Charity registration number 1106446
Company registration number 05159277 (England and Wales)
THE MONTESSORI SCHOOLS FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 17 DECEMBER 2023
THE MONTESSORI SCHOOLS FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms D C J Cockburn
Mr J Filby
(Appointed 28 February 2023)
Ms V Knight
(Appointed 28 February 2023)
Secretary
Ms V Knight
Charity number
1106446
Company number
05159277
Principal address
67 Stanford Avenue
Brighton
East Sussex
BN1 6FB
Registered office
67 Stanford Avenue
Brighton
East Sussex
BN1 6FB
Accountants
John Caladine FCCA CTA FCIE
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
THE MONTESSORI SCHOOLS FOUNDATION
CONTENTS
Page
Trustees' report
1
Statement of trustees' responsibilities
2
Accountants' report
3
Statement of financial activities
4
Statement of financial position
5
Notes to the financial statements
6 - 9
THE MONTESSORI SCHOOLS FOUNDATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 17 DECEMBER 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 17 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019).

Objectives and activities

The charity's objectives are to advance education (including social and physical education) through methods of learning and education developed by Maria Montessori.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Review

The foundation is currently dormant awaiting the appointment of new trustee.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has not been maintained throughout the year.

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee and was registered with the Charities Commission on 24th October 2004 under number 1106446.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Ms D C J Cockburn
Ms Lynne Arnold
(Resigned 27 February 2023)
Mr J Filby
(Appointed 28 February 2023)
Ms V Knight
(Appointed 28 February 2023)

The charity is governed by the Trustees, and the Trustees have ultimate oversight. The Trustees are appointed by a majority of the existing Trustees.

 

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company.

The trustees' report was approved by the Board of Trustees.

Ms D C J Cockburn
Trustee
Dated: 9 September 2024
THE MONTESSORI SCHOOLS FOUNDATION
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 17 DECEMBER 2023
- 2 -

The trustees, who are also the directors of The Montessori Schools Foundation for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

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

 

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

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE MONTESSORI SCHOOLS FOUNDATION
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE MONTESSORI SCHOOLS FOUNDATION FOR THE YEAR ENDED 17 DECEMBER 2023
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Montessori Schools Foundation for the year ended 17 December 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 18 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of The Montessori Schools Foundation and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Montessori Schools Foundation and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that The Montessori Schools Foundation has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of The Montessori Schools Foundation. You consider that The Montessori Schools Foundation is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of The Montessori Schools Foundation. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

John Caladine FCCA CTA FCIE
9 September 2024
Chartered Certified Accountants
Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
THE MONTESSORI SCHOOLS FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 17 DECEMBER 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
500
-
Total income
500
-
Expenditure on:
Charitable activities
4
20
-
Total expenditure
20
-
Net income and movement in funds
480
-
Reconciliation of funds:
Fund balances at 18 December 2022
(55)
(55)
Fund balances at 17 December 2023
425
(55)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE MONTESSORI SCHOOLS FOUNDATION
STATEMENT OF FINANCIAL POSITION
AS AT
17 DECEMBER 2023
17 December 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Cash at bank and in hand
480
-
Current liabilities
9
(55)
(55)
Net current assets/(liabilities)
425
(55)
Income funds
Unrestricted funds
425
(55)
425
(55)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 17 December 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 9 September 2024
Ms D C J Cockburn
Trustee
Company Registration No. 05159277
THE MONTESSORI SCHOOLS FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 17 DECEMBER 2023
- 6 -
1
Accounting policies
Company information

The Montessori Schools Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is 67 Stanford Avenue, Brighton, East Sussex, BN1 6FB.

1.1
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.2
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity will have adequate resources when needed to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.5
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

THE MONTESSORI SCHOOLS FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 17 DECEMBER 2023
1
Accounting policies (Continued)
- 7 -
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.6
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are recognised in the period in which they are incurred and allocated to the particular cost centre to which they relate. These costs include irrecoverable VAT.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

THE MONTESSORI SCHOOLS FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 17 DECEMBER 2023
- 8 -
2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
500
-
4
Charitable activities

 

2022
2023
£
£
Share of governance costs (see note )
20
-
5
Net movement in funds
2023
2022
£
£
The net movement in funds is stated after charging/(crediting):
6
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
THE MONTESSORI SCHOOLS FOUNDATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 17 DECEMBER 2023
7
Employees (Continued)
- 9 -
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Current liabilities
2023
2022
£
£
Other payables
55
55
10
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 18 December 2022
Incoming resources
Resources expended
At 17 December 2023
£
£
£
£
General funds
(55)
500
(20)
425
Previous year:
At 18 December 2021
Incoming resources
Resources expended
At 17 December 2022
£
£
£
£
General funds
(55)
-
-
(55)
11
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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