**Charity number: 527552 Registered Number: 00413810 England and Wales** 

## **Sunfield Children’s Homes Ltd** 

_(A Private Limited Company)_ 

# **Trustees’ Report and Financial Statements** 

_For the year ended 31 August 2025_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **CONTENTS** 

||**Page**|
|---|---|
|Legal and Administrative Information|3|
|Report of the Trustees|4|
|Independent Auditor’s Report|10|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Cash Flow Statement|16|
|Notes to the Financial Statements|17|



_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Legal and Administrative Information** 

|**Trustees**|Aonghus Gordon OBE||
|---|---|---|
||Tara Gratton||
||Helen Kippax||
||Constantin Court||
||Janine Christley||
||Vivian Griffiths||
||Dr Tobias Zundel (resigned 7 November 2024)||
|**Company Secretary**|Elisabeth Johnson||
|**Key Management Personnel**|Aonghus Gordon OBE–Founder & Executive Chair (resigned from||
||Executive Team on 1 September 2025)||
||Tara Gratton–CEO||
||Shazuli Iqbal–Chief Financial Officer||
||Lindsay Wilkinson–Chief People Officer||
|**Registered Number**|00413810||
|**Charity Number**|527552||
|**Registered Office**|Ruskin Mill||
||Millbottom||
||Nailsworth||
||Stroud||
||Gloucestershire||
||GL6 0LA||
|**Principal Office**|Sunfield Garden Schooland Children’s Home||
||Clent Grove||
||Stourbridge||
||West Midlands||
||DY9 9PB||
|**Auditor**|RSM UK Audit LLP||
||10th Floor||
||103 Colmore Row||
||Birmingham||
||B3 3AG||
|**Bankers**|Lloyds Bank Plc|Brewin Dolphin Ltd|
||12 Rowcroft|81 Colmore Row|
||Stroud|Birmingham|
||Gloucestershire|B3 2AP|
||GL5 3BD||
|**Solicitors**|RWK Goodman||
||69 Carter Lane||
||London||
||EC4V 5EQ||



_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Report of the Trustees** 

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year to 31 August 2025. 

## **Governing document** 

Sunfield Children's Homes Ltd, “Sunfield”, is registered with the Department for Education under sections 347(l) and (3) of the 1996 Education Act as an independent residential school suitable for pupils with severe learning difficulties. It is registered as a Children's Home under the Care Standards Act 2000 and is governed by the regulations of this Act. 

It is a registered charity in England and Wales (registered number: 527552) and is constituted as a company in England and Wales (registered number: 00413810), limited by shares. Its objectives, powers and other constitutional matters are set out in its Memorandum & Articles of Association. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Group Structure** 

Sunfield Children’s Homes Ltd is part of the Ruskin Mill Trust Ltd group. Sunfield trades as Sunfield Garden School and Children’s Home. 

The whole of the issued share capital of 100 £1 ordinary shares is owned by Ruskin Mill Trust Ltd. As Trustees of the Charity and Directors of the Company, members of the Governing Body are legally responsible for the overall management and control of the charity. The main Trustee body meets at least four times a year. 

Sunfield fulfils its charitable objects by operating from its site at Clent Grove. 

The registered office of Sunfield is Ruskin Mill, Millbottom, Nailsworth, Stroud, GL6 0LA and the principal office is Sunfield Garden School and Children’s Home, Clent Grove, Stourbridge, West Midlands, DY9 9PB. 

## **Recruitment and appointment of new Trustees** 

The charity’s practice regarding recruitment has been for members of the Board to make recommendations for suitably skilled and experienced people who are then appraised by Ruskin Mill Trust Ltd.’s Board of Trustees which makes the final decision. 

Induction and training are carried out during the meeting cycle, and members are also invited to training within Ruskin Mill Trust’s other provisions. During the year, individual Trustees undertook a range of appropriate training. 

## **Organisational Management** 

The Trustees delegate the day to day running of the provision to a local management team who oversee operations, and which reports to Ruskin Mill Trust Ltd.’s CEO. The key management personnel are listed on page 3. The Trustees did not receive any remuneration from Sunfield in the current or previous period. Five of the six Trustees are employed by the parent entity. The remuneration of key management personnel is included in Note 6. 

## **Directors and Trustees** 

The Trustees during the year are listed on page 3. 

## **Risk Management** 

A description of the principal risks and uncertainties facing Sunfield, as identified by Trustees, together with a summary of the plans and strategies for mitigating those risks, are set out in the Strategic Report. The Trustees regularly review the potential risks and mitigating actions to ensure any risks and uncertainties facing Sunfield are well managed. 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Employment Policy** 

Sunfield is an equal opportunity organisation and is fully committed to its Equal Opportunities Policy. It aims to ensure there is no discrimination on the grounds of disability and that access to work and promotion is based on ability, qualification and suitability for the work. Sunfield is committed to creating a working environment that is free from any form of discrimination. 

Sunfield employs salaried staff with the appropriate qualifications to provide education and care for pupils and does not rely on volunteers. 

The remuneration of the key management personnel, deemed to be the Senior Leadership Team listed on page 3, is reviewed annually by Trustees based on national criteria and affordability. 

## **OBJECTS AND AIMS** 

## **Objects** 

The charity’s objects are: 

- to help, support and educate young people with severe and complex learning needs including those with autistic spectrum disorder, in particular (but not exclusively) by providing a residential special school at Clent, Stourbridge 

- to provide support, assistance, education and training to the families and carers of people of any age with severe and complex learning needs including autistic spectrum disorder 

- to advance the education of the public and promote greater understanding of all matters concerning severe and complex learning needs including autistic spectrum disorder 

- to advance the education of the public in, and promote a greater understanding of, all matters concerning severe and complex learning needs; and 

- to conduct research into the causes, prevention, alleviation, and management of severe and complex learning difficulties including autism and to disseminate the useful results of such research. 

## **Background and Aims** 

Sunfield has over 80 years of experience in supporting individuals, aged 5-19, with complex learning needs, including Autistic Spectrum Conditions. It caters for day and residential placements of up to 52 weeks, as well as respite care. 

Set within 58 acres of idyllic parkland, Sunfield is nestled on the slopes of the Clent Hills overlooking beautiful Worcestershire countryside. The grounds include a farm and walled garden with nature trails for exploration and adventure, as well as play areas and sensory areas with calm outdoor spaces, all designed to enable Sunfield’s young people to learn, exercise, enjoy and engage with their surroundings practically and safely. 

As the first residential special school based on the principles that Rudolf Steiner established in the UK in the 1930s, Sunfield has a long history of being a therapeutic centre and international beacon of education. Sunfield’s highly skilled teaching and residential staff work alongside an integrated therapy team with skills in sensory education. Therapies available include speech & language, music, movement, drama and colour. 

Using Ruskin Mill Trust Ltd.’s method of Practical Skills Therapeutic Education, children learn in a rural setting with sessions in crafts and land work as well as delivering the national curriculum. Sunfield provides a nourishing and therapeutic environment for students who are unable to attend mainstream educational establishments. 

Sunfield has the capacity for 70 pupils and has nearly reached capacity. 

## **Public Benefit** 

In carrying out its activities in the year under review, the Trustees confirm that they have complied with their duty under Section 17 of the Charities Act 2011 to have regard to the public benefit guidance issued by the Charity Commission for England and Wales. 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **STRATEGIC REPORT** 

## **Achievements & Performance** 

The new Lower School has been a welcome addition to the site, and the younger children are enjoying the facilities and landscape.  Sunfield pupil numbers have continued to grow, and the admissions pipeline remains strong. In addition, staff retention has significantly improved compared to previous years, which is a reflection of the leadership and culture of the school. 

Further developments at the site include development of farm buildings and a new barn, as well as developments at the Upper School, removing some of the unusable buildings and improving others, as well as creating a courtyard space for the children. 

The residential houses have continued to be improved with many of the homes having upgraded bathrooms and kitchens. 

The Community Shop continues to provide valuable work experience opportunities for the pupils and has been well supported by the local community. In addition, the children in the residential houses can walk to the shop and purchase ingredients for their meals, as part of their living skills development. 

## **Financial Review** 

- **Results** 

Trustees value the surplus of £1,482,919 made during the year to 31 August 2025 (2024: £166,835). 

Donations were received in the year of £455,230 (2024: £28,824). 

- **Principal funding sources** 

Placements at the school are funded by Local Authorities, which support the education and care of pupils. 

- **Investments** 

Sunfield's investment objective is to seek to maximise total return within its chosen investment criteria by a combination of income and capital growth and within an acceptable level of risk. Trustees utilise the discretionary managed service of Brewin Dolphin Ltd whose delegated manager makes the day-to-day decisions regarding investments in the portfolio. Trustees set the structure and parameters of the portfolio as set out in the Investment Policy and the Board of Trustees reviews the policy annually and monitors the investment performance termly. 

The market value of listed investments held by Sunfield grew by 7.7% (2024: 26.4%) during the year. 

- **Fundraising** 

Fundraising throughout the Ruskin Mill Trust Ltd group is managed by an in-house Fundraising Department which is led by a Director of Fundraising. No use is made of any external, professional fundraiser nor any commercial participator, so no fundraising activities were carried out on Sunfield’s behalf during the year nor were any approaches made to vulnerable individuals in pursuit of the raising of funds for the charity. 

Sunfield’s parent charity, Ruskin Mill Trust Ltd, has signed up to the Fundraising Regulator’s Code of Fundraising Practice and it pays an annual levy to the Regulator. During the year there was no failure to comply with a scheme or standard cited nor were any complaints received about the fundraising activities conducted by the Ruskin Mill Trust Ltd. 

Money raised by Sunfield through fundraising activities are used by it as agreed with the donor and comply with any conditions attached by the donor. 

## `o` **Reserves** 

The Trustees review the charity’s financial plans and results regularly throughout the year. This is done through monitoring income and expenditure against budget forecasts and monitoring cash flow forecasts. 

The Trustees feel it prudent to build the level of reserves on an annual basis with the purpose of ensuring 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

that the charity has sufficient reserves to act as a buffer against unexpected drops in income or increases in expenditure. The reserves held at year-end are restricted funds £273,538 (2024: £70,000). Designated reserves are £1,000,000 (2024: £Nil) and other unrestricted funds are £6,083,439 (2024: £5,804,058). The charity does not require to dispose of fixed assets to achieve any restricted fund purpose. Capital commitments not provided for as a liability in the accounts are disclosed in the Notes. 

Designated reserves have been created to finance capital building and renovation works for planned growth of the charity. Expenditure is likely to be incurred over the next two years. 

The group’s Reserves Policy is included in the Trustees Report for Ruskin Mill Trust Ltd. 

## **Risks & Uncertainties** 

The Trustees review the risks to which the charity is exposed such as the health and safety of children, visitors, volunteers, and staff on an on-going basis and are satisfied that systems are in place to manage exposure to the major risks. They maintain appropriate levels of insurance cover for all foreseeable risks. 

Specific areas of risk and uncertainty are: 

## `o` **Financial Viability** : 

   - Sunfield continues to have a strong admissions pipeline and has more applications than places.  Ruskin Mill Trust Ltd finance team offer regular support, and the Executive Principal receives monthly management accounts so that any areas of overspend or financial concern can be addressed quickly. Management Accounts are also reviewed monthly by Ruskin Mill Trust Ltd Executive Team, and at each Board meeting. 

- **Poor Inspection result:** 

Sunfield had a very positive OFSTED inspection in June 2024, resulting in Good in all areas and Outstanding in Behaviour and Attitudes, Personal Development and Leadership and Management. 

The CEO and senior leaders are continually working on quality assurance and there has been a specific teacher training developed for the staff to ensure they have the necessary skills and knowledge. The Ruskin Mill Trust Ltd Civil Service, in conjunction with the CEO is developing a strong quality assurance process to support all Ruskin Mill Trust Ltd schools. 

Sunfield has regular residential quality assurance visits, and any concerns are quickly addressed. 

## `o` **Regulatory non-compliance:** 

The risk of regulatory non-compliance requires constant review and the upskilling of staff and Trustees to meet an ever-changing regulatory landscape and student profile. Specifically: 

- **Keeping participants safe:** The potential risks associated with keeping participants across the whole of the Ruskin Mill Trust Ltd group safe has required continued vigilance and mitigation by robust risk assessment and action plans, assessments, appropriate training, the appointment of safeguarding managers at each of the main centres and improved internal meeting and reporting arrangements. The Trust Head of Safeguarding is working effectively with Designated Safeguarding Leads across all sites as well as Provision Leaders and the Directors to ensure that each centre is compliant. The Head of Safeguarding is part of the Civil Service and therefore works collaboratively with other key functions including HR, IT/MIS, H&S, and staff training to provide high quality support. In addition, a Ruskin Mill Trust Trustee holds lead responsibility for maintaining oversight of Safeguarding and Health & Safety across the group. 

- **GDPR:** A rigorous programme of cross-Trust training continues to be implemented to ensure compliance, all overseen by Ruskin Mill Trust Ltd.’s Head of Legal Services and Trust Head of IT & MIS. An external agency has been contracted to deliver training and site audits across the Trust. The Trust has a Data Compliance Team and works with SchoolPro, who also act as Data Protection Officer and assist with legal and administrative work, particularly regarding subject access requests. 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

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   - **Charity Law and Company Law:** To assist compliance with Charity Law and Company Law, Ruskin Mill Trust Ltd.’s Head of Legal Services provides Trustees with regular Charity Law and Company Law updates and training which are supplemented by advice on further provisions as they come into force. For example, the Trust has been working with Trustees to ensure that they verify their identity, as part of the new Companies House Identity Verification Standard. 

- **Recruitment of staff:** 

The school continues to recruit additional staff as it grows and to meet the pupils’ needs.  The Trust’s team of specialist recruiters has had a positive impact on the school’s ability to recruit appropriate staff, and staff retention has significantly improved compared to previous years. However, there continues to be some roles that are more difficult to recruit for but with forward planning and targeted recruitment, this risk is mitigated. 

- **IT disaster:** 

The charity continues to monitor and improve IT cyber security arrangements to ensure a robustness and preparedness for any future attacks. Sunfield benefits from technical and MIS services and support provided by Ruskin Mill Trust Ltd.’s central services. The Trust has recently successfully completed the CyberEssentials assessment and registration. The Trust's IT team has also implemented cloud and on-premise systems that provide additional back up, replication and security remediation in the event of an IT disaster. 

- **Reputational Risk:** 

The risk of reputational harm is being mitigated through the vigilance of the charity including ongoing monitoring of Ruskin Mill Trust Ltd.’s Risk Register and implementing a Code of Conduct and ensuring staff are suitably supported and trained. 

- **Risks to Ruskin Mill Trust Group’s Method – Practical Skills Therapeutic Education (“PSTE”):** Vigilance continues to be required to ensure that the Ruskin Mill Trust Ltd group’s educational method is not compromised. The Trust invests in staff training and research to support the method. In addition, regular quality assurance visits, as well as senior leadership meetings help to ensure the method is embedded into provisions. The implementation of the method is also monitored through the Board meetings and the Trustees reports. 

## **Future Plans** 

The development work continues with the new barns and areas around the farm, which includes the George Adams Research Centre and café.  Some of the disused buildings in the middle of the school site have been demolished and the school is currently working on designs for landscaping the new area as well as creating an improved school entrance. The bakery continues to develop which will provide opportunities for students to engage in social enterprise activities as well as learning valuable cooking and baking skills. The school has been growing wheat which is milled into flour and will be used in the bakery. 

## **STATEMENT OF TRUSTEES RESPONSIBILITIES** 

The Trustees (who are also directors of Sunfield Children’s Homes Ltd for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

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- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and 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. 

## **Provision of information to Auditor** 

Each of the people who are Trustees at the time when this Report of the Trustees is approved has confirmed that: 

- so far as each Trustee is aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and 

- the Trustees have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information. 

## **Qualifying third party indemnity provisions** 

Trustees’ indemnity insurance, indemnifying each director against liability to third parties, has been in place throughout the year ended 31 August 2025 and up to the date of approval of this report. 

## **Auditor** 

The auditor, RSM UK Audit LLP, was appointed during the year and will be proposed for reappointment at the Annual General Meeting. 

Approved by the Trustees on 27 April 2026 and signed on their behalf by: 


**----- Start of picture text -----**<br>
………………………………………<br>**----- End of picture text -----**<br>


……………………………………… Aonghus Gordon OBE Trustee 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

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## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SUNFIELD CHILDREN’S HOMES LTD** 

## **Opinion** 

We have audited the financial statements of Sunfield Children’s Homes Limited (the ‘charitable company’) for the year ended 31 August 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the Trustees’ Report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated.  If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.  If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees’ Report, which includes the Directors’ Report and the Strategic Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Directors’ Report and the Strategic Report included within the Trustees’ Report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ Report or the Strategic Report included within the Trustees’ Report. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees’ responsibilities set out on pages 8-9, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

## **The extent to which the audit was considered capable of detecting irregularities, including fraud** 

Irregularities are instances of non-compliance with laws and regulations.  The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected noncompliance with laws and regulations identified during the audit. 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

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In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. 

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. 

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team: 

- obtained an understanding of the nature of the sector, including the legal and regulatory framework that the charitable company operates in and how the charitable company is complying with the legal and regulatory framework; 

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; 

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud. 

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP (FRS 102), Companies Act 2006,  Charities Act 2011, the charitable company’s governing document and tax legislation. We performed audit procedures to detect noncompliances which may have a material impact on the financial statements which included reviewing the financial statements including the Trustees’ Report, remaining alert to new or unusual transactions which may not be in accordance with the governing documents, inspecting correspondence with  local tax authorities and evaluating any advice received from advisors. 

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to the Education Inspection Framework under the Education and Inspections Act 2006, Keeping Children Safe in Education under the Education Act 2002, the Care Act  2014, Care Quality Commission regulations, the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.  We performed audit procedures to inquire of management and those charged with governance whether the charitable company is in compliance with these law and regulations and inspected correspondence with regulatory authorities 

The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud.  Audit procedures performed included but were not limited to testing manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, challenging judgments and estimates and tests of detail in respect of income. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006.  Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

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the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 

## Anna Spencer-Gray 

ANNA SPENCER-GRAY (Senior Statutory Auditor) For and on behalf of RSM UK AUDIT LLP, Statutory Auditor Chartered Accountants 10[th ] Floor 103 Colmore Row Birmingham B3 3AG 

## 05/05/26 

_Sunfield Children’s Homes Ltd_ 

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**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

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## **Statement of Financial Activities (Net Income and Expenditure Account) For the year ended 31 August 2025** 

|**Notes**|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**|**Total Funds**<br>**2025**<br>Total Funds<br>2024|
|---|---|---|
||**£**<br>**£**|**£**<br>£|
|**Income**|||
|Donations|**5,255**<br>**449,975**|**455,230**<br>27,824|
|Charitable activities|**14,135,940**<br>**-**|**14,135,940**<br>12,815,434|
|Other trading activities|**116,661**<br>**-**|**116,661**<br>59,047|
|Investment income|**61,796**<br>**-**|**61,796**<br>45,683|
||||
|**Total income**<br>**3**|**14,319,652**<br>**449,975**|**14,769,627**<br>12,947,988|
||||
|**Expenditure**|||
|Charitable activities<br>**4**|**(13,071,751)**<br>**(246,437)**|**(13,318,188)**<br>(12,832,686)|
||||
|**Net income before gain on**<br>**investments**|**1,247,901**<br>**203,538**|**1,451,439**<br>115,302|
||||
|Gain on investments<br>**10**|**29,480**<br>**-**|**29,480**<br>51,533|
||||
|**Net income**|**1,277,381**<br>**203,538**|**1,480,919**<br>166,835|
||||
|**Gain on disposal of tangible fixed**<br>**assets**|**2,000**<br>**-**|**2,000**<br>_-_|
||||
|**Net income and**<br>**net movement in funds**<br>**5**|**1,279,381**<br>**203,538**|**1,482,919**<br>166,835|
||||
|**Reconciliation of funds**|||
|Total funds brought forward<br>**16**|5,804,058<br>70,000|5,874,058<br>5,707,223|
|**Total funds carried forward**<br>**16**|**7,083,439**<br>**273,538**|**7,356,977**<br>5,874,058|



The notes on pages 17 to 33 form part of these financial statements. 

_Sunfield Children’s Homes Ltd_ 

_14_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

Registered Number: 00413810 

## **Balance Sheet 31 August 2025** 

|**Notes**|**2025**<br>2024|
|---|---|
||**£**<br>£|
|||
|**Fixed assets**||
|Tangible assets<br>**8**|**3,481,312**<br>1,143,126|
|Investments<br>**10**|**599,538**<br>556,915|
||**4,080,850**<br>1,700,041|
|||
|**Current assets**||
|Debtors<br>**11**|**1,480,328**<br>1,988,359|
|Cash at bank and in hand|**2,998,892**<br>3,073,004|
||**4,479,220**<br>5,061,363|
|||
|||
|Creditors: amounts fallingdue within oneyear<br>**12**|**(1,202,993)**<br>(887,246)|
|||
|**Net current assets**|**3,276,227**<br>4,174,117|
|||
|**Net assets**|**7,357,077**<br>5,874,158|
|||
|**Funds**||
|Share capital<br>**15**|**100**<br>100|
|Restricted funds<br>**16**|**273,538**<br>70,000|
||**273,638**<br>70,100|
|||
|Designated funds<br>**16**|**1,000,000**<br>-|
|Other unrestricted funds<br>**16**|**6,083,439**<br>5,804,058|
|Unrestricted funds|**7,083,439**<br>5,804,058|
|||
||**7,357,077**<br>5,874,158|



The financial statements have been prepared in accordance with the Companies Act 2006. 

The financial statements were approved by the Board of Trustees on 27 April 2026 and were signed on its behalf by: 

…………………………………….. 

Aonghus Gordon OBE Trustee 

The notes on pages 17 to 33 form part of these financial statements. 

_Sunfield Children’s Homes Ltd_ 

_15_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Cash Flow Statement For the year ended 31 August 2025** 

|**Note**<br>**Cash flows from operating activities**<br>**_Net cash provided by operating activities_**<br>**17**<br>**Cash flows from investing activities**<br>Investment income<br>Purchase of tangible fixed assets<br>Proceeds on disposal of tangible fixed assets<br>Payments to acquire fixed asset investments<br>Proceeds from sale of fixed asset investments<br>**_Net cash used in investing activities_**<br>**Change in cash and cash equivalents in the reporting period**<br>Cash and cash equivalents at the beginning of the reporting period<br>**Cash and cash equivalents at the end of the reporting period**|**2025**<br>2024<br>**£**<br>£<br>**2,290,123**<br>3,322,234|
|---|---|
||**61,796**<br>45,683<br>**(2,414,888)**<br>(741,731)<br>**2,000**<br>-<br>**(70,409)**<br>(94,206)<br>**57,266**<br>29,560|
||**(2,364,235)**<br>(760,694)|
||**(74,112)**<br>2,561,540<br>**3,073,004**<br>511,464|
||**2,998,892**<br>3,073,004|



The notes on pages 17 to 33 form part of these financial statements. 

_Sunfield Children’s Homes Ltd_ 

_16_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **Statutory information** 

Sunfield Children’s Homes Ltd (“Sunfield”) is incorporated in England and Wales as a company limited by shares. 

Sunfield is also registered with the Charity Commission in England and Wales (registered no. 527552). 

Registered number 00413810 Registered Head Office address: Ruskin Mill Millbottom Nailsworth Stroud Gloucestershire GL6 0LA 

The principal office of Sunfield is Sunfield Garden School and Children’s Home, Clent Grove, Stourbridge, West Midlands, DY9 9PB. 

## **1. Accounting policies** 

## **Basis of accounting** 

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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

Sunfield 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. 

The financial statements are presented in sterling (£), which is the functional currency of the charity. 

## **Going concern** 

For the foreseeable future the Trustees consider Sunfield a going concern based on recurring funding receivable from the local authorities. The Trustees also believe that reserves are maintained at an appropriate level to provide a sufficient level of cover should it be required. 

Working alongside Ruskin Mill Trust Ltd, robust budgets are set, and the actual spend against these budgets is analysed monthly by both the Executive Team and the Board of Trustees’ Finance Sub-Committee. The full Board also receives these monthly management accounts and reviews them on a two-monthly cycle. The charitable company is currently negotiating fee increases with local authorities to mitigate the impact of inflation on expenditure. 

_Sunfield Children’s Homes Ltd_ 

_17_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

**For the year ended 31 August 2025** 

## **1. Accounting policies (continued)** 

The group, headed by Ruskin Mill Trust Ltd, has substantial net assets. Furthermore, Ruskin Mill Trust Ltd has provided assurances that group financial support will be provided to Sunfield if required. 

After making detailed enquiries and considering the factors discussed above, the Board is confident that the charitable company has adequate scope to continue its operational existence for the foreseeable future. There are no material uncertainties surrounding going concern and accordingly the charitable company continues to prepare the financial statements on a going concern basis. 

## **Income** 

Donations are credited to revenue when the charitable company has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. 

Income from charitable and other trading activities is accounted for in the period in which the income is earned. 

Income from investments is included in the year in which it is receivable. 

## **Expenditure** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with the use of resources. 

## **Operating leases** 

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight-line basis over the term of the lease. Lease incentives are recognised over the life of the lease on a straight-line basis as a reduction to the expense. 

## **Termination payments** 

Termination payments are accounted for as soon as the charitable company is aware of the obligation to make the payment. 

## **Pension costs** 

Teachers are eligible for membership of the Teachers’ Pension Scheme, which is a defined benefit scheme. It is a multi-employer scheme and the charity’s share of any deficit cannot be identified. Therefore, it is accounted for as a defined contribution scheme in accordance with the provisions of FRS 102. 

All other staff are eligible to join the charitable company’s defined contribution scheme. Amounts paid in relation to this scheme are charged to the Statement of Financial Activities when they fall due. All pension costs are allocated to unrestricted funds. 

_Sunfield Children’s Homes Ltd_ 

_18_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **1. Accounting policies (continued)** 

## **Tangible fixed assets and depreciation** 

Assets with a cost below £1,000 are not capitalised. 

Depreciation is charged to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. 

Depreciation is provided on the following basis: 

Leasehold improvements Over the term of the lease Fixtures, fittings and equipment 25% Motor vehicles 25% 

Depreciation is not charged on assets under construction. 

The assets’ residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of a significant change since the last reporting date. 

## **Investments** 

Listed investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposal throughout the year. Sunfield's investment objective is to seek to maximise total return within its chosen investment criteria by a combination of income and capital growth and within an acceptable level of risk. 

## **Debtors** 

Short term debtors are initially measured at transaction price, less any impairment. Prepayments are measured at the amount prepaid. 

## **Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, bank deposits and other short-term deposits. 

## **Creditors** 

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 recognised at their settlement amount after allowing for any trade discounts due. 

_Sunfield Children’s Homes Ltd_ 

_19_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **1. Accounting policies (continued)** 

## **Funds** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. 

Restricted funds can only be used for restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to these financial statements. 

## **Financial instruments** 

Sunfield only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Listed investments are initially recognised at their transaction cost and subsequently measured at their fair value (market value) at the balance sheet date. Debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. 

## **Taxation** 

The company is a registered charity and as such is entitled to tax exemption on all its income and gains, properly applied for its charitable purposes. 

## **Significant estimates and judgements** 

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. 

## _Useful economic lives of tangible fixed assets_ 

The annual depreciation charges for tangible fixed assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of the assets. 

## _Impairment of debtors_ 

Sunfield makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of fee and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. 

_Sunfield Children’s Homes Ltd_ 

_20_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements For the year ended 31 August 2025** 

## **2. Statement of financial activities for the year to 31 August 2024** 

|**Notes**|**Unrestricted**<br>**Funds**<br>**Restricted**<br>**Funds**|**Total Funds**<br>**2024**|
|---|---|---|
||**£**<br>**£**|**£**|
|**Income**|||
|Donations|7,537<br>20,287|27,824|
|Charitable activities|12,815,434<br>-|12,815,434|
|Other trading activities|59,047<br>-|59,047|
|Investment income|45,683<br>-|45,683|
||||
|**Total income**<br>**3**|12,927,701<br>20,287|12,947,988|
||||
|**Expenditure**|||
|Charitable activities<br>**4**|(12,770,734)<br>(61,952)|(12,832,686)|
||||
|**Net income / (expenditure) before**<br>**gain on investments**|156,967<br>(41,665)|115,302|
||||
|Gain on investments<br>**10**|51,533<br>-|51,533|
||||
|**Net income / (expenditure) and**<br>**net movement in funds**<br>**5**|208,500<br>(41,665)|166,835|
||||
|**Reconciliation of funds**|||
|Total funds brought forward<br>**16**|5,595,558<br>111,665|5,707,223|
|**Total funds carried forward**<br>**16**|5,804,058<br>70,000|5,874,058|



_Sunfield Children’s Homes Ltd_ 

_21_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements For the year ended 31 August 2025** 

## **3. Income** 

|**Income**||
|---|---|
||**2025**<br>2024|
||**£**<br>£|
|||
|**Donation income**|**455,230**<br>27,824|
|||
|**Charitable activities**||
|Fees|**14,135,940**<br>12,815,434|
|||
|**Other trading activities**||
|Income from land, farm & shop|**59,085**<br>43,917|
|Rent and miscellaneous income|**57,576**<br>15,130|
||**116,661**<br>59,047|
|||
|**Investment income**||
|Dividends from listed investments|**9,940**<br>8,701|
|Interest received|**51,856**<br>36,982|
||**61,796**<br>45,683|
|||
|**Total income**|**14,769,627**<br>12,947,988|



## **4. Expenditure** 

||**Staff costs**<br>**(note 6)**<br>**Depreciation**<br>**(note 8)**<br>**Other**<br>**Costs**<br>**2025**<br>2024|
|---|---|
||**£**<br>**£**<br>**£**<br>**£**<br>£|
|||
||**8,043,252**<br>**76,702**<br>**5,198,234**<br>**13,318,188**<br>12,832,686|
|||
||**8,043,252**<br>**76,702**<br>**5,198,234**<br>**13,318,188**<br>12,832,686|
||Staff costs<br>(note 6)<br>Depreciation<br>Other<br>Costs<br>2024<br>£<br>£<br>£<br>£<br>7,261,807<br>51,610<br>5,519,269<br>12,832,686<br>7,261,807<br>51,610<br>5,519,269<br>12,832,686|
|||
|||
|||
|||
|||
|||
|||



_Sunfield Children’s Homes Ltd_ 

_22_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## 5. **Net income** 

Net income is stated after charging: 

|t income is stated after charging:|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Depreciation - owned tangible fixed assets|**76,702**|51,610|
|Operating lease expense|**386,319**|364,790|
|Auditor’s remuneration for the provision of:|||
|-<br>statutory audit|**16,500**|15,500|
|-<br>other services|**1,450**|1,100|



_Sunfield Children’s Homes Ltd_ 

_23_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **6. Staff costs** 

|Wages and salaries<br>Social security costs<br>Pension costs|**2025**<br>2024<br>**£**<br>£<br>**6,927,861**6,487,037<br>**745,336**<br>612,930<br>**370,055**<br>161,840|
|---|---|
||**8,043,252**7,261,807|



The monthly average headcount number of employees during the year was as follows: 

|Teaching<br>Care, support and administration<br>Management|**2025**<br>2024<br>**No.**<br>No.<br>**89**<br>79<br>**151**<br>155<br>**9**<br>5|
|---|---|
||**249**<br>**239**|



The numbers of employees earning more than £60,000 excluding employer NI and pension costs were: 

|||**2025**|2024|
|---|---|---|---|
|||**No.**|No.|
|£60,001|- £70,000|**1**|1|
|£70,001|- £80,000|**1**|-|
|£80,001|- £90,000|**1**|-|



Key management personnel of the company are remunerated by a different group entity and hence no disclosure is made in these financial statements. 

No termination payments were made during the year (2024: £66,279) _._ 

## **7. Trustees’ remuneration and benefits** 

No Trustees were remunerated in the year (2024: £Nil). 

No Trustee expenses were reimbursed during the year (2024: £Nil). 

_Sunfield Children’s Homes Ltd_ 

_24_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements For the year ended 31 August 2025** 

## **8. Tangible fixed assets** 

|**Cost**<br>1 September 2024<br>**Additions**<br>**Transfers**<br>**Disposals**<br>**31 August 2025**<br>**Depreciation**<br>1 September 2024<br>**Charge for the year**<br>**Disposals**<br>**31 August 2025**<br>**Net Book Value**<br>**31 August 2025**<br>31 August 2024|**Leasehold**<br>**Improvements**<br>**Fixtures,**<br>**Fittings &**<br>**Equipment**<br>**Motor**<br>**Vehicles**<br>**Assets**<br>**Under**<br>**Construction**<br>**Totals**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>407,686<br>872,475<br>152,365<br>643,445<br>2,075,971<br>**-**<br>**65,109**<br>**106,737**<br>**2,243,042**<br>**2,414,888**<br>**2,738,453**<br>**96,778**<br>**-**<br>**(2,835,231)**<br>**-**<br>**-**<br>**(19,342)**<br>**(26,295)**<br>**-**<br>**(45,637)**|
|---|---|
||**3,146,139**<br>**1,015,020**<br>**232,807**<br>**51,256**<br>**4,445,222**|
||14,903<br>795,408<br>122,534<br>-<br>932,845<br>**9,206**<br>**39,832**<br>**27,664**<br>**-**<br>**76,702**<br>**-**<br>**(19,342)**<br>**(26,295)**<br>**-**<br>**(45,637)**|
||**24,109**<br>**815,898**<br>**123,903**<br>**-**<br>**963,910**|
||**3,122,030**<br>**199,122**<br>**108,904**<br>**51,256**<br>**3,481,312**|
||392,783<br>77,067<br>29,831<br>643,445<br>1,143,126|



## **9. Capital commitments** 

At 31 August 2025, there were capital commitments totalling £926,492 (2024: £Nil) for restoration of two Victorian stable blocks with modern extension to create new facilities in the grounds of the school. 

_Sunfield Children’s Homes Ltd_ 

_25_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **10. Investments** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|Listed investments|**599,538**|556,915|
||**2025**|2024|
||**£**|£|
|**Listed investments:**|||
|Market value 1 September 2024|**556,915**|440,736|
|Acquisitions at cost|**70,409**|94,206|
|Proceeds on disposal|**(57,266)**|(29,560)|
|Gain in the year|**29,480**|51,533|
|**Market value 31 August 2025**|**599,538**|556,915|
|Investments at Market Value:|||
||**2025**|2024|
||**£**|£|
|UK Bonds|**59,205**|54,012|
|UK Equities|**91,338**|95,581|
|Overseas Bonds|**40,039**|47,062|
|Overseas Equities|**340,136**|302,317|
|Alternative Investments|**45,094**|32,214|
|Property|**8,760**|9,213|
|Other Investments|**14,966**|16,516|
||**599,538**|556,915|
|Historical cost|**503,636**|481,940|
|The following investments represent more than 5% of the total market value:|||
||**2025**|2024|
||**£**|£|
|IShares Core S&P 500|**69,059**|57,303|
|Vanguard US Equity Index|**55,711**|48,116|
|Brown Advisory US Sustainable Growth|**36,212**|34,195|



_Sunfield Children’s Homes Ltd_ 

_26_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **11. Debtors: amounts falling due within one year** 

|Trade debtors<br>Amounts due from group undertakings<br>Other debtors<br>Prepayments and accrued income|**2025**<br>2024<br>**£**<br>£<br>**1,445,690**<br>1,363,561<br>**-**<br>611,261<br>**17,782**<br>1,855<br>**16,856**<br>11,682|
|---|---|
||**1,480,328**<br>1,988,359|



## **12. Creditors: amounts falling due within one year** 

|Trade creditors<br>Amounts owed to group undertakings<br>Social security and other taxes<br>Pension contributions payable<br>Other creditors<br>Fees in advance<br>Accruals and deferred income<br>**ees in advance**<br>Amounts brought forward<br>Amounts received during the year<br>Amounts utilised during the year<br>Amounts carried forward||**2025**<br>2024<br>**£**<br>£<br>**484,784**<br>158,967<br>**1,000**<br>-<br>**415,600**<br>165,843<br>**181,776**<br>35,913<br>**47,324**<br>85,223<br>**47,418**<br>394,801<br>**25,091**<br>46,499|
|---|---|---|
|||**1,202,993**<br>887,246|
|||**2025**<br>2024<br>**£**<br>£<br>**394,801**<br>193,543<br>**13,823,123**<br>12,719,185<br>**(14,170,506)**<br>(12,517,927)|
|||**47,418**<br>394,801|



## **Fees in advance** 

The closing balance of fees received in advance relates to fees received in respect of the 2025-26 academic year. 

_Sunfield Children’s Homes Ltd_ 

_27_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **13. Operating lease commitments** 

At the year end the charitable company had total commitments due under non-cancellable operating leases as set out below: 

|**Land & buildings**<br>Within 1 year<br>Between 2 and 5 years<br>Over 5 years<br>**Other**<br>Within 1 year<br>Between 2 and 5 years|**2025**<br>2024<br>**£**<br>£<br>**338,660**<br>360,000<br>**1,354,640**<br>1,440,000<br>**2,681,058**<br>3,270,000|
|---|---|
||**4,374,358**<br>5,070,000|
||**10,845**<br>8,820<br>**9,037**<br>16,905|
||**19,882**<br>25,725|



## **14. Financial instruments** 

Financial assets measured at fair value 

|**2025**|2024|
|---|---|
|**£**|£|
|**599,538**|556,915|



Financial assets measured at fair value comprise listed investments and is the market value at the balance sheet date. 

## **15. Share capital** 

|**Authorised**<br>100 Ordinary shares of £1 each<br>**Allotted and fully paid**<br>100 Ordinary shares of £1 each|**2025**<br>2024<br>**£**<br>£<br>**100**<br>100<br>**100**<br>100|
|---|---|



_Sunfield Children’s Homes Ltd_ 

_28_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements For the year ended 31 August 2025** 

## **16. Reconciliation of movement in funds** 

## **Year to 31 August 2025** 

|**Year to 31 August 2025**||
|---|---|
||1 September<br>2024<br>**Income**<br>**Expenditure**<br>**Gains**<br>**Transfers**<br>**31 August**<br>**2025**<br>£<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>-<br>**-**<br>**-**<br>**-**<br>**1,000,000**<br>**1,000,000**<br>5,804,058<br>**14,319,652**<br>**(13,071,751)**<br>**31,480**<br>**(1,000,000)**<br>**6,083,439**|
|||
|**Unrestricted funds**||
|Designated funds||
|General fund||
||5,804,058<br>**14,319,652**<br>**(13,071,751)**<br>**31,480**<br>**-**<br>**7,083,439**|
|||
|**Restricted funds**||
|Lower School building<br>and landscaping|70,000<br>**112,677**<br>**(182,677)**<br>**-**<br>**-**<br>**-**|
|Community Café, Library<br>and Research Centre|-<br>**313,500**<br>**(44,928)**<br>**-**<br>**-**<br>**268,572**|
|Team Houses kitchens|-<br>**18,832**<br>**(18,832)**<br>**-**<br>**-**<br>**-**|
|Walledgarden|-<br>**4,966**<br>**-**<br>**-**<br>**-**<br>**4,966**|
||70,000<br>**449,975**<br>**(246,437)**<br>**-**<br>**-**<br>**273,538**|
|||
|**Total funds**|5,874,058<br>**14,769,627**<br>**(13,318,188)**<br>**31,480**<br>**-**<br>**7,356,977**|



## **Designated funds** 

Designated funds have been created to finance capital building and renovation works for planned growth of the charity. 

## **Restricted funds** 

Lower School building and Donations were received in the year of £100,000 from Eveson Trust, landscaping £5,000 from CLA Charitable Trust, £5,000 from Jean Robin Legacy, £1,969 from Tree Council as well as several other donations from individuals and local businesses. The Lower School is now built, and its official opening was held on 16 May 2025. It is now being fully used and enjoyed by pupils and staff. Community Café, Library and Donations were received in the year of £250,000 from Garfield Weston, Research Centre £50,000 from Npower NBS Foundation. £10,000 from Sackler Trust, £2,500 from Carmella & Ronnie Pignatelli Foundation and £1,000 from CA Rookes Trust. The project is to build a café, library and research centre in the grounds of the school. Works commenced during the year and are scheduled to complete in 2026. Team Houses kitchens Donations were received in the year of £10,000 from B&Q Foundation and £8,832 from Screwfix. New kitchens were fitted in two of the school’s residential cottages. Walled garden Donations were received in the year of £2,000 from Mary May Steward Charitable Trust, fundraising from Bunzl and other donations from individuals and local businesses. The project is to upgrade the historic walled garden. 

_Sunfield Children’s Homes Ltd_ 

_29_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **16. Reconciliation of movement in funds (continued)** 

## **Year to 31 August 2024** 

|**Year to 31 August 2024**||
|---|---|
||1 September<br>2023<br>Income<br>Expenditure<br>Gains<br>31 August<br>2024|
||£<br>£<br>£<br>£<br>£|
|**Unrestricted funds**||
|General fund|5,595,558<br>12,927,701<br>(12,770,734)<br>51,533<br>5,804,058|
|||
|**Restricted funds**||
|Blacksmith shelter|25,100<br>-<br>(25,100)<br>-<br>-|
|Colour light therapy equipment|34,695<br>287<br>(34,982)<br>-<br>-|
|Bike project|1,870<br>-<br>(1,870)<br>-<br>-|
|Lower School building and<br>landscaping|50,000<br>20,000<br>-<br>-<br>70,000|
||111,665<br>20,287<br>(61,952)<br>-<br>70,000|
|||
|**Total funds**|5,707,223<br>12,947,988<br>(12,832,686)<br>51,533<br>5,874,058|



## **Restricted funds** 

Blacksmith shelter The donations received were spent during the year on a new forge. 

Colour light therapy A donation of £287 was received in the year from Mary Walls Legacy.  All donations equipment have been spent on colour light therapy equipment. Bike project The donations received were spent during the year on a new bike shed. Lower School building A £20,000 donation was received during the year from the William A Cadbury and landscaping Charitable Trust to be used towards the Lower School development. 

_Sunfield Children’s Homes Ltd_ 

_30_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements For the year ended 31 August 2025** 

## **17. Analysis of net assets between funds** 

|**31 August 2025**<br>Share capital<br>Restricted funds<br>Unrestricted funds<br>31 August 2024<br>Share capital<br>Restricted funds<br>Unrestricted funds<br>**17. Cash flows from operating activities**<br>**Net movement in funds**<br>Gain on investments<br>Investment income<br>Depreciation of tangible fixed assets<br>Gain on disposal of tangible fixed assets<br>Decrease in debtors<br>Increase / (decrease) in creditors<br>**Net cash provided by operating activities**|**Fixed assets**<br>**Net**<br>**current assets**<br>**Fund**<br>**balances**<br>**£**<br>**£**<br>**£**<br>**100**<br>**-**<br>**100**<br>**-**<br>**273,538**<br>**273,538**<br>**4,080,750**<br>**3,002,690**<br>**7,083,439**|**Fixed assets**<br>**Net**<br>**current assets**<br>**Fund**<br>**balances**<br>**£**<br>**£**<br>**£**<br>**100**<br>**-**<br>**100**<br>**-**<br>**273,538**<br>**273,538**<br>**4,080,750**<br>**3,002,690**<br>**7,083,439**|
|---|---|---|
||**4,080,850**<br>**3,276,228**<br>**7,357,077**||
||100<br>-<br>100<br>-<br>70,000<br>70,000<br>1,699,941<br>4,104,117<br>5,804,058||
||1,700,041<br>4,174,117<br>5,874,158||
|||**2025**<br>2024<br>**£**<br>£<br>**1,482,919**<br>166,835<br>**(29,480)**<br>(51,533)<br>**(61,796)**<br>(45,683)<br>**76,702**<br>51,610<br>**(2,000)**<br>-<br>**508,031**<br>3,398,453<br>**315,747**<br>(197,448)|
|||**2,290,123**<br>3,322,234|



_Sunfield Children’s Homes Ltd_ 

_31_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **Pensions** 

## **Teachers’ Pension Scheme** 

The charity participates in the Teachers’ Pension Scheme (“the TPS”) for certain teaching staff. The pension charge for the year includes contributions payable to the TPS of £125,848 (2024: £55,170) and at the year-end an amount payable of £153,586 (2024: £6,669). During the year, the scheme was opened to additional employees. The balance at 31 August 2025 includes a provision of £131,595 for back-dated contributions due. 

The TPS is a statutory, multi-employer defined benefit occupational pension scheme, governed by the Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Membership is voluntary and is open to members of the teaching profession in England and Wales who are a teacher or lecturer between the ages of 16 and 75 in pensionable service employed by a local authority or academy trust or other education establishments accepted by the Scheme. 

The TPS is an unfunded scheme to which both the member and the employer make contributions as a percentage of salary. Contributions to the Scheme are set at rates determined by the Secretary of State for Education, taking advice from the Scheme’s Actuary. Employers and members contribute on a “pay as you go” basis with contributions received used to offset payments to current pensioners with the balance of funding provided by Parliament. The Scheme’s administrative expenses are borne by Scheme employers, payable as a percentage of pensionable earnings. 

## **Valuation of the Teachers’ Pension Scheme** 

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors.  The latest actuarial valuation of the TPS was carried out at 31 March 2020, based on 2020 data.  The valuation report was published by the Department for Education on 26 October 2023. 

The key elements of the valuation and subsequent consultation are: 

- The employer contribution rate increased by 5% from 1 April 2024. The main factor influencing this increase was a change in discount rate because the long-term expectation of real GDP growth was revised downwards from 2.4% to 1.7%. This increased the assessed cost of scheme liabilities. 

- Employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). (Previously 23.68%). The new rate applies from 2024 to 2027. 

- Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date (31 March 2020) were £262,000 million (previously £218,100 million) and notional assets (estimated future contributions together with the notional investments held at the valuation date) were £222,200 million (previously £196,100 million), giving a notional past service deficit of £(39,800) million. 

- the SCAPE discount rate, set by HM Treasury, is used to determine the notional investment return. The SCAPE rate used in the valuation was 1.7% above the rate of CPI, previously 2.4%. 

- The assumed rates of pension increases (equal to CPI) were forecast to decline from 10.1% in 2022/23 to 0% in 2025/26, returning to 2% in 2028/29. Previously 2% was forecast. 

- Salary increases were forecast at 1.6% in 2024/25 and 2025/26 with modest increases thereafter. Previously forecast salary increases were 4.2%. 

A copy of the valuation report and supporting documentation is on the GOV.UK website: 

https://www.gov.uk/government/publications/2020-valuation-teachers-pension-scheme-england-and-wales 

Under the definitions set out in FRS 102, Sunfield Children’s Homes Ltd has accounted for its contributions to the scheme as if it were a defined contribution scheme. 

_Sunfield Children’s Homes Ltd_ 

_32_ 



**TRUSTEES’ REPORT AND FINANCIAL STATEMENTS 2025** 

_______________________________________________________________________________ 

## **Notes to the Financial Statements** 

## **For the year ended 31 August 2025** 

## **19. Related party transactions** 

Year to 31 August 2025 transactions and year-end balance between subsidiaries and parent company: 

||**Ruskin Mill**|**Catherine**|
|---|---|---|
||**Trust Ltd**|**Grace Trust**|
||**£**|**£**|
|Donations paid|**1,950,000**|**-**|
|Trade debtor amounts|**-**|**-**|
|Trade creditor amounts|**-**|**(1,000)**|



Year to 31 August 2024 transactions and year-end balance between subsidiaries and parent company: 

||**Ruskin Mill**|**Catherine**|
|---|---|---|
||**Trust Ltd**|**Grace Trust**|
||**£**|**£**|
|Donations paid|2,255,000|-|
|Trade debtor amounts|611,261|-|
|Trade creditor amounts|-|-|



Mr A Gordon OBE (a Trustee of Sunfield Children’s Homes Ltd) was a Director of Ruskin Mill Land Trust Ltd, the sole corporate Trustee of Ruskin Mill Land Trust from which the charitable company made purchases of £370,800 (2024: £360,000). These purchases relate to the annual rental of the Clent site. The balance owed to Ruskin Mill Land Trust at the end of the year is £30,900 (2024: £Nil). Mr A Gordon resigned as a Director and Trustee of Ruskin Mill Land Trust Ltd on 31 August 2025. 

## **20. Ultimate parent company and controlling party** 

Ruskin Mill Trust Ltd (registered in England and Wales; company number: 07252866 and charity number: 1137167) is the sole member and controlling party of Sunfield Children’s Homes Ltd. The objects of Ruskin Mill Trust Ltd include the advancement of the education of young people with learning difficulties and/ or behavioural problems or special educational needs; the promotion of research into the practice and development of those areas of education; and the promotion of Rudolf Steiner education establishments. The charitable company runs special educational needs schools and colleges. A copy of their financial statements can be obtained from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ. 

_Sunfield Children’s Homes Ltd_ 

_33_