assessment practices and staff attend narional coordinator cluster meetings as well the annual Certificate of Steiner EdU￿tiOn IDternauonal Conference. Tlje School has also esttblished supp)rtiv¢ partnerships with the other UK Steiner School offering tbe NZCSE. including S￿rIng ￿urCeS and moderation expeni5e. The School benefited frorn its partslership with other UK Steiner.schools. the SteinEr Waldorf Schools, Fellowship. and Wales Re￿oratIve Approaches Partnersm'p. Many paren￿ and often their child's extended farnily, were directly involved in the Scbool's wth. Tbey successfully undertook volunteer roles tncluding running the SclMK)I Shop, cultivating and developing the S¢1￿],s grounds, supwjrting pupils, learning in the School, in addition to Orgatiising and participaiing in fiuhthaising events. Tb¢5e activiues showed th¢ strong ¢on]mitment of parents artd staff to the ckn'ldren's educaiion and their support in helping the S¢hwl w grow and develop. The SclKM)l is a ¢lose-knir community, with ? shared understanding of the chariWs ain￿ and etho4 w￿"¢h has a positive impact on education. Pag¢ 3 CARDIFF STEINER EARLY YEARS CENTRE LTD (REGISTERED NUMBER: 07998357) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 21120 The School continued to offer open events and tslks on thenjes linked to education, families and child developmellt. Link% with the local Community are important and the School actively sought opportunities to be involved, and involve. the commurrity in the life of the School. Our events programme in¢lud¢d an Early Year5 Open Morning and Upper School Open Evening. aJon8side nJonth]y Visit Momings though these were inevitably cijnailed by lockdown. These are oppotnmitie5 for the public to learn more al￿t the Schix>l and its work, be they prospective parents and chil¢Jren, or leache￿ and trainee ieachers. The Tr￿￿teS wish to record their thanks to the whole School c0rnll￿ty for their incrnjible support and encouragement in this difficult year. With the panicipation and 8ood will of parents: the resilience, p)sitive attiNde and engagemettt of the pupils. and the dedication and Con￿nitMent of the faculty and staff, th¢ School w&s able to ¢oDtinue its rich Cu￿1c￿luM journey* provide a¢ad¢mi¢, social and emotional SUPPOTL and a keep ￿]ve a sense of cotnmunity during this unique fim¢. Through a challenging year, it demonstrated cleaTly th¢ insightful and joyous Datyre of an education thai is powerfully alive. meaningful and carefully designed to meet the needs of the growing ¢kn"Id. The TnLSW and honour each and ¢very individual and Coll￿(1Ve aGt that has contributed towards this. Thank you. F￿ANC￿ REv￿w Review of finanees Tlwe are th¢ accounts for Cardiff Steiner Farly Years Centre Limited (CSEYC) frorn I Septernb￿ 2019 to 31 August 2020. General Fund The main fuwi¢ial aim of the ¢barity is io ensure the core n￿￿l￿g costs of the School are rnet by core incorne source5 in order to. support the charitable aims. These core income sources are fees and ren￿1 income from hire spac¢s. The Ststemeni of Financial aciivities for the year shows a swplus of £25,048 (£36,642 in the previous ye4r) ¢omprising £5,048 wjrestricted and £20.000 restricied for i￿nIng and expended resources. This is the seventh successive year of surplus. and the Tn]stees consider this an excellent achievement for the charity in its eighth yeAr of operarion, during a p¢riod of an unpreeedented Elobal paTJdetTtic, and with ongoin8 exparEsion to offeredu¢aiional provision up to age 18 by S¢p 2020. As a small school dedieated to social iticlusivity clwi.ty prudently manage finaM io make a small sutplus sufficient to Jnaintain an appropriate reserv&% fijnd. This rDeaLs that the School 15 sensitive to the type of economic Challenge the pandemic presented. The School acted quickly to e￿sure the financial security of the S¢1￿0] with a con)bination of rapid transition to a full remote learnin8 pro8fdmme' savings on outgoings" utilising the government's furlough scheme judiciously so it did not ttnpact continuity of academi¢ and p&storal support and the core nu]ning of the Schty)I" and collhtnwiicating with parents with ly)nesty and transparency to request their support through continued fees pa￿ts throughout the extended lockdown period. with opts¢)ns for sthged payments. The Trustees would like to record their heartfelt grdtiude to the School's parents and carers for their dedication, generosity. unwavering supwt and encouragemeni, who, th'le facing llnprett￿ economic challenges, ¢ontÈnued to support the School and were ¢n￿la1 in s¢curing its ongoing fJnatKial l*alth. Net ¢UTm)i a5s¢ts sthnd at £535,917 {£520,226 the previou5 year} wmprising £424.113 in fixed ass¢ts (£366,568 the previous y￿) amd £214.143 ID cash ai bank and in Iwld and debi owed to the clwiry (£274.454 the previous year), with amounts falling due within l year of £102,339 (£120.796 the previous year). After amounts falling due after more than one year and deferred Brant income the total fijnds of the charity are £302.898 (£260.357 utr&skncted and £42.54] restricted) up from £277,850 the previous year. FUTURE PLANS The aims and key objèctives for ¢JevelopnKni at the end of the period i￿]uded io ensure the ongoing fman¢Ral health of ￿ School ". during the ongoing global pandemic. to Cotllplete the final sthges of fimded initial buildttig developmeni io facilitsre the Upper. Sehool though to age 18 and improve space for Additional LurniDg Need provisiw ￿ begill planning and fimdraising for the second stage of building development. and to COOs01idate staffing arml resou￿ to deliver the expansion to Level 3 of the NZCSE in 2021N21. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing dfj¢uffj¢nt The charity is controlled by its governing documertL a Memo￿ a￿1 articles of aswciatson. and constitutes a limitd company, limited by guaraniee, as defined by the Conyt)ies Act 2￿6. Page 4 CARDIFF STEINER EARLY YEARS CENTRE LTD (REGISTERED NUMBEIL. 07998357) REPORT OF THE TRUSTEFS FOR THE YEAR ENDED JIST AUGUST 2020 STRUCTURE. GOVERNANCE AND MANAGEMENT OrgaDls#tlonal strveture Cardiff Steiner School is a self-admini5tered, couaboratively led itLstilutiOn. Its leaderskn"p is divided a¢ro&s three groups, each responsible for a specific realtD of deci5iOD making - th¢ Collese of Teacber5. the BoaTd of Trustees aThd AdtDittiStration - with the School Managemeni Team managing the ongoing operations and developnxnt of the S¢knl. This approa¢h reflects the holisti nature of Steiner education, and while athninistsatively nhore con4)lex, allows for greater comrnunal responsibility. Each group Strives for thoughtfijl Inde￿dence. upholds its own work. recwses wbere T¢s￿nsIbIlitieS ov¢rlap. understsnds when an iss falls to another group. and work8 with the otheT groups with IM)nesty and iniegrity. The Board of TnLsl¢¢s - are respoD5ibl¢ for overail governance. and carry rwibility for the legal go(Ml-standing"and. financial well-being of the School, and ensure thai the ¢han"ty fillfils its chan"rable objectives. The College.._ the School does not hav¢ a head teacher. but instead ieachets slw¢ rtsponsibiliti¢S atrj work together.in non-kn"erar¢hical '¢ollegiate'. The College are responsi￿le for pedagogi￿] goveman¢e - for rnatters thai directly relate lo the classroom and the teaching of tbe children. i[￿]UdIng pedagogy. curriculum developm¢nL assessment and the D)en￿rIng attd evaluaiion of teachers. Admitllstratiott - is made up of the School Administrdtor and SCR￿1 Business Mattager. Admim"stration hav¢ responsibility for businessladministrdtivt operdtions, regulatory compliaDce, maTMgin8 Contact with outside individuals and agencies, Mark￿]ng, communications. admissionslcnroiment, facilities and furthisingldevelopment. Th¢ School Management Team ISMT) tDanages the ¢)ngoing operaliorL5 of the School- c(Mxdinating. moni￿rIng and rcviewing the implementation of the School Development and Improvements Pla￿5 and the activities of the varRous spbeTes of the School. Responsibility for monitoring and evaluaiing the effe¢iTvene$5 of the overall Scbool Improvement Plan is the responsibility tsf the Board of Trustees, working with the S¢hool Managetneni Team, to eAsure that the School delivers a good qual?ty of education in line with its charitable aims. Other cross*group mandaied committees and ￿sk groups have TeswLsibiliry for specific a¢iivities of the School. Each of these operdtes a5 a mandated or delegated group under the dÈrection of one of the ai¥)ve•meDtioned bodies. The Schotsl Business Manager 15 delegated by the Tr￿stee$ to devel￿ and manage fiDancial p)licies artd prnctices for the School including the following areas. ' managing fjnancial w)It¢ies and praciices foT the School ' financial planning, budgeting and nKtrnitoring ' annual budget. fees. salary and bertefit review ' developing. ￿anagIng and implemertfing (he Bursary Scheme fee and debi collection . The Sch(M)l Business Manager reports dircctly to the Ttusteffj who arr responsible for the fllwicial oversight of th¢ clwi"ty, with all twste¢s playing an active role in this. Page 5 CARDIFF STEINER EARLY YEARS CENTRE LTD (REGISTERID NiJMBER: 07998357) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST AUGUST 2020 STRUCTURE, GoVER￿ANcE AND MANAGEMENT Risk JnJDagementlReserve fuDd The tyusiees have a duty to identify and rcview the risks to which the charity is expos￿ and ￿ ensure appropriate ¢oatrols"are in place io provide reasonable assuratte against fraud and error. The T￿￿$tee5 have reviewed the major risks to which the cbarity is exp)5ed atMI systems bave been establisl*d to manage dmise .risks. The main fJnan¢ial risk io the charity is ¢onsidered w be unexpected si￿)1fiCant loss of income or unbudgeted expenditure. Total funds al year end were £302.898 (£260J57 unrekncted and £42,541 restri¢ied), up from £277.850 (£274,377 unrestricted . aT]d £3.473 restricted) in the previous year. ThJ"s includes unrestricted cash at bank a￿1 in hand and debts owed to tbe eharity of £131,249 representing approx. 2.5 months of COTe opernting Costs. . The T￿￿tee5 consider that, given the Strength of the chariws balartce sheei the careful and pruda)( moniioring offmances, logether .with stsble cash t]ow from fees, effective marketin8 aThJ smdent recTUitment activkties, and the awdhlable baJ]king facility thai Can be 'called upon if need aris¢s, tbat there is no current rKed to build a larger cash reserve in the sl¥Jrt *rn). The Trustees recommend that, in order to rnitigate fUn￿e risK the charity should continue to work towar(Ls establishing casb Testhves of 3 months running ¢0$ts (£165,126} within the nexi 5 years. Pensioth Fund *nd Liability .The Charity use NEST for their workplace pension scheme. NEST is set by the UK gov¢n]meni and nm by NEST Corporation. a non4epartmental public body. The chariry dcdu¢ts and pays pension contributi I report to the charity truste￿ on my exwnination of the accounts of the Company for the year ended 31st August 2020. RespoD5ibilitiu buig of report s the charitys t￿￿te¢S of the Company {and also its director5 for the pur[￿$ of company lawl you ale trsp)nsible for the preparation of the accounts in accorda￿¢ with the requIrem￿ts of the Conwies Act 2006 ('the 2006 A¢f). Having satisfied myself thai the accowjts of the Company are noi required io be audited under Part 16 of the 2006 Act and are eligible for ￿￿dePendent examination, I report in respeci of my examinaiAOn of your charl￿$ accounts As caTTied out wjder section 145 of the Chariiies Act 2011 ('the 2011 Act.). In carrying out my ¢xan)inatson I have followed the Directi¢)ns given by the Charity Commi&8ion under section 145(5) (b) of 2011 ACL Indep¢Ddent exarnintr'$ stateJDent Sit)ce YOUT ¢haTitys Eross in¢om¢ eXcttd￿ £250.OW your examiner must be a member of a Ilsted IKYJY. I can confirm thai l am qualified to undertake the examinaiion btr2use l am a regxstered member of Chartered Accountants which is one of the listed bodies. I have Complet￿ my examinatioL I ￿nfim1 that no matters have come io my attention ID COnn￿￿On Thith the examinatiort giving me cause to believe: accounting records were TKSI kept in respect of the Company as requiThl by section 386 of the 2LI)6 Act: or the accounts do not accord with those records" or the a¢¢ourtts do Dot comply with the accountuw requireM￿ts of section 396 of the 2006 Act other than any requirement that the accounts give a tn￿ and fair view which is not a Matter considered as part of an independent examination. or the accounts have not been prepared in accordatlce with the methods and principles of the Statement of Reconunended Practice for acxouoting and reponing by chariti¢s (applicable to charitie5 preparing their accounts in accordance with the Fir￿￿la1 Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102)). I bave no wn¢¢rns alld bav¢ conr a¢ross Th) other roattus in ¢onoxixon with th¢ examination ¢0 whith attentlOD should bE dravm in "s rewjn in order ￿ enable a Proper understsnding of the X£OUDts to be reache41 Jol)ns Jones and Lo Limited Chartered A¢¢ountants Date.. Pa8ell CARDIFF STEINER EARLY YEARS CENTRE LTD STATEMENT OF FINANCIAL ACTtvwriES FOR THE YEAR ENDED 31ST AUGUST 2020 2020 Totsl funds 2019 Total fimds UDTestricted Restricted Note5 INCOME AI¥D EfiDOWMENTS FROM Donati0Th5 and legacics 21.604 24.632 46,236 40.233 Charitable aetlvitles Parent and toddler School Fees Kindergarten fees. Wraparound care Hall hir¢ 1,623 441,713 156.714 12.872 3,915 1.623 441.713 156,714 12,872 3,915 2,972 499,141 166,793 20,807 4,913 Other ￿ndraiSing activities Other income 2,735 IOJ43 2.735 10,343 8,193 Total 651,519 24.632 676.151 743,052 EXPENDrruRE ON Charitable activities PupAI Expense Establithmeni expense Bursaries awarded Sibling discounts Administration expenses Staff costs Staff discounts Govemance Fundw'sing and publicity 36209 59,825 15,501 40,119 29,407 412.849 17.538 3.357 15.497 36.209 59,825 15,501 40,119 29,407 412,849 17.538 3,357 15.497 53,866 81,484 22,654 49.003 50.790 385,294 24,844 18,837 5,005 Other 16,169 4,632 20.801 14.633 Total 646,471 4.632 651,103 706,410 NET llYCOME 5,048 20,0 25,048 36,642 Tra•$fers between fuDds 18 (19.068) 19.068 Net movement In fuDd8 (14,020) 39.068 25.048 36.642 RECOI¥CILIATiof4 OF FUNDS Total funds brought forward 274.377 3.473 277.850 241,208 TOTAL FUNDS CARRIED FORWARD 260.357 42,541 302.898 277.850 Tr notes fonn part of these fiDancial statem¢nts Page 12 CARDIFF STEINER EARLY YEAILS CENTRE LTD OiEGISTERED NUMBER: 07998J5 BALANCE SHEET 31ST AUGUST 21120 2020 Totsl fi￿dS 2019 Total fimds fimd Notes FIXED ASSETS Tangible ass¢lS 348.672 75,441 424,113 366.568 CURRENT ASSETS Debiors Cash at bank and in hand 12 29,747 101,502 29,747 184,396 27.098 247.356 82.894 131249 82,894 214.143 274.454 CREDITORS Amounts fallitig due within orte year 13 (102.338) (i) {102J39) (120.796) NET CURJiEf4T ASSETS 28.911 82.893 111,804 153,658 TOTAL ASSETS LESS CURRENT LIABILTnES 377J83 158J34 535.917 520,226 CREDITORS Amount% falling due after more than one )taT 14 (117226) (117226) 1125.202) ACCRUALS AND DEFERRED INCOME 17 {115.793} (115.793) {117,174) NET ASSETS 260,357 42,541 302,898 277,850 FUNDS Unrestrieied fimds ReslTieted funds 18 260.357 42.541 274.377 3,473 TOTAL FUNDS 302.898 277,850 . The ¢haritsble company is entided to exemption from audit under Section 477 of the ConwaDies Act 21￿6 for the year ended 31st August 2020. The members have not required the Company to obtain an audii of its financial Sta*n￿n￿ for the year ended 31st August 2020 in a¢cordanc¢ Section 476 of the Cornpanies Act 2006. The tnJst¢es acknowledge their Tesponsibilities for (a) en$urll￿ tha( the ch￿l￿ble Company keeps accouAtxng re￿rdS tbBt comply with Sections 386 and 387 of the Con2panies Aci 2006 and preparing fu)ancial statements wthich give a true and fair view of the srate of affair5 of the ¢h8ritable ¢ompany as at the end of each fll]an¢ial year and of its su￿luS or deficit for each financial ycar in accordance with the requ1￿ments of S¢ctions 394 and 395 and which otherwise cornply with the requirem￿ of the ConJpa)ies Act 2￿6 relating ￿ fuwi¢ial statements, so far applicable to the clwithble company. (b) The notes forni part of tlkse financial ststements Page 13 CARDIFF STEINER EARLY YEARS CENTrE LTD (REGISTERED NUMBER: 07998357) BALANCE SHEET- contiDued 31ST AUGUST 202 These financial slatements bav¢ be¢n pr¢par&4 in ￿0[danc* with the PTOViSi(Tr￿% applicable w clwitabl¢ ￿MpanieS subje¢t to the srnall ¢ornpanies regirne. The financial statements were approved by tbe Board of Trustres arKi auTfr#)n"sed for issve on............ signed on its behalf by-. 28rf...Zo..Zland .- B A C Bowen- Trusie¢ The notes foTh part of these fina￿1?] 5t#tements Page 14 CARDIFF STEINER EARLY YEAILS CENTRE LTD CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2020 2020 2019 Notes Cash flows from opeY8tlDg activities Cash gcnerated from operations 15.387 161.045 Net cash PTovided by op¢rntkng activiti¢s 15,387 161,045 Cash flows from investlng #ctlvities Purchase of tangible fixed assets (78,347) (26,573) Net ¢￿h used in investing aetiviti&q (78,347} (26,573) Change irt e*sh and ca$h equivalents in the reporting period Cash and tAsh equivalents #l tbe begiDniDg •r the reporting period 162.960) 134,472 247.356 112,884 Cash and e*sh equivalents at the end of the reporting period 184,396 247,356 Tbe notes form part of fittancial statements Page 15 CARDIFF STEIPIER L4RLY YEARS CENTRE LTD NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST AUGUST 2020 RECOt4CILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2020 2019 Net intome for the reporting period p¢r the St•teD*nt of FID¥*tl#l Activitie5 Adjustments ftsr: DepT￿latIOn charges Movement in cash atxl cL5h equhvalrnts Krease in debtors IDecreaseyincre8se in credito 25,048 36.642 20.801 (7,625) (2.649) (20,188) 14.633 (410) (14,987) 125,167 Net cash PTovided by oper•tion5 15.387 161.045 ANALYSIS OF CHANGES IN NET FUNDS At 1.9.19 Cash tiow Ai 3 1.8.20 Net c8$h Cash at bank and in hand 247,356 (62,960) 184,396 247J56 (62.960) 184,396 Debt Debts falling due witbin l ye2T D¢bts falling due after l ycar (57.630) {125.202) (57.6301 (117,226) 7.976 (182.832) 7,976 (174.856) Total 64,524 (54.984) 9.540 The noks form part of these fuw¢ial ststem¢nts Page 16 CARDIFF sTE￿£R EARLY YEARS CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIYDED 31ST AUGUST 2020 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial siatements of the charitsbl¢ ¢ompany. W￿"¢h 15 a public benefit entity under FRS 102. have been prepared in a¢cordan¢e with the Fit)a￿tal lietK)ning Stsndard 102 ' The Financial Reporting Standard applicable in the UK a￿d Republic of Ireland, alld the Conwies Aci 2(M)6 The financjal sthtements have been prepared the kn's¢orical cost convention. The presentation currency is £ sterling. INCOME All in¢ome is recognised in the Ststement of Financial A¢tsvities once the ¢barity has eDtidem¢nt to the fi￿d$, it 15 probable that the income will be received and the amount can be measured reliably. Grant income received for the purclwe of fixed &tsets is defe￿¢d aThl released to the profit and loss account to match with th¢ depreciation of the grani purchased ass¢L EXPENDTTURE Liabililies are recognlsed as exwditurc a5 soon as there is a legal or conS￿¢t1Ve obligation Committing the charity to that expet]dittire, li is probable that a traL8fer of economic benefits will be Tequired in serdement and the amount of the obligatitsn can be measured reliably. Expenditure is accounted for on an a¢cnJals basis and has been classified under headinss that aggrtgate all cosi related io the category. Where costs canriot be directly attributed to particular headings they have been all￿ated to activities OD a b&5iS COLSiStent with the w of resources. TAf4GIBLE FIXED ASSETS Depreciation is provided ai the following art￿￿1 raies in order to write off each awl over its estimated useful life. Freehold buildings - Strdight line 4% FIxn￿¢S and fittings- Straight line 2 Equipment- Straighi line iorA TAK4TION The charity is exempt from Co￿10￿ tax on its cljarithble activities. FUND ACCOUNTING Unrestricted fimds can b¢ ￿¢d a¢COrda￿¢ with the chari¥ble objectiTKS At th¢ di￿reti￿ll of the trustees. Restricted fimds can only be wed for pani¢ular restricted purpM)5e5 within the objects of the charity. Restrictions arise when specified by the donor or when funds aTe Taised for particular restri¢t¢d purposes. Further explanation of the nature and puryxjse of each fitsmi is included in the notes to the financial sthtements. DONATED GOODS AND SERVICES Donated goods and Servi￿ (includin8 volunteer time). are recogti1s￿ in donatio￿ and shown as expenditure attributed io the relevant Irdtur¢ of the 80(xls or servirx. Page 17 CARDIFF STEINER EARLY YEARS CEI¥TRE LTD NOTLS TO THE F￿Al¥CL4L STATEMEf4TS- eoJttiTru¢d FOR THE YEAR ENDED 31ST AUGUST 2020 DONATIONS AND LEGACIES 2020 2019 Donations 46,236 40233 OTHER FiJNDRAISING ACTIVITIFS 2020 2019 Fairs Other events and fimdrnising Sundry income 2.031 704 4.954 3.226 13 2.735 8.193 INCOME FROM CHARITABLE ACTIVITIES 2020 2019 Aciivxty PareDt and toddler Schwl Fees Kindergarten fees Wrdparovnd care Hall lure Parent and toddler Schty)I fees Kindergarten fees Wraparound care Hall hire 1.623 441.713 156.714 12.872 3.915 2.972 499,141 166.793 20,807 4.913 616.837 694,626 Included in unrestricted voluntary income are donatiorLS for marketing. maintetwice and ¢leatiing. valued 8t £18.985. (2019.. £20.684). Donated maykeiing services £10,200 {2019 £10.000) Donated Cl￿nIng services £3,785 (2019 £5.684) Donated IT services £S,0(M) (2019 Nil) Donated maititenance servitts £nil (2019 £5.(KKI) Gift aid anwunted io £Nil (2019= £Nil)-. During the year the Charity reryived restricted donati0Trs a￿1 grants of £23.253 (2019.. £123.074) as follo￿.. Funder l of £20.000 a beque￿ left for bursary OT.building Funder 2 of £3253 a grant for use of buildin8 or equipmeni of which all has been expended this period. DoDatLOrts and grants receivd in prior periods totslling £ 57.753 bave also been expended this financial period Grant irtcome received for the purclwe of fixed &wets is deferred and rel¢a5ed to the profit and Ios5 account to Match the depre¢iati¢)n of the grant purchased ￿￿1. Page 18 CARDIFF STEINER EARLY YEARS CENTRE LTD NOTES TO THE FIJ4ANCIAL STATEMENTS- £ontin•ed FOR THE YEAR ENDED 31ST AUGUST 21120 CHAIUTABLE Acr]VIT￿ COSTS Cos Pupil Expe Estsblishment expeLse Bursaries awarded Sibling di%ounts Administratson expemes costs Staff discounts Govemance Fundraising aDd publicity 36.209 59.825 15,501 40,119 29,407 412,849 17,538 3,357 15,497 630.302 OTHER 2020 2019 DepYe¢iaiion 20.801 14,633 NET INCOMEI(EXPEIYDITURE) Net incornel(expenditure) is ststed after clwginEI(cred1tu￿). 2020 2019 Depreciation. owned assets 20,802 14.634 TRUSTEESI REMUNERATION AND BENEFrrs The trustees th'd not receive any Temurteration for their servicu a5 trustees dyring the ye4r. TRUSTEES. EXPENSES Tntstees re¢cived expenses of £1 1.90 during thc period12019 Dil). Page 19 CARDIFF STEINER EARLY YEARS CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- eottdn•ed FOR THE YEAR ENDED 31ST AUGUST 2020 STAFF COSTS Staff costs duri￿ the year anKSUDts 2020 2019 Wages and salaries Socia] security Stsff discounLS Staff trdinin8 and developrnent 381,013 25,453 17.537 6.383 359,187 17,130 24,844 8,977 The average monthly number of ertEploy¢es durin8 the ytsr follows.. 2020 23 2019 23 A]1 staff No employee received emplo)re benefits of more than £60.LKM). io. COMPARATIVFS FOR THE STATEMENT OF FINANCIAL ACTivfTIES Unrestricted fund Restri¢ied Total INCOME AND ENDOWMENTS FROM Donaiions and legacies 34,333 5900 40233 Charitable aetivltie$ Parent and toddlcr School Fees Kindergarten fees Wraparound care Hall hir¢ 2,972 499.141 166.793 20.807 4.913 2,972 499,141 166,793 20,807 4,913 Other fimdraisiog acuviu¢s 8,193 8.193 Total 737.152 5.900 743.052 EXPENDITURE ON Charit4blt activltles Pupil Expense Estsblisl]ment expense 53.866 81.484 22.654 49,003 46,890 383.294 24.844 18.837 5.W5 53,866 81,484 22,654 49.003 50,790 385,294 24,844 18,837 5,005 Sibling discounts Administyation expenses Staff costs Staff discounts Governance Fundraising and publicity 3,900 2.fM)O 14,633 14,633 Page 20 CARDIFF STEINER EARLY YEARS CENfRE LTD NOTES TO THE FINANCIAL STATEMENTS. eoDtiDu¢d FOR THE YEAR ENDED 31ST AUGUST 2020 io. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- rontiDueJ Unrestricted Restricted fund Totsl fimds Totgl 700.510 5,900 706,410 NET INCOME 36,642 36,642 Trxnsftrs behveen futsds 19.068 (19,068) Net movtment in fuwds 55,710 (19.068) 36,642 RECONCILIATION OF FUNDS Total lunds brought forward 218.667 22,541 241,208 TOTAL FUNDS CARRIED FORWAIU) 274,377 3.473 277.850 ii. TANGIBLE FIXED ASSETS Fixtures Freehold Computrr e4uipnJent fiNings Totals COST Ai 1st Sepiember 2019 Additiorts 411,159 64.477 26,371 12.560 4.554 1.310 442,084 78,347 At 31st Augu¥ 2020 475.636 38931 5.864 520,431 DEPRECIATION Ac 1st September 2019 Charge for year 59,890 12,896 13,646 7,496 1,980 410 75.516 20.802 At 31st August 2020 72.786 21.142 2,390 96.318 NET BOOK VALUE Ai 31st A"ugust 2020 402.850 17.789 3.474 424.113 At'31st.August 2019 351269 12.725 2,574 366.568 FreeFK)Id Property The freehold property is in the opinion of the direcioTS {trustres} a ge￿[￿1 &55et of the company and is therefore included i gerterdl fimd5. This treaththt follow5 the directOTS' opinion that the amouni of rtstricied speni on refi]rbishmeJJt Lnot be distinguished from the rest of the Sch(￿1 pr¢)peny which is a part of th¢ generdl fund The treehold property I￿ludeS additiorLS this p¢riod from restricted fvnd of £ 52,795 (2019: £17,595) for buildin￿refiwbLshrneD1 services a￿1 relatrd costs. FixDJres and Fittings Pag¢21 CARDIFF STEINER EARLY YEARS CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- ¢ontinued FOR THE YEAR ENDED 31ST AUGUST 202 ii. TANGIBLE FIXED A&SETS- tottthiwed Fixtures and fittings i￿L￿deS additions this frotn restricted fimd of £8.211 (2019.. £1.471). Atl the assets were used for dtrect charitable p 12. DEBTORS: AMOUNTS FALLING DUE I￿rRIN ONE YEAR 2020 2019 Trdde debtors PTepayinents attd a¢en￿d itKome 29.747 25.599 1.499 29,747 27.098 13. CREDITORS: AMOUNTS FALLING DUE w￿rH￿¥ ONE YEAR 2020. 2019 Other loan% (see note 15) pa￿entS on account Trade ￿edItorS Other creditors A¢¢Ned expenses 57,630 26.150 11,818 1.338 5,403 57,630 25.800 29,117 858 7.391 102,339 120,796 14. CREDITORS: AMOUNTS FAILING DUE AFTER MORE THAN ONE YEAR 2020 2019 Other loans (see note 15) 117226 125202 15. LOANS An analysis of the [nati￿￿ty of loatts is 8ivert below. 2019 Amourtts falling due within one ￿ on dem￿. Other loaThs 57,630 57,630 Amounts falling between one a￿1 two years.. Other loans. 1.2 ye4rJ 30,520 30,520 Amounts falling due iti more than five years: Repayabl¢ by insta]ments: Other loan5 mor¢ 5yTS instsl 86,.706 94,682 Page 22 CARDIFF STEINER EARLY YEARS CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST AUGUST 2020 16. SECURED DEBTS The following se¢ured debts are in¢lud¢d withyn ¢redi¢ors: 2020 2019 Other loans 174.856 182.832 The company has ST￿ted a charge on its as5¢ts ￿ secuT¢ oth¢r103tL5 of£174.856 (£2019.. £182.832). 17. ACCRUALS AND DEFERRED INCOME 2020 2019 tkferred grants 115.793 117,174 J8. MOVEMENT FUNDS During the year the value of r¢stricted funds utilis¢d in the itnprovement or purchases of ass¢ts amounted ￿ £61.1N)6 (2019.. £19,067). 19. RELATED PARTY DISCLOSURES There were no relaied party trartsxtions ftir the year endoj 3]￿ August 2020. 211. MEMBERS Th¢ ¢ompany no share capital and is limited by guardntee. The aD)ullt of thc guarantee is £2. 21. MANAGEMENT AND ADMUYISTRATION OF THE CHARITY Included in governance expeLsts are ins￿li0n fe￿ of £2.7(M) (2019 £2.7￿) 22. FUNDRAISING Af4D PUBLICITY AcfiviTIES Fundraising and publicity Costs (inchmld in clwithble expetLse5) for the yw alr￿ted to 2020 2019 Unrestricted 15,496 17,370 Pag¢ 23