Charlty Registration No. 311027
Company Registratlon No. 00395056 (England and Wales>
RSSKL LTD
ANNUAL REPORT AND FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31JULY 2024
GROUP
BUSINESS
ADVISORS
& ACCOIJNTANT$
One Bell Lane
Lewes
East Sussex
BN7 IJU

RSSKL LTD
CONTENTS
Page
Company information
Council Members, report
Statement of Council Members, responsibilities
Independent auditor's report
8-11
Statement of financial activities
12
Balance sheet
13
ststement of cash flows
14
Notes to the financial statements
15-28

RSSKL LTD
COMPANY INFORMATION
Council Members
S Cook
S Henderson
A Marcuson
Charlty number
311027
Company number
00395056
Registered office
Langley Hill
Kings Langley
Hertfordshire
WD49HG
Auditor
TC Group
One Bell Lane
Lewe5
East Sussex
BN7 IJU

RSSKL LTD
COUNCIL MEMBERS, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 JULY2024
The Council Members present their annual report and financial statements for the year ended 31 July 2024.
The ac¢ounts have been prepared in accordance with the accounting policies set out in note I to the accounts and
comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and °Accounting and
Reporting by Charities- Ststement 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 1021"
(effective l January 20191.
Definition- "the Council of Trustees"
be considered in the same context.
"Council Members"
"Trustees" or "trustees" when used in this report should
Objectives and activities
The charitable objectives of RSSKL as stated in its Memorandum of Association are:
To establish and carry on at Kings Langley a School where pupils, scholars and students may obtain on moderate
terms a sound general education upon the principals inaugurated by Rudolf Steiner.
In pursuance of RSSKL'S charitable objects, the Trustees remain committed to facilitating, in collaboration with
Waldorf UK (formerly the Steiner Waldorf Schools Fellowship "SWSF") and the international Steiner Waldorf
movement, the establishment at the earliest opportunity of a Steiner Waldorf school on the RSSKL site by
suitable operator.
The Trustees, vision and strategy for achieving this has been communicated to the RSSKL Association previously
and is being implemented.
Charity Commission
The Trustees have been in regular dialogue with the Charity Commission to keep them updated on all aspects of
the Charity's activities.
Changes in Management and Staffing
The following members of the Council of Trustees were active Council Members on 31 July 2023 and are still active
today-
Stefanie Cook
Sophie Henderson
Annie Marcuson
Robert Monk is employed by RSSKL a5 Slte manager. He works full time and lives on site.
Legal advice to the Charity has been provided by Russell Cooke LLP since the beginning of 2021. The Charity also
obtains occasional legal, property, strategic and financial advice from experienced volunteers with relevant
backgrounds.

RSSKL LTD
COUNCIL MEMBERS, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 JULY2024
Achievements and performance
Financial stabili
A detailed strategic and financial plan was developed by the Trustees with suitsble financial input in early 2021,
which concluded that RSSKL'S historic liabilities can be settled if properties owned by the Charity which are not
critical to realising its objects are sold off. This mainly refers to residential units that have been occupied by
teaching stsff in the past in the Grade Il* listed Old Priory complex (including the Old Priory itself) and Coombe
House (formerly known as The Cottagel.
Upon the sale of Coombe House at auction in November 2023, the Charity was able to pay back the É360,OCQ
bridging facility provided by the German Freunde der Erziehungskunst in January 2024, which was secured against
one of the residential properties. The Charity has no other indebtednes5 at present, though there remains the
Charity's long-term liability from its Mercury Provident Pension Scheme deficit (see page 51.
The Trustees have continued to generate alternative sources of income from the RSSKL site. mainly from short-
term rental contrarts with film production companies. This provides income to help cover some of the operating
expenses of the site. while the sale of The Priory to a property developer is being finalised. The Trustees have
applied for temporary change of use in connection with these activities. The application was refused, and the
Charity is in the process of appealing the Council's decision. If the appeal is unsuccessful this could affect the
extent of rental activity which the Charity is able to perform from the site.
With effett from April 2025, private schools in England with charitsble status will lose their eligibility for business
rates charitable relief. subjett to legislation. This is likely to increase the Charity's exposure to business rates going
forward.

RSSKL LTD
COUNCIL MEMBERS, REPORT (INCLUDING DIREcfoRS' REPORT)
FOR THE YEAR ENDED 31 JULY2024
Activities in
ursuance o
RSSKL'S charitable ob ects
The Charity has continued to be in close dialogue with Waldorf UK to develop Strategic plans for how the RSSKL
site with its remaining assets. once the Charity's pension deficit has been satisfied (see page 51, can provide a
basis for a new Steiner Waldorf school to be established by a suitable operator. in line with the Charity's objetts.
Waldorf UK ha5 set up a new Land Trust to hold and steward the Charity's land assets in future, and is in the
process of identifyir)g suitable Trustees for it.
The Charity also continues to offer its properties for use by the Steiner community and ft>r local community
artivities that could a5SiSt a new Steiner Waldorf school being successfully established in the future. The Kings
Langley Biodynamic Allotments group (which utilises and popularises Rudolf Steiner's methodolo8y of biodynamic
agriculture) remains a very artive voluntary setting on the site. In addition, there were numerous Ioc31 groups anij
attivities linked to, or supportive of. the Steiner community which continued to operate on the site, including-
Anthroposophical study group
A third Advent Fair forthe RSSKL community organised by the St Albans Steiner Kindergarten
Steiner/Waldorf Parent and Child group
Seasonal apple picking with the community
Pressing apples to make juice for the local community. raising funds for the Parent and Child group
Biodynamic allotments with seasonal community activities
Lumina Choir rehearsals
Cricket practice sessions
Football classes
Boot camp sessions
Kings Langley Community choir practice

RSSKL LTD
COUNCIL MEMBERS, REPORT {INCLUDING DIREcfoRS' REPORT)
FOR THE YEAR ENDED 31 JULY2024
Pro
Sales and Use of Funds
The Trustees have continued to work with local planners and Historic England regarding the proposed sale of
ancillary properties. The relevant surneys and reports necessary before bringing the residential units to the market
were all completed (including settion 119 Charities Act report5 by chartered surveyors Rumball Sedgwick).
The sale of The Priory and associated buildings within its curtilage (Priory complex) is progressing. The Trustees
have continued working with a reputable property developer and his company, District and Circle Ltd, towards
exchange of contracts, based on agreed Heads of Terms. In parallel, the Trustees have come to an agreement with
the Christian Community regarding the access road and the neighbouring parcel of land. This is taking longer than
experted given the complexity of the transaction, although the Trustees are confident to exchange contracts in the
weeks to come and complete the sale by April 2025.
Coombe House was initially marketed by Proffitt & Holt and then by Castles from 28 December 2022 until
September 2023, at which time an independent property expert was appointed to support RSSKL in going to
auction. Coombe House was sold in November 2023 at auttion for £489.OIX). Rumball Sedgwick provided an
addendum report to confirm that progressing with the sale at this reduced sale price was in the interest of the
Charity.
result of the sale of Coombe House. the Trustees were able to pay back the loan to the Freunde der
Erziehungskunst and carry out the segregation of the Charity's pension liabilities from the Mercury Provident
Pension Fund scheme in a first step towards paying off the entire pension deficit, once The Priory complex sale
completes.
Mercu
Provident Pension Fund
The RSSKL school's historic pension fund, like many other defined benefit schemes in the UK, 15 running at a
deficit. The deficit is the result of a combination of factors, including contribution5 being underpaid in past years,
the cost5 of running the fund being capitalised, the Charity being part of a group scheme {which means that if any
company in the group defaults, other scheme employers have to pick up the deficit) and scheme participants
living longer with investment returns not covering the forecast requirements.
The Charity entered into an agreement with the Pension Trustee in 2Crf)9 to make monthly catch-up payments
towards eliminating this deficit. and has done so since. Monthly contributions to the scheme are currently payable
at approximately £10,000. These catch-up payments are reviewed every years and adjusted accordingly.
In December 2023, after the sale of Coombe House, the Trustees entered into an agreement with MPPS to
segregate RSSKL from the Main Section of the MPPS. As a resutt, RSSKL is not any longer liable for pension
obligations of other employers in case they go into administration.
In its initial valuation report, released in August 2024, the actuary of MPPS estimated the shortfall of the RSSKL
section of the Scheme at around £1,160k for December 2023 on a statutory ISFOI basis. With a funding level of
the RSSKL settion at 51%, the current shortfall remains very sensitive to the discount rate and hence, to the
development of UK gilts, among many other fattors.
It is the intention of the Trustee5 to cover the deficit of the segregated sectlon in full once the Priory Complex has
been sold and sell the RSSKL section for run off to a third party as soon as practicable thereafter. The MPPS
actuary estimated the shortfall on a buy-out solvency basis for December 2023 at around £927k. The Trustees are
working closely with the TrLSStees of the MPPS on this matters.

RSSKL LTD
COUNCIL MEMBERS, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR EAIDED 31 JULY2024
Flnancial review
Statement of Flnanclal Activities
The proceeds of the sale of Coombe House have been applied by the Trustees to..
il pay back the loan to the Freunde der Erziehungskunst in January 2024. The Trustees would like to thank in
particular the Executive Direttor of Freunde der Erziehungskun5t. Nana Goebel.
lil Carry out the segregation of the Charity's pension liabilities from the Main Section of the MPPS in a first step
towards paying off the entire pension deficit, once the sale of The Priory complex completes {see page Sl.
Structure. governan￿ and mana8ement
The Charity is constituted a5 a company limited by guarantee. It is governed by a Memorandum and Articles of
Association.
The company's Articles of Association require that an AGM be held once a year. The As50ciation'5 AGM for the
period ended 31 July 2024 was a hybrid one, held in the Theatre at the former school and online on 8th July 2024.
It was attended by 17 members. The association had 82 members as of 31 July 2024.
Council Members-
S Cook
S Henderson
A Marcuson
Auditor
In accordance with the company's articles, a resolution proposing that TC Group be reappointed as auditor of the
company will be put at 3 General Meeting.
Disclosure of infomiation to auditor
So far as the trustees are aware, there is no relevant audit information of which the charity's auditors are
unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken as trustees in
order to make themselves aware of all relevant audit information and to establish that the charity's auditors are
aware of that information.
The Council Members, report was approved by the Board of Council Members.
S Cook
Council Member
S Henderson
Councll Member
A Marcuson
Councll Member
Date: ......25th Ap.n12025

RSSKL LTD
srATEMENT OF COUNCIL MEMBERS, RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY2024
The Council Members, who are also the directors of RSSKL Ltd for the purpose of company law, are responsible for
preparing the Council Members, Report and the accounts in accordance with applicable law and United Kingdom
Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Council Members to prepare accounts for each financial year which give a true and fair
view of the stste of affairs of the charity and of the incoming resources and application of resources. including the
income and expenditure. of the charitable company for that year.
In preparing these accounts, the Council Members are required to..
selert suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP;
make judgements and estimate5 that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subjert to any material departures
disclosed and explained in the accounts,. and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable
company will continue in operation.
The Council Members are responsible for keeping adequate accounting records that disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that the
accounts 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.

RSSKL LTD
INDEPENDENT AUDITOR'S REpoKr
TO THE MEMBERS OF RSSKL LTD
Opinlon
We have audited the financial statements of RSSKL Ltd (the 'charity'l for the year ended 31 July 2024 which
comprise the ststement of financial activities, the balance sheet. the statement of cash flow5 and notes to the
financial statements, including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Financial Reporting Standard opplicable in the UK and Republic of Irelond (United
Kingdom Generally Accepted Accounting Prattice).
In our opinion, the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 July 2024 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 Prartice;
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 IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Auditor's re5ponsibilitiesfvr the audit
of the finoncial 5totements sertion of our report. We are independent of the charity in accordance with the
ethical ￿quirementS 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.
Material uncertainty related to golng concern
We draw attention to note 1.2 in the financial statements which describes the current uncertainty surrounding
the issues facing the School in the current climate. As stated in note 1.2. these events indicate that a material
uncertainty exists that may cast significant doubt on the charity's ability to continue as a going concern. Our
opinion is not modified in respett of this matter.
In auditing the financial statements, we have concluded that the Council Members, use of the going concern basis
of accounting in the preparation of the financial statements is appropriate.
Our responsibilities and the responsibilities of the Council Members with respect to going concern are described
in the relevant settions of this report.

RSSKL LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUEDI
TO THE MEMBERS OF RSSKL LTD
Other inforniation
The other information comprises the information included in the annual report other than the financial
statements and our auditor's report thereon. The Council Members are responsible for the other information
contained within the annual report. Our opinion on the financi315tatements 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. Our responsibility is to read the other information and, in doing 50, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the
course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatement5. we are required to determine whether this gives rise to a material
misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that
there is a material misstatement of this other information. we are required to report that fatt.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Art 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the Council Members, report for the financial year for which the financial
statements are prepared, which includes the directors, report prepared for the purposes of company law, is
consistent with the financial statements- and
the directors, report included within the Council Members, report has been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtsined in the course of the
audit, we have not identified material misstatements in the direttors, report included within the Council
Members, report.
We have nothing to report in respect of the following matters in relation to which the Companies Art 2￿6
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 u5. or
the financial statements are not in agreement with the accounting records and retums; or
certain disclosures of trustees, remuneration specified bylaw are not made: or
we have not received all the information and explanations we require for our audit; or
the Council Members were not entitled to prepare the financial statements in accordance with the small
Companies regime and take advantage of the small companies, exemptions in preparing the Council
Members, report and from the requirement to prepare a strategic report.
Responslblllties of Councll Members
As explained more fully in the Statement of Council Members, responsibilitles, the Council Members, who are also
the directors of the charity for the purpose of company law. 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 Council
Members determine is necessary to enable the preparation of financial statements that are free from material
misststement, whether due to fraud or error. In preparing the financial statements, the Council Members 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 Council Members either
intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

RSSKL LTD
INDEPENDEMf AUDifoR'S REPORT (CONTINUED)
TO THE MEMBERS OF RSSKL LTD
Auditor's responsibillties for the audlt of the financial statements
We have been appointed a5 auditor under and report in accordance with the Atts and relevant regulations made
or having effect thereunder.
Our objettives are to obtain reasonable assurance about whether the financial statements as a whole are f￿e
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 {UKI will always detett 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
expetted to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. The extent to which our
procedures are capable of detecting irregularities, including fraud, is detailed below.
Extent to which the audit was considered capable of deterting irregularities. includlng fraud
The objectives of our audit. in respect to fraud. are: to identify and assess the risks of material misstatement of
the financial statements due to fraud,. to obtain SLrfficient appropriate audit evidence regarding the assessed risks
of material misstatement due to fraud, through designing and implementing appropriate responses- and to
respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility
for the prevention and detertion of fraud rests with both those charged with governance of the entity and its
management.
Our approach was as follows:
We identified areas of laws and regulations that could reasonably be expected to have a material effect
on the financial ststements from our general commercial and sector experience, and through discussion
with the directors and other management las required by auditing standards). and discussed with the
directors and other management the policies and procedures regarding compliance with laws and
regulations;
We identified the following areas as those most likely to have such an effect.. General Data Protection
Regulation IGDPRI: fraud and bribery and corruption. Auditing standards limit the required audit
procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and
other management and inspection of regulatory and legal correspondence. if any.
We considered the legal and regulatory frameworks direttly applicable to the financial statements
reporting framework IFRS 102 and the Charities Act 2011) and the relevant tax compliance regu13tions in
the UK,.
We considered the nature of the company's operations. the control environment and business
performance, including the key drivers for management's remuneration;
We communicated identified laws and regulations throughout our team and remained alert to any
indications of non-compliance throughout the audit;
We considered the procedures and controls that the group has established to address risks identified, or
that otherwise prevent, deter and detect fraud- and how senior management monitors those
programmes and controls.
10-

RSSKL LTD
INDEPENDENfAUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF RSSKL LTD
Based on this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Where the risk was considered to be higher, we performed audit procedures to address each
Identified fraud risk, These procedures included: testing manual journals; reviewing the financial statement
disclosures and testing to supporting documentation. performing analytical procedures; and enquiring of
management, and were designed to provide reasonable assurance that the financial statements were free from
fraud or error.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have properly planned and performed our
audit in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations lirregularitiesl is from the events and transactions reflected in the financial statements. the less likely
the inherently limited procedures required by auditing standards would identify it. The risk is also greater
regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment,
forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and
cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council'5 website at: http.'/lwww.frc.org.uk/auditorsresponsibilities. This description forms part of our
auditor's report.
Use of our report
This report is made solely to the charitable company's members. 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 charitable
company's members 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 the charitable company's members as a body. for our audit work, for thi5 report, or
for the opinions we have formed.
Davld Martin KA (Senior Statutory Auditor)
for and on behalf of TC Group
Statutory Auditor
Office.. Lewes
r4r,..I 2i> is
11

RSSKL LTD
srATEMENT OF FINANCIAL AcfiviTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2024
Unrestrfrted Restrlcted
funds
funds
2024
2024
Totsl Unrestrfcted Restrlrted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and legacies
nvestments
1,500
600,307
1,500
600,307
2,703
394,815
2,703
394,815
Total income
601,807
601,807
397,518
397,518
Expendlture on:
Charitable activities
Other expenditure
437,620
46,417
437.620
46,417
499,153
3,740
499,153
3,740
io
Total expenditure
484,037
484.037
502,893
502.893
Net gains/llossesl on
investments
li
139,0431
{39.0431
1395.IX)01
1395,0001
Net income/{expenditure)
78.727
78,727
1500,3751
{500,3751
Other recogni5ed gains
and losses:
Actuarial gain5 on
defined benefit pension
scheme5
32,536
32,536
384,000
384,000
Net movement in
funds
111.263
111,263
{116,375}
1116,3751
Reconciliatlon of funds:
Fund balances at l August
2023
1.242,522
98,270 1,340,792
1,358,897
98,270 1,457,167
Fund balances at 31 July 2024
1,353,785
98,270 1,452,055
1,242,522
98,270 1,340.792
The statement of financial activities includes all gains and losses reco8nised in the year. A15 income and
expenditure derive from continuin8 activities.
12-

RSSKL LTD
BALANCE SHEEr
ASAT31 JULY 2024
2024
2023
Notes
Flxed assets
Tangible assets
Investment property
Investments
13
966,437
1,530.000
3,619
1,021,558
2,035.000
6,654
14
15
2,500,056
3,063.212
Current a55ets
Debtors
Cash at bank and in hand
16
9.479
156.291
31.259
66.445
165,770
97.704
Creditors: amounts falling due within one
vear
18
53.771
563,124
Net current assets/lliabilities}
111,999
1465,4201
Total assets less current liabilities
2.612.055
2,597.792
Provisions for liabtlitles
11.160,CK)01
11,257,000)
Net assets
1.452,055
1,340,792
The funds of the tharity
Restrirted income funds
Unrestricted funds
21
98,270
1.353.785
98.270
1,242,522
1.452.055
1,340.792
These financial statements have been prepared in accordance with the provisions applicable to companies subjett
to the small companies regime.
The financi31 statements were approved by the Council Members on 2S.¢h.hp.rll.2.025
S Cook
Trustee
S Henderson
Trustee
Marcuson
Trustee
Company registration number 00395056 (England and Wales)
13

RSSKL LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY2024
2024
2023
Notes
Cash flows from operatln8 activities
Cash absorbed by operations
26
{745,2941
1405,5251
Investing artivities
Purchase of tangible fixed assets
Proceeds from disposal of investment
property
Investment income received
15251
468,992
600.307
394,815
Net cash generated from investing activities
1,068,774
394.815
Financing activities
Repayment of borrowings
1233,6341
25,762
Net cash (used in)/generJted from
financing activltles
1233,6341
25,762
Net increase in cash and cash equivalents
89,846
15,052
Cash and cash equivalents at beginning of year
66,445
51,393
Cash and cash equivalents at end of year
156.291
66,445
14-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 JULY2024
Accountin8 policies
Charity infomiatlon
RSSKL Ltd is a private company limited by guarantee incorporated in England and Wales. The registered
office is Langley Hill, Kings Langley, Hertfordshire, WD4 9HG.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document. the
Companies Art 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" I'FRS 102,1 and the Charities SORP 'Accounting and Reporting by Charities- Ststement 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 1021" (effective l January 20191. The
charity is a Public Benefit Entity as defined by FRS 102.
The accounts are prepared in sterling, which is the funrtional currency of the charity. Monetary amounts in
these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical c05t convention. modified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at
fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
These financial statements are prepared on the going concern basis. The Council Members have a
reasonable expertation that the charity will continue in operational existence for the foreseeable future.
however. the Council Members are aware of certain material uncertainties which may cast doubt on the
charity's ability to continue as a going concern.
The Council Members, report discusses the pressures that the charity has been under over the past few
years and states their strategy for the future. The members, are preparing for the sale of certain ancillary
residential properties owned by the charity to gather sufficient funds to enable it to meet its Current
liabilities and achieve an orderly settlement of all outstanding liabilities, including, amounts due on exit from
the pension scheme. On completion of the sale of those assets. the educational assets of the charity
including any remaining funds, restricted for educational purposes, and any amounts owed to it, will be
transferred to a successor charity in order to enable the school to operate as intended. Once the transfer is
complete, the intention of the members, is to voluntarily wind up the charity on a solvent basis.
1.3 Charltable funds
Unrestricted funds are available for use at the discretion of the Council Members in furtherance of their
charitable objettives.
Restrlcted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restrirted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been
met, the amounts can be measured reliably, and it is probable that income will be received.
15-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMEKfs (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Accounting policies
(Contlnued}
Cash donations are recognised on receipt. Other donations are recognised once the charity has been
notified of the donation, unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time
of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution,
the amount is known, and receipt is expetted. If the amount is not known, the legacy is treated as
contingent asset.
Fundraising income is shown gross with the associated costs included in costs of fundraising,
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement and the amount
of the obligation can be measured ￿lIablY.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its artivitie5. It
includes both costs that can be allocated direttly to such activities and those costs of an indirect nature
necessary to supportthem, including allocated governance costs.
Governance costs includes those costs associated with meeting the constitutional and Statutory
requirements of the charity and include the audit fees and costs linked to the strategic management 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; others are apportioned on
estimated usage as a proportion of directly attributable expenditure.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Items of a capital nature with a useful economic life in excess if 12 months and costing over £500 are
capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write
off the cost less estimated residual value of each asset over its experted useful life. as follows..
Freehold property
Furniture & fittin8S
Equipment & computer
Motor vehicles
1% & 4% per annum on cost
IOOA per annum on the reducing balance
10% & 25% per annum on the reducing balance
25% on the reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceed5 and the carrying value of the asset, and is recognised in the statement of financial activities.
16-

RSSKL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 JULY2024
Accountln8 poli¢ies
(Contlnuedl
1.7 Investment propertles
Investment property, which is property held to earn rentsls and/or for capitsl appreciation, is initially
recognised at cost, which includes the purchase cost and any dirertly attributable expenditure. Sub5equÈntly
it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in
profit or loss.
1.8 Hxed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are
subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net
incomellexpenditurel for the year. Transaction costs are expensed as incurred.
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are
shown within borrowings in current liabilities.
1.10 Financial instruments
The charity has elected to apply the provisions of Sertion 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issue5. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Basicfinancial assets
Basic financial assets. which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction
is measured at the present value of the future receipts discounted at a market rate of interest. Financial
a55ets classified as receivable within one year are not amortised.
Basicfinancial liobllitles
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised c05t, Using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due withln one
year or les5. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transartion price and subsequently measured at amortised cost using the effective interest method.
17-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMENTS IcopifiNUED)
FOR ThE YEAR ENDED 31 JULY2024
Accounting policies
(Continued)
1.11 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's Se￿ICe$ are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
1.12 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The charity belongs to the Mercury Provident Pension Scheme which is a defined benefit scheme. This is a
collective scheme for a number of employers.
The pension costs charged in the f5nancial statements represent the contributions payable by the charity
during the year. The Mercury Provident Pension Scheme is now closed and with effect from l January 2009
existing members at that date were given the opportunity to transfer to a defined contribution scheme
adrninistered by The Pension Trust Company.
It is not possible to identify the charity's Share of the net assets and liabilities of the defined benefit pension
scheme. The provision of the liability is recognised on the basis of the estimate of the debt due at that time
provided by the scheme's actuary, with the net movement on the provision recognised in income/
(expenditure) for the year.
1.13 Value added tax
VAT is not recoverable by the charity and as such is included in the relevant costs in the Ststement of
Financial Activities.
Critical accountln8 estimates and judgements
In the application of the charity's accounting policies, the Council Members are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not
readily apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate 15 revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Crltical Judgements
Depreciatlon
The charity exercises judgement to determine useful lives and residual values of intangibles, property, plant
and equipment and investment property. The assets are depreciated down to their residual values over their
estimated useful lives.
18-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Critlcal accountlng estimates and Judgements
(Continued)
Bad debt provision
The charity reviews each individual debt at the year end and forms a judgement as to the likelihood of
covery at that date. Where, in the opinion of the charity, there is sufficient uncertainty as to reci)very an
appropriate provision is made against the debt.
Pension liability valuatlon
The charity reviews at each reporting date the estimate of debt due on ceasing participation with the multi-
employer defined benefit pension scheme. The scheme actuary provides to management an estimate of the
Section 75 debt that would be payable on ceasing participation, without segregating. This estimate reflects
the current membership of the scheme and the market conditions at the time of valuation.
Income from donations and legacies
Unrestricted
funds
2024
Unrestrlcted
funds
2023
Donations and gifts
1.5¢)0
2,703
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Rental income
Interest receivable
599.690
617
394,619
196
600,307
394,815
19-

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O Ln

RSSKL LTD
NOTES TO THE FINANCIAL STATEMEp¥fs (CONTINUEDI
FOR THE YEAR ENDED 31 JULY2024
Support costs allocated to artivities
2024
2023
Staff costs
Bad debt provision
Bank charges and interest
Legal and professional
Loan interest
Governance costs
25,977
12.292
13521
{45,5351
17
17.590
19,406
40
46,006
15,392
9,989
80.844
Analysed between:
Support costs
Governance costs
(7,601)
17.590
65,452
15,392
9,989
80,844
2024
2023
Governante costs comprise:
Audit fees
17,590
15,392
17.590
15,392
Net movement in funds
2024
2023
The net movement in funds is stated after chargin81lcrediting)'.
Fees payable for the audit of the charity's financial Statements
Depreciation of owned tangible fixed assets
Loss on disposal of investment property
17.590
55,646
16,008
15,392
29.387
Councll Members
None of the Council Members {or any persons connected with them) received any remuneration or benefits
from the charity during the year. No expense5 were reimbursed to the trustees during the year12023
None}
The key management personnel for the year were the Trustees and their remuneration wa5 £nil.
21

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 JULY2024
Employees
The average monthly number of employees durlng the year was:
2024
Number
2023
Number
Administration & Support
Employment costs
2024
2023
Wages and salaries
Other pension costs
24.617
111,368
19.406
124,950
135,985
144.356
There were no employees whose annual remuneration was more than £60.000.
10 Other
Unrestrirted Unrestricted
funds
funds
general
general
2024
2023
Financing costs
46.417
3,740
46.417
3,740
11 Net galns/(losse5) on investments
Unrestricted Unrestricted
funds
funds
general
general
ZOZ4
2023
Net gainllloss) on investments
Fair value movement of investment properties
Loss on disposal of investment property
13,0351
{20,000) 1395,CN)O}
{16,008)
{39,0431 (395,0001
22-

RSSKL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
12 Taxation
The charity is exempt from tsxation on its activities because all its income is applied for charitable purposes.
Tanglble flxed assets
Freehold
propertv
Fumlture &
Ilttin85
Equlpment & Motor ¥•hl¢t•s
tomputer
Total
Cost
At l August 2023
Additions
Disposals
1,395,CQS
297
626.542
149,113
228
{5,108}
21,243 2,191,903
525
16,1441 1301,868}
{290,6161
At 31 July 2024
1,395,302
335,926
144.233
15.099 1.890.560
Depreciation and impaimient
At l August 2023
Depreciation charged in the year
Eliminated in respect of disposals
416,856
51,090
584,544
4,203
1290,6161
147.816
325
15.1081
21.129 1,170.345
28
55.646
16.1441 {301,8681
At 31 July 2024
467,946
298.131
143.033
15.013
924,123
Carrying amount
At 31 July 2024
927.356
37,795
1,200
86
966.437
At 31 July 2023
978.149
41,998
1,297
114 1.021,558
14 Investment property
2024
Falr value
At l August 2023
Disposals
Net gain5 or105ses through fair value adjustments
2.035,000
1485,0001
{20,0001
At 31 July 2024
1,530,000
The fair value of the investment property has been arrived at on the basis of a valuation carried by the
Trustees. The valuation was made on an open market value basis by reference to market evidence of
transaction prices for similar properties.
-23-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMEMfs (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
14 Investment propertv
(Continued)
If investment properties were stated on an historical cost basis rather than a fair value b3SlS, the amounts
would have been included as follows..
2024
2023
Cost
Accumulated depreciation
81,808
40.904
87,429
43.795
Carryin8 amount
122.712
131,224
IS Fixed asset Investments
Unlisted
investments
Cost or valuation
At l August 2023
Valuation changes
6,654
{3.0351
At 31 July 2024
3,619
Carrying amount
At 31 July 2024
3.619
At 31 July 2023
6,654
The investment represents 135 Depository Receipts of Triodos Bank BV. They had a market value of £31.80
at 31 July 2024 translated at a rate of 0.8430.
16 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrtjed income
12,294
7,154
11,811
9,479
9,479
31,259
-24-

RSSKL LTD
NOTES TO THE FINANCIAL STATEMENTS {coNfiNUED)
FOR THE YEAR ENDED 31 JULY2024
17 Loans and overdrafts
2024
2023
Other loans
233,634
Payable within one year
233,634
18 Creditors: amounts falling due wlthin one year
2024
2023
Borrowings
Other taxation and social security
Trade creditors
Other creditor5
Accruals and deferred income
233,634
1791)
101,611
54,471
174,199
200
8,295
20,088
25.188
53,771
563,124
19 Provisions for liabillties
2024
2023
Notes
Retirement benefit obligations
1,160,000
1,257,000
1,160,000
1,257.000
The provision made in the accounts represents the amount which will fall due at the point that the charity
eases participating in the scheme.
20 Retirement benefit schemes
Defined contrlbutlon schemes
Rudolf Steiner School Kings Langley Llmited makes contributions to a defined contribution stakeholder
scheme. The charge to the Statement of Financial Activities in respert of defined contribution schemes was
£1,36012023 - £7811.
-25-

RSSKL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
20 Retirement benefit schemes
(Continued)
Defined benefit schemes
The charity and other employers participate in the Mercury Provident Pension Scheme, that provides
benefits on the basis of final pensionable pay for participants. The assets of the scheme are held separatelv
from those of the charity and invested by a pension fund management companv.
Contributions continue to be made each month to ensure that the liability does not increase. Total
contributions for the year were £110,973 in addition to the pension levy of £1,817.
21 Restrirted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
At l AugustAt 31 July 2024
2023
Bufsary fund
Classroom funds
K L Concert fund
Hockey Club
Teacher wish list
Music department legacy
63.250
28,666
2.877
1.352
500
1,625
63,250
28,666
2,877
1,352
500
1.625
98,270
98,270
Previous year:
At l AugustAt 31 July 2023
2022
Bursaryfund
Classroom funds
K L Concert fund
Hockey Club
Teacher wish list
Music department legacy
63,250
28,666
2,877
1,352
s￿
1,625
63,250
28,666
2,877
1,352
500
1,625
98,270
98.270
-26-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 JULY2024
21 Restricted funds
Icontlnued)
Restrirted fund5'.
Bursary fund
to assist with children's education in extraordinary circumstances
Classroom funds
are donations made by parent5 for use by the class
K L Concert fund
organisation of concerts
Hockey Club
donations made by parents towards the club's activities
Teacher wish list
donations towards teachef's wish list
Music department legacy- donation made by an individual towards the department's activities
The Council Members have undertaken a review of restritted funds. Transfers from unrestricted to restricted
funds have been processed to eliminate any shortfall in such funds. As the charity is currently not
operational, the Council Members intend to transfer these funds to a new entity which will re-commence
activities and therefore spend these funds on their intended purposes.
22 Analysis of net assets between funds
Unre5trirted Restricted
funds
funds
2024
2024
Total Unrestrirted
fund5
2023
Restritted
funds
2023
Total
2024
2023
Fund balances at 31
July 2024 are
represented bv:
Tangible 355ets
Investment properties
Investments
Current
assets/lliabilitiesl
Provisions and
pensions
966,437
1.530,000
3,619
966.437
1.021.558
1,530,000 2,035,000
3,619
6.654
1,021,558
2.035,000
6,654
13,729
98,270
111,999
1563.690)
98,270
1465,4201
11,160,000)
11.160.000) 11,257,OC(J)
11,257.0001
1,353,785
98.270
1.452,055
1,242,522
98,270 1.340,792
Events after the reportlng date
The trustee5 intend to sell the remaining investment property after the year end for an amount equal to its
fair value at the balance sheet date.
24 Related party trdnsactions
There were no disclosable related party transartions during the year12023 - none}.
-27-

RSSKL LTD
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
25 Analysls of changes in net fundslldebt)
At IAuourt 2023
Cashflows
At 31 July 2024
Cash at bank and in hand
66.445
89,846
156,291
Loans falling due within one year
1233,634}
233,634
1167,1891
323.480
156,291
26 Cash 8enefated from operations
2024
2023
Surplus/ldeficitl for the year
78,727
1500,3751
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of investment property
Fair value gains and losses on investment properties
Fair value gains and losses on investments
Defined benefit pension scheme costs
Depreciation and impairment of tangible fixed assets
{600,3071
16,008
20.000
3,035
164,4641
55.646
1394,8151
395.000
29.387
Movements in working capital..
Decrease in debtor5
(Decreasellincrease in creditors
21.780
1275,7191
13,337
51.941
Cash absorbed by operations
1745,294}
1405.5251
-28-