REcisfERED COMPANY NUMBER: In998357 (England and Wales) REGISTERED CHARITY IYUMBER: 1149061 Report ofthe ind Unvdited Finantial StstemeDts for the Yer Ettded 29th 2•24 CARDIFF STEINER EARLY YEARS CENTRE LTD INIIIIIIIII AE3GIALW 27105r2025 COMPANIES HOUSE
CARDIFF STEINER EARLY YEARS CENTRE LTD CoteAts •f the Fin#neil S¢¢tments FOR ThE YEAR ENDED 2yfH AUGUST 2024 PA8e Report of th¢ Tr4M I to io Independent Report Stalttment of Finneil Adivities 12 Balgnce Shttt 13 to 14 Cash Flow Stattmtnt 15 otes to th¢ C4sh Flow Sltement 16 ot¢s to the FiTranci•l Siatements 17 23
CARDIFF sfEIN£R EARLY YEARS CENfRE LTD (REGISTERED NUMBER: IJ7998357) Report of tkneTrusttts FOR THE YEAR ENDED 29TH AUGUST 211Z4 Th¢ Trustees of the ¢harity aff also Director5 of the Ltd Company forthe purpses of company law. Trnst¢es th served during the year and their datcs of appoirtknem [e a5 follow5.. M5 B A Bowen- Chairperson app)intcd (ki 2020 (appointed March 2012, rlectIOn Juty 2015. May 2018. (kt 2020, July 2024) Dr K W Attficld appointed Jun 2022 {app)inted July 2014, re-election Jul 2016. Aug 2019. Jun 2022) Dr H D Evans appointed Aug 2020 le0p1ed Aug 2020. Taiified Oth 2020, re-election Au8 2023) Mr M A Flynn appointed Jun 2022 l¢wpt¢d Febnlary 2019. rdtified Aug 2019. rtth¢le¢tion Juth 2022. July 2024> Mr R Knight appointed Feb 2022 (Copted Feb 2022. raiified Jun 2022) Ms F Whitesid¢ appoint¢d Apr 2020 (COvOPted Apr 2020. rntified Iki 2020. rel¢ction Aug 2023) TnJ$t¢¢$ may be appinted by existing Tru5tee5 or Ksrninaied •Ld ele£ted by the charity's mtmbers at the Annual . Gcncral Meeting. The Board of Trusiees evaluate the current balance of 5ki115. knowledge and experience on the Board in seekin8 to recruit any Trustcc role5. Trustees are interviewed and inducied in iheir role by existing trustees, and are provided with a sthi¢ment of re$poÈ)sibilities, induction pack and information on key lICItI procedures and goveming documents. Trustees underkke training as required. both specifi¢ to individual roles, or io tht Board a5 a whole. OBJEcfivES AND ACTIVITIES Objettives of the cbrity "To advan¢e the ¢du¢aiion of ¢hildTtn and youn8 people and support families and individuals in #crdaT¢ with the educational principles of Rudolf Steincr.. The charity's rnission stat¢tn¢Tht ks.. 'W¢ provide an inspiring at)d nurturin8 education bd on the prirKiples of Rudolf Steiner that respects each £hild5 individual develtspmeDt. We serve the ¢ity of Cardiff and surroundLng areas, and w¢l¢om¢ children and families from all culiural and religious backgrounds. We seek to fully i¢tt with the wider Community through projects and events. We offtr a ¢ompththsiv¢ child-centred education through parent and child 8roups. kindtr8artens and a vibrdnt School offering a living Steiner ¢urri¢ulum. Everything we undertske we sirive io do eihi¢ally, ¢onKiously and with integrity." Significant activities The S¢hool $u¢¢¢ssfully ¢omplet¢d its Iwelfth ye8r of gro. and our fourth year since offering a full Steiner Waldorf education from age 3 to 18119. 2023-24 was the sixth ye¥ of the sclthl offering the New Zealand certifi1¢ of Steiner Education (NZCSE), with our second Upper School Cla55 8fdduatin8 with the ixvel 3 qualification. Page I
CARDIFF STEINER EARLY YEARS CENTRE LTD (REGISTERED NUMBER: O79W57) Rewrt ofthe Trustees FOR THE YEAR EJ¥DED 2wfH AUGusf 2024 OWEcfivES AND ACTIVITIES Volunteers and ¢ommunity Supwrt The charity greatly value5 and benefits from the generDu5 volunteer contributions of pamts, stsff. and support¢TS. who dedicate tnany hours of their time. Paraits, artd often members of their Cended familie5. play an a¢tÉve role in tk life of the School. Their volunieer efforts in¢lude organising aThl Tunning communiry events. enhancing and maintaiThin8 the sch(x)18Tounds sUprtin8 pupils, learnin8 tx)th in the cl&%sroDm and on trips. and leading or participating in fijndrnising initiatives. The financial Statements do not include a valuation for these as they canmt be measured reliably and would not nOMlLY be provided as part of the volwiieeTS' trade. though an outline of parental involvement 15 included irb below. This year marked a Significant Step forward in parwrtal engeme. highlighted by the revitslisation of ihe Parent Rep$ Group and their introduction of an infomial rth)rdinaling and leadership rnle. This development sparked renewed energy and commitment. fostering a more strategic and Collaborative approach to parerii involvement. The Parent Reps mct Tegularly with their SchTh)l Management Team {SMT} liaisons to c(Mduct a strattgi¢ review of thc roles of Pafent Reps and rhe broader Tole of eommuniry within tht Scjwjl. This reflective prncess helped to strenhen th¢ School's Culture of ¢ottn¢¢tioo and collective r¢4y)nsibility. As part of this Tetnvi8orated parent initiatLve, a Parent Garden Group was established and undertook a substantial project to renovate the Kindergarten sandpit and expand planting acr05S tht khotsl 0nds. Another parent-led projcct involved the collaborative ¢[struCtion of an outdoor pl1 oven by both partnts and pupÉls. This new f¢aiure has become a valuable assei now used for S¢lwl Fair4 wartsund m¢ai& oE)d other ¢tsmmunity ¢v¢nts and celebrations. The Parent Rcps also I15t¢d the sCh].s first Chri51m&s Fair in three years, which proved to be a resounding suc¢es5-both in fosiering community spirit and raisin8 funds. Parental involvement coniinued LO enrich the educational experi¢nrc. In Middl¢ and UppEr khLW)I parents wntrIbut to talks on'careers and the World of Work,. sharing their professional journeys and insights with students. Thes¢ activities reflect the deep cornmitrrt¢nt of parents to their childrens edu¢ion. as well as their imialuable $upport in helping the SchrKTrl grow and thrive". The &IKM)I benefits from a strong ar coks1 community. unitd by a shared understanding of the charity's mission and ethos - an alignment that positively enhances the educatlonal experien¢¢ we pro¥ide. The TTUSt¢es would like to forn)ally xknowledge and express their heartfelt appr¢ciaiion for th¢ d¢di¢ation. enihusia5m. and on80ing suppjrt ShM by our staff, and friends. Page 2
CARDIFF STEINER EARLY YEARS CENTRE LTD (REGisfERED NUMBER: •7998357) Report ofthe Tntsthes FOR THE YEAR ENDED 29TH AUGUST 2024 ACHIEVEMENT AND PERFORMANCE Review ofxctivities This year marked the tswelfth anniv¢r5ary of Cardiff Steiner Early Years Centye d- a charity fOW¢d in 2012 to carry forward the missv)Th of the original Cardiff St¢in¢r Early Years Centre Charitable TrusL building on 15 yean of su¢¢¢ssful Kindergarten provision. What began as a pioneer iniliative offering class¢s for Childn aged 6 to 10.h&$ 5inee evolved into a thriving Centre of St¢in¢r Waldorfeducaiion. serving ¢hi5dren and young people from ages 3 10 19. The S¢h¢)ol is xctediied and lic¢ns¢d to offer the Certificate of Steiner Educatb)n INZCSE) as our Upper School qualification from Ixvel i to Level 3 (ages 16 to 181191. This ini¢rnaikonally recoyjused qualification i5 the first secondary school qualification fvlly based on the Steiner curriculum. li is equivalent to A Levels and the International Baccalaureaie. is recognised by UCAS. and a¢¢eptrd by UK and international univer51ties. Rather than relying on high-stake5 exams. assessment in the NZCSE 1$ wntinuous. authentic and d¢velopmentsl. Students are evaluated through in-depth proj¢¢ts, practical worl WTitteTh lsTrments. and oral presentations. methods thai honour individual learning styles and allow students io demonstr3ie iheir understanding in varied and meaningful ways. Each student graduaies with o ¢ompr¢hensive c¢nificate that retlects their individual s¢Mg¢l aDd areas o( ini¢sts. This year. we celebrdted excellent achicvtments in Upper S¢hool, as our s¢¢ond aring elass successfully compleied Ih¢ir L¢vel 3 qu21ifLcations. Seven swdents were awarded Distinctions. one received a Highly Commended. and on¢ achieved a pa55. Thi5 yes UateS werf on io SdY ¢ours¢s including Crimirl08Y ai Durham University, En8ineering.at the University of Exeier. English Language and Linguisiics at the Univ¢rsity of Glasgow, and Business Siudies ai SejoDg UniveTsity Seoul, South Korea. CIM)osing to be part of a sch(K)l thai ernbrdce5 a distinctive educational approach requires counge. ¢omtnitmen¢. and belief. Th¢ TnLSte¢s warn)ly ¢ornnxnd every stud¢nt, their supportive families, and our d¢di¢ated i¢aching ieam for their hard aThJ shared success. This year. the School began 5urc¢ssion planning for the Upper S¢hool Coordit)ator role, followin8 notifjeation from the current posr-holder. of their intention to trdnsition to a Vi$itsng Tea¢her and NZCSE Advisor posiiiot) from Sept¢mb¢r 2025. A robust transiiion plan is in pla¢¢ enswe Upper Sch1 continue5 w uphold its high acJemi¢ Sthndards and maintains a stable. supportive environment ¢entred on leaming and s¢[ w¢llbeiTh& The School's Lower S¢lv)ol Edu¢ation Coordinator suc¢essfully cornpleied Esryn Peer Inspector training this year. This a¢hievemeni brings valuable insi8hi into the inspecti¢)n process to the leadership off¢rs opponvniii¢s to lean) from effe¢rive pr3¢1i¢es in other ducational sertin85. atMI Sup)rts continuous improvement iKsth within the khty)l and across the wider sector. Th¢ School r¢mained fully responsive to changes in the regulatory. landscape. successfully me¢ling updates to the Independent S¢l¥)ol Standards (Wal¢s), adapiin8 to Estyn's new school irLspection fraMeWrk. and complying with the new requirement for all independeni sclKx)l lff be gICle wilh the E41ucation Workforce Coun¢il, Wales. Curriculum hnd sthffing development were an area of f$ this year. The SoLmds-Write literacy pro8ramme w&5 succe$5fully rolled out acros5 the Lower School. resulting in measuwable improvements in pupils, lit¢racy outm¢s. In addition. the S¢hool iniioduced lh¢ UNICEF Rights R¢spectin8 Schools PrOgramn throu8h a half-term initiative delivered to a mixe&age group of pupils in Classes 6n and 819 during the summer t¢m). This ini¢iative ¢nhan¢ed opportunities for pupil voi¢¢ and helped to ¢mb¢d rights-bwd praeti¢es within the School culture. The School appointed a second Visiting Maths Tea¢her to Upper School. Their expertise Complements that of our ¢xisring t¢a¢her, fiJnh¢r strength¢nin8 th¢ depth and breadth of mathematic5 education offered to our student5. In June 2024. Ihe School welcomed its fini fvll Estyn inspe¢uon sin¢¢ 2016, conduci¢d lder th¢ new inspection frameworL which place5 a Strong emphasi5 On pupils. experience5 and wellbeing. We are pleased to report that the out¢om¢ w¥ very SItiVe, with th¢ iN8pe¢tion r¢co8Thisin8 tmyh the stren#h of our educational provision and the unique charncler of our School community. Inspectors engaged extensively with pupibs through Cl8 observaiions. smajl gmup discussions, and infornial conversations. Our pupils made aD ex¢epiiona] impression, with Esryn noting that: "Pupils express them5elve5 clearty from an early age. speaking with both confiderKe and enthusiasm about their work. developing into articulate and maiure Skers... with increasing sophisticaiion... and extrernely eonfidtnt when engaging in robust d¢bate.- Page 3
CARDIFF STEINER EARLY YEAILS CENTrE LTD (REGIsfERED NUMBER: 07998357) Report ofthe Trntees FOR THE YEAR ENDED 2yfH AUGUST 2024 This feedback reflvts not only the quality of ow teaching but aL50 the thoughtful. ¢onfiden( and engaged nature of our learntTS. The pupils were a credit to the School. and we are grateful for their y)siiive and wholehearted participation throughout the inspection. The report a150 recogni5ed the $Chl.S ethos artd culture. descrjbjrtg us as a"."Happy, cl¢)se-knit ¢ommunity where pupils, pernonal development and well-being are at the eentre of all the School's wtsrk." Our we115tablishcd. adaptable curriculum was Comme[ed for 105terin8 a life-lon8 curiosity atld h)ve of learnin& with teaching that encourages pupils to develop iTrdepth understandin8 across subj¢¢ts. Estyn highlighted $trong outeom¢s in th¢ Certifi¢ate of St¢in¢r Education INZCSE). Iloting that pupils leav¢ the S¢hool w¢ll-pr¢pared for IM)th higher education aTbd the world of work. A parti¢ular positive of the inspection was Estyn'$ inviiation fw the s¢101 to Ujntribute a case Stsjdy on our haTWOrk and craft cu1Culrn. Thi5 will be published as an example of 5ector-leading practice. While the report was affirniin& it also provided valuable insights that have helped to shape our SchDoI Improvement Plath. Areas identifi¢d for 41eveloprnent in¢lude." sirtngth¢tbing progression in maihematics- developing a clearer ovemew of teachirbg. learning. and pupil PTogrtss over time." improving attendar)¢e for th minoTity of pupils. These prioTitics are now being activefy addrt55cd and are inte8raied into our 51ratt8ic planning. This year, our international community eoiitinu¢d tts grow attd thrive. The Sth)ol attra¢ att in¢rnsin8 nLtmber of internation visiting Students and families r¢locating to Cardiff from acr05S the UK aThd around thc world. As a T¢5uIt. we are Proud to k horne to a diverse and vibrant faculty and sbjdent Fxidy, which reflects a wide range of cultural backgrounds and experierKes. We Pfoudly identify as art intern10#1 Welsh School, rooied in local value5 thile enriched by global p¢rsp¢¢tiv¢s. This divetsity Slrenwhens our Community aJLd broad¢ns the tducationa] experience for all. Throughout th¢ year. we celebrdted our diverse ideniity through a variety of fe51ivals and events that honour the ¢ultures and traditions of our pupils and their familie4 fostering inclusion, pe¢l and shared Undeanding. Partnershhp working contimd to make a meaningfijl ctinknbution ks IK>th pupil'prtsvision and stsff (kvelopment. As an Accredited Provider of the New Zealand Certificate of Steiner Education (NZCSE). the SCI1 benefits from ongoin8 trainin8 in qualiry managemcnt Sy5terns IQMS) and quality-a55ured assessment prdctices. delivered by the Steiner Education Dcvelopmertt Trust (SEDTI. which licenses the NZCSE. he Sch1 also benefitted from strong and supportive relationship5 with other UK Steiner scknls delivering th¢ NZCSE. These partnerships fa¢ilitst¢d resource sharing. joint moderation. and pmfessional dialogue, further enhanejng the ¢on5isiethcy and quality of our educational provision. Jn addition. our ongoing ¢tsllalKJration with the Stekner Waldorf sch1$ Fellowship (Waldorf UK) provided valuabl¢ opporttJniti¢s for advocacy, ts31thin& and developrncnt acr05S the wider Stcincr network. The Tru5tee5 are deeply 8ratefvl for arM)iher year of groth, a¢hiev¢m¢nt. and shared wmmitrnent. We extend our htartfelt thanks to the entLre School cornmunity. unwavering suppjrt and 8oodwill of our parents, the resilience and enthusiasm of our stttd¢nts. and the dedic*ion and professionalism of our faculty and staff hav¢ all played a viial role in enabling the SclKV)I to deliver our distinctive ¢JU10One thai is vibranL pursx)s¢ful. and r¢spon5ive io the individual needs of eaeh child and young penon. Tog¢thei. we conlinue to uphold and enrich the values at the heart of our educaiional mission. Page 4
CARDIFF STEINER EARLY YEARS CEJYTRE LTD {RECISTERED NUMBER: 0798357) R¢pfrrt of th¢ Trwt¢ FOR THE YEAR ENDED 29TH AUGUST 2024 FINANCIAL REVIEW Review or riThnc These are ihe accounts for Cardiff Sieiner Early Years C¢nty¢ Limit¢d (CSEYC} from I S¢ptemb¢r 2023 to 31 August 2024. General Fund The main financial aim of the charity is ensure the nJNiing ¢os¢s of th¢ S¢hool a by ¢ore in¢ome sources in order to support the charitable aim5. These core incorne 50urce5 are fees and a small rental inCe from hire spaces. The Stsiement of Financial Activities for the year slK)Ths a surpl of £18.515 (£23.027 in the previous year) unrestricted for incoming and expended resour¢es_ This is the eleventh successive year of surplus, and the Truses ¢onsider this a 800d achievement for the charity over a 5ustsined period of growth and cxpan5ion. and in a climate of sector. and wider economic, ¢hall¢ng¢. As a small school dedicated to social Inc11Vity the charity prjen1 manages finances to make a small surplus $tricI¢t to mainthiN an appropriaie reser¥¢s fimd. This means thai the School is sensitive ihe current type of sector and e¢onornic Challenge. The School ¢onlinued to a¢1 respoDsivety to mainthin its financial security through carefvl monitoring and review of ouigoings, and woting closely with parents io manage their fees payments and provide payment options where a family's ability to pay in the immediaie temi was affe¢d. FinaTh¢ially the School's key chall¢nges this year w¢re absorbing the impaa of lower Kindergart¢n numbers. which were impacted by Covid-19 and ils afternutK retsinin8 families in a difficuh economic climt. and managing incre&sin8 Costs of overheads due to inflation. The reduciion in admissions io Kindergarten was anticipad the 'Covid gap.. the inability to recruit pupils into Kinder8arteTh and Parent and Toddler groups during the lockdowms from March 2020 July 2021, and was budgeted for accordingly. Additional faetors include naiioThai demographic changes in this a8e range, parent5. ongoing ability 10 work from hotDe and care for their young rhildrtn. and financial pressure in the ¢COrmI¢ clitnate. A5 kty f¢cd-in route to Kindergarten. the impact of this Wds anticipated to take until July 2024 to 'gTOW oui,. Initiatives to address this (includin8 restrucDJring of Parent & Toddler groups and relationship building activiiies with Toddler Group families) began to hav¢ an impa¢L Th¢ fiDaty¢ial stat¢ments sknw an in¢re2se in Kindergarten fees income by £10.684 on the previous year. Admi55iO]LS into the main 5cknI ienuined Strong and helped miti8a* the financial Impact. OveTheads weTe reviewed alld expenditure cartfvlly Tnanaged. Fotsd and service5 costs (insurance. training. software etc.) saw particularly hi8h price incre&ses and these were negotiated where possible. Utility costs remain fixed untÈl 2025. Total as5¢ts siand at £633,038 {£636,975 the PT¢ViOWS year) ¢omprising £4108,870 it) fix¢d assets and £224.168 in cash at bank and in hand and debt owed to the Charity. The fixed asset redudion is due to depreciation. Arunts falling due Wlthin l year are £l21.540 (£124.843 the previows year). After arnounts failing due after more than one y¢ar and d¢fery¢d grant income, the totsl funds of th¢ charity. ar¢ £328,175 (£308.175 unr¢stri¢ted and £20.0(M) restricted) up from £309.660 the previous year. FUTURE PLANS The aims and key objectives for development * ihe end of the period in¢ludcd ensuwe the ongoing flnancial health of the School durbng the planned January 2025 itrtroduction of VAT on fees for independent schools and the r¢moval charitable rdtes relief; further Impro the leaming envirownent with additional learning space in the second sta8e of our building development prograrnmt and outdoor Space developmentr to fier increase admissions into Kindergan¢n by improved admissions and conversion activiry, and fvrthercot)solidate our delivery of the NZCSE. STRUCTURE. GOVERNANCE AND MANAGEMEKr Governlng doeumenl The ¢harity is ¢ontrolled by its governing do¢umeni, a MemorUM and articles of a$SlatIon. and l$tituteS a limited company. limited by guarantee. as defined by the CoTnpanie5 Act 2006. Page 5
CARDIFF SfEINER EARLY YEARS CENTRE LTD {REGisfERED NUMBER: 07998357) Report ofthe Tr¥t¢ FOR THE YEAR ENDED 29TH AUGUST 2024 STRUCTURE, COVERNANCE AND MANAGEMENT Organisational struetUTe Cardiff Steiner S¢hool is a self-administered. collalx)rativtly led institution. Its leadership is divided across three groups, ¢a¢h responsible for a specific realm of decision making - the Colleg¢ of TearheTS. the Board tsf Trustees and Administration - with the SCIN} Managcmenl Team managing the on80ing operdtion5 and development of the scIK>OI. Thi5 approach reflects the holistic nature of Stciner educ41ion, and while administratively more Complex, allows for gr¢aier Communal r¢sp).nsibi1ityh UstV fLr thoughtful independence, upknlds its own work. rewgnises where responsibilities overlap. undeTStand5 when an issue falls to arK)ther group. and w)rks with the other groups with honesty and iniegrity. The Board of TnJ5$- are respon$iblc for OV¢Tall govcrnancc and cany responsibility for the legal gty)d-stsnding and financial w¢ll-bein8 of the 5chrKJl and ensure that thc chariry fvlfils its charitsble objectives. The College- thr school doe5 not have a hcad teacher. but instead ttachers sharr rc5ponsibilities and wgether in a icrarchical 'collegiate'. Thc Colle8e are rc5pon5iblt for pcda808ical governarKc- for matter5 that directly relale to the cla5SToom and the teaching of the thildren. inclthling dIg0gY, ¢IricUluM developmenl &55essment and the mentoring and evaluation of teoth¢rs. Administr41ion- is mad¢ up of the S¢hty)l Administraiive Manager and h0o1 Business Manager. Admit)istration have r¢sFK)nsibility for finanr¢thu5ine5sladministratI optration5. regulatory cornpliance. managing contart with outside individuals and agencies, rnarketin8, ¢0mmunicati thissionenlMe facilities aTrJ fvndraisingldevelopm¢ni. The Sthool ManagenKnt Team (SMT) manages the on8OLng operations of the scho(Trl - crAYdininB, rnonitorin8 and reviewing the implementation of the S¢hcol Dtvelopmeni and Improvements Plans and th¢ a¢tiviiies of the various sphere5 of ihe s¢hool. Responsibility for monitorithg and evaluating the effe¢bveness of the overall School ImprOvnent Plan is th¢ responsibility of the Board of Trustees. working wth the Sch1 Managernent Team. to ensure that the sch(M>l delivers an inGIu5iv¢ and good quality of education in line with its charithble aims. Other cross-group mandated Committees and tssk gmups have rcspDnsibility ftsr specific activities of the school. Each of these operates as a mandated or delegad woup under the direction of one of the atM)ve-mentioned IM)die5. The Scknol Business Mana8er 15 dele8at¢d by the Trustees to deveknp and mamge finaTKial policies and prlICeS for the 5ch(K)l including the followng areas. - managing financial policies arKI wxtices for the sch1 financial planning. bud8etin8 and monitoring - annual b8¢¢ fe¢5, Salary and benefit review - developing. mana&in8 and irnplementin8 the BuTSary Scheme - fee debt collection The S¢hool Busincss Manager reFw)rt5 direcily to the Trut¢s, tho are responsible for the financial oversight of the charity. with all trustees playing an active role in thi5. Pa8e 6
CARDIFF STEINER EARLY YEAK8 CENfRE LTD (RECISTERED NUMBER: 07998357) Report ofthe Trt$ FOR THE YEAR ENDED29TH AUCUST2024 STRUCTURE, GOVERNANCE AND MANAGEMENr Risk rnnagementlRu¢rv¢ fund The trustees have a duty to identify and review the risks to wthi¢h the ¢harity is eXSed and to tnsurt appropriate ntrols are in place to wovide reawnable $11[ace a8aiDM fraud and error. The Tnle¢S have reviewed the major risks to which the charity is exrKJsed. and Systems have b¢¢n ¢srablish¢d to manage those risks. The main financial risk to th¢ eh3n.ty is ¢onsidered b¢ un¢xpe¢i¢d significoni toss of income or unbudgeied expendi[¢. A5 a miligation measure for the introduction of VAT on school fees the School 15 using recoverable VAT on purchases to provide bursary suprK¥rt for families WI need help to trnDsiiion ro a VAT payable posiiion. The impa¢t of VAT on school fees may also impact future s(Jent recruitment a5 parents corLSid¢r th¢ affordability tsf opting in to independent education at all intake p)ints. As a miti8ation the S¢knl is improving its admissions processes, ¢nsuring li nurtures all leads aThJ prospects (]ch Temain strongl. with the aim of increasing th¢ conversÈon rate of enquirers tts enroller5. The School 15 also looking ai how 10 maximis¢ opw)rnJnities io attract prospective par¢t)ts WI may no longer be able io ¢onsid¢i fees of £20K with VAT at other local independeTht sch(KJl5. To do so the sch(x)I ne¢ds provide ¢larity about the kind of education we provide. and deMoThstre through alumni Ihat our Sbjdents achieve arwj 80 on w do well in university and careers, byt •lso be ¢l¢ar whert we cannot 5LlPPOrt specific pareni aspirations. Total funds at year end were £328,175 {£308.175 unrestri¢kd aDd £20,00(> rtStyi¢t¢d) up from £309.660 the previous year. This in¢ludes Unrestri¢ cash at bank and in haTwJ and debts owed to thE charity of £224.168 {£209.900 in th¢ previous year) repr¢s¢niing approximately 3.4 llK)nths ofcore operatin8 COSLS (3.4 mnths in the previous year). Thc Trustees considtr thai given the str¢n8th of the ¢harity'S balance sheeL the careful a1 prudent monttoring of finaD¢es, tog¢ther with sthble cash flow from fee5. effective mafkeiing and SThLd¢nt Te¢rni¢m¢ni a¢tivities. and the available banking facility that can be called UFKJn if need arises. that there is llo ¢lTellt need to build a larger cash reserve in th¢ short *m). The T1¢¢$ re¢ommend thaL in order to miiigate fuiure risL th¢ charsty should wniinue io work towards cstablishirbg cash rt5erves of net current eLS of S months runnit)8 $[$ within the nexi S years. Pension Fund and Ltability Thc Charity use NEST for their workplace pension sehem¢. NEST Is %1 up by the UK government and run by NEST Corporaiion, a tKhn-departm¢nial publi¢ body. The charity deducts and pays pension contributions aDd keeps reituired records of enTolrDenl. The P¢n5ion Fund paid into NEST ai year end iotslled £98.494 (£75,405 the p¥tou$ year). Pa8e 7
CARDIFF STEINER EARLY YEARS CENTRE LTD {REGISTERED NUMBER: 079983571 Report of iht Trusttts FOR THE YEAR ENDED 29TH AUGUST 21124 REFEREIYCE AND ADMINisfRATIVE DYfAIiS Fixed knsetslProperty The main fixed asset of the charity is the building and land as Cardiff Steiner khool. Hawthorn Road West. The school carried out £40.190 of building mwnt¢nan¢e and rerwdls in the year (£38.118 in th¢ previous year) including £26.045 to replace the School'5 boiler. flue and pump5 following ifs terniit)al failure in Febmary 2024. Thi8 liad been noted as end of life since a t¢mporary fwlvre in FebTU3ry 2022. The School used a trusted. local. small contractor and s¢¢ur¢d thi5 al 41N50% below arge comrnercial costs for such. The new trA)iler has a minimum of 400h incru5cd efficiency. Other wY)rks included fire safety improvement id¢ntifJed the external FiT¢ Risk Assessmeni, water system remedial work identified in the external L¢gionella Risk A5SCS5ment, rcfurbishment of the new Clas5 1 classroom, drain repaiT5. garden improvcmcnts. refurbishment of some 5aThJed classr(N)m floors and decoration of Cornmunal and external areas. The s¢h¢Jol invested £10.293 in educational fixtures and equipment during the year, £3.288 of which has b¢¢n capitalised in the financial statements. This included ¢h¢ fvll furnishing of thc new Clas5 1 cla55Toom. new Handwork stools and equipmet>L pizza oven build. sandpit build. keyiY)ards and further investrneni in Jewellery makin8 equipment. The asset value of ihe building ts ul¢ulated on the PUTchase cost plu$ the invcstrnent wc have made into the buildin8, minlls d¢precsation. The osset valuc of the property at the end of the aceouniing period was £396,623 {down from £411,029 the PTCVIOUS year due w depreciation) with Iiabiliii¢S of £139.299 (down from £148.925 the previous year) to the Hennes Trust for the mortgage (thI at Y end £89.2991 and Cardiff Council 1£50.0001 for delay¢d pur¢hase payments. Toial fJx¢d assets were £408.870 {£427.075 the previous year}. The rharity 15 in discSsiOn with the local atsthority to agree stsged Payme datrs of the delayed £50,000 building purchase payments, all of which Cao be mei form the Schwl's reserves. Credit Control The a¢¢ounts show debts of £28.978 of sclKM)I fees 2nd hall bTre fees at year end {£17.678 the previous year). £25,364, was from current families wth balan¢¢s outstanding at year end, £13,320 of thich has been recovered in fvll since, with the balance on payment plans. £3.070 Wd5 historic debt from families who ljad left Scljool which have either been r¢cov¢r¢d since or are on payment plans either direct with the s¢}1 or with our appointed debt collection provid¢rs. The charity instrncts a debi eolle¢tion seryi¢¢ io ta¢kle historical debt and use their servi¢es on an ongoing basis to recover any new debt arising when familie5 leave the school. The charity made additional provision in this yur for £8.208 of fee5 debt. The majority of ihis has a payment plan in place to repay rhe debt. wth the balance currtnily in discussion for a payment plan prior to debi ¢tsll¢ction. However, the Trustees have taken a cautious approa¢h by &c¢oring thi5 in to the fjnancial starements. The ¢harity ¢ontinues to pursue debi where provision has been made. The School continues to act responsively to mairttairt the finarKial security of the Sch¢Jol through working ¢losely with parents to manage iheii fe¢$ payments in a tbmety mart[. The charity recovers fees arrears from rurrent fY4milies. by monitoring and th)tifi¢ation of 3rrcar5 during 1he year, and by yobust year end action. including a series of year end reminders. to prompt the final Augu# monthly fees payment by year end on 3 I Au8USt. BMrs•rylCharliblt Bemefits Th¢ charity's Tnjstees have had regard to the Charity Commissiort's guidart¢e on public benefit aTKI Lrried out significant actLVtties undertaken to fvrther ¢harrtsble purposes for the public benefit. As an educational charity all the iD¢orne of the charity must be appli¢d for edu¢aiional purwjses. In this year received ¢x¢mptjOl) 011 OUT educational activities {and on any investmenl income and 8ainsl provided these were applied for ur charitable airns. As a charity, in this year. we were also entitled an 80V• re41uction on our blnesS rates on the property we o¢¢upy for OUT ¢haritabl¢ purtx)se5. The flnancial benefits we received from these tax exemptions were all applied for educational purp)ses and indir¢¢ily helped us to maintain our bwsary and 5ubsidised fee5 schemes for familEes on lower incomes. However. as an cducaiional chariry. we were unable to reclaim VAT input tax on our cosis in this year as we wtre exempt for VAT purp)ses. We also pay t&¥ &5 an employef through the national iThsurdnce contributions we make. Page 8
CARDIFF STEINER EARLY YEAL8 CENTRE LTD (REGISTERED NUMBER: 117998357) Ryrt ofthe Trwsttts FOR THE YEAR ENDED 29TH AUGusf 2024 ln addhtional kn the very sub51antial benefits our S¢lw)ol brirtgs to (w pupils, the lo¢al Community and so¢iety through the education we offer. our tmtysary and subsided fees programme. outreach and public events programme, provision of faciliiies for public use and our ptssilion as an imwjrtant hyb for infomiatson ¢x¢hang¢ and besi pra¢ii¢e. means ihe charity creates a so¢io10ss¢i without cosi to the Exchequer. The charity aim5 to be socially inclusive as it can. treading a deli¢e line bets¥ttn financial se¢uiity and a¢cessibility, by offering a rnng¢ of ¢haritabl¢ finat)¢ial dis¢ounts. Financial support 15 offered to families via a bursary scheme and subsidised fees for familie5 on incorne5 under £4S.000. It also offers an incorne-based staff fees discou1 schem¢ LO auraci ond rethin stsff. The Buw h¢me offers support to families on lower incomes and provides larger and additional discounts to the subsidised fee5. During tht accounting period £68.534 awarded in ftts bursaries. subsidised fees to families on lower incomes. and means tested discounts to parents who are paid stsff members (£42.244 in the previous yearl. This comprised £24.716 it) subsidised fees (£23.535 ir> the previous year) £8 J45 In bLwsaTies (£3.681 in the previous year) and £35.272 in means-Med staff discounls (£15.027 in in ihe previous year). This represents 9.26 Y• of reltvant f¢e5 income. The increase in 51aff di5coiinls was due io new full timt llaff joinin8 ihe Sch(x)I wilh children. or existing staff whose ¢hildren joitled the School in the year. A fijnher 1,030. was giveD in sibling dis¢owits (£49,140 in bn the previous year) an Incre due to a number of larger familic5iOLning the khool. Th'e ¢harity plans to fvrthtr supN)rt its lyjrsary scherne by expanding its regulu giving scherne in the coming year. The Trustees will continue to monitor ihe level of financial supwrt for families on lower incomes as the S¢hool grows, to ensure it Is both ¢ompliant with the ChaTititt Act aTMI is abso Susthinable in terms of the overall financial p)stlion of the ¢h4rity. The clwity provided oiher public benefit during the year in¢luding a pYogr•nme of visii mornings, open evenings. musical and drarnatic performarKes. and Parent aTwJ Toddler Groups serving 30 local and re8ional families. The charity supported the local cornmuThity by providing the building for publhc use of its comrnunity hire faciliiie5. The School continued to act as an Importanl hub for shan.ng expertise ?j best pra¢ti¢e with other UK scTrw)ols. te8chers and s¢udeni tea¢hers inierested in Steiner Waldorfeducation- with a nurnber of tea¢heT visits aj swdenl placements in the School takin8 place in the year. Thi5 included visiting 8roups of local FE childcare students and tutors, and a presentation by the School's Early Years Coordinawr at a local FE ¢oll¢ge. The School's Upper S¢hool Education Coordinator continued to work with the Steiner Education Dtvelopment Trust (who rnana8e and develop the NZCSE). to deliver trdining and 8uidance for other UK Stelr sclMM)Is. to deliver the certificate to their Upp¢r S¢hTh)Is. Page 9
CARDIFF STEINER EARLY YEARS CENTRE LTD {REGISTERED NUMBER: W1998357) Report Of lh¢ Tntstees FOR THE YEAR ENDED 29TH AUGUST 2024 FUNDS HELD AS cusfoDIAN FOR OTHERS Deposits The charity maiTrtsins a separate de&It a¢¢ount for holding fees deposits. These reserve a child'5 place in the school and cover any costs in the event of the Rc8iStrdtion and Contract between par¢nt and Cardiff Steiner School being broken. The dep)sit is rctumable when a child leav the sclK)l as long as a full terni's rf>tr¢¢ has E¢en gjven in writing. Deposits are intcrnally audited at year ¢tMI to ensure tha¢ fvnds held in the account COTf¢5ponded to those re¢orded in our ac¢ounting system. At year end the ¢harity held £25,850 of deSits for current familie5. The TrIee$ may explore the Opti of a cash inve5tmEnt policy. for the dew)5lt fund5. and any fvture increase in ¢ash reserves 8¢nered. PROFESSIONAL ADVISKRSVSERVICF Professional aifvi5eTS1s¢rvi¢es io the tharity during the period as follows: Accountants- Johns Jone5 & IA) Limited BankeTS- The Cooperative Bank pl¢ Payroll Accountants- Dennis and Tumbull iAd Pension Scheme- NEST workplace pcnsion Debt CollectÈon- Rdwjod Collections L TRUSTEES. RESPONSIBILITIES STATEMENT Thc TTUStees (who are also the directors of Cardiff St¢in¢r Early Years Centre Ltsl for the purposes of company law) are responsible for preparing the R¢port of the TTu#ees and the finan¢ial statements in a¢¢ordan¢e with appli¢able law and United Kingdom Accountirtg Stsndards {United Kingdom Gcnenlty Accepted Accounting Prydctice). Company law requires the trustees to prepa financial statetTKnts for each financial year which &ryve a true and fair view of the sthie of affairs of the charitable company and of ihe incoming resources and application of TesDurce5. including the income and expenditure. of the charitsble cotxpany for perM)d. In preping tlKJse firhan¢ial sktem¢nts. the trustees are required to.. - select suitsble at¢oun¢ing policies and then apply them c4mlsten1ty- - ob5crvc the method5 and principles in the Charity SORP: - make judgements and estimal¢s tha¢ are reasonabl¢ and prudeni - prepare the financial sta¢ern¢nts on the going corKern basis unless it 15 inappropriate to presume thai the charitsbl¢ company wll continue in busines5. The Trustees are responsible for kttping proper a¢counting records which disclose with Ttasonable accurdcy #t any time the financial position of ihe charitable Gompany and to enable them to erL5ure that the financial slatements comply wth th¢ CopanieS A¢t 2006. They are also responsible for saf¢suarding th¢ assets of the charitable company and hence for takin8 reanable step5 for the pr¢veniion and ddeui(ffi of fraud and other irregularities. This r¢port has b¢¢n prepored in accord¢¢ with the special provisJns of Part 15 of the Companies Ad 2006 Tel*ing to small Companies. Approved by order of the trM)ard of trustees on... and 5ign¢d on its behalf by.. B A C Bowen. Trustee Page 10
lTrd¢ptodtnt Examiner's RepDrt to Ihe Trusttts of Crdiff Steintr Early Yurs cere LTD (RegItTed number: 07998357) Indep¢Dd¢nt exrniner'5 report to lh¢ Irusttts of Cardiff SteiDtr Early Years Ctntre LTD ('Ihe Company,) I report to the charity iwsltts on my examination of the accounts of the CornpaNy for the year ended 29th August 2024. Respon5ibilitie5 and basis of report As th¢ ¢harity'S trustee5 Of the Cornpany (atwj also its directors lor the purp)ses of cornpany lawl you are re5pon5ible for the preparation of the accounts in accordance wilh the r¢quirem¢nts of the Companies Act 216 {'the 2006 Art). Having satisfied myself that the acwuni$ of the Company are not required to be audited under Part 16 of the 2006 Aci and are eli8ible for independ¢nL examinathon. I rew)rt in rtspcct of my cxaminatson of your charity'5 accounts a5 Caled out under Se¢tion 145 of the Charities A¢t 2011 ('the 201 l Act.). In carryin8 Out my examination I have followed the Direction5 given by the Charity Commission under Section 14515) {b) of the 2011 ACL Independent examiner's statement Since your charitys 8ross income exceeded £250,0 your examiner must bc a rntmber of a listtd body. I can confirn? ihat l am qualified to undertakc the cxamination because l atn a member of the Inltle of Chartered Accountants in England and Wales, which 15 orÈe of the listed kndies. I have completed rny examination. I confirn) that no matter5 have rne to my attcntion in amncclion with the examination giving me ¢aus¢ b¢lieve.' accounrin8 records were not kept in respect ofthe Company as required by Section 386 of the 2006 Act" or Ihe accounts do Ey)1 a¢¢ord with thos¢ re¢ord$" or the accounts do not comply with the accountin8 rwuirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true aTrd fair view 1¢h is a matter considered part of an tndependeni exarnination. or the accounts have not been prepared in accordancc with the methods and prirKiplcs of tht Statement of Re¢ommended Pra¢ii¢e for a¢¢ourtlithg and reporting by ch8ritJ¢s (applicabl¢ ¢hatities prtparing their aurtts in accordance with thc Financial Rep)rting Standard applicablc in the UK and Republic of Irclar {FRS 102)). I have no ¢oD¢¢ms and have ¢om¢ no other Matte in comlection with th¢ examit)ation whi¢h ary¢ntson should be drawn in this report in order to cnablc a proper understanding of th¢ accounts to be reached. Johns Jones and iAJ Lirnited Page 11
CARDIFF sfEIiYER EARLY YEARS CENTRE LTD Stteth¢ttt of FiTrnti*l Attivities FOR THE YEAR ENDED 29TH AUGusf 2024 2024 To¢a] fur¥Js 2023 Total fid$ Unrestricted Restricted od fund INCOME AND ENDOWMENTS FROM Donation5 2nd legacies 635 9.794 10.429 12.957 ChAritabJt attivities Parenr and toddler School Fees Kindergarten fees Wraparound care Hall hire 4,894 778.291 99.318 17.849 2.000 4,894 778,291 99Jl8 17,849 4.784 699.978 88.634 16.892 1,995 Other fundraisin8 activities Other in¢0 5.346 39 5 J46 39 6.056 22 Total J8.372 9,794 918.166 831,318 EXPENDITVRE ON ChaTitable 8ctivititS Pupil ExperLse Esrablishment expense Bursaries awarded Sibling discounts Administration expenses Stsff costs Staff discounts Governance Fundrai5in8 arKI publicity 86,371 82.378 8.545 61.079 29.940 562.505 35.272 3J60 7,749 86,371 82.378 8.545 61.079 29.940 562,505 35.272 3.360 7.749 66,022 75.648 3,681 49.140 33.141 524.101 24,104 3.241 6.997 Oth¢r 12.658 9.794 22,452 22,206 Total 889.857 9,794 899,651 808,281 NET INCOME 18.515 18,515 23,037 RECONCILIATION OF FUNDS Total fund5 brought forward 289,660 20,0(A) 309.660 286.623 TOTAL FUNDS CARRIED FORWARD 308.175 20,000 328,175 309,660 The notes forn] part of these finan¢ial sthttments Page 12
CARDIFF STEINER EARLY YEARS CENTRE LTD (REGisfERED NUMBER: •7998357) et Slbe¢l 29TH Aucusf2024 2024 Totsl funds Unrestriaed fund Restri¢*d fund Total fi]nds e$ FIXED ASSETS Tangible assets 303,456 105,414 408.870 427,075 CVRREiYf ASSE75 Debtor5 CLsh at bank and in hand 32.324 175,874 32.324 191.844 15,970 190,680 208.198 15.970 224.168 209,900 CREDITORS Amounts falling due wiihin orK year 12 {121.540) (121,540) (124.843) NET CURRENT ASSETS 86.658 15.970 102.628 85,057 TiyfAL ASSETS LESS CURRENT LIABILITIES 390.114 121.384 511.498 512.132 CREDITORS Amounts falling dy¢ after more than one y¢ar 13 (81.939) (81,939> (91296) ACCRUALS AND DEFERRED INCOME 16 (101,384) (101.384) (111.176) NET ASSETS 308.175 20.0 328.175 309.660 FUNDS Unre51ricted fitnds Resiri¢ied funds 17 308.175 20.OL 289.660 20.000 TOTAL FUNDS 328.175 309,660 The charitoble company is eniiiled to exemption from audit under Section 477 of thc Companies Act 2006 for the year ended 29th August 2024. The members have not required thc cornpany to obtsin an audit of its fijwicial sthtements for th¢ year end 29th August 2024 in accordance with Section 476 of the Companies Act 2(. The trnsiees a¢knowledge their respJTh5ibilities for (a) ensurin8 that the charitable company keeps a¢tIng r(dS that comply with Sectkon5 J86 and 387 of th¢ Companies A¢1 2006 and preparing financial statements which giv¢ a true and faw view of the sthte of affairs Of the charitable company as at the end of each finarKiai year and of its surplu5 or defjcit for each rJnanci year in accordan¢e wilh the requirements of Sections 394 and 395 and which oth¢rwis¢ comply with the requirements of the Companies Act 2006 relatin8 to fman¢ial ststements, so far as appli1¢ io the charitable company. (b) The note5 forn part of these financial statemenis Pag¢ 13
CARDIFF STEINER EARLY YEARS CENTRE LTD (REGisfERED NUMBER.. 079983S7) Bahoce Sbeet- tonlinued 2yfH AUGUST 2024 These financial statements have been prepared in a¢Idance with the provisioJL% applicable to charitable rornpanie5 5ubj¢d to the small Companies regime. The financial siatcments were approved by the Board of Trustees aThl #uthorised for issue on ..17.las.Izs . . atml w¢re sigd on tts behalf by.. B A C Bowen- Tnjstee The notes fomi part of these financial ststernents Pag¢ 14
CARDIFF STEINER EARLY YEARS CENTRE LTD C$h Flow Sttemeat FOR THE YEAR ENDED 29TH AUGU 2(124 2024 2023 C95h llows (rom oper•ting attivities Cash 8enerad from operations 5.412 38.979 Net Cash provided by operdiing activilies 5.412 38.979 Cash now$ (rom inwestillg ¢tiviti Purchase of tangible fixed assets (4.248) {15.099) Net Cath us¢d in inveIng activities {4.248) (15.099) Change in cgsh gDd cash tquivAlents- th¢ reporting period Cash and cash equivfilents at the beginning of ilbe re¥Klrt¥Trg ptriod 23.880 19).680 166.800 Cash cash ¢quiv•knts •t the ethd of the reporting period 191,844 190.680 The notes form part of these financial srat¢m¢nts Page 15
CARDIFF STEINER EARLY YEARS CERE LII) Notes to the CAsh Flow Stt¢me•t FOR THE YEAR ENDED 29TH AUGUST2024 RECONCILIATION OF NET INCOME TO NET CASH FiK)W FROM OPERATKP4G AcfiviTIES 2024 2023 IYe¢ in¢ome for tht rertIng period (•$ p¢rtht St#temen¢ •f FiManal Attivities) Adju5tment$ for: Depreciaiion charges Movement in cash and Cash equivalents Incr¢a5e in d¢btors Decre in creditors 18,515 23,037 22,452 (12.534) (13.1041 (9,917) 22.206 7,372 19,5551 14.081 } cash provid by op¢rtions 5.412 38.979 ANALYSIS OF CHAIYGES IN NET FUNDS At 30.8.23 Cash flow At 29.8.24 Net Ush Cash at bank and in hand I•.680 1,164 191,844 190,680 1,164 191,844 Debt Debts falling due wjihin l year Debts falling du¢ aft¢r l year {57.630) (91.296) (57,630) (81.939) 9.357 (148,926> 9.357 (139,569) Tot41 41.754 10.521 52.275 Th¢ nos form part ofthe5e finan¢ial statenxnts Page 16
CARDIFF sfEINER EARLY YEALS CERE LTD Notes ¢0 the FiDnti&l &xtememts FOR THE YEAR ENDED 29TH AUGUST 2024 ACCOUNTI]YC POLICIES Basis of prepxring the fiThantil st*l¢ments The financial statements of the charitable Company. which is a public benefit entity under FRS 102. have been prepared in a¢¢ordanc¢ with the Finan¢ial RertIng Standard 102 ' Tr Financial Rep)rtin8 Standard 2ppli¢able in the UK and Republic of Ireland, and the Companies Ari 2006 The financia] stst¢tn¢rtts have been prepared urmler the histori cost ¢onv¢nuon. The preserrtation currerKy is £ sterling. Ineome All income 15 rec4)gnised in the Sratement of FitwKial Activities once the charity has entltlemeni to th¢ fimds, it 1$ probable that the inCOTne will bc received and the amouot catt be measured reliably. Grant income received for the purchase of fixed assets b5 deferred and rele&qed to the profit and loss a¢couni io match with the d¢preciaiion of the grant purchased &wt. EXpenditre Liabilitjes are recognised as cxpcnditure as soon as thewr is a legal or consiN¢tive obliwion committin8 the charity lo that expendiiure, it is probable that a transfer of economtc benefits will be required in settlem¢thi and the amount of the obligation eart b¢ m¢&wred reliably. Expethlitur¢ 1$ a¢¢ounted for on an at¢ruals basis and ha5 been classifi¢d undcr heading5 that aggr¢gate all rost related to lh¢ cale80ry. Wkr¢ c05t5 cannot be directly
ttribuied to particular headings they havc be allocated to activities on a basi5 C0Th5i5tent with the use of
re50urce5. Tangibk fued issets Depreciation is provid¢d at the foUowin8 aoThtal rates in order to wYi off each asset ov¢r lis emimated useful life. Freehold buildings - Straighi line 49 Fixiures and fitting5- Strdight line 2A Equipment- Strai8hi line lo% The charity is exempt from corporfion thx on its charitable a¢iivities. Unre51ricted funds ¢an b¢ used in a¢¢ordance with the ¢haritable obj¢¢tiv¢s at the discr¢iton of the trustees. Restricted funds can only be used for particular restricted purp)ses wiihith the objects of thc charity. Restrictions arise wthcn specified by the dotK)r or when fund$ are raised for parti¢ular restricd purposes. Further explanation of th¢ nur¢ artd purw of exh fimd i$ IlUded it) the [e$ w the financial $tstemer. DoDXted goods gnd 8trvites Donai¢d goods atMI services (irtluding volunieer lime). are rtcognised in donation. and as expenditur¢ attrIb¢d to ihe relevant nature of the goods or service. Page 17
CARDIFF sfEINER EARLY YEARS CENTRE LTD Notes to the Financial StatemeDts- ¢ontiDwed FOR THE YEAR ENDED 29TH AUGUST 2024 Dof4ATIOP4S AND LEGACIES 2024 2023 tkjnations 10.429 12,957 OTHER FUIYDRAISING AcriviYiEs 2024 Fairs Other events and fvndraising 4.959 387 5.926 130 5,346 6,056 INCOME FROM CHARITABLE AcfiviTIES 2024 2023 Activity Parent and toddler Schwl Fets Kindergarten fees Parent artd ddkr School fees Kindergarten fees Wraparound care Hall hir¢ 4.894 778.291 99.318 17.849 2.000 4,784 699.978 88,634 16.892 1.995 Ha]1 hire 902,352 812,283 In¢lded in unrestricted voluntary irt¢L¥ne aTe donations for maTketin& rnaintenance and Cleanin& valued at £ML. (2023.. £NIL). Donated markding services £NIU2023 £NIL) Donated cleaning service5 £NIL (2023 £NIL) Donated IT servi¢es £NIU2023 £NJL} Donated maintenance Servi £ML (2023 £NIL) Gift aid amounted w £0 (2023.. £661). Durin8 the ye¥ the Charity received ffstrid¢d donations and gTarti$ of £ML which were sr¢nd during the year. An additional £9,794 deferred 8rani incorne (received 2017-18 and 2018-19} for the purchw of fixed wets, w&$ reled to the profit artd loss a¢¢ount to maich the (kpr¢riation of thc grant pUrChad a55cI5. Page 18
CARDIFF STEINER EARLY YEARS CENTRE LTD Notes to tbe Financial StatewentJ- conlinwd FOR THE YEAR ENDED 2yfH AUGvsf 2024 CHARITABLE AcllvftTIES COSTS Direct Costs Pupil Expense Estsblishment expense Bursaries awarded Sibling discounts Administrdtion expenses Staff ¢osts Staff discounts Governance FundTaising and publicity 86.371 82.378 8,545 61.079 29,940 562.505 35.272 3,360 7.749 877.199 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) 1$ swed after ¢hwginglluediling): 2024 202i Depreciation- owned assets 22,453 22,207 TRUSTEES. REMUP4ERATION AND BENEFtIS The trustres did receive any Temunerdtion for their services as trusttts during the year. Tru5tee5' expense Tntee$ received expense$ of £0 during tht period (2023 £NIL). STAFF COSTS Staff wJts during ihe year amounts 2024 2023 Wages aThJ salaries Social security Staff discounts Staff training and development 515,983 43.213 35,272 3.309 481,321 24,103 5,497 The averd8e monthty number of employ¢es during the year was as follo. 2024 25 2023 26 All sthff No employee received employee benefits of ftM)re than £60.00Q. Page 19
CARDIFF STEINER EARLY YEARS CENTRE LTD Notts to the FinxD¢iAI StAt¢m¢•ts- eontlDued FOR THE YEAR ENDED 29TH AUGUST 2024 COMPARATIVES FOR THE STATEMEwf OF FINANCIAL ACTIVITIES Unrestricted fund Restri¢ fund Total funds INCOME AND ENDOWMENTS FROM DatiOnS and lega¢ies 3.163 9.794 12.957 ChgritAbl¢ •¢tiviti¢s Parent ar trd]er Sch(x)l Fees Kindergarten fees Wraparound ¢are Hall hire 4.784 699.978 88.634 16.892 1.995 4.784 699,978 88.634 16.892 1,995 Other fuTKlrai5ing aclivitie5 Other income 6,056 6.056 22 Totsl 821,524 831,313 EXPENDITURE ON ChAritAble activities Pupil Expense Estsbli5hment ¢xp¢n5e BuT5aries avdrded Sibling discourtts Administration expenses Staff costs Staff discounts Goveman¢¢ Fundrnising and publicity 66.022 75,648 3,681 49.140 33,141 524.101 24.104 3,241 6.997 66.022 75,648 3.681 49,140 33,141 524.101 24.104 3,241 6.997 Other 12,412 9,794 22,206 Totsl 798.487 9.794 808,281 NET INCOME 23.037 23,037 RECONCILIATION OF FUNDS Total funds brought forward 266.623 20.(1)O 286.623 TOTAL FUNDS CARRIED FORWARD 289.660 20, 309.660 Pa8e 20
CARDIFF STEINER EARLY YEARS CENfRE LTD Note5 10 the Stat¢mtnts- comliDued FOR THE YEAR ENDED 29TH AUGUS[ 21124 TANCIBLE FIXED A&Sm Fixlures Fweellold Plani aThJ machinery Computer equipment fittings Totsl$ cosr At 30th August 2023 Addition5 527.796 54.501 3.289 9,727 359 592.024 4.248 At 29th August 2024 528.396 57,7 10,086 596,272 DEPRECIATION At 30th Augusi 2023 Charge for year 116.766 15.¢K16 44.109 6.637 4,074 164.949 22.453 810 Ai 2h Augusi 2024 131,772 810 50,746 4,074 187,402 NET BOOK VALUE Ai 2h August 2024 396.624 (810) 6.012 408.870 At 2%h August 2023 411,03Q 10,392 5,653 427,075 Freehold Pro The freehold property is in the opinion of the direthrs {trustees) a gener•1 asset of the company and is dKreforc included in general funds. This trearneni follows the director5. opinion that the amount of re5tricied funds spent on refwbishmen¢ ¢anTh)i be distiogui$bed from the rest of ihe s¢11 property whi¢h is a part of the general fund The freehold property include5 addition5 this perii)d from re5tri¢ted fund of £600 (2023-. 10.598) for buildinglrefijrbishmetli ser¥i¢e$ at)d Yelated eos Fixture5 and Fittin Fixiures and fittings includes addilions this period from restri¢ied fijrtd of £5.397.56 (2023..£0). Corn uter ui ment Computcr equipment include5 dillonS this pcricrfl frorn Tcstricted fi]nd of £359. (2023..3.1201 All thc assets re used for direcl charitsble Pur5¢5. ii. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prtpayments 28,978 3.346 17,678 1.542 32,324 19,220 Page21
CARDIFF STElf4ER EARLY YEARS CENtRÈ LTD Note5 t• the Fimncil StiemDtS- ¢OlItjDued FOR THE YEAR ENDED 2YfH AUGUST 21124 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other loans {s¢¢ note 14) Payments on account Trade Creditors Other ereditors A¢cwed&xpenses 57,630 41.402 15.642 3,686 3,180 57.630 44,580 15,848 3.785 121,540 124.843 CREDrroRS: AMOUIYTS FALLING DUE AFTER MORE THAN ONE YEAR 2024 2023 Other loan5 (see 14) 81.939 91,296 14. LOANS An analysis of th¢ marurity of loans is 'Ve bEIow. 2024 2023 Amounts falling du¢ thin one ye oth demarhj.. Other102ns 57,630 57.630 Amounts falling betsveen one years.. Other loan5- 1-2 years 30.520 30.520 Amounis falling due in rnOTe than f¢ ytars: Repayable by ItalMents. Other loans more 5yrs iAsthl 51,419 60,776 15. SECURED DEBTS The followit)g srfur¢d d¢bts grt irKluded within credil0f5.' 2024 2023 Other loans 139.569 148.926 Th¢ company has granted a charge on lis &ss¢ts to secuff cthr loan5 of £139.569 (£2023.. £148,926). Page 22
CARDIFF sfEINER EARLY YEARS CENTRE LTD Nola to tht Fimmcial StatemeTrts- tomtitithed FOR THE YEAR ENDED 2YTH AVGUST 2024 16. ACCRUALS AND DEFERRED INCOME 2024 2023 Deferred grants IOlJ84 17. MOVEMENT IN FUNDS During the year the value of restricted funds utiliseA in the improvement or purch&8es of ets amounted to £0 (2023 £13,717). 18. RELATED PARTY DISCLOSURES There were no related party transactio for the year ermled 29th August 2024. 19. MEMBERS The CoMpY has no share capitsl and is limiied by guara¢¢. The amount of the gu8rnTrtee is £2. 20. MANACEMENT AND ADMINISTRATION OF THE CHARITY Included govern¥ce expenw are in$p¢uion fees of£3,180 (2023 £3.OfKI) 21. FUNDRAISING AND PUBLICITY AcrivrriFS Fundrdising and publicÉty c05t5 (includcd in charitsble expe¢$) for the year aTrJunied to 2024 2023 Unr¢$tri¢icd 7.749 6,997 Pw23