Company Number: 08353635 Charity Number: 1150651 Small Steps SFP Annual Report and Financial Statements For the Year Ended 31 May 2025
Small Steps SFP Contents CONTENTS Reference and Administrative Details Trustees' Report Independent Auditors' Report Statement of Financial Activities Balance Sheet Statement of Cashflows Notes to the Financial Statements Page 1 2 10 13 14 15 16
Small Steps SFP Reference and Administrative Details For the year ended 31 May 2025 Board of Trustees Head of Small Steps Charity Name Company Number Charity Number Registered Office Auditor Bankers A Samuelson J Prevezer Chair Teeigned 23 preter 3025 2025, J Brotherstone MBE D Challinor H Edwards N Preston-Smith A Richardson D Marillat F Haines S Chapuran B Sarson T Theobalds E Chadd M Kelly C Lort-Phillips (appointed 13 Feb 2025) (appointed 13 Feb 2025) (resigned 22 May 2025) (resigned 17 Oct 2024) (resigned 17 Oct 2024) (resigned 17 Oct 2024) (resigned 17 Oct 2024) Anita Coppola MBE Small Steps SFP also operates under the name of 'Small Steps, chool for Parents,' generally shortened to Small Steps. In thi eport, 'Small Steps' or 'the charity' is used throughout t 08353635 1150651 17-19 Worple Way Richmond TW10 6DG Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3А 2AD CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling ME19 AJQ 1| Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 Trustees' Report The Trustees (who are also the Directors of the charitable company for the purposes of the Companies Act) present their combined Directors' report and Trustees' annual report, as required by company law, along with the financial statements of the charitable company for the year ended 31 May 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Companies Act 2006 and the "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102 second edition - effective from January 2019)". Key Points • Last year was a much better year than the one before, with fundraising targets being met for the first time in many years. This year then has been all about building on that momentum - formalising the impact, refining the vision and driving Small Steps forward - seeking to benefit more families and in so doing to fully utilise the building - but without losing sight of the core principles and values - and remaining positive! • The charity's first ever Impact Report was compiled and published early in the year, capturing lots of historical data and detailing the significant impact that Small Steps has made and continues to have on the community of young disabled children and their parents. • The new Strategy Document 2024-2028 was compiled with input from parents, staff, trustees and graduates before being widely shared. • The charity successfully appointed a Community and Events fundraiser, and awareness of Small Steps has grown in the Richmond locality. Prior to year- end, on 13 May, Small Steps was confirmed as being one of the two charities being supported by the new Madame Mayor in the coming year. • Numbers of children and groups remain stable - with additional practitioner recruitment being key to being able to offer any more sessions and an increase in families. During the year, three practitioners were appointed to work in groups, all part-time. There remain additional vacancies - both practitioner and identified infrastructure ones - to meet demand and sustain the charity. • Small Steps retains six months of running costs. • The charity continues to face the future with a positive and pragmatic approach, always looking 'onwards and upwards'. 2 | Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 Objectives and activities The charity has only one category of charitable activity as defined by its objective: the relief of need and advancement of education of children who have cerebral palsy or other motor and sensory impairment, and their families, through the provision of classes, activities and advice in a supportive environment. The charity operates from 17-19 Worple Way, Richmond, TW10 6DG (Worple Way). Traditionally, children are invited to a regular session throughout the academic year, accompanied by a parent or carer, thereby enabling parents/carers to acquire new skills. These can be repeated to assist each child at home, thus increasing the benefits of every session through repetition. All sessions operate for 2-3 hours on a group basis and include a maximum of 5 children for most groups. On 31 May 2024 there were 92 children on roll and 20 others who had registered their interest and were waiting. On 31 May 2025 there were 95 children on roll and 22 others who had registered interest. The number of groups delivered each week has increased to 21 (2024: 20). There is space capacity in the building to offer 30 groups a week (140 child-parent partnerships). In shaping Small Steps objectives and planning the charity's activities, the Trustees have paid due regard to the Charity Commission's guidance on public benefit. Achievements and performance The ongoing vision of Small Steps is always to maintain its core focus activity - that of delivering structured sessional groups for pre-school disabled children and their parents in a positive supportive environment with a can-do attitude. As reported last year, Small Steps continues to fly the flag for Conductive Education, with high demand from families. At the start of the year children were waiting too long to access sessions, but with the recruitment of additional practitioner staff there is increased capacity to deliver more groups, and the wait time has come down. Small Steps is now in the position to pro-actively approach all localities in the catchment area to remind referral partners to signpost families to the service. Small Steps is particularly keen to increase the cohort of those children attending who have a neurological diagnosis such as cerebral palsy. Numbers on roll with such a diagnosis have reduced below 40% in recent years, with the balance shifting towards those with genetic disorders/syndromes whose pathway through Small Steps can be quicker, which impacts on the turnover of families. Staffing/Training There were staff changes during the period - four new appointments, all part-time. At year-end, staff consisted of six full-time personnel (2024: six) and nine part-time (2024: five). Managing a larger (practitioner) team has implications - most notably 3 | Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 around timetabling, communications and maintaining quality/dynamics. The Conductive Education Lead (CEL) and Assistant Head of Small Steps (AHOS) remain in some sessions for continuity/consistency/induction. The session supporter successfully completed her Level Three Certificate in Conductive Education and Small Steps also facilitated a second-year conductor student on placement from the National Institute of Conductive Education (NICE) Birmingham during the spring term. Regular volunteers continue to provide support in payroll, the management accounts, and grounds maintenance. There have been various volunteers across the year in groups as well as a Duke of Edinburgh Gold Level participant at Small Steps one afternoon a week. During the period training has included a full day staff inset on mental health strategies, as well as paediatric first aid, and volunteer co-ordination and management. Some of the conductors attended the Professional Conductor Association (PCA) annual conference. Parent Support, and Community The Small Steps community is a unique and special one that embraces every child, every family, who has ever come through the doors. This year work started on capturing more of the vast knowledge of the alumni of Small Steps. Graduate and current parents have started a project to create a new parent resource hub, which will hold an enormous amount of useful information for parents. The Small Steps community also encapsulates friends and stakeholders. This year, one such contact - North Parade Publishing - gifted books from its 'Me and My Feelings' range to the Small Steps children, and the next print run - which sells internationally - will include the Small Steps logo and website on the back cover. Work has started too on developing an appropriate storyline that Small Steps children can particularly identify with. The charity also accepted plant donations from Petersham Nurseries and hosted a Christmas Fair, welcoming families, friends and local residents to enjoy a peek behind the orange blinds whilst completing their festive shopping! Once again this year, additional sessions were delivered through to the end of each term to benefit the families, and end of term report writing was then completed during the holiday periods. As usual the Children's Christmas Party was in December and there were Parent Workshops on Communication, Back Care and Finances. Current parents completed a survey, which then fed into the published Strategy. They identified some of the long-held values that underpin the charity: being caring; empowering; holistic; child-centred; warm; open; supportive; collaborative; transformational and positive. 4 Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 Visitors Visitors this year included Sarah Olney MP, several local councillors (most notably Nancy Baldwin and Chris Varley), and the Executive Director of Children's Services. The Strategic Lead and Partnership Officer for Voluntary Sector Partnerships Richmond also visited, as did the Madame Mayor elect. Small Steps went out too - for example delivering assemblies at St. Elizabeth's School and kew Nursery - and welcoming children from those schools in to visit. Premises The charity is in receipt of an annual donation (Maintenance Grant) restricted to the costs of running the building. Required scheduled - and unscheduled - tasks around the building have been conducted throughout the year. The current staff team continues to absorb the workload. Of note, the car-park entrance was widened, a small part of the car-park perimeter wall that was damaged by tree growth was repaired and issues with deployed fire-curtains were resolved. A new streamlined phone system was also installed. Since the building ownership was transferred to the charity, there has been no commensurate increase in non-practitioner staff to run/maintain the building - tasks are many, and Trustees remain mindful of this. Fundraising Small Steps has never had a secure funding stream and continues to be totally reliant on charitable grants, events, and voluntary donations. A consistent base-level income comes from people who know the charity and are 'giving back' - be that families, friends, their external networks and workplaces. Long gone are the days when Small Steps listed every single donor in its year-end report, there are way too many. To list a few as significant would be an injustice to all. Every donation is important to the charity. Small Steps is extremely grateful to every single person who supports the charity each year in whichever way they can. Most of the income comes from donations big and small (48%), and online giving (21%) predominantly from challenge events. This year too Small Steps was successful in its application to Reaching Communities - National Lottery - so the percentage income from grants increased to 23% (2024: 16%). Trustees recognise that applying for grants is extremely important and are keen to see this income stream develop further if the charity is to achieve its strategic objectives. Work commenced this year on cleaning up the in-house database, to better collate supporter data and enable a more targeted fundraising approach. This project will likely result in the introduction of a Customer Relationship Management (CRM) system in the coming year. 5 Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 As reported above, Small Steps successfully recruited to the role of Community and Events Fundraiser - a Small Steps graduate mum - who is working hard to get the Small Steps name out there. More local companies are approaching Small Steps to find out how they can help. Financial Review As noted already, the charity has successfully increased the funds raised this year, though with increasing costs the resulting net unrestricted income before fund transfers of E31,514 is lower than the prior year (2024: £40,415). charity's reserve policy of covering 6-months of running costs. Total restricted and unrestricted funds at year end are £3,707,335 (2024: £3,723,565) but the majority of these are restricted (the property) and so are not available to meet ongoing funding requirements. The overall net expenditure for the year of £16,230 (2024: E1,158) is due to the depreciation of restricted property assets of E52,635 (2024: E52,635) which does not impact the unrestricted funds. Trustees remain conscious of the charity's reliance entirely on voluntary donations and continue to manage expenditure carefully. But they are keen to see the strategy achieved, the potential of the donated property fully realised, and more families to benefit. The amount of funds needing to be raised thus ever increases. In other words, as last year, if the charity is to succeed in its aim of recruiting additional staff to fully maximise the space of the building to benefit more children and families, it needs to keep raising more money. Risk Management Risk is an everyday part of charitable activity and managing it effectively is essential if the Trustees are to achieve their key objectives and safeguard the charity's funds and assets. The Trustees at Small Steps have always been proactive in their response to all risks and have established policies and procedures that are designed to provide reasonable, but not absolute, assurance against them. As good governance dictates, they take advice - including legal - and are constantly reviewing all areas of risk management including Health and Safety and Safeguarding. This year, with newly appointed Trustees joining the Board, it was decided to establish a risk register across all aspects of the organisation. This was completed just after year-end. It details two critical risks - around fundraising and financial stability - with actions already taken to manage and mitigate them. All risks will be reviewed regularly. The Board recognises that the charity is in a definite period of change so in the coming year will increase the number of meetings to twice each 6 | Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 academic term. Sub-Committees will continue to meet two weeks before each Board Meeting. Future Developments Small Steps has been on a remarkable journey. Nearly three decades ago the charity started in a small classroom supporting three physically disabled children. Now each week we welcome just under 100 children and their families into the beautifully fit for purpose building. This year Small Steps published its strategy for the next four years - keen to fully maximise the space of the building and to benefit more children and families. More families will introduce new networks to Small Steps - an opportunity to increase / diversify funding streams. So, in the coming year, Small Steps will seek to do the following: • Recruit more practitioner staff (2 FTE) to deliver more groups (up to 24 a week in the coming year, then 30 a week by 2028). • Recruit additional office staff - particularly an Office Assistant and a Business Assistant to support the increased administrative tasks across the organisation. • Implement a CRM and upgrade financial systems and processes, to better manage and use valuable data across the organisation. • Appoint a new Chair of Trustees. • Assign a Company Secretary. • Review all employment contracts. • Complete the project started to get appropriate branding on Sheen Road. And, as always, Small Steps will retain links with the Conductive Education Consortium UK (CEUK) - to consolidate the national voice for Conductive Education. It will retain a free service for all the families. And it will sustain sufficient funds to ensure running costs are covered for at least one more year. Structure, Governance and Management The charity is a company limited by guarantee from the members and therefore does not have share capital. The liability of the members is limited to f1. The Trustees, who are also the Directors for the purpose of company law, and who served during the year and up to the date of signing the accounts were: 7 | Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 A Samuelson J Prevezer Chair Treasurer (appointed 13 Feb 2025, resigned 23 September 2025) J Brotherstone MBE D Challinor H Edwards N Preston-Smith A Richardson D Marillat F Haines S Chapuran B Sarson T Theobalds E Chadd M Kelly C Lort-Phillips (appointed 13 Feb 2025) (appointed 13 Feb 2025) (resigned 22 May 2025) (resigned 17 Oct 2024) (resigned 17 Oct 2024) (resigned 17 Oct 2024) (resigned 17 Oct 2024) The Trustees have the power to appoint new Trustees, who are then ratified by ordinary resolution at a General Meeting. The Charity Governance Code recommends that if a Trustee serve more than a 9- year term, then this should be subject to rigorous review and should be explained in the Trustee Annual Report'. The Board recognises that J Brotherstone and A Samuelson have been Trustees for more than 9 years - their long view of the history of the organisation being recognised as a valuable asset. The plan to appoint a new Chair has been actioned - role description and advertised - with a likely successor to A Samuelson being appointed at the AGM. In addition to their responsibilities as Trustees, all the Board are Directors and Members of the Company. The Board delegates the day-to-day management of Small Steps to Anita Coppola MBE, Head of Small Steps - who is also a member. The Board of Trustees governs Small Steps. Four (2024: seven) of the Board are parents of Small Steps children. In addition to the Trustees and staff, Small Steps is truly fortunate to benefit from the hard work of many volunteers who support the charity and its activities. Too numerous to mention, Small Steps would not be the place that it is without them. Related Parties small steps is an independent charity. No remuneration was paid to, or expenses reimbursed to any of the Trustees or people connected to them. No transactions were made with Trustees or connected persons other than voluntary unconditional donations to the charity. 8| Page
Small Steps SFP Trustees' Report For the year ended 31 May 2025 External scrutiny Due to the value of the total assets the charity is not eligible for audit exemption. Last year TC Group Citroen Wells was appointed as auditor to the charity during the period under review. This year, after a tendering process, Knox Cropper LLP was appointed. The Board of Trustees approved the Trustees' report. A Samuelson Trustee tudes Samuels Dated. 0b/11|25. 9 | Page
Small Steps SFP Independent Auditor's Report To the Trustees of Small Steps SFP Opinion We have audited the financial statements of Small Steps SFP (the 'charitable company') for the year ended 31 May 2025 which comprise the Statement of Financial Activities (including the Income and Expenditure Account), the Balance Sheet, statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. In our opinion the financial statements: • give a true and fair view of the state of the charitable company's affairs as at 31 May 2025 and of its income and expenditure, for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and • have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Trustees' Report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such 10| Page
Small Steps SFP Independent Auditor's Report To the Trustees of Small Steps SFP material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: • the information given in the Trustees' Report, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the directors' report, included within the Trustees' Report, has been prepared in accordance with applicable legal requirements. Matters on which we are Required to Report by Exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: • Proper and adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or • The financial statements are not in agreement with the accounting records and returns; or • Certain disclosures of Trustees' remuneration specified by law are not made; or • We have not received all the information and explanations we require for our audit; or • The trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the trustees' report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 11 | Page
Small Steps SFP Independent Auditor's Report To the Trustees of Small Steps SFP an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: • The charitable company is required to comply with charity law and, based on our knowledge of their activities, we identified that the legal requirement to accurately account for restricted funds was of key significance. • We gained an understanding of how the charitable company complied with their legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. • The audit team, which is experienced in the audit of charities, considered the charitable company susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. • Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. A further description of our responsibilities for the audit of the financial statements is located Financial Reporting Council's ("FRC's") website https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Koy copper Lit Simon Goodridge (Senior Statutory Auditor) For and on behalf of Knox Cropper LLP (Statutory Auditor) 65 Leadenhall Street London ЕСЗА 2AD Date: 6/11/25 12 | Page
• Small Steps SFP Statement of Financial Activities (Including the Income and Expenditure Account) For the year ended 31 May 2025 Unrestricted Note Funds Restricted Funds Total Funds Year Ended 2025 Total Funds Year Ended 2024 € INCOME AND EXPENDITURE Income from: Grants and donations Other trading activities Investments Total Income 2 3 4 Expenditure upon: Raising Funds Charitable Activities 5 6 Total Expenditure Net Income/(Expenditure) Transfers between funds 15 Net Movement in funds for the year let funds at 31 may 202 448,561 2,395 7,517 458,473 61,559 365,400 426,959 31,514 2,310 33,824 277,856 311,680 11560 141,566 189,310 189,310 (47,744) (2,310) (50,054) 3,445,709 3,395,655 590,127 2.395 600,039 61,559 554,710 616,269 (16,230) (16,230) 3,723,565 3,707,335 The notes on pages 16 to 24 form part of these financial statements. All activities derived from continuing operations in each of the above two financial periods. 469,346 84,685 7,040 561,071 85,641 476,588 562,229 (1,158) (1,158) 3,724,723 3,723,565 13 | Page
Small Steps SFP Statement of Financial Position For the year ended 31 May 2025 2025 Fixed Assets Property, plant and equipment Current Assets Debtors Cash at bank and in hand Creditors: Amounts falling due within one year Net Current Assets Total Assets Less Liabilities Funds Restricted Unrestricted Notes 12 13 14 3,247,902 41,686 435,294 476,980 (17,547) 459,433 3,707,335 15 3,395,665 311,680 3,707,335 The notes on pages 16 to 24 form part of these financial statements. The financial statements were approved by the Board and authorised for issue on Novelber 2025 and signed on its behalf by: Audee Saumelsa Name: ANAREA CAMLIESON. Trustee Company Registration Number: 08353635 Registered Charity Number: 1150651 14 | Page 2024 3,300,537 50,943 391,771 442,714 (19,686) 423,028 3,723,565 3,445,709 277,856 3,723,565
Small Steps SFP Statement of Cashflows For the year ended 31 May 2025 Notes 17 Net cash provided by operating activities Investing activities Investment income received Net cash provided by investing activities Net change in cash and cash equivalents in the period Reconciliation of net cash flow to movement in net cash Movement in net cash in the period Net cash and cash equivalents brought forward Net cash and cash equivalents carried forward 2025 36,006 7,517 7,517 43,523 2024 18,197 7,040 7,040 25,237 43,523 391,771 435,294 25,237 366,534 391,771 The charity has not provided an analysis of changes in net debt as it does not have any long-term financing arrangements. 15 | Page
Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 1 Accounting Policies Charity information Small Steps SFP is a private company limited by guarantee incorporated in England and Wales. The registered office is at 17-19 Worple Way, Richmond, TW10 6DG. Basis of Accounting The financial statements have been prepared under the historical cost convention and in accordance with the accounting policies set out below. The financial statements comply with the charity's governing document, the Charities Act 2011, the accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102 second edition - effective from January 2019). The Charity is a Public Benefit Entity as defined by FRS102. The financial statements are prepared in Sterling, which is the functional currency of the Charity. Going Concern The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern. Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Income from investments and interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. Donated facilities and services Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. In accordance with the Charities SORP FRS 102, time and services provided by general volunteers are not recognised; refer to the Trustees' Report for more information about their contribution. Expenditure and irrecoverable VAT All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Wherever possible costs are directly attributed to these headings. Costs common to more than one area are apportioned on the basis of staff time. Governance costs are those incurred in the governance of the charity and are primarily associated with the constitutional and statutory requirements. These are included within the support costs of the charity. 16 | Page
Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 Irrecoverable VAT is charged as a cost against the activity for which expenditure was incurred. Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activity. Support costs include office administration costs and governance costs which support the charity's activity. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Support costs have been allocated to cost categories based on the estimated usage of supporting resources and an estimate of staff time spent on each category. Fund Accounting Unrestricted funds are available to use to further any purposes of the charitable undertaking. Restricted funds are donated for particular areas of the charity work or to cover particular expenses. Tangible Fixed Assets Purchased tangible fixed assets are initially recorded at cost and donated tangible assets are recorded at fair value. All tangible fixed assets apart from freehold land are depreciated over their estimated economic life. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land Not depreciated Freehold buildings 50 years straight line Fixtures and fittings 20 years straight line Cash and cash equivalents Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Taxation As a charity, the company is exempt from tax on income and gains falling within tax legislation to the extent that these are applied to its charitable objects. No tax charges have arisen on the company in the year. Retirement benefits Pension costs include payments made directly to individual defined contribution schemes held by members of staff. Accounting estimates and key judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are depreciation and theatre tax relief. 17 | Page
Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 2 INCOME FROM GRANTS AND DONATIONS Unrestricted Funds Donations and gifts Grants Donated facilities and services Total Income from Grants and Donations 438,561 10,000 448,561 Income from Grants and Donations 381,848 Restricted Funds 141,566 141,566 87,498 Total 2025 438,561 141,566 10,000 590,127 469,346 Total 2024 367,974 96,072 5,300 469,346 2024 Donated facilities and services Donated services in the current and prior years include legal services. The charity is grateful to Sidley Austin LLP for their generous provision of pro bono legal services. The charity benefits greatly from the involvement and enthusiastic support of its many volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts. 3 INCOME FROM OTHER TRADING ACTIVITIES Fundraising events 4 INCOME FROM INVESTMENTS Investment income 5 RAISING FUNDS: Fundraising and publicity Costs of generating donations and grants Costs of organising fundraising events Staff costs Unrestricted 2025 2,395 Unrestricted 2025 7,517 2025 10,673 312 50,574 61,559 Unrestricted 2024 84,685 Unrestricted 2024 7,040 2024 15,190 23,111 47,340 85,641 18 | Page
• Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 6 CHARITABLE ACTIVITIES Staff costs Depreciation and impairment Premises costs Other direct charitable expenditure Support costs (Note 8) Governance costs (Note 8) Analysis by fund Unrestricted funds Restricted funds 2025 342,257 56,185 52,635 8,380 459,457 78,045 17,208 554,710 365,400 189,310 554,710 2024 301,365 52,635 49,373 5,975 409,348 48,563 18,677 476,588 347,517 129,071 476,588 7 TRUSTEES None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 8 SUPPORT AND GOVERNANCE COSTS Governance costs State and other administration costs Legal and professional fees Audit fees Total support and governance costs 2025 Total support and governance costs 2024 Support costs 34,046 33,999 10,000 78,045 48,563 1,857 9,540 17,208 18,677 Total 2025 39,863 35,850 10,000 9,540 95,253 67,240 All support and governance costs have been allocated to the charity's sole charitable activity. Total 2024 37,653 16,487 3,800 9,300 67,240 19 | Page
Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 9 NET MOVEMENT IN FUNDS This is stated after charging: Depreciation of fixed assets Trustees' remuneration Trustees' reimbursed expenses Auditors' remuneration Statutory audit Other services 10 STAFF COSTS AND NUMBERS Staff costs were as follows: 2025 52,635 : 9,540 2024 52,635 : 9,300 Salaries and Wages Social Security Costs Pension Costs 2025 385,153 30,887 16,654 432,694 2024 343,279 28,241 14,838 386,358 One employee received remuneration in excess of £60,000 in the year (2024: 1) as follows: 2025 2024 £70,000 - £79,999 1 1 The key management personnel of the charitable company, other than the Trustees, is the Head of Small Steps. The total employee benefits of the key management personnel were 678,433 2024: €76,291) Average monthly number of employees during the year was: Full Time Part Time Total 2025 6 6 12 2024 6 6 12 The average monthly full time equivalent employees during the year were 9(2024: 9) 11 TAXATION The Charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 20 | Page
• Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 12 TANGIBLE FIXED ASSETS Cost At 1 June 2024 At 31 May 2025 Depreciation At 1 June 2024 Charge for the year At 31 May 2025 Net Book Value At 31 May 2025 At 31 May 2024 = Freehold land & buildings 3,067,858 3,067,858 116,804 31,357 148,161 2,919,697 2,951,054 13 DEBTORS Other receivables Prepayments and accrued income 14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other taxation and social security Accruals 21 | Page Fixtures and fittings 425,565 425,565 76,082 21,278 97,360 328,205 349,483 Total € 3,493,423 3,493,423 192,886 52,635 245,521 3,247,902 3,300,537 2025 24,166 17,520 41,686 2024 35,784 15,159 50,943 2025 8,615 10,932 17,547 2024 5,789 13,897 19,686
Small Steps SFP Notes to the Financial Statements For the year ended 31 May 2025 15 STATEMENT OF FUNDS Balance at 2024 RESTRICTED FUNDS Staff costs Provision of classes Resources and equipment Premises costs Donated asset TOTAL RESTRICTED FUNDS UNRESTRICTED FUNDS GENERAL FUNDS TOTAL FUNDS 3,125 13.000 3,300,537 3,445,709 277,856 3,723,565 Income 16,000 63,102 60,390 141,566 458,473 600,039 Expenditure Transfers Investment Gain/Loss (16,314) (61,174) (3,002) (56, 185) (52,635) (189,310) (426,959) (616,269) (2,310) (2,310) 2,310 Balance at 2025 2,811 6,000 138,942 3,247,902 3,395,655 311,680 3,707,335 Purposes of restricted funds Staff costs Provision of classes Resources and equipment Premises costs Donated assets Transfer These funds comprise grants and donations towards specific staff costs for specific periods of time. These funds comprise grants and donations towards the running costs of teaching/ therapy sessions undertaken by the charity and are for specific periods of time. These funds comprise grants and donations towards the cost of specific items of equipment or resources (such as training sessions and provision of external services) to the charitable activities. These funds comprise grants and donations towards the maintenance and renovation of the premises in which the charity undertakes its main activities. These funds comprise the value of the property donated to the Amounts are transferred between restricted and unrestricted funds when the donor has agreed that restrictions cease to apply and the funds may be utilised for general running costs 22 | Page