Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 Company registration number: 1693887 Charity registration number: 286434 ## Rudolf Steiner School (South Devon) Limited (A company limited by guarantee) Annual Report and Audited Financial Statements for the Year Ended 31 August 2025 Manningtons Statutory auditor 39 High Street Battle East Sussex TN33 0EE Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Contents** |Reference and Administrative Details|1| |---|---| |Strategic Report|2 to 3| |Trustees' Report|4 to 7| |Statement of Trustees' Responsibilities|8| |Independent Auditors' Report|9 to 12| |Statement of Financial Activities|13 to 14| |Balance Sheet|15| |Statement of Cash Flows|16| |Notes to the Financial Statements|17 to 31| Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** **Reference and Administrative Details** |**Secretary**|Julie Thomas| |---|---| |**Senior Management / Leadership**|School Leadership Team| |**Team**|| |**Charity Registration Number**|286434| |**Company Registration Number**|1693887| ||The charity is incorporated in England and Wales.| |**Registered Office**|Hood Manor| ||Dartington| ||Devon| ||TQ9 6AB| |**Auditor**|Manningtons| ||Statutory auditor| ||39 High Street| ||Battle| ||East Sussex| ||TN33 0EE| |**Solicitors:**|Michelmores LLP| ||Education Team Exeter| ||Woodwater House| ||Pynes Hill| ||Exeter| ||EX2 5WR| |**Bankers**|National Westminster Bank plc| ||9 Fore Street| ||Totnes| ||Devon| ||TQ9 5YW| Page 1 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Strategic Report for the Year Ended 31 August 2025** The Trustees, who are directors for the purposes of company law, present their strategic report for the year ended 31 August 2025, in compliance with s414C of the Companies Act 2006. ## **Achievements and performance** ## _**VAT exception**_ 2024-25 was a challenging year for the school. In January 2025, the new Labour government removed the VAT exemption on private school fees resulting in an additional 20% added to gross school fee invoices. The trustees and SLT made the decision to support school families by reducing school fees by 15% from January 2025, thereby absorbing the majority of the increase. Unfortunately it was necessary to restructure staffing in order to fund less fee income which ultimately resulted in a reduction of 11 positions and annualised savings of £126k. Despite the reduction in staff, the school was able to maintain its breadth of curriculum and the pupil numbers remained stable throughout the year closing at 250 pupils. ## _**Loan Consolidation**_ In December 2024 the school consolidated its loans and released £300k of capital earmarked for capital spend on the site. The school’s stable financial position, plan to address the VAT exception and Good Ofsted rating gave the lender confidence to provide increased funds at a lower interest rate than the previous lender. ## _**Qualifications**_ Upper School pupils work towards the New Zealand Certificate of Steiner Education (“NZCSE”). The NZCSE, at Level 3, allows students to apply for university in the UK and in Europe as a full alternative to A levels. In 2025 the Level 3 NZCSE students were all successful in attaining their certificate at a Highly Commended level. Since 2023 the school has offered the opportunity for pupils to sit an English and Maths GCSE. ## _**School Activities**_ Summer 2025 saw some great school trips. A cycling trip in North Devon was incorporated into the curriculum in Class 9 while Class 8 went on their usual long trip to Europe. In May 2024 Classes 11 and 12 had visited a school in Morocco and the Moroccan school then returned the visit in November 2024 and April 2025 forging strong relationships between the two schools. ## _**Business analysis and KPIs**_ The school had a deficit of £45k in 2025 (2024: £101k surplus), and a trading deficit of £66k (2024: 171k surplus). The school closed 2023/24 with 250 pupils and closed 2024/25 with 250 pupils. Page 2 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Strategic Report for the Year Ended 31 August 2025** ## **Financial review** |**Financial review**|| |---|---| |Accounts (deficit) / Surplus
Depreciation
Bad Debt provisioning
Parental deposits release
**Operational (deficit)/ Surplus**|**2024-25**
**2023-24**
**£**
**£**
(44,633) 101,842
52,095
54,528
15,557
15,438
(89,394)
-| ||**(66,375)**
**171,808**| Despite actions taken by Trustees and SLT to absorb the VAT, stabilise pupil numbers and reduce staff costs, the school had an operating deficit of £66k in 2024/25 (2023/24: £171k surplus). The loan consolidation release of capital provided a cash cushion for all necessary capex expenditure in the coming years however, steps were taken at the end of the school year to ensure the school was at an operating surplus for 2025/26 and beyond. - Fees were increased by 6% for the 2025/26 school year - Staff were not given a salary increase for 2025/26 As a result of the actions taken to ensure a positive trading position, the school is forecasting an operating surplus of £50k for 2025/26 with 222 pupils and the budget for 2026/27 anticipates an operating surplus in excess of £100k. ## _**Policy on reserves**_ The policy of the Trustees set on 17/03/2026 that reserves of £120k would be built up over the next 2-3 years. The school is taking steps to build back this reserves position in 2025/26. Unrestricted reserves, that is reserves not represented by fixed assets or designated and restricted funds, which are used for specific reasons, amounted to £362,233 (2024: £55,916). 5/28/2026 The strategic report was approved by the Trustees of the charity on .................... and signed on its behalf by: Robert Worthington Trustee Page 3 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Trustees' Report** The Trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 August 2025. ## **Objectives and activities** ## _**Objects and aims**_ The object of the Company is to provide for and conduct the education of children in accordance with the principles and methods of Rudolf Steiner. In furtherance of its object the organisation operates the Rudolf Steiner School, South Devon (also known as the South Devon Steiner School), based at Hood Manor, Dartington. Its further activities include the organisation of cultural events, lectures and meetings and participation in similar activities with other Rudolf Steiner inspired organisations in the UK and abroad. ## _**Public benefit**_ As a charity, the organisation provides public benefit through its core activity as a provider of education to students from Kindergarden level through to age 19. The school aims to be socially inclusive and to welcome families from a wide range of financial backgrounds. Decisions on fee payments are made on an individual basis and families are invited to apply for a reduction of their fees allowing access to such education to students whose families would not otherwise be able to afford such an opportunity. The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## **Going concern** In accordance with charity commission requirements, the Trustees have considered the question of the viability of the organisation as a going concern. Having considered the school's forecast and projections and the options available to reduce costs should the need arise, the Trustees have concluded that there is a reasonable expectation that the school has adequate resources to continue in operational existence for the foreseeable future. The school therefore continues to adopt the going concern basis in preparing these financial statements. Page 4 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Trustees' Report** ## **Trustees and officers** The trustees and officers serving during the year and since the year end were as follows: Trustees: Juliet Crittenden Robert Worthington Ben Whately Alison Fisher Anne-Marie Hobbs (resigned 31 December 2025) Maggie King (appointed 1 May 2025) Secretary: Julie Thomas Senior Management / Leadership School Leadership Team Team: ## **Structure, governance and management** ## _**Nature of governing document**_ Rudolf Steiner School (South Devon) Limited is a company limited by guarantee. It is also registered as a charity with the Charity Commission, the Memorandum and Articles of Association of which is available to view on the website www.southdevonsteinerschool.org. ## _**Recruitment and appointment of Trustees**_ Trustees are appointed by the School Council of Trustees and then ratified by the members of the School Association at the AGM in accordance with the Memorandum and Articles of Association. ## _**Induction and training of Trustees**_ Trustees are selected for their high standard of professional skill, expertise and experience usually with a particular portfolio in mind. The application process is compliant with safer recruitment and safeguarding requirements, given that the charitable organisation is a school for children and young people. Those Trustees holding certain portfolios such as safeguarding and health & safety are required to do further in-depth training in order to meet DfE standards. All Trustees are required to do annual safeguarding training and update their knowledge of safeguarding policies and KCSIE. Induction also involves familiarisation with various governance documents on the responsibilities of being a Trustee including the Memorandum & Articles of the School Association, Independent School’s Standards and other regulatory compliance. ## _**Arrangements for setting key management personnel remuneration**_ The Trustees have agreed remuneration for key management roles according to levels of responsibility, experience and performance at relevant market rates, taking into account the geographical location. These salaries are reviewed as part of the annual review of performance and salaries across the school. Any Trustee who is also a paid member of staff is excluded from the review process and any related decisions. At present none of the trustees are paid members of staff. Page 5 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Trustees' Report** ## _**Organisational structure**_ The Trustees meet regularly to manage the organisation’s affairs. The day-to-day running of the organisation is formally delegated to the School Leadership Team (SLT) - which comprises the School Education Manager (who currently chairs the School Leadership Team), the School Business Manager and the elected teacher representative. The SLT meetings are also attended by the Lower School Learning Manager, Office and H&S and Facilities Manager, Designated Safeguarding Lead and the Early Years Manager. There is regular, comprehensive reporting to the Trustees on weekly, monthly and termly basis as appropriate. Underneath and accountable to the School Leadership Team are appropriate departmental structures and meetings which cover every aspect of the organisation’s activities. Trustees have direct methods of observing the implementation of policies, procedures and plans independent of leadership reporting. The organisation continues to maintain active links with the Waldorf UK, the national representative body for Steiner Waldorf education in the UK, with representatives attending national meetings and training days and ensuring a continuous exchange of policies, information, expertise and inspiration. The School is inspected by the Independent Schools Inspectorate. ## _**Major risks and management of those risks**_ ## _Charity's risk assessment_ Risk assessment is an ongoing component of Trustee activity with a risk register reviewed at termly board meetings. The annual risk review process has highlighted the Labour election pledge to remove the VAT exemption on independent schools which could have a significant impact on the value of VAT-inclusive fees charged to parents in the future. The Trustees and SLT are mindful of the proposed policy in school decision-making and continue to increase reserves. The charity’s risk profile is in line with any organisation offering education and all necessary steps are taken to ensure that appropriate mitigation and control structures are in place. They include comprehensive policies to guide every aspect of the organisation's activities, effective management and governance oversight, performance systems and insurances. ## **Disclosure of information to auditor** Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The Trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. ## **Reappointment of auditor** At the Annual General Meeting Manningtons Chartered Accountants were appointed for this accounting period. The designated Trustee will propose a motion reappointing the auditors at a meeting of the Trustees. Page 6 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Trustees' Report** The annual report was approved by the Trustees of the charity on .................... and signed on its behalf by:5/28/2026 Robert Worthington Trustee Page 7 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Statement of Trustees' Responsibilities** The Trustees (who are also the directors of Rudolf Steiner School (South Devon) Limited for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Trustees of the charity on .................... and signed on its behalf by:5/28/2026 Robert Worthington Trustee Page 8 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Independent Auditor's Report to the Members of Rudolf Steiner School (South Devon) Limited** ## **Opinion** We have audited the financial statements of Rudolf Steiner School (South Devon) Limited (the 'charity') for the year ended 31 August 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charity's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. Page 9 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Independent Auditor's Report to the Members of Rudolf Steiner School (South Devon) Limited** We have nothing to report in this regard. ## **Opinion on other matter prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Strategic Report and Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Strategic Report and Trustees' Report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Trustees' Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Trustees remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit. ## **Responsibilities of Trustees** As explained more fully in the Statement of Trustees' Responsibilities (set out on page 8), the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. ## **Auditor responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Page 10 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Independent Auditor's Report to the Members of Rudolf Steiner School (South Devon) Limited** The detection of fraud and irregularities is a primary consideration of the audit planning and is carried through to the audit completion stage. A risk assessment and preliminary analytical review is undertaken at the planning stage and areas of concern are then built into the audit strategy and testing to ensure sufficient procedures and evidence is obtained to give comfort that material irregularities and potential instances of fraud are detected where possible. The audit team is briefed regarding any areas or concern, the potential audit risks and consequential impact. The audit team remained vigilant throughout their work and made enquiries of key management personnel throughout. Rudolf Steiner School South Devon key management were consulted on any known or suspected breaches in laws and regulations along with misappropriation of funds at both the planning and completion stages of the audit. Due consideration was given to the possible use of management override and this was built into our audit strategy. The initial risk assessment highlighted a potential show stopper being of non-compliance with ISI (Independent schools Inspectorate) after switching from Ofsted in 2024 afer a Good rating in September 2023 every aspect and overall obtained. Rudolf Steiner School South Devon changed to ISI as it was considered to be more appropriate to the schools Ethos, and a material change visit was undertaken in March 2024, as requested by the DfE. We were able to obtain a copy of the full inspection report and all standards were met and material change granted, No other visits have happened up to April 2026, and the school has procedures in place to ensure Inspection ready so non compliance and potential show stopper not materialising. The purpose of the preliminary analytical review of the financial statements is to highlight any possible areas of concern to investigate whether the variance is expected or unexpected, based on the information obtained as part of the planning process and the current climate the charity is operating under. Relevant audit tests had then been planned to obtain supporting documentation to ensure that they are within the charitable objectives and no misappropriation of funds by way of fraud, or misstatements. Latest accounts disclosure checklists available are also completed to ensure the accounts comply with the latest reporting framework that is applicable to the charitable company. There are aspects of the audit which are deliberately unpredictable to assist in the detection of irregularities, such as varying how we test items which are more susceptible to fraud, year on year and by incorporating systematic sampling over the populations tested. ## **Use of our report** This report is made solely to the charitable company's Trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state 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 responsibility to anyone other than the charitable company and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed. Rowena T K Walsh (Senior Statutory Auditor) For and on behalf of Manningtons, Statutory Auditor 39 High Street Battle East Sussex TN33 0EE Page 11 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Independent Auditor's Report to the Members of Rudolf Steiner School (South Devon) Limited** Date:............................. Page 12 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** **Statement of Financial Activities for the Year Ended 31 August 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** |**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Activities for generating funds
5
Investment income
6
Total income
**Expenditure on:**
Charitable activities
8
Total expenditure
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
22|**Unrestricted**
**funds**
**£**
4,621
1,846,485
216
3,954
1,855,276
(1,902,414)
(1,902,414)
(47,138)
(47,138)
1,214,037
1,166,899|**Restricted**
**funds**
**£**
8,000
-
-
-
8,000
(6,495)
(6,495)
1,505
1,505
-
1,505|**Total**
**2025**
**£**
12,621
1,846,485
216
3,954| |---|---|---|---| ||||1,863,276| ||||(1,908,909)| ||||(1,908,909)| ||||(45,633)| ||||(45,633)
1,214,037| ||||1,168,404| The notes on pages 17 to 31 form an integral part of these financial statements. Page 13 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** **Statement of Financial Activities for the Year Ended 31 August 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** |**Note**
**Income and Endowments from:**
Donations and legacies
3
Charitable activities
4
Investment income
6
Total income
**Expenditure on:**
Raising funds
7
Charitable activities
8
Total expenditure
Net income
Transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
22|**Unrestricted**
**funds**
**£**
673
1,828,455
1,309
1,830,437
(1,500)
(1,727,095)
(1,728,595)
101,842
5,104
106,946
1,107,091
1,214,037|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
(5,104)
(5,104)
5,104
-|**Total**
**2024**
**£**
673
1,828,455
1,309| |---|---|---|---| ||||1,830,437| ||||(1,500)
(1,727,095)| ||||(1,728,595)| ||||101,842
-| ||||101,842
1,112,195| ||||1,214,037| All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 and 2024 is shown in note 22. The notes on pages 17 to 31 form an integral part of these financial statements. Page 14 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **(Registration number: 1693887) Balance Sheet as at 31 August 2025** |**Note**
**Fixed assets**
Tangible assets
15
**Current assets**
Debtors
16
Cash at bank and in hand
17
**Creditors: Amounts falling due within one year**
18
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
19
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
22
**Unrestricted income funds**
Unrestricted funds
**Total funds**
22|**2025**
**£**
1,509,147
490,156
360,842
850,998
(526,152)
324,846
1,833,993
(665,589)
1,168,404
1,505
1,166,899
1,168,404|**2024**
**£**
1,546,175
244,745
155,761| |---|---|---| |||400,506
(381,509)| |||18,997| |||1,565,172
(351,135)| |||1,214,037| |||-
1,214,037| |||1,214,037| 5/28/2026 The financial statements on pages 13 to 31 were approved by the Trustees, and authorised for issue on .................... and signed on their behalf by: Robert Worthington Trustee The notes on pages 17 to 31 form an integral part of these financial statements. Page 15 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** **Statement of Cash Flows for the Year Ended 31 August 2025** |**Note**
**Cash flows from operating activities**
Net cash (expenditure)/income
**Adjustments to cash flows from non-cash items**
Depreciation
7
Investment income
6
**Working capital adjustments**
(Increase)/decrease in debtors
16
Increase in creditors
18
Increase/(decrease) in deferred income
19
Net cash flows from operating activities
**Cash flows from investing activities**
Interest receivable and similar income
6
Purchase of tangible fixed assets
15
Net cash flows from investing activities
**Cash flows from financing activities**
Value of new loans obtained during the period
Repayment of loans and borrowings
18
Net cash flows from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 September
Cash and cash equivalents at 31 August|**2025**
**£**
(45,633)
52,095
(3,954)
2,508
(245,411)
41,078
101,592
(100,233)
3,954
(15,067)
(11,113)
700,000
(383,573)
316,427
205,081
155,761
360,842|**2024**
**£**
101,842
53,496
(1,309)| |---|---|---| |||154,029
1,806
18,578
(46,048)| |||128,365| |||1,309
(19,294)| |||(17,985)| |||-
(35,747)| |||(35,747)| |||74,633
81,128| |||155,761| All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 17 to 31 form an integral part of these financial statements. Page 16 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **1 Charity status** The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: Hood Manor Dartington Devon TQ9 6AB ## **2 Accounting policies** **Summary of significant accounting policies and key accounting estimates** The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. ## **Statement of compliance** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The date of transition to FRS 102 was 1 September 2015. ## **Basis of preparation** Rudolf Steiner School (South Devon) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Page 17 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **Going concern** The financial statements have been prepared on a going concern basis. The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. As at the date of the approval of the financial statements, the school is forecasting an operating surplus of £50k for 2025/26 with 222 pupils and the budget for 2026/27 anticipates an operating surplus in excess of £100k. The school has a capital fund with which to invest in capital expenditure without taking from operating cash and it holds options to reduce staffing and/or increase fees if the need arises. Therefore, Trustees are confident that the school continues to have adequate resources to continue in operational existence for the foreseeable future. ## **Judgements** Determination of whether there are indicators of impairment of the Charity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset. ## **Key sources of estimation uncertainty** Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. The carrying amount is £1,509,147 (2024 -£1,546,175). The recoverabilty of Bad debts is reviewed by management and a provision is made based on all the information available. The carrying amount is £390,840 (2024 -£374,742). ## **Income and endowments** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. ## _**Donations and legacies**_ Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Page 18 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## _**Deferred income**_ Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when: - School fees are invoiced in advance of the next school year. - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement. ## **Expenditure** All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. ## _**Raising funds**_ These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. ## _**Charitable activities**_ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## **Governance costs** These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees meetings and reimbursed expenses. ## **Taxation** The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. ## **Tangible fixed assets** Individual fixed assets costing £200.00 or more are initially recorded at cost. ## **Depreciation and amortisation** Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Page 19 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** **Asset class Depreciation method and rate** Freehold Interest in buildings 2% straight line basis Furniture and equipment 10% - 20% straight line basis ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## **Trade creditors** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. ## **Borrowings** Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. ## **Fund structure** Unrestricted income funds are general funds that are available for use at the Trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Page 20 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **Pensions and other post retirement obligations** The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. ## **3 Income from donations and legacies** |Donations and legacies;
Appeals and Donations
**4**
**Income from charitable activities**
Education
Letting of non-investment property
Other
**5**
**Activities for generating funds**
Events income;
Fundraising events|**Unrestricted**
**funds**
**General**
**£**
4,621
4,621|**Restricted**
**funds**
**£**
8,000
8,000
**Unrestricted**
**funds**
**General**
**£**
1,790,278
17,366
38,841
1,846,485
**Unrestricted**
**funds**
**General**
**£**
216
216|**Total**
**2025**
**£**
12,621
12,621
**Total**
**2025**
**£**
1,790,278
17,366
38,841
1,846,485
**Total**
**2025**
**£**
216
216|**Total**
**2024**
**£**
673| |---|---|---|---|---| |||||673| |||||**Total**
**2024**
**£**
1,763,980
16,938
47,537| |||||1,828,455| |||||**Total**
**2024**
**£**
-| |||||-| Page 21 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **6 Investment income** |Interest receivable and similar income;
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
3,954|**Total**
**2025**
**£**
3,954|**Total**
**2024**
**£**
1,309| |---|---|---|---| Page 22 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **7 Expenditure on raising funds** ## **a) Costs of trading activities** |**a) Costs of trading activities**||| |---|---|---| |**Note**
Fundraising trading costs;
Fundraising|**Total**
**2025**
**£**
-
-|**Total**
**2024**
**£**
1,500| |||1,500| ## **8 Expenditure on charitable activities** |**Note**
Education
Depreciation,
amortisation and other
similar costs
Staff costs
Governance costs
9|**Unrestricted**
**funds**
**General**
**£**
260,516
52,095
1,446,165
143,638
1,902,414|**Restricted**
**funds**
**£**
6,495
-
-
-
6,495|**Total**
**2025**
**£**
267,011
52,095
1,446,165
143,638
1,908,909|**Total**
**2024**
**£**
263,986
54,228
1,256,838
152,043| |---|---|---|---|---| |||||1,727,095| Page 23 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **9 Analysis of governance and support costs** ## **Governance costs** |Audit fees
Audit of the financial statements
Accountancy
Legal fees
Marketing and publicity
Other governance costs|**Unrestricted**
**funds**
**General**
**£**
9,360
4,200
71,045
-
59,033
143,638|**Total**
**2025**
**£**
9,360
4,200
71,045
-
59,033
143,638|**Total**
**2024**
**£**
7,982
3,276
62,625
1,779
76,381| |---|---|---|---| ||||152,043| ## **10 Net incoming/outgoing resources** Net (outgoing)/incoming resources for the year include: |Audit fees
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets
Release on parental deposits
Bad Debt provision movement|**2025**
**£**
9,360
-
52,095
(89,394)
15,557|**2024**
**£**
7,982
(300)
54,528
-
15,438| |---|---|---| ## **11 Trustees remuneration and expenses** No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Page 24 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **12 Staff costs** The aggregate payroll costs were as follows: |**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
Other staff costs|**2025**
**£**
1,290,484
120,728
33,596
1,357
1,446,165|**2024**
**£**
1,136,641
94,382
22,827
2,988| |---|---|---| |||1,256,838| The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: ||**2025**||**2024**|| |---|---|---|---|---| ||**No**||**No**|| |Charitable activities||52||55| The number of employees whose emoluments fell within the following bands was: **2025 No** £60,001 - £70,000 1 The total employee benefits of the key management personnel of the charity were £114,894 (2024 - £103,370). ## **13 Auditors' remuneration** |Audit of the financial statements
**Other fees to auditors**
All other non-audit services|**2025**
**£**
9,360
4,200|**2024**
**£**
7,982| |---|---|---| |||3,276| ## **14 Taxation** The charity is a registered charity and is therefore exempt from taxation. Page 25 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **15 Tangible fixed assets** |**Cost**
At 1 September 2024
Additions
At 31 August 2025
**Depreciation**
At 1 September 2024
Charge for the year
At 31 August 2025
**Net book value**
At 31 August 2025
At 31 August 2024
**16 Debtors**
Trade debtors
Prepayments
Other debtors
**17 Cash and cash equivalents**
Cash on hand
Cash at bank
Short-term deposits|**Land and**
**buildings**
**£**
2,270,839
13,500||**Furniture and**
**equipment**
**£**
243,530
1,567
245,097
228,857
7,050
235,907
9,190
14,673
**2025**
**£**
479,845
10,311
-
490,156
**2025**
**£**
3,446
356,565
831
360,842|**Furniture and**
**equipment**
**£**
243,530
1,567
245,097
228,857
7,050
235,907
9,190
14,673
**2025**
**£**
479,845
10,311
-
490,156
**2025**
**£**
3,446
356,565
831
360,842|**Total**
**£**
2,514,369
15,067
2,529,436
968,194
52,095
1,020,289
1,509,147
1,546,175
**2024**
**£**
232,462
7,800
4,483| |---|---|---|---|---|---| ||2,284,339||245,097||| ||739,337
45,045||228,857
7,050||| ||784,382||235,907||| ||1,499,957||9,190||| ||1,531,502||14,673||| ||||**2025**
**£**
479,845
10,311
-
490,156
**2025**
**£**
3,446
356,565
831
360,842||| ||||||244,745| ||||||**2024**
**£**
2,192
52,937
100,632| ||||||155,761| Page 26 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **18 Creditors: amounts falling due within one year** |**18 Creditors: amounts falling due within one year**||| |---|---|---| |Bank loans 1,2 and 3
Trade creditors
Other loans from Charitable source
Other taxation and social security
VAT Payable
Other creditors
Accruals
Deferred income|**2025**
**£**
38,892
99,771
-
4,824
116,285
5,348
13,220
247,812
526,152|**2024**
**£**
27,956
174,637
8,963
2,559
-
3,927
17,247
146,220| |||381,509| Creditors due within one year includes the following liabilities, on which security has been given by the charity: |Bank loan 3 (2024 Bank Loan 1)
Other Loan from Charitable Source
**19 Creditors: amounts falling due after one year**
Bank loans 1,2 and 3
Other loans from charitable source|**2025**
**£**
33,892
-
33,892
**2025**
**£**
665,589
-
665,589|**2024**
**£**
27,956
8,963| |---|---|---| |||36,919| |||**2024**
**£**
293,075
58,060| |||351,135| Included in the creditors are the following amounts due after more than five years: ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |After more than five years by instalments Bank loans 1,2 and 3 also Other||| |loans from charitable sources|510,022|187,763| Page 27 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **Bank loans and overdrafts after five years** Bank loans are a combination of 3 loans as follows: ## Bank loan 1 Was secured by a legal charge over the freehold business property; Hood Manor over 19 years with the final installment due July 2034. This loan was repaid early from the new bank loan (Bank loan 3), and legal charge satisfied. Interest charged at a fixed rate of 4.84% on the loan for the year amounted to £-2,130 due to an early settlement credit being received ( £14,556 - 2024). ## Bank loan 2 Is a unsecured government backed Covid Bounce for £50,000 over 10 years with the final installment due May 2030 . Interest is charged at a fixed rate of interest at 2.5% per annum, the amount charged for the year amounted to £790 (£921 - 2024). ## Bank loan 3 Is a new loan taken out in the year for £700,000 to consolidate by repaying Bank loan 1 and other loan , leaving monies to help with capital improvements and restructuring. This loan is secured by way of a Legal charge over the freehold business property Hood Manor, and repayable over 25 years with the final installment due December 2049. Interest charged at a rate of 2.75% above base rate on the loan amounted to £17,260 for the year plus an arrangement fee of £14,000. ## **Other loans after five years** ## Other loan from Charitable source Was secured by a legal charge over the freehold business property; Hood Manor. Although the final installment was not due May 2031, part of the new bank loan (Bank loan 3) was used to pay off the loan back early. Interest charged at a rate of 4% variable on the loan for the year amounted to £898 (£2,910 -2024). ## **20 Obligations under leases and hire purchase contracts** ## **Operating lease commitments** Total future minimum lease payments under non-cancellable operating leases are as follows: |**Other**
Within one year
Between one and five years|**2025**
**£**
2,924
2,924
5,848|**2024**
**£**
2,924
5,848| |---|---|---| |||8,772| Page 28 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **21 Pension and other schemes** ## **Defined contribution pension scheme** The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £33,596 (2024 - £22,827). ## **22 Funds** |**Unrestricted funds**
**_General_**
General fund
**Restricted funds**
Hardship Fund
Educational Resources Fund
School Trips Fund
**Total restricted funds**
**Total funds**
**Unrestricted funds**
**_General_**
General fund
**Restricted**
Arts and crafts
**Total funds**|**Balance at 1**
**September**
**2024**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Balance at 31**
**August 2025**
**£**
1,214,037
1,855,276
(1,902,414)
1,166,899
-
2,000
(2,000)
-
-
3,000
(1,495)
1,505
-
3,000
(3,000)
-
-
8,000
(6,495)
1,505
1,214,037
1,863,276
(1,908,909)
1,168,404
**Balance at 1**
**September**
**2023**
**£**
**Incoming**
**resources**
**£**
**Resources**
**expended**
**£**
**Transfers**
**£**
**Balance at**
**31 August**
**2024**
**£**
1,107,091
1,830,437
(1,728,595)
5,104
1,214,037
5,104
-
-
(5,104)
-
1,112,195
1,830,437
(1,728,595)
-
1,214,037|**Balance at 31**
**August 2025**
**£**
1,166,899
-
1,505
-|**Balance at 31**
**August 2025**
**£**
1,166,899
-
1,505
-| |---|---|---|---| ||||1,505| ||||1,168,404| ||||**Balance at**
**31 August**
**2024**
**£**
1,214,037
-| ||||1,214,037| Page 29 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** The specific purposes for which the funds are to be applied are as follows: Hardship Fund is for the purpose of providing short term supplemental financial support for school fees of Rudolf Steiner School South Devon students. Educational Resources Fund is for the purpose of purchasing educational resources that enrich the education of Rudolf Steiner School South Devon students. School Trips Fund is for the purpose of providing supplemental financial contributions for places on school trips for Rudolf Steiner School South Devon students. ## **23 Analysis of net assets between funds** |**23 Analysis of net assets between funds**|||| |---|---|---|---| |Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted**
**funds**
**General**
**£**
1,509,147
849,493
(526,152)
(665,589)
1,166,899|**Restricted**
**funds**
**£**
-
1,505
-
-
1,505
**Unrestricted**
**funds**
**General**
**£**
1,546,175
400,505
(381,508)
(351,135)
1,214,037|**Total funds at**
**31 August**
**2025**
**£**
1,509,147
850,998
(526,152)
(665,589)| ||||1,168,404| ||||**Total funds at**
**31 August**
**2024**
**£**
1,546,175
400,505
(381,508)
(351,135)| ||||1,214,037| Page 30 Docusign Envelope ID: D69784E2-44B7-8803-8171-26C8521DFA91 ## **Rudolf Steiner School (South Devon) Limited** ## **Notes to the Financial Statements for the Year Ended 31 August 2025** ## **24 Analysis of net funds** |Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt
Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net debt|**At 1**
**September**
**2024**
**£**
155,761
(37,457)
(351,135)
(232,831)
**At 1**
**September**
**2023**
**£**
81,128
(34,987)
(389,352)
(343,211)|**Financing cash**
**flows**
**£**
205,081
(1,435)
(314,454)
(110,808)
**Financing cash**
**flows**
**£**
74,633
(2,470)
38,217
110,380|**At 31 August**
**2025**
**£**
360,842
(38,892)
(665,589)| |---|---|---|---| ||||(343,639)| ||||**At 31 August**
**2024**
**£**
155,761
(37,457)
(351,135)| ||||(232,831)| ## **25 Related party transactions** During the year the charity made the following related party transactions: ## **School fees** Trustees Ben Whately and Alison Fisher have children attending the school as pupils. Invoices for parental contributions have been raised complying with the school's fee and financial assessment policy, resulting in Ben Whately receiving a discount in line with the policy. Outstanding fees are a combination of overdue fees and Autumn term invoices raised in advance and deferred in the accounts. At the balance sheet date the amount due from Rudolf Steiner School South Devon for Autumn School fees to a Trustee was £4,616 (2024 - £2,305 Rudolf Steiner School South Devon from Trustees ). Page 31