**REGISTERED CHARITY NUMBER: 1000146**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 August 2021**
**for**
**Torah Temimoh Primary School**
Frank Martin
5 North End Road London NW11 7RJ
**Torah Temimoh Primary School**
**Contents of the Financial Statements for the Year Ended 31 August 2021**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 2|
|**Independent Examiner's Report**|3|
|**Statement of Financial Activities**|4|
|**Balance Sheet**|5|
|**Cash Flow Statement**|6|
|**Notes to the Cash Flow Statement**|7|
|**Notes to the Financial Statements**|8 to 12|
|**Detailed Statement of Financial Activities**|13|
**Torah Temimoh Primary School**
## **Report of the Trustees for the Year Ended 31 August 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. 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 objectives of the charity are the advancement of the education of the public, and in particular but not so as to limit the generality of the foregoing, providing and maintaining a school for young persons under the age of eighteen.
## **Strategies for achieving objectives**
The charity achieves its objectives by supporting the work of the Torah Temimah Primary School (an independent entity), a Voluntary Aided school based in the London Borough of Brent, in particular by funding the religious study provision of the school. The charity also makes various smaller grants to other bodies with an educational objective.
The charity fundraises from the local community and beyond in order to be able to support its objectives.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
Funds donated to the Torah Temimoh Primary School and related entities amounted to £698,715 (2020: £594,763). With a background of falling income in real terms, all Government funded schools are finding their financial position increasingly precarious. The trustees of the charity are determined that no child should suffer educationally from the current funding crisis. The trustees, and the volunteers working with the charity are working hard to ensure that the school can continue to deliver an outstanding education to all of its pupils. Donations to the school are used to cover staff costs and to ensure that teacher numbers do not have to be cut, as this would have a negative effect on the education offered.
## **FINANCIAL REVIEW**
## **Financial review and reserves policy**
Torah Temimah Primary School has a challenged financial outlook. Most of the parents are from mid socio-economic background. This means that the school cannot take advantage of the many funding streams available for pupils from more disadvantaged backgrounds. In the 20-21 financial year, the school had the lowest amount of pupils on Pupil Premium in the Borough of Brent. Being a small school of around 200 pupils results in high overhead costs; the reality of the size of the building means that there is no scope to increase the size of the school. Government funding for schools is currently being diverted away from London towards the more rural areas of the country.
The trustees aim to keep £50,000 in reserve. This level is set as a reasonable level in order to meet any unexpected costs of the school or other charities applying for funding.
## **FUTURE PLANS**
The Trustees wish to continue supporting the Torah Temimoh Primary School for future periods. It is recognised that further fundraising will be necessary, and the trustees plan to approach Trusts, Foundations and individuals to allow them to further the educational prospects of the children in the school.
The trustees are aware of the risk that the Coronavirus pandemic poses to fundraising and have engaged with donors to stress the importance of their continued donations to the charity. The trustees will be reviewing the charity's ongoing operations in response to fluctuations in income.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust dated 1st August 1990, and constitutes an unincorporated charity.
## **Method of appointment of trustees**
The management of the charity is the responsibility of the Trustees who are appointed by resolution of the existing trustee body. New trustees receive appropriate training based on a skills audit on appointment.
Page 1
**Torah Temimoh Primary School**
## **Report of the Trustees for the Year Ended 31 August 2021**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1000146
## **Principal address**
11 Sinclair Grove London NW11 9JH
## **Trustees**
A Heller R Kaufman
## **Independent Examiner**
Frank Martin FCA 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ A Heller - Trustee
Page 2
**Independent Examiner's Report to the Trustees of Torah Temimoh Primary School**
## **Independent examiner's report to the trustees of Torah Temimoh Primary School**
I report to the charity trustees on my examination of the accounts of Torah Temimoh Primary School (the Trust) for the year ended 31 August 2021.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Frank Martin FCA 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
**Torah Temimoh Primary School**
## **Statement of Financial Activities for the Year Ended 31 August 2021**
|31.8.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
870,925
Investment income
3
31
**Total**
870,956
**EXPENDITURE ON**
Raising funds
4
8,621
**Charitable activities**
5
Funds expended on the school
698,715
Donations paid
19,000
**Total**
726,336
**NET INCOME**
144,620
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
155,432
**TOTAL FUNDS CARRIED FORWARD**
300,052|31.8.20
Total
funds
£
736,272
63
736,335
28,817
594,763
19,250
642,830
93,505
61,927
155,432|
|---|---|
The notes form part of these financial statements
Page 4
**Torah Temimoh Primary School**
## **Balance Sheet 31 August 2021**
|31.8.21
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Cash at bank
300,052
**NET CURRENT ASSETS**
300,052
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
300,052
**NET ASSETS**
300,052
**FUNDS**
9
Unrestricted funds
300,052
**TOTAL FUNDS**
300,052|31.8.20
Total
funds
£
155,432
155,432
155,432
155,432
155,432
155,432|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. A Heller - Trustee
The notes form part of these financial statements
Page 5
**Torah Temimoh Primary School**
## **Cash Flow Statement for the Year Ended 31 August 2021**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.8.21
£
144,620
144,620
144,620
155,432
300,052|31.8.20
£
93,505
93,505
93,505
61,927
155,432|
|---|---|---|
The notes form part of these financial statements
Page 6
**Torah Temimoh Primary School**
## **Notes to the Cash Flow Statement for the Year Ended 31 August 2021**
|**1.**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING**
**ACTIVITIES**
31.8.21
£
**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
144,620
**Adjustments for:**
**Net cash provided by operations**
144,620|31.8.20
£
93,505
93,505|
|---|---|
2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1/9/20|Cash flow|At 31/8/21|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank|155,432|144,620|300,052|
||155,432|144,620|300,052|
|**Total**|155,432|144,620|300,052|
The notes form part of these financial statements
Page 7
**Torah Temimoh Primary School**
**Notes to the Financial Statements for the Year Ended 31 August 2021**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **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.
## **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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Taxation**
The charity is exempt from 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.
## **2. DONATIONS AND LEGACIES**
|Donations|31.8.21
£
870,925|31.8.20
£
736,272|
|---|---|---|
continued...
Page 8
**Torah Temimoh Primary School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **3. INVESTMENT INCOME**
|**3.**|**INVESTMENT INCOME**|||
|---|---|---|---|
|||31.8.21|31.8.20|
|||£|£|
||Bank interest received|31|63|
|**4.**|**RAISING FUNDS**|||
||**Raising donations and legacies**|||
|||31.8.21|31.8.20|
|||£|£|
||Fundraising costs|8,621|28,817|
## **5. CHARITABLE ACTIVITIES COSTS**
|Funds expended on the school
Donations paid
**6.**
**GRANTS PAYABLE**
Donations paid|Direct
Costs
£
698,715
-
698,715|Grant
funding of
activities
(see note
6)
£
-
19,000
19,000
31.8.21
£
19,000|Totals
£
698,715
19,000|
|---|---|---|---|
||||717,715|
||||31.8.20
£
19,250|
The total grants paid to institutions during the year amounted to £19,000 (2020: £19,250).
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
continued...
Page 9
**Torah Temimoh Primary School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Funds expended on the school
Donations paid
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**9.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/9/20
£
155,432
155,432
Incoming
resources
£
870,956
870,956|Unrestricted
fund
£
736,272
63
736,335
28,817
594,763
19,250
642,830
93,505
61,927
155,432
Net
movement
At
in funds
31/8/21
£
£
144,620
300,052
144,620
300,052
Resources
Movement
expended
in funds
£
£
(726,336)
144,620
(726,336)
144,620|
|---|---|---|
continued...
Page 10
**Torah Temimoh Primary School**
**Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **9. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|||Net||
|---|---|---|---|
|||movement|At|
||At 1/9/19|in funds|31/8/20|
||£|£|£|
|**Unrestricted funds**||||
|General fund|61,927|93,505|155,432|
|**TOTAL FUNDS**|61,927|93,505|155,432|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
736,335
736,335|Resources
Movement
expended
in funds
£
£
(642,830)
93,505
(642,830)
93,505|
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/9/19
£
61,927
61,927|Net
movement
in funds
£
238,125
238,125|At
31/8/21
£
300,052
300,052|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|
Resources|Movement|
|---|---|---|---|
||resources|
expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|1,607,291|(1,369,166)|238,125|
|**TOTAL FUNDS**|1,607,291|(1,369,166)|238,125|
continued...
Page 11
**Torah Temimoh Primary School**
**Notes to the Financial Statements - continued for the Year Ended 31 August 2021**
## **10. RELATED PARTY DISCLOSURES**
Mr R Kaufman is also a trustee of Delapage Limited and Royalheath Charitable Trust Limited.
During the year, the charity received donations totalling £20,000 from Delapage Limited and £5,000 from Royalheath Charitable Trust Limited.
Page 12
**Torah Temimoh Primary School**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2021**
||31.8.21|31.8.20|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|870,925|736,272|
|**Investment income**|||
|Bank interest received|31|63|
|**Total incoming resources**|870,956|736,335|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Fundraising costs|8,621|28,817|
|**Charitable activities**|||
|Funds expended on the school|698,715|594,763|
|Grants to institutions|19,000|19,250|
||717,715|614,013|
|Total resources expended|726,336|642,830|
|**Net income**|144,620|93,505|
This page does not form part of the statutory financial statements
Page 13