Comp8ny Registration No.. 3446070 Charity Registration No.. 1066260 TIFERES HIGH SCHOOL LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 TIFERES HIGH SCHOOL LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 CONTENTS Pa Trustees, annual report Independent examinerfs report statement of financial actiwlies Balance sheet Slalemenl of cash flows Notes to the financial statements 8-13 TIFERES HIGH SCHOOL LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 30 APRIL 2021 STATEMENT OF TRUSTEES. RESPONSIBILITIES Company18w requires the Iruslees, who are also the directors for the purposes of company law, to prepare rinancial statements for each financial year which give a true and fair view of the state of affairs of the company and of the surplus ordeficil of the companyfor that period. In preparing those financial slalemenls. the d1￿ctOrS are required to.. Select suitable accounting policies and then apply them ¢onsistenlty', make judgements and estimates that are reasonable and prudent- prepare the financial statements on the goin9 concem basis unless il is inappropriate to presume that the company wll continue in business. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position ol the Company and lo enable them to ensure that the Financial Statements comply with the Companies A¢1 2006. They are also responsible for safeguarding the asseis of the Company and hence for taking reasonable steps for the prevenlir)n and detection of fraud and other irregularities. The Directors, Report is prepared in accordance wth the special provisions relating lo small Companies wthin Part 15 of the Companies Act 2006. PRINCIPAL ACTIVITIES The charity was fomied lo run a girls high school in accordance wth Orthodox Jewsh requirements. LEGALAND ADMINISTRATIVE INFORMATION Nature of goveming document Memorandum and Articles ofAssocialion pursuanlto the Companie5 Act 2006 Conslilulion of charity Company registered under the Companies Act 2006 limited by guarantee. Charity registration number 1066260 Company regislralion number 3446070 Trustees D Hersh G Hager N J8ffe E Pearlman (appointed 8th June 20211 (appointed 8th June 20211 Page 1 TIFERES HIGH SCHOOL LIMITED TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 30 APRIL 2021 Icontinued.... Method of appointment or election of Iruslees The first Iruslees are those named on Ihefom)ation of the company At the first annual general meeting, 811 the trustees retire and 81 e8ch subsequent annual general meeting a trustee retires. If the vacancy caused by retirement is not filled. then the retiring trustee5 are reappointed unless the members in the general meeting resolve not to fill the vacancy or il the resolution to reappoint is pul lo the meeting and lost. New trustees may be appointed by the members in general meeting. New trLJStees may also be appointed by the trustees lo hold office until the next annual gener81 meoling. Add￿$$ of principal or ￿gIStered office 233a Golders Green Road, London NW119ES Bankers Nat West Bank Accountants Goldw"ns, 75 Maygrove Road, West Hampslead, London. NW6 2EG Details of specific operating restrictions There are no relevant restrictions imposed by governing document. NARRATIVE INFORMATION Explanation of objects by reference document li}The advancement oforthodox Jewsh lo goveming religious education and of education generally, and lill the promotion of the Orthodox Jewish religion. Summary of policies adopted lo further objects The charily has opened a Jewish Gids High School General progress The girls, school had a successful start with a good number of applications and evenluaSly 8¢¢eplances. The charity's results indicate a pattern not uncommon with that estsblished for the opening years of other such organisations. Page 2 TIFERES HIGH SCHOOL LIMITED TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 30 APRIL 2021 Icontinued...... Achievements during the year High standard of education achieved in the school. Firmly established in area. Description of w8y charity is organised The charity is run solely by the trustees. Extent of dependence on unpaid volunteers The charity does not depend on unpaid volunteer5. Application of funds and significance of material movements in Slalemenl of Financial Activities Most of the funds of the charity were used in running the school. Purposes for thich assets held and value rf materially different from a￿O￿nts The assets were acquired for use in the school. Financial position al b81ance sheet date In context of future plans ané ¢ommilmenls The financial position of the charity at the balance sheet dale is satisfactory and the charity's reserve policy of mainlaining sufficient ￿serveS for its day to day a¢liMlies has been applied. Exlenl of dependence on support of key donors The charity is very dependent on the support of key donors. Public B•n8fit The princip81 activities of the charity during the year continued to be lo run a gids high school in accordance with Orthodox Jewish requirements. The Iruslees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 17 Charities Act 2011. The trustees believe that the charity achieves a public benefit by providing these ServI￿S as detailed throughout this report. Reserves poll¢y The charity's reserve policy is lo maintsin sufficient reserves lo enable operating activities lo be maintained, taking account of potential risks that may arise from b'me to ts'me. This policy is reviewecj annually by the Trustees. Risk management The Iruslees have assessed the major risks to which the charity is exposed. In particular, they have reviewed the bank overdr8ft arrangements and the ability ol the charity lo meet its future commitments. The trustees are satlsfied that systems are in pla¢e to mitigate such risks. Approved by the Board of Trustees on 1110412022. and signed on its behalf by.. D Hersh- Trustee Page 3 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TIFERES HIGH SCHOOL LIMITED FOR THE YEAR ENDED 30 APRIL 2021 I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2021. Responsibilities and basss of report As the ¢harty's Iruslees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in 8ccordan¢e with the requirements of the Companies Act 20061'lhe 2006 Act'l. Hawng satisfied myself that the accDunts of the Company are not required lo 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 8c¢ounts as ¢8rried OLJt under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250,000, I confirm that l am qu81ified to undertake the examination because l am a member of the ICAEW. which is one of the listed bodies. I have completed my examination. l confirm that no matters have come to Tny attention in connection with the examination giving me cause lo beli8ve.' 1. accounb'ng 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 Ihose records., or 3. the accounts do nolcornply wth the 8¢counling reqLJirements of section 396 of the 2006 Act otherthan any requirement that the ac¢ounts 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 oflhe Statement of Recommended Practice foraccounling and reporting by ¢harities applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no ¢on¢erns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. Anthony Epton BA FCA Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG TA FCIE Date.. 1110412022 Page 4 TIFERES HIGH SCHOOL LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDEO 30 APRIL 2021 2021 Total Funds 2020 Total Funds Unmtrfet•d Fund• Note Incomg fr9rn: Donations Charitable a¢tNities HMRC-JRS Grants Other incorne 195,717 384,625 159,362 195.717 384.626 159,362 1.046 313,838 397,941 1,016 Total Incom• 740,760 740.750 712.795 Ex￿n￿ltUr• on: Charitable activities 787.765 787,756 696,331 Total •xp•ndltur• 787,75 787,755 696,331 Net movement In funds 147.0051 {47,0051 16,464 R?conclllotlon of funds: Total funds brought lotward 64A94 64,394 47,930 Total funds carrled forword 17,389 64,394 All of th8 abov8 r8sults afy <5erived from continuing acts"vities. There were nts other re¢ognised gains or bsses other than Ih05e slated abovg. The attached notes form part of these financtal slatements. Page 5 TIFERES HIGH SCHOOL LTD BAL4NCE SHEET AS AT 30 APRIL 2021 2021 2020 Flxod Ass•ts: Tangible fixed assets 3,379 4.506 CurrentAs80ts: Debtors Cash at bank and In haThY 42,686 31,998 74.684 41.840 31.752 73.392 10 Creditor¥: Amounts falling duè withln ono Y￿r. 11 110,674) 113.5041 Net CurrentAsset8 64.010 59,888 Cr8ditors'. Amounts fallln9 due after morn than one year: 12 {50.IMOI Net Awt 17.389 64,394 Re8efve•.' Unrestricted- General funds 13 17.389 84.394 17.389 64.394 For the financial year ended 30 April 2021 the Company was elltrtl8d io exempts.on from audit under section 477 of th8 Compallie5 Act 2006 ￿lating to small ¢ompanies. D1￿CtorS, responsibilities". - The members have nol r&quir8d the company to obtain an a￿lt of its financial ststements for the year in question in accortfance with section 476., - The directors a¢kno￿edge their responsibilities for compl5fjllg wth the requirements of the Act respect to accounting r8cords and the preparatbn of financial statements. Approved by the Board of Trustee$ on . and signed on its behaff by.. D Harsh- Tru•t•• Company Registration No_. 3446070 The attach￿ notes form part of these fillancial Statements. Page S TIFERES HIGH SCHOOL LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2021 2021 2021 2020 2020 C•¥h flow8 from oporatjng a¢t1vltl￿. Net cash provided by I lused inl opeoling activities 14 18,598 Cash flows from Inve¥￿ng aCtlvlW￿. Salel Ipurchasel of fi'x8d assets 12.3961 Cash provldod by I (used In) Inva8tlng aetlvltlo8 12.3961 Chany In cash and gqulvalgnts In the yo#r 16.202 Cash and cash 8quivalents et the beginning ol the year 31.752 15.550 ¢￿h and ca#h oqulval•nts Atth• ènd ofth• y•ar 16 31,998 31.752 Page 7 TIFERES H￿H SCHOOL LTD NOTES TO THE FINANCLAL STATEMENTS FOR THE YEIR ENDED 30 APRIL 2021 1. Accountlng pollcSe8 al Bask8 of prsparatlon The financial statements have b88n prepared in accordance with Accounting and Reportin9 by Charities.. Statement of Re¢ommende¢ Practice applicable to charities preparing their accounls in 8¢cor¢an¢e with the Finanaal Reporting Stsndar¢ applicable in the UK and Republic of Ire18nd ICh8rities SORP FRS 1021, Companies Act 2006 and Charities Act 2011. Th8 charitable cornpany rneèts th6 definrtion of a public benefit entity under FRS 102. Assets and liabilities are initially recoonised at histOrie81 c05t or transaction value unle55 Othemse stated in the relevant aco)unling policy or note. b) Golng con¢em The trustees conS￿er that there a￿ no material uncertainties about the charity's ability to continue as a goin9 concem. The trustees do not cOnS￿er that there are any sources of estimation uncertainty al the reporting date that have a signrficant ask of causing a material adjustment to the carrying amount5 of assets and liabilities wthin the next r8POrting period. c} Incom• Income is recognised when the charity has Qnti￿ernent to the funds. any performance condit￿n$ attached to the incom8 hav8 b86n m8t, it is probable that the incotne will be receivad and that the amount can be measured reliably. d) Donatlon• of glfts, serylceB and facllltles Donations a￿ recognise¢ in the SOFA when received. Donat8d professional service5 and donat8d facililie5 are iecognised as income when the charity ha5 control over the itern or receiv8d the service, any conditions associated with th8 donation have been mel, the receipt of economic b&nefit from th8 US8 by the charty of the item is probable and that economic benefit can be measured reliably. In actordance with the Charities SORP IFRS 1021, volunteer time is not recognised so ￿fer lo ihe tiustees, annual report for more information about Iheir contribution. On receipt, don3ted grfb. professional services and donatecl facilrties are fe¢ognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economie benefit on the op8n fflark8t', a cortesponding arnounl is Ih8n recognised In expenditurg in the period of r8¢eipt •) Interest recalvab Interest on funds held on deposlt is included when r8ceivabl8 and the amount can be rn&asur8d reliably by the charity., this is normally upon rolification of th8 Interest paid or payable by the bank. Q Fund a¢cowiUng Unrestricted funds a￿ available to spend on activities that further any of the purposes ol charity. Restricted funds are donations which the donor has specrfied are lo be solely used for particu18r areas of the charity's work or for specific proj&cts being undertaken by the chadty. Page 8 TIFERES HIGH SCHOOL LTD NOTES TO THE FINANCLAL STATEMENTS FOR ThE YEAR ENDED 30 APRIL 2021 l. Aeetsun￿n9 pollcles Icontlnuedl gl Expends￿le and Irrecoverable VAT Expenditure is recognis8d once there is a legal or constructive obligation to make a payment lo a third party, it is probable that settlement will be required and the amount of the obligation can be measured r8liabty. Expenditure is classified under the followng 8¢tivity headings.. Costs of raising funds comprise ol trading costs and the costs 1Th￿rred by th8 charitab18 company in inducing third partie5 to make voluntary contributions to rt, as well as the cost of any activities with a fundraisirvJ purpose. Expenditure on charitable activilies Ind￿&S the costs of deliverir¥J servi￿$ undertaken io further th8 purposes of the Charity and their associated support costs. other expenditure represents those items not falling into any other hgading. Irre￿Verabl8 VAT 15 eharged a5 a cost against the actNityfor which the expenditure was incurred. h) Alloeation of Support co$ts Support cost5 are those functions that assist the work of th8 ch8rity but do not dir8dly uncsertake charitablts activities. Support costs include back Offi￿ costs, finanTr, personnel, payroll and governance costs which 5UPWrtthe charity and it5 and activities. i) 0￿rnting101Ses Rental tharges ar8 charg8d on 8 Straight line basis over the ietm ol the lease. 11 Tan9lbl? fixed a8S Item5 of equipment are capitslised where the purchase pri￿ exceeds £500. Depreciation is provided al rales calculated to write down the c051 of each asset to its estimated re$i¢ual value over ils expected useful life. Th8 depreciation rates in use are as follows". Fixtures and fittings 25Uk r￿ucIng balance methc k} Debtor• Trade 8nd oth8r dabtors arè r6coonised at the settlement amount due after any trade di$￿Unt offere