Company No. 08586329 Charity No. 1153976 Azbuka Foundation Report and Accounts For the year ended 31 August 2025 Studland Hall Studland Street Hammersmith London W6 OJS
Azbuka Foundation Directors. Roport For th• ar ènded 31 Au u$t 2025 The directors presènt their report and accounts of the chaaty for the year ended 31 August 2025. This report also repre5&nt8 the trustees, port rUlTed under the Charities Act 2011. The directors have had due r8g8rd to guidance published by th8 Charity Commission. LEGAL AND ADMINISTRATIVE INFORMATION Chai Since the year end the financial posillon of th8 cIAzbuka Foundation Charity registration number.. 1153976 Company registration number 08586329 Registe otfice and operations address studland Hall, Studland Street. Hammersmith, London W6 OJS Dlre¢tors (Trustees) The directors who were in office during the year and vp lo the date of this report 8re.' Maria Gavrih)va Andrew JarJ( Cham)ian Kenner Svetlana Malinina Jason Mannlng Vasiliki Lytra STRUCTURE. GOVERNANCE AND MANAGEMENT Govtmlng document The organisation is a charitable company limited by guar8ntee, incgrporateil on 26 June 2013. The company was established under a Memtsrandum of Asso¢ialion. The Artides of Association explain the objects and ptswers of the ¢hantable Gompany and how it should be gtsvem8d. In th8 8vent of the company being w)und up members are required to Contribute an arnount not exce8ding £1. Directors The d1ClOr$ ol the eornpany ar8 also charity trustees ftsT the purpose5 of Charity law. New trustees are appointed by the rnèmbers of th8 charity. Trustee rneetings a held 4 to S tr'm85 a year. OBJECTS OF THE CHARITY The objects of the ¢harity a". The advancement ol education lor Ihe public benefit in partieular ty.. the prO$10n and conduct of 8 school or s¢hools In England and Wa18S Wth bilingual Russian-English ¢UrriCLslum,' the promotion of bilingual education., the provision of education materials Of serwce5, including promotion ol Russian language, lit8r8lure 8nd Cultu.. and such other means as the Tru5te8S 5h811 determine
Azbuka Foundation Directors. Roport For the ar •nded 31 Au ust 2025 ACTIVITIES and ACHIEVEMENTS FOR 2024-25 In planning the activities for the year. the trustees have had due regard to Charity Commission guidance on publlc benefit. The attivities carried out in the year include the loltowing.. • Moving lo a new school management system Preparats'on for the ISI full inspection Rgvising and dav81oping further our PSHE curriculum and well being and safeguarding strategies School.. recruiting a new teacher for Year 2-3 • Developing further the bilingual curriculum and revising bilingual edu¢atson planning systern • New training monitoring system for safeguarding and health and safety for staff Assessing risks and p18nThing for alleinative business models in preparation for the VAT on Independenl schools Premises redeveloprn8nt for SEND inclusion. Se¢ured funds for naw SEND initsatives Taking active part in BEA tsutreach work Cooperation with other schools. BEA èvents and cooperation • Implementing new marketing strategies wth the new marketing contrac¢or, inc developing sgrial networks and different partnership prtsjècts • Cooperation parents antj othèr agencies on new joint fundraising initiatives FINANCiAL REVIEW AND RESERVES POLICY Since the year end the imposition of VAT on school fees as w811 as new financial 8nd regulatory obligations for independent schods, •¢Jucational prowders. busin8sses and charities has had a Serious detrirnental effect on thè charitys and school's ability to continue operating. In addition to a big drop in current and future attendanc8 and in Ihe cuff8nt financial. political 8nd 8du¢ational climate it is difficult to continue to operate on a stab18 basis. Regrettably decision has been made to close the school from S8plember 2026. The 8¢counts have been prepared on a going con¢ern basis. This report h#$ been prepared In accordance the provisions in Part IS of the Comp8ni8s Ac¢ 2006 applicable to companies subject tts th8 5m811 companies regirn8. 11. os. 102 Approvedbythe Board on.......................................... andsignedonits behalfby.. 6yv Maria GalI0¥a Director
Independent Examiner's report to the trustees of Azbuka Foundation I report on the accounts of the company for the year ended 31 August 2025 set out on pages 4 to 9. Re$ctIve ro$ponsibllltl¢s of trusts•$ and examin•r The trustees (who are also the directors of the company for the purpos&s of company lawl are responsible for the preparation of the a¢unIs. The Iruslees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Act} and that an independent examination is needed. Hawng satisfied myself that the Charity is not subject to audit under company law and is eligibb for independont exaFninaliDn, it is my responsibility to.. examine the accounts under section 145 of the 2011 Act., to follow the procedures laid down in the general Directions given by the Charity Commission under section 14515llbl of the 2011 Act., and Since the year end the financial position of the charity has deteriorated lo such an extent that the charty is not ab to Continue lo operate as a going concern and the trustees have regrettably decided the only option available was th8 closure of the School. These accounts have baen repared on a qoino concem basis. Basis of Independènt examin8Vs report My examination was Carried out in accordance with the general Dilections given by Ihe Charity Commission. An examination in¢ludes a review of the accounbng recor<Js kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 8nd seeking explanations from you as Iruslees ¢on¢erning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequenuy no opinion is given as lo whether the accounts present a 'lrue and fair view, and the rewrt is limited lo those mattels sel out in the statement below. IndopendèTrt examIneS statsm•nt In connection with my exarninalion. no matter has corne lo my attention= which gives me reasonablg cause lo believe that in any material respect the requiroments-. lo keep accounting records in accordance with section 386 of the Companies Act 2006,. and to prepare accounts which accord %wth the accounting records, comply wth the a¢¢ounling requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Re¢ommended Practice.. Accounting and Reporting by Charities have not been mel. Material Post Balance Sh••t Evont Since the year end the trustees have detgrmined that the financial position of the charity has deteriorated lo such an extent Ilogelher with other adverse factors) that the charity is not able lo continue lo operate as a going concem and they have decided the only option available was the closure of the s¢hool in September 2026. The accounts have been prepared on a going concem basis which is appropriate having regard lo the circumstances of the charty. HARRY NICOLAOU FCA Of Hary Ni¢oJaou &Co Limited Chartered Accountants 21 Brendon Way Enfield EN1 2LF 11 May 2026
Azbuka Foundation Statement of Flnancial Activities (In¢luding Income and Expendlture Account) For tho Year Ended 31 Au ust 2025 Totsi fund8 Tolal fvnds Unrestrkled 2024 Not• 2025 INCOME from: Donatton$ 7,861 7,861 63,063 63.063 ¢harltable activltle$'. School fees Nursery fees Swimrning lessons Gr8nl IL8 H&FI Contributions from parents for a¢tivits'8s and school meats Other Jncome- Hall and space hire, bank inter8Stetc 472,039 251,622 600 54.692 20,754 23,308 823.015 358.55T 238.241 60,652 74,305 26,539 698.294 Total Income 830,876 761,357 EXPENDITURE on: Bursaries and SCholah1ps Funded activity.. Earfy Educali¢)n Staff cost5 Printing Rent and rates Electricity School resources and expenses Repairs and rnainlenance Telephone and intemèt IT expenses Insurance Bank charges Equipmènt hire Cleaning afid other expen58S Bookkeeping Travelling and subsistence exp8ns8s cbthing Costs Website exp8nsas Marketing costs Legal and consuttancy fees DepcIatiOn Govem8nf* COSt'. indeperldent examination 20.500 62,908 485,441 1,495 105,835 12,667 53.307 469.028 1.490 103, 188 14.234 4.808 1,652 5.019 1,483 356 339 13.226 6,201 775 1,002 12,654 2,793 1,238 77.794 1,772 145 295 9,172 2,6T5 879 7.647 140 7.533 10,466 1,933 2,800 305 7,932 9.637 1.927 2,700 Total oxpendlturo 748,146 703, 187 Net Ineome and n•t movemènt in funds. 82,730 58,17Q RECONCILIA TION OFFUNDS Total fund5 brought fornvard 149,$621 (107.732) Total fvnds carrl¢d forward Net 8xp8ndilure is also net expenditure for Companies Act PUlPOS8S. 33.168 f49,562)
Company No. 08586329
Azbuka Foundation
Balance Sheet
Balance Sheet |
Company | No. 0858632 | ||
|---|---|---|---|---|
| As at 31 August 2025 | ||||
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 6 | 5,799 | 5,782 | |
| Current assets | ||||
| Debtors | 7 | 76,943 | 37,598 | |
| Cash at bank and in hand | 214,480 | 121,413 | ||
| Total current assets | 291,423 | 159,011 | ||
| Creditors falling due within one year | 8 | (264,054) | (112,600) | |
| 27,369 | 46,411 | |||
| Total assets less current liabilities | 33,168 | 52,193 | ||
| Creditors falling due after more than one year | 9 | (101,755) | ||
| Net assets/(liabilities) | 33,168 | (49,562) | ||
| Funds | ||||
| Unrestricted general funds | 33,168 | (49,562) | ||
| Total funds | 33,168 | (49,562) | ||
| I_I ._0_5._1-.02...6 Approved by the directors on .................................................. . |
And signed on their behalf by: Director ·· ·/J� .,J!L�·i"
5
Azbuka Foundation ststement of Cash Flows Asat31Au u$t 2025 2025 2024 Cash flow from operating a¢tlvFtIès Net in¢omel{deficill for the year 82,730 58,170 Depreci81ic Since the year end the financial position of the charity has delerioralt Decreaselllncreasel in debtors Increaselldecreasel in cre¢Jilors 1,933 139,345} 49,699 1,927 f2,553J 8.475 Net Cash flow from op•ratlng actlvltles 95,017 66,019 Cash flow from Inv¢$ting actlvltles Payments to acquire tangible fixed assets {1,9501 11.9501 Net In¢reasel{d•creasel in ¢a$h and cash equivalents 93,067 66.019 Cash and cash equivalents 8t 1 Septembei 2024 Cash and Cash equlvalents at 31 August 2025 121,413 214,480 55,394 121,413 31
Azbuka Foundation Notos to tho Accounts For the Year Ended 31 Au u¥t 2025 Accounting policies Ba$l$ of accountlng The financi81 statements have been preparèd in accordance (h Accounting and Reporting by Ch8rilies.' Stslement of Re¢omFn8nded Practice applicable lo charitie5 preparing their financial statements in accordance the Financi81 Reporting Standard applicable in the VK and Republic of Ireland IFRS 1021 (effective 1 January 20151 (Charities SORP IFRS 10211. the Financial Reporting Standard appllcable in the UK and Republic of Iland IFRS 1021 and the Companies Act 2006. Since th8 year end the financial position of the ¢harity h85 deteriorated to 8u¢h an extent that the charity is not ab18 to continue lo operate as a going concern and the trustees have regttablY decided the only option availab18 was the cbsure of thè school. These accounts have been prepad on a going coneèm basis. The Charity constitutes a public benefit entity as definod by FRS 102. In¢om• recognltlon All incom8 is recognis8d once th8 charity has entiuernent to the income, there is suifici8nt ¢ertainty of receipt and so it is probable that the income will be received, and th8 arnount tsf income CeiVable can be rneasufed reliably. EXndItUre r•¢ognllion Expenditure is recognised once there is a legal or wnstructive obligation io make a payment tg a third paty. il is probable that a s8tUernent wll be r8quired an¢J the am¢)vnt ol th8 obligation can be measured reliably. Fund aecountln9 Restrict8d funds are incoming resources, which are to be used for specific purpK)ses a$ laid down by the donor. Expenditure which meets Ihe$e criteria is charged to the fund. Unrestricted funds are grants. donats'ons antl other incoming resources r8ceivable for the objects ol the charity without further specified purpos8 and are av8ilab¢e as gen8ral funds. Tanglble fix assets Depreciation is provided at rate$ calculated to writ& off the ¢osl of aach asset less its estlmated resldual value, over the useful economlc life gf that asset as folltrws.. Office furniture and equipment 25% reducing balance Debtors Trade and other debtors a COgnised at th8 settlemènt amount due after aTry trade discounts offered. Prepaym8nts are valued at th8 amount prepaid after taking account of any tra¢Je discounts du8. Cr•dltors C¥editors and prow$ions are recognised Whe the charity has a pr858nt obligation sUIting from a past event that ill probably result in the transfer of funds to a third party and the amount due to setUe the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their s81tlement amount after all0bn9 for any trade dis¢ounts due. Financlal instruments The charity ofily has financi81 assets and financial liabilities tsf 8 kind that qualify as basic financi81 instruTnents. Basic financial instruments are initially recognised at transadion value and subsequently measured al their settlement value with the exr*ptson of bank bans which are subsequentsy rneasured at amortised cost using the effective interest method. Commltments Rentals payable under op&r8ting leases are charged to the Statem8nt of Financial Activities as Incurred over the term of Ihelgase. Penslons The cosis of the workplace defined contribution arrangements a eh8rged to the SOFA as incurred.
Azbuka Foundation Notes to the Accounts For th• Y4r Ended 31 Au ust 2025 Staff costs 2Q25 2034 Salaries and wages Soci818ecurity costs Since the year end the finan¢lal p05ilion of the charity has deteriorated to Swh an i Payrdl F0GeSSing tos15 Pension processing costs Recruitment costs Other staffing ¢05ts Tralning costs 377,175 29,848 8.280 366. 176 28.832 7.494 1,832 9,174 59.627 448 2,9T5 60.475 1.244 Total staff co$ls 485,441 469,028 N•¢ In¢ome forth• y•ar 2ts25 2024 This is stated after charging.. Ind&pBndenl Examinerfs fee D8pre¢iation 2.800 1,933 2.700 1,927 Tru$ie05 No remuneration was pokl to the trustees during the year in their capactty as trustee5. Expenses of £4, were reirnbursed to Iwo trustees12024 £6961 during ar. Taxatlon The charita8 company is exwnpt frern corporatron lax on rts ¢lwrilabl8 aCtIlIeS. Tangiblo fixed •ss•t8 Fumliur• & olficv F4xtUm ffttlryi Tutsl Cost At 1 September 2024 Additions 7.146 10.934 1,950 18.080 1.950 At 31 Augvtst 2025 7,146 12,884 20.030 D•pr•elation At I September 2024 Charge for th8 year 4,384 690 7,914 1,243 12,298 1.933 At 31 August 2025 5.074 9,157 14,231 Net book v•lue At 31 August 2025 2.072 3.727 5,799 At 37 Augusl 2024 2. 762 3.020 5,782 Dobtorn 2Q25 202 Trade debtors Other deblws 10,474 66.489 5.644 31,954 76,943 37.598 Other debtors of £23,187 fall due after rnor? than one year
Azbuka Foundation Note$ to the A¢¢ounts For tho Yèar Endod 31 Au ust 2025 Cr•dltors falllng duv wlthln on¢ y•ar 1025 202 Trade ¢reditors Taxation and social security Other creditors and aGcruals Loan (see te 101 12.411 34,055 115,833 101.755 264.054 5,964 13.331 93,285 112.600 Credttors hlllng due after more th•n on• yoar 2025 2024 Loan1886 note 101 101.755 10. R•lat•d party transadio The ban referTed to in Note 8 01 £101,755 1$ due to Maria Gavrilova, a tW5tee and founderof th8 charity. Durlry the year Maria Gavrilova recewed remmeration 88 Princtpal of the 8chool al w811 below mark81 rates. During the y88r Svellana Malinina. a trust8e of th8 charity ha$ provided danGe lessens to putyL% of th8 thaAty at rates well below market rates. 11. Operating lease ¢ommitmont8 The total ot lutssre minirnum lease payment$ uTrJer a non4cancelblÉ operatirrfJ at 31 August 2025 is as follows.. 2025 24 Not laterthan onè year Later than ffie year and not Fater than five year5 Later than five years 100.884 403.536 302,652 100,884 403.536 403,536 807.072 907.956