REGISTERED COMPANY NUMBER: 01930737 (England and Wales) REGISTERED CHARITY NUMBER: 292776
North London Rudolf Steiner School (A Company Limited by Guarantee)
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st August 2021
North London Rudolf Steiner School
Contents of the Financial Statements for the Year Ended 31st August 2021
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Report of the Trustees | 2 to | 3 |
| Independent Examiner's Report | 4 | |
| Statement of Financial Activities | 5 | |
| Statement of Financial Position | 6 | |
| Notes to the Financial Statements | 7 to | 12 |
North London Rudolf Steiner School
Reference and Administrative Details for the Year Ended 31st August 2021
Trustees Ms S M Cook Dr S J Peat Mrs A Richards Registered office The Campsbourne Baptist Church 1-3 The Campsbourne Hornsey London N8 7PN Registered company number 01930737 (England and Wales) Registered charity number 292776 Independent examiner Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
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North London Rudolf Steiner School
Report of the Trustees for the Year Ended 31st August 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st August 2021. The trustees have adopted the provisions of 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 2019).
Objectives and activities
The company's principal activity and objective continued to be that of the provision of education to children on the lines indicated by Dr Rudolf Steiner.
Due regard has been paid by the trustee's to the public benefit guidance published by the Charity Commission.
The main fund raising activities during the year were the operation of the school shop, a winter fair and a summer fair.
Achievement and performance
Charitable activities
During the year the company continued to operate an early years centre, comprising of one kindergarten class at Campsbourne Baptist Church.
Financial review
Financial position
The charity's state of affairs is as set on page 5. The charity showed a net increase in funds of £22,821. The funds held will be used to continue the charity into the future.
Principal funding sources
Aside from the income generated from educational services, the principal funding sources of the charity are from donations and various fund raising events.
Future plans
The trustees plan to promote the education of children on the lines indicated by Dr Rudolf Steiner for the foreseeable future and will continue with their aim of securing the necessary funding to do so.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 15th July 1985 and a registered charity. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed by the Articles of Association.
Recruitment and appointment of new trustees
The directors of the company are also trustees for the purposes of charity law. The trustees are not subject to retirement by rotation. The trustees are formally elected to the Board of Trustees at a full meeting of the trustees.
Induction and training of new trustees
Current trustees are already familiar with the practical work of the charity. Prior to the appointment as a new trustee, the candidate is met by the individual trustees and officers of the charity to ensure that he/she is fully aware of the requirements and statutory duties of a trustee and to ensure that the person is suitable to hold such an appointment.
Risk management
The trustees have discussed the major risks to which the charity is exposed and a formal risk register is being established, which will be updated at least annually. Systems and procedures have been established to mitigate the risks the charity faces. A strategic plan is being developed which will allow for the diversification of funding and activities to mitigate such risks should they occur. Internal control risks continue to be minimised by the implementation of procedures for overseeing and authorising major transactions and projects.
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North London Rudolf Steiner School
Report of the Trustees for the Year Ended 31st August 2021
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 17th May 2022 and signed on its behalf by:
Dr S J Peat - Trustee
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Independent Examiner's Report to the Trustees of North London Rudolf Steiner School
Independent examiner's report to the trustees of North London Rudolf Steiner School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st August 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
Date: .............................................
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North London Rudolf Steiner School
Statement of Financial Activities for the Year Ended 31st August 2021
| 2021 Unrestricted fund Notes £ Income and endowments from Donations and legacies 3 3,166 Charitable activities 6 Educational activities 175,956 Other trading activities 4 3,357 Investment income 5 1 Other income 7 3,548 Total 186,028 Expenditure on Raising funds 8 259 Charitable activities 9 Educational activities 162,948 Total 163,207 NET INCOME/(EXPENDITURE) 22,821 Reconciliation of funds Total funds brought forward 17,722 Total funds carried forward 40,543 |
2020 Total funds £ 2,457 129,821 4,241 8 12,691 149,218 508 148,723 149,231 (13) 17,735 17,722 |
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The notes form part of these financial statements
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North London Rudolf Steiner School
Statement of Financial Position 31st August 2021
| 2021 Unrestricted fund Notes £ Fixed assets Tangible assets 14 2,544 Current assets Cash at bank 58,950 Creditors Amounts falling due within one year 15 (20,951) Net current assets 37,999 Total assets less current liabilities 40,543 NET ASSETS 40,543 Funds 16 Unrestricted funds 40,543 Total funds 40,543 |
2020 Total funds £ 2,354 30,797 (15,429) 15,368 17,722 17,722 17,722 17,722 |
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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 17th May 2022 and were signed on its behalf by:
Dr S J Peat - Trustee
The notes form part of these financial statements
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North London Rudolf Steiner School
Notes to the Financial Statements for the Year Ended 31st August 2021
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value.Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income from fundraising events and the shop purchases.
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. Indirect costs are allocated on a usage basis.
Governance costs compromise of those costs associated with meeting the constitutional and statutory requirements of the charity.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings
- 25% reducing balance
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North London Rudolf Steiner School
Notes to the Financial Statements - continued for the Year Ended 31st August 2021
1. Accounting policies - continued
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds are available for the use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
3. Donations and legacies
| 2021 £ Donations 3,166 4. Other trading activities 2021 £ Fundraising events 3,357 5. Investment income 2021 £ Deposit account interest 1 6. Income from charitable activities 2021 Educational activities £ Fees receivable 134,358 State funding 41,598 175,956 |
2020 £ 2,457 2020 £ 4,241 2020 £ 8 2020 Total activities £ 79,054 50,767 129,821 |
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North London Rudolf Steiner School
Notes to the Financial Statements - continued for the Year Ended 31st August 2021
| 7. Other income 2021 £ Government furlough grants 3,548 8. Raising funds Other trading activities 2021 £ Fundraising events 259 9. Charitable activities costs Support Direct costs (see Costs note 10) £ £ Educational activities 153,670 9,278 10. Support costs General CommunicationGovernance Finance office and IT costs £ £ £ £ Educational activities 80 3,540 2,045 3,613 11. Net income/(expenditure) Net income/(expenditure) is stated after charging/(crediting): 2021 £ Depreciation - owned assets 847 |
2020 £ 12,691 2020 £ 508 Totals £ 162,948 |
2020 £ 12,691 |
2020 £ 12,691 |
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| 2020 £ 508 |
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| Totals £ 9,278 2020 £ 785 |
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| 2020 £ 785 |
12. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31st August 2021 nor for the year ended 31st August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st August 2021 nor for the year ended 31st August 2020.
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North London Rudolf Steiner School
Notes to the Financial Statements - continued for the Year Ended 31st August 2021
13. Staff costs
The average monthly number of employees during the year was as follows:
| Teaching staff Administrative staff |
2021 8 1 9 |
2020 7 1 |
|---|---|---|
| 8 |
No employees received emoluments in excess of £60,000.
14. Tangible fixed assets
| Cost At 1st September 2020 Additions At 31st August 2021 Depreciation At 1st September 2020 Charge for year At 31st August 2021 Net book value At 31st August 2021 At 31st August 2020 Creditors: amounts falling due within one year Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
2021 £ 8,699 839 8,280 3,133 20,951 |
Fixtures and fittings £ 44,543 1,037 45,580 42,189 847 43,036 2,544 2,354 2020 £ 11,050 850 306 3,223 15,429 |
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15. Creditors: amounts falling due within one year
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North London Rudolf Steiner School
Notes to the Financial Statements - continued for the Year Ended 31st August 2021
16. Movement in funds
| At 1/9/20 £ Unrestricted funds General fund 17,722 TOTAL FUNDS 17,722 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 186,028 TOTAL FUNDS 186,028 Comparatives for movement in funds At 1/9/19 £ Unrestricted funds General fund 17,735 TOTAL FUNDS 17,735 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 149,218 TOTAL FUNDS 149,218 |
Net movement At in funds 31/8/21 £ £ 22,821 40,543 22,821 40,543 Resources Movement expended in funds £ £ (163,207) 22,821 (163,207) 22,821 Net movement At in funds 31/8/20 £ £ (13) 17,722 (13) 17,722 Resources Movement expended in funds £ £ (149,231) (13) (149,231) (13) |
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North London Rudolf Steiner School
Notes to the Financial Statements - continued for the Year Ended 31st August 2021
17. Employee benefit obligations
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,607 (2020: £1,459)
18. Related party disclosures
There were no related party transactions for the year ended 31st August 2021.
19. Limited by guarantee
North London Rudolf Steiner School is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such an amount as may be required not exceeding £1 to the assets of the charitable company in the event of the company being wound up while he or she was a member, or within one year after he or she ceases to be a member.
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