Company registered number.. 03239099 Charity number.. 1058013 HARROW JEWISH DAY SCHOOL TRUST (A company limited by guarantee and registered charity) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) CONTENTS Page Reference and admlnlytratlve detalls of the Charlty. tts Trustees and advlsers Trustees, report Statement of financlal actIvIeS Balance sheet Nolos to the financlal ststgrnents 7-18
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARifY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 29 AUGUST 2021 Trustees Philip Gershuny. Chair Brian Leaver Jane Leaver Doreen Samuels Paul Levy, Treasurer Company reglstered number 03239099 Charfty reglstgred number 1058013 Reglstered offlce Easlcote Point Cuckoo Hill Pinner Middlesex HA5 2BB Accountant MHA Maelntyre Huds Chartered Accounlanls 910 The Crescent Colcbesler Business Park Colche$ler Essex C04 9YQ Page 1
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) TRUSTEES. REPORT FOR THE YEAR ENDED 29 AUGUST 2021 The Trustees present their annual rep)rt together vmlh the financial sl*emenls of Ihe Charity for the year ended 29 August 2021. The Trustees confirni that the Annual Report and financial statements of the company comply with the current statutory iequiremenls. the requirements of the company's goveming document and the provisions of the Stslemenl of Recommended Practice ISORPI, applicable lo charities preparing their accounts in 8ccord8nce with the Financial Reporting Standard 8ppIic8ble in the UK and Republic of Ireland IFRS 1021. Since the Charity qualifies as small under section 382, the strategic report required of medium and large companies under The Companies Act 2006 Islralegic Report and Direclorfs Report) Regulations 2013 is not required. Purpose, obj•cts and activllles The Charity's purpose and rts principal activity, as pèr its goveming documènt, is to support Moriah Jewish Day School lor any other educational institution sel up or reeeiving sUpt from the Foundation Body) and also lo advance the Jewish reli9ion, lo relieve poverty or any other charitable purpose beneficial to the community as the Trustees shall from lime lo time determine. Following the dosure of the MoTioh Jevn'sh Day School on the sile owned by the Charity the Trustees have sought another charitable use for the site beneficial to the community and thus consistent wlh the allernalive principal purpose of the Charity. After carefijl consideration the Trustees decided to make the sile available on favourable terms for use by a Jewish educational charity providing education for children wlh special educational needs. The Gesher Trust. a registered charity. By making the school and the sile available to another charity a rent free basis for 10 years the Charity is assisting in the educabon of ehildren %wth special edueational needs which is of public benefit. When planning the activrties for the year, the Trustees have conSided the Charity Commission's guidance on public benefit. All activities are undertaken in relation to the purposes of the Charity as per ils goveming document. Achlevèments and perforniance The Trustees negolialed and entered into an agement for lease wlh the Gesher Trust I'Gesher°I for a term 01 10 years ending on 31 August 2031 to enable Gesher School to occupy the sile lo teach primary and secondary school age children with special educational needs. Gesher will pay no rent but will be reSPDnsible for the maintenance and upkeep of the school. During the course of the year the Trustees allowed Gesher and ils contractors earfy 8cce55 to the site on licence to enable it to carry out certain modification5 to the school buildings. plant and equipment required before the opening ol the Gesher school for the 2021 Autumn term. Plans and drawings were submitted lo the Trustees in advance for approval. Financial review Goin concem After making appropriate enquiries. the tnjstees have a reasonable expectation that the Charity has adeqLJate resour$ to continue in operational existence for the foreseeable fvture. For this reason they continue to adopt the going concem basi5 in preparing the financial statements. Further detsils regarding the adoption of the going concem basis can be found in the Accounting Policies. Page 2
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 29 AUGUST 2021 Fin During the year to 29 August 2021, the Charity received income of £2,364 12020.. £68,028). Income was derived from donations. Total expenditure was £39.48612020." £115.126}. Gains on the revaluation of propety were £Nil12020.' £1,852,988). The nel loss for the period was therefore £37.12212020'. gain of £1,805,8901. As at the 29 August 2021. the Charity hel¢J unrestn.cted general reserves of £5.901,510 12020". £5.938,6321, including designated reserves of £5.814.048 12020." £5,850.0001. As al the year-end, the Charity also held restricted reserves of £10,53412020.' £10,534). Followng a review of the hislonc expenditure by the Charity, and the payments made lo the Moriah Jewish Day School in conjunction with ils transition to the Jewish Community Academy Trust in 2018119, the Trustees believe that the restricted fund for capitsl expenditure as 8129th August 2019 was overstsled by £40,485. Upon assessment, the Trustees believe that these $tricted funds were ftjlly ulilised in line with the associated reslriclions and the restricted fund held as al 291h August 2019 lotalled £10,534. As a result, the prior year balan$ have been restated. Further detail$ are provided in Note 13 to the financial ststernenls. The Charity will maintain its cash reserves in a currenl account lo meet ils operational needs until the transrtion lo an allernalive user of the site is completed and ils fvlure funding requirements are more certain. The majority of the Trust's reserves were liquidated and paid to JCAT in connection with the transfer of Moriah School to JCAT on condrtion that the funds would only be used for the support of the Moriah school. In view of the consequent depletion of reserves the Trust sought a new tenant for the school buildings who would be capable of paying lor and maintaining the inlemal and exiernal struclure and fabric of the land and buildings. Please see 'Acheivemenls and perfomance. above. Structure. govemance and management min The Trust is registered with the Charity Commission uTrJer the number 1058013. The Trust is a eompany limited by guarantee and has no share capital. 11 was incorporated on 19 August 1996 and the goveming instrument is ils Memorandum and Articles of Association. kin The charity is govemed by the board of trustees also retain day lo day control of the charty due lo ils sm811 size. inin Currentty there are 5 tnjstees. When the need arises, Truslees are generally sought from personal contacts and connections Wrth the Charity wth the aim of maintaining a certain skill set wlhin the board lo ensure effective govemance. The trustees have a duty to identify and review the risks lo which the charity is exposed and to ensure appropriate controls are In place to provide Teasonable assurance against fraud and error. The Iruslees have a55essed the major risks lo which the trust is exposed. and are satisfied that systems are in place lo miligale exposure lo these risks. Page 3
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 29 AUGUST 2021 The Charity will continue to monitor the use of the sile and buildings by Gesher and satisfy rtself that the use of the site remains consislenl with the Charity's purpKJse and objectives. In preparing this report, the trustees have taken advantage of Ihe Small mpanIeS exemption$ within Part 15 of the Companies Act 2006. Approved by order of the members of the board of Trustees ar s19rd on their behalf by.. -x Phlllp Gernhuny Chair Dale.. 1710S12022 Page 4
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 29 AUGUST 2021 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Total funds 2020 Note Income from: Donations 2.364 2,364 68,028 Total Incom• Expendlture on: Charitable acty'vilies 2,364 2,364 68,028 39,486 39,486 115, 126 Total expendlture 39.486 39,486 115. 126 Net movement In funds bgforo other recognlsod gaSns Other rècognl$•d galns: Gains on revaluation of fixed assets 137.1221 137,1221 (47,098) 1,852.988 Net movement In funds Reconclllallon of funds.. Totsl funds brought forward Ireststed) Net movement in funds 137.1221 137,1221 1,805,890 5,938,632 137.122) 10.534 $,949,166 137,1221 4, 143,276 1,805,890 Totsl funds carrled foNArd 5,901,510 10,534 5,912,IH4 5,949, 166 The Stslement of finan81 activities indudes all gains ar losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 10 18 fomi part of these financial slatements. Page 5
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) REGISTERED NUMBER. 03239099 BALANCE SHEET AS AT 29 AUGUST 2021 As reslaled 2020 2021 Note Flxgd a$$g1$ Tangible assets Current assets 5.814,048 5,850,000 Debtors Cash al bank and in hand 1, 108 102,408 101.096 101,096 103,516 Creditors.. amount¥ falling due within one year {3.1001 (4,350) Net current assets 97,996 99.166 Total net assets 6,912,044 5,949, 766 Charlty funds Reslricied funds Unrestricted fiJnds 10 10 10,634 6.901,510 10.534 5,938, 632 Total funds 5,912,044 5,949, 766 The Charity was ents'tled lo exempts'on from audrt under section 477 of the Companies Ad 2006. The members have not Tequired the company to obtain an audit for the year in que5b.on in aeeordance with section 476 of Companies Act 2006. The Trustees acknOedge their responsibilities for complying the requirements ol the Act wth resp8ct lo aCunty'ng records and preparatson of finanryal slalements. The financial slalements have been prepared in accordan with the provisions applicable to enlilies subject lo the small companies regime. The financial slalemenls were approved and authorised for issue by the Trustees on 1710512022 and signed on their behalf by". Philip Ger5h Chair The notes on pages 7 to 18 fomi part of these financial statements. Page 6
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 General Infomiatlon Harrow Jwsh Day School Trust is a private company limited by guarantee and is registered with the Charity Commission (Charity Registered Number.. 10580131 and Registrar of Companies (Company Registrats'on Number.. 03239099} in EnglarKI and Wa. In the event of the Charity king wound up, the liability in respect of the guarantee is limited lo £1 wr member of the Charity. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity's operations and pnncipal activities are detailed in the Trustees, Report. Accountlng pollcles 2.1 8asls of preparatlon of flnanclal statements The financial $lalements have l)een prepared in accordan wlh the Charities SORP IFRS 1021- Accounting and Reporting ty Charitses". Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Harrow Jewsh Day Schcd Trust meets the definitson of a public benefit entity under FRS 102. Asseis and liabilities are initially recognised al historical cost or Iransaclion value unless otherwise slated in the relevant accounting policy. The financial slalemenls are prepared on a gling concem basis under the historical cost convention. modified lo include certain items at fair value. The financial $latemenls are presented in sterfing which is the functional currency of the Charity and rounded lo the nearest pound. The signifieanl accounting polieies applied in the pTeparalion of these finaneial slalemenls are gel out below. These policies have been consislenlly applied lo all yea¥s presented unless olhetwise staled. 2.2 Golng concern The financial stslemenls have been prepared on a going eoncem basis 89 the Trustees believe that no material uncertainties exist. The Trustees have consided the level of funds held and the expecied level of income and expenditure for 12 months from aulhorising these financial st*ements. including any impact from Covid-19. The budgeted income and expenditure is suffiaent with the level of reserves for the Charity to be able to conb'nue as a going concern. Page 7
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Accountlng poll¢l8s Iconllnued 2.3 Income All income is recognised once the Charity has entillemenl to the income. il is probable that the income will be received and the amount of InMe receivable can be measured reliably. For donations to be recognised the Charity will have been notified of the amounts and the settlement dale in writing. 11 there are conditions attached to the donation and this requires 8 level of performance before entitlement can be obtsine(l then income is deferd until those conditions are fully mel or the fulfilmenl of those condthns is within the control of the Charity and il is probably that they will be fulfilled. Grant income is reo)gnised al fair value when the Charity has enliuemenl after any pèrformance conditions have been met. il is probable th81 the income will be received and the amount can be measured reliably. If enlitlemenl is not mel then these amounts afe deferred. Income lax reverable in relation to donatic5 received under Gift Aid or deeds of covenant is rognIsed al the lime of the donation. 2.4 Expendlturn Expenditure is recognised once there is a legal or constructive obligation lo transfer economic benefit lo a third paty, il is probable that a transfer of economic benefits will be required in Settlement and the amount of the obligation can be measured reliably. Expenditure 1$ classified by activity. The costs of eaeh activity are made up of the lot81 of direct costs and shared costs. including support u)sls involved in undertaking each aclivily. Direct costs attributable lo a single activity are allocated directly lo that activity. Share(I costs which contribute lo more than one activity and support costs which are not attributable lo a single activity are apportioned between those activrties on a basis con$i$lenl with the use of resources. Expenditure on chanlable activities is incurTed on directly undertaking the activities which further the Chanty's objectives, as well as any assoaated support C4)sts. Grants payable are charged in the year vthen the offer is made except in those cases where the offer is conditional. such grants being recognised as expenditure when the conditions attaching are fulfilled. All expenditure is indusive of irnecoverable VAT. 2.5 Taxatlon The Charty is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore Il meets the definrtion of a charitable company for UK corporation lax purposès. Accordingly, the Charrty is potentially exempl from laxalion in Spect of income or capital gains received wthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains 1992. to the extent Ihat such income or gains are applied exclusively to charitable purposes. Page 8
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Accountlng poll¢l8s Iconllnued 2.6 Tanglble fixed assets and depreclatlon Tangible fixed assets cosling £1000 or more are CatalISed and recognised vthen future economic benefits are probable and the cost or value of the assel can be measured reliably. Fixtures & Fittings are initially recognised al c05t. After recognition, under the cost rnodèl, tangible fixed assets are measured at cost less 8ecumulaled depreciation and any accumulated imp8iiment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Freehold properties are carried al current year value al fair value at the dale of the revaluatlon less any subsequent aceumulaled depreaabon and subsequent ae¢umulated impairment losses. Revaluations are undertaken with svlficient regularity lo ensure the carrying amount does not differ materially from that which would be detemiined using fair value al the balance sheet date. Fair values are determineil by marked baseil eVidere. Rèvaluation gains or losses are recognised In other Comprehensive income unless losses exceed the previously recognised gains or reflect a cjear cLJnsumptson of economic benefits, in which case the excess losses are recognised in profit or loss. Depreciats'on is charged so as lo allocate the cost of tangible fixed as$el$ less their residual valuo over their e¥bmaled useful lives, using the 3traighl-line method. Depreciation is provided on the followng bases.. Freehold property Fixtures and fittings 50 years slraighl-line 4 years slraighl-line 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount paid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand includes cash and short-lem) highly liquid investments wlh a short maturity of three months or less from the date of acquisrtion or OFening of the deposit or similar account. 2.9 Liabilitles and provisions Liabilities a recognisetl when there is an obligation at the Balance sheet dale as a result of a past event, il is probable that a transfer of economic benefit will be qUired in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount thal the Charity anb"apates il wll pay lo settle the debt or the amount il has received a5 advanced payments for the goods OT services It musl provide. Page 9
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Accountlng poll¢l8s Iconllnued 2.10 Flnanclal Instruments The Charity only holds basic Financial Inslrumenls. The financial assets and finanaal liabilities of the Charity are as follows.. Debtors - trade and other debtors (including accwed incomel are basic financial instrumènts and aredebl Instruments measured at amorts.sed cost as detailed In Notè 8. Prepayments are not financial inslrumenls. Cash al bank- is dassrfied as a basic financial inslrumenl and is measured al face valu8. Liabilities - trade credilots, accruals and other creditors will be d8ssified as financial inglrumenls, and are measured 81 amortised cost as detailed in Note 9. Taxation and social security are not included in the financial inslfumenls disdosure. Defefred income is not deemed lo be 8 financial liability. as in the cash setuement has already taken place and there is simply an obligation lo deliver charrtable services ralher Ihan cash ¢y anolher financial instrument. 2.11 Fund accountlng General lunds are unrestricted lunds which are available for use al the discretion of the Trustees in furtherance of the general objecb'ves of the Charity aNJ %thich have not been designated for other purposes. Designated funds comprise unreslrieted frN*ds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial slatemenls. Restricted funds are funds which are to be used in a¢cordan¢e with specific re$lri¢lions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and adrninislering such funds are charged against the specific fund. The aim and use of each restricted furMS is sel out in the notes to the finanoal slalements. Page 10
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Income from donatlons and legacles Unrestricted funds 2021 Total funds 2021 Total funds 2020 Donatlons Parental voluntary contributions Other donations 2.364 2,364 62,262 5, 766 Total 2021 2,364 2,364 68,028 Tol812020 68.028 68.028 In 2020, all parentsl voluntsry contributions and other donations were all¢xated lo unre5trided funds. Analy81s of grants Grants to Institutlons 2021 Total fund$ 2021 To181 lunds 2020 Jewish Communty ArnY Trust 56,000 Total 2020 56,000 56,000 Page 11
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Analysls of expendlture by actlvltles Grant funding of actlvltles 2021 Support costs 2021 Total funds 2021 Total funds 2020 CharItae activities 39,486 39,486 115, 126 Tol812020 56.C 59.126 115.126 In 2020, all expenditure was all¢xated lo unrestricted fvnds. Analysls ofsupport costs Total funds 2021 Total fvnds 2020 Actlvltles 2021 Depreciation Govemanee costs Legal and professional Bookkeeping Insurance 35,952 2,100 35,952 2.100 43, 736 3,300 10, 740 1,350 1.000 434 1.000 434 39,486 39,486 59,126 Govemance costs recognised in the year indude the accountants fee of £2,100 12020. £Nill, independent examiners fee of £Nil 12020". £3.0001 and the under-accrual of the prior year independent examiners fee of £Nil12020.' £3001. Trustees. remuneration and expenses The Charity has no employees. The Trustees are considered to be the Key Management Personnel of the Charity. During the year, no Trustees received any remuneration or other benefits (2020- £NIL). During the year ended 29 August 2021. no Trustee expenses have been inCUrd (2020- £NIU. Page 12
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Tanglble flxed assets Freehold Fixtures and property fittings Total Cost or valuatlon AI 30 August 2020 5.850.000 6.296 S.8.296 At 29 August 2021 6.8SO.000 6.296 6.866.296 Depreclatlon AI 30 August 2020 Charge for the year 6.296 6.296 35,952 35,952 Al 29 August 2021 3S.952 6.296 42.248 Nèt book value Al 29 August 2021 6.814.048 6.814.048 Al 29 Augusl 2020 5.850.000 5,850.000 Freehold land and buildings were professionally valLwI at August 2020 by Carter Jona$ LLP, on behalf of the Harrow Jewish Day School Trust. The Trustees review this valuatn annually wth any changes in fair value being rec(>anised in the year. The Charity has adopted a policy of revaluation for Freehold propety tangible fixed assets. Had these assets been measured al historic cost, the carrying values would have been as follows.. 2021 2020 Freehold property 3,961,060 3,997,012 Page 13
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 Debto 2021 2020 Du• wlthln one year Prepayments and accrued income 1, 108 1, 708 Credltors: Amounts falllng due wlthln one year 2021 202Q Accruals 3,100 4,350 Page 14
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 10. Statement of funds ststement of funds- current year Balance at 30 August 2020 lrnstatedl Balance at 29 August 2021 Income ExndIture Unrestrfcttd funds Deslgnated funds Fixed assets fiJnd Revaluation reserye 3,997,012 1.852.988 135,9521 3,961.060 1.852.988 5,850.000 136.9621 5,814.048 Gènèral fund8 General Funds 88.632 2.364 {3.S341 87.462 Total Unrostrlctod funds 6.938.632 2.364 139.4861 6,901.S10 Restrlcted funds Capital expenditure 10.534 10.$34 Totsl offunds 5,949,166 2.364 {39,4881 5,912,044 Page 15
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 10. Statement of lunds Icontlnuedl Statement of funds - prlor year salan at 30 August 2019 (Trslaled) Balance 81 29 August Gainsl 2020 (Losses) (reslaled) Income Expenditu Unrestrfcttd funds Deslgnated funds Fixed assets fiJnd Revaluation reserye 4,040,748 (43, 736) 3,997,012 1,852,988 1,852,988 4.040.748 143,7361 1,852,988 5,850,000 Gènèral fund8 General Funds 91,994 68,028 {71,390) 88,632 Total Unrostrlctod funds 4.132.742 68.028 1115,1261 1.852.988 5,938.632 Restrlcled funds Capital expenditure 10.534 70,534 Totsl offunds 4, 143,276 68,028 (115, 126) 1,852,988 5,949, 166 Fixed asset fund - The Trustees have created a designated ftjnd to hold the nel book value of fixed assets seperalely from general funds available for use. This ftjnd excludes the impact of the revaluation of Freehold propety. which has been recognised as a separate fund, as required under FRS 102 SORP 2015. Capital expenditure - This fund represents income received has ken restricted to projects which are Capital in nature. Revaluation reserve The revaluation reserve represents Ihe cumulative effed of revaluations of Freehold property, where a policy of revaluab.on has been adopted. Page 16
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 11. Analysls of net assets between funds Analysls of net assets belween funds - current year Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Current 85sets Creditors due wthin one year 5,814.048 90,562 13.1001 5,814,048 101,096 13,1001 10,534 Total 5,901,510 10,534 5,912,044 Analysls of net assets betrween lunds- prlor year Unrgsliicted funds 2020 (ffts18ted) R8slriGted funds 2020 (Stared) Total funds 2020 (Trsl8ledJ Tangible fixed assets Current assets Creditors due within one year 5,850.000 92,982 14.3501 5,850,000 103,576 (4,3X)) 10,534 Total 5,938,632 10,534 5.949, 166 12. Related paty iransactlons The Charity has not entered into any related party transaction during the year12020.' £Nill, nor are there any outstanding balances owng belween Telaled partie5 and the Chanty at 29 August 2021 12020.. £Nill. Page 17
HARROW JEWISH DAY SCHOOL TRUST IA cornpany limited by guarantee and registered charity) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 AUGUST 2021 13. Prlor year restatement Followng a review of the historic expendilure by the Charity. and the payments made to the Moriah Jewish Day School in conjunction wth its transiti'on to the Jewsh Community Academy Trust, the Trustees believe that the reslnded fijnd for caprtal expenditure as at 29th August 2019 was overstated by £40,485. Upon assessment, the Trustees believe that these reslricled funds were fully ulilised in line wrth the associated restrictions and the reslncted lund held as al 29th August 2019 lolalled £10,534. In order lo correct this error. the prior year balances have been restated as follows.. - The Restricted funds as at 30th August 2019 have been reduced from £51,019 10 £10,534. The Unrestricted funds as at 30th August 2019 have been increased from £51.509 to £91,994. There has been no change in the total fijnds held at 30th August 2019. Page 18