## **REGISTERED COMPANY NUMBER: 04443267 (England and Wales) REGISTERED CHARITY NUMBER: 1095796**
## **TRUSTEES' REPORT AND**
**AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020**
**FOR**
**YAVNEH FOUNDATION TRUST (A COMPANY LIMITED BY GUARANTEE)**
Stein Richards
Chartered Accountants and Statutory Auditor
10 London Mews Paddington London W2 1HY
## **YAVNEH FOUNDATION TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020**
**----- Start of picture text -----**
Page
Trustees' Report 1 to 4
Report of the Independent Auditors 5 to 6
Statement of Financial Activities 7
Statement of Financial Position 8
Statement of Cash Flows 9
Notes to the Financial Statements 10 to 18
Detailed Statement of Financial Activities 19
**----- End of picture text -----**
## **YAVNEH FOUNDATION TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2020**
The trustees who are also directors of Yavneh Foundation Trust (the Charity) for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 August 2020.
The trustees have adopted the provisions of 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).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and activities for the public benefit**
The Charity's principal activity is the advancement of religious and secular education.
The objects of the Charity are to apply the Charity's funds and income thereof for such charitable purposes connected with Yavneh College Academy Trust ('YCAT') as the trustees shall from time to time determine and primarily for the maintenance and support of YCAT.
YCAT is the multi academy trust (MAT) responsible for Yavneh College and Yavneh Primary School. It was formed in April 2016.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the Charity's aims and objectives and in planning future activities.
**STRATEGIC REPORT Achievement and performance Charitable activities**
The Charitable activity is the provision of funding to assist the advancement of religious and secular education.
## **Education performance**
In the summer of 2020 results awarded by Secondary Schools were called Centre Assessed Grades (CAGs), as exams were cancelled due to Covid 19. The CAGs for Yavneh College showed 90% of pupils obtained 5 standard passes including English and Maths at GCSE and 100% of pupils achieved A-C at A Level.
Due to exams being cancelled, Yavneh College does not have any progress 8 data nor do school league tables exist for the academic year. However Yavneh College's own internal calculations of data demonstrate a progress 8 score of 1.2.
In Yavneh Primary School both SATS and phonics tests were cancelled due to Covid 19 and there was no requirement on schools to collect or publish data. However, the predicted data prior to lockdown showed that 85% were expected to meet age appropriate levels.
## **Financial review**
## **Financial position**
The financial statements show the total incoming resources for the year of £985,835 (2019: £1,457,825). The principal source of income are voluntary and legacies donations, fundraising events and grants received as shown under Notes 2, 3 and 4 of the financial statements.
The balance sheet shows a satisfactory position with undistributed funds amounting to £842,359 (2019: £900,698).The restricted funds totalling £591,166 (2019: £648,649) for particular projects or activities are set out and explained in Note 13 of the financial statements.
## **Investment policy and objectives**
The Charity is committed to meeting the funding requirements of YCAT to enable it to continue to provide a high standard of religious and secular education.
Page 1
## **YAVNEH FOUNDATION TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2020**
## **STRATEGIC REPORT Financial review**
## **Reserves policy**
The trustees do not maintain a reserves policy as resources are used as available.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence or the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing the financial statements.
## **Principal risks and uncertainties**
The trustees have considered the impact of Covid 19 on the operations of the Yavneh Schools and on the Charity. The Executive Headteacher, Mr S Lewis has worked with senior leaders to ensure that education across the schools has continued via online platforms during lockdown periods. The re-opening of schools in September 2020 was done in accordance with HM Government guidance.
The Charity has seen a significant drop in the Education and Security Supplement (ESS) (voluntary donation) in recent months due to the material economic impact on some parents due to Covid 19. The trustees along with the trustees of Yavneh College Academy Trust have been working to increase the level of donations.
The trustees together with the senior leaders of Yavneh College continually review the financial position of the Charity, and the Chair of the Trust receives monthly cash flow statements. Budgets have been adjusted in order to take into account reduced income.
## **Future plans**
The trustees continue to actively work to maintain and develop the ethos of the two Yavneh Schools, to appoint the majority of trustees of YCAT, to be responsible for fundraising and to manage the collection of the Education and Security Supplement.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The organisation is a charitable company limited by guarantee, incorporated on 21 May 2002 and registered as a Charity on 21 May 2002. The Charity was established as the Hertsmere Jewish High College Trust and later changed its name to Yavneh Foundation Trust on 21 May 2015. The Charity was established under a Memorandum of Association that established the objects and powers of the Charitable Company and is governed under its Memorandum and Articles of Association.
## **Recruitment and appointment of new trustees**
The Directors of the Charity are also trustees for the purpose of Charity law and under the Charity's Articles of Association are known as members of the Management Committee. The power to appoint new trustees is vested in the continuing trustees. Under the requirements of the Memorandum and Articles of Association the trustees are elected to serve until they resign. At all times there has to be a minimum of three trustees.
## **Induction and training of new trustees**
Following appointment, new trustees are introduced to their new role and given copies of the trust deed and a guide to the policies and procedures adopted by the Charity. A number of publications from the Charity Commission are also provided including the guidance on charities and public benefit and on the advancement of education for public benefit. This ensures that new trustees are aware of the scope of their responsibilities under the Charities Act.
## **Related parties**
The following entities are related parties to the Charity (see Note 14):
- Yavneh College Academy Trust : a registered charity in which there are certain trustees who are also trustees of the Charity namely Mr Daniel Album and Mrs Susan Nyman.
Page 2
## **YAVNEH FOUNDATION TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management**
The trustees are responsible for the overseeing of the risks faced by the Charity. Risks are identified, assessed and controls established throughout the year. A formal review of the Charity's risk management process is undertaken on an annual basis. The trustees have conducted a review of the major risks to which the Charity is exposed, in particular those relating to its operations and finances and are satisfied that systems are in place to mitigate exposure to the major risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 04443267 (England and Wales)
**Registered Charity number** 1095796
## **Registered office**
10 London Mews London W2 1HY
## **Trustees**
D I Album - chairman Mrs S Nyman B E Perl J S Reback A Rubenstein (resigned 13/5/2020) Ms J Grose Mrs S P Isaacs Rabbi A Chapper (appointed 27/1/2020) M Firestone (appointed 3/1/2021)
## **Company Secretary**
D I Album - chairman
## **Auditors**
Stein Richards Chartered Accountants and Statutory Auditor 10 London Mews Paddington London W2 1HY
## **Solicitors**
Aubrey David 40 Manchester Street London W1U 7LL
## **Bankers**
Lloyds TSB Bank 296-302 High Holborn London WC1V 7JH
Page 3
## **YAVNEH FOUNDATION TRUST**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST AUGUST 2020**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Yavneh Foundation Trust for the purposes of company law) 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).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Stein Richards, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
............................................................................... D I Album - chairman - Trustee
Page 4
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YAVNEH FOUNDATION TRUST**
## **Opinion**
We have audited the financial statements of Yavneh Foundation Trust (the 'charitable company') for the year ended 31st August 2020 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, 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 (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31st August 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
Page 5
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF YAVNEH FOUNDATION TRUST**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
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 a Report of the Independent Auditors 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.
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 Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Nissen F.C.A. (Senior Statutory Auditor) for and on behalf of Stein Richards Chartered Accountants and Statutory Auditor 10 London Mews Paddington London W2 1HY
Date: .............................................
Page 6
## **YAVNEH FOUNDATION TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31ST AUGUST 2020**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
3
Department of Education grants
Other income
4
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Yavneh College Academy Trust
Educational visit to Poland
Educational visits to Israel
Yavneh Foundation Trust
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
**-**
**-**
**-**
**-**
**856**
**-**
**-**
**-**
**856**
**(856)**
**252,049**
**251,193**|Restricted
funds
£
**846,209**
**71,916**
**67,710**
**985,835**
**958,497**
**77,261**
**-**
**7,560**
**1,043,318**
**(57,483)**
**648,649**
**591,166**|**31.8.20**
**Total**
**funds**
**£**
**846,209**
**71,916**
**67,710**
**985,835**
**959,353**
**77,261**
**-**
**7,560**
**1,044,174**
**(58,339)**
**900,698**
**842,359**|31.8.19
Total
funds
£
1,022,218
89,450
346,157
1,457,825
1,182,353
60,426
307,738
7,080
1,557,597
(99,772)
1,000,470
900,698|
|---|---|---|---|---|
The notes form part of these financial statements
Page 7
## **YAVNEH FOUNDATION TRUST (REGISTERED NUMBER: 04443267)**
## **STATEMENT OF FINANCIAL POSITION 31ST AUGUST 2020**
|Notes
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Debtors
11
Cash at bank
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
**250,000**
**-**
**1,193**
**1,193**
**-**
**1,193**
**251,193**
**251,193**|Restricted
funds
£
**-**
**22,882**
**656,989**
**679,871**
**(88,705)**
**591,166**
**591,166**
**591,166**|**31.8.20**
**Total**
**funds**
**£**
**250,000**
**22,882**
**658,182 **
**681,064**
**(88,705)**
**592,359**
**842,359**
**842,359**
**251,193**
**591,166**
**842,359**|31.8.19
Total
funds
£
250,000
35,595
1,164,405
1,200,000
(549,302)
650,698
900,698
900,698
252,049
648,649
900,698|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
D I Album - chairman - Trustee
The notes form part of these financial statements
Page 8
## **YAVNEH FOUNDATION TRUST**
|**STATEMENT OF CASH FLOWS**
**FOR THE YEAR ENDED 31ST AUGUST 2020**
**31.8.20**
Notes
**£**
**Cash flows from operating activities**
Cash generated from operations
15
**(506,223) **
Net cash (used in)/provided by operating activities
**(506,223) **
**Change in cash and cash equivalents in the**
**reporting period**
**(506,223)**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**1,164,405**
**Cash and cash equivalents at the end of the**
**reporting period**
**658,182 **|31.8.19
£
182,782|
|---|---|
||182,782|
|||
||182,782
981,623|
||1,164,405|
|||
The notes form part of these financial statements
Page 9
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Yavneh Foundation Trust constitutes a public benefit entity as defined by FRS 102.
## **Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that adequate cash resources will be available to cover the Charity's requirements for working capital expenditure for at least the next twelve months.
However due to the uncertainties surrounding the Covid-19 virus at the time of approval of these accounts the trustees believe it is difficult to establish the impact this may have on the Charity.
## **Legal status of the charity**
The Charity is a company limited by guarantee and has no share capital. Liability of each trustee in the event of winding-up is limited to £1.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following specific policies are applied to particular categories of income:
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Voluntary income is received by the way of donations and is included in full in the Statement of Financial Activities when receivable.
Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
All resources expended are inclusive of irrecoverable VAT.
## **Charitable activities**
Charitable activities expenditure includes all costs directly relating to the objective of the Charity and the costs involved supporting that work.
continued...
Page 10
**YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020**
## **1. ACCOUNTING POLICIES - continued**
## **Governance costs**
Governance costs relate to the cost audit fees.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property 2% straight line
The trustees deem the residual value of the Freehold Property to be at least equivalent to its cost and so no depreciation has been provided.
## **Taxation**
The Charity is exempt from Corporation Tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
Financial instruments are classified and accounted for as either debt instruments or financial liabilities. Both assets and liabilities are all measured at amortised cost.
## **2. DONATIONS AND LEGACIES**
|Donations
Gift Aid|**31.8.20**
**£**
**727,407**
**118,802 **
**846,209**|31.8.19
£
887,929
134,289|
|---|---|---|
|||1,022,218|
In 2019 the total income from donations and gift aid was to restricted funds.
continued...
Page 11
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020**
|**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Department of Education grants
In 2019 the total income from charitable activities was to restricted funds.
**4.**
**OTHER INCOME**
Educational visit to Poland
Educational visits to Israel
In 2019 the total other income was to restricted funds.
**5.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs (see
note 6)
£
Yavneh College Academy Trust
**959,353**
Educational visit to Poland
**77,261**
Yavneh Foundation Trust
**-**
**1,036,614**
**6.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Educational visit to Poland
Educational visits to Israel
Sundry expenses
Contributions to Yavneh College Academy Trust
Donations in kind
Bank charges
Yeshiva visits||
|---|---|
|||
|||
continued...
Page 12
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020**
## **7. SUPPORT COSTS**
## **8.**
|**SUPPORT COSTS**|||
|---|---|---|
|||Governance|
|||costs|
|||£|
|Yavneh Foundation Trust||**7,560**|
|Support costs, included in the above, are as follows:|**31.8.20**|31.8.19|
||Yavneh
Foundation|Total|
||Trust|activities|
||**£**|£|
|Auditors' remuneration|**7,560**|**7,080**|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||**31.8.20**|31.8.19|
||**£**|£|
|Auditors' remuneration|**7,560**|7,080|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31st August 2020 nor for the year ended 31st August 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1st September 2019 and 31st August 2020
**NET BOOK VALUE**
At 31st August 2020
At 31st August 2019|Freehold
Property
£
**250,000**
**250,000**
250,000|
|---|---|
The Freehold Property is occupied by a resident site manager and caretaker of Yavneh College as part of the employment agreement.
continued...
Page 13
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020**
|**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments and accrued income
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other creditors
Accruals and deferred income
**13.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.9.19
in funds
£
£
**Unrestricted funds**
General fund
**252,049**
**(856)**
**Restricted funds**
Jewish Studies
**488,401**
**(66,901)**
Grants
**7,164**
**71,916**
Educational visit to Poland
**-**
**(9,550)**
Pennies With Purpose
**14,339**
**(12,981)**
Dr. D Coleman Memorial Fund
**4,765**
**-**
Yavneh College classroom
**4,960**
**-**
Primary school donation
**129,020**
**(39,967)**
**648,649**
**(57,483)**
**TOTAL FUNDS**
**900,698**
**(58,339) **|**31.8.20**
**£**
**16,960**
**5,922**
**22,882**
**31.8.20**
**£**
**26,123**
**1,710**
**60,872**
**88,705**
Transfers
between
funds
£
**-**
**65,694**
**(75,244)**
**9,550**
**-**
**-**
**-**
**-**
**-**
**-**|31.8.19
£
26,228
9,367
35,595
31.8.19
£
454,697
-
94,605|
|---|---|---|
|||549,302|
|||At
31.8.20
£
**251,193**
**487,194**
**3,836**
**-**
**1,358**
**4,765**
**4,960**
**89,053**|
|||**591,166**|
|||**842,359**|
continued...
Page 14
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **FOR THE YEAR ENDED 31ST AUGUST 2020**
## **13. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Jewish Studies
Grants
Educational visit to Poland
Pennies With Purpose
Primary school donation
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Jewish Studies
Grants
Educational visit to Poland
Educational visits to Israel
Yeshiva visits
Pennies With Purpose
Dr. D Coleman Memorial Fund
Yavneh College classroom
Primary school donation
**TOTAL FUNDS**|At 1.9.18
£
266,086
497,575
7,601
-
-
1,400
14,483
4,765
4,960
203,600
734,384
1,000,470|Incoming
resources
£
**-**
**846,208**
**71,916**
**67,711**
**-**
**-**
**985,835**
**985,835**
Net
movement
in funds
£
(14,037)
(99,385)
89,450
(1,189)
1,700
(1,587)
(144)
-
-
(74,580)
(85,735)
(99,772)|Resources
expended
£
**(856)**
**(913,109)**
**-**
**(77,261)**
**(12,981)**
**(39,967)**
**(1,043,318)**
**(1,044,174)**
Transfers
between
funds
£
-
90,211
(89,887)
1,189
(1,700)
187
-
-
-
-
-
-|Movement
in funds
£
**(856)**
**(66,901)**
**71,916**
**(9,550)**
**(12,981)**
**(39,967)**
**(57,483)**
**(58,339) **
At
31.8.19
£
252,049
488,401
7,164
-
-
-
14,339
4,765
4,960
129,020
648,649
900,698|
|---|---|---|---|---|
Page 15
continued...
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued**
## **FOR THE YEAR ENDED 31ST AUGUST 2020**
## **13. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
-
**Restricted funds**
Jewish Studies
934,700
Grants
89,450
Educational visit to Poland
59,237
Educational visits to Israel
309,438
Yeshiva visits
-
Pennies With Purpose
-
Primary school donation
65,000
1,457,825
**TOTAL FUNDS**
1,457,825
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.9.18
in funds
£
£
**Unrestricted funds**
General fund
266,086
(14,893)
**Restricted funds**
Jewish Studies
497,575
(166,286)
Grants
7,601
161,366
Educational visit to Poland
-
(10,739)
Educational visits to Israel
-
1,700
Yeshiva visits
1,400
(1,587)
Pennies With Purpose
14,483
(13,125)
Dr. D Coleman Memorial Fund
4,765
-
Yavneh College classroom
4,960
-
Primary school donation
203,600
(114,547)
734,384
(143,218)
**TOTAL FUNDS**
1,000,470
(158,111)|Resources
expended
£
(14,037)
(1,034,085)
-
(60,426)
(307,738)
(1,587)
(144)
(139,580)
(1,543,560)
(1,557,597)
Transfers
between
funds
£
-
155,905
(165,131)
10,739
(1,700)
187
-
-
-
-
-
-|Movement
in funds
£
(14,037)
(99,385)
89,450
(1,189)
1,700
(1,587)
(144)
(74,580)
(85,735)
(99,772)
At
31.8.20
£
251,193
487,194
3,836
-
-
-
1,358
4,765
4,960
89,053
591,166
842,359|
|---|---|---|
||||
||||
||||
Page 16
continued...
## **YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020**
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|
Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
|**Unrestricted funds**|£|£|£|
|General fund|-|(14,893)|(14,893)|
|**Restricted funds**||||
|Jewish Studies|1,780,908|(1,947,194)|(166,286)|
|Grants|161,366|-|161,366|
|Educational visit to Poland|126,948|(137,687)|(10,739)|
|Educational visits to Israel|309,438|(307,738)|1,700|
|Yeshiva visits|-|(1,587)|(1,587)|
|Pennies With Purpose|-|(13,125)|(13,125)|
|Primary school donation|65,000|(179,547)|(114,547)|
||2,443,660|(2,586,878)|(143,218)|
|**TOTAL FUNDS**|2,443,660|(2,601,771)|(158,111)|
|**Name of fund**
Jewish Studies and Yeshiva|**Description, nature and purpose of the fund**
Funded by voluntary contributions from pupils towards Jewish Studies.||
|
|visits
Grants|Grants were received from the Department of Education towards the security cost|||
||incurred by the Yavneh College and Yavneh Primary School and the bank loan.|||
|Educational visits to Israel|Educational visits that are funded either by bursaries or self funded by the pupils.|||
|and Poland||||
|PenniesWithPurpose|Fund raising activity led by the students with the aim of|collecting six million||
||pennies to be donated to good causes.|||
|Dr. D Coleman Memorial|Fund raising activity with the aim of donating to good causes.|||
|Fund
Yavneh College classroom|Legacy donation received to purchase interactive white boards.|||
|Primary school donation|Donations from Yavneh parents/grandparent and voluntary doners towards Jewish
Studies.|||
continued...
Page 17
**YAVNEH FOUNDATION TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST AUGUST 2020**
## **14. RELATED PARTY DISCLOSURES**
## **Yavneh College Academy Trust**
Yavneh College Academy Trust received £943,794 (2019: £1,179,825) from the Charity, as restricted donations.
Included in trade creditors is a balance £26,125 (2019: £220,553) payable to Yavneh College Academy Trust.
There are certain common trustees between Yavneh College Academy Trust and the Charity.
|**15.**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|---|
||||**31.8.20**|31.8.19|
||||**£**|£|
||**Net expenditure for the reporting period (as per the Statement of Financial**
**Activities)**||**(58,339)**|(99,772)|
||**Adjustments for:**
Decrease/(increase) in debtors||**12,713**|(15,985)|
||(Decrease)/increase in creditors||**(460,597)**|298,539|
||**Net cash (used in)/provided by operations**||**(506,223) **|182,782|
|**16..**|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|||At 1.9.19|Cash flow|**At 31.8.20**|
|||£|£|**£**|
||**Net cash**||||
||Cash at bank|**1,164,405**|**(506,223)**|**658,182**|
|||**1,164,405**|**(506,223)**|**658,182 **|
||**Total**|**1,164,405**|**(506,223)**|**658,182 **|
||||||
## **17. FINANCIAL INSTRUMENTS**
The financial assets measured at amortised cost as at 31 August 2020 are in the sum of £20,910 (2019: £35,595). This comprises of other debtors and accrued income.
The financial liabilities measured at amortised cost as at 31 August 2020 are in the sum of £94,251 (2019: £549,302). This comprises of trade creditors, other creditors and accrued expenses
Page 18
## **YAVNEH FOUNDATION TRUST**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31ST AUGUST 2020**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift Aid
**Charitable activities**
Grants
**Other income**
Educational visit to Poland
Educational visits to Israel
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Educational visit to Poland
Educational visits to Israel
Sundry expenses
Contributions to Yavneh College Academy Trust
Donations in kind
Bank charges
Yeshiva visits
**Support costs**
**Governance costs**
Auditors' remuneration
Total resources expended
**Net expenditure**|31.8.20
£
**727,407**
**118,802 **
**846,209**
**71,916**
**67,710**
**-**
**67,710**
**985,835**
**77,261**
**-**
**2,159**
**903,827**
**52,948**
**419**
**-**
**1,036,614**
**7,560**
**1,044,174**
**(58,339) **|31.8.19
£
887,929
134,289
1,022,218
89,450
59,237
286,920
346,157
1,457,825
60,426
307,738
-
1,024,049
155,776
941
1,587
1,550,517
7,080
1,557,597
(99,772)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 19