REGISTEREI D COMPANY NUMBER: N1012003 (Northern Ireland) REGISTERED CHARITY NUMBER: 103712 Report of the Trustees and Audited Finaneial Statements for the Year Ended 31 August 2024 for Holywood Steiner School Limlted M.B.McGrady & Co Charteird Accountants Statutory AuditOl5 Suite 2B CBdogan House 322 Lisburn Road Belfast Co. Antri BT9 6GH
Holywood Sttlner School Limited Contents of th¢ FillantlAI Stat¢mentS for thc Year Ended 31 August 2024 Page Referenee and Administrntlve Details Report of the Trustees Statement of Trustee5' Responsibilities Report of the Independent Audltors 10 to 13 Statement of Financlal Aetivitles 14 Balance Sheet 15 Cash Floiv Statement 16 Notes to the Financial Statements 17 to 29
Holywood Steiner School Limited Reference and Administrative Detail$ for the Year Ended 31 August 2024 TRUSTEES Ms Caroline Mary Ball- Filin Producer (resigned 2115ll024) Mr Garret O'Faohtna- Trade Union CooTdinator (appointed 211512024) Mr G¢rry Warwick- Accountant {resigned 211512024) Mrs Mary Roulston- Retired Tea¢her (resigned 211512024) Ms Jenny Holland - Company Director (appoinled 211512024) (Tesigned 301112025) Mr Michael Denny- Convnercial Manager (appointed 311112023) (resigned 301912024) Ms Ashling Gray- Solieitor {appointed 181112024) (resigned 301612024) Ms Dominique M¢garry- Manager (appointed 111312024) Mr Daen Moffett- M3Tketing Director (resigned 291512024) Mr Chris Preston - Company Director (resigned 211512024) Ms Aoife Cunningham - Youth worker (appointed 211512024) Mr Andrew Charles Gray (appointed 11412025) MT Trevor Willis (appointed 11412025) Ms Lauren SiEnpson- Veterinary Surgeon (appointed 2115r2024) REGISTERED OFFICE 34 Croft Road Hol>ryvood Co. Down BT18 OPR RECISTERED COMPANY IYUMBER NIO12003 (Northern Ireland) REGISTF.RKD CHARITY NUMBER 103712 AUDITORS M.B.McGrady & Co Chartered Accountants Statutory Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antiiin BT9 6GH BANKERS Bank of Ir¢land l Donegall Square South Belfast BTI 5LR
Holywood Steiner School Limited (Registered number: N1012003) Report of the Truslees for the Year Ended 31 August 2024 The trustees who are also directois of the charity for the purposes of the Companies Act 2006, present their report with the financial stalemenis of the charity for the year ended 31 August 2024. The trustees have adopted Ihc provisions of Accounting and Reporting by Charities.. Statem¢nt of Recoinmended Practice applicable to charities preparing their accounts in accordance wilh the Finartcial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeciive l January 2019). The Report of the Trustees incorporat¢5 the Strategic Report.
Holywood Steiner School Limited (Registered number: N1012003) Report of the Tru5tee5 for the Year Bnded 31 August 2024 OBJECTIVES AND ACTIVITIES Objectives and alms Introduction Founded in 1975, Holywood Steiner School (HSS) operates as a co-educational and independent sehool thal offers the Steiner Waldorf curriculum for students aged from 3 10 17 years old. Unlike Inainstreain education, the Waldorf Inodel provides the time and space for each Child to learn and grow at their own pace. allowing them Éo fully grasp a ¢ot)cept or achieve a skill when they are ready. The school strives to provide a rich, diverse and integrated education, where cooperation takes priority over competition. HSS is a Inember of Waldorf UK fornierly known as the Steiner Waldorf Schools Fellowship of the United Kingdom (UK) and Irelatjd. The Fellowship represents 22 schools and ¢o-ordinates Steiner curriculum research and developiment, suppoils teacher training programmes, and provides advisory and mentoring services to mejnber schools. The Fellowship 15 part of the international European Council for Steiner Waldorf Education (ECSWF,) comprising 26 national St¢in¢r Waldorf Associations, representing over 680 schools in Europe. Mission, Vision and Values HSS'S mission is to 'inspire studenls through the delivery of th¢ Steiner Waldorf Curriculwn and develop a strong ¢onn¢¢tion between children and their teachers" Its vision is to 'engage the head, the heart, and the hands, enthuse the child with curiosity and a sense of wonder for the world and inspire a love of learning that will last a lifetime" HSS, values are set out below.. Acceptance - we recognise our responsibility to nurture the child. We aim to prepare students for life in a ¢ulturally diverse society by developing tolerant, articulate, Inotivated and Inature individuals. Connection - a meaningful relationship 5 fostered between the child, leacher, and class. Parents are iiDJner5¢d into their ¢hild's school life and frequently involved within the school community. Love of learning - we encourage all childi'en, regardless of ability, to find the joy in learning. to beli¢Ye in th¢mselve5 and to be motivated to succeed in their chosen path in life. Independence our priority is to 5UPPQrt every ehild and provide them with f)rn) foundations so that they Can d¢velop int(> free thinking, morally responsible, and confident memb¢rs of so¢i¢ty. The Board of Trustees has followed the guidance issued by the Charity Commission in deciding what activities the charity shoiild undertake. The objective for the school during the year was to continue to pi'ovide a quality Steiner Waldorf education in the Early Years and Lowei. School and to provide a balanced and quality ¢duc8tion in the Upper School based on both Steiner Waldorf and National Ciirriculuins. The ongoing support of the College of f¢a¢hers' and their continuous work enstjres the essence of the Steiner Waldorf Curriouluim remains strong in the school. The objective of increasing th¢ nuinber of 5hLdents enrolled whilst maintain an environment conducive to delivering a quality Steinei. Waldorf education was cojitinued fix>m the year 2022123 As well as developing a fundraising plan to suppoi't the incojne fgr the school from sources othei. than school fees.
Holywood SteiRer School Limited (Regl$t¢red number: N1012003) Report of the Trustees for the Year Ended 31 August 2024 OBJECTIVES AND ACTJVITIES Slgnificant aetlvltles During this year, the school's enrollment WAS 152 students, which repirsents an overall incr¢as¢ from the previou5 period. This is disaggregated as follows.. Preschool (3-4 years old}- 12 (full capacity) Kindergarten (4 6 years old)- 9 (down from 17 in th¢ pr¢viou5 period) Lower School, classes I to 7 (6 . 14 year5 old)- 71 (up from 58 in the previous period) Upper School, classes 8 to 11 (13 - 17 y¢ars old) 60 (up from 51 in the previous period) The school is yet to r¢ach capacity and is actively promoting itself and seeking new students, not only to increase income to the school, but also to enhance the pedagogic environment ¢onduciYe to a Steiner Waldorf ediication. Walkthrough opportunities and a one-to-one wilh the Head Teacher egntinu¢ to be key in the promotion of the school and its offer. There were 34 walkthroughs during this financial year that resulted in 16 new students. In addition, group wa]kthrough mornings were scheduled and publicised acros5 Ihe community and on digital channels such as the school website, with considerable interest and attendan¢e noted. The traditional eommunity-facing events took place thi5 year with the re-inti'oduction of the Eastei. Fayre and the very success7 Chrishngs Trayre. Boih events helped raise vital funds for the school as well as PToviding an opportunity to raise the school's profile within the cominunity. During this reporting period, the school appointed the following new posts that C02ninenced in Augusi 2023: Kindergarten Assistant Upper School Art and Geography Tea¢heT Upper School Maths and Science Teach¢r (who replaced the pr¢vious teacher who left after Imany yea, service) Class One'feacher Class Six Teacli¢r Volunteers The school relies heavily on volunteer aetivity for a significant amount of work, particularly in areas such as.. Fundraising Public Relations (PR) and development Ground5 keeping and maintenanc¢ The Parents & Friends Association {PFA) continues to raise vital fund5 for the school e.g. coffee and craft morning5 for parents. STRATEC.IC REPORT Achievement and performance Charitable actlvities Key achieveinents duTiDg the year included.. Preschool received an oulstanding annual inspection report with no areas for improveinent highlighted by Social Services. The School's Professional Developmeni Framework was introduced and the niiinber of staff availing of Continuing Professional Developinent (CPD) increased from 14 to 18 during the period. Consequently, the annual budg¢t for Coiitinuing Professional Development (CPD) was increased by 15 /•. The 3-year School Development Plan (2022-2025) was introdiiced. The whool introduced a siiccessthl 5tt]dent council and exteimal coun5elling service. 21 out of 24 key priorities wcr¢ achieved, leading to an iTnproved provision and experience for pupils. For exainple, 88 % of pupils achieved 7 A* C GCSE glade5 including English and Matlis in 2023 (up 2 percentage points from the previous yeai.). These GCSE results continue to be well above the Northern Ireland average5.
Holywood Steiner Sehool Llmlted (Reglstered number: N1012003) Report of the Trustees for the Year Ended 31 August 2024 STRATEGIC REPORT Financial revieiv Finaneial positlon Th¢ TTU5te¢s report a deficit of £6,851 for the period, with income of £738,671 and expenditure of £745,522. When compared to the previous period.. Income increased by £49,451 (froin £689,220), whi¢h is largely du¢ to an in¢r¢8se in student fees.. Expenditure increased by £40,495 (from £705.027), which is due to increased staff costs and incr¢a5¢5 in running Costs. As of 315t August 2024, bank 2ceounts have a credit balance of £136,592. The greatest financial risks relate to the oveTall operation and sustainability of the school, along with the maintenance and repair of the physical buildings and its environs. Given that over 85¢10 of the incoine 15 derived from th¢ school fees, there is a significanl risk if student enrolinent decrease5 or reinains static in future years as the school will then risk operating in a deficit (which is unsustainable}. Indeed, this has b¢et] the case for several of the years preceding this period. With the proposed VAT introduction by the Labour govemment this poses further risk to the school with loss of pupil numbers due to the additional VAT wsl on school fees. The Board of TTU5tees r¢eognises that ihe continued success of the school (including its financial viability and sustainability) needs to be based on a stTat¢gy fo¢u5ed on encouraging student enrolment and student retention, coupled with an Annual review of fees to fully coyer operating costs. Th¢ Capacity for growth is also recognised as key to increasing salaries for teacher5. Thi5 needs to be carefully balanced with the strong desire to Continue delivering a quality Sreiner Waldorf education, one that fuifils the 5¢hool's stated mission, vision and values. An agyement with the Cainphill Cominunilies has been reached to start repaying an historic l(Yan, to the ainount of £64.125 dating to 2003, with the first payment of £14,165 to be mad¢ in the financial year 2024125, reducing the school's liabilities over the next five years. Additionally deposits for pupil place5 have been ring-feneed and sepai?ted from the oper8tit]g cash flow to protect fi]nds. Reserves PDIicy The charity had TeseTves of £353,134 at the year end. This is made up of £175,052 in gen¢ral unrestricted fvnds, (£73,907) of designated funds and £251,989 of restricted fund5. The designated funds relate to a historic defined benefit pension liability. The Board of Trustees seek5 to actively manage th¢ finances of the school to ensure that activities are sustainable for the benefit of all stakeholders. Following best practice guidance, the Board of Trustees ha5 developed a Reserves Policy 85 this is an important part of financial management and forward fancial planning. The Board of Trustees is defining strategies including designating a portion of in¢om¢ from f¢¢s, a calendar of p13nned fiindraising activities, and sustainabl¢ income from other activities and use of assets to generate sutTicient reserves that will service 3-6 months of operating cost5 should there be unexpected events (such as An annual operating deficil or unforeseen and anoit)alous expenditures) an(Vor shortfa115 in incoime (e.g. a reduction in ineoine associated with a decrease in 5tud¢nt numbers). Goiiig ¢oneern The trustees believe that the charity will continue as a going concern. The trustees and the Headteacher. supported by the staff, are in the process of delivering the school's Strategy 2025, with a view to Ilpdating this sh'ategy (up to 2027) irt the coining nionths. The continued succes5 of the school (including its financial viability and sustainability) will bc based on this strategy wliich will focu5 on ¢n¢ouraging sludent ettrolinent and stiident retention, coupled with an annual review of fees and alternative slreains of incoine and nd-raising activities to fijlly cover operating costs and contribute towards our reserv¢s.
Holywood Steiner School Limited (Registered numb¢r: N1012003) Report of Ilje Trustees for the Year Ended 31 August 2024 STRATEGIC REPORT Principal ri5k5 and uncertainties The Board of Trustees is responsible for the management of risks faced by the school. Detailed consideration5 of risk are delegated to the team5 established to deal with each of these areas. Risks are identsfjed and assessed, and contro15 es(abli5hed throughout the year. Key controls used by the charity include.. Formal 8g¢ndas and miniiles for all Board related activities. Detailed goals, objectives and tasks for all school teams. Coinprehensive strategic planning, budgeting and inanageinent accouniing. Formal Illen policies and procedur¢s. Vetting and child protection pi'o¢¢duTes as required by law for the protection of lh¢ students. Through th¢ risk Inanagement processes established for the school, the Board of Trustees is satisfied ihat ihe iaJOr risks identifjed are being adequately Initigaled where necessary. It 15 recognised that 5y5tems Can only pi'ovide reasonable but not absolute assurance that Inajor risks have been adequately managed. The Board of Trusiees continues to work closely with the Head Teacher to update ih¢ risk register. risk assessment processes and review areas of major risk within the School. Future plans The Board of Trustees and the Headteaeher. supported by the staff, are in the process of delivering the school's Strategy 2025. with a view to updating this Strategy (up to 2027) in the coming Inonths. The ajnbition Set out in that suztegy for the school remains io transforin the school fvoin a local, hidd¢n treasure, to a sch901 of regional and international standing, recognised for delivering an outstanding creative educational pi'ogram to each individual child, and instilling a love of learning in thein. The Board of Trustees recognises that collaboration and engagement with the wider school community, including teachers and parentslearers, is ci'ucial to.. Help identify strength5 and areas for iinproveinent. Infoiin the school's dcvelopinent plan., and Drive the scliool's Browth and eft5ure continual enhancement in edu¢ation. To siipporl a shdred cOlnitJI]ent to excellence, the Board of Trusteeg sought the views of teachers and parentslcarers on several aspects Irlating to the school. Emerging priorities froin thi5 exercise include.. Maintaining the substantial achieveinents made in pre-school and lower sehool, Mthile acknowledging there are cultural and educalional n¢eds that must be addressed in the upper school. The school's physical buildings aiid its environs require fvrther maintenance and repair (and capital invesbnent} to support educaiional ¢nhancement. Thc inlention of this collaboration and engagement extends to inaking Sure the wider School ¢orninunity is aware of what the school reqt]ires to increase its resei'ves fiind in line with the appropi'iate fmancial governan¢e of the school's charitable status and its business operational requireinents. The Board of Trustees recognises the external post pandeinic envirojunent withiti which the school opeTates remains uncertain, due to Inacro political, legislative, economic and social challenges. Therefore, Ihe continued success of the School (including its financial viabilty and sustainability) needs to be based on a Strate focused on encouraging student enrolinent and 5ttident retciition. coupled with an annual I'eview of fees lo fully cover operating costs, with a view to generating additional reserves in the next 3 year5. Our future plans contitjue to b¢ ainbitious, and it will be important to review progress on an ongoing basis. STRUCTURE, GOVERNANCE AND MANAGEMENT Covernlng do¢um¢nl Holywood Steiner School Liiniled (HSS) is a registered charity, which is controlled by its goyerniiig docuinent, a deed of trust, and constitutes a liinit¢d coinpany. limited by guarantee, as defined by the Coinpanies Act 2006.
Holywood Stelner School Limited (Registered number: N1012003) Report ofthe Trustees for the Ye8r Ended 31 August 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Reerultment and appointment of new trustees New meinbership for the Board of Trustees involyes recruitinent campaigns made via several channels, including the school website and advertising on voluntary and ¢harity 5¢Ctor websltes. New members are fornjally recruited and appointed, as per the Articles of Association. Trusteeship is rdtified at the Annual General Meetin New tllteeS receive the relevant documents including infoTination about the role of adininistration at a Steiner or Waldorf school. A ski115 assessment of the Board is carried out on an annual basis. More fonnal training is also Scheduled on an annual basis with NICVA lTrloithern lieland Council for Voluntary Action) and the Steiner Waldorf Fellowship. Declslon maklng The Board of 'frustees is r¢5ponsible for the effective govemance and overall legal and financial manageinent of the school. The full Board of Trustees meets once a month throughout the year, and it designated the following sub commirtees.. People & Culture Sub Committee - overseeing policies, TnIstrent and compliance. The work of smpleinenting policies is supported by both teaching and non-teaching teams. D¢v¢lopment Sub Committee- overseeing the development of the school (in terms of the physical assets, grounds and maintenance, the charitable and ¢ducation21 activities etc.). Finance Sub Committee- overseeing incom¢ and expendiiure and financial related matters. The sub-committees 41so meet monthly and present reconunendations to the full Board of TNstees. The Board of Ti'ustees appoints leinploys) all members of Staff, It delegates responsibility for the effective management of the school to the Head Teacher and the College of Teachers. The task of the Board of Trust¢e5 1$ to hold an awai'eness of. and make decisions about, what 15 in the best long-temi snteresis of the whole school. The Headteacher, supported by a Senior Leadership Team, is responsible for the effective leadership and managejnent of the school. All Trust¢e5 and the Head Teacher are also invited to participate in a strategic development workshop bi-annually. In addition, a strategy session with staff was held to gain their valuable inpiit on the school's Strategy 2025. with a view to updating this strategy {up to 2027) in the coining months. Escalation of issues that arise that cannot be re501v¢d following the documented processes can be escalated directly to the Board of Trustees. Key mBnagement remuneratlon The remunergtion for senior management is based on similar posts and corresponding pays¢al¢s funded by the Deparrinent of Education Nl. The IneTllbers of the Senior Leadership Teain (two Heads of School and a Learning Support Coordinator) are paid an additional £120 per Inonth, oth¢]Trvise referred to in the education sector as a salary point for Irsponsibility. A salary point paid for by the Department of Education Nl is over £200 per Inonth.
Holywood Stelner Sehool Limited (Registered number: NJ012003) Report ofthe Trustees for the Year Ended 31 August 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Wlder network The school has been a member of NICVA (Northern Ireland Council for Voluntary Action) since January 2008 and as a meinber 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 wa5 founded in 1975 to provide a St¢inerlWaldorf education in Northern Ireland. The Holywood SteEnei' School Limited is a company IiEnited by guaiantee ftsunded in 1977 ld is regisiered as a ¢haritable coinpany with the HM Revenue & CustoJn5 the Charity CollnISsion foT Northern Ireland. Its i'¢gisteT¢d office and main business address is 34 Croft Road, Holywo¢)d, Co Down, BT18 OPR. The structur¢ of the Charity during 2023124 ¢onsi5ted of the Board of Trustees who managed the business of the Association. The Headteacher managed the School with assista0¢¢ froin the administration team and Early Years, Lower School and UppEr School Teaching representatives. AUDITORS The auditors, M.B.McGrady & Co, will be proposed for re-appoiniment at the forthcoming Annual General Meeting. Report of the ir stees, incorporating a strategic report, approved by order of the board of trustees, as the coinpany diiectors. o . . %l-Lo .-&).k.f........... and signed on the board's behalf by.. Ms Lauren Simpson- Trustee
Holywood Stelner School Limlled Statement of Trustees, Responsibilitie5 for the Year Ended Jl August 2024 The tn]5tees (who are also the directors of Holv00d SÈeinei' School Limited for the purposes of company law) are responsible for preparing ihe Report of the Tn]stees and the finat)cial statements in accordance with applicable law aT)d United Kingdom Accounting Standards (United Kingdom Generally A¢ceptcd Accounting Practice). Cotnpany law requires the Irustees to pi'epare financial statement5 for each fiiiancial year which give a true and fair view of the state of affair5 of the charitabl¢ ¢oinpany and of the incoining resources and application of resource5, incliiding the income and expenditure. of the chai'itable coinpany for that period. In preparing those financial stateinents, the trustees ar¢ required to select suitable accounting policies and then apply them consist¢nlly' observe the method5 and principles in the Charity SORP; make jiidgements and estimates that arc reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable ¢omp&ny will continue in business. The trustees aTe responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the fJnan¢ial position of the charitable company and to enable thein to ensure that the financial stateinents comply with the Companies Act 2006. Tliey are also responsible for safeguai'ding the assets of the charitable company and henc¢ for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware- there is no relevant audit infomiation of which the charitable coinpany'5 auditors ar¢ unaware. and Ihe trustees have taken all steps that they ought to liave taken to Inake theinselves aware of any relevant audit inforffl&tion and to establish that the auditors are aware of that information.
Report of the Independent Auditors lo Ihe Tru5tee5 and Members of Holywood Steiner School Limited Opinion We have audited the fjnancial statements of Holywood Steiner Sehool Limited {Ihe 'chqritable company,) for the year ended 31 August 2024 which comprise th¢ Statement of Financial Activities, the Ejalance Sheet, the Cash Flow StatemeRt and notes to the fjnancial statements. including a summary of significant accounting policies. The fJnan¢ial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom A¢¢ounling Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion th¢ financial statements.. give a true and fair view of the state of the chk)ritable coinpany's affairs as at 31 August 2024 and of its ineorning resollr¢es and application of resources, including its income and expenditure, for the yeai. then ended: have been properly prepared in accordance with United Kingdoin Generally Accept¢d Accoun(ing Pra¢tice' and have been PTepared in atcordance with the requireinents of the Compani¢s Act 2006. B85is for oplnioT] We conducted our audit in accordance with lTrternational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities undeT those standard5 are further described in the AuditOl'S' Te5ponsibilities for the audit of the financial statement5 section of our report. We are independent of the charitable company in aecordance with the ethical requireinents that are relevant to our audit of the finaiicial stateinent5 In the UK. including the FRC'S Ethical Standard, and w¢ have fulfilled our other ethical responsibilities in actordllnce with these I'equirements. We believe that the audit evidence we hav¢ obtained is suffi¢ient and appropriate to provide a basis for our opinion. Concluslons rel*ting to going concern In auditing the financial statements. we have concluded that the trustee5' use of the going con¢¢rn basis of accounting in th¢ pirparation of the financial siatements is appropriate. Based on the work we have performed. we have not identified any Inaterial uncertainties relating to events or conditions that, individually or cgllectively. n)ay cast significant doubt on the charitable cojnpany's ability to continue as a going concern for a period of at least twelve Inonths from when the fjnancial statements are authorised for issue. Ollr responsibilities and the responsibilities of the trustees with itspe¢t to going concern are described in the relevant sections of this report. Other information The triistee5 are Tesponsible for the other inforination. The other inforination comprises the infonnation included in the Annual Report, other than the financial statement5 and our Report of th¢ Independent Auditors thereon. Our opinion on the financial siat¢ments does not coveT ihe other infotmation and. except to the extent otherwis¢ explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial stateiments, our responsibility 15 to read the other infonnation and, in doing so, consider whethei. Ihe other information is m8terially inconsistent with the financial state&nents or our knowledge obiained in the audit or otherwise appe2TS to be materially Inisstated. If we identify such Inaterial inctsnsistenLies or apparent Inaterial Inisstaieinents, we are required to determine whether thÉs gives rise to a Inaterial misstatement in the financial statements themselves. If, based on the work we haye perfortned, we conclud¢ that there 15 a material misstateinent of this other information, we are T¢quired to report that fact. We have nothing to report in this regai'd. Opinions on other mRtter5 prescribed by the Companies Act 2006 In our opinion, ba5¢d on the woi'k iindertaken in the COLirse of th¢ audit., the infortnation given in the Report of the Trustee5 foi. the financial y¢ar for which the financial statements are PTepared is consistent with the financial 5tatements,' and the Report of the Trustees has been PTepared in accordance with applicable legal requirements. 10
Report of the Independent Auditors to the Trustee5 and Members of Holywood Steiner School Limited Matters tsTJ whieh we are required to report by exeeption In the light of the knowledge and understanding Of the charitable coinpany and it5 environrnent obtained in the course of th¢ audit, we have not identified Inaterial misstat¢ments in the Report of the Tru5t¢es. We have nothing to r¢port in resp¢ct of th¢ following Inatters where the CoiMpanies Act 2006 requires u5 to report tg YOU if, in our opinion.. adeqtsai¢ accounting recoTds have not been kept or irturns adequate for our audit have not been received from branches not visited by us. or the financial staieinents are not in agreement with the atcounting records and returns.. or c¢rtain disc10511r¢s of tTllStees' r¢mun¢rotion sp¢cifi¢d by law are not made; or we have not received all the infonnation and explanations we require for our audit,. or the tnJst¢es were not entitled to take advantage of the small companies exeinption fvom the requireinent to prepare a Strategic Report or IH preparing the Report of the Trustee5. Responsibilities of tru5te¢5 As explained more fully in the Statement of Trustees. Responsibilities. the trustees (who are also the directors of the charitable coinpany ftsr the putposes of company law) are responsible for the preparation of the financial statements and for being satisfied that th¢y give a true and fair view, and for such internal control a5 the trustees determine is necessary to enable the preparation of financial slateinents that are free froiD Inaterial Inisstatement, whether due to fraud or error. In preparing the financial stateinents. the trustees ai¢ responsible for assessing tlie ¢hari(able company'5 ability to continue as a going concern. disclosing? as applicable, matters related to going concei'n and using the going concern basis of accountijig unless the trusiees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Report of th¢ Independent Auditors to the Truste¢5 and Members of Holywood Steiner School Llmlted Our responsibilities for the audit of the financlal st#tement5 Our objective5 aTe to obtain reasonable assllrance about whether the financial statements a$ a whole are free from material misstatement, whether due to fyaud o¥ error, and to issue a Report of the Independent Auditors thai includes our opinion. Reasonable assurance is a high level of assuTance, but is not a guaiantee that an audii conducted in acc(Trrdance with ISAS (UK} will always detect a material inisstatement when it exists. Misstateiments can arise froin fraud or eiyor and aTe considered material if, individually or in the aggregate, they could reasonably be expected to inflLEence the economic decisions of users taken on the basis of these financial statements. The extent to which our proc¢dures are capable of detecting irregularities, in¢luding fraud is detailed below.. The extent to ivhich our oudit Was capable of deteetlng Irregularitie5, including fraud Irregularitie5, including fraud, are inslante5 of non-coinpli3nce with laws and regulaiions. We design procedures in line with our responsibilities. outlined above, to det¢¢t Inatei'ial Inisstatements in respect of iiirgularities, including fraud. In assessing and detecting irregularitl¢5 such as fraud and non-coinpliance with laws and regulaiions we considered the following- the matters discussed ainong the audit engageinent teain and any other relevant professionals regarding how and where fraud might o¢¢ur in the financial stateinents and any potential indicators of fraud; (h¢ nature of the industry and any laws alld regulations applicable to the company and the industry; the coinpany's tswn assessment of the risk of fraud and other iNegularitie5' the ¢ornpany'5 policies and procedures in relaiion to.. how they identify and comply with all relevant laws and regulations and whether they are aware (Trf any non-compliance. how they detect and respond to risks of fraud and their knowledge of any actual, suspected or alleged fraud. and the control environinent within the company and how this mitigate5 risks of fraud and instances of non-coinpliance with laws and regulations. As a result of these pi'ocedures, w¢ considered the oppoilunitle5 and inc¢ntiv¢s that In&y exist within the organisation for fiaud and identified tlie greatest potential for fraud in relation to Inisappropriation of assets. In eonvnon with all audits under ISAS (UK), we are also required to perfoi'jn Specific Procedures to respond to the risk of management override. In response to th¢ risk of material misstatement I1ollgh iir¢gularities and non-compliance with laws and regulations. we d¢signed procedures which included, but wer¢ not liimited to- ensuring the engageinent teain had the appropriate knowledge alld expertise in order to be able lo identify and IEcognise any instances of fraud or non-complTan¢e with laws and regulations; we ideniified ihe law5 and regulations applicable to the company through dis¢ussion5 Wlth directots and manageinent and from our knowledge aiid experience of the sector; and ensuring the audit was carried oui wilh a level of professional scepticism. In response to the TlSk of irregularities and non-complianee with laws and regulations, we designed procedures which included, but were not lii11ited to.. enquiring of managcjnent concerns of actual and potential litigation and Claims., agreeing the financial statement disc105ures to und¢rlying sUPPOrting docuinentation to 8ss¢ss coinpliance with relevant laws and regulations; and reviewing corre5poJideiice with the Charity Coinjiiission for NoTthei'n Ireland and any other relevant regulatory bodies To address the I'isk of fraud through inanagement bias and override of controls, we.. pei'fgrrn analytical procedures to identify any unusual or unexpected relationships that may indieat¢ risks of Inaterial misstateinent due to fraud; tesi ihe appropriateness of journal entries and other adjustments. a55e5s whether the judgeinents Inade in Inaking Aecounting estimates are indicative of a potential bia5. and evaluate the business rationale of any 5i¥nificant trans&Ctions that are unusual or Outside the normal Course of business. 12
Report of the Independent Auditor5 to the Trustees and Members of Holywood Steiner Sehool Limited We also communicated relevant identified laws and regulations and w)tential fraud risks to all engagement team members and significant component audit teams, and remained alert to any indications of fraud OF noncompliance with laws and r¢gulatioDs throughout the audit. There are inherent limitations in our audit procedures described above. The Inore removed that laws and r¢gulations are from financial transactions, the less likely it 15 that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other manage1¢t and the irtsp¢¢lion of regulatory and legal correspondenc¢, if any. Material Inisstateinents that arise due to fraud can be harder to detect than those that arise from error a5 th¢y may inYolv¢ deliberate con¢ealm¢nt or ¢ollusion. A further description of our responsibilities for the audit of the financial stateinents is located on the Financial Reporting Council's website at www.frc.org.uklauditQlsre5ponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is Inade solely to the charitsble company's meinbers, as a body, in a¢eordan¢e with ChapteT 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors, report and for no other piirpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the eharitable eompany and the charitable company's rnembers as a body, for our audit work, for this report, or for the opinions we have fonned. Conaill McGrady FCA tahitory Auditor} for and on behalf of M.B.McGrady & Co Chartered Accountants Statutory AuditOTS Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antrim BT9 6GH Date.. 13
Holyivood Steiner School Limlted Slatemenl of Financial Activitles (Incorporating an Income Ei xpendilure Account) for the Year Ended 31 August 2024 3118ll4 Tol41 funds 3118123 Total funds Unrestricted fund5 Restriettd fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 21,420 21,420 8,771 Charitable activities Charitable Activities 654,600 Is,000 669,600 638,936 Other trading a¢tivities Investment incoine 46,897 754 46,897 7S4 41,242 271 Total 723,67] 15,000 738,671 689,220 EXPENDITURE ON Charitable activities Charitable Activities Support Costs 744,769 753 744,769 753 703,646 Total 745,522 745,522 705,027 NET INCOMEI{EXPENDITURE) Transfers between funds 121,851) 15,000 15,000 (15,000) (6,851) {15,807) Nel movement in funds (6,851) (6,851) (15,807) RECONCILIATION OF FUNDS Toial fllnds biDught forward 107,996 251,989 359,985 375,792 TOTAL FUNDS CARRIED FORWARD 101,14S 251,989 353,134 359,985 The notes forin pari of these financial stateinents 14
Holywood Stefiner Sehool Llmltcd (Registered number: N11112003) BalAnee Sheet 31 August 2024 3118n4 3118ll3 Note5 FIXED ASSETS Tangible Sets Investiments 14 15 478,796 2,335 463.132 3,088 481,131 466.220 CURRENT ASSETS Debtors Cash at bank 16 18,137 136,592 38,748 146,507 IS4,729 185255 CREDITORS Amounts falling due within one year 17 (158,819) (150,332) NET CURRCI NT ASSETS (4,090) 34,923 TOTAL ASSETS LESS CURRENr LIABILITIES 477,041 501,143 CREDITORS Amounts falling due after more than one year (50,000} (59,000) PENSION LIABILITY 22 (73,907) (82,158) NET ASSKTS 353,134 359,985 FUNDS Ut)restricted funds- Gener&1 fiind Desigjnated funds 175,OS2 {73,907) 190,154 (82,158) 101,145 107,996 Restricted funds.. Restricted fund 251,989 251,989 TOTAL FUNDS 353,134 359,985 The financial statements were approved by the Board of Triistees and authorised for issue and were signed on sts behalf by.. on Ms tli1'en Simpson- Trustee The note5 form part of these financièl statements 15
Holywood Steiner School LiJRited Cash Floiy Statement for the Year Ended 31 August 2024 3118124 3118123 Note5 Cash tIow5 from operatfing aetivlties Cash generated froin operations 24 30,407 30,158 Net cash provided by operating activities 30,407 30.158 Cash nows from Investing activitles Purchase of tsngible fixed asset5 Interesl received (41,076) 754 (9,962) 271 Net cash used in investing activities (40,322) (9,691} Change in cash and eash equivalents in the reptsrting period Cash and eash eqllivalent5 al the begÈnning of the reporting ptrlod (9,915) 20,467 146,507 126,040 Cash ¢a5h equivalents at the end of the reportSng period 136,592 146,507 The notes forin part of these financial stateinents 16
Holywood Steiner School Llmlted Note5 to the FinanclAI Statementg for the Year Ended 31 August 2024 ACCOUNTINC POLICIES B85is of preparlng the flnancial statements The financial stateinents of the chai'itable Company, which is a public benefit ¢ntity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charit1¢5'. Stateinent of Recominended Practice applicable to charities preparing thetr accounts in atcoi'dance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) leffeotive l 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 stateinents have been prepar¢d under Ihe historical cost convention, with the exception of investmenis WhCh are included at Inarket value. The charity is incorporated Kn Northern Ireland. Income All incoine is recognised in the Statement of Financial Activities once the charity has entitlelnent to the fijnds, it is probable that the income will be received and the ainount can be measured reliably. Ineome from charitable activities 15 th¢ amount derived from the provision of goods and service5 Stated after dioUnt5. Incom¢ fvom donauons or grant5 15 re¢ognis¢d when there is evidence of entitlement to th¢ gift, receipt l5 probable and its amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the eharity 10 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 h¢adings that aggregate all cost related to the category. Where cosrs cannot be dii'ectly attributed to parliculai. headings they have been allocated to activities on a basis consistent with the use of r¢s(Trurces. Tangible fjxed a55ets Depreciation is provid¢d at the following annual rates in ord¢r to write off each asset over its estimated use1 Freehold property Fixtures and fittings Computer ¢quipment 2Q/o on cost IOQ/o on cosi IOf/*y on cost Tanuble fixed assets are initially mea5ur¢d at oost. Tax8tion Th¢ charity is exempt froin corporation tsx on its charitable aetivities. Fund accounting Unrestricted funds ¢an be used in accordance with the charitable obje¢tlVeS at the distretion of the trustees. Re5tsicted funds can only be used for particular restricted purposes within the objects of the chgrity. Restrictions arise when sp¢cifi¢d by the donoi. or when funds air raised for particular restricted purposes. Furthei. explanation of the naiure and purpose of each fund is included in the notes to the fEnancial $tat¢inents. Fillancial instruments Financial assets and fJThancial liabilities are recognised when the charity becoines party to the contractual provisions of the in5trum¢nt. 17 continiied...
Holywood Steiner SchoDI Limited Notes lo the Financial Statements- eoDlinued for th¢ Year Ended 3] August 2024 ACCOUNTING POLICIES- contlnued FinanciAI instrument$ Financial liabilities and eqiiity instruments are classified aecording to the substance of the contrdctual orrangements entered into. An equity instrument is any contract that evid¢nces a residual int¢re5t in the assets of the charity after dedu¢ting all of its liabilitie5. The charity's policies foi. its major elasses of fjnancial assets and financial liabilities are set out below. Financial 8$sels Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the Tangejllent constitutes a financing transaction, where the transaction ig measuiEd at the Present value of the future receipts discount¢d at a Inarket rate of interest for a siihilar debt insirument. rinancing ti'an5actioiis are those in which payment is deferred beyond nomial business terms or is financed at a rate of interest that Is not a market rdte. Such asseis ar¢ subsequently earried at amortised cost using the effective interest rate method, les$ any impairinenl. Financial liabilities Basic financial liabilities, including trade and other creditors and loans are initially recogni5¢d at transaciion price. unless the airdngeinent constiiiiles a financing transaction, where the debt instrujnent is measured at the present value of the tU1'e payjnentsdiscounled at a market rate of interest for a similar debt instrument. Finallcing transactions are those in which payment is deferred beyond nonnal business term5 or is financed at a rate of in¢erest that is not a InaTket rate. Debt in5tTlllnents are siibsequ¢ntly cajyied at amortj5¢d cost, using ihe effective interest rate method. Impairment of financixl assets Financial asset5 Ineasur¢d at cost and amortised c05t are asscssed at the end of each reporting pei'iod for objective evidence of iinpairment. If obje¢¢ive evidence of impainnent is found, an iinpairinent10s9 15 Tecognised in the profit and loss account. For financial assets Ineasured at eost less impaimient. the iimpainllent loss is measured as the difference between the asset'5 carrying amount and the best estimaie of th¢ amount the charity would receive for the asset if it were to be sold at the reporting date. For financial assets measured at omortised cost, the impai17nent loss is Inea5ured a5 the difference b¢tween the asset's carrying amount and the present value of estijnated tash flow5 discounted at the as5¢t's original effective interesi rate. If the financial Set has a variable interest rate, the discount rate foi In¢asuring any impairn]ent Ioss is the CUlTent effective interest rate deterinined under the cotitra¢t. If there is a decrease in the impairment 105s arising froin an everjl occurring after the impairment was re¢ognised, the iinpairinent is reversed, The reversal is such that the current carrying ainount does not exceed what the aTrying ainount would have been had the impairinent not previously be¢n recognised. The iinpairment revei581 is recognised in PTofit oi. loss. Der¢cognltlon of finaThcial 855ets and finaneial liabilities Financial as5et5 are deTecognised when (a) the contraciual rights to the cash flows fivm the asset expire oi. are settled, or {b} substantially all Ihe risks and rewards of the ownei'ship of the asset are transferred to another paty, oi. {cl despiie having Tetained soine significant risks and rewards of ownership, control of the asset to an unrelated third party without iinposing additional restriciions. Financial liabilities air derecogFnised when the liability is extingiiished, that is when the conti'actual obligation is dischai'ged, cancelled or expires. eontinued...
Holywood Steiner School Llmlted Notes to the FinAneial Slatem¢nts- eontlnued for the Year Ended 31 August 2024 ACCOUNTING POLICIES- continued Financial in51ruments Offsettiiig of financial 8Sset5 ¥nd Ilnancial liabilitie5 Financial assets and liabilities are offset and the net amount Teported in the balance sheet when there is an enforceable l'ight to set off the recongised amount5 ond there is an intention to settle on a net basis or io realise the asset and settle the liability sijniiltaneously. PensioD costs #nd other post-retÈrement benefit5 The charitable company operates a defin¢d contribution pension scheme. Contributions payable to the charitable ompanls pension scheme are charged to the Stat¢Jnent Of Financial Activities in the period to which ihey relate. Don8ted goods Donated as5et5 are initially recognis¢d at their fair value at the date of donation. Where an external valuation is not available, Inanagcmenl will Inake a reasonable estimate based on Inarket inforination or other relevant sources. Any costs directly attribuiable to bringing the asset to its intended use will also be capitalised. Donated assets are depre¢iated over their estimated useful lives using ihe saine policies a5 purchasEd assets. Going concern Th¢ financial statements have been prepared on a going eoncern basis with no material uncertainties arising. The trustees believe that the charity will continue as a going ¢on¢ern. Appropriate planning has been undertaken for the fiinding and PTQVi5iOn of charitable services and and there no Concerns regarding the long-term funding for the ¢h8rity and its activilies. DONATIONS AND LEGACIES 3118124 3118123 Donations and Gifts 21,420 8,771 OTHER TRADINC ACTIVJTIES 3118124 3118123 Playgroup In¢oine Guest Student Afterschool club iD¢ome Parent and child group Roo1 Hire Incoine GCSE Fees 35,950 384 5,404 21,665 3,848 11,754 130 1,265 2,580 2,120 3,039 46,897 41,242 19 continued...
Holyjvood Steiner Sehool Limited Notes to the Financial StAternents- eotjtinued ror the Year Ended 31 August 2024 INVESTMENT INCOME 3118ll4 3118123 Interest Receivable 754 271 IiYCOME FROM CHARITABLE ACTIVITIES 3118124 3118123 Activity ChaTltable Activities Charitable A¢tiYities Charitable Activiti¢s Parental C(TrntributiOJLS Gi'ants Other Incoine 633,675 35,846 79 584,587 34.929 19,420 669,600 638,936 Grants received, included in the above, ar¢ as follows.. 3118124 3J18123 DAERA 20,846 24.233 CHARITABLE ACTIVITIES COSTS Direct Costs (see ote 7} Support Costs (see Dole 8) Totals Charitable Activities Support Costs 620,255 124,514 753 744,769 753 620,255 125,267 745,522 DIRECT COSTS OF CHARITABLE AcfiviTIES 3118124 3118123 Staff cost5 Equipinenl Rental Educatioii Supplies Steiner School Fellowship Exatnination Expenses Staff Trav¢1 and Training Increase in Bad Debt Provision Supply Teachers Grant expenditllT¢ Depreciation Loss on sale of assets 560,592 4,284 12,389 4,897 4,420 1,468 6,794 504,790 4.120 29,283 3,931 2.889 3,653 4,296 466 8,874 21,219 2,895 25,411 620,255 586,416 20 conlinlled...
Holywood Steiner Sehool Limited Notes lo the FiDaDcial St8tements- continued for the YeAr Ended 31 August 2024 SUPPORT COSTS Infoymation technology MAnagement Finance Charitable Activities Support Costs 70,339 26,945 20,195 70,339 26,94S 20,195 Human Governanee eosls r¢souree5 Totals Charitable Activities Support Costs 7,035 124,514 753 753 753 7,035 125,267 NET INCOMEI{EXPENDITURE) Net incoind{exp¢nditure) is stated after ¢harging(crediting): 3]ll4 3118123 Depreciation - owned asseis Deficit on di5Ptssal of fixed assets 25,412 21,218 2,895 io, AUDITORS, REMUNERATION 3118124 3118123 Fees payable to the charity's auditors for the audit of the chai'ity's financial statements 5,035 3,140 TRUSTEES, REMUNERATION AND BENEFITS There were no tru5tees' remuneration or other benefits for the year ¢nd¢d 31 August 2024 nor for the year ended 31 August 2023. Trustees, expen5e5 There were 31 August 2023. trustees, expenses paid for the year ended 31 August 2024 nor for the year ended continued...
Holyivood Steiner School Lirniled Notes to the Financial Statements- ¢ontinued for the Year Ended 31 August 2024 12. STAFF COSTS 3118124 3118ll3 Wages and salarie5 Social security cost5 Other pension costs 509,235 36J39 15,018 461,605 29,980 13,205 S60,592 504,790 Th¢ aveiage Inonthly number of employees diiring the year was a% follows.. 3118124 21 3118123 20 Teaching staff Non-teaching staff 27 28 No employees received ¢molumenis in ¢xce55 of £60,000. Key manageinent personnel include all persons that have authority and respoi)sEbility for planning, directing and controlling the activities of the charity. The total consideiation paid to key management P¢Tsonnel. including esnployers nation81 insurance contt'ibutions, for services provided to the ¢harity was £124,505. 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslri¢ted funds Rcstrleted fund Total funds INCOME AND ENDOWMENTS FROM Donation5 and legacies 8,771 8,771 Charitable acliyilies Charitable Activities 628,240 10,696 638,936 Other trading activities Invesiiiient income 41,242 271 41,242 271 TotÈl 678,524 10,696 689,220 EXPENDITURE ON Charitable activities Charitable Activitie5 Support Costs 694,772 8,874 703,646 1,381 Total 696,153 8,874 70S,027 NET INCOMEI(EXPENDITURE) (17,629> 1,822 (15,807) RECONCILIATION OF FUNDS Totsl funds brought foiivgrd 125,625 250,167 375,792 22 continued...
Holywood StelTher Sehool Llmited Notes to the FinanelÈl Statements- continued for the Year Ended 31 Augu512024 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITICIS- continued Unrestricted Restricted funds fund Total funds TOTAL FUNDS CARRIED FORWARD 107,996 251,989 359,985 14. TANGIBLE FIXED ASSETS Improvements to property Freehold property Plant and machinery COST At I September 2023 Additions 722,412 30,742 28,050 7,800 Ai 31 August 2024 722,412 58,792 7,800 DEPRECIATION At I SepteInber 2023 Charge for year 326,540 14.448 908 1,176 780 At 31 August 2024 340,988 2,084 780 NET BOOK VALUE At 31 August 2024 381,424 56.708 7,020 At 31 August 2023 395,872 29,834 Flxtures And ritting5 Computer equipment Totals COST At I Sepleinb¢r 2023 Additions 99,554 877 9,456 4,349 862,164 41,076 At 31 AUgst 2024 100,431 13,805 903,240 DEPRECIATION At I Septeinber 2023 Charge for year 67,753 4,746 3,831 4,262 399,032 25,412 At 31 August 2024 72,499 8,093 424,444 NET BOOK VALUE At J l August 2024 27,932 5,712 478,796 At 31 Auguyt 2023 31,801 5,625 463,132 23 continued...
Holyiyood Steiner School Lirnited Noles to the Finaneial Statements- ¢ontinued for the Year Ended 31 August 2024 14. TANGIBLE FIXED ASSETS- continued DllTing the year, Holywood Steiner School Limited received a donatEon of tangible fJx¢d assets with a total fair value of £7,800. These asseis have been capisalised in the financial statement5 in accordane¢ with the schcx)I's accounting policy on donated assets. The valuation of these assets was based on a combination of both external valuations and inanagement estimates. Depr¢¢iation been Charged on these assets in a¢coi'dance with th¢ school's fixed assets policy. FIXED ASSET INVESTMENTS 15. Unlisled Inve5tment$ MARKET VALUE At I September 2023 Moveineni in year 3,088 (753) At 31 Augiisi 2024 2,335 NET BOOK VALUE At 31 August 2Q24 2J3S At 31 August 2023 3,088 There were no investment assets outside the UK. DEB TORS: AMOUNTS FALLING DUE WITHIN ONE YEAR J118124 3118123 Trade debtors Other dtbtors Provision for Doubtful Debts Prepayinents 15.021 6,388 (7.094) 3,822 35,042 979 2,727 18,137 38,748 24 continued..
Holywood Steiner S¢hool Llmlted Notes lo the FIanCIal Statements- eontlnued for the Year Ended 31 August 2024 17. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 3118n4 3118123 Other loans (see note 19) Trade creditors Social security and other taxes Other Creditois Accruals and deferred incom¢ 14,16S 21,032 7,260 104,416 11,946 5,165 19,923 6,859 108,236 10.149 158,819 150,332 18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 3118124 3118123 other loans (see note 19) so,000 59,000 19. LOANS An analysis of the Inaturity of loans 1$ given below.. 3118124 3118123 Amounts falling due within one year on demand.. Oth¢r loans 14,165 5,165 Ainoiints fallillg between one and two years.. Othei. loans . 1-2 yeaiE 50,000 59,000 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS 3118124 Tot21 fund5 3118n3 Total funds Unrestrlcted funds Re$trieted fund Fixed assets Inve5tinents Current assets Current liabiliti¢s Long tern) liabilities Pension liability 226,807 2,335 154,729 (IS8,819} (50,000) (73,907) 251,989 478,796 2,335 154,729 1158,819) (50,000) (73,9U7) 463,132 3,088 185,255 (150,332) {59,000) (82,158) 101,145 251,989 353,134 359,985 25 continued...
Holywood Steiner School Lirnited Notes to the Finanelal St&tements- eontlnued ror the Year Ended 31 August 2024 21. MOVEMENT IN FUNDS Net Tran5f¢r5 between funds movement in fundg At 3118ll4 At ]ll3 Unrestricted fund5 General fund Designated funds 198,406 (90,410) (38,354) 16,503 15,000 175,OS2 (73,907) 107,996 (21,851) 15,00 101,145 Re5trieted funds Restricted fund 251,989 15,000 (15,000) 2SI,989 TOTAL FUNDS 359,985 (6051) 353,134 Net Inovetnent funds, included in th¢ above are as follows.. Incoming resource5 Resource$ expended Movement in funds Unrestrieled funds General fund Designated funds 723,671 (762,025) 16,503 (38,354} 16,503 723,671 (745,522) (21,851) Restricted funds Restricted fund 15,000 Is,000 TOTAL FUNDS 738,671 (745,522) (6,851) Comparatives for rnovernent in funds Net movement in funds At 3118123 At 119n2 Unrestrieted funds Gen¢Tal fund Designated funds 215,823 (90,198) {25,669) 8,040 190,154 {82,158) 125,625 (17,629) 107,996 Restricted fiinds Resiricred fiind 250,167 1,822 251.989 TOTAL FUNDS 375,792 (15,807) 359,985 26 continued...
Holywood Steiner School Limited Notes to the Finan¢ial Stal¢m¢nts- Continued for the Year Ended 31 August 2024 21. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the abov¢ are 8$ follows.. Incon]ing resources Resources expended Movement In funds UDrestri¢ted funds General fund Designyted funds 678,524 (704,193} 8,040 125,669) 8,040 678,524 (696,153) {17.629) Reslricled funds Restricted fund 10.696 (8,874) 1,822 TOTAL FUNDS 689,220 (705,027) 115,807) A ¢urrent y¢ar 12 inonth5 and prior year 12 months combined position is as follows.. Iyet movement In funds Transfers between fuftds At 3118n4 At 119n2 UnreslrTeted funds Genaal fund Designat¢d fvnd5 215,823 190,198) (64.023) 24,543 15,000 166,800 (65,655) 125.625 (39,480) 15,000 101,145 Restricted funds Restricted fund 250,167 16,822 (15,0001 251,989 TOTAL FUNDS 375,792 (22,658) 353,134 A current year 12 months and prior year 12 months combined net Inovement in funds, included in the above a as follows.. Incoming resourees Resources expended Movement in funds Unrestricted funds General fund Designated funds 1,402,195 (1,466,218) 24,543 164,023) 24,543 1,402,195 {1,441,675) {39,480) Restricted funds Restricted fund 25,696 (8,874} 16.822 TOTAL FUNDS 1,427,891 (1,450,549) (22,658) 27 continiied.
Holywood Steiner Sehool Limlted Notes to the Financial Statements- continued for the Year Ended 31 August 2024 22. EMPLOYEE BEJYEFIT OBLIGATIONS A full actuarial valuation was last carried out at 29 Deceniber 2021 and valued the pension liability at £134,000. An a¢tuai'ial review was carried out as at 29 December 2023 and ¢5tiinated the School's pension liability at £86,000. At 31 August 2024 £73,907 15 recognised as designated funds in respect of this liability The ¢05t of providing benefits under defined benefit plans is detell]ned separately and is based on actuarial calculations. The ehange in the net defined benefit liability arising from employee service durinB the year is recDgni5ed as an employee cost. The c95t of plan introductions, benefit changes, Settlements and curtaihnents are Tecognised as incuiTed. Payments to defined contriblltÈon retirement benefit Schemes are charged as an expense as they fall due. RELATED PARTY DISCLOSURES There w¢r¢ no related party transactions for the year ended 31 August 2024. 24. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 3118n4 3118123 Net expenditure for the reporting period (as per the Statement of Financial AetivitÉes) Adjustment5 for: Depreciation ¢har&F¢5 L055 on disposal of fixed assets Interesi Irceived (Gain) I Los5 on Investment Dectease/{increase) in debtors (Decrease)lincrease in creditors Difference b¢een pension charge and cash contributions (6,851) (15,8071 25,411 21,219 2,895 {271) 1,380 {13,994) 42,776 (8,040) (754) 753 20,611 (511) (8,252) Net cash provided by operation5 30,407 30,158 25. ANALYSIS OF CHANCES IN NET FUNDS At 119123 Cash flow At 3118124 Net cash Cash at bank and in hand 146,507 {9,915) 136.592 146,507 (9,915) 136,592 Debl Debis falling due within l year Debts falling due after l yeai. (5,165) (59,000) (9,000) 9,000 (14,165) (so,ooD) (64,165) (64,165) 28 continued..
Holywood Steiner School Limited No1¢5 to the Financial Sfaternents- continued for the Year Ended 31 August 2024 25. ANALYSIS OF CHANGES IN NET fUNDS- continued Total 82J42 (9,915) 72,427 29