Company Registration No: 3446070 Charity Registration No: 1066260
TIFERES HIGH SCHOOL LIMITED
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
TIFERES HIGH SCHOOL LIMITED
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
| CONTENTS | Page |
|---|---|
| Trustees’ annual report | 1-3 |
| . | |
| Independent examiner's report | 4 |
| Statement offinancial activities | 5 |
| Balance sheet | 6 |
| Statement ofcash flows | 7 |
| Notestothefinancialstatements | 8-13 |
TIFERES HIGH SCHOOL LIMITED
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 30 APRIL 2025
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
Company law requires the trustees, who are also the directors for the purposes of company law, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and ofthe surplus or deficit of the company for that period. In preparing those financial statements, the directors are required to:
-
° Select suitable accounting policies and then apply them consistently;
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° make judgements and estimates that are reasonable and prudent;
° prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the Financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors’ Report is prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
PRINCIPAL ACTIVITIES
The charity was formed to run a girls’ high school in accordance with Orthodox Jewish requirements.
LEGAL AND ADMINISTRATIVE INFORMATION
Nature of governing document
Memorandum and Articles of Association pursuant to the Companies Act 2006
Constitution of charity
Company registered under the Companies Act 2006 limited by guarantee.
Charity registration number
1066260
Company registration number
3446070
Trustees
D Hersh
G Hager Elliot Segal (appointed 1 November 2024)
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TIFERES HIGH SCHOOL LIMITED
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 30 APRIL 2025
/Continued....
Method of appointment or election of trustees
;
Address of principal or registered office
Bankers
Independent Examiner
Details of specific operating restrictions
NARRATIVE INFORMATION
Explanation of objects by reference document
Summary of policies adopted to further objects
General progress
The first trustees are those named on the formation of the company At the first annual general meeting, all the trustees retire and at each subsequent annual general meeting a trustee retires. If the vacancy caused by retirement is not filled, then the retiring trustees are reappointed unless the members in the general meeting resolve not to fill the vacancy or if the resolution to reappoint is put to the meeting and lost. New trustees may be appointed by the members in general meeting. New trustees may also be appointed by the trustees to hold office until the next annual general meeting. 233a Golders Green Road, London NW11 9ES TSB Bank Anthony Epton Goldwins Ltd 75 Maygrove Road, West Hampstead, London, NW6 2EG There are no relevant restrictions imposed by governing document. (i) The advancement of Orthodox Jewish to governing religious education and of education generally, and (ii) the promotion of the Orthodox Jewish religion.
The charity has opened a Jewish Girls High School The girls’ school had a successful start with a good number of applications and eventually acceptances.
The charity’s results indicate a pattern not uncommon with that established for the opening years of other such organisations.
Page 2
05/02/2026. Approved by the Board of Trustees on ...............
05/02/2026
TIFERES HIGH SCHOOL LTD
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|||||||||
|---|---|---|---|---|---|---|---|
|STATEMENT|OF|FINANCIAL ACTIVITIES|(INCORPORATING|INCOME AND EXPENDITURE ACCOUNT)|
|FOR|THE|YEAR|ENDED|30|APRIL|2025|
|a|lt|thet|2|lh|ch|ee|
|2025|2024|
|Restricted|Unrestricted|Total|Total|
|Note|Funds|Funds|Funds|Funds|
|£|£|£|£|
|Income|from:|.|
|Donations|2|63,405|367,962|431,367|437,775|
|Charitable|activities|3|-|552,072|552,072|486,512|
|Other income|4|-|1,750|1,750|-|
|Sea|ee|
|Total|income|63,405|921,784|985,189|924,287|
|Expenditure|on:|
|Charitable|activities|4|63,405|818,232|881,637|898,361|
|ee|
|Total|expenditure|63,405|818,232|881,637|898,361|
|Net|income|for the|year|-|103,552|103,552|27,118|
|Transfers|between|funds|-|-|-|-|
|Net movement|in|funds|-|103,552|103,552|25,926|
|Reconciliation|of funds:|
|Total|funds|brought forward|-|(99,059)|(99,059)|(124,985)|
|ee|
|Total funds|carried forward|-|4,493|4,493|(99,059)|
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All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
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05/02/26 Approved by the Board of Trustees on ................. and signed on its behalf by:
TIFERES HIGH SCHOOL LTD
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 APRIL 2025
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Note|2025|2025|2024|2024|
|£|£|£|£|
|Cash|flows|from|operating|activities:|
|Net cash|provided|by|/ (used|in)|operating|activities|13|98,950|(7,201)|
|Cash|flows|from|investing|activities:|
|Sale/ (purchase)|of fixed|assets|(15,532)|-|
|Cash|provided|by|/ (used|in)|investing|activities|(15,532)|-|
|Change|in|cash|and|cash|equivalents|in|the year|83,418|(7,201)|
|Cash|and|cash|equivalents|at the|beginning|of the|year|8,250|15,451|
|Cash|and|cash|equivalents|at the|end|of the|year|14|91,668|8,250|
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Page 7
TIFERES HIGH SCHOOL LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
- Accounting policies a) Basis of preparation
The financial statements have been prepared in accordance with 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 (Charities SORP FRS 102), Companies Act 2006 and Charities Act 2011.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
- b) Going concern
The trustees are aware of the charity's reserve position. To ensure there are no material uncertainties regarding the charity's ability to continue as a going concern, management will regularly assess the charity's activities and cash flow, with findings reported to the trustees. The trustees believe this ongoing monitoring will adequately address any risks that could lead to material adjustments to the carrying amounts of assets and liabilities in the next reporting period.
c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
d) Donations of gifts, services and facilities
Donations are recognised in the SoFA when received.
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised 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 economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
- e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
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TIFERES HIGH SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 pIaSala ala a
1. Accounting policies (continued)
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g) Expenditure and irrecoverable VAT
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Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
e Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
e Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs. e Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities.
i) Operating leases Rental charges are charged on a straight line basis over the term of the lease.
j) Tangible fixed assets Items of equipment are capitalised where the purchase price exceeds £500. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows: Fixtures and fittings 25% reducing balance method
k) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
n) 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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TIFERES HIGH SCHOOL LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 eeeee _
2 Income from donations
Donations
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|||||
|---|---|---|---|
|2025|2024|
|Restricted|Unrestricted|Total|Total|
|Funds|Funds|Funds|Funds|
|£|£|£|£|
|63,405|367,962|431,367|382,775|
|63,405|367,962|431,367|382,775|
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3. Income from charitable activities
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|||||||||
|---|---|---|---|---|---|---|---|
|Income|from|charitable|activities|,|
|2025|2024|
|Restricted|Unrestricted|Total|Total|
|Funds|Funds|Funds|Funds|
|£|£|£|£|
|Parental|contributions|-|429,027|429,027|368,841|
|Government|Grants|-|123,045|123,045|117,671|
|-|552,072|552,072|486,512|
|Analysis|of|expenditure|
|Charitable|Governance|2025|2024|
|Activities|costs|Total|Total|
|£|£|£|£|
|Wages|&|Salaries|463,090|-|463,090|505,153|
|Books|&|Other Supplies|107,211|-|107,211|94,169|
|Rent|83,542|-|83,542|93,833|
|Independent|Examination|-|5,808|5,808|3,840|
|Accountancy|fee|under|provided|-|1,968|1,968|-|
|Donations|14,785|-|14,785|34,407|
|Depreciation|4,447|-|4,447|752|
|Other Charitable|Activities|200,786|-|200,786|166,207|
|873,861|7,776|881,637|898,361|
|Governance|costs|7,776|(7,776)|-|
|Total|expenditure|2025|881,637|-|881,637|
|Total|expenditure|2024|898,361|-|898,361|
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4 Analysis of expenditure
Of the total expenditure, £818,232 was unrestricted (2024: £843,361) and £63,405 was restricted (2024: £55,000).
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TIFERES HIGH SCHOOL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025 eeeeS SSSSSSSSSSSSeSeSeeeEeeeeeNSSeSeEeEe
5 Net income / (expenditure) for the year
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||||||||||
|---|---|---|---|---|---|---|---|---|
|This|is|stated|after|charging|/|(crediting):|2025|2024|
|£|£|
|Operating|lease|rentals:|
|Property|83,542|93,833|
|Depreciation|4,447|752|
|Independent|examiner's|fees-|Net|of VAT|4,840|4,840|
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- 6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel
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||||||||
|---|---|---|---|---|---|---|
|Staff|costs|were|as|follows:|2025|2024|
|£|£|
|Salaries|and|wages|433,047|464,126|
|Social|security|costs|17,706|16,695|
|Pension|costs|12,337|24,332|
|463,090|505,153|
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No employee earned over £60,000 per annum.
The total employee benefits contributions of the key management personnel were nil (2024: nil).
None of the trustees received any remuneration or were reimbursed expenses during the year (2024: nil).
Staff numbers
The average number of employees (head count based on number of staff employed) during the year was 42 (2024: 63).
7 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
Page 11
:
.
TIFERES HIGH SCHOOL LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
8 Tangible fixed assets
| Tangible fixed assets | Fixtures, | ||
|---|---|---|---|
| fittings & | |||
| equipments | Total | ||
| £ | £ | ||
| Cost | |||
| At the start ofthe year | 41,481 | 41,481 | |
| Additions in year | 15,532 | 15,532 | |
| Disposals in year | : | - | |
| Atthe end ofthe year | 57,013 | 57,013 | |
| Depreciation | |||
| At the start ofthe year | - | 39,226 | 39,226 |
| Charge for the year | 4,447 | 4,447 | |
| Eliminated on disposal | - | - | |
| At the end ofthe year | 43,673 | 43,673 | |
| Net book value | |||
| Atthe end oftheyear | 13,340 | 13,340 | |
| Atthe start ofthe year | 2,255 | 2,255 | |
| All ofthe above assets are used for charitable purposes. | |||
| Creditors: amounts falling due within one year | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Othercreditors | - | 15,250 | |
| Taxation and social security | 6,994 | 4,512 | |
| wages and salaries | 35,411 | 35,628 | |
| Accruals | 8,110 | 4,174 | |
| 50,515 | 59,564 | ||
| Creditors: amounts falling due aftermore than one year | |||
| 2025 | 2024 | ||
| £ | y | ||
| Bounce Back Loan | 50,000 | 50,000 | |
| 50,000 | 50,000 |
- 9 Creditors: amounts falling due within one year
10 Creditors: amounts falling due after more than one year
Page 12
:
TIFERES HIGH SCHOOL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025
11 Analysis of net assets between funds
| General | ||||||
|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||||
| Funds | Funds | funds | ||||
| £ | £ | £ | ||||
| Tangible fixed assets | - | 13,340 | 13,340 | |||
| Net current assets | - | 41,153 | 41,153 | |||
| Long term creditors | - | (50,000) | (50,000) | |||
| Net assets atthe end ofthe year | - | 4,493 | 4,493 | |||
| Analysis of net assets between funds-prior year | ||||||
| General | ||||||
| ° | Restricted | Unrestricted | Total | |||
| Funds | Funds | funds | ||||
| £ | £ | |||||
| Tangible fixed assets | - | 2,255 | 2,255 | |||
| Net current assets | - | (51,314) | (51,314) | |||
| Long term creditors | - | (50,000) | (50,000) | |||
| Net (liabilities) at the end ofthe year | - (99,059) (99,059) ooooooooo———eeeleleqeaeoaeaeaeaeaaa > |
|||||
| Movements in fund | ||||||
| Atthe | Incoming | Outgoing | ||||
| start | of | resources | resources & | At the end | ||
| the year | &gains | losses | Transfers | ofthe year | ||
| £ | £ | £ | £ | £ | ||
| Restricted funds: | ||||||
| Delapage Limited | - | 63,405 | (63,405) | - | - | |
| Total restricted funds | - | 63,405 | (63,405) | - | - | |
| Total unrestricted funds | (99,059) | 921,784 | (818,232) | - | 4,493 | |
| Totalfunds | (99,059) | 985,189 | (881,637) | - | 4,493 |
12 Movements in fund
| 13 | Reconciliation of net income / (expenditure) to netcash flowfrom | operating activities | |
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Net income / (expenditure) forthe reporting period | 103,552 | 25,926 | |
| (as perthe statement offinancial activities) | |||
| Depreciation | 4,447 | 752 | |
| Increase/ (decrease) in creditors Netcash provided by /(used in) operating activities |
(9,049) 98,950 |
(33,879) (7,201) |
|
| 14 | Analysis ofcash and cash equivalents | 2025 | 2024 |
| £ | £ | ||
| Cash at bank and in hand | 91,668 | 8,250 | |
| Total cash and cash equivalents | 91,668 | 8,250 | |
| 15 | Relatedpartytransactions |
There were no related party transactions during the year.
Page 13