COMPANY REGISTRATION NUMBER: 01367943 CHARITY REGISTRATION NUMBER: 510414
Eskdale Community Trust for Education Limited A Company Limited by Guarantee Unaudited Financial Statements 31 August 2022
HARRISON HOLT
Chartered Accountants High Park Farm Kirkbymoorside York YO62 7HS
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Financial Statements
Year ended 31 August 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 8 |
| Statement of financial activities (including income and | |
| expenditure account) | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 11 |
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2022.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Reference and administrative details
Registered charity name Eskdale Community Trust for Education Limited
Charity registration number 510414 Company registration number 01367943 Principal office and registered The Village College office Botton Village Danby Whitby North Yorkshire YO21 2NJ The trustees Linda Parker (Resigned 31 December 2022) Christine Reid (Resigned 20 May 2023) Catherine Van Dam (Resigned 6 February 2022) Jane Pearson (Resigned 1 November 2021) Mark Ellison (Resigned 13 March 2023) Sara Lucassen Tristan Zipfel (Appointed 15 July 2022) Philippa Kane (Appointed 7 September 2022) Bankers Tridos Bank Deanery Road Bristol BS1 5AS Company secretary Claire Kilvert-Jones Independent examiner Philip J H Holt FCA FCIE High Park Farm Kirkbymoorside York YO62 7HS
1
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Structure, governance and management
Governing Documents
The company is a charitable company limited by guarantee and does not have a share capital. The company is governed by its Memorandum and Articles of Association dated 11 May 1978 and amended on 17 June 2019.
Organisational Structure
The charitable company is administered by a Board of Trustees. The Board employs staff and the Trustees run the day to day operations of the charitable company.
We recruited two new trustees in this period, one with significant experience in primary education in the state system and another who lives in the local community and wishes to support the school's to offer Steiner Waldorf education in the area. This is part of a plan to strengthen our Council and bring in additional skills. We have created new sub-committees of trustees and trust members to tackle promotion and fundraising. We intend to create an Education Committee made up of trustees and staff to better fulfil our statutory responsibilities as school managers.
Trustees continued to meet regularly online, with monthly scheduled meetings. We hope to resume at least some face-to-face meetings soon.
2
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Structure, governance and management (continued)
The methods adopted for the recruitment and appointment of new Trustees
During the year, the Charity was governed by five Trustees. If a vacancy should occur on the Board of Trustees or a suitable opportunity arises, a meeting will then be held to discuss the possible candidates. Following a discussion and vote, the Board would then appoint a new member. The term of office is for an undetermined length of time and can be terminated with agreement of the Trustees.
The policies and procedures adopted for the induction and training of trustees
At present there are no formal policies and procedures for the induction and training of new trustees. These will be developed as and when a new trustee is appointed but any new trustee would, in any event, be directed to the Charity Commission Guidance "The Essential Trustee: What you need to know, what you need to do"(CC3), published in May 2018 and they would receive a briefing from the Chair which gives the necessary information about the Charity, its mission statement, strategic objectives, the history of the charity and be given a copy of the Memorandum and Articles of Association and a Code of Conduct for Trustees.
The methods adopted for the recruitment and appointment of new Trustees
The Charity was governed by five Trustees. If a vacancy should occur on the Board of Trustees or a suitable opportunity arises, a meeting will then be held to discuss the possible candidates. Following a discussion and vote, the Board would then appoint a new member. The term of office is for an undetermined length of time and can be terminated with agreement of the Trustees.
The policies and procedures adopted for the induction and training of trustees
At present there are no formal policies and procedures for the induction and training of new trustees. These will be developed as and when a new trustee is appointed but any new trustee would, in any event, be directed to the Charity Commission Guidance "The Essential Trustee: What you need to know"(CC3), published in March 2012 and they would receive a briefing from the Chair which gives the necessary information about the Charity, its mission statement, strategic objectives, the history of the charity and be given a copy of the Memorandum and Articles of Association and a Code of Conduct for Trustees.
Risk Management
The Trustees have assessed the major risks to which the charitable company is exposed.
The Trustees are satisfied that there are systems in place to mitigate exposure to these major risks.
3
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Objectives and activities
The principal charitable object of Eskdale Community Trust for Education Limited was:
To make available to the public, education founded on the educational principles of the late Dr. Rudolf Steiner.
The Eskdale Community Trust for Education exists to provide a broad range of Waldorf-based educational activities in the Esk Valley and surrounding area. Currently our main activity is primary education (we run the Moorland Waldorf School in North Yorkshire), although, in addition, we offer some activities for adult learners.
In 2021-2022, the school had 9 pupils in kindergarten and 8 in the main class. In 2021, we extended our age range from age 2 to age 11.
In that year, we had three salaried teaching staff, one salaried administrator and a small team of voluntary teachers.
Achievements and performance
The school opened as planned in September 2021, following two years heavily influenced by the pandemic. The school community eagerly anticipated a return to normalcy, underpinned by strict adherence to Covid-related guidelines and preventive measures.
The 2021/22 school year started with a healthy number of pupils both at Main Class (8 pupils) and Kindergarten (9 pupils). A 'Stay & Play' provision was also available on Fridays, attracting regular attendance from local families.
The Board of Trustees discussed the potential expansion of Kindergarten services, including extending the operating days and introducing lunchtime and afternoon sessions. Subsequently, an action plan was established to execute these extended services from September 2022, focusing on the 2022/23 school year.
In December 2021, the school successfully hosted an Advent fair event that garnered very strong participation and collected over £2,500 in donations. The school remains committed to offering high-quality, affordable Waldorf Education to families in the North-East of England. Our school fees are set at the lowest level of any Waldorf school in the country (£3,500 per annum).
In November 2022, the Trust initiated a campaign to recruit new Trustees, specifically targeting individuals with specialised skills in Education, Fundraising, Finance, and HR to support the school's future progression.
4
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Achievements and performance (continued)
Ofsted Inspection
The school underwent a two-part Ofsted inspection in February 2022 and March 2022. The inspection concluded negatively, resulting in an 'Inadequate' rating for the school. Notably, the report expressed concerns about the school's Safeguarding arrangements and Curriculum.
In response, the school formulated a detailed Action Plan outlining improvements based on Ofsted's assessment. Collaborating with the Steiner Waldorf Schools Fellowship, the team developed a strategy integrating best practices from other Waldorf institutions nationwide. The Action Plan was formally submitted to the Department of Education in June 2022. To facilitate the effective execution of the Action Plan, Laura Linklater was recruited as an Education Coordinator in late August 2022. Laura will collaborate closely with the Trustees and the Steiner Waldorf Schools Fellowship, focusing particularly on enhancing Safeguarding and Curriculum as specified in the Ofsted report.
The negative outcome of the Ofsted inspection was a strong disappointment. The experience of the inspection itself had a significant impact on the team, resulting in high levels of stress and emotional pressure.
However the team promptly implemented remedial actions. The period ending August 2022 finished on a more positive note, with a clear course of action documented by the Action Plan submitted to Department of Education. The team is confident that tangible improvement will be demonstrated to Ofsted at the follow-up inspection, expected before the end of the 2022.
Departures of key personnel and closure of the Main Class for school year 2022/23
Shortly after the Ofsted inspection, the two Main Class teachers decided to resign from their positions, their effective departure taking place after the end of the Summer Term.
The Trust immediately launched a recruitment process for a Teacher for the Main Class (school year 2022/23). Unfortunately, after several months of search, the Trust was unable to secure a new Teacher. This is despite having broadened the search to a wider range of profiles, including qualified teachers who would be willing to train to become a Steiner teacher. While most of our volunteer teachers from the Esk Valley Camphill Community remained committed, this would not be enough to cover the full Steiner Waldorf curriculum and a full timetable.
In June 2022, considering the need to urgently provide visibility to families on plans for schoolyear 2022/23, and considering that it was absolutely essential to the continuation of the Main Class to find a teacher, the Trustees made the difficult decision to announce the closure of the Main Class for school-year 2022/23.
The Kindergarten would remain open for schoolyear 2022/23, thanks to its Main Teacher agreeing to continue in the role and to the successful recruitment of an assistant Teacher. Due to the closure of the Main Class, a number of children previously engaged in Kindergarten would no longer be able to attend next year. At the end of the period ending August 2022, it appeared that the Kindergarten would be able to operate, albeit with a reduced number of pupils (about 5).
5
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Achievements and performance (continued)
Finance
The Trust has continued to stabilise its finances during this period, broadly achieving breakeven after gradually reducing a historic deficit.
The school has continued to benefit from the essential support of the Esk Valley Camphill Community, contributing a £25,000 annual grant to the school. The school has also benefited from the contributions of a strong team of volunteers, and from the generosity of the families in our school and wider community, our alumni and our supporters.
The Trust also started fundraising for a Hardship fund dedicated to help parents who have found themselves in financial difficulty, due either to the impact of covid-19 or to other significant changes in their circumstances. Just over £3,000 have been raised in early 2022, enabling special provisions to be provided to several families, ensuring their children would be able to continue benefiting from Waldorf Education.
Financial review
During the period, the Charity received donations amounting to £6,455 (2021 - £2,307) and grant funding totalling £32,054 (2021 - £38,433).
The total expenditure on charitable activities amounted to £65,847 (2021 - £55,859) with governance and other resources expensed totalled £2,833 (2021 - £2,026) during the year.
The total reserves at the year end stand at £91,872 (2021 - £85,734). The total fixed assets of the charity amounted to £2,834 (2021 - £5,667).
Policy on reserves
The Board of Trustees has traditionally held in reserve what it estimates would be the cost of closing the school were it no longer viable. At the time of writing this report (May 2023) we are planning to write a new reserves policy, based on Charity Commission guidance, which will be published on the Moorland Waldorf School website when it is complete.
The trustees keep the viability of the charity under constant review and consider that we will be able to build our resources over the coming three-year period by continued careful management of our finances, promotion of Moorland Waldorf School and all other ECTE activities, and by developing new income streams. Our goal is to continue to be able to fund the activities of the charity into the foreseeable future. All trustees are aware of our responsibilities as charity trustees to manage our funds wisely.
6
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Plans for future periods
Looking ahead
The period ending August 2022 has been challenging for the school. The need to act decisively on the back of a negative Ofsted inspection, while dealing with the departure of the Main Class Teachers, has led to the reluctant decision to close temporarily the Main Class.
At the start of school year 2022/23, the school will be refocused on a Kindergarten only, with a reduced number of pupils. This will allow the school to rebuild a strong foundation, starting with the execution of the Action Plan submitted to the Department of Education in June 2022, which should enable significant improvements to be recognised at the next Ofsted inspection.
From there, the intention is to build from the Kindergarten upwards, eventually reopening a Main Class. The team of Trustees have been actively preparing a new long term vision for the school, along with a development plan which will be shared accordingly.
The Trustees, the school team, the Esk Valley Camphill Community and the community of families, alumni and friends remain fully committed to the future of the Moorland Waldorf School and its mission of providing high quality, affordable Waldorf education in the North East of England.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 26 May 2023 and signed on behalf of the board of trustees by:
TRISTAN ZIPFEL
Trustee
PHILIPPA KANE Trustee
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Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Eskdale Community Trust for Education Limited
Year ended 31 August 2022
I report to the trustees on my examination of the financial statements of Eskdale Community Trust for Education Limited ('the charity') for the year ended 31 August 2022.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
PHILIP J H HOLT FCA FCIE
Independent Examiner
High Park Farm Kirkbymoorside York YO62 7HS
26 May 2023
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Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2022
| Year ended 31 August 2022 | |||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 28,240 | 10,269 | 38,509 | 46,240 |
| Charitable activities | 6 | 31,531 | – | 31,531 | 12,619 |
| Other trading activities | 7 | 4,758 | – | 4,758 | 789 |
| Investment income | 8 | 26 | – | 26 | 44 |
| --------------------------- | --------------------------- | --------------------------- | --------------------------- | ||
| Total income | 64,555 | 10,269 | 74,824 | 59,692 | |
| =========================== | =========================== | =========================== | =========================== | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | 6 | – | 6 | – |
| Expenditure on charitable activities | 10,11 | 61,481 | 7,199 | 68,680 | 57,885 |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Total expenditure | 61,487 | 7,199 | 68,686 | 57,885 | |
| =========================== | ======================= | =========================== | =========================== | ||
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Net income and net movement in | funds | 3,068 | 3,070 | 6,138 | 1,807 |
| =========================== | ======================= | =========================== | =========================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 85,734 | – | 85,734 | 83,927 | |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | ||
| Total funds carried forward | 88,802 | 3,070 | 91,872 | 85,734 | |
| =========================== | ======================= | =========================== | =========================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 11 to 22 form part of these financial statements.
9
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Statement of Financial Position
31 August 2022
| A Company Limited by Guarantee Statement of Financial Position 31 August 2022 |
|||
|---|---|---|---|
| 2022 | 2021 | ||
| Note | £ | £ | |
| Fixed assets | |||
| Intangible assets | 17 | 2,834 | 5,667 |
| Current assets | |||
| Debtors | 18 | 11,506 | 5,000 |
| Cash at bank and in hand | 80,506 | 78,336 | |
| --------------------------- | --------------------------- | ||
| 92,012 | 83,336 | ||
| Creditors: amounts falling due within one year | 19 | 2,974 | 3,269 |
| --------------------------- | --------------------------- | ||
| Net current assets | 89,038 | 80,067 | |
| --------------------------- | --------------------------- | ||
| Total assets less current liabilities | 91,872 | 85,734 | |
| --------------------------- | --------------------------- | ||
| Net assets | 91,872 | 85,734 | |
| =========================== | =========================== | ||
| Funds of the charity | |||
| Restricted funds | 3,070 | – | |
| Unrestricted funds | 88,802 | 85,734 | |
| --------------------------- | --------------------------- | ||
| Total charity funds | 22 | 91,872 =========================== |
85,734 =========================== |
For the year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 26 May 2023, and are signed on behalf of the board by:
SARA LUCASSEN
Trustee
TRISTAN ZIPFEL Trustee
The notes on pages 11 to 22 form part of these financial statements.
10
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Village College, Botton Village, Danby, Whitby, North Yorkshire, YO21 2NJ.
2. Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
Eskdale Community Trust for Education Limited constitutes a public benefit entity as defined by FRS 102.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities, within the next financial year, are the levels of future funding and expenditure on charitable activities.
11
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
12
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website development
- 33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
13
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
14
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
4. Limited by guarantee
Eskdale Community Trust for Education Limited is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
5. Donations and legacies
| Donations and legacies | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations from individuals | 3,040 | 1,000 | 4,040 |
| Donations from giving platforms | 200 | 2,070 | 2,270 |
| Donations from charities and trusts | – | 145 | 145 |
| Legacies | |||
| Estate of Mr J P Critchley | – | – | – |
| Estate of Miss P A Billinton | – | – | – |
| Grants | |||
| Esk Valley Camphill Community | 25,000 | – | 25,000 |
| Coventry University Enterprises Limited | – | – | – |
| North Yorkshire County Council | – | 7,054 | 7,054 |
| Government grant income | – | – | – |
| --------------------------- | --------------------------- | --------------------------- | |
| 28,240 | 10,269 | 38,509 | |
| =========================== | =========================== | =========================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Donations | |||
| Donations from individuals | 807 | 1,500 | 2,307 |
| Donations from giving platforms | – | – | – |
| Donations from charities and trusts | – | – | – |
| Legacies | |||
| Estate of Mr J P Critchley | 500 | – | 500 |
| Estate of Miss P A Billinton | 5,000 | – | 5,000 |
| Grants | |||
| Esk Valley Camphill Community | 25,000 | – | 25,000 |
| Coventry University Enterprises Limited | – | 3,400 | 3,400 |
| North Yorkshire County Council | – | 8,971 | 8,971 |
| Government grant income | 1,062 | – | 1,062 |
| --------------------------- | --------------------------- | --------------------------- | |
| 32,369 | 13,871 | 46,240 | |
| =========================== | =========================== | =========================== |
15
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
6. Charitable activities
| Charitable activities | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Parental contributions to primary | ||||
| school fees | 31,531 | 31,531 | 12,619 | 12,619 |
| =========================== | =========================== | =========================== | =========================== | |
| Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Fundraising events | 4,037 | 4,037 | – | – |
| Art and card sales income | 321 | 321 | 89 | 89 |
| Letting and licensing | 400 | 400 | 700 | 700 |
| ----------------------- | ----------------------- | -------------- | -------------- | |
| 4,758 | 4,758 | 789 | 789 | |
| ======================= | ======================= | ============== | ============== | |
| Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 26 | 26 | 44 | 44 |
| ============== | ============== | ============== | ============== | |
| Costs of raising donations and | legacies | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Costs of raising donations and | ||||
| legacies - Donations | 6 | 6 | – | – |
| ============== | ============== | ============== | ============== |
7. Other trading activities
8. Investment income
9. Costs of raising donations and legacies
16
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
10. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Primary School Education | 52,062 | 7,199 | 59,261 | |
| Support costs | 9,419 | – | 9,419 | |
| --------------------------- | ----------------------- | --------------------------- | ||
| 61,481 | 7,199 | 68,680 | ||
| =========================== | ======================= | =========================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Primary School Education | 39,672 | 8,971 | 48,643 | |
| Support costs | 9,242 | – | 9,242 | |
| --------------------------- | ----------------------- | --------------------------- | ||
| 48,914 | 8,971 | 57,885 | ||
| =========================== | ======================= | =========================== | ||
| Expenditure on charitable activities by activity type | ||||
| Activities | ||||
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Primary School Education | 59,261 | 6,586 | 65,847 | 55,859 |
| Governance costs | – | 2,833 | 2,833 | 2,026 |
| --------------------------- | ----------------------- | --------------------------- | --------------------------- | |
| 59,261 | 9,419 | 68,680 | 57,885 | |
| =========================== | ======================= | =========================== | =========================== | |
| Analysis of support costs | ||||
| Primary | ||||
| School | ||||
| Education | Governance | Total 2022 | Total 2021 | |
| £ | £ | £ | £ | |
| Premises | 887 | – | 887 | 195 |
| Finance costs | 44 | – | 44 | 32 |
| Governance costs | – | 2,833 | 2,833 | 2,026 |
| Amortisation | 2,833 | – | 2,833 | 2,833 |
| Computer supplies and software | 955 | – | 955 | 1,266 |
| Office equipment expensed | – | – | – | 598 |
| Subscriptions | 960 | – | 960 | 1,000 |
| Training | 402 | – | 402 | 320 |
| Legal and professional fees | 480 | – | 480 | 972 |
| Travel expenses | 25 | – | 25 | – |
| ----------------------- | ----------------------- | ----------------------- | ----------------------- | |
| 6,586 | 2,833 | 9,419 | 9,242 | |
| ======================= | ======================= | ======================= | ======================= |
11. Expenditure on charitable activities by activity type
12. Analysis of support costs
17
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
12. Analysis of support costs (continued)
In the current and previous year, included in support costs were governance costs as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Independent Examiners fees | 2,070 | 2,000 |
| Companies House fees | 13 | 26 |
| Penalties | 750 | – |
| ----------------------- | ----------------------- | |
| 2,833 | 2,026 | |
| ======================= | ======================= | |
| Net income | ||
| Net income is stated after charging/(crediting): | ||
| 2022 | 2021 | |
| £ | £ | |
| Amortisation of intangible assets | 2,833 | 2,833 |
| ======================= | ======================= | |
| Independent examination fees | ||
| 2022 | 2021 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 2,070 ======================= |
2,000 ======================= |
13. Net income
14. Independent examination fees
15. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Staff costs | Staff costs | |
|---|---|---|
| The total staff costs and employee benefits for the reporting period are analysed as | follows: | |
| 2022 | 2021 | |
| £ | £ | |
| Wages and salaries | 50,097 | 45,528 |
| Social security costs | 966 | 1,861 |
| Employer contributions to pension plans | 268 | 486 |
| --------------------------- | --------------------------- | |
| 51,331 | 47,875 | |
| =========================== | =========================== |
The average head count of employees during the year was 5 (2021: 4). The average number of full-time equivalent employees during the year is analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Teaching | 4 | 2 |
| Administration | 1 | 1 |
| -------------- | -------------- | |
| 5 | 3 | |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
18
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
16. Trustee remuneration and expenses
None of the Trustees received any emoluments or reimbursed expenses during the current or previous year.
One (2021 - three) of the Trustees was reimbursed expenses in respect of equipment and support costs totalling £199 (2021 food, equipment, subscriptions and Companies House fees - £640) during the year.
17. Intangible assets
| Website | ||
|---|---|---|
| development | ||
| £ | ||
| Cost | ||
| At 1 September 2021 and 31 August 2022 | 8,500 | |
| ======================= | ||
| Amortisation | ||
| At 1 September 2021 | 2,833 | |
| Charge for the year | 2,833 | |
| ----------------------- | ||
| At 31 August 2022 | 5,666 | |
| ======================= | ||
| Carrying amount | ||
| At 31 August 2022 | 2,834 | |
| ======================= | ||
| At 31 August 2021 | 5,667 | |
| ======================= | ||
| Debtors | ||
| 2022 | 2021 | |
| £ | £ | |
| Trade debtors | 9,036 | – |
| Prepayments and accrued income | 400 | 5,000 |
| Other debtors | 2,070 | – |
| --------------------------- | ----------------------- | |
| 11,506 | 5,000 |
|
| =========================== | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 2,013 | 2,000 |
| Social security and other taxes | 894 | 1,174 |
| Other creditors | 67 | 95 |
| ----------------------- | ----------------------- | |
| 2,974 | 3,269 |
|
| ======================= | ======================= |
18. Debtors
19. Creditors: amounts falling due within one year
19
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £268 (2021: £486).
21. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | – | 1,062 |
| ============== | ======================= |
22. Analysis of charitable funds
Unrestricted funds
| At | At | ||||||
|---|---|---|---|---|---|---|---|
| 1 | September | 31 | August | ||||
| 2021 | Income | Expenditure | Transfers | 2022 | |||
| £ | £ | £ | £ | £ | |||
| General funds | 85,734 | 64,555 | (61,487) | – | 88,802 | ||
| =========================== | =========================== | =========================== | ============== | =========================== | |||
| At | At | ||||||
| 1 | September | 31 | August | ||||
| 2020 | Income | Expenditure | Transfers | 2021 | |||
| £ | £ | £ | £ | £ | |||
| General funds | 83,927 | 45,821 | (48,914) | 4,900 | 85,734 | ||
| =========================== | =========================== | =========================== | ======================= | =========================== |
20
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
22. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 September | 31 August | ||||
| 2021 | Income | Expenditure | Transfers | 2022 | |
| £ | £ | £ | £ | £ | |
| Local Authority | |||||
| Education Fund | – | 7,054 | (7,054) | – | – |
| Website and Digital Mag | |||||
| Fund | – | – | – | – | – |
| Hardship Fund | – | 3,070 | – | – | 3,070 |
| School Equipment Fund | – |
145 | (145) | – | – |
| -------------- | --------------------------- | ----------------------- | -------------- | ----------------------- | |
| – | 10,269 | (7,199) | – | 3,070 | |
| ============== | =========================== | ======================= | ============== | ======================= | |
| At | At | ||||
| 1 September | 31 August | ||||
| 2020 | Income | Expenditure | Transfers | 2021 | |
| £ | £ | £ | £ | £ | |
| Local Authority | |||||
| Education Fund | – | 8,971 | (8,971) | – | – |
| Website and Digital Mag | |||||
| Fund | – | 4,900 | – | (4,900) | – |
| Hardship Fund | – | – | – | – | – |
| School Equipment Fund | – |
– | – | – | – |
| -------------- | --------------------------- | ----------------------- | ----------------------- | -------------- | |
| – | 13,871 | (8,971) | (4,900) | – | |
| ============== | =========================== | ======================= | ======================= | ============== |
Local Authority Education Fund - The Local Authority Education Fund was a grant to support the provision early years funding to children aged 3 to 5 years.
Website & Digital Mag - The Website & Digital Mag Fund was part of the Digital Advantage Project, managed by Coventry University Enterprise Limited and part funded by the European Regional Development Fund. This fund was awarded to provide the Charity with a new website and to update the "A Year and a Day" website and magazine.
Hardship Fund - The Hardship Fund was a fundraising appeal dedicated to help parents who have found themselves in financial difficulty, due either to the impact of covid-19 or to other significant changes in their circumstances.
School Equipment Fund - The School Equipment Fund was an application to a charity trust to acquire school equipment which was bought during the year.
21
Eskdale Community Trust for Education Limited
A Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
23. Analysis of net assets between funds
| Analysis of net assets between funds | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Intangible assets | 2,834 | – | 2,834 |
| Current assets | 88,941 | 3,070 | 92,011 |
| Creditors less than 1 year | (2,973) | – | (2,973) |
| --------------------------- | ----------------------- | --------------------------- | |
| Net assets | 88,802 | 3,070 | 91,872 |
| =========================== | ======================= | =========================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Intangible assets | 5,667 | – | 5,667 |
| Current assets | 83,336 | – | 83,336 |
| Creditors less than 1 year | (3,269) | – | (3,269) |
| --------------------------- | -------------- | --------------------------- | |
| Net assets | 85,734 | – | 85,734 |
| =========================== | ============== | =========================== |
22