REGISTERED COMPANY NUMBER: 00519230 {England and Walès) REGISTERED CHARrrY NUMBER.. 295104 Report ofthe Tnsste•s and Unaudited Financial Statements forthè Yèar ErKled 31 August 2023 Steinerwaldorf Schoots Fellowship Limited Safthlly & Cornpany Charterèd Actountants Irish Square Upper Denbigh Road St A5aph DenbwJhshi LL17 ORN
Steinerwaklorfschools Fellowship Limited Contents ofthe Financial Statèmènts forthe yearended 31 August2023 Pa9e RelenCe and Administrativ• Dotails Report ofthe Trustees 2 to 5 Independent Exam1rS Report Stat•mÈnt gf Financial Activilies Balance Sheet Cash Flow Statement Note5 to the Cash Flow Statemert 10 Notes to the FinarKial Statements 11 to 19 Detsilèd Statement of Financial Activibes 20 to 21
Ste1rWa1dtsrf Seh¢)ols F•llowship Limited Reference and Adminlstratbve i)etsils forthe yearen(led 31 Au9USt 2023 TRUSTEES NPBrett C C(xJrt M A De Winter P A Georghiades EFTtsF S WilsOr DFBall E S Jarre5 B WAAmokY {aF¥)ointed 22161rJ) COMPANY sECRARy F Rell REGISTERED OFFICE Salisbury & Co Irish Square St Asaph Denbighshi LL17 ORN REGISTERED COMPANY NUMBER Crf)519230 {England and Wa*) REGISTERED CHARrrY NUMBER 2951()4 INDEPENDENT EX4MINER Salisbjry & Cornparry Charterèd ArA)ufttsnts Irish Square Upper Denbigh Road St Asaph DenbKJhshire LL17 ORN HSBC Bank F4c 23r24 Paddiwon H<)use Fe$¥81 Pla¢ 83singstoke Hampshire RG217U
Stsinerwaldorf Schools Fellowship Limiled Report ofthe Trustees forthe yearended 31 August 2023 The trustees who ats also director5 of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the drrty for Ihe year ended 31 August 2023. The twstees have adopted the prowsions of Accounting and Reporting by Charibes". Stslement of Reccrfnmended Plac appfK3b5e to charibes pparing their accounts in the Finanoal ReFth"ng Standard aPIcable in tt)e UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTivmES Objectives and aims Objects of the charity are to proftTh)te Steiner Waklorf edu¢2tion in the UK and ]lar]d. to hdp and adwse schcds and earfy year5 5etlings and represent Steinerwaldorf EdUti in the UK natvjially and intemationally. Objectives. strategies and activities The charity SUPFMyts Steiner Wal¢Jorf scho$ and e8ty years selbngs in proMdirvJ the hiqhest quafty of education based on an anthroposophiGg1 urderstsnding of thild devek)pmenL ti ctwrdinates and prowdes teacher development, curriculum research. quality development and the prowsion of dassrogm and organisational a¢Jvice and guidan. It 5UPPOrts governan and leadetship through the provis of trainiro and athce and adv(teS for Steiner Waldorf Educatton GovefftrnenL ts ageles. Parfiarnent and the widereducathThl Yrtd. Publi¢ benefft The trustees confim that they havè e0rnpl the requryernents of seiknn 4 of the Charitses Act 2011 to have due gard to the publi¢ benefft guidan published bylhe Charity Commission for EngL4nd and Wales. Page 2
steinerWabJorfSchools Fellowship rnited for the year ended 31 August 2023 STRATEGIC REPORT Achievement and perfomwnce Charitable activtlie5 Our work has continued to focus primarily on supwxting siKX)Is to: o Meet good qualty edUtiOn and oryJani%ab"onal standards". o Irnprove govemance and fjnanoal ManageTht.. o Pass sclK)l inspectK)ns." o Support school marf(etirKJ thr(yJgh Ixeatiro 8 new cxknrmyary brand to signal changes Sin 2018119 and support likjIng a stroroer repuiation for Ste1r Wald<xfeducalion. OUT serwee to schools has induded.. o Free access to the Art of Teacher DwJrtal Planning TOCA. o Subsidised CPD programme of training and webinars for Jeadership teams. staff anL1 trustees. o Subsidi5ed extemal training to support literacy and maths teathtTrJ Isounds Write and Maths for Love}. o Regular neork meets.ngs for s¢MxA teader5hip and management teams, tnIst. DSLS. SENDcos, DNersty arKI Equality Leads. o Helpline support for s(thool leaders. teacfws and InJ5tees. Prcgress in inspections ha5 ¢))nlinued overall so that today. 0 80% of schooL8 in Engknd are tsted"G(XMI" wth"(XtstandiThJ" asF£cts o Ml schools rneet"safeguarding" requirements and thè Inderent Schcd Standards o The are no"inadequate" schcols." and o The narrative of Ofsted's insFeCtN)n reFXrt is rKY4V LXYFi5tenty atout oursdYxAs. This contrasts with the 'Cture in 2019 vthèn 75% of schooLs had failed indew)dent standards Imainty safeguardingl. onty 25% had trRen judged -w and Ihree srthcKk W been dc6&J for po( safeguarding practi and leadershipl. Three schnls have dosed in the last 18 monlhs as a $tt of tx)y finarA aJWh other SChcxS 8re growing in numbers. There is a key ¢orrelation belween the effectiven of managerrenl and govemance and financial stsbilty. Early Years OUT Eady Years cTrordin8tor for 25 years. Jami NKd. retired in October TJ. AItIKJugh this was a ths to the stsff team. she was succeeded by Sam Greshoff who has worked Janni over a a number of years and is herseff highly experienced. The wod¢ to suprxjrt the IndepErKlent lthnder9artS and Ea¥ty Years pradrboners in schools has therefore been uninterrupted. Janni. remains a consuliant available for proie¢X and supports the EG as neèdèd. This positive transitson was a result of gLxJd preparation and sUcc)n anning. Leadership Development Developing leadership skills is KYentfie(l as an urgent and imwtant need. In expbn'ng wtions for training and supr we h8ve subsidised W school aderS to tske part in The Big Leadership Advenbjre and several teachers and middle leaders to attend the two day Big 8 trainiThJ both run by BWJ Edu(3tion. We are expbring opb.ons for a Waldtsrf leadership development training prDgramme aime(l at deveh)piThJ Waklorftea(8rs to bme schcK*l leaders. Tea¢h¢r Training Accreditatson Two new teacher trdining courses have Succe1 becMe accredited thrtyJgh our new acLr<iation prSs. 111 The PG Dip in Waldorf Education and CreatNe Pedagogies IBath Spa Untversty and Waldorf Leaming Foundation) for teachers already with QTS- and 12} PG Dip in Waldorf Education PGCEIQTS {UnN• of Buthngham and York Steiner Sch}. Raising the profile of Waldorf edu¢ation - external relations and rtrbranding Our work to raise the profile of Waklorf education by workirKJ with extemal agencies has increased this year. As well as meeting regulady wlh Otsted an¢J the Deparlrnent of Educat¥)n we have de¥0 links wrth extemal e(tUCAtional groups. Staff trom the EG represent Waldorf UK at the Deeper Learni UK Network. Rethinknng Assessment and RethIrnng Leadership. Kath Bransby is also an invited athstsr th Rethinknro Curriculum whith is working wth mainstream schools on ojrriculum Wn. We 8re lkI1j a aCadern presen through the wort of Dr Martyn Rawson and Kath Bransby. SWSF has adopted a trading name - W8kYorf UK- and devel(wl a new website. presenting Waldorf edu(xb"on in more contemporary terms and drawing a line under the failings of 2019. Thi8 frèsh looK use of contemporary language together the p05rtwe narrative of school devek)pment and (knge is suppo"n9 our work to build exlemal networks poltbcally and w5thin education ryjiiry makers.
Steiner Waldorfschools Fellowship mited Report ofth• TTUSt•es forthe year ended 31 AugLtst 2023 STRATEGIC REPORT Financial review Financial position The organisation's expenditure has remained bwthin tyjdget again year showirg a stsbilisètion sin( the 2019 criss. Part of our fvn¢Jing continues to come through grant funding and donatK>ns as school wntributions altsne do not rneet costs. Prior to 2019 the largest scho(As subsidised the rest of the school movement bui the loss of 3 Df those 5 schools and the ¢losure of 4 smaller schools sin(E has reduc£d inLYJrre o)nsiderabty atthough the work required and the servi Provided has irFcxeased. Our aim is that by supporb.ng Ihe development of new tead)er trainin9, leadership and govemance, including better financaal managemenL the need for CPD SUppt from Waldorf UK wll gradually ce. Our extemal work and profite rdisir¥J wll support efforts to attrd¢# more pupils and become rnore financially stsble and able to support the full o)sts of the OTganisation in time. We are s0 expknring the possibilty of developing addibonal income streams to further sub5tdise ts work with sch L•gaey We were vèry grdteful to re in this finanaal year a kgacy gfft from the estate of Elizabeth Conor mackene. Her generws ght wll be tyutyal in supporb.ro the devebpmentwork we are planning over the next years. Inveslment policy and ¢)bjectives Under the memorandum and artides of asscoation the chanty has the power to make any investments the thjstees wish. The tstee$, having regard to the IiquKIty requirements of ¢ts operations and t(> the reserves policy. have (>WTated a policy of keeping av&lae fvnds in Inte5t bearing deFX)sf( attounts %thid) pay a tste of interesL where possible, in excess of the rale of inflation. Policy on reserves The trJrrent policy of the trustees is to maintsin free reserves equal to 3 11kthS wnniro costs. which would be approxirnately £65.000, within the arA)unts to rreet o)ntiroenoes. Free reseNes at the year end date amounted to £72.749. which the trustees consider is satisfartory given fvture pLans. Plans for futu period5 Activities Pnned lo achieve To continue to improve suprth forschools in all aspecls of Iheirdevek)pmenL A 3 yearslrategic plan is in development. Going concern r the years the Fellowship has strn reseNes and put in pl financial pknning to ensure we are a going coneem. The trusteé body ha5 been reform to enable the Work to go forward Vth a stronger management STRUCTURE. GOVERNANCE AND MANAGEMEI Nature of governing document The charity is controlled by its goveming doDJmen( a deed of tnJsL and CortituteS a limited o)mpany, limited by guarantee. as (Jefineo ty the COMpanS AU 2006. Steiner Waldorf Scho¥ Fellowship mrted is a company limrted by guaranlee. L¥)vem&l by ts NmorJndum and arbdes tsf assotsation. It IS Tegistered rtharity wrth Ihe Charity Commission. Rèeruitmènt and appointrnent of Dew trusttss The cwnril consists of a MamuM of nine indrwdual wuncal rrthibers etected OrapInted as follows.. . a maximum of fve persons elected by s<kn Memters: and [HaMUM of four other persons leach of whom shwhj have appropriate urKler5tsndiTrJ of the Stn&T ethosl appointed by the Counal. Each Counc41 Member may hold otTrce Yea lor rf the Sthoo] Members so deodel, but shall be digible for r&election. Oryanisational 5trurture As the organisation has stabilised folknn9 li reStryth and Ihe new work wth schools has taken shape, Trustees havè erned to meeting three times a year in line vthh the organisation's artides of assooation. The Executive Group continue to meet once a week with TnJstees having aUsS to minutes. The E¥etyJtThie Director speaks frequenJy with the Ch&r of Trustees and informs frustees of CKa)Jrring isgtss a5 appropriate. The schcds and kindergartens partial fund the ¢harty through fee contr"bub"ons. Other in(x)me is ihrough donations, u)nferen. online trainirvJ PrO$10n and graftt funding. Induction and training of newtrustees New trustees are pairtd with an existing Itee and mentored until they fed comfortable in iheir new role. A stsff and members handbcxjk is gwen to all trustees detailwo the OpeIng pr(ureS ofthe chatity. Page 4
Rewyt of the Trusfres forthe ytarertded 31 Augilst 2023 SalariES ase set by Itee$. The overto cJJst of TeYnUWWY)n ts ts of th2 owLsan 15 £IS2,448. a slight ffjcrease on Iyear of £4.531. MOr risks and management of those risks trwees have a riyc tnawernert 5upw rnmKr6es an $))9 ol the ch&5ry may face,. the Mercury Provident Pension Fund Deficil s rte¢ to tie %iarqTr. Membership Sutic)nS are cw man aTrJ can lIlu aCtOrj to of ts 5chcx)6. ths s a KitWla1 instruments The clwTty athIe$ exkw i 10 a rMJrnW of financial r&s Lye. ca%h rtsk arKt IKJukYity risk The principles on the of finarri dwNatives rnaroge tf rsk& Tre clwty skns rot LLse (rwNe finano Insvufflents tor spe¢uiats¥e putPC6e. Cash flow r¢sk The cbarrtys amities ex rt # fi5 (é trety cwery exchaTh% i&es a(KS interest rtte Cre(lit risk The csedti rsk amitxnatAe ty) ts ¥aLk reNatIes. Tre amourns preserted in the b&ar4ce sheet are ich. on prevv)LS exDetErce. G ot aredUc n me rec(weraDty of tre c& t. The CW ha8 m sIenI Coentl)n of (ye(* eX[(SJ spreal a afge wmtRr of COterpareS amd customer& Liquidity risk ift or¢ei 10 manwn IiquidKy rts ensure haids are avarfabÈ lot oThJory operaDor6 fuuKe devdopmenis, the dwity a rnTxwre of and stffi-twm 4Jebl frwKe. direttors. on 23 May 2tr24 and svan1 on the ljoarrfs ty.
Indeperkdent Examinerfs Report to the Trustees of
Steiner Waldorf Schools Fellowship
Independent examinerfs report to the trustees of Steinerwaldorf Schools Fellowship knmited fthe CompanVI
I report to the chalY tnjstees on my examination ofthe accosjnts ol the Company for Ihe year end1 31 August 2023.
Responsibilities and basis of report
the charitys tNstee5 of the Company {aTrJ also rts Oir8ckn5 for the wrwjses
Steinerwaldorf Schools Fellowship Limtted Statement of Financial Activibes forthe ywended 31 August2023 2023 Total funds 2022 Total fvnds Unresth(knl Restricted fvnd fvnds Notes INCOME AND ENDOWMEMfs FROM Donations and legaryes 449,791 449,791 287.543 Charitable actrvities Chariiable actNthes 126.682 126.682 Investment income 970 970 219 Totsl 577.443 577.443 322,S98 EXpENDuRE ON Raising funds 46.601 25.476 72.OTT 37,020 Charitsblè activitiès Charitable activitles Governan costs 236.715 236.715 3.569 219.847 5.950 Total 286,885 25,476 312,361 262.817 NET INCOMEIIEXPENDrruREI Other recognised gatnslllossesl Actuarial gainslllossesl on defined benefft schemes 1.558 125.4761 265,082 59,781 1143.774) 1143,7741 Net movement in funds 146.784 125.4761 121,308 59,781 RECONCILIATION OF FUNDS Totsi fund5 brought forward 72,749 25,476 98.225 TOTAL FUNDS CARRIED FORWARD 219,533 219.533 98,225 The notes fomi part ofthese finan(X ststernents Page 7
31August 2023 2023 Toi ds 2022 Tot lunds InwgIb assets Tantle assets 40.317 712 40,317 712 950 4L029 41.029 IRRENT ASSETS C*biors Cash at bal 115.798 427.966 115,798 427,966 25.295 278.988 543,764 543,764 CREDITORS Amounts Or yeer {.260) 161.26DI 123.5361 2$.747 523.533 573. 281.697 PENStON UABYLrrY [3)4.)) (3M.cxxsI 11814T21 219.533 219,533 98.225 FUNDS UnTestrK¢ed frmts 16 219.511 72,749 25,476 TOTAL FUNDS 219,533 98,22S ended 31 JguSt 2023. The mernters Ve rNX reqLll 0party 10 aLMYit of #atefftts year en The trustee5 aCkryedge their respMst5ifries tr s2# on rts behattty. TrLZStee
Steinerwaldorf S¢ht)ols Fellowship Limited forthe yearended 31 August 2023 2023 2022 Cash ftows from optrating athitses Cash generated frorn operations Interest P8id 199.434 14891 38,815 Net cash provided by operating aetmbes 198.945 38.815 Cash flows from investing activities Purchase of intangible ed assets Purchase of tangible fixed ats Interest recewed 150,9371 11.1881 219 970 Net cash used in investiThJ activibes {49,9671 19691 Change in ¢ash and ea5h equNalents in the reporting period Cash and eash equlvents at the beginning of the reporting period 148.978 37,846 278.988 241.142 Cash and cash equivalents atthè Ènd of the reporting period 427,966 278.988 Page 9
SteinerWaldorfS¢hools Fellowship Limited forthe year tnded 31 August 2023 RECONCIUAMON OF INCOME TO NET CASH FLOW FROM OPEFiATING ACTMTIES 2023 2022 Net incorne forthe reporting period (as perthe Ststement of FITwKial Activibesl Adjustments for. Depreciation charge5 Interest reiVed Interest paid Pension obligation payments Ilncxeaseydecrease in debtLK Incsease in trAitors 265,082 59,781 10.858 1970} 238 12191 {23,2461 {),5031 37,724 123,0671 2,038 199.434 38,815 ANALYSIS OF CHANGES IN NET FUNDS At 1P3r22 Cash flow Al 3118123 Net ¢ash Cash at bank 278.988 148,978 427,966 278,988 148.978 427,966 Totsl 278,988 148,978 427.966 The notes form part of Jhese finan(Jal stalements PwJe10
Steiner Waklorf Sthools Fellowshlp mited for the year ended 31 August 2023 ACCOUNTING POLICIES Basis of pr•parin9 the financial statements The finaniyal ststements of the chartlable )mpanY. which is a public benefit enty under FRS 102. have been prepaTed in accordance with the Charities SORP IFRS 1021 'Attounting and RepLxb"ng by Charibes.. Ststement of Recommended Practice applic2bie to chariknes P•llng their awunts in a¢rAYdan with the Finanaal Reporting Slandard applicabb in the UK and Republic of Iland IFRS 1021 leffecbve 1 January 20191,. Finanaal Reporting Standard 102 Tr Finanoa] ReporbrrtJ Stsndard aprlicable in the UK and Reput1¢ of Ireland, aThJ the Compan$ Ad 2CK)6. The financia sl2tements have been prepared under thè historicA cost convention. Going concern The tNstees consider that there are no material unrtaInties about the tharitys ablity to continue as ¥ going con¢em nor any sn[ficant areas of unfjertainty that affect the caryng value of assets held by the cknity. Income AJI income is recognised in Ihe Stalement of Finarvial Acbwbes On the chatity has entimÈftt to the fvnds, it is probable that the income will te receNed and thè aNKxJrrti%n measured relrably. Donations and legacies Donations are recognised when ts tharity has notified in ting of both Ihe amounl and setuement dale. In the event that a donation is SUbCl tr) carOnS that requi a of perfomance by the charity befo the charity is entiued to the fvnds. the income is deferred and nol rewgnised unb"l erther those ¢gnditions are fully met. or the fulfilment of those eA)ndilÈDns is whdty wiJ)in the tsjntrd of the charity and rt ts probable that these COndonS will LE futfilkd in the "n9 n(l. L3¢Y grfts are reccJnised on 2 se by case basis folknwng the grant of probatè whèn the administratorlexecutor for the estate has <x)mmuni¢2ted in vrtibNJ both the amount and setfjement date. In the event that thè grft is in the forn of an asset other than (zsh or a financial asset traded on a recconised stock exchange. reCogN"0n is subject to the value of the grft being reliably measurabte with a degree of reasonable accuracy and the bde to the asset having been trarnsferred to Ihe dharriy. Grants receivable Grants are renised when the drIty has an enliuement to the fijnds and any condrbons linked to the grants have been meL Where perfomiance ConditKS are atta<thd to the grant an¢J are yèt to be met. the income is recognised as a liabilty arKI induded on the batar sheei as dèferray inc£ffne to be released. Investmènt income DivideNds a recdcJnLsed once the dNwJend has teen dedar&J and notifi¢ati"on has been Teceived of the diwdend due. Expenditure Liabilities a recoJnised as expenditure as scM)n as the is a legal or constwcbve otiligats.on commiiting the arty to that expendtture. it is probab that a transfer of enOMiC beneffts WJ bè required in setuement and the amount of the obligatiw ¢zn te measured reliabty. EXd[lure is aCUnted for tsn an ac(nls basis and has been dassffjied under headings that aggregate all (x)st related to the category. Wherè (Xjsts cannot be directly atthbUt to particular headings Ihey have teen alkxxted to altreS on a basis consistent wth the use of resource. with ntral staff I)Sts alkxxted on ihe ba&s of a.me 4EnL and depreoation charges 8lk)c3ted on the rban of the asseys use. Other support Costs are allocated based on the spread ofstaff cJ)sts. char[tab aetivities Charitable expenditure comprises those costs inojrred by the dwrTty in the delNery of its artiwties and services for its benefiryaries. It indudes both costs that can be alkxotefl ¢Jirecty to suth actiirities and those costs of an indit nature necessary to support trem. Support costs Support costs indude cenlyal funcbons and have been alted to 8cbwty cx)st (ategories on a basis consistent with the use of resources, for example. allOLZti property cxisis by floor areas, or per capita. stsff ctssts by the rne spent and other costs by th•"r Us. Governance costs These indude the costs attributat to Ihe chartys (nlance vKth cCStItUtional and Statutory Tequirements, )cluding audit, strategic managerrent and knjstees's mtiros and rwmbursed expenses. Development costs Intèngible assets are rneasU at cost less arrthisakn and any x]mUlated impairnent losses. Page11 contnued...
Steinerwaldorfschools Fellowship Limited Notes tothe Flnanclal Statements. ¢ontinu•d for the year ended 31 ALEgust 2023 ACCOUNnNG POLICIES- ¢ontinued Development costs AMO"sa.0n ts tharged from when the 855et is (jht into w. overlhe fdkm.ng years.. Website and rebranding Curriculum Planning Plaffom Spèak Writè Read rèadér5 S years 5 years 3 years Tangible fixed assets Depreciation is provided at the folkAw"ng annual rates in cder to vKite off each asset over its esti[Tted useful rrfe. Furntijre and Equipment 33% (x)st 8nd 12% on cx)5t Taxation The charity is exempt from corporation tsx on its ¢tharilatk 8(XMties. Fund accounting Unrestricted funds (xn bè used in acc¥thn wilh Ihe charitsble objectives atttE dIs¢tiOn of the tnjstees. Restricted funds can onty be used for parlKxJlar Testricted purposes within the objects of the charity. Restrictions arise when specffjed by the donor orwhen funds are raised for particular restricted purposes. Further expL4r)alion of lh8 nature and wrFX)se of fund ks DidLvJed rn the notes to the financial ststements. TrndÈ debtors Trade debtors are arnounts due oJstcners fc¢ rChalise sold (xservices rform& in the 0Inary course of busirEss. Trade debtors are recognised initiaty at Ihe transac*on pri, a provision for the impairment of trade debtors is established when the is obje¢tive der that the tharity will not be ae to ctsIlect all amounts due according to the original tem ofthe TeceNabks. Cash and cash equivalents Cash and cash equivalents comprise on hand aThJ Lzll ¢JepXJts, and Olher short-temi highly Ik]u investrnents that aTe readity CLwtitle to a known amount of cash aThJ are subject to an insigntficant risk of change in value. Trade Creditors Trade credf(ors are obligations to pay forgwjs tyservKes thal havè aUIr• in the lydinary course of business from suppliers. Accounts paydt4e are dassffied as current liabilib.es rf the chartty does not have an Un{x)nd1)n3l right at the end of the portsn9 peric#Y. to defer 5etdement of the rxeditor for at least tsvelve months after the repo"ng date. If there is an unCdI110 rKJht to defer setement fot at Jeast twe8 months tter thè reptsffjng date. they are presented as non-ojrrent lh3bi1es. Trade ueditors are recognised inth.aliy at the transadK)n pri. Borrowngs Interest-bearing borrobmngs are inibalty recortled atfairvalue. net of transaction costs. lntest-be3ring borrowng5 are 5ubwJuently camed at aM0"se COSL wth IhÈ d[fferen beNveen the proceeds. net of transaction costs. and Ihe arTKMJnt due on redemption being rethgnised as a Chary to the StsteTnent of Interest expense is recognis8d on Ihe basis of the effective interest metlKxl arKI is induded in interest payable and simiIar charges. BorrovMrus are dassffjied as ojrrent riabilth.es unless Ihe charity has an uncthjCa1 right to défer serfement of the liabilty for at $t Nvefve months after the reporbro date. Pension costs and other post-retirement benefits The charty belongs to the Mercury Provident Pension sdMe, whkth is a defined tenefft scheme aThJ a ts)Ilecbve scheme for a numLw of employers. Page 12 tinued...
Steinerwaklorf Schools FellowEhip mited Not•s to thè Financial Statern. continued for the year ended 31 August 2023 ACCOUNTING POUCIES- continuèd Pènsion Costs arKI other postqetiremènt bÈnÈfits BÈeause of the Lqrge number of partiLypth"ng empbyers and the variety of finan¢ial pOrting dates. it has ntst been deèmed practicable or finan0a1 wat to prThYuce the infom)ation nec£ssary to allow participats.ng employets to comply fvlty wth the wuirements of FRS102. The pension costs charg&Y in the finanaal ststements therefore represent the wntiibutions payable by the tharity ¢Juring the year up until transitional adjustment has been made in 2017 and 2019 annual a(xx>unts restating o)mparatNes by accounting for Steiner waldo Scho&s Fellowship's share of the defiut as a cost and liabilty- In fijture all annual contributions will e¢&se the defictt up until the next lrieftn artuarial valualion dLte as at December 2024. where the corrected value movement be eXEed irwne in fftHnoal ststements b) bring the liabilty in line th the latest valuation_ The latest triennKI1 actuari valuation as at 29 De(xnber 2021 a schemè défitit of £12.9 million. Pension scheme assets are valued at fair value at the valuation date. Pension scheme liabilthes are measured on an actuarial bags using the projected unf£ methcml and a discojnted to Ihe&r present value. The scheme trustees and participatiryJ employers de(xl&l tr> d05e the scheme tr) further benefit acc¥ual on 31 De¢ember 2008. and fubJre contributrffi tevels wll LE Lzk)Jlated so as to eliminate the scherne defiat over an agreed pericKI. To repla¢ tris sche the charrty has Set up a defined contribution pensi scheme for whith all staff are eligible. The penSn costs tharyed in the finanaal statements represent Ihe ntribUtionS payable by the charity during the year. Financial instruments Financial assets and finanual Ik3bilrbes are recojnised when the dwrity bgxjrres a paty to the (xntracttjal promsions of the instrument. Financtal liabijfaes and eqLTrty instyments are dassffj LI{ling to the Substan of Ihè contractsjal arrangements ente into. An equity instrurrent is any contrad that edereS a residual interest in the assets of the rknrity after deducting all of tls liabilities. Re¢ognttion and mèasurement AJI financial tssets and jiebil"eS are initialty measured at transath.on linduding transaction o)5ts1, expt for those finanoal assets dassffied as at f&r value through profit or k6s. whth are initially measured at fatr value (which is normalty the transaction prre exduding transa(*on rAl. unless the atrangerHent constitutes a financing transaction. If an arrangement (x)nstiiutes a finanong transa¢titsn. the financtal asset or ffnan(xal liability is measured at the present value of tt)e future payTrents discounted at a market rate of interest ftsr a similar debt instnjment. Finanaal assets and liabilities are only offset in the ststement of finarKial poyts.on when. and only when there exists a galty enforceablè right to set off the recognised #rnounts and the charity intends either to setye on net basis. or to realise the asset and Sèlue the liabilty simuh2neously. Financial assets are dereexNJnised when and onty al the rights to the tssh flows from the financiql asset eX[Y or are setued, bl the thaiity translers to arK)ther paty substsntially all ofthe risks and rewards of ownètship of the finanual asseL or Gl the charity. desprte having ret2ined sorne. but not all, signoScant risks and reward5 of ownershy, has trdnsferred contrd of a&%et to another paty. Financial liabil$ arè derecvJnised cffily vthen the rtJlbJabon in the o)ntract is discharged, CAnlled or expires. Page13 o)ninued...
Steinerwaldorf Schools Fello*hip Limited Notes to the Finan¢ial Statements. wrtinued for the year ended 31 August 2023 DONATIONS AND LEGACIES 2023 2022 Donations Legaries Grants Contributions from schLK)ts 5.895 269.958 29.392 70.000 19.600 168,551 173,938 449.791 287.543 Grants receiv&Y, induded in the above. are as f(AkMs: 2023 2022 Anthroposophi(31 Sety in Great Britain Other grants 10.000 9.600 19,600 INVESTMENT INCOME 2023 2022 D8posit ac(x)unt interest 970 219 INCOME FROM CHARITABLE ACTv4mES 2023 Ch8ritab actsvitses 2022 Total activities Art ol Teaching Training for SlS Website Adverbsing Publications conte ènd athsoryfees Other incx)me 18.370 40.399 396 11,817 6,595 49.105 24.506 500 1,540 126.682 34.836 RAISING FUNDS Othertrading activitses 2023 2022 Publications and Confe Training for Sthools Art ofTeaching 18.273 48.930 4.874 3,916 33,104 72,077 37.020 Page 14 contin¢Jed...
SteinerWaldorfS¢hools Fellowship mited Notes to the Finaneial Stattments. continued for the year ended 31 August 2023 EXPENDrruRE ON CHARITABLE ACTivmES Suprort sts (see note 71 charitab acbvibes Govemance o)sts 236.715 3.569 240.284 SUPPORT COSTS Governan Management Finar Totals Charitable athityes Governan costs 235,923 496 792 236.715 3.569 3,073 236.419 792 3,073 240,284 NET INCOMEIIEXPENDrtUR Net in(x)rnellexpenditurel is stated after chargin(credn9l. 2023 2022 Auditors, remuneratK)n Depwation. owned assets Devek>pment costs amortssation 3,073 238 10.620 5.950 238 TRUSTEES. REMUNERATION AND BENEFrrs There were no tnjstees. remunetatm or other teneffts for the year er11 31 August 2023 nor for the year ended 31 August 2022. Trustees. expens•s Trustees. expenses Of £496 were pa*1 durirrfJ the year12022: Nil}. 10. STAFF COSTS 2023 2022 Wages and salaries Social secunty tt)sts Other pensw)n costs 140.6n 10.535 4.313 138,143 10.422 3.883 155,525 152,448 The averdge monthty numter ofempw durir¥J the yearwas as 2023 2022 Exec3Jtive Director Educ2tion Ccpordinattr ISdKxJlsl Educats"on C<x)rdinatix (Earty Years) No employees receNed emdurn in excess 0fth).0. Page 15 continued...
Steinerwaldorf khools F•llowship L¢mited Notès to thè Finala1 Statements. e¢*ntinued forthe year ended 31 August 2023 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcTInEs Unréstri¢#&Y fund Restricted nds Total funds INCOME AND ENDOWMENTS FROM Donations and legau8s 277.943 287,543 Charitable activilies Charitable acbwbes 34,836 Investment income 219 219 Total 312.998 322.598 EXPENDITURE ON Raising funds 25.617 11,403 37,020 Charitablè activities ChaThtable actsvitses Govemance costs 185.522 5.950 34.325 219,847 5,950 Total 217.089 45.728 262.81Y NET INCOMEIIEXPENDtTURE) 95.9 {36.1281 59,781 RECONCILIATtON OF FUNDS Totrl funds brwght foThvard 123.1601 61.604 38.444 TOTAL FUNDS CARRIED FORWARD 72.749 25.476 98.225 11 INTANGIBLE FIXED ASSErs Dev¢lopment GOST Additions 50.937 AMORTISATION Charge foryear 10,620 BOOK VALUE At 31 ALJgust 2023 40,317 At 31 August 2022 Page 16 ntinued...
Stèinerwaldorf Schools Fellowship Limiied Notes to the Financial Staterl-ntinUed for the year ended 31 August 2023 13. TANGIBLE FIXED ASSErs Fumiture and Equipment COST At 1 September 2022 and 31 August 2023 11.294 DEPRECIATION At 1 September 2022 Charge for ye8r 10,344 238 At 31 August 2023 10,582 NET BOOK VALUE At 31 Ajjgust 2023 712 At 31 August 2022 950 14. DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Trade dÈbtrJrs Prepayrnents aryj acuued in¢ome 101.982 13.816 20,135 5.160 115,798 25,295 15. CREDITORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 2023 2022 Ttsde creditors Soaal security and othertaxes Deferred inc 26.757 9,098 13.099 12.306 9,441 6.087 8,008 61,260 23.536 1& MOVEME1 IN FUNDS Net movement in funds At 1P3r22 3118123 Unrèstrieted funds Géneral fijnd r2,749 146.784 219,533 Restricted fun(ts Canterbury Trustee 25,476 125,476} TOTAL FUNDS 121.308 219.533 P*Je 17 nb"nued...
St•inerWaldorf Schools F•llowship mited Notès to thè Financial StwMnts. etintinued forthe year erKled 31 August 2023 16. MOVEMENT IN FUNDS- continued Net movement in funds. induded in the atrw)ve are as Idk71S: Incomir¥J Resour expend• Gains and losses Movement in fvnds Unrèstrictod furKIs General furKI 577,443 1286,8851 1143,7741 146,784 Restrictèd funds Canterbury Trustee 125.4761 12S,4761 TOTAL FUNDS 1312,3611 1143,7741 121,308 Cornparntives for movement in funds Net moverrent in furKIs At 3118122 At 119r21 Unrestricted ftjnds General fund {23.1601 95.909 72.749 Restricted frjnds Drayton Manor Anthroposophical knety Canterbury Twstee 34.325 2.800 24,479 134.3251 12,8001 997 25,476 61.604 136.1281 25,476 TOTAL FUNDS 59,781 98,225 Comparativ8 net movement in funds. iNJuded in above are as fdkTr¥s: InrnIng ReSoUS Movemènt in fuThJs Unrestricted funds General fund 312,998 1217,089) 95.909 Restricted fvnd5 Drayion Manor Anthroposophi(31 So(xety Canterbury Tnjstee 134,3251 12.8001 18.6031 134,3251 12.8(M)I 997 9.6CX) 14S,7281 13fj,1281 TOTAL FUNDS 322.598 1262,8171 59.781 Drayton ManorTrust Fur We have aJctated a wtion of these furjds lo SWSF suc£ession supporL inyo*ing standards through the delivery of in person and orAine CPD trainirwJ and SEND trwniTrJ forteachers. This grant is to meet a wrtion of the (x>st of the ajfficulum prwt lartiojlating the Steinèr Waldorf approach to eduiztion as a o)ntemporary oJrrioJlum the 21st Centyryl and the development of a s¢hemes of work website. Canterbury Trustee Page 18 Continued...
Steinerwaklorf Schools Fdlowship mited Notes to the Financial Statements. wrtinued for the year ended 31 August 2023 16. MOVEMENT IN FUNDS- continued CIS Trust8es have avBrded fundir¥J to subsKJise SO% of o)st of Sounts Write Training for 20 teachers, the deVdment ofa Stner Wat(k)rf readir¥J stheme aThl Maths tr3inirKJ for leattE. Fnde der Erziehurtgskun5t RudolF Steiners This was a donab.trn towdrds athsory worL 17. RELATED PARTY DISCLOSURES There were no related party transadkyB frthe year ended 31 August 2023. Page19
St•inerWaklorfSchools Fdlgmship mited forthe year ended 31 August 2023 2023 2022 INCOME AND ENDOWMENTS Donations and lega¢res Donations Legacies Grants Contributh)ns from schools 5.895 269,958 29.392 70,000 19.600 168.551 173.938 449,791 287,543 Investment incorne Deposrt account interest 970 219 Charitsble acttvlties Art tsfTeaehing Training for schools Website Atherising PublicatDns ConferenG¢ and advisory fees Other income 18.370 40.399 396 11,817 6.595 49.105 24.506 500 1.540 8.290 126.682 34.836 T¢)tsl inwming resour 577.443 322.598 XPENDITURE Othertrading activityes Publications and conferences Training lor Schools Art ofTeaching 18.273 48.930 4.874 3,916 33.104 72,077 37,020 Support costs Mana9ement Wages Soaal security Pensions Insuran¢e Telephone Advertssing Sundries Educational research Travel and subsisten Office expenses subscripb.ons Legal and professK)nal Suti contractOTS Consultsncy ReGruitrnent Bad Debts Development costs amothth Computer depreciation 140,677 10.535 4,313 339 1,051 138,143 10.422 3,883 568 4.061 10,410 771 20 11,759 16,5991 420 7,850 6,420 3.442 10,742 17.423 5.327 11,3851 25.605 14,328 719 14.004 10.620 355 238 236.419 219.704 This page Lkns notfom part of Ihe ststutory finarKial siaiements Page 20
Stsinerwaldorf Schools Fellowship Limited forthe yearendÈd 31 August 2023 2023 2022 Management Finance Bank tharges Other inierest 303 143 792 143 Governartc• costs Auditrxs, rèmun*ats"on 3,073 5.950 Totsl resources expended 312.361 262.817 Net in¢ome 2ff,082 59.781 This page ¢JLES form partofthe Ststtrt0ryfinaw statements P&Je21