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2021-08-31-accounts

Company number: 01591107

YORK STEINER SCHOOL LIMITED

(Charity number 511974)

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year ended 31 August 2021

UNAUDITED

HPH Chartered Accountants

54 Bootham

York YO30 7XZ

YORK STEINER SCHOOL LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

CONTENTS Page
Directors' and Trustees' Annual Report 1 - 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Financial Statements 13 - 22
The following page does not form part of the statutory financial statements
Income and Expenditure Account 23

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Reference and administrative information

Charity name: York Steiner School Limited

Charity number: 511974

Company registration number: 1591107

Registered and principal office:

The York Steiner School Danesmead Fulford Cross Fulford York, YO10 4PB

Trustees for the reporting period or on the day of the report:

Fionna McEwan (chair from 15/06/2021) Stuart Towers Paul Dent Sarah-Jane Mills Lyndon Nicholson (from 26/11/2020) Robert Butler (chair, resigned on 15/06/2021) Brook Morrison (resigned on 31/08/2019) Brendan O’Brien (resigned on 03/09/2020)

Key management personnel:

Jane Richardson (from 02/11/2020) Claire Ferguson (from 12/11/2020) Sonia Matthews Eleanor Jones (resigned 31/10/2020) Trevor Edwards (resigned 31/10/2020)

Principal bankers:

National Westminster Bank Plc Triodos Bank Main Street Brunel House Heslington 11 The Promenade York Bristol, YO10 5ZB BS8 3NN

Aldermore Bank PLC 1st Floor, Block B Western House Lynch Wood Peterborough, PE2 6FZ

Independent examiner:

Sarah Wearing FCA, DChA HPH, Chartered Accountants 54 Bootham York YO30 7XZ

1

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

The Directors (who are also the Trustees of the charity and whose details are shown in the reference and administrative section of this report) are pleased to present their Annual Report together with the Financial Statements of the charity for the year ended 31 August 2021.

The Financial Statements comply 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 (FRS102) (effective 1 January 2015) - (Charites SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The Charity is a Public Benefit Entity.

York Steiner School (YSS) was established in 1980 with the aim to advance the education of children in accordance with the Steiner educational principles and with reference, in any event, to the natural processes of growth as they bear upon the unique individuality, special talents and needs of each pupil; and to equip YSS pupils intellectually, emotionally and spiritually to meet the challenges of the future.

YSS has achieved its aims through providing a high standard of education in the reporting period for around 200 pupils, aged from 3-14 years, in a caring and nurturing environment; based on the ongoing successful delivery of the Steiner Waldorf curriculum and Rudolf Steiner’s focus on promotion of the values of social awareness and personal responsibility.

Structure, Governance and Management

YSS is governed as a charitable company limited by guarantee and not having share capital by its Articles and Memorandum of Association and is then constituted in line with the Articles and Memorandum.

The constitutional provision for the recruitment, induction and training for candidates for election to the Board of Trustees (BoT) are set out in the Articles and Memorandum of Association and in the school’s Council Procedure.

The YSS organisation is loosely based on the Rudolf Steiner principle of the Three Fold Social Order in which the Teaching Staff, School Management Group (SMG) and School Association, through the BoT, operate and manage the school, whilst the BoT govern and provide strategic direction. The School Association comprises parents of pupils or staff past and present and, friends of YSS.

The management of YSS reflects the ethos of Rudolf Steiner (i.e. anthroposophy) and embodies the principles of collegial and participatory management. To this end, the School Association is a critical element of YSS management. In 2020/21, meetings of the Association were limited due to the impact of Covid-19.

The BoT has overall responsibility as the governors and proprietors to ensure that YSS meets its legal and financial obligations and to support the delivery of an anthroposophical education. They hold the long-term strategic overview for the school; this is facilitated by Trustees liaising with employees mandated to hold responsibility for each legal, financial and educational aspects of the school. The BoT is also responsible for liaising with the school community via the School Association.

2

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Accountable to the BoT for the day-to-day operations of the school are two full-time employees of the school. The Education Manager is responsible for all activities related to education, care, and wellbeing of the pupils who attend, and teaching staff who work at YSS. The Business Manager is responsible for the running of the school finance office, and administration. The Education Manager and Business Manager ensure the school operates efficiently and effectively in delivering its core educational and business aims.

The Education Manager and Business Manager co-chair the SMG and are accountable to the BoT. The BoT, Education and Business Managers comprise the primary management and leadership of YSS. During 2020/21 the BoT have taken steps to strengthen the management of the school and ensure that there are clear lines of responsibility in all areas. To that end, an experienced school lead has been employed on an interim, part time basis to advise on Ofsted readiness, governance and decision making.

YSS is a member of the Steiner Waldorf Schools Fellowship (SWSF) from which it receives support. The SWSF is the membership organisation for all the Steiner schools and independent Steiner Early Years settings in the UK and Ireland. SWSF aims are to:

Members from both management and leadership of YSS interact with the Fellowship, with particular reference to their conferences, training, guidance, curriculum research and development and consultancy and information services.

Operating Structure

The YSS operating structure recognises that for a school to run in accordance with Steiner ethos, the day-to-day operations of the school must reflect a balance of input from both the education and business management aspects of the school.

Mandate groups

Whilst operations have been restricted due to the Covid pandemic, YSS operates using a system of mandate groups, for example, Estates, Human Resources and Finance. These groups all have a BoT link member, a staff lead who may be from the education or business side of the school, and various members who may be additional members of staff or members of the wider school community, including parents (i.e. from the School Association). They each have their own budget and terms of reference. Following the principle of subsidiarity, mandate groups make their own decisions wherever possible within their areas of competence. The mandate groups are accountable to the SMG which ensures the synchronisation of the educational and operational aspects of the school.

3

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

School Management Group

The SMG holds an overview of operational and educational aspects of YSS and determines midterm and day-to-day management decisions. This is where operational aspects of the school and educational aspects meet to ensure support is in place to provide an effective anthroposophical education at YSS. The SMG comprises employees and representatives of each of the mandate groups. A Trustee attends SMG meetings, as appropriate. The SMG reports regularly to the BoT and is accountable to the BoT. Strategic decisions are referred to the BoT by the SMG for consideration and as appropriate, endorsement or other. The SMG is also utilised as a consultation body for the BoT.

Public Benefit Disclosures

YSS’s purpose is to provide comprehensive, non-denominational and non-sectarian school education for boys and girls from Kindergarten to Class 8 (age 3 -14 years) with space for 275 pupils. In addition, YSS currently runs 8 Parent and Child-groups each week (although these were strongly impacted by Covid-19 during the reporting period).

Through its role of providing education to children up to the age of 14 years and further to its aim to provide this education with as little regard to the parents ability to pay YSS as possible, the BoT confirm it has given due consideration to the Public Benefit requirement under the Charities Act 2011.

Objectives

YSS was established to advance the education of children in accordance with Rudolf Steiner’s educational principles and with reference, in any event, to the natural processes of growth as they bear upon the unique individuality, special talents and needs of each pupil.

The primary objective of YSS is to equip pupils intellectually, emotionally and spiritually to meet the challenges of the future. YSS achieves this through providing a high quality education for around 200 pupils on roll through the Steiner Waldorf curriculum where Rudolf Steiner’s philosophy, views on child development and psychology underpin the school’s educational approach and promotes the values of social awareness and personal responsibility.

The aims of YSS are to provide a place where the natural processes of growth as they bear upon the unique individuality, special talents and needs of each pupil through:

4

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Volunteers

YSS volunteers are critical to operations of the school and are part of the ethos upon which YSS operates. Most volunteers are drawn from the School Association. Volunteers assist with the preparation of meals in the school Café, clean classrooms, assist with reading in younger grades and so forth. Volunteers are also critical to YSS fundraising activities, including at the St Crux Café, the Advent and Spring Fairs, weekly bake sales and Class 8 trip fundraising initiatives, and other ad hoc activities (all impacted by Covid-19 in the reporting period).

Parents/carers also give four hours of work per family at the end of each academic year during the workweek to carry out tasks to ready the school for the next academic year.

Social Investment, Achievements and Performance

YSS achieves its aims through the delivery of a high standard of teaching and educational experience for all its pupils aged from 3-14 years in the school.

The YSS social investment policy is then to use any capital and revenue generated by its activities to advance its charitable purpose through the education of children in accordance with the Steiner educational principles in York.

Activities, Achievements and Performance

As a charity established to advance the education of the children in York in accordance with the Steiner educational principles, our charitable activities are bound up with our continued success in operating the school. The criteria used to measure progress, our successes and performance are set out in the relevant sections of the YSS Strategy which looks at how the school:

During the reporting period, significant activities that took place include:

Further details around this are contained in the YSS Strategy.

5

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Fundraising

Fundraising activities, expenditure to promote the school, or advertise fundraising activities and other income is included in the Annual Report and Financial Statement.

Fundraising was severely impacted by the advent of Covid-19 and the impact of lockdowns and social distancing in the reporting period.

Financial review

The 2020/21 year was challenging financially for York Steiner School, with a number of children leaving, largely due to the challenges of the Covid pandemic.

The Trustees have put plans in place for a significant review of YSS’s financial funding model during 2021/22 to ensure that the financial loss seen in 2020/21 is not repeated. The Board has also overseen a drive to ensure that the school is ready for the next Ofsted visit, recognising that a “Good” or better rating is important in ensuring that new families can be attracted to the school.

The continued use of a direct debit based contribution scheme and the active monitoring and management of overdue payments by the finance team, which was further strengthened during 2020/21, has significantly helped to reduce the risk of bad debt and increase confidence in the effective management and reporting of the YSS financial position during the reporting period.

The financial position is detailed in the Financial Statements. The final outturn for the year on all funds was a deficit of £134,939 as the impact of the pandemic was felt (2020, £8,413).

Total income decreased during the year by £25,149; despite Parental contributions increasing by around £17,000. This was largely due to the impact of the Covid-19 pandemic on fundraising and family incomes.

Expenditure increased by £101,377 as the school focused on necessary improvements.

Unrestricted funds - general reserve: The balance at 31 August 2021 was £372,292 (2020 - £491,856).

Unrestricted funds - designated reserve: The balance at 31 August 2021 was £11,051 (2020 - £26,426).

Restricted funds - The balance at 31 August 2021 was £11,987, no movement from 2020.

Cash at bank and in hand decreased during 2020/21 to £198,189 (2020 -£261,829).

6

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Investments

YSS policy is to reinvest all profits into the operation and maintenance of the school or hold this as limited operating or cash reserve, for the period reported.

As the budget was set to provide a small surplus, there is neither an investment policy nor objective.

Key risks and uncertainties disclosures the existential risks for YSS are based around:

These are reviewed and managed on an on-going basis by the leadership and management of YSS.

Plans for future periods

Future plans and activities are set out in the School Development plan.

Plans include a root and branch review of the school financial model during 2021/22 to ensure that the school is put onto a stronger and resilience financial footing. Further steps will also be taken to strengthen the leadership of the school and build the Trustee body.

In summary, YSS will continue to build on the successes and performance as noted in the Activities, Achievements and Performance section of this report.

Pension Liabilities

YSS has no liabilities arising from obligations to a defined pension scheme or pension assent on the charity's financial position.

Funds in deficit, Reserves and Financial Statements

For the reporting period, the YSS formal reserves policy was reviewed and the reserves policy which the YSS Operating Reserves fund, will target two months of average operating costs and this has been put in place and maintained.

No funds were materially in deficit at the end the period as reported in the Annual Report and Financial Statements. Total and Restricted funds held at the end the period is reported in the YSS Annual Report and Financial Statements.

7

YORK STEINER SCHOOL LIMITED DIRECTORS’ AND TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Statement of Trustees’ and Directors’ responsibilities

Company law requires the trustee directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its income and expenditure for the financial year. In preparing those financial statements, the trustees should follow best practice and are required to:

The trustee directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements 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.

Exemption This report has been prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies.

Approved by the Board of Trustees on 28 March 2022 and signed on its behalf by:

………………………..

Anthony Paul Dent

Director and Trustee

8

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF YORK STEINER SCHOOL LIMITED

I report to the charity trustees on my examination of the financial statements of the Company for the year ended 31 August 2021.

This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company’s trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner’s work has been undertaken so that I might state to the charitable company’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company’s trustees as a body for my independent examiner’s work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s financial statements 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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. 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 financial statements 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 financial statements to be reached.

Sarah Wearing FCA, DChA HPH, Chartered Accountants 54 Bootham York YO30 7XZ 28 March 2022

9

YORK STEINER SCHOOL LIMITED STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Unrestricted
Funds
£
17,813
608,882
128,263
83,044
888		 Designated
Funds
£
144
-
15,135
4,345
-		 Restricted
Funds
£
-
-
8,757
-
-		 Total
2021
£
17,957
608,882
152,155
87,389
888		 Total
2020
£
49,398
591,738
149,172
99,749
2,363
£ 838,890 £ 19,624 £ 8,757 £ 867,271 £ 892,420
39,176
930,186		 -
24,091		 -
8,757		 39,176
963,034		 52,269
848,564
£ 969,362 £ 24,091 £ 8,757 £ 1,002,210 £ 900,833
(130,472)
10,908		 (4,467)
(10,908)		 -
-		 (134,939)
-		 (8,413)
-
(119,564)
491,856		 (15,375)
26,426		 -
11,987		 (134,939)
530,269		 (8,413)
538,682

The notes on pages 13 to 22 form part of these financial statements. Income and net movement in funds derive wholly from continuing operations.

10

YORK STEINER SCHOOL LIMITED BALANCE SHEET AS AT 31 AUGUST 2021

Company number: 01591107

Note
Fixed assets:
Tangible assets
10
Investments
11
Total Fixed Assets
Current assets:
Stocks
Debtors
12
Cash at bank and in hand
23
Total Current Assets
Liabilities:
Creditors: amounts falling due
within one year
13
Net current assets
Total assets less current liabilities
14
Total net assets
The funds of the charity:
Unrestricted funds
17
Designated funds
17
Restricted funds
16
Total charity funds
Creditors: amounts falling due after more than
one year		 £
£
332,532
100
332,632
2,800
92,079
198,189
293,068
(83,942)
209,126
541,758
(146,428)
£ 395,330
372,292
11,051
11,987
£ 395,330
2021		 £
£
332,532
100
332,632
2,800
92,079
198,189
293,068
(83,942)
209,126
541,758
(146,428)
£ 395,330
372,292
11,051
11,987
£ 395,330
2021		 £
£
359,563
100
359,663
2,800
87,361
261,829
351,990
(64,403)
287,587
647,250
(116,981)
£ 530,269
491,856
26,426
11,987
£ 530,269
2020		 £
£
359,563
100
359,663
2,800
87,361
261,829
351,990
(64,403)
287,587
647,250
(116,981)
£ 530,269
491,856
26,426
11,987
£ 530,269
2020
332,632
209,126		 359,663
287,587
293,068
(83,942)		 351,990
(64,403)
541,758
(146,428)		 647,250
(116,981)
£ 395,330 £ 530,269
372,292
11,051
11,987		 491,856
26,426
11,987
£ 395,330 £ 530,269

In the Directors' and Trustees' opinion the Charitable Company was entitled under section 477 of the Companies Act 2006 ('the Act') to exemption from the audit of its financial statements for the year ended 31 August 2021. No notice from members requiring an audit has been deposited under section 476 of the Act in relation to its accounts for the financial period. The Directors and Trustees are responsible for ensuring that the Charitable Company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the Charitable Company as at the end of each financial period and of its income and its expenditure for each period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with its requirements, so far as applicable to the Charitable Company.

The accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies.

Approved by the Directors and Trustees on 28 March 2022. and signed on their behalf by:

Anthony Paul Dent Director and Trustee

The notes on pages 13 to 22 form part of these financial statements.

11

YORK STEINER SCHOOL LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2021

Note
22
Cash flow from investing activities:
Purchase of tangible fixed assets
Cash flow from financing activities:
Cash and cash equivalents at end of the year
Net cash provided by operating activities
Net cash used in investing activities
Net cash used in financing activities
Change in cash and cash equivalents in the
year
Cash and cash equivalents at beginning of the
year
Increase / (Decrease) of borrowings		 £
£
(91,973)
(4,472)
(4,472)
32,805
32,805
(63,640)
261,829
£ 198,189
2021		 £
£
(91,973)
(4,472)
(4,472)
32,805
32,805
(63,640)
261,829
£ 198,189
2021		 £
£
44,803
(14,187)
(14,187)
(16,696)
(16,696)
13,920
247,909
£ 261,829
2020		 £
£
44,803
(14,187)
(14,187)
(16,696)
(16,696)
13,920
247,909
£ 261,829
2020
32,805 (16,696)
(63,640)
261,829		 13,920
247,909
£ 198,189 £ 261,829

The notes on pages 13 to 22 form part of these financial statements.

12

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1 ACCOUNTING POLICIES

Legal entity

York Steiner School Limited is regulated by the Charities Commission (511974), limited by guarantee and is registered in England and Wales. The Address of the registered office and principal place of business is York Steiner School, Danesmead, Fulford Cross, York, YO10 4PB.

In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member of the charity.

Basis of preparation

The Accounts 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 (FRS102) (effective 1 January 2019) - (Charites SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

York Steiner School meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The directors and trustees have a reasonable expectation that the charitable company had adequate resources to continue in operational existence for the foreseeable future. The charitable company has cash resources and long term finance provided by Triodos Bank. In assessing going concern they have assumed that the loan will continue to be repaid at the current levels for the foreseeable future. Special consideration has been given to COVID-19. The Governors have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the School to continue in operational existence for the foreseeable future, and have adequate contingency plans in the event that income streams are reduced. Consequently the financial statements have been prepared on the basis that the School is a going concern.

Fees and other income

Parental contributions, charges for services and use of premises are accounted for in the period in which the service is provided.

Donations

Donations receivable for the general purpose of the School are credited to "unrestricted funds". Donations for purposes restricted by the wishes of the donor are taken to "restricted funds" where these wishes are legally binding on the Trustees.

Other trading activities

All other income is included in the Statement of Financial Activities (SOFA) when the School is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Expenditure and irrecoverable VAT

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Overheads and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year, either by reference to staff time or space occupied, as appropriate. The irrecoverable element of VAT is included with the item of expense to which it relates.

Governance costs are costs associated with constitutional and statutory requirements. They include examination fees and estimated costs linked to the strategic management of the School. Support costs are those incurred directly in support of expenditure on the objects of the School.

Fixed asset investments

Investments are stated at cost or estimated value on acquisition as it is not possible to readily ascertain their market values.

Tangible fixed assets

Alteration and improvement expenditure on freehold property is treated as capital if it results in additional floor area for use of the School. Otherwise it is charged to revenue as maintenance of buildings.

13

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

1 ACCOUNTING POLICIES (continued)

Depreciation

Depreciation is calculated to write off the cost of fixed assets over their expected useful lives. The rates used are as follows:

Freehold buildings 2% per annum straight line Fixtures, fittings and equipment 15% per annum reducing balance Leased assets straight line over the period of the lease Property improvements 2% per annum straight line Boiler and heating system 5% per annum straight line Computer equipment 25% per annum straight line Books nil

Operating leases

Rentals payable under operating leases are charged in the SOFA on a straight line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Debtors

Trade and other debtors are recognised at the settlement amont due after any trade dicount offered. Prepayments are valued at the amount prepaid net of any trade dicounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Funds Structure

Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the directors/trustees. Designations of unrestricted funds are made at the directors'/trustees' discretion in order to make allocations for anticipated future expenditure.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for a particular purpose.

Restricted funds are funds which are subject to specific trusts, either declared by the donor when making the donation or grant conditions, or accepted by the donor in responding to a specific appeal.

Pensions

Employees are entitled to join the School's auto enrolment pension scheme operated by NEST. The School's contributions made for the accounting period are treated as an expense and are restricted to the contributions disclosed in note 9. There were no outstanding contributions at the year end. The costs of the scheme are included within direct charitable expenditure: provision of education.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

14

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

2 TAXATION

As a registered charity, York Steiner School Limited is exempt from the tax on income falling within sections 466 to 493 of the Corporation Tax Act 2010 to the extent that this is applied to its charitable objects. No tax charges have arisen in the Company.

3 OPERATING SURPLUS

3
OPERATING SURPLUS
2021
2020
£
£
The income for the year is stated after charging:
Depreciation
31,503
30,482
Independent examination fee
2,160
2,160
Accountancy fees: statutory accounts production and taxation compliance
4,915
2,278
4
INCOME FROM CHARITABLE ACTIVITIES
2021
2020
£
£
Parental contributions
£ 608,882
£ 591,738
Other income
Class trips, activities and workshops
14,725
15,594
Grants received
57,227
58,519
Early years' scheme from the City of York Council
51,389
58,141
Other income
28,814
16,918
£ 152,155
£ 149,172
5
INCOME FROM OTHER TRADING ACTIVITIES
Fundraising
10,561
14,172
Trading activities
17,174
23,031
Hire of school premises
59,654
62,546
£ 87,389
£ 99,749
6
INTEREST RECEIVABLE AND SIMILAR INCOME
Bank interest
£ 888
£ 2,363
7
INTEREST PAYABLE AND SIMILAR CHARGES
Loan, lease and bank interest
£ 5,433
£ 6,370
Included in grants received is £48,469 (2020: £57,518) relating to the Government Coronavirus Job Retention Scheme.		 2021
£
31,503
2,160
4,915		 2020
£
30,482
2,160
2,278
2021
£
£ 608,882		 2020
£
£ 591,738
14,725
57,227
51,389
28,814		 15,594
58,519
58,141
16,918
£ 152,155 £ 149,172
£ 87,389 £ 99,749
£ 888 £ 2,363
£ 5,433 £ 6,370

15

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

8 ANALYSIS OF TOTAL EXPENDITURE

Unrestricted
funds
£
Costs of raising funds
Shop cost of sales
4,345
Café expenses
34,831
Fundraising and publicity
-
Cost of raising funds
39,176
Charitable activities
Provision of education
Staff payments and expenses
598,288
Courses and conference costs
28,373
Educational materials
18,905
645,566
Support costs
Administrative salaries
99,021
Rates and water
14,997
Light and heat
27,743
Repairs and renewals
35,600
Insurance
17,841
Printing, stationery and postage
4,028
School prospectus costs
-
Class trips, activities and workshops
6,586
Telephone
1,916
Cleaning
15,357
Leasing
1,817
Bad and doubtful debts
3,320
Sundry expenses
-
Depreciation
31,503
259,729
Governance Costs
9,667
S. W. S. F. payment
9,791
School inspection
-
Interest and charges payable
5,433
Legal and professional fees
-
24,891
Cost of charitable activities
£ 930,186
Total Expenditure
£ 969,362
Independent examination and
accountancy		 Unrestricted
funds
£
4,345
34,831
-		 Designated
funds
£
-
-
-		 Restricted
funds
£
-
-
-		 Total
2021
£
4,345
34,831
-		 Total
2020
£
20,937
31,104
228
- - 39,176 52,269
598,288
28,373
18,905		 -
3,464
-		 -
-
-		 598,288
31,837
18,905		 571,307
18,073
11,580
645,566
99,021
14,997
27,743
35,600
17,841
4,028
-
6,586
1,916
15,357
1,817
3,320
-
31,503		 3,464
-
-
-
500
-
-
-
20,127
-
-
-
-
-
-		 -
-
-
-
8,757
-
-
-
-
-
-
-
-
-
-		 649,030
99,021
14,997
27,743
44,857
17,841
4,028
-
26,713
1,916
15,357
1,817
3,320
-
31,503		 600,960
45,743
14,575
29,874
28,208
22,872
3,313
-
25,549
1,623
10,556
692
4,920
618
30,482
259,729
9,667
9,791
-
5,433
-		 20,627
-
-
-
-
-		 8,757
-
-
-
-
-		 289,113
9,667
9,791
-
5,433
-		 219,025
7,030
9,491
-
6,370
5,688
24,891 - - 24,891 28,579
£ 24,091 £ 8,757 £ 963,034 £ 848,564
£ 969,362 £ 24,091 £ 8,757 £ 1,002,210 £ 900,833

In 2020, expenditure on charitable activities amounting to £25,549 related to designated funds and £332 related to restricted funds.

16

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

9 TOTAL EXPENDITURE

Staff
Other
costs
Depreciation
costs
£
£
£
Costs of raising funds
-
-
39,176
Charitable activities
697,309
31,503
234,222
£ 697,309
£ 31,503
£ 234,222
Staff costs:
Wages and salaries
Pension costs
Social security costs
The average number of employees during the year was as follows:
Provision of education
Administrative salaries		 Staff
costs
£
-
697,309		 Depreciation
£
-
31,503		 Other
costs
£
39,176
234,222		 Total
2021
£
39,176
963,034		 Total
2020
£
52,269
848,564
£ 697,309 £ 31,503 £ 234,222 £ 963,034 £ 848,564
2021
£
648,565
11,210
37,534		 2020
£
584,623
7,988
24,439
£ 697,309 £ 617,050
46
14		 56
9
60 65

No employee received remuneration and benefits in excess of £60,000 (2020 - none).

The key management personnel of the charity, comprise the Trustees, Administrator, Finance Manager, Education Manager and School Business Managers. The total employee benefits of the key management personnel of the charity were £116,463 (2020 - £81,934)

There is a long standing salary scale, which determines the starting salary of a new member of staff. Based on affordability, Trustees decide whether to apply an increment to this each year. Trustees will also decide on potential pay rises.

10 TANGIBLE FIXED ASSETS

ANGIBLE FIXED ASSETS
Fixtures, Freehold
Fittings and Land and Plant and
Equipment Buildings Machinery Total
£ £ £ £
Cost:
At 1 September 2020 469,045 349,276 9,556 827,877
Additions - - 4,472 4,472
At 31 August 2021 469,045 349,276 14,028 832,349
Depreciation:
At 1 September 2020 317,647 143,279 7,388 468,314
Charge for the year 22,566 6,926 2,011 31,503
At 31 August 2021 340,213 150,205 9,399 499,817
Net book values:
31 August 2021 £ 128,832 £ 199,071 £ 4,629 £ 332,532
31 August 2020 £ 151,398 £ 205,997 £ 2,168 £ 359,563

Freehold land and buildings were valued at £1,450,000 in August 2006, by a firm of chartered surveyors.

17

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

11 FIXED ASSET INVESTMENTS

On 19 December 1996 the School received a free distribution of Triodos Bank NV shares (a company based in the Netherlands) valued at £100. The fixed asset investment relates to unrestricted funds.

12
Trade debtors
Other debtors
Prepayments and accrued income
13
CREDITORS amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Accruals and deferred income
Taxation and social security
Other creditors
14
CREDITORS amounts falling due after one year
Bank loans
15
Borrowings
Repayable with 1 year
Repayable between 1 - 2 years
Repayable between 2 - 5 years
Repayable in 5 years and more
All creditors falling due within one year relate to unrestricted funds.
All debtors relate to unrestricted funds.
DEBTORS		 2021
£
69,483
5,629
16,967		 2020
£
74,076
6,195
7,090
£ 92,079 £ 87,361
2021
£
18,243
23,373
11,671
9,529
21,126		 2020
£
14,885
18,385
6,614
9,153
15,366
£ 83,942 £ 64,403
2021
£
146,428		 2020
£
116,981
18,243
24,613
75,334
46,481		 14,885
14,885
44,656
72,325
£ 164,671 £ 146,751

The bank loan is secured by first legal charge dated 15 May 2007 over freehold property known as York Steiner School, Danesmead, Fulford Cross, York, YO10 4PB.

The interest rate of the loan is 1.75% over the base rate.

All creditors falling due after one year relate to unrestricted funds.

18

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

16 RESTRICTED FUNDS

Cultural fund
Flow form fund
Dragon boat race
Special needs
Bike shed fund
Anthroposophy education for adults
Disabled access appeal
Cultural fund
Flow form fund
Dragon boat race
Special needs
Anthroposophy education for adults		 Balance at
1 Sept 20
£
500
953
7,128
3,211
-
195		 Income
£
-
-
-
-
8,757
-		 Expended
£
-
-
-
-
(8,757)
-		 Transfers
£
-
-
-
-
-
-		 Balance at
31 Aug 21
£
500
953
7,128
3,211
-
195
£ 11,987 £ 8,757 £ (8,757) £ - £ 11,987
Balance at
1 Sept 19
£
-
500
953
7,128
3,211
195		 Income
£
-
-
-
-
-
-		 Expended
£
(332)
-
-
-
-
-		 Transfers
£
332
-
-
-
-
-		 Balance at
31 Aug 20
£
-
500
953
7,128
3,211
195
£ 11,987 £ - £ (332) £ 332 £ 11,987

Disabled access appeal

The disabled access appeal is a fund in which specific donations were received towards the cost of the maintenance of the lift and ramp providing the disabled access to the School.

Cultural fund

The Cultural fund is in respect of donations received for the purpose of promoting cultural improvements in the pupils of the School.

Flow form fund

The Flow form fund is in respect of donations received to be used for the purpose of purchasing a "Flow Form" water sculpture for the School.

Dragon boat race

This relates to donations from the Rotary Club of York after their fundraising dragon boat race and are to be used for playground development.

Special needs

This is to provide educational assistance for children, over and above that which can be provided by the class teacher alone, and to provide practical assistance to enable access to education where deemed necessary.

Bike shed fund

This was a grant from City of York Council to replace to current bike shed at the school.

Anthroposophy education for adults

Gathering fundings are for the purpose of anthroposophy-related adult education events at YSS (mainly the autumn/spring/summer gatherings), and all their attached costs (payment for content providers and their travel expenses, venue hire for summer gatherings, creche providers, craft materials, etc.). The mandate responsible for planning and costing these events is The Adult Learning Group at YSS (part of the Association).

19

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

17 UNRESTRICTED FUNDS

Balance at
1 Sept 20
£
491,856
18,225
5,829
372
2,000
-		 Income
£
838,890
19,534
-
-
-
90		 Expended
£
(969,362)
(23,591)
(500)
-
-
-		 Transfers
£
10,908
(8,908)
-
-
(2,000)
-		 Balance at
31 Aug 21
£
372,292
5,260
5,329
372
-
90
£ 518,282 £ 858,514 £ (993,453) £ - £ 383,343
Balance at
1 Sept 19
£
499,203
19,533
5,587
372
2,000		 Income
£
867,709
24,469
242
-
-		 Expended
£
(874,724)
(25,777)
-
-
-		 Transfers
£
(332)
-
-
-
-		 Balance at
31 Aug 20
£
491,856
18,225
5,829
372
2,000

The designated funds are funds set aside by the Trustees for the classes and departments to spend on future projects. The Trustees have reassessed the need for some of the designated funds and as a result have transferred funds from the general unrestricted reserve to respective designated funds.

18 OPERATING LEASE COMMITMENTS

As at 31 August 2020 the School had annual commitments under non-cancellable operating leases as follows:

Not later than one year
Later than one year and not later than five years		 2021
£
692
1,799		 2020
£
692
2,491
£ 2,491 £ 3,183

Lease payments are recognised as an expense in the Statement of Financial Activities.

20

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

19 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible
fixed assets
£
332,532
-
-		 Investments
£
100
-
-		 Net current
assets
£
186,088
11,051
11,987		 Long
term
liabilities
£
(146,428)
-
-		 Total
2021
£
372,292
11,051
11,987
£ 332,532 £ 100 £ 209,126 £ (146,428) £ 395,330
Tangible
fixed assets
£
359,563
-
-		 Investments
£
100
-
-		 Net current
assets
£
249,174
26,426
11,987		 Long
term
liabilities
£
(116,981)
-
-		 Total
2020
£
491,856
26,426
11,987

20 RELATED PARTIES

York Steiner School Limited made contributions to the Steiner Waldorf Schools Foundation of £9,491 (2020 - £9,491).

During the year a total of £nil (2020 - £nil) was paid to trustees in the form of thank-you gifts. No other expenses were reimbursed to members of the Board of Trustees during the year (2020 - £nil).

No remuneration was paid to any Board of Trustee member during the year (2020 - None). The spouse of trustee Stuart Towers is employed as a learning support, the spouse of trustee Fiona McEwan worked temporarily as learning support, and the spouse of Paul Dent is employed as the special needs coordinator. All are employed under a contract of employment with normal terms and conditions.

At the year end a parent trustee owed £3,917.

There were no other related parties in the year.

21 COMPANY STATUS

The charity is a company limited by guarantee. The members of the company are the members of the Board of Directors and Trustees named on page 4. In the event of the charity being wound up the liability of the guarantee is limited to £5 per member of the charity.

22 RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES
Net (expenditure) for the year
Adjustments for:
Depreciation of tangible fixed assets
Decrease in stocks
(Increase) / decrease in debtors
Increase / (decrease) in debtors
Net cash provided by operating activities
23 ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash at bank and in hand
Total cash and cash equivalents		 2021
£
(134,939)
31,503
-
(4,718)
16,181		 2020
£
(8,413)
30,482
15,732
11,511
(4,509)
£ (91,973) £ 44,803
2021
£
198,189		 2020
£
261,829
£ 198,189 £ 261,829

21

YORK STEINER SCHOOL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 CONTINUED

24 ANALYSIS OF CHANGES IN NET DEBT

Cash
Loans falling due within one year
Loans falling due after more than one year		 At
01 September 2020
261,829
(14,885)
(131,866)		 Cash-flows
(63,640)
(3,358)
(14,562)		 At
31 August 2021
198,189
(18,243)
(146,428)
115,078 (81,560) 33,518

25 VOLUNTEERS

The school is lucky to be supported by volunteers. They primarily help in the preparation of meals in the Café and running the school shop to raise funds for class trips and in other fundraising activities. These include the York Dragon Boat Race, The St Crux Café, Craft and Book sales and other ad hoc activities.

Parents volunteer to organise and run the Advent and Spring fairs and help prepare the school through two hours of work per parent at the end of each year during work week. Parents also help by cleaning and tidying their children’s class room every weekend during term time.

26 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

Income and endowments from:
Donations
Charitable activities
Parental contributions
Other income
Other trading activities
Investment income
Total
Expenditure on:
Costs of raising funds
Charitable activities
Total
Net (expenditure) / income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
45,715
591,738
128,144
99,749
2,363		 Designated
Funds
£
3,683
-
21,028
-
-		 Restricted
Funds
£
-
-
-
-
-		 Total
2020
£
49,398
591,738
149,172
99,749
2,363		 Total
2019
£
42,242
627,975
112,978
145,672
2,255
£ 867,709 £ 24,711 £ - £ 892,420 £ 931,122
52,041
822,683		 228
25,549		 -
332		 52,269
848,564		 51,339
862,408
£ 874,724 £ 25,777 £ 332 £ 900,833 £ 913,747
(7,015)
(332)		 (1,066)
-		 (332)
332		 (8,413)
-		 17,375
-
(7,347)
499,203		 (1,066)
27,492		 -
11,987		 (8,413)
538,682		 17,375
521,307
£ 491,856 £ 26,426 £ 11,987 £ 530,269 £ 538,682

22

The following page does not form part of the statutory financial statements

YORK STEINER SCHOOL LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021

Income
Parental contributions
Class trips, activities and workshops
Grant income
Donations
Fundraising
Early years' scheme
Parent and toddlers
Hire of school premises: courses
Interest received
Hire of school premises: business wing
Childcare provision
Sundry receipts
Café sales
Shop income
Expenditure
Staff payments and expenses
Fundraising costs
Courses and conference costs
Rates and water
Light and heat
Repairs and renewals
Insurance
Café purchases
Shop cost of sales
Printing, stationery and postage
Educational materials
Class trips, activities and workshop expenses
Loan interest
Telephone
Bank charges and interest
Cleaning
Operating leasing costs
S.W.S.F. payment
Examination, accountancy and payroll fees
Legal fees
Bad debts
Sundry expenses
(Deficit) / Surplus for the year before depreciation
Depreciation and impairment write offs
NET (DEFICIT) / SURPLUS FOR THE YEAR		 £
£
608,882
14,725
57,227
17,957
10,561
51,389
25,223
8,359
888
51,295
1,749
1,842
17,174
-
867,271
726,262
-
31,837
14,997
27,743
44,857
17,841
10,223
-
4,028
18,905
26,713
1,736
1,916
3,697
15,357
1,817
9,791
9,667
-
3,320
-
(970,707)
(103,436)
(31,503)
£ (134,939)
2021		 £
£
608,882
14,725
57,227
17,957
10,561
51,389
25,223
8,359
888
51,295
1,749
1,842
17,174
-
867,271
726,262
-
31,837
14,997
27,743
44,857
17,841
10,223
-
4,028
18,905
26,713
1,736
1,916
3,697
15,357
1,817
9,791
9,667
-
3,320
-
(970,707)
(103,436)
(31,503)
£ (134,939)
2021		 £
£
591,738
15,594
58,519
49,398
14,172
58,141
13,812
12,169
2,363
50,377
2,123
983
15,842
7,189
892,420
646,003
228
18,073
14,575
29,874
28,208
22,872
6,496
16,592
3,313
11,580
25,549
2,511
1,623
3,859
10,556
692
9,491

7,030
5,688
4,920
618
(870,351)
22,069
(30,482)
£ (8,413)
2020		 £
£
591,738
15,594
58,519
49,398
14,172
58,141
13,812
12,169
2,363
50,377
2,123
983
15,842
7,189
892,420
646,003
228
18,073
14,575
29,874
28,208
22,872
6,496
16,592
3,313
11,580
25,549
2,511
1,623
3,859
10,556
692
9,491

7,030
5,688
4,920
618
(870,351)
22,069
(30,482)
£ (8,413)
2020
867,271
(970,707)		 892,420
(870,351)
(103,436)
(31,503)		 22,069
(30,482)
£ (134,939) £ (8,413)

23