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|||||Page|
|---|---|---|---|---|
|General
Information|||||
|Report ofthe Governors||||2-9|
|Statement ofGovernors'||responsibilities||10|
|Report ofthe Independent||Auditors||11-14|
|Statement offinancial|activities|||15|
|Balance sheet|||||
|Statement
ofcash flows||||17|
|Notes to the financial|statements|||18-26|
|PAG ES NOT FORMING|PART OF||THE FINANCIAL STATEMENTS||
|Detailed statement
of|financial||activities|27-31|
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|Chief Executive:|Chief Executive:||Jenny Abrahamsson|(Head Teacher)|(Head Teacher)|
|---|---|---|---|---|---|
|Registered|office:||82 Lonsdale Road|||
||||London|||
||||SW139JS|||
|Bankers:|||Nordea
Bank Ab|||
||||Ha mnga tan 10|||
||||10571Stockholm|||
||||Sweden|||
||||HSBC Bank|||
||||172 Upper Richmond|Road||
||||London
SW15 25H|||
|Statutory|Auditor:||Harmer Slater Limited|||
||||Salatin House|||
||||19Cedar Road|||
||||Sutton|||
||||Surrey
SM2 SDA|||
|Valuation|advisers:||The Agencyfor
National||Education|
||||10620Stockholm|||
||||Sweden|||
|Registered|company|number;|959675(England
and|Wales)||
|Registered|charity number:||307379|||
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|fulfilled the roles ofGovernors ofthe charity and directors ofthe charitable|fulfilled the roles ofGovernors ofthe charity and directors ofthe charitable|fulfilled the roles ofGovernors ofthe charity and directors ofthe charitable|co|mpany.||
|---|---|---|---|---|---|
|Up until the AGIVI on 27 October 2022, the Board was composed as follows:||||||
|Mr Klaus Bassler|Chair from 11September,||Secretary before this date|||
|Mrs Christina
Cudworth-Franson|Vice Chair and|Safeguarding|Link Governor|||
|Mrs Anna Pennock|Treasurer|||||
|Mrs Charlotte
Gustavsson|Representative|ofthe Swedish||National|Agency for Education|
|Mr Soren Kroon|Secretary (split|role)||||
|Mrs Annelie Selander|Other business|||||
|Mrs Hanna
Roos|Chair until 11September|||||
|After the AGM on 27 October 2022, the Board|was composed as follows:|||||
|Mr Klaus Bassler|Chair|||||
|Mrs Christina
Cudworth-Franson|Vice Chair and|Safeguarding|Link Governor|||
|Mrs Lotta Edstrom|Treasurer|||||
|Ms Anna Jagberg|Secretary|||||
|Mrs Charlotte Gustavsson|Representative|ofthe Swedish||National|Agency for Education|
|Mrs Annelie Selander|Other business|||||
|Mr Soren Kroon|Other business|||||
|Mrs Tania Tandon|Other business|||||
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||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||Funds|Funds|2023|2022|
|INCOME FROM:|||||||
|Charitable
activities|||||||
|Swedish Government|grants:||||||
|a) Education|||240,420||240,420|210,701|
|0)Premises||||238,816|238,816|198,311|
|Fees receivable|||2,515,471||2,515,471|2,255,826|
|Sixth form host family|project||526,220||526,22G|411,146|
|UK Government
Grants|||218||218|74,140|
|other activity incolTle|||54,929||54,929|40,474|
|Investments|||||||
|Bank and other interest|||21,065||21,065|622|
|Other resources|||||||
|Exchange gain/(loss)|||(3,666)||(3,666)|(1,175)|
|Totalincome||2|Sp354p657|238816|3)593J473|3t190J045|
|EXPENDITURE ON.'|||||||
|Charitable
activities|||||||
|Educational
costs|||2,423,366|400,974|2,824,340|2,370,296|
|Welfare costs|||97,846||97,846|89,600|
|Premises costs|||80,428|76,809|157,237|112,673|
|Host Family Scheme expenditure|||519,500||519,500|456,571|
|Other activity expenditure|||65,575||65,575|45,200|
|Governance
costs|||71,475||71,475|103,043|
|Total expenditure||3|3258190|477 783|3735973|3177383|
|NET
INCOMING/(OUTGOING)|||||||
|RESOURCES BEFORETRANSFERS|||96,467|(238,967)|(142,500)|12,622|
|Gross transfers
between funds|||(238,967)|238,967|||
|NET!YIOVEMENTS IN|FUNDS||(142,500)||(142,500)|12,662|
|TOTAL FUNDS BROUGHT FORWARD|||2,241,994||2,241,994|2,229,332|
|TOTAL FLINDS CARRIED FORWARD||12|2,099,494||2,099,494|2,241,994|
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||||||2023|2022|
|---|---|---|---|---|---|---|
|Cash flows from operating|activities:||||||
|Net (loss)/Income
forthe|Year||||(142,500)|12,662|
|Adjustments
for items not|affecting cash flows:||||||
|Depreciation ofequipinent|||||126,661|112,412|
|Bank Interest received|||||(21,065)|(621)|
|Net operating
cash flows before reinvestment|||in||||
|working
capital|||||(36,904)|124,453|
|Decrease/(increase)
in debtors|||||(117,925)|(977,585)|
|(Decrease)/increase
in creditors|||||95,721|984,822|
|Net cash flows from operating activities|||||(59,108)|131,690|
|Cash flow Nom investing|activities:||||||
|Purchase oftangible
fixed|assets||||(97,920)|(67,811)|
|Bank interest received|||||21,065|621|
|Net cash used in investing|activities||||(76,855)|(67,190)|
|Change in cash and cash equivalents||in the|reporting|period|(135,963)|64,499|
|Cash and cash equivalents|atthe beginning||ofthe reporting||||
|period|||||1,286,177|1,221,678|
|Cash and cash equivalents|atthe end|ofthe|reporting|period|1,150,214|1,286,177|
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|Leasehold|buildings,|including|extension|2%on cost|
|---|---|---|---|---|
|Building improvements||||2-10%on cost|
|Fixtures,|fittings and|equipment||20'fo on cost|
|(including|computer|and video|equipment)|25'I on cost|
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|||||||Staff|Support|Depreciation|2023|
|---|---|---|---|---|---|---|---|---|---|
|||||||Costs|cos'ts||Total|
|Charitable||expenditure||||||||
|Costs ofactivities|||in|furtherance|of|||||
|charitable|company's|||abjectives:||||||
|Education||||||2,151,995|626,112|46,233|2,824,340|
|Welfare||||||21,874|75,972||97,846|
|Premises||||||76,809||80,428|157,237|
|Host Family||scheme|||||519,500||519,500|
|Other activities|||||||65,575||65,575|
|Governance||costs||||49,218|22,257||71,475|
|||||||2,?99,896|1,309,416|126661|3g735p973|
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|3)|AIIIALYSIS|AIIIALYSIS|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)|OF TOTAL RESOURCES EXPENDED itCONTIRIUED)||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Staf'f|Support|Depreciation||2022|
||||||||||costs|costs|||Total|
|||||||||||f||f.||
||Charitable|expenditure||||||||||||
||Costs ofactivities|||in|furtherance||of|||||||
||charitable
company's||||objectives:|||||||||
||Education|||||||1,766,588||569,500|34,208||2,370,296|
||Welfare||||||||25,679|63,921|||89,600|
||Premises||||||||34,469||78,204||112,673|
||Host Family|scheme|||||||28,014|428,557|||456,571|
||Other activities|||||||||45,200|||45,200|
||Governance||costs||||||73,094|29,949|||103,043|
|||||||||1,927,844||tp237,227|222)422||3,177,383|
||||||||||||ZoZ3||2022|
||||||||||||Total||Total|
||STAFF|||||||||||||
||Salaries anti||wages||||||||1,967,883||1,626,357|
||Employer's|national|||insurance||||||198,131||169,394|
||Pension cost||||||||||130,736||122,394|
||||||||||||2,296,750||2,918,145|
||Average number|||employed||in the year||(including|part time|employees)||||
||Teaching staff||||||||||53|||
||Others||||||||||5|||
||||||||||||58||52|
||||2023|2022|
|---|---|---|---|---|
||||Total|Total|
|Between:|f60,000|—E70,000|||
||E80,000|—E90,000|||
||E90,000|—E100,000|||
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|NET INC|OMIN|G
R|ESOURCE|S||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||Total|Total|
|Net incoming resourcesisstated||||after charging/(crediting):||||
|Other operating||lease|rentals —praperty|||232,756|230,554|
|Depreaatian||||||126,661|112,412|
|Exchange|gain||||||1,175|
|||||||(3,666)||
|Auditors'|remuneration||-audit ofthe charity's accounts|||4,680|4,730|
|Auditors'|remuneration||—non-audit||services|6,574|6&442|
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||Long Leasehold|Building|Fixtures, fittings &||
|---|---|---|---|---|
||Premises|improvements|Equipment|Total|
||||f||
|Cost|||||
|At 1July 2022|887,899|1,334,551|478,369|2,700,819|
|Additions
in year||8,356|89,563|97,920|
|At 30June 2023|887,899|1,342,907|567,932|2,798,739|
|Depreciation|||||
|At 1July 2022|726,135|665,071|385,435|1,776,642|
|Charge for year|17,758|62,670|46,233|126,661|
|At 30June 2023|743,893|727,741|431,668|1.903,303|
|Net book amounts|||||
|At 30June 2023|144,005|615,166|136,264|895,436|
|At 30June 2022|161,764|669,480|92,934|924,179|
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|8)|DEBTORS|||
|---|---|---|---|
|||2023|2022|
||Fees billed in advance|1,054,364|998,346|
||Other debtors|48,910|45,645|
||Prepayrnents|179,042|120,399|
|||1,282,316|1,164,390|
|9)|CASH AT BARIK AND IN HAND|||
|||2023|2022|
||Cash at bank|450,214|486,177|
||Short term deposits|700,000|800,000|
|||1,150,214|1,286,177|
|10)|CREDITORS|||
|||2023|2022|
||Amounts
falling due within one year:|||
||Trade creditors|48,798|32,244|
||Other creditors|473|448|
||Social security and other taxes|68,373|52,708|
||Accrued expenses|10,708|26,565|
||Fees billed in advance|1,100,120|1,020,787|
|||1,228,472|1,132,752|
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|Year ended 30June 2023||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||Funds|Funds|Funds|
||||f|
|At 1July|2,241,994||2,241,994|
|incoming resources|3,354,657|238,816|3,593,473|
|Resources expended|(3,258,190)|(477,7B3)|(3,735,973)|
|Transfers|(238,967)|238,967||
|At 30June|?,099,494||2,099,494|
|Year ended 30June 2022||||
||Unrestricted|Restricted|Total|
||Funds|Funds|Funds|
||f|||
|At 1)uly|2,229,332||2,229,332|
|Incoming resources|2,991,734|198,311|3,190,D45|
|Resources expended|(2,766,6B2)|(410,7011|(3,177,383)|
|Transfers|(212,390)|212,390||
|At 30June|2,241,994||2,241,994|
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|ANALYSIS OF NET ASSETS|ANALYSIS OF NET ASSETS||||
|---|---|---|---|---|
|Year ended 30June 2023|||||
|||Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
|Tangible|fixed assets|895,436||895,436|
|Current|assets|2,432,530||2,432,530|
|Current|liabilities|(1,228,472)||(1,228,472)|
|||2,099,494||2,099,494|
|Year ended 30June 2022|||||
|||Unrestricted|Restricted|Total|
|||Funds|Funds|Funds|
|||E|||
|Tangible|fixed assets|924,179||924,179|
|Current|assets|2,450,567||2,450,567|
|Current|liabilities|(1,132,752)||(1,132,752)|
|||2,241,994||2,241,994|
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|||Land and|
|---|---|---|
|||Buildings|
||2023|2022|
|Not later than one year|185,600|185,600|
|Later than one year and not later than five years|406,853|515,953|
|Later than 5 years|323,000|365,500|
||915,453|1,067,053|
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