REGISTERED CHARITY NUMBER: 1000146
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2024
for
Torah Temimoh Primary School
Torah Temimoh Primary School
Contents of the Financial Statements for the Year Ended 31 August 2024
| 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 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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 £649,463 (2023: £836,428). 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 23-24 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.
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.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1000146
Page 1
Torah Temimoh Primary School
Report of the Trustees
for the Year Ended 31 August 2024
Principal address 11 Sinclair Grove London NW11 9JH
Trustees A Heller
Independent Examiner Frank Martin Martin+Heller 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 2024.
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 member of the Institute of Chartered Accountants in England and Wales, 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
Torah Temimoh Primary School
Statement of Financial Activities for the Year Ended 31 August 2024
| 31.8.24 | 31.8.23 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 814,217 | 811,826 |
| Investment income | 3 | 33 | 18 |
| Total | 814,250 | 811,844 | |
| EXPENDITURE ON | |||
| Raising funds | 4 | 9,600 | 17,089 |
| Charitable activities | 5 | ||
| Funds expended on the school | 649,463 | 836,428 | |
| Donations paid | 34,400 | 12,500 | |
| Total | 693,463 | 866,017 | |
| NET INCOME/(EXPENDITURE) | 120,787 | (54,173) | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 128,659 | 182,832 | |
| TOTAL FUNDS CARRIED FORWARD | 249,446 | 128,659 |
The notes form part of these financial statements
Page 4
Torah Temimoh Primary School
Balance Sheet 31 August 2024
| 31.8.24 | 31.8.23 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Cash at bank | 249,446 | 128,659 | |
| NET CURRENT ASSETS | 249,446 | 128,659 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 249,446 | 128,659 | |
| NET ASSETS | 249,446 | 128,659 | |
| FUNDS | 9 | ||
| Unrestricted funds | 249,446 | 128,659 | |
| TOTAL FUNDS | 249,446 | 128,659 |
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 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) 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 |
31.8.24 £ 120,787 120,787 120,787 128,659 249,446 |
31.8.23 £ (54,173) (54,173) (54,173) 182,832 128,659 |
|---|---|---|
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 2024
| 1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.8.24 £ Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) 120,787 Adjustments for: Net cash provided by/(used in) operations 120,787 |
31.8.23 £ (54,173) |
|---|---|
| (54,173) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1/9/23 | Cash flow | At 31/8/24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 128,659 | 120,787 | 249,446 |
| 128,659 | 120,787 | 249,446 | |
| Total | 128,659 | 120,787 | 249,446 |
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 2024
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 AND LEGACIES | ||
|---|---|---|
| 31.8.24 | 31.8.23 | |
| £ | £ | |
| Donations | 814,217 | 811,826 |
continued...
Page 8
Torah Temimoh Primary School
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
3. INVESTMENT INCOME
| Bank interest received 4. RAISING FUNDS Raising donations and legacies Fundraising costs 5. CHARITABLE ACTIVITIES COSTS Funds expended on the school Donations paid 6. GRANTS PAYABLE Donations paid |
31.8.24 £ 33 31.8.24 £ 9,600 Grant funding of activities Direct (see note Costs 6) £ £ 649,463 - - 34,400 649,463 34,400 31.8.24 £ 34,400 |
31.8.23 £ 18 31.8.23 £ 17,089 Totals £ 649,463 34,400 |
31.8.23 £ 18 31.8.23 £ 17,089 |
|---|---|---|---|
| 683,863 | |||
| 31.8.23 £ 12,500 |
The total grants paid to institutions during the year amounted to £34,400 (2023: £12,500). Total grants paid to institutions is comprised as follows:
| Comet Charities Ltd | 13,000 |
|---|---|
| Beis Soroh Schneirer | 8,000 |
| Beth Midrash Lemoroth | 5,400 |
| Yeshiva Lezeirim | 5,500 |
| Torah Vodaas Ltd | 2,500 |
| 34,400 | |
continued...
Page 9
Torah Temimoh Primary School
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||
|---|---|---|---|
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 811,826 | ||
| Investment income | 18 | ||
| Total | 811,844 | ||
| EXPENDITURE ON | |||
| Raising funds | 17,089 | ||
| Charitable activities | |||
| Funds expended on the school | 836,428 | ||
| Donations paid | 12,500 | ||
| Total | 866,017 | ||
| NET INCOME/(EXPENDITURE) | (54,173) | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 182,832 | ||
| TOTAL FUNDS CARRIED FORWARD | 128,659 | ||
| MOVEMENT IN FUNDS | |||
| Net | |||
| movement | |||
| At 1/9/23 | in funds | At 31/8/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 128,659 | 120,787 | 249,446 |
| TOTAL FUNDS | 128,659 | 120,787 | 249,446 |
9. MOVEMENT IN FUNDS
continued...
Page 10
Torah Temimoh Primary School
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 814,250 | (693,463) | 120,787 |
| TOTAL FUNDS | 814,250 | (693,463) | 120,787 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | |||
| At 1/9/22 | in funds | At 31/8/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 182,832 | (54,173) | 128,659 |
| TOTAL FUNDS | 182,832 | (54,173) | 128,659 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 811,844 | (866,017) | (54,173) |
| TOTAL FUNDS | 811,844 | (866,017) | (54,173) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/9/22 | in funds | At 31/8/24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 182,832 | 66,614 | 249,446 |
| TOTAL FUNDS | 182,832 | 66,614 | 249,446 |
continued...
Page 11
Torah Temimoh Primary School
Notes to the Financial Statements - continued for the Year Ended 31 August 2024
9. MOVEMENT IN FUNDS - continued
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 | 1,626,094 | (1,559,480 ) | 66,614 |
| TOTAL FUNDS | 1,626,094 | (1,559,480 ) | 66,614 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024.
Page 12
Torah Temimoh Primary School
Detailed Statement of Financial Activities for the Year Ended 31 August 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Bank interest received Total incoming resources EXPENDITURE Raising donations and legacies Fundraising costs Charitable activities Funds expended on the school Grants to institutions Total resources expended Net income/(expenditure) |
31.8.24 £ 814,217 33 814,250 9,600 649,463 34,400 683,863 693,463 120,787 |
31.8.23 £ 811,826 18 811,844 17,089 836,428 12,500 848,928 866,017 (54,173) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 13