REGISTEREI D COMPANY NUMBER: NIU12003 (Northern Ireland) REGISTF.RED CHARITY NUMBER.. 103712 Report of the Trustees and Audittd fiiiianeial Statemtnts ror the Year Ei nded 31 August 2023 for HOLYWOOD STEINEII SCHOOL LIMITED M.B.McGrady & Co Chartered Accoiintants Statutoiy Auditors Suite 2B Cadogan Flouse 322 Lisbui'n Road Belfast Co. Antriin BT9 6GH
HOLYWOOD STEINER SCHOOL LIMITED Contents of the Fijianeial Statenients FOR THE YEAR ENDED 31 AUGUST 2023 Page Report of the Trustees I to 8 Statetnent of Tru5tee5' R¢sportsibilities Report of the Independent Auditoi's 10 to 13 statement of Financial Activitie5 14 Klalanc¢ Sheet 15 CAsh Floiv Statem¢Dt 16 Notes to the Financial Statement5 17 to 28 Detailed Statement of Fiiiancigl Activities 29 to 30
HOLYWOOD ElNER SCHOOL LIMITED Report of the Trustees FOR THE YIAR ENDII D 31 AUGUST 2023 The trustees who are also dire¢tOJS Df the chaiity for the purposes of the Coinpanies Act 2006, pi'esent their repoit with the financial stateinenis of the charity for the year ended 31 August 2023. The trnstees have adopted the provisions of Accrjunting and ReporLing by Charsties.. Statcrncnt of Recoinmended Pi'actice appliLable to charities prepai'sng theii. account5 in accoimlance with the Financial Reporting Standard applicable in ihe UK and Republic of Ireland (FKS 102) (effective l January 2019). The RepoTt of the Trustees incorporates the Stiategic Report.
HOLYWOOD STEINER SCHOOL LIMITED Rcporl of the Trustees FOR THE YEAR ENDEID 31 AUGUST 2023 OBJECTIVES AND ACTIVITIES Objectives 2nd aims Introduetion Foiinded in 1975, Holywood Steinei. School (HSS) operates as a co-educational and independent school that offers the Steiner Waldoi'f curi'iculum for sthdents aged from 3 to 17 y¢ai'5 Old. Unlike Inainstiram education, the Waldorf Inodel provides tlie tiine and space for each child tL) leai'n and grow at their own pace. allowing thetn to fully grasp a concept or achieve a skill when they are i"eady. The school sti'ives to provide a Yich, diverse and integi'at¢d edllcation, where cooperation takes priority over competition. HSS is a member of the Steiner Waldoj'f Schools Fellowship of the United Kingdoill (UK) and Ireland. Tlie Fellowsliip Ippres¢iits 31 schools and co-ordinates Steitier curi'iculuin I'esearch and developTt]¢nt, support5 teacher training PI'O&TIDiiTrri)es, and provides advisory atjd met)toring services to Ineinber schoo15. The Fellowship 19 part of the international Eui'opean CoLfftciI for Steiner WAldoi'f Education (ECSWE.) comprising 26 national Steinei. Waldorf AssociatioiTrs, i'Epre5entitLg over 680 s¢hools in Europe. Mi55ion, Vision nd Value5 HSS'S ilSsion is to "inspire students through the dclivery of the Steiner Waldorf Cu¥riculLlln and develop a strong connection between childreR and thetr teachers" Its vision is to'engage the head, the heajl, and the hai)ds, entlJuse the cliild with cui'iosity and a sense of wonder for the world and inspire a love of leai'ning that will 12t5t a lifetiine" HSS, values are set out below.. Acceptsnce . we recognise our responsibility to nurture the child. We 31tn to pr¢par¢ students for life in a culturally diveTs¢ society by developing tolerant. ai'ticulate, Jnotivaied and mature individuals. ConnedÈon - a Ineaiiingful relationship is fostei'ed between the child, teacher, and ¢lass. Parents al'e iinmersed into tl)eii' child's School life artd fi'equently involved within tlie school coiiiinunity. Love of l¢arning - we ¢ncourage all childreD, regai'dless of ability, to find the joy in leorning, to believe in theinselves aiid to be motivated to succeed in their chosen path in lift. Independeiice - ouy pi's01'ity is to support every ch51d and provide them wiih fum foundations so that they can develop inio fire thinkino morally responsible. and confident tneinbei'g of society. The Boai'd of Trustees hos followed the guidance issued by the Charity COln)iSsion in deciding what activities the chw'ity should undertake. The objective lor the school during the year was to coniinue to provide a quality Steiner Waldoi'f ediication in the Early Year5 and Lowei. School and to pi'ovide a balanced and quality education iii the Upper School based on both Steiper Waldorf and National Currieiilums. The oiigoing support of the College of Te8chers' and Iheii. continuous work ensiii'es the essence of the Steaner Waldoif Cun'iculuin i'emains strong the school. additional objective was to further develop the school's strategie plan and to continue to increase the nuiiiber of students enrolled while InaintasTriiig an environinent conducive to delivei'ing a quality Sreinei. Waldoi'f education.
HOLYWOOD STEINER SCHOOL LIMITED R¢port of the Trustees FOR THE YEAR l(NDED 31 AUGUST 2023 OBJECTIVES AND AcfIvITIES Significant aetivities During this year, the sfjhool's enrolliiient was 152 students, which represents an overall increase fi'trin the previous period.'fhi5 is disaggregated a5 follows.. Preschool (34 yeai's old}- 12 (full capacity) Kindei'garten (4- 6 year5 old) - 9 {down from 17 in the previous period) Lower Schaol, classes I to 7 (6 - 14 yeai'5 old)- 71 (up flom 58 in the previous period) Upper School, classes 8 to 11 (13 - 17 years old)- 60 (p froin 51 in the previous pei'iod) Tlie school is yet to reach capacity and 15 actively prointsting itself and Seeking new students, not only to inri'¢as¢ incoTne lo the school, but also to enhance the pedagogic environment conducive to a Steiner Waldorf ¢ducation. WalkthTough opportunities and a one-to-one with the Head Teacher continue to be key in the promotion of the school and its offer. There were 34 walkthroughs during this fi1)8ncial year that resulted in 16 new sNdents. In additioni group walkthrough momings weie scheduled and publici5ed a¢rosS the COiT21niinity and on digstal channels siich as the school website, with consid¢i'able interest and atteiidaiice noted. The traditional community-facing events took place this year with the iE~introdu¢tion of the Easier fayiE and the vei'y successful Christinas F&yre. Both events helped rase vital funds for the sclLooI a9 well as pi'ovidiiig an opportunity to raise (he school'5 pi'ofile within the ¢ominunity. During this reporting peiiod, the h0o1 appointed the following new p05t5 that coiiiinenced in August 2023: Kindergarteii Assistant Upper School Ali Geography Teacher Upp¢r Scliool Maths and Sciei)ce Tea¢h¢i' (who replaced the previous teacher who left after Inaiiy ytars, servi¢el Class Otte Teacher Class Six Teachei. Volunt¢ers The school relies heavily on volunteer activity for a significant amouni of work, partlCLilarly in areas siich as.. Fundraising Public Relation5 (PR) and development GrouTids keeping and Inaintenance The Parents & Frieiids Association (PFA) contiiiues to raise vital fiinds for the school e.g. coffee and crafi mornings for pai'eiits.
HOLYWOOD STEINER SCHOOL LIMITED RepTrrt of the Trustee5 VOII THE YEAR INDED 31 AUGUST 2023 STRATEGIC REI PORT Achicvcment and performance CharÉtable aetivitics Key achieveinents diiring the year included.. Preschool received an outstgnding annual inspe¢tion report with no ai'eas for in)provement highlighted by Social Services. The School's Profe55ion81 Development Fram¢woTk was intiY)duced and the nlber of siaff availing of Continuing Pi'ofessional Developinent (CPD) increased fi'oin 14 to 18 during the period. Consequently, tlie aniiual budgei for Coiitinuing Professional Developinent ICPD) was incre3sed by 150/0. The 3-year School Developinent Plaii12022-2025) was introduced. The school introdiiced a successful studeni council and external counselling sei'vice. 21 out of 24 key priorities wei'e achieved, leading to an iinpi'oved provision and experience for pupils. For exaittpl¢, 88Tr/0 of pupils achieved 7 A* C GCSE grades in¢ludii)g English and Maths in 2023 {up 2 pei'centage points from the previous year). These GCSE re%ult5 continue to be well above the Noi'ihern Ireland averages. Financial revieiv Fiiiaiicial position The Triistees i'eport a deficit of £15,807 for the period, with incoine of £689.220 and expenditure of £705,027. When compaied to the prevaous pei'iod.. Incoine increased by £199.657 Ifroin £489,563), which is largely de to an increase in 5tudcnt enrolinent (froin 127 to l521. Expenditiire increased by £159,824 (fi'om £545,203), which is due to increased staff Costs following recruitment of ojie additional teacher and foiii. additional non-teaching staff. A5 of 3 1st AugLlSt 2023, bank accoiints have a credit balance of £146,507. The greatest financsal risks i'elate to the overall opeFation and sustainability of the school, along with the maint¢n3nc¢ and Tepair of the physical blIdng$ and 115 envii'ons. Given that 8fj0/o + of the income is derivcd fi'om the school fees, thei'e is a significant i'isk if student enroliftent decre&ses oi. ¥einaiiis static in futui'e years as tli¢ school will thcn I'isk opei'ating in a deficit {which is iinsiistainable). Indeed, (his has be¢ii the case for several of the yeai'5 pIEc¢dillg this p¢riod. The Board of Trustees recognise5 that the continued success of the school lincludii)g its financial viability and sustainability) needs to be based on a 51rategy fDciised on encouraging Student ei)rolment and siudeni I'etention, coupled with an aiinual review of fees to full}, cover opeiating costs. The capacity for gi'owth is also recognised as key to increasing salai'ies for teachers. This needs to be carefully balanced with the strong desire to continue delivei'ing a quality Steiner Waldor£edii¢ation, otie that lfI1S the school'5 stated inission, vision and valiies. Reserves policy The charity had reserves of £359,985 at tlie year end. This is Inade Rip of £190,154 in general unrestricted funds, (£82,158) of designated funds and £251,989 of Jrstricted funds. The desionated rtd$ ielate to a histr>ric defined benefit pension liability. The Board of Trustees seeks to a¢tively InaTrage the finances of the school to ensure that activities are siistainable for the benefit of all stakeholders. FollowEng best practice guidAnce, the Board of Trustees has developed a Reserves Policy as this is an important part of financial inanaqement and forwai'd financial planning. The Board ot Trustees is dering Irdlegies to gen¢i'ate sufficient J'eserves that WEII seivice 3-6 inonths of operating costs should there be unexpected events {sii¢h as an annual opet7ting deficit oi. unforesttn and anon)alous exp¢nditiires) andlor shoi'italls in incoine (e.g. a reduction in incoine associated wilh a decrease Én student numbers).
HOLYWOOD STEINER SCHOOL LIMITCI D Report of the Truste¢5 FOR THE YEI AR ENDED JI AUGusf 2023 SIRATEGIC REPORT Financtal revieiv Going coti¢ern The trustees belicve th3t the charity will continue as a gliing concern. The trustees and the Headteaeher, suppoilcd by the staff, are in the process uf delivering the school's Strategy 2025, Ivith a view to updatiiig thÈs strateg), (up to 2027) in th¢ comtng mcbnths. The contiDu¢d success of the school (iiicliiding its finaiicial viability and siistainLbiliry} will be based Qll thss Strategy which will fo¢us on encouraging stiideni enrolineiit alld student i'etention, coupled with an annual Tevi¢w of fees and altei'native fund-raising activities to fully cover operating c05t5 and contribute towards our reserves. Priiieipal risl(5 and uneertainties The Boai'd of Trustee5 is I'esponsible for the manageinent of risks faced by the school. tktailed considerntions of I'isk are delegated to the teams establislied to deal with each of these llreas. Risks al'e identified and assesged, and ¢onti'ols established throughout the year. Key controls used by the ¢haJ'ity include.. FotThal agendas and ininutes for all Boai'd relatEd activities. tktailed goals. ol)j¢c(ives and tasks for all school teains. Compi"ehensive strategic planning, budgeting and inanageineni accounting. Foi'inal written policies and proeedllres. Vetting and cliild protection procedures as requii'ed by law for the pi'ot£ctioi) of the stiidents. Throu&Jh the Tisk iyi<inageineiit pi'ocesses established for the school, tlie Roard of Trustees is satisfied Éhat the Inajor risks identified ait being adeq[telY ItIgated wl)ei'e necessaiy. It 15 1'ecogni%cd that systems can only pi'ovide reasonable but not absolute assui'anc¢ that Inajor risks have been adequat¢ly managed. Th¢ Board of Trustees continiies to work closely with the Head Teacher to update the risk register. risk assessment pro¢es5es and review areas of Inajor risk ivithin the school.
HOLYWOOD STEI INER SCHOOL LIMITED Report of the'l ru5tees "OR THE YEAR L¢NDED 31 AUGUST 2023 STRATEGIC REPORT Future plans The Board of Triistees and the Headteachei., supported by the Staff, arE in the proces5 of delivering tlie school's Strategy 2025, with a view to updating this sli'alcgy (lip lo 2027) in the cotnitjg months. The ainbitloll 5Ct out in that strategy for the schogl I'einains to traiisforni the s¢hooS from a local, hidden tirasure, to a school of iegional and international 5taiiding, Tecognispd foi. deliveriiig an outstanding creative educational prograin to each individual child, and instilling a love of learning in tliein. The Board of Triistces recogyises that collaboration and engagement with the wider school Coininunity. including teachers and parent&lcaiErs, is crucial to.. Help identify strengihs and ai'eas for improvement,. Infoim the schoDI's developincnt plan., aiid Drive the school's gi'owth and ensure continual enhancement it) educAtion. To support a shared coimmsttnent to ex¢ellence, thc Boai'd of Trustees sought the vi¢ws of *a¢hers and parentslcarei's on several aspects i'elating to th¢ school. FJnei'ging priorities froit) this ¢xercise include.. Maintaining the siibstantial achievements Inade in pre-5¢hool and lower school, while acknowledging there are ¢ultiiral and educational Ti¢ed5 that illust be addressed in the upper school. The School's physical buildings and its envii'ons reqiiire fiirthei. Inaintenance and I'epair (and Capital investsnent} to support educational enhancement. The intention of this collaboration and engageii)ent extends to Inaking sui'e the wider school cominunity is awaiE of what the school requires to increase its I'eservcs fund in line with the appropriate financial governance of the school's chai'itable staS and its business operational requirelents. The Boai'd of Trustees recognises the external post pandeinic envii'oninent within which the school operates reinains uncci'iain, due to n)acro political, legislative, economic and social challenges. Therefoie, the continued s¢te$S of the school {including its financial viabillty and sust8inftbility) needs to be based on a strategy focused on eiicoui'aging student enyolment and sthdent retention, coupled wath an artnual review of fees to fully cover operating costs, with a view to generating additional irseives in the next 3 years. Oiir fiiture plans coiitinue to be ainbitiolls, and it will be iinportant to review prooress on an ongoino basis. STRUCTURE, GOVERNANCE AND MANAGEMfi NT Governing documènt Holywood Steinei. School Limited (HSS) is a i'egistered cha]'ity, which 1% controlled by its govei'ning dociiinent, a deed of trnst, attd constitutes a limil£d coinpany, liinited by giiai?ntee, as defined by the Cojnpanies Act 2006. Recruitment and appointinent of new trustees New Jneiiiher%hip fDI' thc Bnard of Ti'iistees involves I'ecruiim¢nt ¢ainpaigns iiiade via several channels, includiiig ihe school website and advertising on Yolunlary and charity seotor w¢b5ites. Ne¥ Inembeis are formally Irciuited and appointed, as per the Articles of Association. Trusteeship is ratified at the Annual General Meeting. New tiSteeS receive the Yelevant documents including infoi'mation &bout the role of administlation at a Steinei. oi Waldorf school. A skills assessment of the Boai'd is Caled out on an annual basis. More fomial tt7ining is also scheduled on an annual basi5 with NICVA (Northern Ireland Council for Voluntary Action) and the Sieinei. Waldorf Fellowship.
HOLYWOOD STEINEI R SCHOOL LIMITED Report of tlie Trustees FOR THE YEAR ENDfiD 31 AUCUST2O23 STRUCTURE, GOVERNANCE AND MANAGEMENT Deeision making The Board of Trustees is responsible ftsr the effective goveTnance and overall legal and financial rnanagement of the school. The fill Board ot TTUStees meets once a Inonth throughout the year, atld it has designated the following siib coininittee5'. People & Culture Sub Comniitt¢e - ovei'seeing policies. recriiitinent and cotnpliance. The work of iinplementing policies 55 SUPPQTted by both teacliing and non-tea¢hing teains. Developmeiit Sub Coniinitlec - overseeing the developinent of the school {in ternis of the physical assets. grounds and Inainteiiance. the charitable wid educational activities etc.). Flnance Sub Commlttee- overseeing income and expenditure and financial related mattel's. The sub-cominittees also meet inonthly and present recommendatEons to the 1[ Board of Trllstees. Tht Boai'd of Ti'ustees appoints (employs) all IneinbeTS of Staff. It delegates re5pon5ibility for the effective manageinent of the school to the Head Teacher and the College of Teachers. The task of the Board of Trustees is to hold an awai'en¢s5 Of, and makc d¢¢isions about. what is in the best long-temi inteT¢sts of the whole s¢hool. The Headteacher, siipported by a Senior Leadership Team, is responsible for the effective leadership and management of the ]1()1. All Ti'iistees and the Head Teacher are also invited to participate in a strategic development workshop bi-annually. In addition. a strategy sessioil with staff was held lo gain their valuable inpiit on the school's Strategy 2025, with a view to iipdating this strategy (up to 2027) iii the coming months, Escalation of issues tha( ai'ise that cannot be resolved following the docun)ented processes cai) be escalated directly to the Board of Trustees. Key managemcnt rtmuneration The iemuneration for senRoi' management is based on siinilar posts ai)d corresponding paystales nd¢d by the Departsnent of Education Nl. The mcn)bei"s of the Senioi. Leftdership Team (two Heads of Scliool and a Leaining Support Coordinator) ar¢ paid an 8dditional £120 p¢r Inonth, othti.Wst iefei'r¢d to in the education se¢tor as a salary point foi. responsibility. A salaTy point paid foi. by the Depathient of Education Nl is over £200 pei. illonth. Widtr netivork Tlie s¢hool h8$ b¢en a meinber of NICVA (Northem Ireland Council for Voluntaiy Action) since January 2008 and as a meinber it can avail of advice and services. The school is a IneTMber of the Steiner Waldorf Schools Fellowship which provides advice, ti'aining and a link to othei. UK and Ii'ish Steiner schools. The Holywood Steiner S¢hool was founded in 1975 to provide a Steinerlwaldoi'f education in Northern Ireland. The Holywood Steiner School Limited is a coinpany limited by giiarantee founded in 1977 and is registeied as a charitable company with the HM Reveiiue & Custoins and the Chai'ity Cominission for Noithern Ireland. Its registei'ed office and maiii business address is 34 Croft Road, Holywood, Co Down, BT18 OPR. The stiucture of the Charity during 2022f23 consisted of the Boai'd of Trustees who Inanaged the business of the Associatiom. The Headteacher managed th¢ school with assistanc¢ from th¢ Jdministi?tion team and Early Years, Lower School aiid Lpper School Teaching representatives. REFERF.IYCE AND ADMINISTRATIVE DETAILS Re£istei'ed Company number NIO12003 (Northen) Ii'eland)
HOL YWOOD STEINER SCHOOL LIMITED Repoi't of the Tru51ees FOR THE YErAR EIYDED 31 AUGUST 2023 Registered Charity nurnber 103712 Registered office 34 Croft Road Holywood Co. Dowt) BTI8 OPR Trustees Ms Esther Haller Clarke- Dii'ector (iesigned 231512023) M5 Cartrline Mary Ball - Filin Pi'oducer (resigned 211512024) Dr LR5a Siinpwn {2ppointcd 211512024) Mr Garret O'Fachtn8 (appoinied 2115ll024J Mr Paul McTernaii Town Planner (resigned 231512023) Mr Gerry Warivick- Accountant (Yesigi)ed 211512023) Mr GaTeth Dalzell~ Compaiiy Directoi. (resigned 231512023) Mi's Mary Roulston - Retiied Teachei. (resigned 211512024) Ms Jenny Holland (appointed 211512024) Mi. Micliael Denny (appointed 311112023) Ms Ashling Gi"ay (appointed 181112024) Ms Doiiiinique MegArry (appointed I IJ312024) Mr Da¥ren MoffEtt- Mai'keting Dii'ector (appointed 291512023) (resigned 291512024) Mr Chris Preston Coinpany Director (appointed 2915r2023} (resigiied 2115120241 Ms Aoife Cunningham (appointed 211512024) Ms Stephanie Jones - Secietaiy IIEsigned 231512023) Audltors M.B.McGrady & Co Cliartered Accoiintants Stalutury Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrtm BT9 6GH BaDker5 Bank of Iieland l Donegall Squ&re South Belfast BTI 5LR AUDITORS The auditors, M.B.McGI'ady & Co, will be proposed for re-appointinent at the forthcoming Annual Getteral Meeting. Report of the trustees, incorpoi'ating a straiegic report, approved by order of the board of trustee5, a5 the toinpany ctors, on 28 Aiigust 2024 and signed the boai'd's b¢h31f by: Gari'ei O'F htna.T Ist¢
HOLYWOOD sfEINER SCHOOL LIMITED Slatement of Trustees, Resp0115ibilities FOR THE YEAR ENDEI D 31 AUGUST 2023 The tru5tee5 (who are also the directors of Holywood Steiner School Limited for the purposes of ¢OTnpany law) are responsible for pieparin£ the Repoi1 of the Trustees and the tinancial stateinents in accordanGe with applicable law and United Kingdom Accounting Standards (United Kingdoin G¢neially Accepted Accounting Practice). Coinpany law requires the trL]Stees to prepare financial stateinents for each fii)an¢ial yeai. which give a true and fair view of the slate of affaii's of th¢ Charitable conipany and of the incoming iesi)urces and application of resources, inrluding the incoine and expendituie, of the charitable company for that period. In preparing those financial slateinents, the trustees are reqiiired to select suitable accounting policieg and then apply thein Consistently,. observe the methods and pi'ijiciples in the Chai'ity SORP- Inake judgeinents and e5timate5 that ale reasonable and pi'udent. pIEpare the fjnancial stattments on the going concern basis unless it is inappi'opriate to presuine that the ¢haritabl¢ company will cOntiuC in business. The trustees are Tespon5ible foi. keeping proper accDlltitinu records which disclose with ieasonable oCCU13Cy at any tiine the financial position of the charitable coimpany and to enable thEin to en511re that the financial siateineiits coinply with the Companies Act 2006. They are also respollsibl¢ for 5afegllai.ding the assets of the chai'itable coinpany and hence for takiiig reasonable steps for the pi'ovention and detection of fraud and otliei. irregiilarities. In so fai. as the ts'ustees are aware.. there is no relevant audii inforination of which the charitable company's aiiditojs are unaware, and the Irustees have taken all steps that they oiight to have taken to make themselves awai'e of any relevant aiidit infoYinatiotL and to establish that tlie aiiditors are aware of tl)at inforination.
Report of the Indep¥ndenl Auditors to the Trustees and Menibers of Holyivood Steiner Schuol Limited OpSnion We have audited the financial stateinents of HLilywood Steiner School Liinittd (the 'charitable compat)y') for the yeai. ¢nded 31 August2023 which compTise the Statement of Financsal Activities, the Balance Sheet, the Cash Flow Stateinent and notes to the financial itateinents, including a suininaiy of significant accoiintEng policies. The financial repoltins fi"amewoi'k that has been Bpplied in their PlEparation is applicable law and United Kingdom Accounting Standards IUnEted Kingdoin Generally Accepted Accoiinting Practice). In oui. opinion the financ5al statements.. give a true and fail. view of the state of the charitable eoihpatjy's affairs &s at 31 August 2023 and of its in¢on]ing re50LITce5 and application of resour¢es, ijicludin8 Its ineoime ttnd expenditure, for the ycar then ended,. have been pi'op¢rly prepared accordance with United Icintsdoin Generally AGccpled Accounting Pi'actice. and have been prepared in accordance with the r¢ouiiements of the Companies Act 2006. Basis for opinion We conducted our audit in accoi'daiicc with ljiternational Standards 011 Auditing (UK) (ISAS (IJKI) aiid applicable law. Our responsibilities uiider th05¢ Standards are fui'iher describcd in the Auditors, respoiJsibilEties for the audit of the financial statements section of our report. We are independent of the charitable company in accoi'dance with the ethical r£quireinents that are I'elev&nt to our audit of the finaiicial st8teinents in the UK, incliiding the FRC'S Ethicttl Standard, and we have fulfilled our other ethical Tesponsibilitics in accordance with these requireinents. We believe that the adit evidet)ce we have obtained 15 SiitTicient and appropi'iate to provide a basis for our opinion. ConclllSiOnS relHting to go&ng coiiecrn In auditing the financial staiements, we have concluded that the ti'ustees, use of the going concern basis of accoui)ting i the prepai'atiall nf thc financial staieinents is appi'opi'iate. Based on the work we have pei'fomied, Ive have not identified any mt*terial uncertaintie5 r¢latiiig to events or conditions that, individually or ¢olleciively, may cast significant doubt on the chai'itable coinpany's abil&ty to CDntiniie as a going concern foi. a period of at l¢ast twelve months froiii wheii the fjtkaneial stateinents are aiithorised For issue. Our responsibilities and the responsibiliiies of the trustees with irspect to going Concern ai'¢ de5cl.ibed in the relevart scctions of this i'¢poit, Othet. inforniatioii The trustees al'e iesponsible for the other infonnation. The otlier infonnkttion eoinprises the information ii)cluded in the Anniial Reptsi't, oiher than the financial 5tatenients and our Report of the Independent Auditors thereon. Our opiThion on the financial statements does not cover the other infoi'mation ai)d, except to the extent otherwise explicitly stated in our report, we do not express any foi'in of assurance cottelusion rhereon. En connection with our audit of ihe fin&n¢ial statements. our responsibility is to read the other infoi'ination Blld, in doing so. consider whethei. the other infonnation 15 materially iTrconsistent with the firtancial statements oi. oiii. kt]owledge obiaiiied in the aiidit oi. otherwise appeaiB to be Tnaterially misstated. If we idcntify such material u]COTJSiStencies or apparent inatei'ial mEsstatements, we are required to detei'mine whethei. tliis givcs rise to a material Inisstateinent in the financial statements themselves. Ir, based on the woi.k we have pei'forilled, we conclLide that there is a inaterial Inisstateinent of this othei. information. we are irquirtd to irpoil tliat fact. We have noihing to I'eport in this i'egard. Opinioiis on othei. ]natters prescribed by the Con]panies Act 2006 Itk our opinioi), based on the ivork undertaken in the course of the &udit.' the infoi'mation given in the Report of the Trustees for the financial year for which the fll)aiicial statements a prepared is consi5tenr with the financial statements; and the Repi)rt of thc Trustees has been prepared in accordaiice with appli¢able legal requireinenls. The coinparativ¢ fioiires foi. the Charity for the ye&r ended 31 August 2022 are unaiidiled. 10
Report of the Independent Auditors to tlie Trustces 8rJd Membeys of Holyiyood Steiner School Limited Matter5 on ivhich we are requir¢d to report by exception In the light of the knoivledge and understandii)g of the charit&ble ¢oinpany and its envirotsinent obtained in the course of the audit, w¢ have not identified matei'ial misstale]nents in the Report of the Trustees. We have nothing to repojt in respect of the following matters where the Coinpatties Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have noi been kept or retllms adequate foi. oiir audit have not been received from branches not visited by us; or Ihe fan(la[ Statements are not in ag¥eement with the accounting iecords and Irturns. or certain disclosures of trustees, remun¢iation specified by law are not Inade. or we have not received all the infoi'matioii and eyplanations we require for oiir audit- or the mistees were not entitled to take advantage Df the sinall companies exemption fi'tHT] the requii'ement to prepare a Sti"ategic Repoit or in prepariiig the Report of the Trustee5. Re8ponsibilitics rjf trustees As ¢xplained Inore fiilly in the Statement of Trustees, ResponsibiliÉies, the trustees (who ar¢ also the directors of the ¢hai'itable eompany for the purposes of coinpany law) are iesponsible for the pirparation of the flnancial siateinellts and foi. being sa(isfied that tliey giye ll true and fail. view, and for such iniernal conti'ol as the trustees detei'mine is necessary to enable th¢ prepai'ation of fin3Treial stateinents that are fire from matei'ial misstateinent, whethei. duc to fraLid or error. In pi'eparing the ftnallcial stateinents, the tti]stees are respon55ble foi. assess2ng the charitable coinpany's ability to continue as a going con¢eiY, disclosing, as applicable. Ivatters related to gDing concern and using the going concem basis of accounting Linless the tt'llstees eithei. intend to liquidate the chai'iiable company or to cease operations, or have o realistic altei'iiative bul to do so.
Rcport ol the Independent Audittsrs to the Trustee5 3nd Members of Holywood Steiner School Limited Our responsibilities for the audit of the finaneffial statements Our objectives are io obtain reasonable as$iirance about whether the fjiiancial stateinents as a whole are fl'ee froin Inaterial misstatemen¢ whethei. due to fraiid oi. ¢ri'or, and to issiie a Report of the Independent Aiiditors that include5 our opEnion. Reasonable assui'ance is a high level of asSance. but is not a guai'antee that an audit coiiducted in accordance with ISA5 IUKI will always detect a Inaterial misslateinent when it exists. Misstatements ai"is¢ froin fi'aud or error and are Considered Inatei'ial if, i1]dividually oi. in the aggregate, they could reasonably be expected to influence the ¢conoEnic decisions of Se1.5 taken on the bosis of ihese fiftancial stateinent5. The extenrt to whi¢h our audit was c2pable of detecting irr¢gularities including fraud Iri'egularities, including fraud, are insiances of non-coinplian¢E Wltli law5 and regulations. We design procedures in line with our responsibilities, outlined above, to deteet Inaterial Inisstatemen(s i'espect of irregularit2es, including fraud. In assessing and detecting I88[aritICS such as fraud and non-coinplianGe with laws and regulations we considered the followirtg.. the matteTS disLi15sed dinong the audit engageinent teain and any other relevant professionals regarding how and where fraud might occur in the financial statements and any potential indicatQTS of fraud; the nature of the industry and any laws and i'egulatiolls applicable to the company and the industry. tl)e conipany'5 se5nefit of the I'isk of fraud and other ii'i'egulai'ities., the con)pany's policies and PfDcedures in relation to.. how they identify and comply with all levant Illws and regiilations and whether they ale aware of any noi)-coinpliance' how they detect and respond to i'iskg of fi'aud and tlieir knowlcdgc of any actual, suspected or alleged fraud- and the eoi)trol environinent within the company and how thi% Initigatcs risks of fraud and instances of non-compliance with laws attd regLilations. As a result of these procedures, we consideved the oppoitunities and incentives that Inay exsst within the organisation for fraiid and identified ihe gyegtest potential for fiziid in relation to Inisappi"opriation of assets. In cominon with all audits under ISAS (UK). we are also requi¥ed to pei'forin specific pro¢ediii'es to respond to the risk of Inai)agement override. In response to the risk of Inaterial Inisstat¢inet]t tlll'OLigh iii'egularities and non-¢oit)pliance with laws and i'egul&tions, we designed procedures which included, but weir not liinited to.. ensurillg the engagement team had thc appropriate knowledge and expertise En order to be able to identify and recognise any instAnces of fraiid or llon-coinpliance with laws and regulations. we identified the laws and regulations applica171t to the coinpany through discussions ivith dire¢tors and Inanagement and froin our kiiowledge and expei'ience of the sector., and ensuring the audit was carried out with a level of prOfelon21 scepticism. In response to the risk of irregularities and non-cojnpliance with laws and regulations, we designed predureS which included, but weiE tiot limited to.. enquii'ing of Inanagem¢nt cotJc¢rn5 of actual and potential litigation and claiins,. agreeing the financial state]nent disclosuies io undei'lytiig 5UPPOI'ting docEiin¢nt8tion to assess ¢0inpliai)ce with relevant laws and regulations,. and reviewing correspondence with the Charity Coininission for Northem li'eland and any other relevant regulatory ix)di¢s To address the risk of fraud through inanagement bias aiid override of controls. Ive: perforin analytical procedures to ideniify any unusiial or unexpected relationships that inay indicate risks of material isstatement due to fraiid. test the appropriateiiess of journal enkn'ies and other adjushnenis; assess whether the judgeinent5 tnade in making a¢coiinting esiimates are indicative of a potential bias. and 12
Report of the Ind¢pend¢nt Auditoi's to the Trustees and Member5 of Holywood Steincr Seliool Limited evaluate thc business rationale of any significant tt'ansactions that are unusual or outside the normal course of business. We also cornmunicated relevant identified laws and regulations and potential fraud risks to all engagement team members and significant componet]t audit teams, and reTnained alert to any indications of fraud or noncoinpliance with laws and i'egulations throughout the audit. There aie inherent liinitations in our audit pix)cediires desci'ibed above. The Inore reinoved that laws and regulations are from financial transactions, the less likely it is that we would becoine aware of non-coinpliance. Auditing standards also limit the audit procedures IEquii'ed lo identify non-compliance witli laws and I'egulatjor15 to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. if aiiy. Material misstatements that arise diie to fraud can be harder to detect than those that arise from error a5 they Inay involve deliberate concealinent or collusion. A rther description of our responsibilities for the audit of the financial slateinents is located on the financial Reporting Council's website at www.frc.org.uklauditorsre5ponsibilities. This description forins parl of our R£poii of the Independent Auditors. Use of our report This report l5 Inade solely to the charitablc coinpany's members, a5 a body. in 3ccordance with Chaptei. 3 of Part 16 of the Coinpanies Act 2006. Oui. audit woi'k has been undertaket) 50 that we inight slate to tlie charitable company's Ineinbers those matters we aTe requiiEd to state to them in an auditors, report 3nd for no other pOSe. To the fullcst extent pemiitted by law, we do not accept or assume responsibility to anyone othei. than the chai'itable company and the charitable coinpany's InembeT5 as a body, for oui. aiidit work. for this Teptsrt, or for the opinions we have foimed. Conaill McGrady for and on behalf Chartered Accounta Statiitory Auditors Siiite 2B Cadogan House 322 Lisbiirn Road Belfast Co. Antrlln B'f9 6GH or Sta B.M¢ Auditor) dy&Co 28 Aug115t 2024 13
HOLYWOOD STEINEI R SCHOOL LIMITED Statenienl of Finaneial Activities Ilneorporating Ineome aiid Ei xpenditure Ac¢ouiit) roR THE VEI AR Ei liDED 31 AUGUST 2023 3118123 Total funds 3118122 Total funds UnrestrietedRestrieted (llnds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 8,771 8,771 2,605 ChAritable a¢tivilles Charitable Activitiey 628.240 10.696 638,936 460,689 Other trading activities Investment incoine 41.242 271 41,242 271 26,006 263 Toty41 678,524 10,696 689,220 489,563 F.XPF.NDITURE ON Charitablc aelivilics Charitable Activities Support Cosis 694,772 8,874 703,646 545,203 Total 696,153 8,874 705,027 545,203 NET INCOMEI(CIXPENDITUREI {17,629) 1,822 (15,807) (55.640) REI CONCILIATION OF fiUNDS l otal funds brought for%vard 125,625 250,167 375,792 431,432 TOTAL FUNDS CARRIED FORWARD 107,996 251,989 359,985 J75,792 The notes form part of these fanCIal statements 14
HOLVWOOD STEINER SCHOOL LIMITED B4l&nce Sheet 31 AUGUST 2023 3118123 3118122 Notes FIXED ASSETS Tangible assets Investments 463,132 477,285 466,220 481,752 CURRENT ASSETS DebtOl'S Cash at baThk ad in hand 16 38,748 146,507 24.754 126 040 185,255 150,794 CREI DITORS Aiiiotints falling due within one year {150J32) (107,556) NET CURRENT ASSETS TOTAL ASSEI TS LESS CURRENT LIABILITIES 501,143 524,990 CREDITORS Ainounts falling due after more than one year (59,000) (59,000) PENSION LIABILITY 22 {82,158) (90,198) NET ASSETS 359 985 375,792 FUNDS Unrestricted funds.. General fund DesignatEd funds 190,154 82,IS8) 215,823 90,198) 107,996 125,625 Resti"icted fiilld5'. Restricted fund 251.989 250 167 TOTAL FUNDS 3S9,985 375.792 The financial stateinent5 were appiDved by Ilie Board of Tiuslees and aiithoi'ised for issue on 28 Augiist 2024 and wcir signe by.. Mr Garret O'Fachtna- Triistee The notes form part of these financial stat¢inents 15
HOLYWOOD STEINER SCHOOL LIMITED Cash Fl0sY Stat¢ment FOR THE YEIAR ENDED 31 AUGUST 2023 3118n3 3118122 Notes Cash floivs from operating activitie5 Lash generated from operations 24 28,209) Net cash pi'ovided byl(used it]) operating 8Ctivitie9 28.2091 Cash flow5 fi'om investing 8Ctivitie5 Piirchase of tangible fixed a$5ets InteresÉ received (9,962) 271 (26.927) 263 Net cash used in investing activities 9.691} 26,664) Change in cash cash equivalents In the reporting period Cash and Cash ¢quivalents At the beginning of the reporting period 20.467 {54,8731 126,040 ISO,913 Casli aiid cash ¢quiv91ents at the end of the rcpoi'ting pcriod 146 5D7 126.040 The notes form part of these financial statements
HOLYWOOD STEINER SCHOOL LIMITED Not¢5 to the Fiiiancial Statements FOR THE YEAR ENDCID 31 AUGUST2023 ACCOUNTING POLICIES Basis of prepzring the financial slatefflents The financial statements ot the charitable company, which is a public benefit entity under FRS 102, have been pi'epared in accordance with the Charities SOIIP (FRS 102) 'Accounting and Reporting by Charities.. Stateinent of RecoMInended Practice Applicable to chai'ities preparing iheir a¢¢ounts in accordance with the Financial Reporting Standai'd applicable in the UK and Republic of Irelaiid {FRS 102) {effective l Januaiy 2019),, rinallcial Repoiting Stand2id 102 'The Financial Repoi'ting Standard applicable in the UK and Republic of Ireland, aTrd the Coinpanies Act 2006. The fiiiancial stateinents have been piypared undei. the historical cost convei)tion, with the exception of investments which are included at market value. The charity is incorporated in Northem Ireland. Ineome All incoine is i'ecognised in the Statement of Financial A¢tivitie5 once the charity ha5 entitlement to the funds, it is pi'obable that ihe incoine will be re¢¢ived and the ainoiint can be ineasured reliably. Income froin charitable activities is the amourtt derived from the Provision of goods and services stated aftei. discounis. Incon)e fi'om doii&tions or gi'gsnls is recognised when there 15 evidence of cntitleinent to the gift. receipt is pi'obablc and ils ainouiit can be measured I'eliably. ExpeDdrture Liabilitics are recogni5ed as expenditure a5 SOOTI &5 there Es a legal or constructive obligation cotninitting the charity to that expenditllTe, it is probable that a transfei. of econoinic benefits will be reqiiired in settleinent and the ainount of the obligatioii can be Ineasui'ed Irliably. ExpEndilii¥e is accounted for on an acci'iials basis and has been classified undei. headings that aggi'egate all cost ¥clated to the category. Where costs cannot be diiectly ath'ibuted to particular Iieadings they have been allocated to aCtvilIeS on a bBsis Consistent with the use of reS0r¢e8. Tangible fixed R5set5 Depreciation is providEd at the following ai)nual rates ID order to write off e8ch a55et over its estimated useftil Freehold prop¢rty Fixttir¢s and fittings Coimputer equipn3ent 20/0 on cosi l OTr/o on cost IOD/Tr on cos( Tangible fixed assets air iriitially Ineasured at C05t. Taxation rhe chayiiy is exempt froin corporation tax oll its charitable activiti¢s. Vund actountillg Ujirestricted funds call be used in accordance with the charitable objective5 Ilt the discretion of the tTUStees. Restricted thnds can only be used for pailicular restricted purposes within ihe objects olthe charity. Restrictions ari5¢ wheii specifLed by the donoi. or when funds are Taised for pai'ticiilar restricted piirposE5. Fuither explanation of the nathre and puiptsse of each fiind is included in the notes to the financial stateinents. 17 continued...
HOLYWOOD STEINER SCHOOL LIMITED Note5 to the Financial Statements . continued FOR THE YEIAR EIYDE¢D 31 AUGUST 2023 ACCOUNTING POLICIES - continucd Flnancial instrllments FindllLial assets and financial liabilities are iecognised when the charity becomes party to the contractyal provisions of tlie iiistruinent. Financial liabilities and equity instrum¢iits are classified a¢¢ording to th¢ sllbstante of the contractual aiTangemErils entered into. An eqiiity instrument is any contra¢t that evidences a re5idEial interest in the assets of tlie charity after deducting all ofils liabilitie5. The charity's policies for its majoi. classes of f5nancial assets and finan¢ial liabilitie5 are set out below. rilrtaneial assets Basic financial assets, inc141ding trade and othei. debtor5 and cash and bank balances are initially recognis¢d at transactioii price, unless the ai'rang¢inettt constitutes a financing transaction, where the transaction is Ineasui'ed at the present value of the fiitur¢ ieccipts discounted at a mai'ket rate of inteie5t for a similaT debt instriinient. Finaiicing transactions are those in which payment is deferred beyond noi'inal business terins or is financed at a rate of interest that is not a market Tate. Such assets are 511bseqEiently corried at amortised cost using the effective interest rate Inethod, less aiiy iiiipairinenÉ. Financipl liabillties Basic finaiicial liabilities, inclLiding trade and other creditors and loans are initially recognised at tiai)5action price, uiileis the ari'ai)gement constitutes a finatjcing transaction, wheie ihe debt insti'uin¢nt is measured at the present value of the futui'e payinentsdiscounted at a Inai'ket rate of intei'est fot. a Similar debt insti'ument. Financing transactions are those in which payin¢iit l5 defei'red beyond norinal biisiness terms or is financ¢d a( a rate of interest that is not a mai'ket rate. Debt instNments are subsequently caryied at amortjs¢d cost, Lising the effe¢tive interest rate method. Impairnienl of financial assets Financial assets Intlijed at cost and amortised cost are assessed at the end of each reporting period for objective evidence of iinpairjnent. If objective evidence of iiiipairment ss found. an impairjneni loss 15 recoonised in ttie proflt and loss accouiit. Foi. financial ass¢ts ineasui'ed at cost less iinpairmeiit, the unpaii'ineiit loss is n)easLired as the diffei'ence between the asset's cariying ainDunt and th¢ best estiina(e of the ainount tlie charity would receive for the assct if it were to be sold at the repoi'tiThg date. For financial assets measured at amortised cost, Ihe impainnent loss is measured as the difference between the asset's C£triying ainount and the present valiie of estiinat¢d cash flows discounted at the asset's oiiginal effective interest late. If the fiiiancEal asset has & variable interest rate, the discount l'ate foi. measuring any impairment loss is the current effective interest rate detei"Inined undei. the conti2ct. If thei'e i5 a decrease the impairni¢nt loss arising fi'om an event oCcU1ng after the impaimicnt was recognised, the illlpainnent is I'eversed, The reversal is such that the cui'irnt cairying ainoiint does not exceed what the canying aTt]ount would have been had the %inpairment noi previously been Yecognised. The impairmeTIt rcvcrsèl is i'ecognEsed in profit or loss. Derecognitlon of finantial assets and financial liabilitie5 18 continued...
HOLYWOOD STEINER SCHOOL LIMITED Notes to the Finallcial Statements- continued FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES- coillinued Finamcial in5trument5 Financial assets are deircognised ivhen la) tlic contt'actual l'ights to tlie cash flows from the asset expire or are settled, or (b} Substantially all the risks and IEwai'ds of the ownersliip of the asset 'e transferi.ed to anothei" party. or (c) despite having retained some significant risks and rewards of ownership, tontt'ol of the assei to an unrelated third paty withour iinposing additional YesiricEions. Financial liabiliiies are dei'ecognised when the liabiliry is exiingu%shed, that is when the contra¢tual obligation is discharged, cancelled or expires. Offseltiiig of fin#neial assets ajid fiiianciol liatTrilili¢5 riiiancial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set otT the rgrongi5cd amounts and thei'e is an intention to sett5e on a net basi5 or to realise the asset aud settle thelsability SiTniiltaneoiis1y. Peiision costs and ollier post-retiremellt benefits The chaj'itable company opei'ates a defined cont¥ibution peiision scheine. Contributions payable to the charitable coinpaiiy's pension scheine al'e chai'ged to the Statement of Financial Activities in the pei'iod to which they IElate. Going eoneern The financial stateiments havc been prepared on a going concern basis with no tnaterial unceitaiiities arising. The trustees believe tl)al the charity will contiiiue as & going concern. Appropriate planning has been Undert£¢ foi. the funding and pi'ovi92on of chai'itable servic¢s and £tnd tliere are no concei'ns regardEng the long-term funding foi. the charEty and its activities. DONATIONS AND LEGACIES 3118123 3118122 Donation5 and Gifts 8,771 2,605 OTHER TRADING AcfiviTIES 3J18n3 31ll3 Playgroup Incoine Giiest Student Choir Iiicoine Afterschool club income Parent and child gi'oup Room Hire Incoine GCSE Fee5 21,665 3048 17.100 7.436 33 850 587 11,754 130 1205 41,242 26,006 19 continued...
HOLYWOOD STEI INER SCHOOL LIMITED Iyotes to the Finxncial Stateinents- continued IOR THE YEAR ENDED 31 AUGUST 2023 INVESTMENT INCOME 3118123 3118122 Interest Receivable 271 263 INCOME FROM CHARITABLE ACTIVITIEI S 3118123 3118n2 Activity Charitable Activiiies Chai'itable Activiries Chai'itabl¢ Activities Parental Contributions Grants Other In¢oJ)ie 584,587 34,929 IY,420 452,518 6,729 638 936 460,689 Grants IEceived, intliided in the above, are as follow5.. 3118123 3118122 Ards and North Down DABRA 2,279 CHARITABLE ACTIVITIES COSTS Dii'ect Costs (see note 7) Suppoi't cos15 (see note 81 Totals Charitable A¢tiviti¢s Suppoj'l Colts 586,416 117,230 703,646 1,381 586 416 118611 705.027 20 continued...
HOLYWOOD STEINER SCHOOL LIMITED Not to the Finaiicial blalem¢nt5- Colltinued IOR THE YEAR Lf*lDLD 31 AUGUST 2023 DIRECT COSTS OF CHARITABLE ACTIVITIES 3118123 3118122 Staff costs Equipinent Rental Ediication Siipplies Steiner School Fellowship Exainination Expenses Staff Travel and Training Increase in Bad Debt Provision Siipply Teachers Gi?nt expenditui'e Dcpreciation Loss tsn sale of asseis 504,790 4,120 29,283 3,931 2,889 J,653 4,296 466 8,874 21,219 2,895 407,192 3,606 17,968 ,750 1,989 3,448 4,450 232 1,109 20,913 586,416 462,657 SUPPORT COSTS Information technology M&n9gement Fingnce Charitable Activities Support Costs fv1,150 32,746 15,334 64.150 32.746 15,334 Human Govei'nanee costs re50uree5 Totals Charitable Activities Siipport Costs s,000 117,230 1,381 1,381 1,381 5,000 118 611 NEI T INCOMEI(EXPENDITURE) Net incoind(exp¢nditure) is Stated after chai'gin(JF (crediting).. 3118123 3118122 Depiyciation - owned assets Deficit OM disposal of fixed a55et5 21,218 2,895 20,871 21 coniinued...
HOLYWOOD STE4 INCR SCHOOL LIMITEI D Notes to the FiiianeiAI Statemeii15- cnntinlled FOR THE YEI AR ENDE4D 31 AUGUSI. 2023 io. AUDITORS, REMUNCI RATION 3118123 3118122 Fees payable to the charity's auditor5 foi. the audit of the charity's financial stateinenis TRUSTE£4 S, REMUNERATION AND BEI NEI FITS Theie wei'e no Iru5tees' remuncraiion oi. othei. benefits for the year ended 31 Aiigust 2023 nor for the year ended 31 Aiigust 2022. Trustees expeiise5 Thei"e were no 31 August 2022. trustees, expenses paid for the year ended 31 Augu5t2023 nor for the yeai. ended 12. STAFF COSTS 3118123 3118n2 Wages and salaries Social secui'ity costs Other pension costs 461,6DS 29,980 373,996 22,643 10,553 504,790 407 192 The average inonthly niimb¢r of eiiiployees dui'tng the y£ai' was as follows.. 3118123 20 3118122 Teaching staff Non-t¢aching staff 28 24 No employee% received eloInents in excess of £60,000. 13. COMPARATIVIS FOR THE STATEMENT OF FINANCIAL ACTIVITIES Uni'estrictedRestricled funds fund Total funds 1Tr4COME AND ENDOWMENTS FROM Doi)ations and legaci¢s 2,605 2,605 Ch9ritable activities Charitable Activities 455,260 5,429 460,689 Other trading activities Ii)vesttn¢nt incoine 26,006 263 26,006 263 Total 484,134 5,429 489,563 22 continued...
HOLYWOOD STEINf4 R SCHOOL LIMITED Notes to the Finaii¢ial Statemen15- Colltinued FOR THE YEIAR ENDED 31 AUGUST 2023 13. cOAnATIvEs FOR THE STATEMENT OF FINANCIAL ACTIVITIES- Conllnued Unre5trictedR¢stricted funds fuiid Tot21 fuiids IXPENDITURE ON Charitable activitÈes Charitable ActivtieS 537.292 545.203 NCIT IIYCOME/(EXPENDITURE) Transf¢r5 between funds (53,158) (2.4112) 2.279) (55,640) N¢t movcmellt in funds (50,879) (4,7611 {55,640) RECONCILIATION OF FUNDS Total funds bi'ought forward 176.504 254,928 431,432 TOTAL FUNDS CARRIED fioRWARD 125,625 250,167 375 792 14. T ANGIBLE FIXED ASSETS Improvement5 to propei'ty Fixtures and rittiiigs Freehold property Computer equipinent Totals COST At I September 2022 Additi0115 Disposals 722,412 23,440 7,302 100,081 2.400 15,355 260 861,288 9,962 9,086) At 31 August 2023 722412 30,741 99,554 9,456 862,164 DEPRECIATION At I Septembei. 2022 Chai'ge for year Eliininated on dispo$81 312,092 14,448 293 615 64,559 4.657 1.463) 7,061 1,498 4,7281 384,005 21,218 At 31 August 2023 326.540 908 399 032 NET BOOK VALUE Ai 31 August ?023 395,872 31,801 5,625 463 132 At 31 Augiist 2022 410320 23,147 35,S22 8,294 477 283 23 ¢ontiniied...
HOLYWOOD STEINft R SCHOOL LIMITED Notes to the Financial Statoments- continucd FOR THE YEAR EINDEID 31 AUGUST 2023 rilXED ASSET INVESTMEI NTS Unlisted invLiStMent5 MARI<EIT VALUE At I September 2022 Movement in year 4,469 At 31 Augy5t 2023 3,088 NET BOOK VALUE At 31 August 2021 3,088 At 31 Augug12022 4,469 There wcre no investment a55ets outside the UK. 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONC YEAR 3118123 3J18122 Trade debtors Other debtors Prepayments 35,042 979 21,566 367 2.821 38,748 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YE4AR 3118123 3118122 Other loatLS (see note 19) Trade Creditors Social security and other taxes Other creditors Accruals and deferred income 5,165 19,923 6,859 108,236 5,165 11,423 10,887 73,898 6,183 150332 107,556 24 continued..
HOLYWOOD STEI INER SCHOOL LIMITCD Notes to the fiinancial Statement5- COI]tinued FOR THE YEAR ENDED 31 AUGUST 2023 18. CREDITORS: AMOUNTS FALLING DUI AwfER MORE THAN ONE YEAR 3118123 3118n2 Othey loans (see note 19) 59,000 59,000 19, LOANS An analysis of the matui'ity of IoEns is given below.. 3118123 3118122 Amounts falling due within oiie year on demand.. Other loans 5,165 Aiiiounts falling between one and two years.. Othei. loan5 - 1-2 year5 59,000 20. ANALYSIS OF NET ASSETS BETWEEI IY FVNDS 3118123 Total 3118122 Total funds UnreslrictedRe5tricted fullds fund Fixed assets Iiivestments Cui'rent a55ets Ciirrent liabilities Long tenn liabilities Pensio liab51ity 211,143 3,088 165,255 (150,332) (59,000) 82 158) 251,989 463,132 3.088 185,255 1150,3321 {59,0001 82,158) 477,283 4,469 150,794 (107,556) {59,000) 90,198) I07 996 251.989 359,985 375,792 21. MOVEMENT IN FUNDS Nel movenient in furids At 3118123 At 119122 Unr¢$trieted funds Gcncral fiind Designated funds 215,823 90,198) (25,669) 190,IS4 82,158) 125,625 (17,629) 107,996 RtriCted fund5 Restricted fvnd 250,167 1,822 251,989 TOTAL FUNDS 375,792 15 807) 359,985 25 ontinued...
HOLYWOOD STEI INER SCHOOL LIMITED Notes to tlie Fiiianeial St8temenls- continlled FOR THE YEAR IINDED 31 AUGUST 2023 21. MOVE4 MENT IN FUNDS- continued Net movemeiit in fyi)ds, included in the above are a5 follows- Ineoming resourees Resources expcnded Movement in funds UThr¢slricted funds General fvnd Designated funds 678,524 (704,193) 8,040 (25,669} 678,524 {696,153) (17,629) Restricted funds Restricted fund 10,696 (8,874} 1022 TOTAL FUNDS 689 220 705 027) 15,807) Coniparatives for movement fund5 Net movement in funds TrAnsfers bctween funds At 3118122 At 119ni Unrestt'icted funds Genei'&l fijnd Designated funds 281,381 (104 877) (67,837) 2,279 215.823 90.198) 176,504 (53,158) 2,279 125,625 Restricted funds Resti'icted fiind 254.928 (2,482) (2,279} 250,167 TOTAL FUIYDS 431432 55.640) 375,792 Compai?tive net mov¢ment lli fund5, Cluded in the above are as follows- Ineoming resoiiree5 Resources expended Movcmellt in funds Unresti'icted funds General fund Designated fiJThds 484.134 (551,971) 14,679 (67.837) 14,679 484,134 (537,292) (53,158) Restricted funds Ros(ricted fund 5,429 (7,951) (2,482) TOTAL FUNDS 4S9,563 545 203) 55,640) 26 contsnued.
HOLYWOOD STEINER SCHOOL LIMETED Notes to the Finaneigl Slatement5- continued FOR THE YEAR ENDF.D 31 AUGUST 2023 21. MOVEMENT IN FUNDS- continued A current year 12 months and prioi. year 12 moE]Ihs coinbined positlQll is as follows.. ¢1 movement in funds Transfers betwetn funds At 3118123 At 119121 Unrestricted funds Genei'al fiand Designatcd funds 281,381 104 877) (93.506) 2,279 190,154 82 158) 176,504 (70,787) 2,279 107,996 Restricted funds Resh'icted fund 254,928 1660) {2,279} 251.989 TOTAL FUNDS 431,432 71,4471 359985 A ¢LlI'i'ent year 12 Inonths and prior year 12 Inonths coinbined net Inovement in funds. included in the aix)ve are as follows.. Re5uurces expended Movernent in funds re50vrce5 Unrestriited funds General fund Designated funds 1,162,658 (1,256,164) 22.719 (93,506) 22,719 1,162,658 (1,233,445) (70,787) RtStricted funds Restricted fund 16,125 (16,785) (660) TOTAL FUNDS 1 178,783 (1250 230) 71447) 22. , MPLOYEE BENEFIT OBLIGATIONS A full actuarial valuation was last carrEed Dut at 29 Deceinbel 2021 and valued the pension liability at £134,000. An actuarial revie. was Cai'ried out as at 29 De¢einber 2023 and estiinated the School's pension liability at £86,000. At 31 August 2023 £82,158 is YecognEsed as designated funds in respect of this liabilsty The cost of providing benefits under defjned benefit plans is deterinilled sepaTately and is based on actuarial alculalions. The change in th¢ i)et defined benefit liability arising from) einployee service during the year is recognised a5 an einployee cosi. The cost of plan introductions, benefit changes. settlements altd cuiigtilinenls al'e recognisod as incurred. Payments to defined conli'%bution i'etil'einent benefit 5¢heines are charged as an expense as they fall due. 27 continued...
HOLYWOOD STEI INER SCHOOL LIMITII D Notes to the Fiiianeial StaleD]ents- coiitinued FOR THE YEAR ENDED 31 AUGUST 2023 23. RELATEI D PARTY DISCLOSURLS Theip were no related paty tt?nsactions for the year ended 31 August 2023. 24. RECONCILIATION OF NET EXPE4 NDITURE TO NCI T CASH FLOW FROM OPERATING ACTIVITIES 3118123 3A18122 Net trxpenditure for the reporting period (as pei. the Statement of Financial Aclii'ities) Adjustinents for: Depirciation charges L055 on disposal of fixed assets InteTest received (Gain) / Loss Lin Investinent Increase in debtors tncrease in ereditoi Difference between pension charge and cash contribiitions (15,807) (55,640) 21,219 2,895 (271) 1,380 (13,994} 42,776 20,871 (263) 2,081 {1,810) 14,012 7,460) Net eash provided byl{used in} operations 30,158 28,209) 25. ANALYSIS OF CHANGES IF4 NET FUNDS At 119122 Cash flow At 3118n3 Nel cash Cash at bank and iii hand 126,040 146 507 126,040 146,507 Debt Debts falling due within l year Debis falling due after l year (5,165) 59,000 (5,165) 64 165) Total 61,875 20,467 82,342 28
HOLYWOOD STEINER SCHOOL LIMITED D¢tailed Statement of Tr'Éll8ncial Activities OR'fHE YLAH EJNDED 31 AUGUST 2023 3118123 3118122 INCOME AND ENDOWMETrITS DonatiOll$ and legacies Doiiatioiis aiid QTifts 8,771 2,605 Other tradiiig activilies Playgroup Income Guest Student Choir Income Afterschool cliib irtcoine Pai"ent and child group Rooin Flirc Income OCSE Fees 21,665 3,848 17,100 7,436 33 850 587 11,754 130 1,265 2,580 41,242 26,006 Investment income Intei'est Receivable 271 263 Charitable aetlvitles Pai"ental Conti'ibutions Gi"ants Other Income 584,S87 34,929 19,420 452,518 6,729 1,442 638,936 460.689 Total incoming resources 689,220 489,563 IXPENDITURE CharitRble 9Ctivilre5 Staff Costs Social security Peiisioiis Eqiiipinent Rental Educatiot] Siipplies Steiner School Fellowship Exainination Expenses StafYTI'avel and Trainiug Inci'ease in Bad Debt Provision SLipply Teachers Grant expenditure Event expenses Carried forward 461,605 29,980 13,205 4,120 29,283 3,931 2,889 3,653 4,296 466 8,874 373,996 22,643 10,553 3.606 17,968 1.750 1.989 3.448 4.450 232 1.109 41 441,785 562J02 This page does not form part of the statutory financial stateFnents 29
HOL YWOOD STEINER SCHOOL LIMITED Detailed Statement of Finxncial Activities FOR THE YEAR CINDED 31 AUGUST 2023 3118ll3 3118122 Charitable actlvities ljroughi torward Depreciation and Impaiiinents Loss on sale of tangible fixed ass¢is 562,302 21,21Y 441,785 20,872 586.416 462,657 Support costs ManaEemertt Rates and water Insui'anee Light and heat Telephone and Internet Other Office Costs Advertising Computei. and Website Costs 694 17,441 23,972 5,241 5,531 7,654 3,617 607 13,858 20,324 3,997 4,541 2,919 3,090 64,ISO 49,336 Finanet Legal and Professional Fees Sun(Iries Bank charges 28,S77 2,837 13,735 1,594 1.170 32,746 16,499 liiformation ttehnology Repairs and maintenance 15,334 13,010 Huinan resource5 Moveinent on investments 1,381 2,081 Governance costs Aiiditoi's, i'emuneratio Accountancy fees 3,140 1,860 1,620 5,000 Total resources expended 705 027 545 203 Net expenditui'c 15807) 55,640) This page does not fonn part of th¢ statutory fiftaiitial stateinents 30