RECISTERED COMPANY NUMBER: 079983S7 (England W#les) REGISTERED CHARITY NUMBER: I149061 Report of the Trustees and una￿dited Financial St*tements for the Year EDded 29th August 2025 for CARDIFF STEINER EARLY YEAILS CENTRE LTD 11111 111 "AF2YV16X' 27105r2Q6 COMPANIES HC4JSE #1Y2 CARDIFF STEINER EARLY YEARS CENTRE LTD Contents ofthe Finanei*l Statements FOR THE YEAR ENDED 2mi AUGUST 21125 Page Report of the TThste¢s I to 11 depeDdtnt Examiner'5 Report 12 St#temen¢ of Adlvities 13 Bgl*nee Sbeet 14 to 15 Cash Flow Statement 16 Notes to the Cash Flow St•temeit 17 Noteg to the Finan¢¥￿ St4¢emewts 18 to 24 CARDIFF STEINER EARLY YEARS CENThE LTD {REGISTERED NUMB£R: 07998357) Report ofthe Trwtefs FOR THE YEAR ENDED 29TH AUGusf 2D25 Th¢ TnL8teu of the charity ate also 0￿1￿5 of the C(*npany fordY of Cdomwy law. TnL5tees who served during the yearand daw 0[ap￿￿oI￿¢￿t as follows: Ms B A Bow¢n. cha￿pu￿ wiint¢d Oct 2020 (apEKMlltd ma￿ 2012. rtrekction July 2015. May 2018. (ki 2020. July 2024) Dr K W Attfield ap￿)Inted Jun 2022 (ap￿illIoJ July 2014. rededion Jul 2016. Aug 2019. Jun 2022, Jul 2025) Dr H D Evans apwnted Aug 2020 (ctropted Aug 2020, rdtified (kt 2020, re-elecii¢)n Aug 2023) Mr M A Flynn ap￿lAted Jun 2022 (C￿0pted February 2019. Tatified AUE 2019. retlection Jun 2022. July 2024) Mr R kn'ghi appointed Feb 2022 (c(wted Feb 2022, rdtifial Jun 2022JE election Jul 2025) Ms F Wlu"ieside apwinted Apr 2￿20 (cw7tryl 2020. r81ified Od 2020. re-¢leciioJ) Aug 2tr231 Prof J LewLS Co-opityj May 2025, tatified Jul 2025 Dr J J Green ctwted May 2025, ratified Jul 2025 Trusiee5 may be appoirt￿d by exisiing TnLStees or nomina*d ele£ted by the ¢hariW$ members ai the Annual GcTJeTal Mcetiug. Thr Board of T￿￿[￿¢5 evalu*e the CUTreni bala￿t of 5kn"115. knowledge and expeTicnce on the Board in Seeking to recrnit any Trustee role5. Tn￿teeS are interviewed and ￿d￿cted in their role by existjng inL5tees. and ar¢ provided with a ytsi¢m¢ni of r¢swnsibiliii¢s. i￿j￿cli0Tr pack and inf1)rn￿tion oth key wli¢i¢s, proc¢dur¢s and governing d(￿Uments. Trus*es uThJertake training &8 requue4L both individual rol4 orto the Board as a whole. OWEcfivES AND AcfiviTIES Objetdves of the eharlty "To advan¢e th¢ ¢ducation of childrEn and y(xmg peijpk atMI f￿nI]leS and individuals in W￿rdanCe with the educaiional pnn¢iples of Rudolf Sieiner.- The chan'tys mi&sion sthiemeDt is. We pro*ide an inspiring and nUrtll￿g cducation b&8ed on the principlcs of Rudolf Sieinei that ffspects each C￿"1d'S jnth.vith￿I development We serve the city of Cardiff and surrw)ding areas. aTh welcome children and familics from all culturdl attd religiou5 bxkgrounds. We Seek to fully interact with the wider ¢ornmwiiiy through projects and events. We offer a coMprehe￿￿'Ve child-centred edLub¢)n through p3r¢nt and chikl gmups. kthderganens and a offerts￿ a livin￿ Steiner ¢￿￿1¢￿1￿m. EV￿YthIng we undert￿¢ we strive io t ethi.cally. Co￿8¢10usIY and with inieKnty.° SignAfleaDt activities The Sch(xTrl succe&thilly tompletd its thirteenth ye&T of growtty and our fifth yesr yi]Ke offering a full Steiner Waldorf eduution fn)m age 3 to 18119. 2024-25 w&s the seventh ye4r of the Sch(x)l offering th¢ New Z￿and Cen]fica￿ of Sttiner Education (NZCSE}. CARDIFF STEINER EARLY YEARS CENniE LTD (REGAsfERED NUMBER: 07998357) Report of the Trustees FOR THE YEAR ENDED 2yfH AUGUST 2025 OWEcfivES AND AcfiviTILS Voluntttr5 and community Support The charity g￿￿Y values and benefits frorn the exceptional c(jnM￿lltion made by our volunteer& Parents, staff, supw)rters and extended familiGs play an active and vithl ￿le in the life of Cardiff Steinu S¢hfy)l. Their invaluable efforts inclltde organising and nmnin8 community ev￿ts, maintainin8 and tnhancll￿ the sch(K)I grounds. 5UPPOrting pupils, learning both in the Classroom and on ed￿tional trips, and leading fi￿d￿￿ill8 initiatives. In accordance with the Clarities SOR￿ {FRS 102). the fuwicial Wal￿ of thue voluntrer ¢otMribuiions is not recognised in the Staiem¢nt of Financia] Activiliw &8 it cannot be rehably JDeLwred ID monelary terms. However. the TnLStees remaiTh deq)ly gra*￿1 foT this ongoing 8upwrL which fornis the b¢dr¢xkofixw S¢lNx)l community. Thi$ year, our Parent Reprcsentstives {Rep5} 5ucccthlly launched a Cardiff Steiru Community WhatsApp umbrella networK introducing cl&ss-specifi¢ and inlertsi-basa subgroups to enhance partntal connection. To ensure thcse digital 5pacr5 rcmain p)5itivc and scru￿. the Schwl Collakn￿d ¢k*ly with Reps to esth1￿ community self-regulalion guidelines alongside a f()nnal &Kial Media Comtnunication Policy. Thi5 proactsve wotk SUc￿fUllY 5afcguards the PTiva¢y, dI￿ltY and wellbeing of staff and famili4 prov1d￿8 a clear frarnewi)rk for healthy, rewctful, and constNctive online engagemeni aGr05s Lw Commwiiry. The paTent.led Craft Group succe&sfully this year, offtring A welcoming, crntive sp&e for parents io cA)nrt￿t. This initiativc effectively str£n8thened cornrnunty ti&s. welconKd new farnilt&s, and encouraged wider pllrticipation in School life. A ttlajor higmight of the year was the fllst sch(x)I Ceilidh held iti April. I￿Stigated by our teachiftg staff and supported by Parent Rep3, tlll's vibrallt ev￿1 brought togetkn pa￿￿14 siatt friends and alumni in a celcbrdtson of music. dance and shared community spiriL The ev￿1ng fe2tsJred a bTilli8nt live band ¢omprising curreni and fonner stsff. The event was 8 Jrsoundjng success. fostering a deq) sedw of c4)nne¢tsm and muiual rewt between staff aJNJ families. Feedoatk was overwhebnm8ly positive. underxry immeLYe value of shared cultura] and creatsve experiences. Last yeaes succe650Jl reinvigoration of the Garden Group demonstrated th¢ increth'bk impact of parent-led leadership and collab￿tiort. Following the 5uc¢essful ¢ompldion of its Phase I projecL a con5ttucuve feedba¢k exetCi5e pn)vided invaluable insights. for the futu￿. Build]DX d￿Y oll tbese IGwns. pla￿5 att in p￿gr&S5 to launch its. Phase 2 project for revita]ising our outdoor Spa￿5. The Dext P￿￿ brings tO8ether fxulty, mana8er5, parents and sbJdents under a Stn￿￿red framewoTk with designatrd fi￿]0] authority, clear health and safery prott)cols. and rlftgfenc￿ resources, ensuring volunteers have the Creative firalom ￿ develop our outskny spaces while remainll￿ fidly by clear lines of s¢lKK>I accountability and 5tskelK)Idcrsur4M Th¢ sucvss of tkn Anitiatives highli¥hts the of providing a diverse Tange of Op￿rtunI￿"t$ foi our nununity to Moving fmward the Parn)i Representsiive5 and School Management Team are exploring a tiered approach to relational engagemenL incluts xc£&sibk, low-barrier entry points for bLLSy falllilies, such as irrfortnal coffee mornings and i￿or￿nation-shaf]ng meetings, alongside more structure refine differentsation, aion85ide se&sion5 reinforcing our P05ilive Learning and Presenthts"on of WO￿ polici&% Rob¥st Leadership Monitoring Fr￿neWorks. Lea(krthw struckn bave IML substantially streDgdKned to irnprove the oversight of pupil oui¢omes. The Educationa] C(X)rdIna￿ (Edcom) meeling is now r￿MIY ￿tablIShe(L and a Midd]e School Cwrduwor was ap￿in￿ d w e4thance the overs￿h1of Cla&w fvlo. Enhanc¢d Wellbei￿8 and Altend3Dc¢ Systems.. Key improvements were made to care and guidance systems. A ncw, weekly attendance data collcction proc¢s5 wa5 establL5hed. bxked by a clearly communicated Attendance Lntcrvention Pr(K&55. This strEngthEned the clarity. coThsistcncy and xcountability of attendance procedur&% across th¢ S¢lMyJI comrnunity. (hjr Community continues ￿ expand as a welcorning home for famili&s relocating frorn acr(￿5 the UK and around the gl(A)e. We proud]y identify an international We]sh ￿h[K￿l, d¢¢ply rwt¢d in our lo￿1 landwp¢, yet enTi¢hed by gl¢Y)al P￿3￿ctives. This healthy diversity broad￿ the educaiioTd esperience for all. ThJw8hout the year. this dIVe￿e ideniity is beau11￿llY woven into our seasonal fr51ivals. hoThJuw our fami"lias' unique tradition5 whilc f05tering a living culture of inclw%ion. rnutuat respect and sbwed Lthtsnding. Collaibxalive ptherships continue to significalltly rnricb our pupil pTh)visioll and staff dcvclopment. As an accredited provider of the New knland Certificate of Steiner Education INZCSE). the Sch(x)l tr￿tfits from rigon)us quality.managcmerLt and a&￿￿￿ent trdining delivered by the IicerLsing Ixmly, the Steiner Education Development TnLSt (SEDT). Our sup[￿l¥C Trlationships with other UK Walthjrf ￿h￿l$ delivering the NZCSE facilitate resource-sbanng, peer m(xleratson and professional d￿logUe, etLsunng trLigh WASiStency across our Upptr S¢hool. Fumhellnote. our active ljaboration with Waldorf UK provid¢5 invajuabk (¢wrnnllties for adv(tacy. t￿l￿r training and development a¢r(￿S the wth S(einer w￿d0rfnetw0Tk The Tn￿tte& are deeply grdieful for antmher yw of groth. achievemen( and shared conunitmenL We extend our heartfelt thanks to the entire SthcA)l ¢¢)nununity. The sUp￿rt and EC￿￿111 of our parnits. the rtsilierte and enthu5ia5m of our sftjdents. amd the dedi￿11￿ aThJ pr￿f￿i0na1isrn of our faculty and staff have all played a vital role in enabling the School to deliver our distinctive education - one that 15 ￿l￿an[ purposeful, and respxjsive to the individual ne&b of each child and young peT50n. Together, we continue to urknold and enrith th¢ valu¢s at the heaff of our educational mi&sion. Page 4 CARDIFF STEINER EARLY YEARS CENfRE LTD (REGisfERED IYUMBER: 07998JS7) Report of the Trustees FOR THE YEAR ENDED 29TH AUGusf 2025 FINANCIAL REVIEW Review of fi￿*￿¢e% These ar¢ th¢ for Cardiff Steit*r Eatly Years Cethtse Limit￿ (CSEYC) fmm I Sefftber 2024 to 31 Augusi 2025. General Fund The main financial aim of the charity is io eLwre the cort Yunning ¢wts of the Stho)l are met by Core income Sources in order to support the ¢han"thble ain￿. These core income SOUT￿ fres and a small rentsl income from lllre spacu. Th¢ Sthiem¢ot of Financial A¢tiviti&s for year shows a wlu5 of £26,137 (£18,515 in the previous year) unres¢Tic¢ for incoming and expended [￿￿T￿. This is the twelfth successive year of sujpius. and the Trustees co￿lder this a glMKi achievemeni for the chan.ty ovet a Susthuxd pencd of gro￿ and ¢xFonSio￿ and in a ¢1￿￿1¢ of sxwr. and wider e¢onomi¢, challen¥e. As a Small school dedicaied io social inclusivity the tharity prudethily manages finances to rnake a $mall sulp1￿$ suffi¢ient to maintain an appropnate reserves fund. This mea￿$ that the SCI￿1 ks sensitive to the cutteni type of secior and economi¢ ¢haJleng¢. The Sch(x)I continucd to act re5pM￿Ye]y to mainlain its fmancial secuTity through cateful monitorin8 and review of outgoings. and w0￿1ng closdy with parents to manage their fecs payrnents and providc payrnent options wh￿C a fatnills abilily ￿ pay in the IMM￿la￿ (ern) was affttted The Schcol's primary flljancial ￿￿11¢￿8¢ this yw Davi8atmg the itnplernentation and impact of the UK Governments intrtthtion of 20°A VAT fets fton) January 21Y25. To manage this transition proactively. the Sch￿1 n]xintaiMI trawaeni cK)mmutii¢atithh with parents the auDJmn of 2024 as govemmenr policy, and the Sch(x)I's re5[x)￿ ￿ this. solkdificd. A compreheTL%'ive parent SUTvey was conducted to identify famili&s most vulnttable io the film￿101 pressure, allowing the Sch(x)I to develop a robust VAT M3na¥ement Plan. Centlai to this 5tsaiegy was the intrcduciion of a new VAT Transition Bursary designed to supr families at risk of leaving. Tht's schcme w&$ succe&sfully funded by rtt]aimmg VAT on the Schcol's eligible capitsl and operational purchases. In April 2025. the Trusfv approved and tommunicatrd a mcthsi fee increase of 2.8•/0 for the forthc¢)rning 2025-26 aGademi¢ year. aligning dIr￿llY with th¢ Consumer Price Index (CPI) at the thme. This Co￿e[VatiVe adjustsneni was a deliberate ¥trdtt¥iG choice to cushion fan)ilies who had a]r• abyybed the January 2025 VAT dwJ¥e, priorilising student re￿7110￿ at*)v¢ au else dunn8 a volatik ￿0￿til¢ PttKKI. This 2.8Q/o increase wojld noi accouni for £23.IYM) per annum in statutory cost irKreases'. specifically. a £13.500 per atmum rise in employer National IrL$uTaJ￿ contributio￿$ and a £IO,(KM) pressur¢ from th¢ 10s5 of charitable blL51￿55 rnte relief {effecuve April 2025). Con%quendy, the fec adj￿￿tMent represen￿1 a contraction in rtal *m)s'. The School planned to absorb thebe ¥taiutory ov•theads in the slM)rt tern, utilising the budgetary 'cushion' generated by the 2025-26 fmancia] y¢ar. wkn'¢M due to our combin￿claSS [eprtSen￿ an alten)ating hL'gh¢r-enrolrnent year. The S¢h(x)I intend¥ ￿ recoup the £23,000 sthiutory Shortfall by inumwatsng it into the sub5equen¢ yea fee review, ensurin¥ lon¥.tenn viability withtym compromising c(YJDmUDity stsbility. The School's suaiegy successfvlly pro*c*d a￿lment kve15. with no cunent families leaving the Sch￿1 d￿e solely u) the introduction of VAT in the year. A defin]"tive highlighi of the year was the excqjtional turnaround in our KUth￿allen admissions. culmi"naung in the mii¢stone r£openin¥ of our second in sep￿mE¢r 2025. For several years, the Sch￿1 has had to absorb the fll)ancial and opeMioDal ]m￿L of a "Covid Kap"_ a multi-ycar thline in eaAy years nwnbers S￿Mming from the irthility to eDrol In￿ our Eatly Yeats during the 2020.2021 l(KkdO￿. This prtssll￿ was compounded by national demographic shifis, the rise of remote work￿& and widespread economi¢ coThstyaints. Anti¢ipating thai this cycle would take until mid-2024 ro ￿1]Y work its way through, the SchiM)1 spent the 2024-25 year exttuting a mulii-jayered sirdt¢gi¢ plan to rel￿1￿d our Early YeaTS foundati(o). Through the dedicated efforts of our Admtssions and Kmdergrn te4ms, this f(Ku5ed work successfully reversed the treTh¢ expanding enroimeut ￿ a r01m￿l 25 thildni and securing a s*ady piprline of ￿tUre enquirie& Thi"s gro allowed us to reve¥se the ￿m￿rary cott801idaiion In￿ a single Ki￿0rteD of 2022, and confidently relaujjch thc second K￿dergarten group fr[￿ September 2025. Pag¢ 5 CARDiFF STEINER EARLY YEARS CENTRE LTD (REGISTERED NUMBER: (1799835T) Report of the Trnstee5 FOR THE YEAR ENDED 29rll AUGUST 2025 This ttmaround w&$ driven by three key strategic iniliatives uwlemenl￿ over the year. Enhanced Lead NllrtUTing: We lntrcdu￿I a highly pe￿(￿l￿ed admissions ioumey with teswke follow-up5 for all vi¥itor& Kindergarten teachers. UTthft￿k rraining ￿ cond￿1 sUp￿rtIve caus. eDgagillg fatnilies in meaningful Convmatsons that Warn￿ y guidsj them toward enroknenL DeepeDing Community Rdationsbips: We strUJgtl￿ the vithl bridge between Parent & T￿jd]er grDup5 and the main Kin(kr¥artcn throu8h shared 5tatrm8 and cr055-w>up visits. deepeTr5 early cont￿￿1)n$, aligns our pedagogical appro￿ ensur&s SJDfKJ tkn tizDsition5 a￿1 sigDifiwidy in¥Jrov¢s athnk5Si0Th5 fOr￿&st] Unlocking Chijdcare FundiTrg: To ease ecc¥M)nll¢ PTe&wrts for familie5, we registered core Kindergarten hour3 as fornal childcare (extending our existing Wraparound Care registration). This unlocked fthther government fijnd childcare, making our Early Y ears education m¢)re accessible and affordable for workts)g families. These su¢¢e&sful strategies have only T&8iored our Kitthgarten nutnber5 but have ￿vital￿] our Early Y¢aTS provisiotl. a￿U[l[l8 a thn"v]]]8, 5U5tsinable fouTMlation for the SclKM)I's long.ternL growth. Totsl Issds stand at £647,183 (£633,038 the prwous year} ctswising £391.452 in f￿rd 455ets aTrJ £255.731 in cash at bank at￿ in hand and debt oTrwoJ to the ¢han"ty. The rduction is due to depreciation. Arnounts falling due withm l year are £129.646 1£121.540 the previo￿8 year). After atnounts falling du¢ after m¢)r¢ than one year and deferred grdDt mcome, the total fuTMLs of the charity. are £354J12 (£334J12 unrestrtcted and £20,(x)O restrieied) up from £328,175 th¢ previous year. FLrruRE PLANS IA)oking ahe4(L the Sch(x)I's pnmary d¢ve1￿ment thje¢uves fwus on su5tsirring our financial resRliette. enFTrching iyjr campus environm¢nL ard contiouing ￿ (efme our disli￿¢￿￿¢￿1O￿ pathways.. Long-Tenn Fln8nei*l Reslllence: Maintain the SchiK>I's flljancial health through p￿lSe budgew managemen( ensuring we succc&sfully absorb the ongoing ststutory iJnpa¢ts of incTeasaJ National JnsurdJKe contributio￿% and the 1055 of charitsble busin￿ ratc rel ief. Campu$ #nd Infrastructure Development: Fkn our physirni 1¢4rning ¢nvironm¢ni by advancing into the srfond phase of our building development progrdmme to sexure additi(￿al in&*)r learni￿ spaK alongside the purFK)seful development of our out(kK>r spxes. Early Years Su$tain*biiity: Capitali5c on w recajt adtni&%ion5 tUrna￿d by continuing target￿1 r¢cruittn¢nt and COIIVC15Loll 5t[ate￿¢S lo eTJ 5UfE 5UStainedgrowth a[￿ h"Lgh enTolment xro&s iM)th groups. Cllrriclllum EDrichrnent and Con501id4tiOD: Furthtr embtyj the delivery of the NZCSE by proactively leveraging its flexible. inth"vidualtsed pathway5. particularly the development of wxtic41 Appjied Lrarnmg mcdules. This will work in tandem with our ongoing rrfiTKmcnt of the Classcs &8 traLsition progran￿¢ 8t￿ the enti¢hment of thc Cl￿St5 8-10 curriculum to ensure pupils remain d ¢¢ply ¢ngag&J and fvlly up￿ SclxMTrl 5UCCtss. STRUCTURE, GOVERNANCE AND MANAGEMENr Governing document The charity is controll¢d by its goveming dcI Managemeni Team managing the onuoiftg o￿allonS and developmerti of the sch￿1. This approach ￿fleC1S the holisiic nattwe of Stel￿r eXI￿a￿00 and while adminisrraitvely more complex, allows for greatcr cotntDvnal res￿nsIbIlity. Each gTOUP Strives for thoughtful Jndep•thce. upholds Èts own wotk where rev￿81b111tteS ov¢Aap, under5thnds when an issue falls to a￿ther group, and works with the other groups with hontsty and iniegrity. The Board of Trustees . are re5wMwble for overau govern?￿e al￿ cany responsibility for th¢ kgai g¢xKI.sta￿jj￿g and financial well-king o f the Sch￿1 artd eLsure thai the chan.ty fulfils its charithble objKiives. The Education CoDrdin*tors Grfjup th¢ kh(K)I noi have a IK41 ￿her, but instead teachers sh8re responsibilities and work together in a non-h"et3rc￿.caI Structtur. The Education Cwftlinato￿ Group are responsible for pedagogical governance - for rnatte45 that dirrctly re]ate to the classmom aThJ the leaching of the children. inClud￿B pedagogy, ¢urti¢ulum d¢velop[[￿￿. &sscssment and the mentoring and evaluation of teacher5. Admilli%tr#tioll . iy made up of the Schty)l Administratsve Manager and S¢hc*)l Business Manager. Administrauon have resF4)nsibiliry for fllwLcejbL￿I￿￿4adTlll￿trdtiVe o￿a￿0￿￿. regulatory ¢ompliauct. contact with outside inth"viduals and agencies. maJkering. communi￿10￿$, thissiordenro]maLi facilities and fillKtraisinyJdevelopment. The School Management Te•m (smr) maDage5 the ongoing operatiOtL8 of the Schwl - coordinatin8. monitoring and reviewing the implementstion of the Sch(XFI Development and Improvemerts Plans and the activitits of the various spheres of the Schwl. Responsibility for moni￿ring and evaluat]ng the effeciiveness of the overall School Improverneni Plan is the responsibi]ity of thc B(wd of T￿￿tte5. W0￿￿)g with the School ManagtsnD)i TeartL to ensure thai the School delivers an inclusive aNI Iwality of educati￿ in lir£ with its charitable aims. Other ¢ros¥-¥roup rnaT¥Jated comuutte&% and task have rtsyonsibdity for syecific ￿lIVItieS of the School. Each of these oEerdtes as a marylated or d¢l¢¥aipAI ¥roup under the dittttson of otleof above.mentioned iKyJies. Tr Sch(x)l BusiTKSS Manager is deleghted by TnK%tres ￿ develop and manage financial policies ald practic￿ for the Schwl ]￿ludIng the following ¥rAs. - managing fuwKial polictes and prd¢ti¢es for the sclM)ol - rllJaThcial planning, bud¥eling and ffloniloring - annual budgeL fees, salary a￿1 ben¢fit review . developing. managing a￿1 impl¢m¢niing th¢ Bursary Sch¢tne - allddebi collection The Schwl Business Manager rem directly ￿ the TnL5ttts. wl¥) gr¢ r¢4Vn5ibk for th¢ QV¢Tsi¥ht of th¢ charhty, with all trus*&8 playmg an aciive role in th Pag¢ 7 CAiiDIFF STEINER EARLY YEARS CENTRE LTD IREGISTERED IYUK8ER: 07998357) Report of the Trustee5 FOR THE YEAR ENDED 29TH AUGUST 21)25 STRUCTUR[ GOVERNANCE AND MANAGEMENT Risk m4nagemenVReserve fund The have a duty to tdentify and review the risks to which the charity is eX￿Sed and to ensure awropriate The Trustees have teviewcd the rnajor risks to which the Charity is ex&wd and sysiems have been e5tsbllsh￿ to rtwJa¥e th{￿ ri5k3. The main fujanc￿] Tisk tt> the th￿lty is consi¢knd to be unex￿trA si￿lfICan[ 10&8 of income or unbudgetrd expendiThue. Total funds at year cnd were £354J12 (£334J12 unrestricbl and £20,￿1 re5tii¢t&l) up fm £328.175 the previous year. This incluths unrestri¢t&l ca¥h at bank aKI in hand and de￿ owoj to the charity 01£255,731 (£224.168 ID th¢ previous yearl represeniing appioxima*ly 4.3 mollthsolcore (yeiating costs (3.7 m(Mths in th¢ pr¢vious y¢ar). The TrUS1￿$ Co￿￿1der thal given the strength of the charitys balance sheel the ￿tful and pnthnt monitOTtng of finan￿, together with stable cafjh flow from fets. etsuve markding and Student ￿rul1]n¢￿t actLVlti&s. and the available bathg facility thai ca]led upon if neaj an5e5, that there is no curteni need to build a larger cash serve in the short tcnn. The T￿￿tr¢S rccomrncDd that, in order to mitigat¢ fiJtur¢ risK the ¢harity sh￿Id Continue work towards e¥tablishmgc&sh r¢serv¢5 of n¢t ¢urntass¢ts of 5 months run￿￿ cc6ts withm the nex15 ye￿. Pension Fumd and Liability The Charity usc NEST for their workplace t*JLSirn scheAne. NEST is W up by the UK govcrnmcnt and run by NEST Corw)rdtion, a non-&pathental wblic t￿y. The thariiy d￿Cts pay5 Pr￿10￿ contributioThs alld keep5 required records of erwolment. Th¢ Pension Fwid paid into NEST al yearend totalled £130.785 (£98.494 the previ(MJS year). Page 8 CARDIFF sfEINER EARLY YEAIiS CENTRE LTD (REGwfERED NUMBER: 07998357) Report of the Trnsttts FOR THK YEAR ENDED 29TH AUGUST 2025 REFERENCE AND ADm￿l$r￿AT1V6 DETAILS Fixed AssetslProperty The main fixal of the cFwity is the builthng and land knwn as Cardiff S*iner ScI￿L Hawthorn Road WesL The Sch¢x)l ¢arried out £12,130 of buiidmg tnaillteDaDcc aud trnewals" in the year (£40.19) ID the ptevious year). wo￿8 included sanding classroom pitch pir¢ fl(x)r4 refurblsbn￿Dl and redecordtion of Ty Haul 8￿j Ty Tan Cl￿r[>0￿]S a￿j staff toilets. and renewal of outth*)r shel*ts and p]aylx*uses. The Schwl inVeS￿d £5,075 in educAtiODal fixtura and equiprnent during the ye4r. £1.705 of which has bten c¥itsli5ed in the f￿￿KId1 statements. This iNluded new sewing D￿h]￿. ALN rixjm table and chai￿, Harxlwork printing equipmenL ouffk)or furniturA KInderV￿ rugs aThl science cquipmthL The &ssel value of the builth.ng is Calculatrd on the wr¢h&s¢ ¢osi pl￿$ the investment we hav¢ made into the buddLn& Min￿ d¢pr¢ciation. The &%set va]ue of the p￿￿Y at the ejyl of the a￿(￿li1ng wiod was £382,059 ((IowiL from £396,623 the previous year due io (kpr¢ciatioll} with liabilities of £129.831(down from £139299 the previous year} io the HeTmes Tntst for the Mor￿ge (iotsl at y¢ar C￿1 £79.831) and card￿ CoutKd (£50.OLK)) for delayed wtjllse payments. Totsl fixed assets were £391.449 (£408.870 the wevious year). Thc charity is in discussion with the local authority to agree S￿geA1 payinent datrs of the delayed £50.000 buildin¥ PL1rch￿ payinents, all of which can be mei fomi the Schwl's res¢rv¢s. Credit CoDirol The ￿coun￿￿ show dd)ts of £31.(￿1 of schLd fee5 and hall hite fees ai year ejxl (£28,978 th¢ p￿¥￿0￿$ year). £27,149 wab from ¢umt fomili¢s with balatt￿ outstanding at year cn¢l £13.184 of which ha5 been Vecove￿I in full since. with the bala[￿ on paymeni plaLs. £3,912 was hiswric debt from families who had lefi the Sch(x)I which have either been Tecov¢red Since or are on payment pla￿ either direci with the SchcKFI or with our app)in¢￿t ¢kbt coll¢ction providers. The ctwiiy a debr collection servic¢ io tackie hist{x￿1 debt and use their services on an Ongoll￿ basis to recover any new debt atising when famili48 leAve the SchtK)l. The ¢ontsnu¢s to act r4>txLsively to maintsin the finatKia] security of the School through working closely with parents io manage their fees payments in a timely manDer. The charity recovets fees arrears from eutteni families by monitoring and notificaiion of arrears during the year. and by r(thst year end xtion, i￿luding a 5eri&% of year end remityters to prompt the final Au8LKSt monthly fe&% payment by yeara¥l on 31 AugusL Bur5arylCh#Titable BeThefils Th¢ charity's Trustees have had reg*d ￿ the Charity Commission's guidance on public benefit and carried out significant acUViti￿ UDdertakn to furt]Kr its chan"table ￿￿oSe5 foT the pubhc benefiL As an educatioDal cbAll"ty all the Inc4)n￿ of the chaTiry b¢ appli¢d for c41￿￿01￿1 purtthe5. In this year we received exemption on (w tAlucational activitic5 {and on any illvesknellt itlcome and Bal￿$) provided these were applied for our charitable aims. A¥ a ch￿7￿. in this year unul April 2025, we were entitled to au 80/• reduction on our business raies on ts pri)perty we occupy for our chan"tsble pury)(￿. The fUwic￿1 ￿nefits we [￿e1v￿ from the8¢ lax exempiJoThs were all applied for educational plup￿ and indirectly help&J us ￿ maintain our bursary aThJ subsidised fees schernes for familie5 on lower income5. However. as an edwi10￿ charity. we were unable to reclaim VAT input x ¢)n our ¢o$ts until January 2025. We ai%> pay tax as an employer thrnigh the A￿lonal insu￿ contributions we In adth"lional w the Yery substantial benefits our S¢Fwl brings to pupils. tbe community and socfftety through the ¢d￿ation we offer, our buriary and sulm.ded fees prograjnme, wtreach and wblic events programm¢, provision of facilities for public use our position &s an important hub for inforn￿tiOn exchan8c attd best praciice. means charity ￿t£S a social &wt witlM)ut cost ￿ the Exchequer. The charity ain]s ￿ be as ￿1allY inclusive ￿ it can, treading a delicate line between fmancial securiry and aCC￿￿]bIlity. by offering a rdn8c of charitsble f￿￿Kial diseounts. Financial $upFK>rt is offered to families via a buw scheme subsidised fees for families on incornes under £45,(X)O. It also offer5 an income.basoJ sthff fees diswunt scheme to attract and retain Staff. The Bursary 5cime offer5 SUPFKSrt to families lower iJKomes and ptovide5 lat8et and &&th"uonal discounts ￿ th¢ 5Ut6idLwJ f¢¢s. CARDIFF STEINER EARLY YEARS CENTRE LTD OiKGISTERED NUMBER: 11799835T) Report of the Trust FOR THE YEAR ENDED 29TH AUGUST 2025 During the accounting penod £71.803 w&5 awarded in re￿ bursaries. subsidised feu to families on lower incomes, and means *￿ed disc￿lts to parenLs wlKTr are pajd sthff members (£68.534 in the previous year). This compnsed £ £24,633 in sub5idi5ed (£24,716 in the PIEVIO￿% year) £13.IA18 in bur5aTie5 (£8.545 in the yrvious yearl and £32,842 mtans-tcsted stsff discounts (£35272 in in the previo￿ ye4rl. This TeweSULts 9.1 Yti of Teleydnt fee5 income. A further £81280 was given in 5ibh.ng dtsc4xth¢s (£61.079 in the p[¢Vio￿ year) an increas¢ du¢ to a nurnttr of larger families jOill5n¥ the S¢h(K>l. The charity plans to fiuther suly￿ its bursary ￿hem¢ by ¢xpMndiDg its Tegular giving 5oh¢m¢. The Trwtees will continue to monitor the level of ftha￿￿1 $Upk￿ for families on lower inc(￿￿ as the School gTOW& to ensure it is both cornpliant with the Ctwities Act a￿1 is a]so s￿laInable in tcnns of the ovcnil fin￿￿la] p051tion of thc chan"ty. The charity provid￿ other public benefir during the year includThg a programme of visit mornings, OF¢n evenings, musical and dyamatic wfom)anw and Pamll and Tc¥ldler Grw stivttig 30 lttal and re￿On￿ families. The chan.ly supw)rted the local community by provithng the building for public use of its cornrnunity hire faciliti&s. The School conti[tu￿ ￿ xt a5 art imporfani hub for 5haTing exptrTr* aThJ be51 prn¢ti¢e with other UK schools. tea¢has and student *achers in*rtsted in Steirter Waldorf educatioll - with a of teacber visits and sttht placements in the Sch(N)I taking place in the year. This included visitiDg groups of l¢Kal FE childcare students and thtors, attd presentstion by the S¢h¢y)I's EaTly Ye￿5 C(M)Tdinats)r at a kyal FE college. The S¢h(KTrl's Upper Sch¢x)l Eth￿￿tIon CoordIna￿r continued to woth with the Steiner Educthion DeveJopmo)i Tft￿l (W￿ manage and develop the NZCSE). to deliver training andgwdance forother UK S*intr Sthx)￿ ￿ deliver c￿lf￿a* to theix UFper Schools. 10 CARDIFF STEINER EARLY YEARS CENTRE LTD (REcisfERKD NUMBER: 07998357) RepDrtof the Trustees FOR THE YEAR ENDED 2yfH AUGUST 2025 FUNDS HELD AS cusfoDtAN FOR OTHERS Deposits The charity MaInts￿ a wrate dqxjsit ac¢(4Lnt for holding feGs deTM)sits. These reserve a chl'ld's place in the Sch(M)I and cover any costs. in the event of the Contract between paruli and Cardiff Steiner Sclbx>l being broken Th¢ dep)sit is returthle when a child l&qv&s the Sch￿1 as long as a full tctm's n￿lee has been givetl in wriw. Deposils are internally audited al year end io ensure thai fvnds held in the xc¢xlltt co[r£5￿￿ to Én Iw acc(NJrtting system. At year end the charity held £39.079 of deFrf>sits fly farnili¢s. The Trustees may explore the optii)n of a cath iDve5tnJellt p)licy. foT th¢ d¢pm"t fund5. and any fvrure iwrease in cash PROFE&SIONAL ADVISEILSISERVICLS Professional advi5Cf51servitts io the ¢hariiy dunng the period were as follow5: Accountsnis- JohDS J(me¥ & Lo Limited Bankers. The Cooperative Bank plc Payroll Accountanis. D¢nnis atKI Turnbjll Ltd Pension Scheme- NEST w0￿P1aCt ￿Th8]Qn schone Debt Collection. R￿Jw0￿1 Colle¢tsons Lld TRUSTEES. RESPONSIBILITIES sfATEMENT The Tnts*&% (who are also the dir￿1￿5 of Cardiff Sieiner Early Years CeDtre for the puw of c¢)mpany law) are r¢S￿)nSIble for PTrpanng the Rep)rt of the Truste&% and the financial sthtrnts in accordan¢e with applicable law and United Kmgdom Aw(XLntin¥ {United King(knm Ge￿rdIlY Accepied Accounting Pr&ti¢e). Company law requ￿ the prepare fm9￿181 sw¢meDts for exh financial year which give a true and fair view of the sthte of affair5 of the chan"thble company and of th¢ irKorniDg resources ard application of resources, including the income and expendkture, of the chan"tsble company for thai In ptepatmg those finawial swtemen¢s. the stees are required to.. - select suitsbk xcounting wTrlicics and thcn 4Jply thcm coLsistcntly' - obsrrye the methods and principles the Charity SOR￿,. . make jud8ements' and esiiTnates thai are rea8onable and pntyJenL' . prepare the fmancial statements on the goin8 COTJcern basts unkss it is inarwriate ￿ presume the charitoble company will ¢¢)ntinu¢ in blLS1￿S5. The Tnstecs are rew5Lble for keeping proper xcoyntstig rx. Having Satisfi￿ myself that the ac¢c4mLS of the Company are not Tg4uir¢d ￿ b¢ audited under Part 16 of the 21M)6 Act and are ¢I￿lbIe for indqKDdent examin￿10￿. I re￿ in rewi of my examinaiion of yow charity's axounts as carried out UT¥Jer Section 145 of Chariti&% Act 2011 CthE 2011 ACV). kn caThY￿S (NJt my examination I have followed the DiTectioTrs given by the clw1tycommi￿1Qn under S￿tIon 145{5) (b) of 2011 ACL IndepeDdtntexarniner'5 Statement Sinc¢ your tharitls gr(w inwn¢ ¢xceeded £250,LKM) y(w eXam1r￿ [D￿l be a member of a listed Edy. l confllin that l am qualified ￿ undertake the examination bttwse l am a member of the InGu"tute of chartu￿ A¢￿untants in England and Wale& which is one of the listed iKpJia8. I have completed my examinatii)n. I confjrni that ￿ mattas have comc to rny attention in connection with the exaTnination giving rnc Gawc ¢0 bc11￿". ccounting records were not kqyt in rwt of th¢ Company &s requir¢d by Section 386 of the 2006 Act" or the accounts do not pKci)rd with th(W Twd4' or the acrounts th) noi Comply with the acc(Mmting ￿ViTeMents of Stttion 396 of the 2￿6 Ac¢ other than any requircment that the accounts 8ivc a true and fair view which 15 not a ￿￿tter c<)￿Ldered a5 part of an independent ¢xatninati<)n' or the a¢counts have not been prepared in accordw with the methods and PTI￿1p￿S of th¢ Stat¢m¢nt of Recotnmended PtaGti¢e fot a¢￿￿11￿8 and ryttsng by clwitie* (a￿￿Cable to ¢haTitiV6 prq)ating their accounts in acc4)rdance with the FinaDCia] Rqx)rting St8ndaTd 4plicable iti the UK and Republic of Ireland (FRS 102)). be drawn in this in order to ethle a prow of tlx xcounts to Ix TexF Johns Jon¢5 Date.. Pa8e 12 CARDIFF STEINER EARLY YEARS CENTRK LTD Stxtement of FiD•nrial Arlivities FOR THE YEAR ENDED 29TH AUGUST 20Z5 2025 Totsl 2024 Total funds Untestric*d fi￿d R&srric*d fi￿d No*s INCOME AND ENDOWMENTS FROM Donations aThl lega¢ies 418 7.857 8275 10.429 Charitable acti*ities Par¢nt and toddler S¢knl Fees Kindcr¥arten fe Wraparound care Hall hire 5.875 732,394 101.087 12.374 1.950 5.875 732,394 101.087 12.374 .950 4.894 778.291 99,318 17.849 2,0(X) Other futhisin8 activilic5 Other income 8.603 8.707 8.603 8,707 5.346 39 Tot81 871.408 7.857 879265 918.166 EXPENDITURE ON Charitable activities Pupil Expense EstsblishmcTJt cxpcnse Butwies awarded Sib]u￿ th¥counts A