Charity Number: 1110468 North Cheshire Jewish Nursery Property Trust Annual Report and Unaudited Financial Statements for the financial year ended 31 August 2024
North Cheshire Jewish Nursery Property Trust CONTENTS Page Reference and Administrative Information Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Stalements 10-13
North Cheshire Jewish Nursery Property Trust REFERENCE AND ADMINISTRATIVE INFORMATION Trustees Ginette Esterkin Philip Hodari Anthony Wagner Charity Number in England and Wales 1110468 PrSnclpal Address North cheshi Jewish Primary School St. Ann's Road North Heald Green Cheadle Stockport Cheshire SK8 4RZ Independent Examlner Steven Nixon Bsc (Hons) FCCA Langers MN Ltd Chartered Certified Accountsnts and Registered Auditors 8-10 Galley Road Cheadle Cheshire SK8 1PY PrSnclpal Bankers Lloyds TSB 223 Finney Lane Heald Green Cheadle Cheshire SK8 3PY
North Cheshire Jewish Nursery Property Trust TRUSTEES. REPORT for the financial year ended 31 August 2024 The trustees present their Trustees, Report and the unaudited financial statements for the financial year ended 31 August 2024. The financial statements are prepared in accordance with the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charilies.. Statement of Recommended Practs'ce applicable to charities prepanng their financial stalemenls in accA)rdanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Truslees. Report contains the infomation reqUId to be provided in the Trustees, Annual Report under the Statement of Recommended Practice (SORPI guidelines. The trustees of the charity are also charity trustees for the purpose of charity law and under the charity's constitution are known as members of the board of trustees. In this report the trustees of North Cheshire Jewish Nursery Propety Trust present a summary of its purpose. govemance, activities, achievements and finances for the financial year 31 August 2024. The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. Mission, Objectives and Strategy Objectives The Trust's objects, as laid out in the Trust Deed. are to provide facilities for the provision of education for children under statutory school age and to enhance the development and education of children under statutory school age. Structure, Governance and Management Structure The charity is constituted as an unincorForat8d charity, established by Trust Deed dated 2111212004, as amend8d 2210112013. The goveming document of the charity is the Trust Deed establishing the charity. There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. Tho methods used to recrult and appolnt now charlty trustees The trustees of the Trust were appointed by the trust deed from within the goveming body of the School with a proven record of commitment to education, and in particular Jewish education. Future appointments are by the trustees. All Trustees serve for a period of 3 years. with the exptIon of the first trustees who have been appointed for terms of 3, 4 and 5 years, and are eligible for re*lection. The tnjslees have the appropriate knowledge of how a charity created for educational purposes should operale. Nevertheless, consideration is currently being given to the most appropriate form of training for Irustees. The charity's organisational structure The Trustees have a once yearly meeting lo discuss issues arising from the administration of the Trust. Because the Trust employs no staff, further decisions in regard to the running of the Tru51 are made by the trustees by informal contact. Review of Activities. Achievements and Perforniance The objects of the Trust have been achieved by the Trust entering into a 125-year lease with the foundation trustees of the School of land on the campus of the School. On this land has been constructed a purp05e-designed single-slory nursery building io provide 70 places. The Trust has also provided equipment within the nursery building. The appropriate funds were raised through donations flowing from a fund-raising campaign managed by the trustees, including activities managed through the subsidiary, NCJPS Promotions Limited. A mortgage of £200,000 was oblained from Allied Irish Bank in order to provide funds lo pay the amounl due to the building contractor and other cK)sts. This has now been discharged in fijll. The majority of rent due from the North Cheshire Jewish Nursery Education Trust is to be donated back lo that trust, retaining any amount needed to pay administration fees. The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. The Trust has undertaken no activities this year.
North Cheshire Jewish Nursery Property Trust TRUSTEES. REPORT for the financial year ended 31 August 2024 Financial Review Incoming resources, which relate wholly to unrestricted funds, tolalled £30,001. Total resources expended, again wholly in respect of unrestricted funds. amounted to £34.238. Therefore the result for the year was a deficit of £4,237. The net assets at 31 August 2024 amounted to £404,915. The value of tangible fixed assets, being the nursery building amounted to £399,706. Total liabilities amounted to £924. The trustees consider the financial performance by the charity during the year to have been satisfactory. Results At Ihe end of the financial year the charity has assets of £405,839 (2023 - £409,608} and liabilities of £92412023 £4561. The net assets of the charity have decreased by £14.237). Reserrfes Position and Policy The view of the trustees is that there is no requirement to hold any significant cash reserves or other investments, because of the main objeclives of the Trust. This statement has to take inlo account the main risk issue facing the Trust as set out below. Principal Risks and Uncertainties The main risk facing the Trust is that its current tenant. the Education Trust, does not attract suffi¢ient pupil numbers. In accordance with the Constitution. the twstees retire by rotation and. being eligible. offer themselves for re-election. Compliance with Sector-wide Legislation and Standards The charity engages pro-actively with legislation, slandards and codes which are developed for the sector. North Cheshire Jewish Nursery Property Trust subscribes to and is compliant wilh the following.. The Charities SORP IFRS 102) The charlty's relatlonshlps wlth related partles. The Charity now operates in partnership with thè North Cheshire Jewish Nursery Education Trust, which provides nursery care on a day-t¢>day basis in the c¢)mplex, the building of which this Trust was fomied to achieve. The Trust also works in c¢)operation with North Cheshire Jewish Primary School in so far as its aim is to increase the number of children in that school by providing a feeder nursery. 2710612025 Approvèd by the Board of Trustees on and slgned on Its behalf by: 4 6 Sat4*• Glnette Esterkln Trustoe
North Cheshire Jewish Nursery Property Trust STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 August 2024 The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as al the financial year end date and of the surplus or deficit of the charity and otherwise comply wilh the Charities Act 2011. In preparing these financial statements, the trustees are required to= select suitable accounting policies and apply them consistently; make judgements and accounting estimates Ihal are reasonable and pnjdent. state whether the financial statements have been prepared in accordan with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards,. and prepare the financial slalemenls on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees confimi that they have complied with the above requirements in preparing the financial st8lements. The truslees 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 Charilies Act 2011. They are also sponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 2710612025 Approved by the Board of Trustees on and signed on its behalf by: 46&ta Ginette Esterkln Trustee
North Cheshire Jewish Nursery Property Trust INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF NORTH CHESHIRE JEWISH NURSERY PROPERTY TRUST I have examined the financial statements of the charity for the financial year ended 31 August 2024, which comprise the Stalemenl of Financial Activities, the Balance Sheet and the related notes. This rep¥Jrt is made solely to the charity's members. as a body. in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might compile the financial statements that I have been engaged lo compile, report to the Board of Trustees Ihal I have done so. and state those matters that I have agreed to state to them in this report and for no other purpose. To the fullesl exlenl penY)itted by law, I do not accept or assume responsibility lo anyone other than the charity and the charitys members. as a body, for my work, or for this report. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. The charity's trustees consider that an audil is not required for this financial year under Section 145 of the Charities Act 2011 and that an independent examination is required. It is my responsibility to= examine the financial stalemenls under section 145 of the Act; follow the procedures laid down by the general Directions given by the Charity Commission under section 145{5) of the Charities Act 2011.. and state whether particular matters have come to my attention. Basis of Independent examlner's report My examination was carried out in accordance with the general Directions given by the Charity Commission. An 8xamination includes a review of the accountsng records kept by the charity and a comparison of the financial statements presented wilh those records. It also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the Injslees conceming any such mallers. The procedures undertaken do not provide all Ihe evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts present a 'true and fair. viéw and thè report is limited to thos8 mattets set out in the statèment below. Independent èxaminèr's statement In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Charities Act 2011 the financial slalemenls do not accord with those accounting records the financial slalemenls do not comply wth the accounting requirements of the Charities Act the financial statements have not been prepared in accordance with the Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) there is further infomialion needed for a proper understsnding of the ac¢ounts to be reached. I have no concems and have come across no other matters in connects'on with the examination to which attention should b8 drawn in this report in order to enable a proper understanding of the financial statements to b8 r8ached. Steven Nlxon Bsc {Honsl FCCA LANGERS MN LTD Chartered Certified Accountants and Registered Auditors 8-10 Gatley Road Cheadle Cheshire SK8 1PY 27 June 2025
North Cheshire Jewish Nursery Property Trust STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 August 2024 Unrestricted Funds 2024 Total Unrestricted Funds Funds 2024 2023 Total Funds 2023 Notes Income Donations and legacies Charitable activities Nursery Investments 6,332 6,332 30.000 30,000 30,000 30,000 Total income 30,001 30,001 36,332 36,332 Expenditure Charitable aclivities 34,238 34,238 34,226 34,226 Net Incomellexpenditurel (4,237) (4,237) 2,106 2.106 Transfers between funds Net movement in funds for the financial year (4.237) (4,237) 2.106 2,106 Reconciliation of funds: Total funds beginning of the year 10 409.152 409,152 407,046 407,046 Total funds at the end of the year 404.915 404,915 409,152 409,152 The Stal8m8nt of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing actiwties. The notes on pages 10 to 13 form part of Ihe financial statements
North Cheshire Jewish Nursery Property Trust BALANCE SHEET as al 31 August 2024 2024 2023 Notes Fixed Assets Tangible assets 399,706 403,476 Current Assets Cash at bank and in hand 6.133 6,132 Credltors: Amounts falllng due wllhln one year (9241 1456) Net Currant Asséts 5,209 5,676 Total Assets less Current Liabilities 404,915 409,152 Funds General fund (unrestricted) 404,915 409,152 Total funds 10 404,915 409,152 The financial staternenls have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regime and in accordance wth FRS 102"The Financial R8POrting Standard applicable in th8 UK and Republic of Ireland" applying Section 1 A of that Standard. 2710612025 Approved by the Board of Trustees and authorlsed for Issue on behalf by and $Sgned on Its 4 6 Sdt¢¥&rf Ginette Esterkin Trustee The notes on pages 10 to 13 form part of Ihe financial statements
North Cheshire Jewish Nursery Property Trust NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 GENERAL INFORMATION North Cheshire Jewish Nursery Property Trust is a charity incorporated in England. The reglstered office of the charity is North Cheshire Jewish Primary School, St. Ann's Road North, Heald Green, Cheadle, Stockport, Cheshire. SK8 4RZ, UK which is also the principal place of business of the charity. The financial statements have been presented in Pound (£) which is also Ihe functional currency of ihe charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting pvjlicies have been applied consistently in dealing with items which are considered material in relation to the charity's financial statements. Basis of preparation The financial statements have been prepared on the going concem basis under the historical cost convention, modified to include certain ilems at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As pemiitted by the Companies Act 2006, the charity has varied the standard fomials in that act for the Statement of Financial Activities and the Balan Sheet. Departures from the standard fornals are lo comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. The Charity is public benefit entity. Statement of compliance Thè financial statements of the charity for the financial year ended 31 August 2024 have beèn prepared on the going concem basis and in accordance with the Statement of Recommended Practice {SORP} "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irèland FRS 102. applying Sèction 1A of that Standard. Fund accounling The following are the calegones of funds maintained: Unreslrlcted funds Unreslricled funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Income from charltable activlties All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified wilh reasonable accuracy. The following specific policies are applied to particular categories of income. Donated goods. facilities and servlces Donated current assets are recognised at the current fair value. All such donations are recognised as donation income, and debited to current assets. Investments Income from investments is included in the year in which it is receivable. Expendilure Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relales. Charitable expendilure comprises Ihose cosls incurred by the charity in the delivery of ils aclivilies and services for its beneficiaries. 11 includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Govemance costs are those incurred in connection with administration of the charity and compliance with constilutional and statutory requirements. 10
continued North Cheshire Jewish Nursery Property Trust NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 Tangible fixed assets and depreciation Tangible fixed assels are slated at cost or at valuation, less accumulated deprecialion. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets. less their estimated residual value, over Iheir expected useful lives as follows.. Long leasehold property Straight line over life of lease Cash at bank and In hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation and deferred taxation No current or deferred taxatson arises as the charity has been granted charitable exemption. Irrecoverable valued added lax is expensed as incurred. INCOME DONATIONS AND LEGACIES Unrestrlcted Restricted Funds Funds 2024 2023 Gifts individually more than £1000 6.332 CHARITABLE ACTIVITIES Unrestrlcted Restrlcted Funds Funds 2024 2023 Nursery: Letting of propety for charitable purp)ses 30,000 30,000 30,000 INVESTMENTS Unrestricted Restricted Funds Funds 2024 2023 Bank interest EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Olhor Cosls Support Costs 2024 2023 North Cheshire Jewish Nursery Education Trust Depreciation & Amortisation in total for the period Governance Costs (Note 4.2> 30,000 30,000 30,000 3,770 3,770 3.770 468 468 456 30,000 4,238 34,238 34,226 GOVERNANCE COSTS Direct Costs Olher Costs Support Costs 2024 2023 Independent Examinerfs fees 468 468 456 SUPPORT COSTS Charitable Govemance Activities Costs 2024 2023 Support 3,770 4,238 4,226 11
continued North Cheshire Jewish Nursery Property Trust NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 NET INCOME 2024 2023 Net Income is stated after chargingl{crediting): Depreciation of tangible assets Independent Examiner's remuneration- independent examination services 3,770 3,770 468 456 INVESTMENT AND OTHER INCOME 2024 2023 Bank interest TANGIBLE FIXED ASSETS Long leasehold property Total Cost At 31 August 2024 463,704 463,704 Depreclatlon At 1 September 2023 Charge for the financial year 60,228 3,770 80,228 3.770 At 31 August 2024 63,998 63,998 Net book value At 31 August 2024 399,706 399,706 At 31 August 2023 403,476 403,476 CREDITORS Amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals and deferred income 456 468 456 924 456 RESERVES 2024 2023 At the beginning of the year (Deficilllsurplus for the financial year 409,152 {4,237) 407.046 2,106 At the end of the year 404,915 409,152 12
continued North Cheshire Jewish Nursery Property Trust NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 August 2024 10. FUNDS 10.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Total Funds At 1 Seplember 2022 Movement during the financial year 407,046 2,106 407,046 2.106 At 31 August 2023 Movement during the financial year 409.152 14.237) 409,152 {4,237) At 31 August 2024 404,915 404,915 10.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 September 2023 Income Expendlturè Transfers between funds Balancé 31 August 2024 Unreslrlcted funds Unreslricled General 409.152 30.001 34.238 404,915 Total funds 409,152 30,001 34,238 404,915 Unreslrlcted Revenue Funds These funds are held for the meeting the objectives of the charity, and to provide reserves for future activities, and, subject to charity legislation. are free from all restrictions on their use. 10.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current Total Unreslricled general funds 399,706 6,133 1924) 404,915 399.706 6,133 1924) 404,915 11. TRUSTEES. REMUNERATION No Irustees or persons connected with them received any remuneration or expenses from the charity, or any related entity. 12. RELATED PARTY TRANSACTIONS North Cheshire Jewish Nursery Education Trust During the year £30,IKIO {2023 £30.000) rent was received from the Educalion Trust and a £30.000 (2023 £30,000) donation was paid lo the Education Trust. 13. POST4ALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial year*nd. 14. WINDING UP OR DISSOLUTION OF THE CHARITY If upon winding up or dissolution of the charity the remain any assets, after the satisfaction of all debts and liabilities. the assets represented by the accumLJlated fund shall be transferred to some other charitable body or bodies having similar objects to the charity- 13