Charity Registration No. 1109688
Company Registration No. 5416275 (England and Wales)
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED
TRUSTEES’ REPORT AND UNAUDITED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2020
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| TRUSTEES | Mr Anthony Adler |
|---|---|
| Mr Benjamin Zwiebel | |
| SECRETARY | Mr Anthony Adler |
| CHARITY NUMBER | 1109688 |
| COMPANY NUMBER | 5416275 |
| PRINCIPAL ADDRESS | Arbiter House |
| Wilberforce Road | |
| London | |
| NW9 6AX | |
| REGISTERED OFFICE | C/o 75 Maygrove Road |
| West Hampstead | |
| London NW6 2EG | |
| ACCOUNTANTS | Goldwins |
| 75 Maygrove Road | |
| West Hampstead | |
| London NW6 2EG |
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED
CONTENTS
| Trustees’ report Independent examiner’s report Statement of financial activities Balance sheet Notes to the accounts |
Page 1-2 3 4 5 6 - 8 |
|---|---|
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED
TRUSTEES’ REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2020
The Trustees present their report and accounts for the year ended 30 November 2020.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102- effective 1 January 2015- (Charities SORP FRS 102).
Structure, governance and management
The company is limited by guarantee and has no share capital.
The Trustees, who are also the directors for the purpose of company law and who served during the year were:
Mr Anthony Adler Mr Benjamin Zwiebel
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Objectives and activities
The company was incorporated on 6 April 2005 and its principal activity is primary education.
Financial review
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
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BEIS SOROH SCHNEIRER BUILDING FUND LIMITED STATEMENT OF TRUSTEES’ RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2020
The Trustees, who are also the directors of Beis Soroh Schneirer Building Fund Limited for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing the accounts, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent; and
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prepare the accounts on the going concern basis unless it is inappropriate to presume that will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts will 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.
On behalf of the board of Trustees on 4 November 2021.
Mr Anthony Adler Trustee
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BEIS SOROH SCHNEIRER BUILDING FUNDING LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2020
______________
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2020.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000, I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
4 November 2021
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BEIS SOROH SCHNEIRER BUILDING FUND LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2020
| 2020 | 2019 | |||
|---|---|---|---|---|
| Note | £ | £ | ||
| Income from: | ||||
| Donations receivable | 2 | 178,000 | 1,500 | |
| Investment income | 3 | 210,000 | 235,000 | |
| _ | _ | |||
| Total income | 388,000 | 236,500 | ||
| _ | _ | |||
| Expenditure on: | ||||
| Charitable activities: | ||||
| Primary education | 114,963 | 277,003 | ||
| _ | _ | |||
| Total expenditure | 4 | 114,963 | 277,003 | |
| _ | _ | |||
| Net income/(expenditure) for the year | 273,037 | (40,503) | ||
| Funds balances at 1 December 2019 | 1,967,039 | 2,007,542 | ||
| _ | _ | |||
| Funds balances at 30 November 2020 | 2,240,076 | 1,967,039 | ||
| ====== | ====== |
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BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020
| BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020 |
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020 |
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020 |
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020 |
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020 |
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2020 |
|---|---|---|---|---|---|
| _____________ | |||||
| 2020 | 2019 | ||||
| Note | £ | £ |
£ | £ |
|
| Fixed assets | |||||
| Tangible assets | 7 | 3,619,495 | 3,455,135 | ||
| Current assets | |||||
| Debtors | 8 | 291,830 | 220,935 | ||
| Cash at bank and in hand | 55,498 | 6,953 | |||
| _ | _ | ||||
| 347,328 | 227,888 | ||||
| Liabilities | |||||
| Creditors: amounts falling due | |||||
| within one year | 9 | (2,850) | (2,700) | ||
| _ | _ | ||||
| Net current assets | 344,478 | 225,188 | |||
| __ | __ | ||||
| Total assets less current liabilities | 3,963,973 | 3,680,323 | |||
| Creditors: amounts falling due | |||||
| after more than one year | 10 | (1,723,897) | (1,713,284) | ||
| __ | __ | ||||
| Net assets |
2,240,076 | 1,967,039 | |||
| ======= | ======= | ||||
| Income Funds | |||||
| Unrestricted Funds | 2,240,076 | 1,967,039 | |||
| __ | __ | ||||
| 2,240,076 | 1,967,039 | ||||
| ======= | ======= |
The Charity's financial statements have been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime. The Trustees consider that the Charity is entitled to exemption from the requirement to have an audit under the provision of section 477 of the Companies Act 2006("the Act") and members have not required the Charity to obtain an audit for the year in question in accordance with section 476 of the act. The Trustee acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Mr Anthony Adler Trustee
4 November 2021
Company Registration No. 5416275
5
BEIS SOROH SCHNEIRER BUILDING FUND LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2020
1 Accounting policies
1.1 Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statements 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 2015)- (Charities SORP FRS 102) and the Companies Act 2006. The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
1.1 Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
1.2 Tangible fixed assets and depreciation
No depreciation is provided in respect of freehold land.
| 2 3 4 |
Donations receivable 20202019 £ £ Donations and gifts 178,000 1,500 ====== ===== Investment income 2020 2019 £ £ Rental income 210,000 235,000 _ _ 210,000 235,000 ====== ===== Total resources expended 2020 2019 £ £ Charitable activities Primary education Activities undertaken directly 111,123 273.911 Governance costs 3,840 3,092 _ _ 114,963 277,003 ====== ====== |
|---|---|
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BEIS SOROH SCHNEIRER BUILDING FUND LIMITED NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2020
5 Trustees
None of the Trustees (or any persons connected with them) received any remuneration during the year.
6 Employees
There were no employees during the year.
7 Tangible fixed assets
| 7 | Tangible fixed assets | ||
|---|---|---|---|
| Land and | |||
| building | |||
| £ | |||
| Cost | |||
| At 1 December 2019 | 3,455,135 | ||
| Additions in the year | 164,360 | ||
| __ | |||
| At 30 November 2020 | 3,619,495 | ||
| Depreciation | |||
| At 1 December 2019 and at 30 November 2020 | - | ||
| __ | |||
| Net book value | |||
| At 30 November 2020 | 3,619,495 | ||
| ======= | |||
| At 30 November 2019 | 3,455,135 | ||
| ======= | |||
| 8 | Debtors | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Beis Soroh Schneirer school | 291,830 | 220,935 | |
| _ | _ | ||
| 291,830 | 220,935 | ||
| ====== | ====== |
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BEIS SOROH SCHNEIRER BUILDING FUND LIMITED NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2020
_____________
| 9 | Creditors: amounts falling due within one year | ||
|---|---|---|---|
| 2020 | 2019 | ||
| £ | £ | ||
| Accruals | 2,850 | 2,700 | |
| _ | _ | ||
| 2,850 | 2,700 | ||
| ====== | ====== | ||
| 10 | Creditors: amounts falling due more after one year | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Bank loans (secured) | 1,723,897 | 1,713,284 | |
| ======= | ======= | ||
| Not wholly repayable within five years | 1,723,897 | 1,713,284 | |
| ======= | ======= |
11 Related party transactions
The charity was owed £291,830 (2019: £220,935) by Beis Soroh Schneirer school, a charity in which Mr Anthony Adler is a trustee.
8