Ch•rfty fEglstrallon Nmbor 280428 Company registrntion number 14975SB (England and Wal•s) THE SWEDISH FOLK HIGH SCHOOL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE SWEDISH FOLK HIGH SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Trtee9 P Sanders E Ingvarsson C Obson IA4)point8J 28 February 20231 Secretary A Thatthr Chaiity numb•r 2e0428 Company nurnb 1497558 Register8d offic• Lc*s Hill East Sussex BN412LA Audltor t & 88ry kn'mrt•J Mocatta Hous8 TrafakJar P4 Bnghton BN14DU Bank•Ys Natrest Bank PLC 1th5tem Avenuè Chalham marM0 Chaiham IAE4 4RT
THE SWEDISH FOLK HIGH SCHOOL CONTENTS Trustees re StatwnÈnl of trustees respowbl"eS In(lependent audrtoffs r8F StatnnI of ffinanoal *thibes Slatem•rtt of finan(aal PK)Sitb)n 10 Statement of cath Ilryws 11 Notss lo the financial statèments 12-21
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees prnt their report far9a1 statements for the year eth 31 December 2023. Please referto Legal and AdmiThstrative Infomiation page tharity statutory infom)alk)n. The financial stalenths have been prepared in accordan with the afX))unting poliryes set out in note 1 to the financial statement5 and Compty with the charitys Memorandum and Artides of Asswation. the Companies Act 20 and "Aeeounting and Repon9 by Charities: Stslemant of Recommen(led Practicè apF4Kable to (arilies preparing their accounts in accordance wrth thè Finanual Reporting Standard 8pplicabJe in the UK and Republic of IrelBnd IFRS 102). leffe¢kn 1 Janu8ry 2019). Obj•cliv•s and activities The school was established for the thfvanmrt. Promolion aThJ lurtherance ofp edwJon. The charity's main objectivè È5 the provision of high-qualty educational urse$ for forei students. The policy ¢ontinues to be to utilise the fwids Suppl by FolkhOgSka Braheskolan and the chanty's ass¢ls in the nwjst effluent and affe(aNe mannèrfor the benèfit ofthe st(nts. The invOemen1 of Folkhogskola Brahoskolan enables the tharity to clntrate on the educaiion of ihe studetts. The tharity also sUpS confererrE and sports facililies to the kncal nnnIty. The objeth.ves of The &•Jish Folk Pligh S¢hcKI kn the year were to.. Continue lo prode high quality edUtK)nal ¢ourses for foreign students. Maintain relations with exislmg agents aThnd the work1 and to enc¥)urage the retum of short, dosed coursès for ieenagers and young adults to Loxdale. R&fresh ourwebsite and marketing informatp)n ready for Lajncerted wmotions in 2024. Improve thè (x)ndth"on of the buildings for sludwl and staff comfort. Continue to offer a wide range of Continual Prolessirmal DeNPJOnl options for all stsff. Jikl up the staff to pre-comd levels. up reserves luttjre builthng wor and repairs. The trustees hav8 paid dve regard to 9ul¥nce isyJed by the Charity Commission in deciding what actmlies the charity sh1(1 undertake. The charita8 ctsmp8nls poky u8 to Ul1 aTrJ drsojss with emOyeeS mattefs likety to affect empksyees, intorasts. Infomiation of m8ltÉrs of c£neem to empkjyees 1$ wen through wular m88tin9s. information bulleb.ns and Teports which seek to achieve a mmOn awareness on the part of al emthees of Ihe financial and economic factors affecting the perfornianc ofthe chty. Applications for enwloymenl by disabled persons a aws fully consKlered. bearir#J in mind the aw'tudes of the applicant eoncemed. In the event of members of staff becoming di$abled. every effort is made to ènsure that their employmènt within the tharitable company continues and that the apprwate training is arranged. li is the policy of the charrtable company that the training, career develoF¥iient * promotion of disatrA811 rsOn5 should, as far as possiNe. be identical to that of other empkjyees. Strategic report The descrytion under headings 'Aehevements and perftymance. and 'FinarKial meet the o)mpany law requirements for the trustees to p(rtI a Strateg reF
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 A¢hievem8nts and perfornian¢e 2023 started with Ihe txJ¥iesl week &nce 2019 was the bu&est year we'd ever had. Loxdale welcomed Swedish students. intemational adults and then a mix of 95 Chileans and Peruvians for the nter Coe. It was a livety and interesttng cours8 With excdlant fYback from the group ltr•Jers and sttjdents. en the Wnler couw finiShj. Loxdale t>)ntinued wth almost concurrent ck)sed (xjurses oft8an4ers throu9houl the Spmg along side thw'r adutt programffles. ¥4FI of teaching lults m one building and teenagers in the other conb.nues lo work well. In terms of stuilenl nune(s, we had the biggest SpriNJ $nce 2019. The Students did very well in dass and with their Aclwty wèek prosentalions. There are 3trways a nvmber of students suffering w(Ih anxiety bLrt we find the use of the rnonlhly school mèntal heahh counsekjr very useful it has been a great support for ow students. We also wn 8 course giving wesentsb.ons to supp(Mt those needed lo build up to the presènlalbjn they do to the wholÈ school. Thtr Swedish students who sluty al Loxdale OtinUe to from 811 social bgrounds induding irnmigrants to Sweden, those with mikl depr¢ssKJn. autism or Aspergers. those th an incomplete secondary education, university students and mature stut1ents. Somè have a range of mental heatth issues that can be exasperated by the Lockdown periods and uncwtsinty and the sthTrJl continue(1 to promde monthty counselling session$. support them through regul¥ meetings and lutorials and indiduall$lng sup1 vtsi needed. The SumNEr courses went very well Sh woThIerf students. In temis of numbers. Ltsxdale had 76% of the highgst recorded students numbers of 2019. TheTe was an artNAe in the EL Gazette thich shows that Loxdale English Centre is in thè Top 14 Summgr CourEes 2023. The Prtyicipal kept to the decision to restrkx the number of students to 7S% of the 2019 fUTes. She still fek that it was irnportanl lo keep the qualty and safety of the o)urses hwh and to trwjild up resources gradually lo ensure thls. Atthough the awailabilty of staff and ac<>)mmodalion has inc¥eas8d a lfftle SI 2022. recnjltnI of both is $lill an issue. Loxdak managed to re¢ruit atl the strff they needed aThJ Ipd a Very su(¥5sful summei. Already all the groups have rthked for rnMer 2024. Due to our high British C(xJnol scores. Loxdale was tok1 th we were still in the lop 8% of all English language tthIng prowders in the UIQ We were awarded use of Ihe EL Galette Centre of ExlenCe logo. A priority of the school for 2023 wa5 to do some essertia woth to the school and fa<ililies. During the Spring an extra storage room was built and exierrive woth was done to trt farade of the main buildiig. Rendering, gutters and rèpointing wor and refith.no delicate ston wa5 dcTh. During the Summer a new shed was txjdt. In December major ¥vork wa$ started on ret111 and refu1$hing the shower. toilet araas of Loxhal. Six new showers and toith are beitvJ instslled. L0Xda also aple[l for. and was granled a HMO In{ Loxhall. The Autumn temi went well atthou9h Loxdale had Sli1 lower numbers than nomial. However, the number of inlemational students inLTeased. The Autumn was th¢ a chanco to tyjikj up the staffing thls al Loxdale with new administration and maintenance stsff. During Autumn much work was also done by Loxdth to buikl up and promote the Wnter 2024 teenage course and dosed group course numbers for 2024 and this is klTra wy promising.
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT {INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The Swedish Folk High School continues to be a committe(1 member of Ihe English UK Speual Intèrest Group for Young Learners and has improved its prordures and polieS for wothn9 With VUln8b]e adults and children. Anna Thal¢her, Principal is on the Board antt Nganises training sessk)ns for Ihts group. Anna Thatcher is still involved with Sussex Safeguariliw. a dedi¢ated Safewaf¢ling Grotsp for kngu8ge scods in Brighton. The charity has still managed to wekomè requests from varM)us ChareS and memr5 of the lo(al rmunty to use the sports hall and confe[ fau.IrtS al discounted rates. Financlal review The statement of Finanual ActilieS a net of £1,536 (2022.. £34,682). tot4 reserves stand al £1.123.69612022: £1.122.1601 and free reserv&s at £91.899 (2022.. £103,(P311. The pmncfpal sources of ino)me are thg educational grant from Fow Braheskdan 3uppb8m6nt¢d by conferanL, rental, the Summer Sch¢)ol. nOTrS13h L¥Jerrts, and group inCMe. The experKJiture [1Uj the year continued lo be applied to staff costs and the premises runniThJ costs. supporling the obj'ectivgs. The prosent levd of funding 18 eonsKlèrÈd a¢kquate lo support the continuion of The Swedish Folk High School and th8 trustees consider th8t the faneral pwiti. of the charity is sisfartory. The lolal number of student weeks (Swedes. Summer and Intemalimal students) was almost back to 2019 numbers. 023 ,449 022 021 1,471 019 ,819 18 The Pmapal and AccAwnts Manager Conun to work together to reart to maintsin cashllow for tho school. As in 2022. the Board o)nfirmed that thr parent ¢Mipany, FU. is in a strong financial sliuation and this sh¢Juld serve as a guaranteè. There is no threat to LoxdaS8'$ nted wcxk over the next year. The tru$lees believè that maintsiniNJ reSeS at ffent kvels wlj provhJe sufficEnt r&srceS in the evènl of further adverse conditions. OTrJanisational controls indude an nUal remew of the uJntrcAs over key financial systems. The trustees have assessed the maTrJf risks to whth the chaiilable tMpanY is exk>)sed and are satisfied that systems are in place to mthgat8 exposure to thè major iisks. Plans for future perlod8 ans foi the fvture indu¢Je e£bntinual Impr0NEThnt to the school and the courses offèred. The situation is looking very positive for 2024 induding the largest ever Winter teenager course in January 2024 and a well 0ked diary of dosed4Jroup cournes throughout the IAfjnter and Spring. sJrnn 2024 bknn9S have also started to come in. StruCre. g¢vernanco and managemont The charitable company is a company limited by gu¥antee and is Iherefore gOved by ils Mgmorandum aThJ des of Assoaats"¢)n.
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT IINCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustee5. who are a150 dirèdor5 forth8 putpos8 ol etynpany lthf. and who 5eNed duriThJ the year and up to daEg ofsJnatuTr ofthe ffinanryal statemèrt5 we.. P Sal&r3 N IAÈsc(Mnbe R DanSOn E Irowarsson C Otsson IRwn&J 28 FetKuary 2023) {Appointed 28 Febnjw 2023} None ofthe trust8e5 has any benefio'al intErest in rhe cornpany. AM ofits trSteeS arg memters ofthe cornpany and guarantee to eontribut& £1 in the event of a wiThYiryJ up. Th& companvs Ilemorandum & Mides Stste that orE-third ofthe dirertors must rèswJn ead) year but each can be eligibl& for r&election shoukl hetshe a1 Board In )rdance wrth the charrtS pr(£duKes, trustees. kn an interest in ts mathèb.ng and SUC$$ of the Charty arè nornir4ted by St'ftelsen Braheskolan. Th&y are ITh1 and Sup[¢ by the Chalmian. The trusteès are currendy looking to dect one rn¢ perSC to thè Board. The trustees meet at kast frjur times a yaaf to manag9 11 tharitys afrdir& At meets'ngs th• current situation is dis¢ussed. abng wtth the markding process, p0SOrt. mapr rna1trtenar issues and fijnding. Thè Prin¢pal makes the day4aY dwsK)ns in wnniThJ the SChC and meets with or morè of the Board to discuss markth.ro and major finanoal deo5ions 8tvaric times. Key rnanagemt uneratitin 15 set by the Trustees. Thè th8nty ceN$ grant frL¥n Fokhogskcla Braheskolan on a monthty baw& The trustees considw that the major r 10 lch lh& charity i8 expostd 1$ a r&JuctiLN) in grant fuThJing. Fhjwever. the ineraase in the numtÉr of 1nternab.onal stLhJents, rJyJrse incryne aThJ the devdopment of the summer young aMer courses are consKlered suffiaent to rngate this risk. Auditor In accordance with the cornpanls aitides, ¥ resokthn prcy)wrg that W & Limtsy be reappoin1 as 8udrtot ofthe cunpany wll be wt at a Meetiry. Di¥closure of infonnatlon to audttor Eath of the trustees h85 confirmed that trEre is infomiab)n of they we aware which is r818vant to the aud( but of which th8 auditor i8 uWare. They have further Cfirrned that they havè tsken appropriatè steps to identify sud) rvant infom)ab"on and to est&4ish that ihe 8sJJÈLor aware of such infonnabon. trustees repryt was aFprod by ts Board ofTrustee // P Sander5 Trustso N *SComte Trust•• 22 Febru 2024
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF TRUSTEES RESPONSIBIUTIES FOR THE YEAR ENDED 310ECEMBER 2023 Th6 trust88s, who are also the threcaors of Tr Swedish Folk High School for the Put>e of o)mpany law, are responsible for preparing the Trustees Report and the financial statemènts ty) alrd¢ wtth applicable law and Unrted nadOrn Accounting Standards (United Kingdom GenerallYACPted Accounting Prackel. Company Law requi the trusteès lo Ppare fThnt4al slatements for eath finanaal year whith give a trLte and fair ew of th8 state of affairs of the charity and of thg inumnang resources and ¥pCatiOn of ras<wrces. indLtding th$ income and expen¢&ture, of the ¢harrtable company for that year. In weparing these fjnanckil slalements. the trust88s ar8 required to.. - salect suitable antIrd OK4es and then 4)pty them consisl¢ndy: - observe the metWs and prinuples in the Chwiiies SORP. . make judgements and estimales that reasonable and - state wheltrw applicable UK ArA)nting Standards have been foknved, to any material departures discbsed and explained in the financial slatements: and - prepare the financial statements on the gc4ng eonf*m basis unless bt is inapprowmte to presume that the tharty 11 continue in opefation. The tmstees a responsit4e for keèping adequale COunting rerdS that disdose WTth reasonable accuracy at any tirne the financial kw)sits'on of the charity an¢J enable them to ènsure that thè finamal statements compty with the Companies Act 2006. They ale also responsible for safeguarding Ihe assets of th8 charty and hence for taking reasonable steps the prevention and detethon of fraud and other irregularities.
THE SWEDISH FOLK HIGH SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE SWEDISH FOLK HIGH SCHOOL Oplnlon We have audited thè financi statements of The Swedish Folk High Sthool (the 'chaiity'l for the year ended 31 Ccember 2023 which comprise the ststernent of finanaal aetmties, the stalemenl of financial position, the statenI of cash flows aftd the notes lo the financial ststemenls, indudng a summary of significant accounting policies. The finanrial reporting frarnv44cKk that has been applied n their preparatN)n is applicable law and United lQngdorn A¢uting Standards. indLkling Finan(aal Reporting Slandard 102 The Financial Rèporting Standard applicable in tha UK and Repu1¢ of Irdand Iunrted ngdrIn GeneraltyA(tspted Accounts"ng PraCte}. In our opini(, the financial statements.. give a true and fair eW of the slate of the charrtatrje companls affair5 a5 al 31 Decembèr 2023 and of its inox)ming resourcas and application of SOUrCes. induding ils itMx)me and expendrture. for the year then ended., havè been properfy preparad in adance tmth Uilted lfjngdom Ganerdlty Actepted A(y))unting Practice., atyl have been prepaw In attordaTh2 with raquirernents of CtynpaniesAcl 2C#J6. Ba$1¥ for opinion Wo wnducted our &JdÉt in aC(xyd Intemati(Mal Standards on Audfting (UK) IISAS {UK)l and applrcable law. Our responsibilities under those standards are further described in the A¢Klitorfs rnsponsiblfr.gS for the audit of thg financN81 statgrnents Sgction of our report. are independert of the in cOrdance wth the ethical requ1mentS that are relevarrt lo our autht of the finanoal statements in Ihe UK. induding the FRC'S Elhbcal Standard. and we have fvled our Oth ethical {esp(S"1[kneS in aCcan[> th these requiremèllts. We believe that the audrt ewdene8 we have obtned is suffirnl and appTopriaie to FKovide a basis for our opinion. Concluslons rnlatry to golng concern In audrting the financial statements, we have that the trustees use of thè going concem ba$b of accounting in the preparation of the finan(ial statefflents is aprKopriate. Based on the wk we have perf0Md, we have r¥)t any material unc•rtainties relating to ants or CdItiOnS that. indmdualty or cle"¥dY. may cast Swlfi[nt Ooubt on the charity's abilty to rAyttinue as 8 going cce foi a period of * least efve months from when the financial statements are authorised for issue. Our responsibilrfi8s and the responsbdities of the truStS with resFrt to going (y)reM are dèsmbed in the relevant sections of this re Olhèr Inforniatlon The olher infomiafion comprisès the inforrnatk)n induded in the annua report oth&r than Iho finanual statements and our audilorfs rekyt Ihereon. Tha tnjstees are responth for the other information contained within the annual report. Our opirmon on Ihe fmnual stements does not covèr the other infomiation and, èxcept to Ihe extent otherwise eXplicY stated in our reKK. we do not express any fomi of aSSUrar CCduSlQn thereon. Our responsibility is to Tead the Oth infomation and. in dng so, cxjnsider whether the other information is materrally inconsistent wth the finarrial ststements or our knOWge obtained in the wurse of the audti, or ¢Ahetwise appears lo be materially misslaled. W we identify such material InconsisterKies or apparent m8leri81 misstatem•nts, wa arè required to d8lermine whether this gNes rise to a mateiial misstatement in thè financial ststements themselves. If, based on the work we have performed, we condude that fvre 15 a Material misstatement of tS other infomiation. Wg are required lo report that fact have nOthg to report in this wanl. Oplnlon• on other matters pr•scrlbed by th• Companies Act 2006 In our opinion, based on the wcrfk undertakon in the course of our audit.. Ihe infomiation givw in the trustees reF*)rt for the finanfial year for whith the financlal 8talemenls are prepared. whth inejudes the direciors, report prepared the purposes of company law, is eonsigtenl with the finCial statements., and the direuors, report inchjded wrthin Ihe trustees rep(yl h8$ been prepared in a)x>rdancÈ wtth appbcable legal r8qui¢ements.
THE SWEDISH FOLK HIGH SCHOOL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TOTHE TRUSTEES OF THE SWEDISH FOLK HIGH SCHOOL
Matters on we are requlred to report by exe•p
In the light of the knowkdge and understanding of the charity and its eftwrcMent thtained in the course of the
audit, we have not idenlffied material mtSStements in the directors. reF
THE SWEDISH FOLK HIGH SCHOOL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE SWEDISH FOLK HIGH SCHOOL understanding how those tharged with governan considered and addressed thè potential lor ovèrrKlè of controls or other inappropriate tnfiuence over the financial reporting pr¢Trss.' iden11.ng and tesiing iourngl •ntiia$. in PticJJlar any ioumal entries p051ed with unusual a(twnt mbinations.. and aS8essing the extent of o)mplvance with Ihe rekwant lws and tiOr. A furthèr description of our rèspontles i% avadthe on the Financial Reportlno Courrifs websrte al.. https."Il ww.frc.org.uklaudrtorsresponbI1"tteS. This (kn"plion fom18 part of our auditorfs report. This report is made solely to the charitable )MpanIS mwnbers. as 3 body, in aoX)rdara wrfh Chapter 3 of Part 16 of the Companies Acl 20C6. Our audit wort has been undertaken so that we might stste lo the tharrtable eompany's members those matters we are required to state to them in an audiiorfs report and no other PUTrM)se. To the fulest extent permitted by bw, we do not accept assume SponsI1 to anyone other than the tharrtable ClpanY and the charitable company's membefs as a b(xly, for our audit work. th$5 report. or for the opinions we have fom1. Michelle Iyestbury FCCA IS•nior StstutoryAudi¢ort for and on bghalf of West & B•rry Umited 22 Fèbwary 2024 Chartorod Cortifi AOntrnts ststutory Audlt Mo¢atta House Trafalgar Place Bhton BN1 40U
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE AccOur FOR THE YEAR ENDED 31 DECEMBER 2023 Unmtricted Unrnstricted funds lunds 2023 2022 Income and ando Grants CharItae actMti9S Investments Govemmenl grants 254.484 823,036 38,747 262.640 521,776 44.073 6,343 Total incom• 1.116,267 834.832 gn Ituro on: Charitable aclNities 1.114,731 81X),150 Iltt income for the yearl Met movement in fund$ 34,682 Fund balances al 1 January 223 1,122,160 1.087,478 Fund balan¢•s al 31 Dewnlmr 2023 1.123.696 1.122,180 The statement of finan¢¥l activit$ irKth$ a gains b)sse8 recx)gnised in the year. All ints)me and expendrture derive frcxn tinU1J a¢tiwls. The statement of finanaal ac411$ also coMpS wilh the r8quiremer)ts for an inti)me and expènditure arrA)unt under the C<Jmpanies A(a 2.
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF FINANCIAL posrrioN AS AT 31 DECEMBER 2023 2023 2022 Flxed assets Tangiblè assets 11 1,031.797 1.019,069 Current as¥•ts Debtors Cash at bank and in hand 12 235.186 434,857 240,865 341,S31 Crediti)r8: amounts lalllng du• Twlthin on• year 670,043 582,396 14 (493.319) 1369,36n Net ctwrenl assets 176,724 213.029 Total assets less curront Jiabllili 1,208.521 1.2Y2,098 crltl. amounts falling due after morn Ihan ong year 15 {84.825} 1109.938) Not 1,123. 1,122,180 Income funds nre lricted fun General unieslricte(1 fvn(Is ReVUatIOn reSee 1,042,271 81.425 1,040,735 81.425 1.123.6 1.122,160 1.123.696 1.122,160 The finaneial statements We apiyoved by th& TnBtee8 on 22 Fe 2024 N we8cnbe Trugtre E Ing%rdrs>Jn Trusts Company reglstratlon number 1497558 10-
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cayh flovo from 0ratIng •divlti•s Cash generated from operations 101.Q7 81,364 Investing activlties Purchase of langiÈ4e fixed assets Proceeds from disposd of tsngible fixed assèts Investment income r8¢eivgd (21,68T) 14.241} 250 44,073 38.747 Net cash g•nernted from investh acllvltl• 17.cfjo 40,082 Flnaneing actSvhlo8 Repayment of bank kjans P5.361} (51.208) Nèt cash u$•d in flnancing acfl¥itl•s 125.361) 151.2081 Not Incr•• in ¢ash and cash equlvalents 93.326 70,238 Cash and cash equiyalents at begrnnrng of yeai 341.531 271.293 Ca$h and ¢ash equlvalents at end of year 434.857 341.531 11
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounlkng pollcl• Charity infornmtion The Swedish Folk High SthcKA is a "Vate eomparby limited by guarantee in)rpOrated in England atNJ Wales. The regisld Offi is Loxdale. Locks Hill. POrtSe, East Sussex. 8N4121A. 1.1 Accountlng )VentIOn The finanual statements hav8 been pf¢par¢d in accordan wilh Ihe tariVs Memorandum and Articles of Associats"on. the Companies Act 2006, FRS 102 Tr Financaai RepL¥ting stdar aprAicable in the UK and Republic of Ireland. fFRS 102.) and the Charibes SORP "ACtOting and Reportiny by Charities". Statement of Ro¢ommended Praccs applrcabte to (JwitiÈs wepanng their a(wJnts in accordance th the Financial Reporting Standard 4wlicable in the UK and Re1¢ of Irekt7d (FRS 102)" (effective 1 January 2019}. The charity is a Public Benefrt Entity a5 defined ty FRS 102. The finanaal statements are prepared in sterling, ¥thith Is the furbOnal cuThency of the djarity. Monetary amourts in these financaal statements ¥fe rouTrJed to the nearest The financial statements have t4en prep¥ed under the historical cost o)nvention. The prTwpal accounting policAes adopted are sat OLrt bek)w. The accounts comply with FRS 102. 1.2 Going concem At the time of approving the fina31 stalements, th& trustees ha¥e a reasonable expectstion that Ihe Charity has adewale resources lo continue in operab.onal exIstere for the foreseeable fuiure. Thus. the Irusleey (tsnlinue to adopt the going concem basis of a(ntIr9 in prep4Mg the finanTral stalemÈnts. IJ Charltablfr funds Unrastricted fvnds afe availat4¢ for use * the dtsuobon of the trustees in furtherar$ of thair charitable objecb"ves. The charity estsbjsshed a desvJnated fvnd as a reserve Io against industy downtum. perfom) emergen¢y repair work. or other uses at the discreb.on of the trusis. In norm years. the ftjnd $haN èquata to 30% of the annual surplus. Due to the 1JLffiIt Cond.0$ (Jeated by the CoMd-19 pandemic no amourt was transferred to this reserve in 2022 or 2023. 1A In¢om• Grant and ntaI income induded on a recttvablo basls. lee5 reNed in a(fvanc are deferred. Funds r•ceiv8d as Agent relat9 to aCMm&tKIn 8 not recognised in the accounts. 13 Expendlturn Expenditure is reojgnised once there is a legal or CA)nstructrve obligation to transfaT economic benefit to a third party. rt is t)robable th a transfer of e£0M1¢ befftS be required in Settrnet, ¥nd the amount of the obli9ation can be rneasured reliabty. Expenditure is class1rd by acbty. The ctsls of eath activrty are rnade up of the total of dire(* cttsls and shared costs, induding support ¢05ts involved in urK1&ts"n9 each actrvity. Diie¢t cost5 attn"butable to a singlé activity are allocaled direcuy to that avitY. Shad costs which cx)ntsibute to more than one activity and support costs whith ar¢ not attrrbJlable to a ngle actity a apportioned bètween thos6 activtties on a basis (¥Jnsi$tent with the us& ol resources. Canlral stsff costs are al41 on the basis of time spent, and depfeciab'on charges are alkncaled on the port of th& asset's usè. 12-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policl•s (Continu•dl Resources expendgj are induded in the Statement of F4nd Actsviknes on an ac¥xuaL8 basis indusive of any VATwhich Cannol t rewvered. CharilaÈ48 expenditu are expense¥ INrred direL li pursuance of the tharity's principal a¢'vity and SUPFKMt costs relating to this tThity. Support costs are those in01r1 in conneclbn with running the thanty that enable5 charitable acbvty to be undertaken. G0v8rTran Costs are those incurred in the rnance of ts tharity and its assets and arè primarily as$ocAated wth constitutiond and statutory requrements. 1.8 Tangibl• fixed •ssgts Tangible fixed assets are InallY measured at C#)8t and SubseqnI ffleasur¢d ai cost or valuation. net of deprectalion and any impairment kjsses. The ChaTity has a polw ofcapitslisirg ffixed assets that ry)st in exoss of £250. Depreciation is recognised so as to vrtite off Ihe co or wJluation of assets sS their sIal values over thair us8fv1 lives on the folltrwing bases". Freehold land and buildings Plant and equipmenl Motor vehidès strahjht line {where above residual value} 25% ieduong balance 25% reducing baLqre No depreo8tion Is provfded in re5P8Ct of freehokj lan(J buddings. The Charity has a policy of high rnaIntenan of the trNJilding and the trustees that this leads to a high re&dual value su¢Jh that depreciation would not be material. The gain or Joss arising on the disposal of an asset is deterned as the difference belwe8n the sale prc¥xeds and the carrying value of the asset, i8 retsjgnised in th8 slalemgnt of financial ath"ts. 1.7 Impalrment of fixgd w¢ts At each rèporttng end dale, Ihe tharity reviews thè carry0 arnounts of it5 tangible assets to determine whether there is any indi(ation that those as8ets have 5uffer&d an ¥npairment loss. If any such indication exists, the rets)verable amounl of the asset estim8d in order to deteanine the extent of the Impalmnt loss lif any). 1.8 Cash and cash equlvants C85h and cash equivalents indude cash hand deposits hèkj * Call banks. 1.9 Flnanclal instruments Th8 charity has elected to apply the prOvi&)S of Section 11 'Ba Fina[al Instrunwts. and SectJ) 12 'Other Financ1 Instruments Issues, of FRS 102 to all of its financial instruments. Finanaal instrumerts arè recognised the thwity's balanc• sheet when the el)aiity becomes paty to the contractual provisions of the instrument Finana31 assèts and liabilrb.es are offseL the nel amounts presented in the fnanc4al statements, when theie is a legalty enforceable right lo set off th& recowised amounts and tha is an intenb.on to Sett on a nel basi$ or to iealise the a5sel and settle Ihe kabilty %rrm4tan¢Sty. 13-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng poli¢1•8 (Conllnuodl Basle finan¢ialassets Basic finan¢ial assets. whK inthde debtors aNI cash and bank baLaw. are initsalty Measu al transaction pric£ induding transaction sts and are subsequenuy rTred at amortised eosl using the effectNe interest method unle55 (he arrangement constitutes a financing Iransadion, whwe the tr8nsath.on is measured al the prasent value of the fvlure Tpts discwrted at 4 m•thet rale of interesi. Finawal assets ¢lasslfied as receae within on8 year are not arnothsed. Baslc Ilnanelal li•bilit Basic financ4al liabile$, inrjuding Cfeditors and bank loans are rnib• recognised at transactKJn pric4 unle8S the ¥rrangement cx)nstitules a nanCIj transa¢"on, where the debt instrument is measured at the Present value of the Ivbjre payments discounted at a market rate of iiteresl. Finanoal liabilities dassifieil as payable wrthin one yeai are not amortised. Debt instruments are subseqL• cam&J at wnoitised cos( using Ihe effective interest ratg methL%J. Trade credil¢ys are oblytions to pay for goods Ser¥7 that have been acquired in ordinary course of ¢)perations from supplier5. Amounts pay8bl& are dassified as currènt "abIlItieS rf payment is due within one year or less. 11 not, they are presented as n(MjIrÈnt liabilit. Tiade ¢xedrtors are rwnised initialty at transaction price and WbsèqL)tty mtras at aiThJrbsed st using Ihe effective inlersst rntrthod. Dere¢ognltlon of finanei•l Math"liU• Financial lla.11ts.e5 are dgreo)gnised when the drity$ contracbjal Otrtyatio exrmre or are discarged or cancelled. 1.10 Employtt befits The cost of any unusetl holiday entillTr i8 recA)gnised in thè w¢xl in whK the empbyee's sowices are received. Terniinalii)n benefrts a recfjgnised iJnmediatèty as an expense the chaiity is dernonstrabty commrtted to terminate the employment of an employee or to proNide tenninion benofts. 1.11 Retiroment b•neflts Payments lo defined eA)ntribubon tetirennt benefft s(emes ar9 thargod a$ an expensg as they fall the. 1.12 Fordgn exchan90 Trarw¢tions denomThled in forèign cwrencies r)lled at Ihe rate ruling at the date of the transaction. Monetary assets and liats'libes derKJNnated in f9Tr ¢)Jrrencaes ara translated into slertirrtJ at th8 rates of exchange 1rj al thé balan( sheet dale. AJI drtrerenS are induded in net oulgoings ra$ources. 1.13 Funds The fund$ of the taTity are all unrestrwxed. 1.14 Valuo add tax Value added tax is not recovered by th& fJ*rity and as 5u¢h is induded in the relavant cxjsts in Ihe Statement of Finan<ial ACtitIes. 14-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crftical ac¢ounting timaS and judgenwts In thé application of the Char5 WXLm1Th3 rthes, the Iruslees arè required to makejudgements. estimal&s and assumptions about the rryIng amount of assets and liabilities that 8re not readily apparent from other sources. The eslimales and associated assumptions are based on hisl(wical expelle and other factors that a consklered to relevant AL1ual rests may dfvfrom these estimates. The estsmate5 and undedw.ng assUrytiS are reviewed on an ongoing basis. Revisions lo accounting ests'mates are recogni5ed in the peri(rfJ in which the estimate is rewsed where the rev5sion affects only that peTiod. or in the periTrl of the revision and fvture riOdS wher8 the rewsion affects both ¢xrrenl and future perhM& Grants Unrestrictsd Unrestricted funds fund$ 2023 2022 Grants Receirdble 254,484 262.640 Charitable activltlel Uwtrlcted Unrestrl¢ted fvnds funds 2023 2022 InCming reswrce$ from chitable aGb¥ilies 823,036 521,776 Funds received as agent not rewJnised in the a( £501.123 {2022.. £318.083) InVestsntS Unrnstrictsd Unrn•tricted funds fvnds 2023 2022 Rental Income 38,747 44.073 15-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Gov•Mml grdnts Total Unr¢$tricttrd funds 2023 2022 Govemment grants 6,343 Charltablo actlvi1185 Unrgtrl¢ted Unrestricte fund funds 2023 2022 Staff o)sls Depwation and impaiTment Commis&on and discounts Matsrial I library I student Sport hall costs Stsff canteen Iwelfare I wtertw"nment Building costs Markoting costs Bus passes Other administration cosEs- main RepresentatK)n l Brittsh Council SubstptIOns and prOfeSsnal fe8S Bank Charges Loan interest Loss on disposaf of tarKJible fixed assets 474.291 5,776 29.024 328,658 384,153 6.356 31,008 207.924 767 11.055 80.679 8,479 15,550 26,448 3,837 1,943 1.709 6,286 1,926 14,261 152,519 11,843 29.499 32.927 5.271 2.268 2,262 3.181 1.101.704 788,120 Share of governan costs (see rKst& ) 13.027 12.030 1.114,731 800,150 Governance costs irude payments to the auditors for audit fees of £5.65012022.' £S,2C4)l and nonthaLJtt fees £4,100 (2022.. £4,1(•}. IrKlud8d in eXpdire above are operating lease paYMts of £3.74412022: £3,744). Support ¢x)sts Costs inrred to llitate an adivity. uike dire(* costs. which result directly from undertaknng the xtimty. All [stS abo relatè direclty to the one athity of running of the school, support costs including payroll and finance are not consthrgd material to disclose separately as support costs. 16-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Trustses NO of thè trustees lor any persons &Jnneded th thern) rèceNed any remuneration or beneffts from the charity during the year. Furthannor8 no 8xpenses were reimbursed to thè trustees during the currert or prior y6aT. The average monthty number ofenW)yees durh)g the year was: 2023 Numb•r 2022 Mumber Adminislralive Tea¢hiro PrènNse8 14 12 Total 19 Employmont Costs 2023 2022 Wages atk1 salaries Social securtty costs Other pension costs 436.410 3S3.611 20.875 9.687 11.241 474.291 384.153 Thére no employees whose annual remunW1 was more than £60.(. 10 Taxaiion The chafity is exempl from tax on incorne and gains fal ¥rilhin section 505 of the Taxes A¢t 1988 or serbon 252 ofthe Taxation of chyea Gain8 Act to the extent that these are appleil to its charitable objects. 17-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Tanglb18 fixed assets land Plant•nd M¢4or¥ohk¥ d tsJNdrnp oquipmort Cost At 1 January 2023 Addioons sp)safs 185,787 4.037 I120.3) 800 1,186.587 21,687 {120.390} 17,650 Al 31 December 2023 1.017.650 1.087,884 Depreciation and ImpalMnt At 1 January 2023 Depieciafjon (arged in the Elirninaled in respect of *Jisposals 166,861 5,741 (117.0) 167,519 5,777 1117.209) At 31 December 2023 55,393 694 &8.087 Carrying amount Al 31 Dmber 2023 1,017.650 14,041 1.031,797 At 31 Decenkner 2022 1.LKO.OC 18.926 143 1,019,C69 On adoptkn of FRS 102 the dewned Ist exemptt.on was applred to knnd and budd9$ with a carrying vae of £1,Crf)O,000. At the 31 December 2023. had the rw4lued assets been caffied at histor1r1 cost le$5 amulated depreoation and amlated inpaimient sseS. their (¥rry1 amwnts woukl havo been approximately £936,225 (2022.. £918.5751. 12 D•btor8 Anwunts faning due withln on• year. Trade debtors Cther debto Prepayments and XL7ued income 2023 2022 168.537 11.5S4 152.418 16.424 72,023 235.186 240,865 18-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Loans and o¥•rdrnft 2023 2022 Bank kjans 112.758 138,119 Payable wrfhin ong year Payable after ong year 27,933 84,825 28,181 109,938 ArnntS included above which fall due after fve years.. Payable by inslalments 2,789 The kng-teim loans are Se(red ty charges 04w the freehotd lan(J and buikling. 14 Crgditoys: •Trunt9 falling duo within ono year 2023 2022 Bank loarts Other laxalitin and wcial ¥ecurity DefgTrÉd income Trade cre(lrtors Othef creditors Acrrualg 13 27,933 12,748 418.384 11,622 8,248 14,384 28,181 5,226 271,674 43.486 5,787 15,013 16 493.319 369,367 15 Credltr*rn: amounts tslling after mor• than year 2023 2022 Motss Bank loans 13 84.825 109,938 16 t>•f•rred Incom• 2023 2022 Arin9 from course fres 418.384 271,674 19-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Def•md In¢om• IContlnu8dl DefeThed in¢omo is irK4ed in the financaal statennts a$ fomtyws.. 2023 2022 DefeTred Incomè is n)chjd vAIINn: Current liabilities 418,384 271,674 MoveTrnts in th8 year Deferred income at 1 January 2023 Rejeased from prawous peric¥Js Resources deferred in Ihe ye 271,674 1271.674) 418.384 153,978 {153,978) 271.674 Deferred int))me at 31 t)ecemter2023 418.384 271,674 17 Retir•ment b•nefft8chem Defin8d contrlbution scheThs The charity operates a defined 0)ntribUti pension schème f qualfying employees. The assets of the stheme are held separalety from those of the d)arity in an Independent administered lund. Tha pension cost charge represents (x)ntributiO payabk by the thaTila)te u)mpany lo thg fund. The charge lo profft or loss in respect of dered CtrIbut)n sthm•s was £11,241 (2022.. £9.66n. The amount due to the nsIOn stheme al the baFan sheet dat8 £1.11412022: £944). 18 Operattng lease commlknènts At the reporting end dale ihe charity had wtstanding mMitrnenlS for fuiur8 minimum lease payments und&r rKJn-canceltatle op8ff3ling knses, fall due as fofiows" 2023 2022 thin one y¢ar Be¥89n two and five years 3,744 8,352 3.744 12,096 12.096 15,840
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 R•lated party transactlonB Rwnunorntion of key man•gemeni personnel The rgmuneration of key management FsOnnel as foNows. 2023 2022 Aggiegale compensation 59,421 55.440 Tru$te¢s There are no related party transactJns witti any trust8es for both the (awrent and prior year. 20 Ca¥h gMernt•d opordtions 2D23 2022 Surplus for the year 1.536 34,682 Adjustments kjr Investment income recowisad in ststemenl of finara adNIts Loss on disposal of tangible fixed assets Dewecialion and ImpalmnI of tsngible fixed assets 138,747) 3.181 5.776 144.0731 1,926 6.356 Movements in workn.ng capital: Dec¥easellincrease) in debtors ID&crea$e)fincrease in ¢yedtic¥s Inase in def8rre(l ino)me 5,679 122.5081 148.710 (75,038} 39,815 117,696 Ca$h g•nerated from *)peratlons 101.627 81,364 21 Ana19 of changes in funds At 1 Jamwry 20Z3 2023 Cash at bank and in hand 341.531 93.326 434,857 Loans fauuig due thin one year Loans fall9 due afier more than one year 128.1811 {109.938) 127,933) 184.825) 25.113 203.412 118,687 322.099 21