Company regi$tration number 149755B IEngland and Wales) Charity registration number 280428 IEngland and Walès) THE SWEDISH FOLK HIGH SCHOOL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE SWEDISH FOLK HIGH SCHOOL LEGAL AND ADMINISTRATIVE INFORMATION Trustèès P Sanders N Wescombe E Ingvarssc C Olsson S Ritson (Appointed 10 December 20251 (Appointed 10 Dèeèmber 20251 K Yazgan Secretsry A Thatcher Country of Incorporatlon Unite(l Kingdom IEngland and Wales) 1497558 Chartty reglstratlon England and Wales 280428 Regl¥t0d offlc Loxdale Locks Hill P(ytslade Easl Sussex BN412LA Audltor W8St & B8rry Limit8d Nile House Nile Street Brighton BN1 1HW Bankgrj Nalwesl Bank PLC Westem Avenue Chaiham M81itirne Chatham ME4 4RT
THE SWEDISH FOLK HIGH SCHOOL CONTENTS Page Trustees report Statement ol trusteès responsibilitiès Independent auditor's report Statement of financial activities Stslement ol fin8n¢ial p0511ion 10 ststemtrnt ol ¢ash flows Notès to th8 finanoal statèmants 12-21
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEAIBER 2025 The tnjslees present their report and finanaal slalements for ihe year ended 31 December 2025. Please refer to Legal and Administrabve Inf0MtIOn page for charity ststutory infomiation. The finanri81 stat8ments h8v8 been prepared in acrdn the 8cmJnting rMAi¢i9$ $8t out in note 1 to th8 financial statements and comply with th8 chanty's Memorandum and Articles of Association, the Comp3nie5 Act 2006 and Accounting and Reporting by Charities." Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repo"n9 Standard applicable in the UK and Republic ol Ireland IFRS 1021. (effective 1 January 20191. Objectives and activities Thè sd)ool was èstablish for the advancèmènl. promolion arwj furtherance ol public education. The charity's rnain objective is the provision of high-qualily educalional courses for foreign students. The policy continue5 to be to utilise the funds supplied by Folkhogskola Braheskolan and the charitys assets in the most efficient and effective manner for the benerrt of Ihe students. Th& involvemènt ol Folkhogskola Brahèskolan enables thè charty lo concentrat$ on the $dUcaOn of thg stud&nts. Th& charity also sup10$ conler•nc• and sports facilil¢•s to the local communjty. The objectives ol The Swedish Folk High Schcd lor the year were io. Get excellent leedback in our Brilish Countyl inspection. Continue lo provid8 high quality edueational ¢ourw for fowign students and lo work on edu¢alional Improvements. Rewrite and redesign our websito and markebng infomiatJn ready for ujncarted promtions In 2026. Update and improve the condition ol the buildings lor sludent and staff comfort. Continue lo offer a wide range of Continual Prolessional Development options lor all staff. Do the provisional reports and building surveys needed to siarl ¢he building work on the first stage ol the on-81te residential cenlre. The trustees have paid due regard lo guKl8nce is3ue(I by Ihe Charity Commission in deciding what activities the Charity Should undertake. Thè charitablè company's policy is to eonsult and diseuss wth èmploy matt•ts likaly to affacl ampl0$, interests. Inlorrnation ol matters of conrn lo employees is given through regular meetings. inlomation bulletins and reports which seek to achieve a cornrnon awareness on the part ol all employees of the financial and economic factors affecting the performance ol the charity. Applications for employment by disaed persons am ah¥ays fully considered, bearing in mind the aptitudes of the applicant concemed. In the event of members ol stsff becoming disabled, every effclrt is made to ensure that their employment within the charitsble company continues and Ihal the appropnate Iraining is arranged. It is the policy ol the charitable company that the training. career developmenl and promotion of disabled persons should, as far as possible. be identical to that of other employees. strategic report The description undèr hoadings 'Achievèments and pèrfonnancè. and 'Financial revievl meèt thè company law requirements for the Iruslees to Fwesent a Strateg report.
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 A¢hl•vom•nts and pèrfomianc• 2025 started off w811 with Loxdale welcorning alrnost the same amount of Swedish student5 as in 2024. How8v8r, the nurnber ol South American adult and teenage students was down. It was mostly down to the Chilean market. However, the winter course was lively and. in additional to the Chilean. Panamanian and Peruvians. we welcomed Unjguay students lor ihe first time. Loxdale received excellent leedback Irom the group leaders and students. All have rebooked for Winter 2026. The Uruguay agency is also booking a September 2026 group. The closed courses ol teenagers contirbued thr(xJghout lh8 Spring alon95ide our 8dtAIt prograrnm8s. The St11 of teaching adults in t)ne building and leenagers in the other (x)ntinues to wort well. The Swedish students who study at Loxdale C£tinUe to be from all soaal backgrounds including immigrants to Sweden, those with mild depression. autism or Aspergerfs. those with an incomplete secondary education. university sludents and mature students. Some have a range of mentsl health issues. and the school continued to provid8 rnonthly counselling sessions. sUp)rting them through regular meetings and tutorials and individualising 5UPPOrt whgn negded. Th6 Summer courses went very w611 with wonderful sludents. However, student numbers were severely down. MosUy caused by difficultses at one agency who had pbOoked groups and cancelled thern at short notice due to their few student numbers. Most of the EFL industry had fewer summer student numbers. One of the possible reasons are effect5 of Ihe Trump administrat and their trade partner uncetsinty. Th6 EL Gazètte showèd that L0xd3 English Cènlrè 1$ in thé Top S Summèr Coursès 2025 in lèms of quality. During the summer, we were able to $upport 2 students from Ukraine %*ho had fled the war and needed English tuitbon. Loxdale Managed ¢0 recruit all the staff they needed and had a very succes8fv1 summer regarding staffing and 8C8demic work. All Ihe groups have re-booked for Summer 2026. Thg 8rili$h Council inspection wnl very well and due to oyr high Bri'sh Coun¢il $core$, Loxdalg wa$ told that we ar• now in th8 top 5% 01 all En91ish lan9ua9è téachin9 wovidèrs in thè UK. Wa were 8wBrd8d usè ol thè EL Gazette Centre ol Excell6nc6 logo. A priority of Ihe school for 2025 was to do some essential work ¢0 Ihe school and lacilib'es. The were several 1005e tiles overhanging 8 walkway and an internal water leak which rneant thal we had to have this fixed. Once the roofers gol up ther8, il showed that many more were 8tt8ched to rotling timber and we h8d to do f8r more ext8nsiv8 work than wa'd plannad and bu¢J9èt8d on. The Auturnn terrn went well, albeit wth lower Swedish sbjdent numbers. Perrnission was given by Ihe Board to start phase one of our plan5 for a gocxy quality onsile residenty'al oentre. We want to double the nurnber of bedroorns Irorn S to 10 to seixjre regular accommodation in(x)rne. Most of the bedrooms would also h8V8 ensuit8 faalities. After appoiniing lh8 architecl, there were a number of surv8yS that have lo be done to ensure that Ihis is p0Sble. 0[ this was confirvned, we interviewed 4 building companies and appointed our preferred option. Planning pemission was given in November 2025 and the actual building work started 8 December 2025. Loxdale ha5 taken out a bank loan to pay for the building work. This was approved in N¢)vember 2025. The Swedish Folk High School continues to be a commitled member ol the English UK Speaal Interest Group for Young Learners and has improved its procedures and policies for working wilh vulnerable adults and children. Anna Thatcher, Principal is on the Board and organises training sessions for this group. Anna Thatcher is still involved with Suss8x Safeguarding, a dedicated Safe9U8rdin9 Group for18nguage schools in Brighton. The charity conb'nues to welcome requests from various chanties and members of the local communty to use the sports hall and conference lacilitses at discounted rales.
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Flnanclal r•vl•w Th8 stst&m8nt of Financial Activities show5 a net defit of £65.964 12024.. £49,280 defirytl, tot81 reserves stsnd 81 £1,008,45212024.. £1,074,416) and free reserves at £nil12024.. £35,192). The principal sources of income are the educalwjnal grant from Folkhogskola 8raheskolan supplemented by conference. rental, the Summer School. non•Swedish students. and dosed group income. The expenditure during the year continued to be applied to stsff costs and the premise5 running costs. supporting the objects'vgs. The present level of funding is consi¢Jere(l adequate lo support the continuation of The Swedish Folk High School and the Iruslees consider that the financial position of the charity is satisfactory. The total nurnber ol student weeks Iswedes, Summer and Intemational sludentsl. 025 3,313 024 ,658 023 .449 022 ,725 021 1.471 20 ,343 The Prinapal and Accounts Manager ClInUe io work together to react to maintsin cashflow for the school. As in 2024, the Board ¢onfirned thai their parent ¢omp8ny. Fc4kuniv#rsitetei, is in a strong finan¢i818ituatiorn and this should sèrv8 as A 9U8rant6é. Th&r& 1$ no thrèat lo Loxdal&'$ eontinuod woth (trvèr thè naxt yaar. The Iruslees plan to increase free reserves to support th8 future development of th6 chadty. Organisalional contrds include an annual review ol the controls over key financlal systems. The Iru5tees have as5es5ed the major risks lo which the d)arit8ble ¢(NnP8ny is exposed arnd ar? s8li$fi8d th81 syst¢m$ aro in pla¢9 to mitigatg ¢xw$ur& to Ihe major risks. Plans for future periods The main plan for 2026 is to finish the first stsge ol our sidential Cen by InCaS1ng the number of bedroorns trom 5 to 10 and improving lacililies from new kilchen and ensuiles. Other plans indude increasing the number ol students, esp8Ci811y Ihe internalion81 $tudent5. We have a well b(K)ked diary of dosed4Jroup cours95 throughoul the Wintor and Spring. Summer 2026 btM)kin9s have also started to (x)me in and l(x)k more promising than 2025. Structur•, govèrnaneè and manag•m•nt The charitabl8 cornpany is a company limited by guarantee and 1$ therefore governed by its Mgrnorandurn and Articlgs of Association. The trustees, who are also the directors for the purpose of company law, and vtho seNed during the year and up to the date of signature ol the financial statements We.. P Sanders N Wescombe E Ingvarsson C Olsson S Ritson K Yazgan IAppoinied 10 December 20251 {Apw)int8d 10 D8C8mber 20251 None of the trustees has any beneficial interest in the company. AJI ol the trustees a members of the company and guarantee lo contribute £1 in the event of a winding up.
THE SWEDISH FOLK HIGH SCHOOL TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 The eompanrfs Memorandum & Artides state that one-third of the ¢Jirectors must resign each year but each can be eligible for re-election should helshe and the Board wish it. In accordance with the charity's pridUS. new tnjstees. with an interest in the marketing and success of the harity are norninated by Stiftelsgn Braheskdan. They are inducted ar supported by the Ch8irrn8n. Two ngw mamb8rs ol the board startèd at th8 ènd of 2025. The trustees meet at least four tsmes a year to manage the charivs aflairs. At these meetings the current situation is discussed, along with the marketing pwss. finanoal position. major maintenance issues and funding. The Principal makes the day-to-day decisions in running the school and meets with one or more of the Board to discuss rnarkeling and major financi81 decisions at various times. Key m8n8gement r8muner8bon is sgt by the Trustegs. The ¢harity rtr¢eiv$s grant in¢om$ from Folkhogskola Braheskolan on a monthly basb. The Iruslees consider that the major risk to which the charity Is exposed is a duCts.0 in grant funding. However, the increase in the number of international students. dosed course income and the development ol the surnrner young learner courses are COnsered svfficient lo mrtigate this risk. Audltor In accordance with the cornpanls artides. a resolution proposing that West & Bery Limited be reappointed as auditor ol the company wll be pul al a General Meeting. Dl¥clo¥ure of Inforrnatlon to audllor Each ol the trustees has confim)ed thal the is no inforniat of which they are aware which is relevant to the audit. bul of which the auditor is unaware. They have further confirmed thal they have taken appropriaie steps to identify such relevant infomalion and to eslablish Ihal the aud¢tor is aware of such information. The trustees report was approved by Ihe Board of Trustees. 0108O/rro P Sanders Trustee C OIs50n Trust Dale.. 6 Mar 2026
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEAIBER 2025 The trustees, who are also the ¢Jirectots of The Swedish Folk High sch)1 lor the purpose of company law, are responsible lor preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom GenerallyAccepted Accounting Practicel. Company18w requires the tnJstee5 to prep8rg finanoal statements for e8ch fin8nryal year which give 8 true and fair view of the State of affairs of the chanty and ol the in(x)ming resourc85 and application of resourcès, in¢lLJding thè incomè and 6xpenditur8, of the chantabl8 company lot that y*ar. In preparing these financial ststements. Ihe Irustees are required to.. . select suitable auounting polioes and then apply them consistently- observe the methods and principles in Ihe Charibes SORP.. make judgements and esb'mates Ihat are reasonable and prudent., 5t8t8 wheth8r applicab18 UK Accounting Standards have begn fdlowed. subigct to any rnatgrial d8partures disclosed and explained in the financial slalemenls." and prepare the financial slalemenls on the going concem basis unless it is inappropriatè to presume that the charity will continue in operab'on. The Iruslees are responsible for keeping adequate accounting re(ords that disclose with reasonable accuracy at any time the financial posilion of the charity and enable Ihem to ensure thal the financial statemenis comply with the Cornpanie5 Act 2006. They are also responsi9 for 5aleguarding the asseis of ihe charity and hence for taking rèason8blè stèps lor thè pwvèntion and d¢t¢¢li¢)n of fraud and olhor irragulariti$$.
THE SWEDISH FOLK HIGH SCHOOL INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE SWEDISH FOLK HIGH SCHOOL Oplnlon We have audited the nnal statements of The Swedish Folk High Sth(x)r (the 'charity'l for the year 8nd8d 31 Dernber 2025 which comprise the staternent of ffinancial activitie5, the statement of financial posib"on, the statement of cash flows and Ihe notes lo the financial statements, induding a summary of significant accounting policies. The financial reporting framework that has been applied in Iheir pparatIOn is applicable law and United Kingdom Accounting Standards. induding Financial ReFM)rting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom GenerallyAc£epted Accounting Practice). In our opiniori, the financial 5tatements'. give a true and fair view of the state of the charitable CoMpanS affairs as at 31 December 2025 and of its incoming resources and application of resourcés. inc4uding its incJ)me and expenditure. for the year then ended.. have boen propèrty prepared in acccwdance wilh Unrt8d Kingdom Generally Accept8d AcC¢nting Practice., and have been prepared in a¢¢or<Jan¢e with Ihe requirements ol the Comp8niesA¢t 2006. Basls lor oplnlon We conducted our audit in accordance with Internal81 Stsndar(Is on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those slan¢Jard$ artr further dtrscribed in th& Au(Jitorfs r8sponsibilili&s for the 8udil ()f lh& financial stèt&monts section ol our report. We aré indèpèndènt ol thè charity in accordancè with thè athieAI requirements that are relevant to our audit ol Ihe 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 appropriaie to prowde a basis for our opinion. ConcluBlon• relallng to golng concern In auditing the financial slalemenls, we have conduded that the InJste8s use of the going concem basis ol accounting in the preparation ol the financial ststemenls is appropriate. Based on the work we have performed. we have not idenlif*d any material uncertainties relating lo events or ndilions that, individually or collectively. may casl si9nificanl doubl on the charity5 ability lo continue as a going ¢on¢em for a pgriod of at l¥ast tw¢lv$ month$ from wh¢n the finan¢ial $lat¥ments arg auth¢)risgd for issug. Our responsibilities and the responsibililies of the trustees respect to gng concem are described in the relevant sections ol this report. O¢her Inforniatlon The other inlomation comprises tha inlomiation indLwJed in th• annual report other than th& finanaal statements and our auditor's report thereon. The trustees are responsible for the olher inlomiabon contained within the annual reporl. Our opinion on the financial slatements does not cover the olher inforniation and. except lo the extent otherwise explicitly stated in our report, we do nol expre$5 any form of assurance conclusion thereon. Our r85ponsibility 15 to read the other information and, in doing 50, consider whether the other information is mat8rially inconsistent with the financial statem8nls or our kno%edg? obtained in the u)urs8 of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistenues or apparent material misstalements. we are required to determine whether this gives rise to a material misstatement In the financial statements themselves. If, based on the work we have performed. we o)ndude thal there is a material misstatement of this other informalion, we are required ¢0 report that facl. We h8Ve nothing to report in this rggar(l. Opinions on othtr mattèrs pr•scrib•d by thè Compani•s Act 2006 In our opinion, based on the work undertaken in the (x)urse of our audit.. the information given in the trustees report for Ihe finanaal year for which the finanaal statements are prepared. which includes Ihe d1CtorS. report prepared fw the purposes of company law, is consistent with the financial slaternenis.. and the directors, report included wrthin the trustees reKN)rt has been prepad in accordance with applicable legal requirements.
THE SWEDISH FOLK HIGH SCHOOL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE SWEDISH FOLK HIGH SCHOOL Matt•rs on whlch wè ara r•qulr•d to rèport by •x¢•ptlon In th8 light of th8 knowledge and understsnding of the charity and ils environm8nt obtained in th8 cours8 of thg audit, we have not identilied rnatenal misststements irb the directors. report included within the trustees report. We have nothing to report in respect ol Ihe folh)wing matters in relation to which the Companies Act 2006 requires us to report lo you if, in our opinion-. adequat8 accounting retx)rds have rK)t b88n k8Pt, or returns adequate for our audrt h8V8 not b88n r8C8ived from branches not visited by us., or the financial statements are not in agreement with the accnting records and retums., or certain disdosures of tnJslees' iemuneralion specrfied by law are not made; or we have not received all the information and expl8n8tions we require for our audii,. or the trustees were not entslled to prepare the finanaal slalements in accordan wth the small companies regime and take advantage of the small companies, exemptions in preparing the trustees report and from the requirement ¢0 prepare a strategic report. Rg¥pon¥lbllltl•8 of tru•t•e¥ As explained more lully in the statement of Iruslees resFM)nsibilities. the trustees. who are also the directors ol the charity lor the purpose of cornpany law. are responsible for Ihe preparation ol the financial statements and for being 88tisfied that they give a ¢rue and f8ir view. and for such in¢em81 control as ¢he Iwstees delerrnine is neSSary to enable the preparation of lin8ncial statements Ihat are free from mateiial misstatement, whether due to fraud or 8rrtsr. In preparing tho finanaal slatemnts, th trust ar¢ re$ponsibl$ for assèssing thè charity's ability to continuè as a going conc•m, disdosing, as applicabl8, matlets rèlaltsd lo going concern and using th• going concem basis ol accounting unless the trustees eilher intend to liquidate the charitae company or to cease operations, or have no realistic attemalwe but to do so. Audltorfs responslbllltles for the audlt of the financlal ststem•n¢s Our objectives are to obtain reasonable assurance about whether the financial slalemenls as a whole are free from material rnisstalemenl, whether due lo fraud or error. and lo issue an audilorfs report that indudes our opinion. Reasonable assurance is a high level of assurance bul is nol a guar8ntee Ihal an audit conducted in accordance with ISAS IUKI will always detecl a material misststement vthen it e¥ists. Misstatements can arise from fraud or 8rror and are considered m8t8rial il. indivallY or in the aggregaie, they could reasonably b? expe¢tod lo influ&n¢& the gconomic de¢isions ol usèrs taken on the basis ol these finaniial statemènts. The extent to which our procedures are capat4e of d&tecting irregularities, indLwJing fraud, Is detailed below. The objectives of our audit are to identsfy and assess the risks of material misstatement of the financial statements due lo fraud or error.. ¢0 oblain sufficien¢ appropriale audil evidence regarding the assessed risk5 01 material rnisslalernenl due lo fraud or error.. and to respond approprialely to those risks. (X¥ing lo the inherent limitations of an audit, there is an un8voidable risk that material mi5s13tements in the financial statem8nt5 rnay not b8 detected, oven though the audit is properfy planned and performed in accordance wth the ISAS IUKI. In identifying and assessing risks of matenal misstatement in respect of lffegularils. induding fraud and non-compliance with laws and gUlatiOns, our prOdureS induded the followng.. We obtained an vnderslandin9 of Ihe legal and regulatory frameworks appIlble to the charity and the sector in which il operales. We determined th81 the following 18W5 and regulations were mosl significant.. the Charib85 Act 2011, lh8 CIHnpani8s Act 2006, safeguardin9 18g151ation, health & safety and 8tnploym8nt laws. We obtained an understanding of how ihe charity is complying wilh the legal and regulatory frameworks by making inquiries to management. We assessed the susceptibility of the charitys financial statements lo material rnisstaternent. including how fraud might occur. Audit prtKedures perfonned by Ihe engagemenl team Indudj.. id8ntifying and assessing the design 8ff8ctiven8ss of controls man8g8m8llt h85 in plaix to pr8vent and detect fraud",
THE SWEDISH FOLK HIGH SCHOOL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE SWEDISH FOLK HIGH SCHOOL understanding how those charged vitth govemance conSided and adSsed the potential lor override ol controls or other inappropriate influence over Ihe financial rewrting process.. identifying and tests'ng Nxjmal entries. in parbcular any ioumal entries posted with unusual account Combinations,. and ssassing thè èxtént ol eompliancè wilh the rélèvant laws arml wulati¢)ns. A further descriptson of our iesponsibilitses is available on the Finanual Reporting Counal's website at.. ht9../1 www.Irc.org.ukJauditorSsp0n$Ib1Il1Ies. This description forns part of our auditorfs report. This report is made solely to the charitable company's members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we might slate to the charitable company's members those matters we are required to slale to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume SpOnsIbl11ty to anyone other than the charitable company and the charitable company s members as a bcxyy. for our audit work, for this report. or for the opinion5 we have formed. Mi¢Aelle W¢rtb¥ry FCCA Mlch•ll• W•stbury FCCA IS•nSor Statutory Audltorl For and on bghall ()f Wesl & 8erry Limiled. StaluttryAudi¢or Chartered Certified Accountants Nile Housè Nile Street Brighton BN1 1HW Dale.. .6.Mar2026.......
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Unrestrlcted funds 2025 Unrestrlcted funds 2024 Not•$ Income from.. Donations and legacies Charitable activities Investments 247,743 794.894 39,747 253,523 911.195 44,745 Total Ineome 1,082,384 1,209,463 Expendlture on.. CharilablÈ activitiès 1.148.371 1,258,743 Total èxpèndlturn 1,148,371 1,258,743 N•t •xp•ndltur• and mov•m•nt In funds 165,9871 149,2801 ReconclllatSon of funds: Fund balances at 1 January 2025 1,074,416 1,123,696 Fund balanc•8 at 31 D•c•mb•r 202S 1,008,429 1,074,416 The slatèmant of financlal actsvitlas Indudès all 9alns and lo$sg$ f8ccyJnis&d in thg year. Al In¢xJme and axpandltura derlve from conlinlbing activitiès.
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025 2025 2024 Flxed assets Tangible 85sets 11 1,108.712 1,039,224 Currant assèts Debtors Cash at bank and in hand 12 207,078 117.754 216,609 177.340 324.832 395.949 Cr•dltors'. amounts lalllng du¢ wlthln on• y•ar 13 1425,1151 1360,7571 N•t curr•nt Illabllltl•sVags•ts I1),283) 35,192 Total as8•t8 1•88 cumnt Ilabllltl•8 1.Cl)8.429 1,074.416 Th• lund8 01 th• eharlty Unre5tricled funds 1,008,429 1,074,416 1,008,429 1,074,416 6 Mar2026 The finan¢ial stalemtrnts were approved by the Iruslees on ......................... Olof Olr¢o P Sanders Trustee C Olsson Trustst 10-
THE SWEDISH FOLK HIGH SCHOOL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEAIBER 2025 2025 2024 Note$ Cash flows from operating actlvltle5 Cash absorbed by Opera'OnS 19 119.3931 1174,8681 Investin9 activities Purchase of tangible fixed assets Investment income rec8iv8d 179.9401 39,747 114.6361 44,745 Nèt eash lus•d Inllg•n•rat8d from InStIng actlvltles 140.1931 30,109 Flnanclng actlvltl•8 Rèp8ym8nt ol b8nk loans 1112,7581 Nèt cash used In flnanclng ad¥ltlè8 1112,7581 Net d•cr•as• In cash and cash •qulvalgnts 159,5861 1257,5171 Cash and cash equivalents at beginning ol year 177.340 434,857 Ca¥h and ca•h equlvalgnt• at •nd ol ygaw 117,754 177.340 11
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2025 Accountlng pollcl•s Charlty SnformatSon The Swedish Folk High School is a private cornpany limited by guarantee incorporated in England and Wales. The registered office is Loxdale, Locks Hill. Portdade. East Sussex, BN41 2 1.1 Basis of preparatSon The financial Statements have b88n prepared in aecordance vh the chaiity's Memordndum and Articles ol Association, the Companies Act 2006. FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic ol Iland. I"FRS 102.1 and the Charities SORP"Accounling 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 IFRS 1021" leltecb've 1 January 20191. The charity is 8 Public Benefi¢ Entity as defined by FRS 102. The financial stat$m$nts are ppared in sterling. whth is the fvn¢tion81 ¢urr¢n¢y ol Ihe charity. Mon&tary amounts in thèsè financial statam•nts arè lo thè nearest £. The financial slatements have been prepared under th6 historical cost C4)nvent. The prinapal accounting policies adopted are s8t out below. The accounts cornpty with FRS 102. 1.2 Golng eone•m At the time of approving the f nancial s¢a¢ements. the trustees have a reasonable expectats'on that the charity has adequate resources to conbnue in operational existence for the foreseeable future. Thu5, the truslees nlinue lo adopt the going concem b8$i¥ o18ccouniing in preparing the fin8nci81 slalemenls. 1.3 Charltable funds Unrestricted funds ar6 available for use at Ihe disLYetion of Ihe trustses in furtherance ol their charitae objects'ves. Th8 charity 6slaNishad a dasignatad lund as a r8sèrv8 to protect against industry downlum, parform 8merg6ncy repair work, or other uses at the disu•b"on ol the trustees. In nornial years, tha fund shall equate to 30% 01 the annual surplus. 1.4 Ineom• Grant and rental income are included on a receivable bass. Course fees received in advance are deferred. Funds roc8iv8d as Ag$nt rèlth'ng to 8c¢ommodation a not recognisgd in the accounts. 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligalion to transfer economic benefit to a third party, it is probable that a transfer ol economic benefrts will be required in setuement. and the amount ol the obligation can be measured reliably. Expenditur8 is dassified by activity. The (x)sts of each activity are made up of th8 total of dir8ct Costs 8nd sharèd costs, including supwjrt costs involved in undertaking each activty. Direct costs attributable to a single activity a allocated direcuy to that actsvity. Shared costs which contnbute to MO than one activity and support costs which are nol attribulable (o a single adivity a apportioned betr4een those activities on a basis consistent with Ihe use ol resources. Central staff ca)sts are allocaled on the basis of time spent. and depreriation charges are allocated on Ihe wrbon of Ihe asset's use.
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Accountlng pollcles {Contlnuedl Re50urc8s expended ar8 indud8d in the Stat8rnent of Finano81 Acliviti8s on an accruals b85is inclusive of any VAT which canntst be recovered. Charitable expenditu are expenses lnuJr direclly in WTSUan of the charitys principal activity and support costs relating to this actiw. Support costs are those incuThed in connection running the charity Ihat enables the charitable activity to be undertaken. Govem8nc8 costs are those incurred in the govem8nce of the ch8rity and ts 8&8ets and are primarily a580ciat8d with consts'tutional and statutory requirements. 1.6 Tanglble Ilxed as•ets Tangible fixed assets are initially measured at cost and subsequenuy mèasured at cost or valuation, net ol depreaation and any impaimient losses. The Charity has a policy of capitalising fixed as5els thal st in exc&8s 01 £250. Depreciation is recognised so as to write off the s1 or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Plant and equiprnenl Motor vehicles 2% straight line (where above residual value) 25°A redung balan 25% reducing balance No depredatlon Is provided In r•spect of freehold land and buildin9s. Tha Charfty has a polley of hlgh maintenance of the building and the trustees feel that this leads to a high residual value such that depreciation would not be material. The gain or loss arising on the disposal of an asset is delemined as the drfference between the sala proceads and the carrying value of the asset. and is recognised in the statement ol financial activities. 1.7 Impalm•nt of Ilxod ass•t• At each reporting end dale. the charity reviews Ihe carying amounts of ils tangible assets to detemiine whether there is any indication Ihat those assets have suffered an impaiment 1055. If any such indication exi5t5, the r9coverable 8mount ol the asset is estirnaled in order lo deterrnine the extgnt of the imp8irrngnt loss lif 8nyl. 1.8 Ca¥h and cash equivalents Cash and cash equivalents indude cash in hand and deF*)sits held at call with banks. 1.9 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 '8asic Finanaal Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all ol its financial instrurnents. Financial instruments are re())gnised in the charity's balan sheet when the charity be¢rneS party to the ntr8du81 prwsions of the instrument. Finanual assets an(J liabilth.es are offset, wth the net amounts presented in the finanual statements, when there is a legally enforceable ngh( lo set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and sellle the liability simultaneously. 13-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Accountlng pollcles {Contlnuedl Basic financial assets Basic financial assets. which indude debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequenuy carried at amorbsed cost using the effective inter8st rn8thod un18SS the arrang8ment constituies a finanang tr8nsactiDn, wh8re the transaction is 83sur8d at the pr858nt value of th8 futur8 receipts distx)unt8d at a rnaet rate 01 ini8r85t. Financial ass8ts classified as receivable within one year are not amortise(l. Baslc fin•nclal Ilabilltios Basic financial Iiabilit185, Induding ueditors and bank 108ns are initially recognised at transaction pric8 unles5 the arrangement conststutes a financing transaction. where the debt instrument is measured at the present value ol the future payments discounled at a mart<el rale of inte$t. Finanaal liabilities dassified as payable within one year are not amortised. Debt instruments are subsequently carried at arnorbse(l o)st, using Ihe effective interest rate method. Tradè craditors 8rè obligations to pay lor 9)$ or sèrvicès that havè bèèn 8cquirèd in tha ordinary coursè ol operations from suppliers. Amounts payable are dassffied as curnt liabilities il payment is duè within one year or less. If not. they are presented as non-current liabilities. Tra¢Je creditors are recognised initially at transaction price and subsequentty measured al amorb'sed c4)st using the eflective interest method. D•recognltlon of llnanclal114bllltl•s Financial liabilili&s ara dér8ccrfJnised wh8n tha tharity's contracbjal obligations expira or ar• discharged or cancelled. 1.10 Employe• benelllg The cost of any unused holiday enbllement Is r8cognised In the perfod In which th& &mploy&a's satvlces are received. Termination benefits are recognised immediately as an expense when the chanty is dernonstrably committed lemiin8le the ernployment of an employee or to provide lerminalion benefits. 1.11 R•tlrèm•nt banofits Payments to defined contribulion retsrement benefil schemes are charged as an expense as they fall due. 1.12 Forelgn ex¢hange Transactions denominated in loreign Djn()eS are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denoThwnated in foreign currenThes are translated into steding at Ihe rdles ol exchange ruling 8t Ihe b818n¢x sheet dale. All drfferences are induded in nel oul90ings resources. 1.13 Funds The funds of the chariiy are all unreslricted. 1.14 Value added tax Value added tax is not recovered by the charity and as such is induded in the relevant costs in the Statement of Financial Actiwties.
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Crltlcal aecountlng èstlmat•s and Judg•mènts In the application of the charity's aco)unting p)licies. the tnjstees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estima¢es and ass¢)riated 8ssumplJons are based on historical experience and other factors that ar$ con5Kl$r8d to b8 r818vant. Actual r8sulis may differ from 8stimat85. The estimates and undertying assumptions are vieWed on an ongoing basis. Revish)ns to accounting estimates a recognised in the period in which the estimate is revised Whe the rewsion affects only that period. or in the period of the vIsion and futu per1$ where the revision affects both current and future periods. Income from donatlons and 18gacle$ Unrèstrlet•d funds 2025 Unréstrlet•d funds 2024 Grants 247.743 253,523 In¢om¥ from ¢haTiiabl¢ •¢tlvhl•$ Unr•strlcted fund• 2025 Unrestrlcted fund8 2024 Incom• Incorning reSoUrS from charitable activities 794.894 911,195 Funds r1ve{l a$ 89ont nol ro¢JnIS¢<l in Ihe a¢¢ounts £467,93612024.. £530.4281 Income from Investments Unrestricted Unrestrlcted funds funds 2025 2024 Rgntal income and bank interest 39.747 44.745 15-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Expondltur• on charftabl• a¢tl¥ltl•s Unrestricted Unrestrlcted funds funds 2025 2024 Dlrect costs staff costs Depreciation and impairment Commission and discounts Materialllibr8rylstudent Staff canteenlwellarelent•rtainm8nt Building wsts Marketing costs Bus passes Other adrninistration costs- main RepresentationlBnts"sh Counal Subscriptions and profession81 fee5 Bank charges Loan interest Loss on disposal ol tangible fixed assets 543.535 7.375 24.745 317.490 11.540 138,275 18.446 18.233 31.911 7.854 5,118 2.404 529,966 3.256 35,747 342.601 12,519 217,448 12.741 23,865 32.737 6,012 16,202 2.243 7,049 3.956 3.077 1,130.003 1,246,342 Share of Support and govemance costs Ise• not• I Governance 18.368 12,401 1,148,371 1,258,743 Analygls by lund Unrestncted funds 1,148.371 1,258,743 Govèrnance costs includé p8ym6nts to thè 8uditors f audit of £6.22012024.. £5,850) and non-8udit 18ès £4,50012024'. £4,100). Included in expenditvre above are operating lease payments of £3,74412024.' £3,744). Support cosls are c¢)sts incurred lo lacili¢ale an activity. Unlike direct costs. which resull directly from undertaking the 8Ctivty. All costs 8bov8 relate direcuy to the one activty of running of the school, sUPPOrt costs including payrdl and financè arè nol considéred matèrial tr) disdos• sèp8r8tèly as supwrt ctssts. Net movement In funds 202S 2024 The net rnovemenl in lunds is stated after thargilI(edltsn91.. Fees payable for the adt ofthe financial statements Depreciation ol ovmed tangible fixed assets 6.220 7,375 5,650 3,256 16-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Trust•ès None ol the trustees lor any persons ccffinected with them) received any rem¢Jneratson or benefits from the charity during the year. Trusteés re wirnbursed for a¢commo(Jation oxponses totalling £nil during the y&ar12024.. £3201. Employ•ès The average monthly number of employees duriThJ the year was: 2025 Number 2024 Number Administrative Teaching Premises 12 15 Tol81 21 23 Employment ¢o$ts 2025 2024 Wages and salaries Social security costs Other pension Costs 490.211 37.378 15,946 486,641 31,366 11,959 543,535 529,966 The number of employees wh03e annv81 remuneration was more than £60,1)00 is as ftsllows.. 2025 Numbèr 2024 Numbér £80,000 to £70,0 R•muntration of k•y manag•m•nt porsonn•l The remuneration ol key management personnel was as lollows.. 2025 2024 Aggr8gate compensth.on 66,016 63,332 10 Taxation Thè chanty Is èxempt from tax on incomè and gains falliThJ wthin s8dion 505 of thè Taxès Act 1988 or sèdion 252 of the Taxation of Chargeabb GainsAct 1992 to the extent that these are applied to its charitable objects.
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 11 Tanglbl• fixod ass•ts Freehold lond ond bulldln Plant oqulpmont Motor v¢hl¢lo$ Totol C05t At 1 January 2025 Additions Disposals 1.029.457 57.131 43.620 22,809 122.6001 800 1,073.877 79,940 122.6001 Al 31 Decernber 2025 1,086.588 43,829 800 1,131.217 D•pr•clatlon and Impalrni•nt At 1 January 2025 Dtrpr8ciats'on charged in Ihe year Eliminated in respect of disposals 33.933 7,355 119.5231 720 20 34.653 7,375 119.5231 Al 31 Decernber 2025 21,765 740 22,505 Carrylng amount At 31 December 2025 1.086.588 22.064 60 1,108.712 At 31 December 2024 1.029.457 9.687 80 1,039,224 On adoption ol FRS 102 the deemed cost exemplion was alad to land and buildings with a carying value of £1,000.000. Al the 31 Decernber 2025, had Ihe revalued assets been carried at historical cosl less accumulated depre¢iation and 8ccumulaleil impairment losses, Iheir carrying amounis would have been approxirn8tely £1,005,16312024.. £948,032). 12 D•btor8 2025 2024 Amounts falllng du• wlthln on• year: Tr8de debtors Other debtors Prepaym8nts 8nd 8ccru6d incomè 132,661 8,649 65.768 169,735 7,952 40,922 207,078 218,609 18-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 13 Cr•dltors'. amounts falllng du• thIn on• yèar 2025 2024 Other taxation and social security Deferred income Trade creditors Other creditors A¢¢rua15 9.393 381,274 10,963 4.599 18,886 8.217 326,542 6,369 4.346 15,283 14 425.115 360,757 14 Dgfgrr•d in¢orn• 2025 2024 Ahslng from course I$ 381.274 326.542 D&l&rr&<l In¢om& 1$ Indud8<1 In th& finanoal $lalemgnts a$ follows.. 202S 2024 Deferred income is induded within.. Currènt liabilitiè$ 381,274 326,542 Movern8nts In tha ar Deferred income al 1 January 2025 Released from premous periods Re50ur¢es delerred in the year 326.542 1326,5421 381,274 418,384 1418,3841 32fj,542 Deferred In¢om& at 31 Decgmt*r 202$ 381,274 326,542 15 Retlrem•nt beneflt schem•s 2025 2024 Defined contrlbullon schemes Charge to profit or loss in respect of defird (x)ntribution sch8mg8 15,946 11,959 The tharity operates a defined ntribUtIon penSn scheme for all qUalI.ng ernployees. The assets of the h8rne are held separately from those ol the charity in an independenfjy administ8red fund. The p8nsion cost charg8 represents contribution5 payable by lh8 charitable Ixjmpany to the furKI. The pension liabiliti'es ouistanding at the year end were £1,48012024". £1.3841 19-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 16 Op•ratlng l•as• eommltm•nts Lessee At the reportsng end dale the charity had outstandi1 cornrniltnent5 fiK future minifflum lease payrnents under non-cancellable operating leases. wh1 fall ¢Jue as fc41ows." 202S 2024 Wllhin one year Betwe8n and five years 3,744 864 3,744 4,608 4.608 8,352 17 Capltal commllm?nlg Amounts ¢ontr8¢t8d for not provided in the financial ststèmonts= 2025 2024 ACquiSOn ol propérty, ant and equipmènt 336,000 18 Related party tTan$¥¢tlon• Tru8to•8 There are no related paty transaclions with any Iruste8s for both the ujrrent and prr year, aside of those disclosed in note 8. 19 Cash absorbed by 0ratIOnS 2025 2024 Dèfiat for tha year 165,9871 149,2801 Adlusth)•nls for. Inveslment incorne recognised in ststemenl of finan(i81 activities Loss on disposal of tangible fixed assets Dèpreciats'on and impairrnont oftangible fix assèts 139.7471 3,077 7.375 144.7451 3,955 3,256 Movom•nts Sn working capital: D8crease in debiors Increaselldecreasel in ueditors Incr88s81ldecreasel in deferred incom8 11.531 9,626 54,732 16,577 112,7891 191,8421 Cash abs¢)rbtd by oporations 119,3931 1174,8681 20-
THE SWEDISH FOLK HIGH SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 20 Analysls of ¢hang•s In nèt funds Th8 charity had rbo rn8t8rial debt during the y88r. 21