Charity registration number 529111 (England and Wales)
Company registration number 00926012
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
School Council
Mr J Roberts
(Chair) (Appointed 26 March 2025)
Mr N Naru
(Vice Chair)
Mr T Cuthbertson
Mrs C Davidson
Mrs J De-Viell
Mrs H Forshaw
Mrs R James
Mrs C Johnson
Mrs P Rishi
(Appointed 26 March 2025)
Mr R Southwood
Mr R Taylor
Mr S Bickerton
(Chair) (Resigned 14 February 2025)
Ms S Brett
(Resigned 27 February 2025)
Mr S Dalingwater
(Resigned 17 June 2024)
Mr M Jones
(Resigned 16 October 2024)
Head
Ms A Coulson
Deputy Head
Ms J Giles
Ms L Soutar
Bursar
Ms J Brophy
Charity number
529111
Company number
00926012
Registered office
Clarence Road
Horsforth
Leeds
LS18 4LB
Auditor
Hentons
Northgate
118 North Street
Leeds
West Yorkshire
LS2 7PN
Bankers
Virgin Money UK
Leeds City Branch
94-96 Briggate
Leeds
LS1 6NP
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
CONTENTS
Page
Trustees report
1 - 8
Independent auditor's report
9 - 11
Statement of financial activities
12
Balance sheet
13
Statement of cash flows
14
Notes to the financial statements
15 - 28
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
- 1 -

The School Council present the report and financial statements for the year ended 31 August 2024.

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 School'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 2016).

Aims and Objectives

The Froebelian School and First Steps Nursery aims to provide education and care of the highest possible standard to children from 3 months to the age of 11.

 

The School has the following specific objectives:

 

 

In addition, the School also fosters links with the local community and raises funds for local, national and international charities.

 

The School Council’s main role is ensuring delivery of these objectives and also to maintain pupil numbers, to invest in facilities, to identify possible opportunities to extend our provision and to continue to provide financial support to pupils in need of fee assistance whenever possible and compatible with the responsibility to run the school prudently.

 

In setting its objectives and planning its activities, Council has given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education and on fee charging.

Ethos, strategy and policies

Our school motto, 'Giving a flying start to the citizens of tomorrow', emphasises our dedication to providing the knowledge, skills, experiences and opportunities that prepare children for the future. Small class sizes and an excellent staff to pupil ratio allow The Froebelian School to treat each child as an individual. The partnership with parents is close and supportive and every child's progress is carefully monitored and reported to parents regularly.

 

In addition to providing an outstanding academic education in the crucial early years, The Froebelian School encourages the development of expressive talents and a love for and appreciation of music and the performing arts with plenty of opportunities for public performance. The sporting and extra-curricular programme has recently undergone significant development and provides exceptional facilities, specialist coaches and the opportunity to participate in regular competitive fixtures.

 

The Froebelian School seeks to benefit the public through the pursuit of its stated aims. School fees are set at a level to ensure the financial viability of the School whilst remaining consistent with our aim of providing education and care of the highest possible standard at affordable fee levels.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -

The Froebelian School provides significant public benefit in a variety of ways, including:

 

 

Our School welcomes pupils from all backgrounds. An individual’s economic status, gender, ethnicity, race, religion or disability do not form part of our assessment procedures. We are an equal opportunity organisation and are committed to a working environment that is free from any form of discrimination on the grounds of colour, race, ethnicity, religion, sex, sexual orientation or disability. We will make reasonable adjustments to meet the needs of staff or pupils who are or become disabled.

The School Council (whose members are both trustees and directors) meets regularly and is responsible for setting strategic priorities and objectives and overseeing delivery of these. In addition, Council reviews operational performance and has constituted a number of sub-committees (e.g. Finance, Marketing, Education, Governance, Nursery) and working groups (as required) to provide support, guidance and oversight in certain key aspects of operations.

 

Our School is committed to safeguarding and promoting the welfare of our pupils and expects all staff and volunteers to share this commitment. In the latest Independent Schools Inspectorate report, the pastoral care at the school was described as "Excellent", the highest possible grade. The School regularly reviews its policies on child protection, safeguarding and health and safety. All staff regularly undertake safeguarding and child protection training.

Access Policy

We are confident that our fees are reasonable and represent excellent value for money. It is a long standing policy that fee levels are set to ensure that they are affordable to as wide a cross section of the local population as possible. However, it is important to us that access to the education we offer is not restricted only to those who can afford our fees.

Bursaries & Hardship Assistance

The Council places great importance on the School's Bursary Policy. We established a Bursary Fund in the year 2000 and generally have added to it every year. The School Council has agreed that a prudent proportion of fee income should also be used to fund bursaries or hardship cases. The School embraces the principle that fee income will, whenever possible, contribute support to bursaries and hardship.

 

Our bursary awards are available to all who meet our general entry requirements and are made solely on the basis of parental means or to relieve hardship where a pupil’s education and future prospects would otherwise be at risk, for example in the case of redundancy. Bursaries are reviewed annually, and hardship assistance is reviewed termly. The level of support will vary according to family income, but those with low incomes may qualify for up to 100% remission of the normal fees. The School believes that bursary provision is a vital tool in broadening access, ensuring that pupils from a range of backgrounds are able to benefit from the education we provide.

 

In this academic year 2023/24, we awarded bursaries of up to 100% to 15 pupils. The total awarded amounted to £60,313. Details of our Bursary Policy and how to apply are on our website.

 

We have provided hardship support to 6 children whose families have suffered financial challenges. We provided hardship support to the value of £2,224 during the 2023/24 academic year.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -

Review of Activities and Achievements

 

The School's principal activity continues to be the provision of a co-educational day school and nursery for children up to 11 years. In addition, the School has provided care both before and after school and holiday clubs throughout the school holidays. When necessary, services are registered with Ofsted.

 

First Steps Nursery underwent its second Ofsted inspection in June 2022 and retained the "Outstanding" rating that was first awarded in 2016 shortly after the Nursery opened. The nursery is open 51 weeks of the year.

 

A detailed review of the School’s achievements is provided each year by the Head at Speech Day and many of them are reported in the Froebelian Digest, published termly and circulated to all current parents, prospective parents, many former pupils and other interested parties.

The School was most recently inspected by the Independent Schools Inspectorate(ISI) in March 2025. This was the first inspection under the new ISI framework. The School met all the standards across every area- education, wellbeing, leadership, governance and safeguarding. The report itself affirms the strength of the School’s leadership, the quality of our teaching and curriculum, the exceptional behaviour and attitudes of our children, and the positive impact of our inclusive, values-led approach. The feedback from inspectors throughout the visit was rich with praise-particularly regarding our culture of kindness, the depth of pupil voice, and the strong relationships between staff, pupils and parents.

 

Although the formal report cannot reflect many of the anecdotes and individual commendations shared verbally, it does highlight:

 

The School was previously inspected by the ISI in January 2022. The School met all regulatory requirements. In the Education Quality Inspection (2017) we were rated as 'Excellent', the highest possible grade.

 

All leavers progressed to the school of their choice, many of them receiving multiple offers of places and scholarships.

 

School Council would like to take this opportunity to thank all our staff at both the school and nursery for their hard work, dedication and support in the strategic growth of the school. In September 2024, the school opened a brand new facility to accommodate children from 2 years old within the school building. This builds on the school's strength in Early Years. There are currently 14 children attending with plans to increase this to 17 places with the increase in funded provision to 30 hours.

 

The School is actively supported by the FPTA, a separate registered charity, and the School Council would like to thank FPTA for their continued and valuable support. Further information about FPTA can be accessed via the School website www.froebelian.com. The School also receives assistance from a number of other parents and supporters with activities such as reading, school projects and trips. Again, we are very grateful for this help.

Financial review

Pupil fees

The termly fees before the deduction of any means assisted bursaries and hardship assistance were:

 

First Steps Nursery at Froebelian currently has a substantial waiting list. Fees during the 2023/24 financial year were as follows:

 

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -

Financial results for the year

The School Council reports an overall deficit of £211,494 after payment of Bursary and Hardship grants totalling £59,047.

 

The cash deficit in the year, total deficit adding back depreciation, is £129,809. Following the financial year end the caretaker's house owned by the School was deemed surplus to requirements and was sold in January 2025, generating cash in excess of £200,000.

 

The Froebelian School remains financially strong due to substantial balance sheet reserves and a year-end cash balance of £138,237 (stated after payment of the final proportion of refurbishment costs). Cost control remained a key focus for the Council throughout the year, particularly in response to persistently high inflation and rising utility and staff costs.

Reserves

Council regularly reviews the adequacy of reserves to ensure that the long term future of the School is secure. At 31st August 2024 our total reserves stood at £2.2m, of which £2.2m were unrestricted. The School has no borrowings and all the assets are unencumbered.

Investment policy

The investment powers of the School are governed by the Memorandum and Articles of Association which permit monies to be invested as considered appropriate and after taking the necessary professional advice. Investment income is raised primarily from placing monies on deposit with banks and building societies.

 

Memorandum and Articles of Association prohibits the payment of any dividends to the members.

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

Future Plans

Council intends to continue its current strategy of maintaining the School's position in a competitive market by investing to provide high quality education for all pupils.

 

The 2024/2025 academic year sees the fruition of the 2 year old expansion with further growth in Froebelian’s Early years (0 to 5 years) offer.

 

In addition, Council regularly reviews its strategy in order to continue to place Froebelian at the forefront of excellent education provision and care.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -

Educational Future Plans

 

At Froebelian, we remain steadfast in our mission to provide an exceptional, values-led education that nurtures the whole child. As we look ahead, our strategic educational development will build on our long-standing commitment to academic excellence, personal growth, and community engagement.

 

Our future plans focus on four transformational pillars:

 

1. Future-Ready Learning

We are evolving our curriculum to ensure children are equipped with the skills they need to thrive in an ever-changing world. This includes:

•    Expanding digital fluency through an integrated technology and coding curriculum.

•    Embedding global citizenship, environmental stewardship, and sustainability into thematic units.

•    Developing metacognition and independent thinking skills from the earliest years.

 

2. Flourishing Minds and Bodies

We will further embed wellbeing and performance enhancement into daily school life, including:

•    A school-wide mental health and resilience programme rooted in Froebelian's principles.

•    Nutrition and movement innovations, in collaboration with leading specialists, to optimise learning and health.

•    Expansion of The Power Start to include parent-child sessions and targeted performance coaching.

 

3. Excellence Through Individualised Learning

Recognising the unique potential in every child, we will:

•    Invest in adaptive learning technologies and specialist-led provision for those who need additional stretch or support.

•    Develop a Gifted Learners Pathway and continue to enrich our SEND provision.

•    Introduce personal learning journals for all children, linked to the Froebelian Learner Profile.

 

4. Strengthening Community and Opportunity

Froebelian will always be a family. Looking ahead, we will:

a. Continue to Build upon a Culture of Belonging

•    Foster even stronger relationships through initiatives that celebrate diversity and inclusion across our school community.

•    Launch parent-led interest groups and community storytelling events to deepen bonds between families and staff.

b. Froebelian Families in Partnership

•    Introduce a structured parent partnership programme, including workshops, open classrooms, and ‘learning alongside’ days.

c. Alumni and Legacy Connections

•    Establish a formal Froebelian Alumni Network to inspire current children through real-world stories and mentoring.

•    Create a legacy programme where alumni and former parents can contribute to bursaries, facilities, and special projects.

d. Service, Citizenship and Outreach

•    Launch a Froebelian Service Programme encouraging children to lead and participate in community projects and charitable ventures.

•    Build partnerships with local schools, care homes, and charities to develop empathy and real-world engagement.

e. Celebrating Childhood Together

•    Introduce seasonal family experiences and intergenerational events—from Forest School picnics to creative arts festivals.

•    Make school a hub of joy, wonder, and shared memory-making for children and families alike.

f. Creating Shared Spaces

•    Reimagine key areas of the school into multi-use, welcoming spaces for family learning, parent support, and out-of-hours enrichment.

•    Design a “Community Courtyard” or “Wellbeing Garden” as a physical symbol of connection and calm.

Structure, governance and management
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -

The school was founded in 1913 and was incorporated as a company limited by guarantee (no.00926012) in 1969. The School is a registered charity (no.529111).

 

Governing document

The company is governed by its Memorandum and Articles of Association dated 28 February 1969.

 

Governing body

School Council members serve as directors of the company and are the charity trustees. Members are elected at a meeting of the School Council on the basis of nominations received concerning eligibility, personal competence, specialist skills and local availability. Council ensures that there is an appropriate balance of diversity and that a relevant blend of specialist skills is represented in the membership. The members who served during the year are listed on the Legal and Administrative pages of this report.

 

All Trustees give up their time freely and no remuneration or expenses for their services were paid in the year. In 2023/24 no governor or person connected with a governor received any benefit from means tested bursaries or hardship assistance awarded to our pupils.

Trustee/ governor induction and training

The Head and the Chair of the School Council brief new members of the Council about the workings of the School. This induction includes an introduction to the aims of the School, Charity Commission information on Trustee responsibilities and copies of previous Council Minutes and of trustee annual reports and accounts. Through membership of the Incorporated Association of Preparatory Schools (IAPS), the Association of Governing Bodies of Independent Schools (AGBIS), the Independent Schools Bursars' Association (ISBA) and of the Independent Schools Council (ISC), appropriate training is provided for all senior staff and members of the Council (governors).

Organisation management

The School Council meets at least once each term and therefore at least three times each year to determine the general policy of the School (company with charitable status) and to review its management, performance and control, for which they are legally responsible. In addition, the School council holds an Annual General Meeting (AGM) to receive and approve the audited accounts. The day to day management of the School is delegated to the Head (who is chief executive), assisted by the Senior Leadership Team and the Bursar.

Risk management

The School Council keeps the School's activities under review, particularly with regard to any major risks that may arise, as well as the systems and procedures established to manage them. Each year at the AGM the Council reviews risk management to monitor the effectiveness of internal controls and other measures, including insurance cover, which might mitigate risks already identified. The School also retains the services of specialist health and safety consultants and human resources consultants.

 

Trustees

The Council (Trustees), who also constitute the directors of the company for the purposes of the Companies Act, and who served during the year are listed on the legal and administrative pages.

 

No preference dividends were paid. The directors do not recommend payment of a final dividend.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 7 -
Statement of Trustees responsibilities

Company law requires the members of the Council to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing those financial statements, the members of the Council are required to

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

The members of the Council must, in determining how amounts are presented within items in the statement of financial activities and balance sheet, have regard to the substance of the reported transaction or arrangement, in accordance with generally accepted accounting principles and practice.

The members of the Council have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
Auditor

The auditors, Henton & Co LLP, were appointed in the year.

 

This report has been prepared in accordance with the provisions applicable to companies subject to the Small Companies Regime.

 

The appointment of Henton & Co LLP as auditor was first approved by the Council at its meeting on 28 January 2011.

Disclosure of information to auditor

Each of the School Council has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees report was approved by the School Council.

Mr N Naru
Vice Chair of Council
Dated: 27 May 2025
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
- 9 -

Opinion

We have audited the financial statements of The Froebelian School (Horsforth) Limited (the ‘School’) for the year ended 31 August 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the School in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the School’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the School Council with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The School Council are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the Trustees report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

-

the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
- 10 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the School and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of trustees' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit; or

-

the School Council were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report.

Responsibilities of School Council

As explained more fully in the statement of Trustees responsibilities, the School Council, who are also the directors of the School for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the School Council determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the School Council are responsible for assessing the School’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the School Council either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies 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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
- 11 -
Christopher Howitt (Senior Statutory Auditor)
For and on behalf of Hentons, Statutory Auditor
Chartered Accountants
Northgate
118 North Street
Leeds
West Yorkshire
LS2 7PN
27 May 2025
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
- 12 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Charitable activities
3
2,307,171
-
2,307,171
2,296,958
-
2,296,958
Other trading activities
5
7,191
-
7,191
12,031
-
12,031
Investments
4
6,459
-
6,459
7,008
-
7,008
Total income
2,320,821
-
2,320,821
2,315,997
-
2,315,997
Expenditure on:
Charitable activities
6
2,473,268
59,047
2,532,315
2,459,786
47,162
2,506,948
Total expenditure
2,473,268
59,047
2,532,315
2,459,786
47,162
2,506,948
Net expenditure
(152,447)
(59,047)
(211,494)
(143,789)
(47,162)
(190,951)
Transfers between funds
-
-
-
(36,295)
36,295
-
Net movement in funds
7
(152,447)
(59,047)
(211,494)
(180,084)
(10,867)
(190,951)
Reconciliation of funds:
Fund balances at 1 September 2023
2,347,910
69,805
2,417,715
2,527,994
80,672
2,608,666
Fund balances at 31 August 2024
2,195,463
10,758
2,206,221
2,347,910
69,805
2,417,715

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

The notes on pages 15 to 28 form part of these financial statements.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 13 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
2,211,089
2,260,737
Current assets
Debtors
13
198,129
118,102
Cash at bank and in hand
138,237
331,497
336,366
449,599
Creditors: amounts falling due within one year
14
(341,234)
(292,621)
Net current (liabilities)/assets
(4,868)
156,978
Total assets less current liabilities
2,206,221
2,417,715
The funds of the School
Restricted income funds
16
10,758
69,805
Unrestricted funds
17
2,195,463
2,347,910
2,206,221
2,417,715

The notes on pages 15 to 28 form part of these financial statements.

The financial statements were approved by the School Council on 27 May 2025
Mr N Naru
Vice Chair of Council
Company registration number 00926012 (England and Wales)
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
22
(167,682)
(158,761)
Investing activities
Purchase of tangible fixed assets
(32,037)
(74,109)
Investment income received
6,459
7,008
Net cash used in investing activities
(25,578)
(67,101)
Net cash used in financing activities
-
-
Net decrease in cash and cash equivalents
(193,260)
(225,862)
Cash and cash equivalents at beginning of year
331,497
557,359
Cash and cash equivalents at end of year
138,237
331,497

The notes on pages 15 to 28 form part of these financial statements.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 15 -
1
Accounting policies
Charity information

The Froebelian School (Horsforth) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Clarence Road, Horsforth, Leeds, LS18 4LB.

1.1
Accounting convention

The financial statements have been prepared in accordance with the School'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 2016). The School is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the School. 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.

1.2
Going concern

At the time of approving the financial statements, the School Council have a reasonable expectation that the School has adequate resources to continue in operational existence for the foreseeable future. Thus the School Council continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

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

Restricted funds are those donated for use in a particular area or are for specific purposes, the use of which is restricted to that area or purpose.

1.4
Income
Income is recognised when the School 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 School 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. Donations receivable for the general purposes of the Charity are credited to Unrestricted Funds. Donations for purposes restricted by the wishes of the donor are taken to Restricted Funds where these wishes are legally binding on the Council, except that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for instead as Endowments - permanent or expendable according to the nature of the restriction.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for fees for the school year ending 31 August 2024.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 16 -
1.5
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.

Direct expenditure is summarised under functional headings on a direct cost basis. For overhead costs, it is apportioned according to management estimates. The irrecoverable element of VAT is included with the item of expense to which it relates.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation has been provided on tangible assets to write off the cost over their useful lives adopting the following rates and bases:
Land and buildings
1% straight line
Fixtures, fittings & equipment
20% reducing balance
IT equipment
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the School reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
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.

1.9
Financial instruments

The School has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the School's balance sheet when the School becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 17 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors 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 creditors 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 School’s contractual obligations expire or are discharged or cancelled.

1.10
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 School is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
True and Fair View
By the nature of its principal activities, the Company is a non-profit making organisation and because of this, a Profit and Loss Account is not included in these accounts, being replaced by a Statement of Financial Activities.
1.12
Donations
Donations receivable for the general purposes of the Charity are credited to Unrestricted Funds.  Donations for purposes restricted by the wishes of the donor are taken to Restricted Funds where these wishes are legally binding on the Council, except that any amounts required to be retained as capital in accordance with the donor's wishes are accounted for instead as Endowments - permanent or expendable according to the nature of the restriction.
1.13
Share capital
The company has no share capital. The liability of the members is Limited by Guarantee, each member having undertaken to contribute such amount not exceeding one pound as may be required in the event of the company being wound up whilst he or she is a member, or within one year thereafter.
2
Critical accounting estimates and judgements

In the application of the School’s accounting policies, the School Council 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.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 18 -
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Fees receivable

2,307,171
2,296,958
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Interest receivable
6,459
7,008
5

Other income

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Other income

1,851
1,266

Rental income

5,340
10,765
7,191
12,031
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 19 -
6
Charitable activities

Staff costs

Depreciation

Other costs

Total
2024
Total
2023
2024
2024
2024
£
£
£
£
£
Teaching costs
1,565,119
57,248
186,038
1,808,405
1,802,036

Welfare costs

48,383
-
92,160
140,543
164,037

Premises

48,201
24,437
193,383
266,021
227,572

Management & administration

167,549
-
85,710
253,259
260,741

Charitable donations

-
-
59,047
59,047
47,162
1,829,252
81,685
616,338
2,527,275
2,501,548
Fees payable to auditor - audit
-
-
5,040
5,040
5,400
1,829,252
81,685
621,378
2,532,315
2,506,948
Analysis by fund
Unrestricted funds
1,829,252
81,685
562,331
2,473,268
2,459,786
Restricted funds
-
-
59,047
59,047
47,162
1,829,252
81,685
621,378
2,532,315
2,506,948
Prior year
Unrestricted funds
1,805,155
81,460
573,171
2,459,786
Restricted funds
-
-
47,162
47,162
1,805,155
81,460
620,333
2,506,948
2024
2023
£
£
Teaching costs include:
School activities and projects
18,847
44,305
School books & equipment
16,666
19,814
Welfare costs include:
Food and kitchen expenses
92,160
95,969
Premises costs include:
Repairs and renewals
29,711
28,053
Cleaning
8,059
6,140
Governance costs include:
Auditors remuneration
5,040
5,400
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 20 -
7
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
-
-
Depreciation of owned tangible fixed assets
81,685
82,526
8
School Council
None of the School Council (or any persons connected with them) received any remuneration or benefits from the School during the year.

Members of the Council received no remuneration in respect of their role as director and trustee.

9
Auditor's remuneration

The analysis of auditor's remuneration is as follows:

Fees payable to the School's auditor and associates:
2024
2023
£
£
Audit of the School's annual accounts
5,400
5,400
In respect of associated pension schemes
Audit
600
1,000
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 21 -
10
Employees
Number of employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Teachers
13
11
Teaching Assistants
13
15
Domestic
6
7
Administration
6
6
Nursery
26
27
64
66
Key management personnel
Total
Employment costs
2024
2023
2024
2023
£
£
£
£
Wages and salaries
204,655
188,653
1,497,945
1,453,353
Social security costs
26,671
22,092
129,932
124,496
Other pension costs
30,206
26,881
145,092
129,773
261,532
237,626
1,772,969
1,707,622

During the prior year the charitable company underwent significant staffing changes. This has resulted in a higher staffing cost for the year than normal. It has also resulted in 2 members of staff earning over £60,000, which has been caused by a member of staff stepping up while another member of staff was absent from work.

The number of employees whose annual remuneration was £60,000 or more were:
2024
2023
Number
Number
Teaching
1
2
11
Taxation
The company is a Registered Charity providing educational needs and as such is exempt from taxation.
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 22 -
12
Tangible fixed assets
Land and buildings
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 September 2023
2,443,739
728,210
3,171,949
Additions
-
32,037
32,037
At 31 August 2024
2,443,739
760,247
3,203,986
Depreciation and impairment
At 1 September 2023
376,157
535,055
911,212
Depreciation charged in the year
24,437
57,248
81,685
At 31 August 2024
400,594
592,303
992,897
Carrying amount
At 31 August 2024
2,043,145
167,944
2,211,089
At 31 August 2023
2,067,582
193,155
2,260,737
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
173,093
49,417
Other debtors
-
9,992
Prepayments and accrued income
25,036
58,693
198,129
118,102
14
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Other taxation and social security
28,126
27,424
Deferred income
15
212,707
109,210
Trade creditors
32,549
88,480
Other creditors
55,856
21,709
Accruals
11,996
45,798
341,234
292,621
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 23 -
15
Deferred income
2024
2023
£
£
Other deferred income
212,707
109,210

Deferred income is included in the financial statements as follows:

2024
2023
£
£
Deferred income is included within:
Current liabilities
212,707
109,210
Movements in the year:
Deferred income at 1 September 2023
109,210
87,927
Resources deferred in the year
103,497
21,283
Deferred income at 31 August 2024
212,707
109,210

Deferred income relates to fees for the forthcoming school term.

16
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 September 2023
Resources expended
Transfers
At 31 August 2024
£
£
£
£
Fundraising account
(3,469)
-
-
(3,469)
Restricted donations
37,661
-
-
37,661
Bursary and hardship
35,613
(59,047)
-
(23,434)
69,805
(59,047)
-
10,758
Previous year:
At 1 September 2022
Resources expended
Transfers
At 31 August 2023
£
£
£
£
Fundraising account
(3,469)
-
-
(3,469)
Restricted donations
37,661
-
-
37,661
Bursary and hardship
46,480
(47,162)
36,295
35,613
80,672
(47,162)
36,295
69,805
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
16
Restricted funds
(Continued)
- 24 -

The fundraising account refers to fundraising carried out by the School specifically for the purpose of making donations to other charitable bodies.

 

The School, in recognition of its charitable status, established a bursary fund to provide support for current and future pupils who experience difficulties in meeting their financial commitment to the School.

17
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 1 September 2023
Incoming resources
Resources expended
Transfers
At 31 August 2024
£
£
£
£
£
General funds
2,347,910
2,320,821
(2,473,268)
-
2,195,463
Previous year:
At 1 September 2022
Incoming resources
Resources expended
Transfers
At 31 August 2023
£
£
£
£
£
General funds
2,527,994
2,315,997
(2,459,786)
(36,295)
2,347,910
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 August 2024:
Tangible assets
2,211,089
-
2,211,089
Current assets/(liabilities)
(15,626)
10,758
(4,868)
2,195,463
10,758
2,206,221
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 August 2023:
Tangible assets
2,260,737
-
2,260,737
Current assets/(liabilities)
87,173
69,805
156,978
2,347,910
69,805
2,417,715
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 25 -
19
Related party transactions

During the year Kenneth Beaty, who was a director of The Froebelian School (Horsforth Limited until his resignation on 31 August 2023, is a director of a company which ultimately owns Sagars Accountants, who provided accounting assistance to the school. The total expensed in the year was £18,600 (2023 £7,938), there was £6,000 (2023 £3,000) outstanding at the year end. The school also incurred costs of £nil (2023 £6,479) to Anderson. Anderson & Brown, who are part of Sagars. The amount outstanding at the year end is £nil (2023 £1,855).

 

There were no other disclosable related party transactions during the year (2023 - none).

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 26 -
20
Pension costs

The School makes pension contributions under the Teacher's Pension Scheme (TPS) and The Pensions Trust Growth Plan. The assets of both schemes are held separately from those of the company in independently administered funds. The amounts recognised in the Statement of Financial Activities as an expense for both schemes was £145,092 (2023: £129,773). Included in creditors at the year end was a balance of £20,281 (2023: £15,637) in respect of unpaid contributions.

THE PENSION TRUST GROWTH PLAN

The Charitable Company participates in the scheme, a multi-employer scheme which provides benefits to some 1,300 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

 

The scheme is classified as a 'last man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

 

A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 31 January 2025:

£11,243,000 per annum (payable monthly and

increasing by 3% each on 1st

April)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2014. This valuation showed assets of £793.4m, liabilities of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2016 to 30 September 2025:

£12,945,440 per annum (payable monthly and

increasing by 3% each on 1st

April)

From 1 April 2016 to 30 September 2028:

£54,560 per annum (payable monthly and

increasing by 3% each on 1st

April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
20
Pension costs
(Continued)
- 27 -
TEACHERS' PENSION SCHEME (TPS)
Introduction
The Teachers' Pension Scheme (TPS or scheme) is a statutory, unfunded, defined benefit occupational scheme, governed by the Teachers' Pensions Regulations 2010 (as amended), and the Teachers' Pension Scheme Regulations 2014 (as amended). These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership. Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS.
The Teachers' Pension Budgeting and Valuation Account
Although members may be employed by various bodies, their retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and Public Service Pensions Act (2013) and are paid by public funds provided by Parliament. The TPS is an unfunded scheme and members contribute on a 'pay as you go' basis - contributions from members, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Acts.
The Teachers' Pension Regulations 2010 require an annual account, the Teachers' Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pension increases). From 1 April 2001, the Account has been credited with a real rate of return, which is equivalent to assuming that the balance in the Account is invested in notional investments that produce that real rate of return.
Valuation of the Teachers' Pension Scheme
As a result of the latest scheme valuation employer contributions were increased in September 2019 from a rate of 16.4% to 23.6%. Employers also pay a charge equivalent to 0.08% of pensionable salary costs to cover administration expenses.
The next valuation is expected to take effect in 2023
A copy of the latest valuation report can be found on the Teachers' Pension Scheme website.
Scheme Changes
In December 2018, the Court of Appeal held that transitional protection provisions contained in the reformed judicial and firefighter pension schemes, introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were therefore unlawful. The Supreme Court, in a decision made in June 2019, rejected the Government's application for permission to appeal the Court of Appeal's ruling and subsequently referred the case to an Employment Tribunal to determine a remedy which will need to be offered to those members of the two schemes who were subject of the age discrimination.
Since then, claims have been lodged against the main public service schemes including the TPS. The Department has conceded those in line with the rest of the government. In July 2020 HM Treasury launched a 12-week public consultation which will provide evidence to support the delivery of an appropriate remedy for the affected schemes, including TPS.
A final remedy will be determined once the results of the consultation are established.
THE FROEBELIAN SCHOOL (HORSFORTH) LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
20
Pension costs
(Continued)
- 28 -
In December 2019, a further legal challenge was made against the TPS relation to an identified equalities issue whereby male survivors of opposite-sex marriages and civil partnerships are treated less favourably than survivors in same-sex marriages and civil partnerships. The Secretary of State for Education agreed not to defend the case. In June 2020, the Employment Tribunal recorded its findings in respect of the claimant. DfE is currently working to establish what changes are necessary to address this discrimination.
21
Analysis of changes in net funds

The School had no debt during the year.

22
Cash generated from operations
2024
2023
£
£
Deficit for the year
(211,494)
(190,951)
Adjustments for:
Investment income recognised in statement of financial activities
(6,459)
(7,008)
Depreciation and impairment of tangible fixed assets
81,685
82,526
Movements in working capital:
(Increase) in debtors
(80,027)
(54,456)
(Decrease) in creditors
(54,884)
(10,155)
Increase in deferred income
103,497
21,283
Cash absorbed by operations
(167,682)
(158,761)
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