COMPANY REGISTRATION NUMBER: 3952156 CHARITY REGISTRATION NUMBER: 1082705
SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
Company Limited by Guarantee UNAUDITED FINANCIAL STATEMENTS
31 AUGUST 2022
COHEN ARNOLD Chartered accountants New Burlington House 1075 Finchley Road LONDON NW11 0PU
SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022
| PAGES | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 to 2 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and expenditure | |
| account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 to 11 |
SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
YEAR ENDED 31 AUGUST 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Simon Marks Jewish Primary School Trust
Charity registration number 1082705 Company registration number 3952156 Principal office and registered 75 Cazenove Road office London N16 6PD THE TRUSTEES
Mr H Pallis Mrs L R Buck Mr A P Ohrenstein
INDEPENDENT EXAMINER Dov Harris FCA Cohen Arnold New Burlington House 1075 Finchley Road London NW11 0PU
STRUCTURE, GOVERNANCE AND MANAGEMENT
The day to day affairs of the charity are administered by the trustees.
As the charity is a company limited by guarantee, its governing documents are its memorandum and articles of association.
The articles of association of the charity do not require the trustees to retire by rotation.
Risk management
The charity has assessed the major risks to which the charity is exposed, in particular those to the operations and finances of the charity, and is satisfied the systems are in place to mitigate its exposure to those risks.
It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.
OBJECTIVES AND ACTIVITIES
The charity is established for charitable purposes, its objects being to advance the education and development of pupils at Simon Marks Jewish Primary School with particular regard to the advancement of the education of such pupils in the Jewish Religion and the Jewish Faith.
The trustees confirm their compliance with the duty to have due regard to the public benefit guidance published by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities.
The trustees consider that the present level of funding is adequate to support its ongoing charitable activities.
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DocuSign Envelope ID: 0C619DFC-2EB1-4648-8ABB-0F0C4A270747
SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
TRUSTEES' ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT)
(continued)
YEAR ENDED 31 AUGUST 2022
ACHIEVEMENTS AND PERFORMANCE
The charity has continued to support the aforementioned School in its provision of a first class education to the pupils and continues to enjoy the support of the pupils' parents in these respects.
The results for the year under review are set out in the attached Financial Statements together with the Notes thereon.
FINANCIAL REVIEW
The net results of the charity for the year was a deficit of £5,437. As at 31 August 2022 the charity had an accumulated surplus of £39,327 of unrestricted funds.
PLANS FOR FUTURE PERIODS
The trustees consider that the success of the School over the last few years indicates the appropriateness of the charity's strategy. The trustees plan to continue to make grants to support the operation of the School.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 4 January 2023 and signed on behalf of the board of trustees by:
Mr H Pallis Trustee
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SIMON MARKS JEWISH PRIMARY SCH(K)L TRUST ENDEPENDENI EXAMtNER'S REPORT TO IHE TRusfEES OF SIMON MAJIKS JEWISH PRIMARY SCHOOL TRUST YEAR ENDED 31 AUGUST 2022 I report to the trystees on my examination of the financial statements of Silnon Marks Jewish Primary S¢hool Trust {kne charity,) for the year ended 31 August 2022. REspof4sIBILITIES AND BASIS OF REPORT As the trustees of the Company (and also its directors for the purposes of company law) you are responsible for the Prepgration of the fmancial statements in accordance with the requirements of the Companies Ath 2006 ('the 2006 Act,). Haying satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act aDd are eligible for independent examination, I report in respect of my examination of the charity's ac¢ounts as carried out under section 145 of the Charities A¢t 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by th¢ Charity Comtnission under section 145(5){b) of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT J have completed my examination. I confim that no material matters have ¢ome to my attention in connection with the examination giving me Cause to believe that in any Materi respe¢t'. accounting records were not kept in respect of the ¢harity as Tequired by section 130 of the Act. or 2. the finan¢ial statements do not accord with those records. or 3. the financial statements do not comply with th¢ appli¢able requir¢ments concerning the forni and content of accounts Set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, Yiew which is not a malt¢r Considered as part of an independent ¢xaminalion. I have no concerns and have come across no other matters in conneclion with the examination lo which attention should be drawn in this report in order to enabl¢ a proper understanding of the accounts to be reached. Dov Ha is FCA Cohen Amold New Burlington House 1075 Finchley Road London NWI I OPU Independenl Examiner 4 January 2023
SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
YEAR ENDED 31 AUGUST 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 80,862 | – | 80,862 | 55,173 |
| Investment income | 6 | 12 | – | 12 | 4 |
| ------------------------------- | ---------------- | ------------------------------- | ------------------------------- | ||
| Total income | 80,874 | – | 80,874 | 55,177 | |
| =============================== | ================ | =============================== | =============================== | ||
| Expenditure | |||||
| Expenditure on charitable activities | 7,8 | 85,810 | 501 | 86,311 | 53,234 |
| ------------------------------- | ---------------- | ------------------------------- | ------------------------------- | ||
| Total expenditure | 85,810 | 501 | 86,311 | 53,234 | |
| =============================== | ================ | =============================== | =============================== | ||
| ------------------------------- | ---------------- | ------------------------------- | ------------------------------- | ||
| Net (expenditure)/income and net | |||||
| movement in funds | (4,936) | (501) | (5,437) | 1,943 | |
| =============================== | ================ | =============================== | =============================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 44,263 | 501 | 44,764 | 42,821 | |
| ------------------------------- | ---------------- | ------------------------------- | ------------------------------- | ||
| Total funds carried forward | 39,327 | – | 39,327 | 44,764 | |
| =============================== | ================ | =============================== | =============================== |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 11 form part of these financial statements.
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DocuSign Envelope ID: 0C619DFC-2EB1-4648-8ABB-0F0C4A270747
SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
| 31 AUGUST | 31 AUGUST | 2022 | ||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Note | £ | £ | £ | £ | ||
| CURRENT ASSETS | ||||||
| Debtors | 11 | 1,000 | 1,000 | |||
| Cash at bank and in hand | 39,827 | 45,264 | ||||
| ------------------------------- | ------------------------------- | |||||
| 40,827 | 46,264 | |||||
| CREDITORS: amounts falling due | ||||||
| within one year | 12 | (1,500) | (1,500) | |||
| ------------------------------- | ------------------------------- | |||||
| NET CURRENT ASSETS | 39,327 | 44,764 | ||||
| ------------------------------- | ------------------------------- | |||||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 39,327 | 44,764 | ||||
| =============================== | =============================== | |||||
| FUNDS OF THE CHARITY | ||||||
| Restricted funds | – | 501 | ||||
| Unrestricted funds | 39,327 | 44,263 | ||||
| ------------------------------- | ------------------------------- | |||||
| Total charity funds | 13 | 39,327 =============================== |
44,764 =============================== |
For the year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 January 2023, and are signed on behalf of the board by:
Mr H Pallis Trustee
The notes on pages 6 to 11 form part of these financial statements.
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SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2022
1. GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 75 Cazenove Road, London N16 6PD.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
3. ACCOUNTING POLICIES (continued)
Incoming resources
Incoming Resources
Incoming Resources represent receipts under Gift Aid, voluntary contributions from parents and other grants and donations; incoming resources are accounted for as received by the Charitable Trust and are credited to the Statement of Financial Activiites.
Fund Accounting
General unrestricted funds comprise the accumulated surplus or deficit on income and expenditure account. They are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds comprise funds to be utilised on publicity and marketing for the School.
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the Charity to pay out resources.
Governance Costs
Governance costs include the costs of preparation and examination of Statutory Accounts, the costs of Trustee meetings and costs of any legal advice to trustees on governance or constitutional matters.
Charitable Activities
Expenditure is charged on an accrual basis and allocated to the appropriate headings in the accounts.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
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SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
3. ACCOUNTING POLICIES (continued)
Financial instruments (continued)
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. LIMITED BY GUARANTEE
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
5. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | |||
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| DONATIONS | |||
| Donations | 80,862 | – | 80,862 |
| =============================== | ================ | =============================== |
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SIMON MARKS JEWISH PRIMARY SCHOOL TRUST
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
5. DONATIONS AND LEGACIES (continued)
| 5. | DONATIONS AND LEGACIES | (continued) | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| DONATIONS | |||||
| Donations | 54,673 | 500 | 55,173 | ||
| =============================== | ================ | =============================== | |||
| 6. | INVESTMENT INCOME | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Interest receivable | 12 | 12 | 4 | 4 | |
| ================ | ================ | ================ | ================ | ||
| 7. | EXPENDITURE ON CHARITABLE ACTIVITIES BY FUND TYPE | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Charitable activities | 85,810 | 501 | 86,311 | ||
| =============================== | ================ | =============================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Charitable activities | 53,227 | 7 | 53,234 | ||
| =============================== | ================ | =============================== | |||
| 8. | EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | 2022 | 2021 | |||
| £ | £ | £ | |||
| Charitable activities | 86,311 | 86,311 | 53,234 | ||
| =============================== | =============================== | =============================== | |||
| 9. | INDEPENDENT EXAMINATION FEES | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 1,200 | 1,200 | |||
| ========================== | ========================== |
10. TRUSTEE REMUNERATION AND EXPENSES
No trustee received any remuneration during the year. The charity did not meet any individual expenses incurred by the trustees for the services provided to the charity.
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SIMON MARKS JEWISH PRIMARY SCHOOL TRUST COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
| 11. | DEBTORS | ||||
|---|---|---|---|---|---|
| 2022 | 2021 | ||||
| £ | £ | ||||
| Other debtors | 1,000 | 1,000 | |||
| ========================== | ========================== | ||||
| 12. | CREDITORS: amounts falling due within one year | ||||
| 2022 | 2021 | ||||
| £ | £ | ||||
| Accruals and deferred income | 1,500 | 1,500 | |||
| ========================== | ========================== | ||||
| 13. | ANALYSIS OF CHARITABLE FUNDS | ||||
| Unrestricted funds | |||||
| At | At 31 | ||||
| 1 September | August | ||||
| 2021 | Income | Expenditure | 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 44,263 | 80,874 | (85,810) | 39,327 | |
| =============================== | =============================== | =============================== | =============================== | ||
| At | At | ||||
| 1 September | 31 August | ||||
| 2020 | Income | Expenditure | 2021 | ||
| £ | £ | £ | £ | ||
| General funds | 42,813 | 54,677 | (53,227) | 44,263 | |
| =============================== | =============================== | =============================== | =============================== | ||
| Restricted funds | |||||
| At | At | ||||
| 1 September | 31 August | ||||
| 2021 | Income | Expenditure | 2022 | ||
| £ | £ | £ | £ | ||
| Restricted Fund | 501 | – | (501) | – | |
| ================ | ================ | ================ | ================ | ||
| At | At | ||||
| 1 September | 31 August | ||||
| 2020 | Income | Expenditure | 2021 | ||
| £ | £ | £ | £ | ||
| Restricted Fund | 8 | 500 | (7) | 501 | |
| ================ | ================ | ================ | ================ |
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SIMON MARKS JEWISH PRIMARY SCHOOL TRUST COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 AUGUST 2022
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Current assets | 40,827 | – | 40,827 |
| Creditors less than 1 year | (1,500) | – | (1,500) |
| ------------------------------- | ---------------- | ------------------------------- | |
| Net assets | 39,327 | – | 39,327 |
| =============================== | ================ | =============================== | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Current assets | 45,763 | 501 | 46,264 |
| Creditors less than 1 year | (1,500) | – | (1,500) |
| ------------------------------- | ---------------- | ------------------------------- | |
| Net assets | 44,263 | 501 | 44,764 |
| =============================== | ================ | =============================== |
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