**REGISTERED CHARITY NUMBER: 1028006**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **FOR**
## **ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2021**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
The trustees present their report with the financial statements of the charity for the year ended 31 March 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**
Ilford Jewish Primary School Trust Fund (IJPS) works with children who attend the school and their families. In furtherance of its objectives, IJPS carries out the following activities for the public benefit of its users:
(a) Provision of orthodox Jewish education for children enrolled in the school.
(b) Provision of necessary security arrangements to protect children enrolled in the school.
(c) Contributions to the upkeep of the premises, as required by voluntary aided schools.
## **Public benefit**
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aim and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The charity has continued to support the school materially and financially in its ongoing improvement plan. The results from this have begun to bear fruit and the senior leadership team are pleased with the progress that has been made across all areas of activity. The charity believes that the need to build on the school's Jewish ethos has never been more crucial to its future and we continue to offer support in this area.
## **FINANCIAL REVIEW**
## **Financial results**
The financial results for the year to 31 March 2021 are shown in the attached financial statements.
Total income decreased by £27,327 from £105,446 in 2020 to £78,119 and expenditure has decreased by £71,952 from £152,244 in 2020 to £80,292.
There was a net decrease in funds of £2,173 with total unrestricted funds carried forward of £7,963 (2020- £10,136).
## **Reserves policy**
The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving resources through voluntary income. The trustees consider that the ideal level of reserves as at 31 March 2021 would be three months of resources expended which equates to £20,073.
The free reserves as at 31 March 2021 were £6,246 (excluding fixed assets of £1,717) which is significantly short of the target figure. In calculating the reserves, the trustees have excluded from total funds fixed assets and any restricted income funds.
The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide financial stability and flexibility.
## **FUTURE PLANS**
The next twelve months will be both exciting and challenging for the school as it continues to maximise the ability to offer the best possible Jewish educational experience for our pupils from the modest income available. Careful and prudent management will ensure that this is achieved.
## **COVID-19**
Since the beginning of 2020, the Covid-19 pandemic has developed rapidly, with significant social and economic impact. We have taken a number of measures to monitor and ensure the health and safety of our employee, volunteers and end beneficiaries. At this stage the impact on our ability to continue with our charitable activities is not significant. We have adapted our fundraising and trading activities to comply with government's policies and guidance.
Page 1
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
## **IJPS' constitutional aim and power**
In accordance with charity law, IJPS' activities are covered by our constitutional aims, objects and powers or be associated with, or a consequence of achieving or seeking to achieve our charitable objects. The principle object of the charity is to advance the education of the pupils in the School by the provision or assisting in the provision of facilities for education at the School, particularly religious education, not normally provided by the local education authority as the Trustees shall with the advice of the Head teacher and the Governors of the School decide.
## **IJPS Trust Fund legal status**
The charity was founded in 1993. It is a registered charity (number 1028006). To enable us to achieve our constitutional aims, we have the normal range of charitable powers, including the ability to hold bank accounts, borrow money, support associated activities, employ staff, pay for work, enter into contracts etc.
## **Recruitment and appointment of new trustees**
General meetings are held annually where management committee members (trustees) are elected by the members of the board, made up mainly by governors of the organisation. Membership is open to anyone interested in advancing the aims and objectives of the organisation and renewed annually. The management committee also has the power to co-opt new trustees if there are vacancies on the board.
## **Organisational structure**
The board of trustees (hereinafter referred to as "the board") is the governing body of the organisation and meets approximately 3 times a year. The overall direction of the School is led by the School's Board of Governors (of which the Trustees are members). The day to day responsibility for the operation of the school is delegated to the head teacher.
## **Induction and training of new trustees**
New trustees to the Board are given information about the organisation, their roles and responsibilities as a trustee and invited to attend the Centre to find out more about its work. Trustees are offered training during the course of their tenure.
## **Risk management**
The Trustees keep all major risks to the organisation under review. The risk management strategy comprises: (a) An annual review of the risks the charity may face
(b) The establishment of systems and procedures to mitigate those risks
The Trustees identified that there was one main risk for the organisation in this year:
(1) the declining pupil population and consequent reduction in voluntary income.
In order to mitigate these risks, the organisation has:
(a) Continued to approach parents who do not contribute voluntary payments with a request to secure support.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1028006
## **Principal address**
Wohl Ilford Jewish Primary School Forest Road Ilford Essex IG6 3HB
## **Trustees**
H E Kemp Trustee M J Martin Trustee D J Wynne Trustee
Page 2
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **REPORT OF THE TRUSTEES for the year ended 31 March 2021**
**REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
Approved by order of the board of trustees on 7 December 2021 and signed on its behalf by:
M J Martin - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **Independent examiner's report to the trustees of Ilford Jewish Primary School Trust Fund**
I report to the charity trustees on my examination of the accounts of Ilford Jewish Primary School Trust Fund (the Trust) for the year ended 31 March 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**
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.
Mr Thurairatnam Sudarshan FCCA Raffingers LLP Chartered Certified Accountants 19-20 Bourne Court Southend Road Woodford Green Essex IG8 8HD
7 December 2021
Page 4
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **for the year ended 31 March 2021**
|2021
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
78,112
Investment income
2
7
**Total**
78,119
**EXPENDITURE ON**
**Charitable activities**
Provision of education
80,292
**NET INCOME/(EXPENDITURE)**
(2,173)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
10,136
**TOTAL FUNDS CARRIED FORWARD**
7,963|2020
Total
funds
£
105,397
49
105,446
152,244
(46,798)
56,934
10,136|
|---|---|
The notes form part of these financial statements
Page 5
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **BALANCE SHEET**
## **31 March 2021**
|2021
Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
4
1,717
**CURRENT ASSETS**
Debtors
5
3,664
Cash at bank
6
2,582
6,246
**CREDITORS**
Amounts falling due within one year
7
-
**NET CURRENT ASSETS**
6,246
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
7,963
**NET ASSETS**
7,963
**FUNDS**
9
Unrestricted funds
7,963
**TOTAL FUNDS**
7,963|2020
Total
funds
£
2,562
4,345
3,399
7,744
(170)
7,574
10,136
10,136
10,136
10,136|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 7 December 2021 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 6
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 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.
The accounts have been prepared on the going concern basis as the trustees are of the opinion that the charity will meet its liabilities as and when due.
## **Exemption from preparing cash flow statement**
The financial statements do not include a cash flow statement because the charitable company, as a small reporting entity, is exempt from the requirements to prepare such a statement under Charities SORP (FRS 102) Update Bulletin 1, Module 14.
## **Critical accounting judgements and key sources of estimation uncertainty**
Preparation of the accounts requires the trustees and management to make significant judgements and estimates. The items in the accounts where these judgements and estimates have been made include: - estimating the useful economic life of tangible fixed assets.
- allocation of support costs across charitable activities.
## **Debtors**
Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to be present value of the future cash receipt where such discounting is material.
## **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.
## **Charitable activities**
Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance
## **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.
continued...
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**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
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.
## **Cash at bank and in hand**
Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months form the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits.
## **Creditors and provision**
Creditors and provision are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provision are recognised at the moment the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payments where such discounting is material.
## **Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**||||
|---|---|---|---|
||2021||2020|
||£||£|
|Interest received||7|49|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
continued...
Page 8
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **4. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020 and 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020
**5.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income
**6.**
**CASH AT BANK AND IN HAND**
Bank account no. 2
Total
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 8)
**8.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts||Computer
equipment
£
6,831
4,269
845
5,114
1,717
2,562
2021
2020
£
£
3,664
4,345
2021
2020
Total
Total
funds
funds
£
£
2,582
3,399
2,582
3,399
2021
2020
£
£
-
170
2021
2020
£
£
-
170|
|---|---|---|
||||
||||
continued...
Page 9
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **9. MOVEMENT IN FUNDS**
|At 1.4.20
£
**Unrestricted funds**
General fund
10,136
**TOTAL FUNDS**
10,136
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
78,119
**TOTAL FUNDS**
78,119
**Comparatives for movement in funds**
At 1.4.19
£
**Unrestricted funds**
General fund
56,934
**TOTAL FUNDS**
56,934
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
105,446
**TOTAL FUNDS**
105,446|Net
movement
At
in funds
31.3.21
£
£
(2,173)
7,963
(2,173)
7,963
Resources
Movement
expended
in funds
£
£
(80,292)
(2,173)
(80,292)
(2,173)
Net
movement
At
in funds
31.3.20
£
£
(46,798)
10,136
(46,798)
10,136
Resources
Movement
expended
in funds
£
£
(152,244)
(46,798)
(152,244)
(46,798)|
|---|---|
continued...
Page 10
**ILFORD JEWISH PRIMARY SCHOOL TRUST FUND**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2021**
## **9. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.19|in funds|31.3.21|
||£|£|£|
|**Unrestricted funds**||||
|General fund|56,934|(48,971)|7,963|
|**TOTAL FUNDS**|56,934|(48,971)|7,963|
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|183,565|(232,536)|(48,971)|
|**TOTAL FUNDS**|183,565|(232,536)|(48,971)|
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2021.
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