Charity number: 1068303
HASMONEAN HIGH SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
HASMONEAN HIGH SCHOOL CHARITABLE TRUST
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Auditors' Report on the Financial Statements | 6 - 9 |
| Statement of Financial Activities | 10 |
| Balance Sheet | 11 |
| Statement of Cash Flows | 12 |
| Notes to the Financial Statements | 13 - 20 |
HASMONEAN HIGH SCHOOL CHARITABLE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021
| Trustees | Jonathan Feinmesser |
|---|---|
| Ari Joseph Bloom | |
| Jonathan Miller (appointed 1 May 2022) |
Charity registered number 1068303 Principal office Page Street London NW7 2EU Independent auditors Landau Baker Limited Chartered Accountants Mountcliff House 154 Brent Street London NW4 2DR Bankers Lloyds Bank PLC 105 - 107 Station Road Edgware Middlesex HA8 7JL
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2021
The Trustees present their annual report together with the audited financial statements of the Hasmonean High School Charitable Trust for the 1 September 2020 to 31 August 2021.
Objectives and activities
a. Policies and objectives
The charity exists to raise funds to advance the education of the pupils at Hasmonean High School (an Academy) by the provision and maintenance of buildings, resources, equipment, teaching and facilities at the school in addition to those provided out of public funds.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Strategies for achieving objectives
The charity promotes the profile, activities and successes of the school to parents of pupils, past pupils, and the community, fundraises and collects donations and pledges for the use by the charity. The charity makes grants to the school to enable it to provide educational services.
c. Volunteers
There were no volunteers other than the voluntary assistance provided by the trustees.
Achievements and performance
a. Key performance indicators
Donations received in the year totalled £4,023,085 (2020: £4,340,512). During the year donations were made to Hasmonean High School totalling £4,293,491 (2020: £3,738,068). Overall, there was an in year deficit of £492,449 (2020: £552,377 surplus).
b. Review of activities
The charity has had a successful year in fundraising for the school and has made charitable expenditure accordingly. This expenditure comprises donations paid to Hasmonean High School to fund the extensive, and excellent quality secular and Limmudei Kodesh (Jewish religious education) programmes and other educational activities. The donations also fund the maintenance of the buildings to ensure that the learning environment remains of good quality
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
b. Principal funding
The principal funding was raised through donations from individuals and trusts from an annual appeal to parents at the Hasmonean Schools, as well as other fundraising activities including Digital Campaigns in June 2020 and February 2022.
Structure, governance and management
a. Constitution
Hasmonean High School Charitable Trust is a registered charity, number 1068303, and is constituted under a Trust deed 30th December 1997.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Policies adopted for the induction and training of Trustees
The trustees are recruited from within the Jewish community who will be able to demonstrate an ability to support, promote and lead the development of the charity. They will have an area of expertise that will enhance the work of the trustees and contribute to the achievement of the charity's objectives. New trustees undergo induction training to brief them on their legal obligations under charity law, the committee and decision making process, the objectives and financial performance of the charity.
d. Related party relationships
The charity is a constituent of the Jewish Secondary Schools Movement, registered charity number 313109 and is associated with the Hasmonean High School Academy
e. Risk management
The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
Plans for future periods
The Trustees will continue to focus their efforts on raising funds to meet the charity’s objectives by appeals to families who associate with the Hasmonean High School Multi Academy Trust and the wider community.
The funds raised will be used to continue to support the advancement of the education of pupils at Hasmonean High School Multi Academy Trust.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
Information on fundraising practices
The trustees are committed to the highest standards of fundraising practises and aim to abide by fundraising and data protection guidelines.
The Charity principally raises funds from individuals, trusts and organisations who have a connection with and support the work of the charity. Its approach is generally on a personal level, but the Charity also raises funds through community events and activities.
The Charity does not share personal information of its supporters for the purposes of third-party marketing or processing.
There have been no complaints about fundraising activities reported in the year to 31 August 2021, or subsequently.
Public Benefit Statement
The trustees confirm that they have complied with the duty in the Charities Act to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'. The charity's funds are utilised by the school which, when considering which pupils to admit, ensure they meet the admission criteria as agreed with local council.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Landau Baker Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 14 June 2022 and signed on their behalf by:
Jonathan Miller Trustee
Ari Joseph Bloom Trustee
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HASMONEAN HIGH SCHOOL CHARITABLE TRUST
Opinion
We have audited the financial statements of Hasmonean High School Charitable Trust (the 'charity') for the year ended 31 August 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 August 2021 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HASMONEAN HIGH SCHOOL CHARITABLE TRUST (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HASMONEAN HIGH SCHOOL CHARITABLE TRUST (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We considered the nature of the industry and its control environment, and reviewed the academy’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.
We obtained an understanding of the legal and regulatory framework that the academy’s operates in, and identified the key laws and regulations that:
• had a direct effect on the determination of material amounts and disclosures in the financial statements. These included the UK Companies Act and tax legislation; and
• do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company’s ability to operate or to avoid a material penalty.
We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.
In addition to the above, our procedures to respond to the risks identified included the following:
• reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
• enquiring of management, and external legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and
• reading minutes of meetings of those charged with governance.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HASMONEAN HIGH SCHOOL CHARITABLE TRUST (CONTINUED)
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Landau Baker Limited
Chartered Accountants
Mountcliff House 154 Brent Street
London
NW4 2DR
14 June 2022
Landau Baker Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2021 £ 4,023,085 - 4,023,085 4,515,534 4,515,534 (492,449) 591,741 (492,449) 99,292 |
Total funds 2021 £ 4,023,085 - 4,023,085 4,515,534 4,515,534 (492,449) 591,741 (492,449) 99,292 |
Total funds 2020 £ 4,340,512 111 |
|---|---|---|---|
| 4,340,623 | |||
| 3,788,246 | |||
| 3,788,246 | |||
| 552,377 | |||
| 39,364 552,377 |
|||
| 591,741 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 20 form part of these financial statements.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
BALANCE SHEET AS AT 31 AUGUST 2021
| Note Fixed assets Current assets Debtors 7 Cash at bank and in hand Creditors: amounts falling due within one year 8 Net current assets Total assets less current liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 9 Unrestricted funds 9 Total funds |
11,275 258,299 269,574 (170,282) |
2021 £ - 99,292 99,292 99,292 99,292 - 99,292 99,292 |
16,300 728,364 744,664 (152,923) |
2020 £ |
|---|---|---|---|---|
| - 591,741 |
||||
| 591,741 | ||||
| 591,741 | ||||
| 591,741 | ||||
| - 591,741 |
||||
| 591,741 |
The financial statements were approved and authorised for issue by the Trustees on 14 June 2022 and signed on their behalf by:
Jonathan Miller Ari Joseph Bloom Trustee Trustee
The notes on pages 13 to 20 form part of these financial statements.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 13 to 20 form part of these financial statements |
2021 £ (470,065) - - (470,065) 728,364 258,299 |
2020 £ 74,290 |
|---|---|---|
| - | ||
| - | ||
| 74,290 654,074 |
||
| 728,364 | ||
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
1. General information
Hasmonean High School Charitable Trust is a charity registered with the Charities Commission (no. 1068303).
The principal activity of the charity is to advance the education of the pupils at Hasmonean High School by the provision and maintenance of buildings, resources, equipment, teaching and facilities for the education in addition to those provided out of public funds.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Hasmonean High School Charitable Trust 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.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charitys ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.4 Expenditure
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
2. Accounting policies (continued)
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 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 institution with whom the funds are deposited.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and 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.
2.8 Liabilities and provisions
Liabilities 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.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.9 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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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
2. Accounting policies (continued)
2.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
3. Income from donations and legacies
| Unrestricted funds 2021 £ Donations 4,023,085 Total 2020 4,340,512 4. Investment income Unrestricted funds 2021 £ Bank interest receivable - Total 2020 111 5. Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2021 £ Charitable activities 4,515,534 Total 2020 3,788,246 |
Total funds 2021 £ 4,023,085 4,340,512 Total funds 2021 £ - 111 Total funds 2021 £ 4,515,534 3,788,246 |
Total funds 2020 £ 4,340,512 |
|---|---|---|
| Total funds 2020 £ 111 |
||
| Total funds 2020 £ 3,788,246 |
||
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
6. Analysis of expenditure by activities
| Charitable activities Total 2020 |
Activities undertaken directly 2021 £ 4,515,534 3,788,246 |
Total funds 2021 £ 4,515,534 3,788,246 |
Total funds 2020 £ 3,788,246 |
|---|---|---|---|
7. Debtors
| Due within one year Tax recoverable |
2021 £ 11,275 11,275 |
2020 £ 16,300 |
|---|---|---|
| 16,300 |
8. Creditors: Amounts falling due within one year
| Other creditors Accruals and deferred income |
2021 £ 141,343 28,939 170,282 |
2020 £ 148,841 4,082 |
|---|---|---|
| 152,923 |
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
9. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 September 2020 £ 591,741 Balance at 1 September 2019 £ 39,364 |
Income £ 4,023,085 Income £ 4,340,623 |
Expenditure £ (4,515,534) Expenditure £ (3,788,246) |
Balance at 31 August 2021 £ 99,292 |
|---|---|---|---|---|
| Balance at 31 August 2020 £ 591,741 |
10. Analysis of net assets between funds Analysis of net assets between funds - current year
| Unrestricted funds 2021 £ Current assets 269,575 Creditors due within one year (170,282) Total 99,293 |
Total funds 2021 £ 269,575 (170,282) |
|---|---|
| 99,293 |
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
10. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Current assets Creditors due within one year Total |
Unrestricted funds 2020 £ 744,664 (152,923) 591,741 |
Total funds 2020 £ 744,664 (152,923) 591,741 |
|---|---|---|
11. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2021 £ (492,449) 5,025 17,359 (470,065) 2021 £ 258,299 258,299 |
2020 £ 552,377 14,600 (492,687) 74,290 2020 £ 728,364 728,364 |
|---|---|---|
12. Analysis of cash and cash equivalents
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HASMONEAN HIGH SCHOOL CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
13. Analysis of changes in net debt
| Cash at bank and in hand | At 1 September 2020 £ 728,364 728,364 |
Cash flows At 31 August 2021 £ £ (470,065) 258,299 (470,065) 258,299 |
Cash flows At 31 August 2021 £ £ (470,065) 258,299 (470,065) 258,299 |
|---|---|---|---|
| 258,299 |
14. Related party transactions
At the year end, £141,343 (2020: £148,841) was due to Hasmonean High School Academy, a charity with a common trustee. The charity donated £4,293,491 to the Academy during the year (2020: £3,738,068).
During the year, the charity donated £84,000 to JSSM (2020: £40,708), a charity to which it is a constituent member.
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