REGISTERED COMPANY NUMBER: N1012003 (Northern Ireland) REGISTERED CHARITY NUMBER: 103712 Report of the Trustees and Audi¢¢d Fiiiancial Statements for the Year nded 31 Augusl 2023 for HOLYWOOD STEINER SCHOOL LIMITED M.B.McGrady & Co Chartered Accoiinlants Statutory Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co. Antriin BT9 6GH
HOLYWOOD STEINER SCHOOL LIMITED Contents of the Fiiian¢ial Statements FOR THE YEAR ENDED JI AUGUST 2023 Page Report of the Trustees Statement of Truste¢5' Rcsponsibilities Report of the Independent Auditors 10 to 13 Stat¢m¢nt of Financial Aetivities 14 Balance Slieet 15 Cash Floiv Statement 16 Notes to the FinanciHI StHtements 17 to 28 Detailed Statement of Financial Activities 29 to 30
HOL YWOOD STEINER SCHOOL LIMITED Report of the Ti'ustees FOR THE YEAR ENDED 31 AUGusf 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their repoit with the financial stat¢inent5 of Ihe ¢harity for the year ¢nded 31 August 2023. The trustee5 hav¢ adopted the provisions of Accounting and R¢porting by Chartties.. Statement of Recommended Practice applicable to charities pi'epai-ing theii. accounts in accoi'dance with the Financial Reporting Standard applicable in the UK and Republic of li'eland (FRS 102) (effective l Januaiy 2019). The Repoi't of the Ti'tistees incorporates the Strategic Report.
HOLYWOOD STEI INER SCHOOL LIMITED Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023 OBJECTIVES AND ACTIVITIES Objectives and alms Introduction Foiinded in 1975, Holywood Stein¢r School (HSS) operates as a co-educational and independent school that offers the Steiner Waldorf curi'iculum foi. students aged from 3 to 17 years old. Unlike iainStreaM education, the Waldorf Inodel provides the time and space for each child lo leai-n and grow ai theii. own pace, allowing thcin to ]lY grasp a concept or achieve a skill when Ihey are ready. The school sti'ives to provide a i'tch, diverse and integi'ated education, where cooperation takes priority over competition. HSS is a inember of the Steiner Waldorf Schools Fellowship of the United Kingdoin (UK) and Ireland. Tlie Fellowsl)ip represeiits 31 schools and co-ordinates Steiner currieulum research and development, supports tea¢h¢r training pi'ogi'ainines, and provides advisory and mentoring services to ineinber schools. The Fellowship is parl of the intei'national Eui'opean Council for Steiner Waldorf Education (ECSWE) coinprising 26 natioiial Steinei. Waldorf Associatioiis, i'epresenting over 680 schools in Europe. Mission, Vision and Values HSS'S niission is to 'inspire students througli the delivery of the Steiner Waldorf Curriculliin and develop a strong connection between childreii and their teachers" Its vision is to "engage the head, the heart, and the haiids, enihuse the cliild with curiosity and a sense of wonder for the woi'ld and inspii'e a love of leaming that will l¢lSt a lifetime" HSS, values are Set out below: Acceptance - we reco8nise oiir i'esponsibility to nLlI'lure the child. We aim to prepare sdentS for life in a culturally diverse society by developing tolerant, articulate, Jnotivated and mature individuals. Connectioii a Ineaningful relationship is fostered between the child, teacher, and class. Parents are iininersed into tlieir child's school life and frequently involved within tlie school coininuniry. Love of leNrning - we cncourage all childi'en, regardless of ability. to find the joy in learning, to bclieve in theinselv¢s and to be rnolivated to suc¢¢ed in their chosen path in life. Independei)ce - oiir pi'ioi'ity is to Support every child and provide them with firm foundations so Iliat they can develop into free thinkintr inoi'ally responsibl¢. and confident Ineinbers of society. The Board of Trustees has followed the guidance issued by the Charity Coinii)ission in decidtng what activities the chai'ity shoiild underlake. The objective for the school during the year was to continue lo provide a quality Steinei. Waldorf edLication li) tlie Early Yciirs and Lower School and to provide a balanced and quality ediication iii the Upper School based on both Steinei. Waldorf and National Curriculum5. The ongoing support of Ihe Colleoe of Teachers, and their Continuous work ensures the essence of the Steiner Waldorf Curriculum remains slrong in the school. An additional objective was to further develop the school's strategic plan and to continue to increase the nuinber of students enrolled while inaintaining an environinent conducive to delivering a quality Steiner Waldorf educalion.
HOLYWOOD STEINER SCHOOL LIMITED R¢port of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023 OBJECTIVES AND ACTIVITIES Significant activities During this year, the school's enrollnient was 152 studenls, which represents an overall increase froin ihe pi'evious period. This is disaggregated as follows.. Preschool (3-4 years old) - 12 (full capacity) Kindei'garten (4 - 6 year5 old) - 9 (down from 17 in Ihe previous period) Lower School, Classes I to 7 (6 - 14 years old) - 71 (lip from 58 in the previous period) Upper School, classes 8 to I l (13 - 17 years old) - 60 (up froin 51 in ihe prevlous period) The school is yet to reach capacity and is actively promoting itself and seeking new students, not oJ)ly to increase income lo the school, but also to enhance the pedagogic environinent conducive to a Steiner Waldorf education, Walkthi'ough opportunities and a one-tO•one with the Head Teacher continue to be key in the proinotion of the school and its offei.. Thei'e were 34 walktliroughs during this financial year that resulted in 16 new swdenls. In addition* group walkthrough morning5 were scheduled and publicised across the cominunity and on digital channels siich as the school website, with considci'able interest and attendance noted. The Iraditional coinmunity-facing event5 took place ihis year with tlie re-introduction of the Easter fayie and the very successful Christmas Fayi'e. Both events helped raise vital ndS for ihe school as well as pi'oviding an opportunity to raise the s¢hool's pi'ofile within the community. During this reporting period, Ihe school appointed the following new posts that coiiiinenced in August 2023.. Kindergarteii Assistant Upper School Arl and Geography Teacher Upper Scliool Maths and Science Teacher (who replaced ihe previous teacher who left aftei. Inaiiy years, servicc) Class One Teacher Class Six Teachei. Volunteers The school relies heavily on volunteer activity for a significaiit ainount of work, particularly in areas siich as.. Fundraising Public Relations (PR) and developinent Grounds keepin(r and maintenance The Parents & Frieiids Association (PFA) continues to raise vital funds for ih¢ school e.g. coffee and craft inornings foi. pai'eiits.
HOLYWOOD STEINER SCHOOL LIMITED Report of tlie Trustees FOR THE YEAR F,NDED 31 AUGUST 2023 STRATLG IC RIPORT Achievement and perform2nce Charitable activities Key achieveinenls diiring the year included: Preschool received an outstanding annual inspection report with no ai'eas for iinprovement highlighted by Social Sei'vices. The School's Pi'ofessional Development Framework was introduced and the nuinber of staff availing of Continuing Professional Developinent (CPD) increased froin 14 to 18 during the period. Consequently, tlie anijual budget for Continuing Pi'ofessional Development (CPD) was increased by 150/0. The 3-year School Development Plan (2022-2025) was introdu¢¢d. The school inti'odliced a successfiil student council and external counselling service. 21 out of 24 key prioi'itie5 were achieved, leading to an iniproved provision and experience for pupils. For example, 88I/Fo of pupils achieved 7 A* C GCSE grades including English and Maths in 2023 (up 2 percenl8ge points froin the pj'evious year). These GCSE results continue to be well above the Norihem Ireland averages. Financi&l review Fiiiaiicial position The Trustees i'eport a deficit of £15,807 for the period. with incoine of £689,220 and expenditure of £705,027. When coinpared to the previous period: Incoine inci'eased by £199,657 (froin £489,563), which is largely due to an increase in stiident enrolinenl (froin 127 to l 52). Expenditiii'e inci'eased by £159,824 (from £545,203). which is due to increased slaff costs following re¢riiitsn¢nt of oiie additional teachei. and foiii, additional non-teaching staff. As of 3 1st August 2023, bank ac¢oiinls have a ¢redil balance of £146,507. The gi'eatest financial risks relate to the overall operatlOD and sustainability of the school, along with the Inaintenance and repair of the physical buildings and its environs. Givcn that 850/0 + of the income is derived fi'om the school fees, tl)eit is a significant risk if sNdent enrolinent decreases or irinains static in futui'e year5 as the school will then risk opei'ating in a deficit (which ffis unsustainable). Indeed, this has beeii the case for several of Ilie yeal's pirceding this pei'iod. The Boai'd of Trustees recognises that the continued success of Ihe school (including Its fiiiancial viability and sustainability) need5 to be based on a 51ralegy fociised on encouraging student enrolment and student i-elention, coupled with an aiinual review of fee5 to fully cover operating costs. The capacity for 'Owth is also i'ecognised as key lo increasing salai-ies for teachers. This need5 to be carefully balanced with the stt'ong desire lo continue delivei'ing a qiiality steiner Waldorf edu¢alion, one that fulfils the school's stated inission, vision and value5. Reserves poli¢y The chai'ity had reserves of £359,985 at the year end. Thi5 is inade up of £190,154 in general unrests'icted funds, (£82,158) of designated funds and £251.989 of restricted funds. The desionated funds relate to a histori¢ defined benefit pension liability. The Boai'd of Tnt5tee5 seeks to actively manage the fmances of the school to ensure that activities are siistainabl¢ foi. the b¢nefit of all stakeholders. Following best practice guidance, the Board of Trustees has developed a Reserves Policy as this is an important pajt of financial inanagement and forward financial planning. The Board of Trustees is defining strategies to generate suffici¢nt reserves that will service 3-6 months of operating costs should there be uiiexpecled events (siich as an annual op¢rating defLCit or unforeseen and anomalous expenditures) andloi. shortfalls in income (e.g. a reduction in income associated with a decrease in student numbers).
HOLYWOOD STEINER SCHOOL LIMITED Report of the Trustees FOR THE YEI AR ENDED 31 AUGUST 2023 STRATEGIC REPORT Financial revieiy G(bing coiicern lThe ti'ustees believe that the charity will continue as a going concern. The trustees and the Headteacher, 5UPPOrted 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 months. The continued success of the school (iiicluding its financial viability and suslainability) will be based on this strategy which will focus on encouraging student enrolment and student retentiot), coupled wilh an annual T¢view of fees and alternative fund-rdising activities to fully cover operating costs and contribute towards our reserves. Priiicipal risks and uncertainties The Boai'd of Trustees is i'esponsible for the manageinent of risks faced by the school. D¢tailed ¢onsideralions of risk are delegated to the teams established to deal with each of ihese areas. Risks are idencified and assessed, and controls established thi'oughoul the year. Key conlrols used by the Charity include: Formal agendas and minutes for all Board related activities, Detailed goals, objectives and tasks for all school teams. Compi'ehensive strategic planning, budgeting and management accounting. Foi'inal wi-itten policies and procedures. Vetting and child protection pro¢edui'es as requir¢d by law for the protectioii of ihe students. Through the i'isk manageinenl processes establi8hcd for the school, the Board of Ti'ustees is satisfied that the inajor risks identified ai'¢ being adeqliately Initigated whei'e necessary, It is recognised that systeins can only provide reasonable but not absolute assui'ance that inajor risks have been adequately managed. The Board of Trustees continiies to woi'k closely with the Head Teacher to update the risk register, risk assessment processes and i'eview areas of Inajor risk ivithin Ihe school.
HOLYWOOD STII IINER SCHOOL LIMITED Report of the Tyustees FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT Future plans The Board of Tr115tees and the Headleacher, 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 coining rnonths, Th¢ ainbition set out in that stratcgy foi. the school i'einains to ti'ansfoiin the school froim a local, hidden trcasurc, to a school of regional and international statidii)E, I'ecognised foi. deliverints an outstanding creative educational prograin to each individual child, and instilling a love of learning in tliein. The Boai'd of Tnistees recogi)ises that collaboration and engageinenl with the wider school coininunity, including teachers and parentslcarers, is ci'ucial to: Help identify strengths and ai'eas fDr improvement- Infoi-m the school's developinent plan- ai)d Drive the school's growth and ensure Conlinual enhancein¢nt in education. To support a shai'ed corninitment to excellence, Ilie Board of Trustees sought the views of teachers and parentslcarers on sevei'al aspects I'elating to the school. Einerging priorities froin this exercise include: Maintaining the siibstantial achievement5 Inade in pre-school and lower School, while acknowledging Ihei'e are cultiiral and educational needs that iiiust be addressed in the upper school. The school's physical buildings and its environ5 reqiiire further maintenance and repair (and capital inve5tinent) to SUPPOI't educational enhanceiThent. The inteiition of this collaboration and engageii)ent extends lo making sure the wider school coinrnuniiy is awai'e of what tlie school requires to increase ils r¢serv¢s fund in line willi the appropriate financial governance of the school's chai'ilable status and its business operdtional requirelents. The Boaiyl of Trustees recognises the extei'nal post pandeniic environrnent within which the school opei'ates reinains uncci'lain, due to niaci'o political, legislative, economic and social challenges. Thei'efore, the continued success of the school (including its financial viability and siistainability) needs to be based on a strategy fociised on eiicouraging Student enrolinent and student retention, coupled wilh an annual review of fees to fully cover operating cos15, with a view to generating addilional reserves in the next 3 years. Oiir fiitui'e plans coiitiniie to be ambitious, and it will be iinportaiit to review progress on an ongoing basis. STRUCTURE, GOVERNANCE AND MANAGEMENT Coveyniiig doeumeiit Holywood Steiiier School Limited (HSS) is 8 registered charity. whicli is controlled by ils goverfting dociiment, a deed of trLisI. and conslitiiles a limited coinpany, liinited by guarantee. a5 defined by the Coinpanies Acl 2006. Recruitment and appointinent of new trustees New Ineii)bership for the Board of Tiiislees involves recruitm¢nt campaigns niade via several channels, including the school wcbsile and advertising on voluntary and charity s¢¢tor websiles. N¢iY inembei's are formally I'eci'uited and appointed, as per the Articles of Association. Trusteeship is ratified al the Annual General Meeting. New trustees receive the relevant documents including information about the role of adininistration at a Steiner or Waldorf school. A skills assessiment of the Boai'd is carried out on an annual basis. More fomial tt'aining is also scheduled on an annual basis with NICV A (Northern Ireland Council for Voluntary Action) and the Steinei. Waldorf Fellowship.
HOLYWOOD STEINER SCHOOL LIMITED Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Decision making The Board of Trustees is responsible for the effective governance and overall legal and financial management of the school. The full Board of TSteeS tneet5 once a month throughout the year, and it has designated the following sub coinmittees- People & Culture Sub Committee - overseeing policies. re¢ruitment and coinpliance. The work of iinplernenting policies is supported by both teaching and non-leaching teams. Development Sub Committee - overseeing Ihe developinent of the school (in tem]s of the physical assets. grounds and Inaintenance, the charitable and educational activities etc.). Finanee Sub Com mittee- overseeing incoine and expenditure and financial related matters. The sub-cominittees also meet monthly and present recoinmendations to the full Board of Trustees. The Boai'd of Ti'uste¢s appoints (einploys) all meiiibers of staff. li delegates responsibility for the effective Inanageinent of the school to the Head Teacher and the College of Teachers. The task of the Board of Trustees is to hold an awai'eness of, and Inake decisions about. what is in the best long-terni inlerest5 of ihe whole school. The Headteacher, siippoited by a Senior Leadership Team, is responsible for the effective leadership and management of the scliool. All Ti-ustees and the Head Teacher are also invited lo participate in a strategic development workshop bi-anniially. In addition. a sti'alegy sessioI) with Staff was held lo gain their valuable input on the school'5 Strategy 2025, with a view to Iipdating this Sti'ate y (up lo 2027) in the coming rnonihs. Escalation of issues Ihat arise that cannot be re501ved following the docuiiiented processes cali be escalated directly to th¢ Boai'd of Trust¢es. Key management remuneration The ieiniineration foi. s¢nioi' managcinent is based on siinilar posts aiid con'esponding payscales funded by the Deparlii)ent of Education Nl. The Ineiiibers of Ilie Senior Leadership Teain (two Heads of School and a l.eai'ning Suppoit Coordinator) are paid an addiiional £120 per Inonlh. otherwise refei'red to in the edLication sector as a salary point foi. responsibility. A salary point paid for by the Department of Education Nl is over £200 per month. Wider netivork Tl)e school has been a ineinber of NICVA (Northern Ireland Council for Voluntaiy Action) since Januai'y 2008 and as a meinber it can avail of advice and services. The school is a inember of the Steiner Waldorf Schools Fellowship which provides advice, training and a link lo other UK and Irish Steiner schools. The Holywood Steiner School was founded in 1975 to provide & Steinerlwaldorf education in Northern Ireland. The Holywood Steiner School Limited is a coinpany limited by guarantee founded in 1977 and is registered as a charitable Company with the HM Reveniie & Custoins and the Charity Coininission for Northern Ireland. It5 registered office and Inaiii business address is 34 Croft Road. Holywood. Co Down. BTI 8 OPR. The structiire of the Charity during 2022123 consisted of the Board of Trustees who Inanaged the bLisiness of the Association. The Headteacher man1< ged the School with assisiance from the adininistration team and Early Years, Lower School aiid Upper School Teaching representatives.. REFERF.NCE AND ADMINISTRATIVE DETAILS Registered Company nuniber NIO12003 (Noi'ihem li'¢land)
HOLYWOOD STEINER SCHOOL LIMtTED Report of the Trustees FOR THE YEI AR ENDED 31 AUGUST 2023 Registered Charity number 103712 Registered office 34 Croft Road 14olywood Co. Down BT18 OPR Trustees Ms Eslhei. Haller Clarke - Dii'ector {resigned 2315r2023) Ms Caroline Mary Ball - Filim Producer (resigned 211512024) Dr Lisa Siinpson {appointed 211512024) Mr Garret O'Fachtna (appointed 211512024) Mr Paul McTernan - Town Planner (resigned 231512023) Mr Gerry Wai'wick- Accounlant (i'esigned 211512023) Mi. Gareth Dalz¢ll - Cotnpany Dii'ector (resigned 2315r2023) Mi's Mary Roulston - Relii'ed Teacher (rcsigned 2 11512024) Ms Jenny Holland (appointed 211512024) Mr Michael Denny (appointed 311112023) Ms A5hliiig Cyray (appointed 1811 n024) Ms Doininique Mcgari'y (appointed 1113r2024) Mi. Darren Moffett- Mai'k¢ling Director (appointed 291512023) (resigned 291512024) Mr Chris Preston - Coinpany Direclor (appointed 291512023) (resigned 2115r2024) Ms Aoife Ciinninghain (appointed 211512024) Ms Stephanie Jones - Secr¢l8iy (resigned 2315ll023) Auditors M.B.McGrady & Co Cliai-lei'ed Accoiintants Statutory Auditors Suite 2B Cadogan House 322 Lisburn Road Belfast Co, Antrim BT9 6GH Bankers Bank of Ireland l Donegall Square South Belfast BTI 5LR AUDITORS The aiidÈtoi's, M.B.McGrady & Co. will be proposed for re-appointtnent at the forthcoming Annual General Meeting. Report of the trustees, incorporating a 5trdtetFic report. approved by order of the board of Érustees, as the coinpany clors, on 28 Aiigust 2024 and signed on the board's b¢half by: Gaiitt O'F htna-T Iste
HOLYWOOD STEINER SCHOOL LIMITED Statement of Trustees, Responsibilities FOR THE YEAR ENDEI D 31 AUGiiST 2023 The trustees (who are also the direclors of Holywood Steiner School Limited for the purposes of company law) are responsible for pi'eparing the Report of the Trustees and the financial stateinenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Geiierally Accepted Accounting Practice). Coimpany law i'equires the trustees to prepare financial stateinents for each fiiiancial year which give a tt'ue and fair view of the state of affairs of the charitable con)pany and of Ihe incoining iesoui'ces and application of resource5, Èncluding the incoine and expenditure, of Ihe charitable company for ihat period, In prepai'ing those financial statements. the trustees are reqliired to select suitable accounting polici¢s and then apply them consistently. observe the methods and principles in the Charity SORP. Inak¢ judg¢inents and estimates Ihat are reasonable and prudent- prepai'e the financial slaleinenls on the going concern basis Unless it is inappropriate to pitsume that the charitable coinpany will continue in business. The Ii'ustees are i'esponsible for keeping proper accoiinting records which disclose with reasonable accui'acy al any tiine the financial position of the chai'itable company and to enable Ihein to ensure Ihat the financial staleinents coinply with the Companies Act 2006. They are also responsible for safeguai'ding the assels of the charilable coinpany and hence for takiiig reasonable sieps for the pi'evention and deteciion of fraud and oilier irregiilarlties. In so fai. as the ti'ustees are aware: there is no Irlevant audit information of which ihe charitable company's auditors are unaware; and tlie li'ustees have taken all steps that Ihey ought to have laken lo make themselves aware of any relevant aiidit infoi'inalion and io establish that the aiidilors are awaro of Ihat information.
Repoi't of the Independent Auditors lo the Trustees aiid Menibers or Holyivood Steiner School Limited Opinion We have audited the financial stateinenls of Holywood Steiner School Liinited (the 'charitable coinpany,) loi. the year ended 31 August2023 which comprise the Siatemenl of Financial Activities, the Balance Sheet. the Cash Flow Slateinent and notes lo the financial stateinents, including a suiiiinaiy of significant accounting policies. The financial reporting fi'amework that has been applied in their preparation is applicable law arnd United Ktngdom Accounting Standai'ds (UnÈted Kinttdom Generally Accepted Accoiinting Practice). In oui. opinion the fEnancial statements: give a true and fair view of the state of the charilable coinpany's affairs as al J l August 2023 and of its incoining resources and application of resources, including ils incoliie and expenditure, for the year then ended,. have been properly prepared in accordance with Uniied Kingdoin Generally Accepted Accounting Pi'actice. and Iiave been prepared in accordance with the requireinenls of Ihe Companie5 Act 2006. Basis for opinion We conducted our audit in accordance with liiternational Standards oil Auditing (UK) (ISAS (IJK)) aiid applicable law. Our i'esponsibilities under those standards are further described in the Auditors, respoiisibilities foi. the audit of the financial statements s¢¢tion of our itporl. We are independent of the cl)aritable company in accoi'dance with the ethical requii'einents that are I'elevant to our audit of the fiiiancial slateinents iii the UK, incliiding the FRC'S Ethical Standard, and we have fi]Ifilled our other ethical responsibilities in accoi'dance with these requirements. We beli¢v¢ that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for oui. opinion. Conclusions rclating to going coiicern In auditing the financial slatemenls. we have concluded that the truste¢s' use of the going concern basis of accouiiting in the pi'epai'ation of the financial statements is appi'opi'idte. Based on the wot'k we have pei'formed, ive have not identified any Inaterial uncertaintics relatii)g to events or conditions that, individually or ¢olleclively, Inay cast significant doubt on the charitable coinpany's ability to continlie as a going concei'n foi. a period of at least twelve months froi)I when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tnisle¢s with respect to going concern are desci'ibed in the relevant sections of this i'epoit. Othei. inforniatioii The Ii'uslees al'e responsible for the othei. inforinatioii. The otliei. inforniation coiiiprises Ihc infonnation iiicliided in the Annual Report, other than the financial slaleii)ents and our Report of the Independcnt Auditoi's thereon. Oui. opinion on the financial stateinenls does not cover the other inforination and, except to the extent otherwise explicitly stated in our report, we do not express any fonn of assui'ance conclusion thereon. In connection with our audit of the financial statements, our responsibiltty 15 to read the other infoi'ination and, in doing so. consider whether thc other infonnalion is Inaterially inconsistent with the financial stateinents oi. oily knowledge obtained in the aiidit 01- oth¢rwise appears to be materially iiiisslated. If we identify such Inaterial inconsistencies or apparent Inatei'ial misstatements, we are required lo deterniine whelhei. tliis giv¢5 rise to a material inisstateinent in the fiiiancial statetnents themselves. If, based on the work we have pei'forined. we conclude that there is a materia5 mis5tateinent of thL5 Other inforination, we are required to report tliat fact. We have nothing to report in this regard, Opinioiis on other matters prescribed by the Companies Act 2006 In our opinioii, based on the ivork undertaken in the course of the audit: the information given in the Report of the Trustees for the financial year for which the fmaI)cial statem¢nts al'e prepared is consistent with the financial statements. and the Report of the Truslees has been prepared in accordance with applicable legal requirements. The coinparatÈve f(Llre5 for the Charity for the year ended 31 August 2022 are unaudited. io
Repoyt of the Independent Auditors to the Trustees and Members of Holyiyood Steiner School Limited Matter5 on which Ive are required to report by exception In the light of the knowledge and understanding of the chai'itable coinpany aiid its environtnent obtained in the course of the audit, w¢ have not identified material InissialeJnents in the Report of the Trustees. We have nothing to report in respect of th¢ following matters where the Coinpanies Act 2006 requires us to i-eport to you if, in oiir opinion.. adequate accounting records have not been kept or returns adequate for oiir audit have not been received fi'oin bl'anches not visited by us. or the financial stateinents are not in agreeinent with Ihe accounting records and rethms; or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we reqiiire for our audit. or the trLlStees were not entitled to take advantage of the simall coinpanies exemption from the requirement to prepai'e a Sti'ategic Repot't or in preparing ihe R¢port of the Trustees. Re5poiisibilitics of trustees A5 explained Inot'e fLilly in the Statement of Trustees, Responsibilities, the trLlStees (who are also the directoi-s of the chai'ilabl¢ company for the piirposes of company law) are Te5ponsible for the preparalion of the financial slatemenls and foi- being satisfied that ihey give a true and lair view. and for such int¢mal control as lh¢ trustees detei'mine is nercssaiy to enable the preparation of financial staleinenls Ihat are free from inatei'ial misstateinent, whether due to fraiid or error. In pi'eparing the financial slalements. the trustees are responsible foy assessing the charitable ¢oinpany's ability to Continue as a going concern, disclosing, as applicable, Inatters related to going concern and using the going concei basis of accoiinting unless the ti'us¢ees eiiher intend to liquidate the charitable coinpany oi. to cease operations, oi. liave no i'ealistic altei'naliv¢ but io do so.
Report of the Independent Auditors to the Trustees and Members of Holywood Steiner Sehool Limited Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assui'ance about whether the financial stateinents as a whole are free fi'om material mi5Stateinent, whether due to fraiid or error, and io issue a Report of the Independent Aiiditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a gllRI'antee that an audit coiiducted Èn accoi-dance with ISAS (UK) will always detect a material Jnisstatement when it exists. Mi5Stateinents can ai'ise fi'om fraud or ¢n'or and are considered Inaterial if, individually or in the ag.tsretrate, they could reasonably be expected to influence the econoinic decisions of useiB taken on the basis of these financial statements. The extent to which our audit was capable of detecting irregularities, ineludillg fraud In'egulai'ilies. including fraud, are instances of non-coinpliance with laws and regulations. We design procedures in line with out. I'esponsibilities, outlined above, to detect material Inisstatemeiits in respect of irregularities. including fi'aud. In assessing and detecting iri'egularilies such as fraud and non-compliance with laws and regulations we Considered the following: the matte13 discussed among the audit engagement teain and any other relevant professionals regarding how and whei'e fraud inight occur in th¢ financial stateinent5 and any potential indicaloi's of fraud. the natiire of the indusliy and any laws and regulations applicable to the company and the industry. tlie conipany's own assessment of the risk of fraud and other irregularities; the coiiipany's policies and procedures in relation to: how they identify and coiT]ply with all relevant laws aiid regulations and whether tliey ale aware of any noi)-coiMpliance' how Ihcy delcct and I'espond to risks of fraud and their knowledge of any actual. suspected or alleged fraud. and the coiitrol environinenl within the company and how tliis Initigates risks of fraud and iiistances of non-coinpliance with laws aiid regulations. As a I'esiilt of these pi'ocedures, we constdered the opportunities and incentives that inay exist within the organisation for fi'diid and identified the greatest poleiitial foi. fi'aiid in relation to Ihisappi'oprialion of assets. In coininon with all audits under ISAS (UK), we ai'¢ also required to perform specifjc procediii'es to respond lo the risk of Inaiiageinent override. In response to the risk of material Inisstatement through irregularities and non-¢oinpliance with laws and reglilations, we designed procedui'es which incliided, but were not liinited to: eiisuring the engageinent team had the appropriate knowledge and expertise in order to be able to identify and recogni5e any instances of fraud or non-coinpliance with laws and regulations. lye identified the laws and regulations applicable to the coinpany through discussions ivilh directors and Inanagement and fi'oin oiir ki)owledge and experience of the seclor. and ensuring the audit was carried out with a level of professional scepticism. In response to the risk of irregularities and non-compliance with laws and reoulations. we designed procedures which included, but were not liinited to: enquii'ing of Inanageinent concerns of actual and potential litigation and clallns. agreeing the financial statement disclosures to underlying supporting dociiinentation to assess coinpliaiice with relevant laws and regulations; and reviewing correspondence with the Charity Commission for Northem Ireland and any other relevant regulatory bodies To address the risk of fraud through management bias and override of controls, Ive: pei'foi'in analytical procedures to identify any un115ual or unexpected relationships ihat may indicate risks of material misstate]ent due to fraud- test the appropi'iatene5s of joumal entries and other adjustments. assess whether the judgeinent5 tnade in making accounting estimates are indicative of a potential bias- and 12
Report of the Independent Auditors to th¢ Trustees and Members of Holyivood Steiner School Limited evaluate the business rationale of any significant transactions that are unusual or outside the nonnal course of busines5. We a150 communicated relevant identified laws and regulations and potenlial fraud risks to all engagement teain members and significant component audit leams, and remained alert to any indications of fraud or noncoinpliance with laws and regulations throughout the audit. Thei'e are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, Ihe less likely it is that we would become aware of non-coinpliance. Auditing standards also liinit the audit procedures required to idenlify non-compliance with laws and regulations to enquiry of the directoi's and other manag¢m¢nt and the inspection of regulatory and legal correspondence. if any. Material misstatements thal arise due to fraud can be harder to detect than those that arise froin error as they may involve deliberate concealinenl or collusion. A further description of our responsibilities for ihe audit of the financial statcinents is located on the Financial Repoiting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms parl of our Report of the Independent Auditors. Use of our report This i'eport is Inade solely to th¢ charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Coinpanies Act 2006. Our audit work has been undertaken so that we might slate to the charitable coinpany's Ineinbei's those inatters we are required to stal¢ to them in an auditors, report and for no other purpose. To the fullest extent perinitted by law, we do not accept or assuine responsibility to anyone oiher ihan the charitable coinpany and the charitable coinpany's inembers as a body, for our audit work, for this r¢port, or for the opinions we have foi'iiied. Conaill M¢Grady for and on behalf Chartered Accoiinta Slaliilory Auditors Siiite 2B Cadogan House 322 Lisburn Road Belfast Co. Anlrim BT9 6GH or Sta B.Mc Auditor) dy&Co 28 Augiist 2024 13
HOLYWOOD STEINER SCHOOL LIMITED Statement of Financial Activities (Incorporating ali Income and Ei xpenditur¢ Account) IOR TFIE YEAR ENDED 31 AUGUST 2023 3118123 Total funds 3118122 Total funds UnrestrictedRestricted funds fund Notes INCOMI AND KNDOWMENTS FROM Donations and legacies 8,771 8,771 2,605 Cha ritable activities Chai'itabl¢ Activiti¢s 628,240 10,696 638.936 460,689 Other trading activities Investment income 41,242 271 41,242 271 26,006 263 Total 678,524 10,696 689,220 489,563 F.XPF.NDITURE ON Charitable activities Chai'i¢able Activities Suppoi't Costs 694,772 8,874 703,646 545,203 Total 696,153 8,874 705 027 545,203 NEI T INCOME/(EXPENDITURE) (17,629) 1,822 (15,807) (55,640) RICONCILIATION OF fi UNDS I"otal funds bi'ought forward 125,625 250,167 375,792 431,432 TOTAL FUNDS CARRIED FORWARD 107,996 251,989 359,985 375 792 The notes fonn part of these fmancial slatements 14
HOLYWOOD STEINER SCHOOL LIMITED Balance Sheet 31 AUGUST 2023 3118123 3118122 Notes FIXED ASSETS Tangible as5els Investment5 14 15 463,132 477,283 4,469 466,220 481,752 CURRENT ASSE* TS Debtors Cash at bank and in hand 16 38,748 146 507 24,754 126 040 185,255 150,794 CREDITORS Aiiioiints falling due within one year (150J32) (107,556) NET CURRENT ASSETS TOTAL ASSETS LE+SS CURRENT LIABILITIES 501,143 524,990 CRIDITORS Ainounts falling due after inore than one year 18 (59,000) (59,000) PENSION LIABILITY 22 (82,158) {90,198) NET ASSEITS 359,985 375,792 FUNDS Uni'esli'icted funds., Genei'al fund Designated funds 190,154 215,823 107,996 125 625 Restricted fLinds'. Resti'icted fund 251,989 250 167 TOTAL FUNDS 359,985 375,792 The fmancial statements were approved by the Board of Tslee5 and authoi'ised for issue on 28 August 2024 and were signe its by.. Mr Garret O'Fachtna - Trustee The note5 forni part of these financial stateinents 15
HOLYWOOD STEINER SCHOOL LIMITED Cash fi loiv Statement FOR THE YEAR Et4DED 31 AUGUST 2023 3118123 3118122 Noles Cash flo)vs from operating activities Cash geneTated from operations 24 {28 209) Net cash provided by/(used in) operating actAVLties 28.209) Cash flows fi'om investing activities Piirchase of tangible fixed assets Interest received (9,962) 271 (26,927) 263 Net cash used in investing activities 9,691} 26,664 ChAnge in cash and cash equivalent5 in the reporting period Casli and cash cquivalents At the beginning of the reparting period 20,467 (54,873) 126 040 180.913 Ca%li fi nd ca511 eq uivolents at the end of the repoi'ting period 146 507 126,040 The notes form part of these financial stateinents 16
HOLYWOOD STEINER SCHOOL LIMITED Notes to the Fiiianci81 Statements FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The fjnancial stateinenls of the chariiable coinpany, which is a public benefit entity under FRS 102, have been pi'epared in accordance wilh the Charities SORP (FRS 102) 'Accoiinting and Reporting by Chai'ilies: Stateinent of RecoETllnended Practice applicable to chai'ities preparing their accoiints in accordance with the Financial Reporting Standai'd applicable in the UK and Repiiblic of li'eland (fRS 102) (effective l Januaiy 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of li'eland, and the Coinpanies Act 2006. The financial slaieinents have been pi'epared under the historical cost conveiition, with the exception of investinents which are incllided at inark¢t value. Tl)e chai'ity is incorporated in Northern Ireland. Income All incotne is recognised in the Slateinent of Financial Activities onc¢ the charity has entilleinent to the funds, it is probable that the incoine will be received and the aimoiint can be Ineasured reliably, Incotne from charitable activitie5 is the ainount derived from the provision of goods and services slated aftei, discoiints. Encoine fi'om donations or grants is recognised when there is evidence of entitle1ent to the gift, receipt 15 probable aiid ils ainouiit can be Ineasured i'eliably. I xpenditure Liabililics al'e recognised as expenditure as soon as there is a legal or constructive obligation cominitting ihe chai'ity to that expenditiire, it is probable that a trydnsfer of econoinic benefits will be reqiiired in settleinent and the aniount of the obligation can be Ineasured reliably. Expenditiire is accounled for on an acci'iials basis and has been classified under headings that aggregate all cost related to the category. Where c051s cannot be directly &tts'ibuled to particular lieadings they have be¢n allocated to aclivilies on a basis Consistent with the use of I'esources. Tangible fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated usefiil life. Freehold property FixtLLres and fittiiigs Coinpiiter equipinent 20/0 on cost l Oil/o on cost 100/9 on cost Tangible fixed assets are initially ineasured at cost. Taxxtion The charity is exempt from corporation lax on its charitable activities. Fund accounting Uiii'estricted funds can be used in accordance with the charitable objective5 at the discretion of the trustee5. Restricted funds can only be used for parlicular restrictd purposes within the objects of the charity. Restrictions arise when specified by the donoi. or when funds are rdised for particular restricted purpose5. Fuither explanation of the nature and purpose of each fund is included in the notes to the financial statements. 17 continued...
HOLYWOOD STEINER SCHOOL LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDCD 31 AUGUST 2023 ACCOUNTING POLICIES- continued Financi*l instruments Financial assets and financial liabilities are recognised when the chai'ity becoines party to tl)e contt'actual provisions of the instrument. Financial liabilities and equity instruments are classified according io the substance of the cont17Ctual arrangeinents entered into, An equity instrument is any contrdet that evidences a residiial interest in the assets of tlie charity after deducting all of ils liabilities. The charity's policies for ils major classes of financial assets and fmancial liabilities are set out below. Financial assets Basic fiiiancial assets. incliiding trade and other debtors and cash and bank balances are initially i'ecognised at transaction price, unless the arrnng¢ment constitutes a faficIng transaction, where the transaction is measured at the pirsent value of the future receipts discounted at a inarket rale of interest for a siinilai. debt insti'iirnent. Finai)cing transactions are those in which payinent is deferred beyond normal business terins or 15 fin8nced at a rate of interest that is not a inarkel rate. Such assets are siibsequently carried at amortised cost using the effective interest rate meihod, less aiiy inipairinent. Finall¢iAI IiAbilities Basic finaiicial liabilities, including trdde and other creditoi's and loans are initially recognised 8t ti'ai)sactioi) pi'ice, uiiless the ari'aiigeinent constitutes a financing irnnsaction, where the debt instruinent is measui'ed at the pi'esent value of the future payinentsdiscoiinted at a inai'kec rate of intei'e51 foi. a siinilai. debt instrLiinent. Financing li'ansaclions are those in whicl) payinent is deferred beyond normal business terins or is finaiiced at a rate of interest that is not a Inarket rate. Debt instruinents are siibsequently carried at ainortised cost, using the etyeclive interest rate method. Inipaiynient of financiAI assets rindncial assets iiieasiired at cost ai)d amortised cost are assessed at the end of each reporting pei'iod for objective evidence of iinpainnent. If objective evidence of iiiipairment is found, an iinpaii'inent loss is recognised in the profit and loss account. For financial assels measui'ed al cost less iinpainnent, the iinpainneiit loss is Ineasured as the difference between the asset'5 cariying amount and th¢ best esiiinate of the amount tlie charity would r¢reive foi. the assel if it were to be sold at the reporting date. For financial assets measured ai amortised cost, Ihe impainnent loss is ineasured as thc diffei'ence between the asset's ¢an'ying ainount and the present value of estimated cash flows discounted at the asset's oi'iginal effective interest rate. If the financial assei has a variable interest rate, the discount rate for measuriiig any iinpaiTinent loss is the current effective interest rate delerinined under the contract. If there is a decrease in the impairment Ios5 arising from an event occurring after the impairin¢nt was recognised, the i]npairment is reversed, The reversal is such that the current ca11ying flinount doe5 not exceed what the ¢aiTying amount would have been had the impairment not previously been recognised. The impairment reversal is recoonised in profit or loss. Derecognition ol financial a55ets and financial liabilities continued...
HOLYWOOD STEINER SCHOOL LIMITED Notc5 to the rt Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023 ACCOUNTING POLICIES - eontinued Finaiicial in5truznents Financial assets are derecognised Nvhen (a) tlie contractual ri) to the cash flows from the asset expire oi. are settled. or (b) substantially all the risks and rewai-ds of Ihe ownership of the asset are Iransferred to another party. or (c) despite having retained some significant risks and rewards of ownership, control of the assei to an uni'elated third party without imposing addilional restrictions. Financial liabilities are derecognised when the liability is extinguished. Ihat is wh¢n the contsactlial obligation is discharged, cancelled or expires. Offstttiiig of financial assets aiid finaiiei21 liabililits Financial assets and liabilities ar¢ offset and tlie net amounl reported in the balance sheet when there is an enforceabl¢ i'ighi lo s¢1 off the r¢congised amounls and thei¢ is an ii)¢ention to settle on a net basis oi. to realise the asset and settle the liability siinultaneoiisly. Pension costs and otlier post-retirement benefits The chariiable company operales a defined contribution pension scheine. Contributions payable to the charitable coinpaiiy's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Going concern The financial simtements have beert prepared on a going ¢oncem basis Wlth no material unceitaii)ties arising. The trustees believe that the charity will contiiiue as a going concern. Appropriate planning has been undertaken for the funding and pi-ovision of cliarilable services and and tliere are no concerns regarding the long-term fLinding for the charity and its activilies. DONATIONS AND LEGACIES 3118123 3118122 Donations and Gifts 8,771 OTHER TRADING ACTIVITIES 3118123 3118122 Playgi'oup Income Gliest Student Choir Iiicoine Afterschool club income Pai'¢nt and child gi'oLIP Room Hii'e Incoine GCSE fees 21,665 3,848 17.100 7,436 33 850 587 11,754 130 1.265 2,580 41,242 26,006 19 continued...
HOLYWOOD STLINER SCHOOL LIMITED Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023 INVESTMENT INCOME 3118123 3118122 Interest Receivable 271 263 INCOME FROM CHARITABLE ACTIVITIES 3118123 3118122 Activity Charilable Activities Charitable Activities Charitable Activities Parental Conu'ibutions Grant5 Other Inconie 584,587 34,929 19,420 452.518 6,729 1.442 638,936 460,689 Grant5 I'eceived, incliided in the above. are as follows-. 3118123 3118122 Ai'ds and North Down DAERA 2,279 CHARITABLE ACTIVITIES COSTS Dii'ecl Costs (See nole 7) Suppoi'l costs (see nole 8) Totals Chai-ilable Activities Support Costs 586,416 117,230 703,646 586,416 118 611 705,027 20 continued...
HOLYWOOD STII INER SCHOOL LIMITED Notes to the Financial Statements - continued roR THE YEAR ENDED 31 AUGUST 2023 DIRECT COSTS OF CHARITABLE ACTIVITIES 3118123 3118122 Staff costs Equipinent Rental Education Supplies Steiner School Fellowshtp Exainination Expenses Staff Travel and Ti'ainino Inci'¢ase in Bad Debt Provision Supply Teachers Grant expenditure Depreciation Loss on sale of assels 504,790 4,120 29,283 3,931 407,192 3,606 17,968 ,750 11 2,889 3,653 4,296 466 8,874 21,219 2,895 ,989 3,448 4,450 232 ,109 20,913 586 416 462,657 SUPPORT COSTS Information technology Management Finance Charitable Activities Siippoi't Costs 64,150 32,746 IS,334 64,J50 32,746 15,334 Human resources Govei'iiance e0515 Totals Charitable Activities Siipporl Costs 5,000 117,230 lJ81 1,381 5,000 118611 NIT INCOMEI(EXPENDITURE) Net in¢oine/(¢xp¢nditure) is stated after chargingl(crediting): 3118123 3118122 Depi'eciation - owned assets Deficit on disposal of fixed assets 21,218 2,895 20,871 continued...
HOLYWOOD STEI IP4ER SCHOOL LIMITED Note5 to the Financial Statemeiits continued FOR THE YEAR ENDED 31 AUGUST 2023 io. AUDITORS, REMUNERATION 3118123 3118122 Fees payable to the charity's auditors for the audil olthe charity's financial stateinents 3,140 ii. TRUSTEIS, REMUNERATION AND BENEFITS Theie were no trustees, remunerdlion or other benefits for the year ended 31 August 2023 nor for the year ended 31 Aiigust 2022. Ti'ustees, expeiises Their were no 31 August 2022. trust¢¢s' ¢xpenses paid for the year ended 31 Augu5t2023 nor for Ihe year ended 12. STAFF COSTS 3118123 3118122 Wages and salaries Social security costs Olhei. pension costs 461,605 29,980 373,996 22,643 10,553 504 790 407 192 The average monthly i)iiinber of eiiiployees during the year was as follows: 3118123 20 3118ll2 Teaching staff Non-teaching slaff 28 24 No employees received eii)oluinents in excess of £60,000. 13. ColARATIVEs FOR THE STATEMENT OF FllYANCIAL ACTIVITIES UnrestrictedRestricted fund5 fund Total funds INCOME AND ENDOWMENTS FROM Doi)ations and legacies 2,605 2,605 Charitable activitie5 Charitable Activities 455.260 5,429 460,689 Other trading activities li)vestsnent income 26.006 263 26,006 263 Total 484,134 489,563 22 continued...
HOLYWOOD STEif4ER SCHOOL LIMITED Notes to the Finaiicial Statements - continued FOR THE YCI AR ENDED 31 AUGUST 2023 13. COIVIPARATIVIS FOR THE STATEMENT OF FINANCIAL AcfiviTIES - continued Unre5tri¢tedRestrieted funds fuiid Total funds XPENDITURE ON Charitable activities Charitable Activities 537,292 545,203 NCT INCOMEI(EXPF.NDITURE) Transfers betiveen funds (53,158) (2.482) 2,279) (55,640) Net movement in funds (50,879) (4,761) (55,640) RECONCILIATION OF FUNDS Totttl ndS bi'ought forward 176.504 254,928 431,432 TOTAL FUNDS CARRIED FORWARD 125.625 250,167 375 792 14. TANGIIJLE FIXED ASSETS Improvements to proper(y Fixtures and ritlings Freehold property Computer equipinent Totals COST At I September 2022 Additions Disposals 722,412 23,440 7,302 100,081 2,400 15,355 260 6,159) 861,288 9,962 9,086) At 31 Aiigust 2023 722 412 9,456 862,164 DEPRECIATION At I September 2022 Chai'ge for year Eliininated on disposal 312,092 14,448 293 615 64,559 4.657 7,061 1,498 384,005 21,218 At 31 August 2023 326,540 908 399,032 NET BOOK VALUE At 31 August 2023 395 872 29.834 31,801 5,625 463,132 At 31 Augiist 2022 410,320 23,147 35,522 8,294 477,283 23 Continiied...
HOLYWOOD STII INER SCHOOL LIMITED Notes to the Finallcial Statements continued FOR THE YEAR CNDED 31 AUGUST 2023 15. FIXED ASSET INVESTMENTS Unlisted Rnve5tments IIiARKllT VALUE At I Septeinber 2022 Movement in year 4,469 At 31 August 2023 3,088 NET BOOK VALUE At 31 August 2023 3,088 At 31 Augusi 2022 4.469 There were no investment assets outside the UK. 16. DEBTORS: AMOUNTS FALLING DUC WITHIN ONE YEAR 3118123 3118122 Trade debtors Olher debtors Prepayin¢nls 35,042 979 21,566 367 2,821 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3118123 3118122 OihLI' loans (see note 19) Trnde creditors Social security and other taxes Other creditors Accruals and deferred incoime 5,165 19,923 6,859 108,236 5.165 11,423 10,887 73,898 150 332 107 556 24 continued...
HOLYWOOD STEINER SCHOOL LIMITED Notes to the fi inancial Statements continued FOR THE YEAR ENDED 31 AUGUST 2023 18. CREDITORS: AMOUNTS FALLING DUE AYfER MORE THAN ONE YEAR 3118123 3118122 Othei. loans (see note 19) 59,000 S9,000 19. LOANS An analysis of th¢ matui'ity of loans is given below- 3118123 3118122 Amounts falling due within oiie year on demand: Oth¢r loans 5,165 Aniounts falling between one and two years: Othei. loans - 1-2 years 59,000 59,000 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS 3118123 Tot21 fuiids 3118122 Total funds UijreslrietedRe5tricted fuiids fuiid Fixed assets Investments Cui'rent asset5 Clirrent liabilities Long tei'in l iabililies Pensioii liability 211,143 3,088 185,255 (150,332) (59,000) 82 158) 251,989 463,132 3,088 185,255 (150,332) (59,000) 82,158) 477,283 4,469 150,794 (107,556) (59,000) 90 198) 107 996 251989 359,985 375,792 21. MOVEMENT IN FUNDS Net movement In fuiids At 3118123 At 119122 Unrtstricted funds GLncral fund Designated funds 215,823 90.198) (25,669) 190,154 82,158) 125,62S (17,629) 107,996 Restricted funds Restricted fvnd 250,167 1,822 251,989 TOTAL FUNDS 375,792 359 985 25 continued...
HOLYWOOD STII IP4ER SCHOOL LIMITED Notes to the Finaneial Statements - continued FOR THE YEAR Il NDED 31 AUGUST 2023 21. MOVEMENT IN FUNDS - conlinued Net moveinent Èn funds, included in the above are as follows: Incoming resources Resources expcnded Movement in funds Unrestricted funds General fund Designated funds 678,524 (704,193) 8,040 (2S,669} 678,524 (696,153) (17,629) Restrieted lunds Restricted fund JO,696 (8,874) 1,822 TOTAL FUNDS 689 220 70fj,027) 15,807) ConipAratives for movement in funds Net movement iii funds TrAnsfers between funds At 3118122 At 119121 Unrestricted funds Genei'al nd Designated fiinds 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 254,9?8 (2,482) (2,279) 250,167 TOTAL FUNDS 431432 375 792 Compai'ative net moveinent in funds, included in the Above are as follows: Incoming resources Resources expended Movement in fund5 Unresti'icted funds General fund De5itynated funds 484,134 (551,971) 14,679 (67,837) 14,679 484,134 (537,292) (53.158) Re5trict¢d fund5 Restrirled fund 5,429 (7,911) (2,482) TOTAL FUNDS 489,563 545 20J 55,640) 26 ontinued...
HOLYWOOD STEI INER SCHOOL LIMITED Notes to the fi inancial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023 21. MOVEMENT IN FUNDS - continued A current year 12 tnonths and prioi. year 12 months co)nbin¢d position 15 as follows: Net movement Én funds Transfers betwecii funds At 3118n3 At 119r21 Unrestricted funds Genei'al fund Designated funds 281,381 104 877) (93.506) 2,279 190,154 82 158) 176,504 (70,787) 2,279 107.996 Restricted funds Restricted fund 254,928 (660) (2.279) 251,989 TOTAL fiUNDS 431.432 71,447) 359 985 A ciirrent year 12 Inonlhs and prior year 12 months coinbined net Inoveinent in funds, included in the above are as follows: Incoming resources Resources expended Movement In funds Unrestricted funds General fund Designated funds ,162.658 (1,256,164) (93,506) 22,719 ,162,658 (1,233,445) (70,787) Rcsti'icted funds Resti'icted fund 16,125 (16,785) (660) TOTAL FUNDS 1 178,783 (1250 230) 71447) 22. CMPLOYEE BENEFIT OBLIGATJONS A full actuarial valuation was last carried out at 29 December 2021 and valued the pension liability al £134.000. An actuarial review was carried out as at 29 Deceinber 2023 and estllnated ihe School's pension liability at £86,000. At 31 August 2023 £82,158 is recognised as designated funds in respect of this liability The cost of providing benefits under defined benefEt plans is deterinined separately and is based on actiiarial alculations. The change in the net defLned benefit liability arising from einployee service during the year is i'ecognised as an employee cost. The cost of plan intr(K4u¢tions, benefit changes. settlements and curtailments are recognised as incurred. Payments to defined conti'ibution retirement benefit schemes are charged as an expense as tliey fall due. 27 continued...
HOLYWOOD STEINER SCHOOL LIMITID Notes to the FiIiancial Statements - coiitinued FOR THE YEAR ENDED 31 AUGUST 2023 23. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 August 2023. 24. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 3118ll3 3118122 Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustinents for: Depreciation charges Loss on dispcisal of fixed assets lrnterest received (Gain) / Loss on Investinent Increase in debtors Inci'ease in ci'editors Diffei'ence between pension charge and cash coi)tributions (1 5,807) {55.640) 21,219 2,895 (271) 1,380 (13,994) 42,776 8.040) 20,871 (263) 2,081 (1.810) 14,012 7.460) Net cash provlded by/{u5cd in) operalions 28,209) 25. ANALYSIS OF CHANGES IN NET FUNDS At 119122 Cash flow At 3118123 Net cash Cash at bank and in hand 126040 146 $07 126,040 146,507 Debt Debis falling diie within l year Debts falling due after l year (5,165) 59,000) (5,165) 59 000) Total 82,342 28
HOLYWOOD STEINER SCHOOL LIMITED DetAiled Statement of Financial Aetivities FOR THE YCAR ENDED 31 AUGUST 2023 3118123 3118122 INCOME AND ENDOWMENTS Donations and legaci¢s Donations aiid Gifts 8,771 2,605 Other tradiiig activitie5 Playgroup Incoine Guest Sthdent Choii. Incoine Afterschool Cliib incoine Pai'¢nl and child group Rooin Flire Incoine GCSE 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 activities Pai'enlal Contribiitions Gi'ants Other In¢oine 584,587 34,929 19,420 452,518 6.729 1,442 638,936 460,689 TotRI incoming resoui'ces 689,220 489,563 CXPINDITURE ChAritAble Activities Staff Costs Social security Peiisioiis Eqiiipinent Rental Education Siipplies Steiner School Fellowship E,xainination Expenses Staff Travel and Training Inci'ease in Bad Debt Pi'ovision Siipply 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 3,006 17,968 1,750 1,989 3,448 4,450 232 1,109 41 441,785 562,302 ThÉs page does not form part of the statutory fjnancial statements 29
HOLYWOOD STEINER SCHOOL LIMITED Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2023 3118123 3118122 Cliaritable activities Bi'ought forward Depi-eciation and ImpaiiThents Loss on sale of tangible fjxed assets 562,302 21,219 441,785 20,872 586,416 462,657 Support costs Mailagement Rates and water Insui'ance Light and heat Telephotte and Internet Other Office Costs Advertising Coinputei. and Website Costs 694 17,441 23,972 5,241 5,531 7,65 607 13,858 20,324 3,997 4,541 2,919 3,090 64,150 49,336 FlnAnc¢ LcgT¢il and PIDfessional Fees SLindi-ies Bank ¢harges 28,577 2,837 13,735 1,594 1,170 32,740 16,499 ljiform8tion technology Repairs and maintenance 15,334 13,010 Huinan resource5 Movement on investments 1,381 2,081 Governance costs ALiditoi's' I'einuneralion Accountancy fees 3,140 1,860 5,000 Total resources expended 705 027 545 203 Net expenditure 1S807) 55,640) This page does not fonn part of the statutory fmancial statements 30