REGISTERED COMPANY NUMBER: 06156711 (England and Wales)

REGISTERED CHARITY NUMBER: 1140307

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 August 2025

for

Zelda School

(A Company Limited by Guarantee)

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

17

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity's objective is:

"The advancement of education for children by establishing and running a primary school and otherwise supporting the education of young children."

At Zelda School we aim to develop happy,self-disciplined and motivated children. Children learn through play and projects, either individually or collaboratively. This is a place where parents and members of the wider community can take an active role in school life and where people are not measured against each other but against their own potential.

We aim to teach a love of learning and to stimulate natural curiosity by:

- Recognising each child's needs, talents and interests;

- Supporting the individual's style of learning by allowing them to create their own projects within the curriculum; and

- Giving children the motivation and reasons to research and study, allowing them to extend themselves.

We aim to provide children with the knowledge, skills and confidence to become democratic, self-respecting, loving adults.

Significant activities

This year we have continued to run Zelda School as a two class school at Holifield Farm in Cornwall, for up to 30 children each day.

Zelda School is a small environmentally friendly school, with buildings and furniture made from sustainable materials. We have been developing our gardens with the children and have a lovely vegetable patch with a poly-tunnel, a small woodland and an outdoor learning area. Outdoor learning and the environment are key features of education at Zelda School. There is a stable and highly committed team of staff working at Zelda School.

We continue to explore opportunities to further extend the Zelda School ethos to older groups of children and children in other geographical areas, and expand further into offering outdoor learning teacher training for mainstream school teachers.

This year has seen significant cost increases due to inflationary trends in the UK, which has resulted in a significant increase in fees charged. Demand has remained strong, however, and the school continues to be in a strong position to enhance learning in West Cornwall. Our Ofsted rating continues to be "Outstanding".

Public benefit

The trustees have given due consideration to Charity Commission published guidance on the operation of the Public Benefit requirement.

Volunteers

We would like to thank the many parents and carers who commit so much time and energy to Zelda School and make the running of a school like this possible. The support of parents who clean, come to workdays and support the school fundraising activities are much appreciated by the trustees and recognised as vital to building the school community.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The primary focus of our charity is the operation of a small school in Cornwall, for up to 30 children each day at Holifield farm in Gweek. Overall, around 50 families have benefited from the education provided at Zelda School over the last year, and 12 people are employed by Zelda School. Our school at Holifield continues to operate from from 2 yurt classrooms. Future plans for development of the school site include development of an improved access route to the school in collaboration with our landowners. Planning permission has now been obtained for this road and work is expected to commence in 2025. We have worked hard to support children with SEND this year, increasing our skills and knowledge through various training including PEG feeding and using life support equipment, training to identify and support Neurodiversity and training to support children with their speech and language development.

We have made further links with the wider community and worked hard as a school community to raise funds for additional equipment to enhance the educational experience of all the children who attend Zelda School. School parents have been responsible for continuing to develop our site with new opportunities for imaginative and creative play.. We have supported staff to gain further qualifications and improve their practice, which is supporting our mission and enhancing the quality of our service, including supporting an apprentice.

Fundraising activities

Zelda School is fortunate to have a very active school community which organises many fundraising events throughout the course of each year. Fundraising efforts have focused on raising funds for additional resources for the school, with the added benefit that the events are enjoyed by all who attend. .

FINANCIAL REVIEW

Financial position

The school made an overall net deficit of £1,641 this year, mainly due to the one off costs of replacing the yurt roof and paying the £2,500 contribution to the access road.

The principal sources of income were school fees of £86,622 (2024 £87,394) and Early Learning Scheme fees of £117,017 (2024 £97,593). In addition £1,200 was raised from the provision of a holiday club.

Total incoming resources were £11,858 higher than last year while total costs were £25,226 higher than last year.

Reserves policy

The trustees are seeking to build up the reserves to a level which could support the operations of the charity during any temporary reduction in local authority or private income.. The trustees are therefore working towards holding reserves of approximately six months core expenditure and the charity currently holds reserves equivalent to four months' planned expenditure.

FUTURE PLANS

We continue to develop the Zelda School vision for the next five years. Part of this has been to clearly define our strategic focus, which is 'To develop and innovate outdoor and child-led learning and to impact mainstream education.' The primary way in which we achieve this is by running the school and constantly testing and innovating new methods of outdoor learning (inspired to a large extent by the children's ideas). We aim to run teacher-training courses at Zelda School, which are very well received by teachers from mainstream schools who wish to learn how to bring their teaching 'outside'.

Plans are in place for the development of a 3rd classroom area at our Holifield Farm site, which we hope to start building in 2026. This will increase the number of families who are able to attend Zelda School and marks a significant increase in our facilities which we are very please to be able to undertake.

Future plans include increased exposure for senior staff members at conferences and workshops around the country, which is important to keep them connected with the wider educational landscape,and also for raising the profile of what we do at Zelda School.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Potential new trustees are invited to attend the next trustees' meeting and given an information pack in order for them to understand the role. Should they wish to be considered further they are invited to explain how and why they would like to be involved, and the existing board votes on whether to accept their application. If successful, background checks are carried out before being approved by Ofsted.

Organisational structure

Chairperson

Mrs Victoria Strugnell

Secretary

Mrs Zelda Astley

Treasurer

Dr Russ Monhemius

Management of school

Mrs Zelda Astley & Miss Jackie Cockerill

Artistic director

Mrs T Robertson

Fundraising directors

Mr Ashley Beevers & Hailey Tamblyn

Wider network

This year we are again very grateful for all the support from Holifield Farm Project who have given us the use of the land on which we run Zelda School for a very low rent and have also allowed us to share their fabulous resources at Holifield Farm. This year has once again seen a focus on the core strengths of Zelda School, and a strengthening of the development plans for the future.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06156711 (England and Wales)

Registered Charity number

1140307

Registered office

Trewince Farm

Manaccan

Helston

Cornwall

TR12 6JD

Trustees

Miss Z C Astley Teacher

Dr R Monhemius Trustee

Mrs T E Robertson Artist and Housewife

Mrs K J White Copywriter

Miss V E Strugnell Area SEN casework officer

A D Beevers (appointed 25.11.24)

Mrs H J Tamblyn (appointed 6.5.25)

Company Secretary

Miss Z C Astley

Independent Examiner

Natalie Coleman FCCA

Roy Pinnock & Co LLP

Chartered Certified Accountants

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 29 April 2026 and signed on its behalf by:

Dr R Monhemius - Trustee

Independent examiner's report to the trustees of Zelda School ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Natalie Coleman FCCA

Roy Pinnock & Co LLP

Chartered Certified Accountants

Wren House

68 London Road

St Albans

Hertfordshire

AL1 1NG

29 April 2026

31.8.25

31.8.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

-

-

8,918

Charitable activities

Primary school

204,909

-

204,909

184,987

Training courses

-

-

-

70

Other trading activities

3

3,617

-

3,617

2,736

Investment income

4

49

-

49

6

Total

208,575

-

208,575

196,717

EXPENDITURE ON

Raising funds

493

-

493

854

Charitable activities

5

Primary school

198,058

-

198,058

175,439

Other

9,165

2,500

11,665

8,697

Total

207,716

2,500

210,216

184,990

NET INCOME/(EXPENDITURE)

859

(2,500

)

(1,641

)

11,727

RECONCILIATION OF FUNDS

Total funds brought forward

49,362

2,500

51,862

40,135

TOTAL FUNDS CARRIED FORWARD

50,221

-

50,221

51,862

31.8.25

31.8.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

6,698

-

6,698

8,930

CURRENT ASSETS

Debtors

12

7,368

-

7,368

11,138

Cash at bank and in hand

46,013

-

46,013

64,066

53,381

-

53,381

75,204

CREDITORS

Amounts falling due within one year

13

(9,181

)

-

(9,181

)

(27,595

)

NET CURRENT ASSETS

44,200

-

44,200

47,609

TOTAL ASSETS LESS CURRENT LIABILITIES

50,898

-

50,898

56,539

CREDITORS

Amounts falling due after more than one year

14

(677

)

-

(677

)

(4,677

)

NET ASSETS

50,221

-

50,221

51,862

FUNDS

16

Unrestricted funds

50,221

49,362

Restricted funds

-

2,500

TOTAL FUNDS

50,221

51,862

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 29 April 2026 and were signed on its behalf by:

R Monhemius - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charity is a private company limited by guarantee.

Management accounts are compared to termly projections of income and expenditure and reserves are maintained equivalent to three months' planned expenditure, of which staff salaries are the largest commitment.

The school's income has increased again this year, due both to an increase in Early Learning Scheme fees and Holiday Club income. Although the accounts are showing a small net deficit, this is due to one off costs. In the opinion of the trustees the charity is a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Where school fees or Early Learning Scheme fees are received in advance of the term to which they relate, they are included in deferred income.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs include the costs of preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Allocation and apportionment of costs

Costs are allocated directly to the activity to which they relate. Where the costs incurred relate to more than one activity, they are apportioned on a basis consistent with the resource.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Yurt & Buildings

-

25% on reducing balance

Equipment

-

25% on reducing balance

Tangible assets are capitalised if they can be used for more than one year and cost at least £500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2.	DONATIONS AND LEGACIES

31.8.25

31.8.24

£

£

Donations

-

400

Grants

-

8,518

-

8,918

Grants received, included in the above, are as follows:

31.8.25

31.8.24

£

£

Best Practice Network

-

7,000

Other grants

-

1,518

-

8,518

3.	OTHER TRADING ACTIVITIES

31.8.25

31.8.24

£

£

Fundraising events

3,557

2,736

Yurt hire

60

-

3,617

2,736

4.	INVESTMENT INCOME

31.8.25

31.8.24

£

£

Bank interest receivable

49

6

5.	CHARITABLE ACTIVITIES COSTS

Direct

Costs

£

Primary school

198,058

6.	SUPPORT COSTS

Governance

Management

costs

Totals

£

£

£

Other resources expended

7,529

1,903

9,432

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.8.25

31.8.24

£

£

Independent examiner's remuneration

1,020

984

Depreciation - owned assets

2,232

2,977

8.	TRUSTEES' REMUNERATION AND BENEFITS

31.8.25

31.8.24

£

£

Trustees' salaries

29,574

24,130

Trustees' pension contributions to money purchase schemes

576

429

30,150

24,559

The trustees' salaries shown above are as follows:

Zelda Astley

Headteacher

£25,437

Russ Monhemius

Administrator

£4,137

Pension contributions made on behalf of trustees are as follows:

Zelda Astley

Headteacher

£576

These payments are made under the authority of the Memorandum of Association.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.

9.	STAFF COSTS

31.8.25

31.8.24

£

£

Wages and salaries

146,049

140,464

Social security costs

1,584

-

Other pension costs

2,059

1,695

149,692

142,159

The average monthly number of employees during the year was as follows:

31.8.25

31.8.24

Teachers

4

4

Teaching assistants

2

2

Cook

1

1

Administrator

1

1

8

8

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

8,518

400

8,918

Charitable activities

Primary school

184,987

-

184,987

Training courses

70

-

70

Other trading activities

2,736

-

2,736

Investment income

6

-

6

Total

196,317

400

196,717

EXPENDITURE ON

Raising funds

854

-

854

Charitable activities

Primary school

175,039

400

175,439

Other

8,697

-

8,697

Total

184,590

400

184,990

NET INCOME

11,727

-

11,727

RECONCILIATION OF FUNDS

Total funds brought forward

37,635

2,500

40,135

TOTAL FUNDS CARRIED FORWARD

49,362

2,500

51,862

11.	TANGIBLE FIXED ASSETS

Yurt &

Furniture

Buildings

& fixtures

Equipment

Totals

£

£

£

£

COST

At 1 September 2024 and 31 August 2025

46,948

4,439

11,816

63,203

DEPRECIATION

At 1 September 2024

40,652

3,076

10,545

54,273

Charge for year

1,574

340

318

2,232

At 31 August 2025

42,226

3,416

10,863

56,505

NET BOOK VALUE

At 31 August 2025

4,722

1,023

953

6,698

At 31 August 2024

6,296

1,363

1,271

8,930

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Other debtors

3,267

3,183

Prepayments and accrued income

4,101

7,955

7,368

11,138

Other debtors is made up as follows:

31.8.25

31.8.24

£

£

School fees

4,767

3,183

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans and overdrafts (see note 15)

4,000

4,000

Deferred income

4,027

22,263

Accrued expenses

1,154

1,332

9,181

27,595

Deferred income represents school fees and Early Learning Scheme fees received in the year before that to which they relate.

2025

2024

Balance brought forward

22,263

2,501

Released during the year

-22,263

-2,501

Received during the year

4,027

22,263

Balance carried forward

4,027

22,263

14.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.25

31.8.24

£

£

Bank loans (see note 15)

677

4,677

15.

LOANS

An analysis of the maturity of loans is given below:

31.8.25

31.8.24

£

£

Amounts falling due within one year on demand:

Bank loans

4,000

4,000

Amounts falling between one and two years:

Bank loans - 1-2 years

677

4,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

677

During the year, the charity paid interest on its bank loan of £171 (2024 £272).

16.	MOVEMENT IN FUNDS

Net

movement

At

At 1.9.24

in funds

31.8.25

£

£

£

Unrestricted funds

General fund

49,362

859

50,221

Restricted funds

Access Road

2,500

(2,500

)

-

TOTAL FUNDS

51,862

(1,641

)

50,221