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2022-08-31-annual-report

REGISTERED COMPANY NUMBER: NI012003 (Northern Ireland) REGISTERED CHARITY NUMBER: 103712

Report of the Trustees and

Financial Statements

for the Year Ended 31 August 2022

for

HOLYWOOD STEINER SCHOOL LIMITED

M.B.McGrady & Co Chartered Accountants Statutory Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH

HOLYWOOD STEINER SCHOOL LIMITED

Contents of the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2022

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 15 to 22
Detailed Statement of Financial Activities 23 to 24

HOLYWOOD STEINER SCHOOL LIMITED

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2022

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 ended 31 August 2022. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

To advance the education of children based on Steiner Waldorf principles, philosophy, curriculum and teaching approach that place emphasis on the development of the whole child, including a child's spiritual, physical and emotional wellbeing and social development, as well as her/his academic progress by the provision of a school for children from preschool age to 17 years living in Northern Ireland and by any other charitable means as the directors shall consider appropriate.

Within these objectives, the school strives to provide an exceptional education using the Steiner I Waldorf curriculum for children from 2 years and ten months to 14 years of age. For children between 14 and 17 years of age, the school strives to provide an exceptional education incorporating aspects of both the Steiner curriculum and the curriculum as defined by the Department of Education in Northern Ireland. It is intended to provide an environment where each student can develop and fulfill his or her individual potential and at the same time contribute to the whole community.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The objective for the school during the year was to continue to provide a quality Steiner/Waldorf education in the Early Years and Lower School and to provide a quality education balanced between a Steiner Curriculum and the National Curriculum in the Upper School. An additional objective was to develop further the school's strategic plan and to continue to increase the number of students enrolled while maintaining an environment conducive to delivering a quality Steiner education. Increasing the school's enrolment has generated much needed additional income, ensuring financial viability and sustainability. The capacity for growth is also recognised as key to increasing salaries for teachers.

Another strand to the Board of Trustees' Strategic objectives for this year has been to continue an ongoing review of governance and management within the school, with specific objectives of streamlining day-to-day management and decision making within the School, improving management responsibilities across mandated or remit groups within the teaching staff, and formalising induction and ongoing training for Trustees within the Board

The recruitment of a Head teacher last year and the ongoing delivery of this key role has ensured day to day operations have returned to the care of the school leadership and admin team. The Board of Trustees has since turned its attention to a more strategic overview of the school, its development and its current needs.

1

HOLYWOOD STEINER SCHOOL LIMITED

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2022

OBJECTIVES AND ACTIVITIES

Significant activities

This year pupil numbers continued to increase. In total during this period the school's enrolment was 127 students. The school provided education for 17 students in the kindergarten programme for children from 4 to 6 years of age and in the Lower School there were 59 children from the age of 6 to 14 in Classes 1 through 7. Classes 8 through 11 (the Upper School) had 51 students between the ages of 13 and 17. The school is yet to reach capacity and is actively promoting itself and seeking new students, not only to improve the income to the school, but also to enhance of the pedagogic environment conducive to Steiner/Waldorf education.

Walk through opportunities and a one-to-one with the head teacher continue to be key in the promotion of our school and its offer. In addition, group walkthrough mornings were scheduled and publicised across the community and on digital channels such as the school website, with considerable interest and attendance noted. The traditional community facing events returned to the calendar this year with the re-introduction of the Easter Fayre and the return of the Christmas Fayre. Both events helped raise vital funds for the school as well as providing an opportunity to raising our profile within the community.

The Board of Trustees revised and updated 'Strategy 2025' to reflect the changing environment and continue to work towards the successful delivery of the development plan for the school that identifies strategic direction, ambitions and opportunities for growth with a set of actions required to achieve these.

During this reporting period the school appointed a new Kindergarten Teacher, an Upper School English Teacher, a Class One Teacher, an Upper School Art Teacher (maternity cover), a Music Teacher (maternity cover) and a Learning Support Assistant. All of these appointments commenced in August 2022. Our Kindergarten Teacher and Class Seven Teacher left the school in June 2022.

Volunteers

The school depends heavily on volunteers and on volunteer activity for a significant amount of the work particularly in areas such as fund-raising, public relations (PR), and development. The school also relies on volunteers to a large extent in areas such as grounds keeping and maintenance. After a period of limited activity, the PFA was reconstituted and made a successful application to the Charities Commission for charitable status.

ACHIEVEMENT AND PERFORMANCE

Achievements and performance

The Preschool group unit numbers decreased slightly this year from 2020/21 to 12 pupils, and efforts are being planned to reignite growth.

Class teachers in the Holywood Steiner School optimally stay with a class from Class l to Class 7. Teacher recruitment, retention and on-going teacher development and support are important factors. This year, despite continuing to have extremely low salaries, retention of staff was 100%. Despite the interruption to the delivery of the curriculum due to Covid 19 restrictions student numbers continued to increase. In the Upper School, the GCSE results were positive, as in previous years and plans are being put in place to increase the subject offer.

2

HOLYWOOD STEINER SCHOOL LIMITED

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

Financial review

The Directors Report a deficit of £55,640 this year, with an income of £489,563 and expenditure of £545,203. Compared with last year, income is up by £96,436 and expenditure appears to have increased by £91,328. Bank accounts have a credit balance of £126,040.

The greatest risks the school currently faces is the adequate maintenance of our physical environment and development of our facilities as well as management, training, continuing professional development and adequate remuneration of teachers and other school employees. A small pay rise was given to teachers beginning in June 2022 however the ambition to provide appropriate salaries remains.

The Board of Trustees is responsible for the management of risks faced by the School. Detailed considerations of risk are delegated to the teams established to deal with each of these areas. Risks are identified and assessed and controls established throughout the year.

Key controls used by the charity include:

Through the risk management processes established for the school, the Board of Trustees is satisfied that the major risks identified have now been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Board of Trustees of the School continues to work closely with the Head Teacher to update risk assessment processes and review areas of major risk within the School.

Reserves policy

The charity had unrestricted reserves of £125,625 at the year end. The Board of Trustees recognises the desirability of increasing reserves which is dependent on increasing the enrolment of pupils, greater grant funds and other fund-raising activities.

FUTURE PLANS

The school continues to face some challenges common to a school of its size in terms of delivering a broad range of subjects in the upper school, however the Board are comforted by progress that has been made to date and by the high standard of delivery by teaching staff. The Board of Trustees recognises that the school is now operating in a social, economic and legislative environment that requires regular proactive review of the way it operates, as well as rigorous management structures to support efficient and effective management and governance.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Call out for Board membership is made via a number of channels including the school website and advertising on voluntary and charity sector websites. New members to the Board of Trustees are formally recruited and are appointed, as per the Articles of Association. Trusteeship is ratified at the Annual General Meeting.

New trustees receive the relevant documents including information about the role of administration at a Steiner Waldorf school. A skills assessment of the Board is carried out on an annual basis. More formal training is also planned on an annual basis with the Steiner Waldorf Fellowship and NICVA.

3

HOLYWOOD STEINER SCHOOL LIMITED

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Decision making

The Board of Trustees, as Trustees of the Holywood Steiner School Limited, are responsible for the overall legal and financial management of the school. The full Board of Trustees meet once a month throughout the year, the sub committees (detailed below) also meet monthly and present recommendation to the full Board of Trustees. All Trustees, the Development Manager and the headteacher are also invited to participate in a strategic development workshop once each quarter. The work of implementing policies is carried out by both teaching and non-teaching teams, and the HR Sub Committee which have been instituted by the Board of Trustees.

The Board of Trustees has designated the following sub committees:

HR Sub Committee - overseeing policies, recruitment and compliance.

Development Sub Committee - overseeing the development of the school (physical - grounds and maintenance, charitable and educational).

Finance Sub Committee - overseeing the income and expenditure.

The day to day running of the school was delegated to the Headteacher, admin staff and teaching reps, a body of experienced Teachers who have responsibility for the pedagogical life of the school.

Wider network

The school is a member of NICVA (Northern Ireland Council for Voluntary Action), since January 2008 and as a member it can avail of advice and services. The school is a member of the Steiner Waldorf Schools Fellowship which provides advice, training and a link to other UK and Irish Steiner schools.

The Holywood Steiner School was founded in 1975 to provide a Steiner/Waldorf education in Northern Ireland. The Holywood Steiner School Limited is a company limited by guarantee founded in 1977 and is registered as a charitable company with the HM Revenue & Customs and the Charity Commission for Northern Ireland. Its registered office and main business address is 34 Croft Road, Holywood, Co Down, BT18 0PR.

The structure of the Charity during 2021/22 consisted of the Board of Trustees who managed the business of the Association. The Headteacher who managed the school with assistance from the administration team and Early Years, Lower School and Upper School Teaching reps.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

NI012003 (Northern Ireland)

Registered Charity number

103712

Registered office

34 Croft Road Holywood Co. Down BT18 0PR

4

HOLYWOOD STEINER SCHOOL LIMITED

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2022

Trustees

Ms Esther Haller Clarke Director Ms Caroline Mary Ball Project Manager Prof John Barry Academic (resigned 1/2/2022) Mr Garret O'Fachtna Trade Union Coordinator Mr Paul McTernan Town Planner Mr Gerry Warwick Accountant Ms Sinead Black Designer (resigned 19/5/2022) Mr Gareth Dalzell Company Director Mrs Mary Roulston Retired Teacher Ms Sarah Dalzell Company Director (appointed 1/10/2021) (resigned 19/5/2022) Jenny Holland Company Director (appointed 3/2/2022)

Company Secretary

Ms Stephanie Jones

Auditors

M.B.McGrady & Co Chartered Accountants Statutory Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH

Bankers

Bank of Ireland 1 Donegall Square South Belfast BT1 5LR

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Holywood Steiner School Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping 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.

5

HOLYWOOD STEINER SCHOOL LIMITED

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

In so far as the trustees are aware:

AUDITORS

The auditors, M.B.McGrady & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 16 May 2023 and signed on its behalf by:

Ms Caroline Mary Ball - Trustee

6

Report of the Independent Auditors to the Trustees of Holywood Steiner School Limited

Opinion

We have audited the financial statements of Holywood Steiner School Limited (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditors' 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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

7

Report of the Independent Auditors to the Trustees of Holywood Steiner School Limited

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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 our procedures are capable of detecting irregularities, including fraud is detailed below:

**ERROR - DATA SCREEN - DETECTING IRREGULARITIES - TEXT SHOULD BE ENTERED HERE

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

M.B.McGrady & Co Chartered Accountants Statutory Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH

16 May 2023

8

HOLYWOOD STEINER SCHOOL LIMITED

Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2022

31/8/22
Unrestricted
Restricted
Total
funds
fund
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,605
-
2,605
Charitable activities
Charitable Activities
455,260
5,429
460,689
Other trading activities
2
26,006
-
26,006
Investment income
3
263
-
263
Total
484,134
5,429
489,563
EXPENDITURE ON
Charitable activities
Charitable Activities
537,292
7,911
545,203
NET INCOME/(EXPENDITURE)
(53,158)
(2,482)
(55,640)
Transfers between funds
15
2,279
(2,279)
-
Net movement in funds
(50,879)
(4,761)
(55,640)
RECONCILIATION OF FUNDS
Total funds brought forward
176,504
254,928
431,432
TOTAL FUNDS CARRIED FORWARD
125,625
250,167
375,792		 31/8/21
Total
funds
£
10,235
365,612
17,238
42
393,127
453,875
(60,748)
-
(60,748)
492,180
431,432

The notes form part of these financial statements

9

HOLYWOOD STEINER SCHOOL LIMITED

Balance Sheet 31 AUGUST 2022

Notes
FIXED ASSETS
Tangible assets
8
Investments
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
PENSION LIABILITY
16
NET ASSETS
FUNDS
15
Unrestricted funds:
General fund
Designated funds
Restricted funds:
Restricted fund
TOTAL FUNDS		 31/8/22
£
477,283
4,469
481,752
24,754
126,040
150,794
(107,556)
43,238
524,990
(59,000)
(90,198)
375,792
215,823
(90,198)
125,625
250,167
375,792		 31/8/21
£
471,227
6,550
477,777
22,944
180,913
203,857
(88,379)
115,478
593,255
(64,165)
(97,658)
431,432
281,381
(104,877)
176,504
254,928
431,432

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The notes form part of these financial statements

continued...

10

HOLYWOOD STEINER SCHOOL LIMITED

Balance Sheet - continued 31 AUGUST 2022

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2023 and were signed on its behalf by:

Ms Caroline Mary Ball - Trustee

The notes form part of these financial statements

11

HOLYWOOD STEINER SCHOOL LIMITED

Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31/8/22
£
(28,209)
(28,209)
(26,927)
-
263
(26,664)
(54,873)
180,913
126,040		 31/8/21
£
14,916
14,916
(40,925)
153
42
(40,730)
(25,814)
245,973
180,913

The notes form part of these financial statements

12

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2022

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31/8/22 31/8/21
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (55,640) (60,748)
Adjustments for:
Depreciation charges 20,871 19,111
Interest received (263) (42)
(Gain) / Loss on Investment 2,081 -
(Increase)/decrease in debtors (1,810) 3,334
Increase in creditors 14,012 53,261
Difference between pension charge and cash contributions (7,460) -
Net cash (used in)/provided by operations (28,209) 14,916
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1/9/21 Cash flow At 31/8/22
£ £ £
Net cash
Cash at bank and in hand 180,913 (54,873) 126,040
180,913 (54,873) 126,040
Debt
Debts falling due within 1 year - (5,165) (5,165)
Debts falling due after 1 year (64,165) 5,165 (59,000)
(64,165) - (64,165)
Total 116,748 (54,873) 61,875

The notes form part of these financial statements

13

HOLYWOOD STEINER SCHOOL LIMITED

Error Messages from the Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2022

** LAST YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS
AS CALCULATED IN CASH FLOW STATEMENT
DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET
COMPARE MOVEMENT ON CASH FLOW STATEMENT (25,814)
TO
MOVEMENT PER BALANCE SHEET
CASH AND CASH EQUIVALENTS (65,060)

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 10% on cost Computer equipment - 10% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

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

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

15

continued...

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

2. OTHER TRADING ACTIVITIES

2. OTHER TRADING ACTIVITIES
31/8/22 31/8/21
£ £
Playgroup Income 17,100 17,238
Guest Student 7,436 -
Choir Income 33 -
Afterschool club income 850 -
Parent and child group 587 -
26,006 17,238
3. INVESTMENT INCOME
31/8/22 31/8/21
£ £
Interest Receivable 263 42
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31/8/22 31/8/21
£ £
Depreciation - owned assets 20,871 18,933

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

6. STAFF COSTS

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

31/8/22 31/8/21
Teaching staff 19 17
Non-teaching staff 5 4
24 21

No employees received emoluments in excess of £60,000.

16

continued...

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

7.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
511
9,724
Charitable activities
Charitable Activities
355,666
9,946
Other trading activities
17,238
-
Investment income
42
-
Total
373,457
19,670
EXPENDITURE ON
Charitable activities
Charitable Activities
448,811
5,064
NET INCOME/(EXPENDITURE)
(75,354)
14,606
RECONCILIATION OF FUNDS
Total funds brought forward
251,858
240,322
TOTAL FUNDS CARRIED FORWARD
176,504
254,928
8.
TANGIBLE FIXED ASSETS
Improvements
Fixtures
Freehold
to
and
Computer
property
property
fittings
equipment
£
£
£
£
COST
At 1 September 2021
722,412
-
97,093
14,856
Additions
-
23,440
2,988
499
At 31 August 2022
722,412
23,440
100,081
15,355
DEPRECIATION
At 1 September 2021
297,644
-
59,941
5,549
Charge for year
14,448
293
4,618
1,512
At 31 August 2022
312,092
293
64,559
7,061
NET BOOK VALUE
At 31 August 2022
410,320
23,147
35,522
8,294
At 31 August 2021
424,768
-
37,152
9,307		 Total
funds
£
10,235
365,612
17,238
42
393,127
453,875
(60,748)
492,180
431,432
Totals
£
834,361
26,927
861,288
363,134
20,871
384,005
477,283
471,227

continued...

17

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

9. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Unlisted
investments
£
MARKET VALUE
At 1 September 2021 6,550
Movement in year (2,081)
At 31 August 2022 4,469
NET BOOK VALUE
At 31 August 2022 4,469
At 31 August 2021 6,550

There were no investment assets outside the UK.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans (see note 13)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 31/8/22
£
21,566
367
2,821
24,754
31/8/22
£
5,165
11,423
10,887
73,898
6,183
107,556		 31/8/21
£
9,479
3,511
9,954
22,944
31/8/21
£
-
17,684
6,268
61,691
2,736
88,379

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

continued...

18

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Other loans (see note 13)
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
funds
£
Fixed assets
227,116
Investments
4,469
Current assets
150,794
Current liabilities
(107,556)
Long term liabilities
(59,000)
Pension liability
(90,198)
125,625
15.
MOVEMENT IN FUNDS
At 1/9/21
£
Unrestricted funds
General fund
281,381
Designated funds
(104,877)
176,504
Restricted funds
Restricted fund
254,928
TOTAL FUNDS
431,432		 Restricted
fund
£
250,167
-
-
-
-
-
250,167
Net
movement
in funds
£
(67,837)
14,679
(53,158)
(2,482)
(55,640)		 31/8/22
£
59,000
31/8/22
£
5,165
59,000
31/8/22
Total
funds
£
477,283
4,469
150,794
(107,556)
(59,000)
(90,198)
375,792
Transfers
between
funds
£
2,279
-
2,279
(2,279)
-		 31/8/21
£
64,165
31/8/21
£
-
64,165
31/8/21
Total
funds
£
471,227
6,550
203,857
(88,379)
(64,165)
(97,658)
431,432
At
31/8/22
£
215,823
(90,198)
125,625
250,167
375,792

continued...

19

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated funds
Restricted funds
Restricted fund
TOTAL FUNDS
Comparatives for movement in funds		 Incoming
resources
£
484,134
-
484,134
5,429
489,563		 Resources
Movement
expended
in funds
£
£
(551,971)
(67,837)
14,679
14,679
(537,292)
(53,158)
(7,911)
(2,482)
(545,203)
(55,640)
At 1/9/20
£
Unrestricted funds
General fund
356,735
Designated funds
(104,877)
251,858
Restricted funds
Restricted fund
240,322
TOTAL FUNDS
492,180
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
373,457
Restricted funds
Restricted fund
19,670
TOTAL FUNDS
393,127		 Net
movement
At
in funds
31/8/21
£
£
(75,354)
281,381
-
(104,877)
(75,354)
176,504
14,606
254,928
(60,748)
431,432
Resources
Movement
expended
in funds
£
£
(448,811)
(75,354)
(5,064)
14,606
(453,875)
(60,748)

continued...

20

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated funds
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1/9/20
£
356,735
(104,877)
251,858
240,322
492,180		 Net
movement
in funds
£
(143,191)
14,679
(128,512)
12,124
(116,388)		 Transfers
between
funds
£
2,279
-
2,279
(2,279)
-		 At
31/8/22
£
215,823
(90,198)
125,625
250,167
375,792

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated funds
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
857,591
(1,000,782 )
(143,191)
-
14,679
14,679
857,591
(986,103)
(128,512)
25,099
(12,975)
12,124
882,690
(999,078)
(116,388)

16. EMPLOYEE BENEFIT OBLIGATIONS

A full actuarial valuation has not been carried out as at 31 August 2022. However based on an estimated funding position provided by the pension scheme, the trustees are confident that the pension liability included in the financial statements is reasonable.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The cost of providing benefits under defined benefit plans is determined separately and is based on actuarial calculations.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as incurred.

continued...

21

HOLYWOOD STEINER SCHOOL LIMITED

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2022

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2022.

22

HOLYWOOD STEINER SCHOOL LIMITED

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2022

31/8/22 31/8/21
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations and Gifts 2,605 10,235
Other trading activities
Playgroup Income 17,100 17,238
Guest Student 7,436 -
Choir Income 33 -
Afterschool club income 850 -
Parent and child group 587 -
26,006 17,238
Investment income
Interest Receivable 263 42
Charitable activities
Parental Contributions 452,518 306,805
Grants 6,729 19,670
Other Income 1,442 39,137
460,689 365,612
Total incoming resources 489,563 393,127
EXPENDITURE
Charitable activities
Staff Costs 373,996 317,773
Social security 22,643 22,372
Pensions 10,553 9,221
Equipment Rental 3,606 4,953
Education Supplies 17,968 4,765
Steiner School Fellowship 1,750 1,235
Examination Expenses 1,989 1
Staff Travel and Training 3,448 770
Bad Debt - 181
Increase in Bad Debt Provision 4,450 4,746
Supply Teachers 232 1,477
Other Direct Expenses - 220
Grant expenditure 1,109 -
Event expenses 41 25
Depreciation and Impairments 20,872 19,086
462,657 386,825

This page does not form part of the statutory financial statements

23

HOLYWOOD STEINER SCHOOL LIMITED

Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2022

31/8/22 31/8/21
£ £
Support costs
Management
Rates and water 607 542
Insurance 13,858 11,692
Light and heat 20,324 7,981
Telephone and Internet 3,997 3,589
Other Office Costs 4,541 4,151
Advertising 2,919 4,801
Computer and Website Costs 3,090 1,799
49,336 34,555
Finance
Legal and Professional Fees 13,735 14,895
Sundries 1,594 524
Bank charges 1,170 999
16,499 16,418
Information technology
Repairs and maintenance 13,010 14,277
Human resources
Movement on investments 2,081 -
Governance costs
Accountancy fees 1,620 1,800
Total resources expended 545,203 453,875
Net expenditure (55,640) (60,748)

This page does not form part of the statutory financial statements

24