Registered number: 06000294
Charity number: 1117515
NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

NANCY REUBEN PRIMARY SCHOOL
IA Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Trustees, Report
Independent Auditors, Report on the Financial Statements
Statement of Financial Activities
7-11
12
Balance Sheet
13-14
Statement of Cash Flows
15
Notes to the Financial Statements
16-29

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
Trustees
Dayan A David
Reuben Foundation whose Trustees are..
S D Reuben
R D Reuben
J A Reuben
R Slone
D L Reuben
J H Reuben (appointed 11 November 20241
E Sawyer (resigned 1 November 20241
Company registered
number
06000294
Charity registered number 1117515
Registered office
4th Floor
Millbank Tower
21-24 Millbank
London
SW1 P 4QP
Independent auditors
Adler Shine LLP
Chartered Accountants
Aston House
Cornwall Avenue
London
N3 1LF
Page 1

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The trustees who are also the directors for the purposes of company law, present their report together wth the
audited financial statements of the Charity for the year ended 31 August 2024.
The accounts have been prepared in accordance with the accounting policies set out in the notes to the
accounts and comply with the charitable company's governing document, the Companies Act 2006 and the
Statement of Recommended Practice {SORP) 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
2019).
Objectives and activities
The objects of the charity are to advance and promote for the public benefit Jewish religion and culture as well
a5 religious studies understanding by providing educational facilits'es abnd services for Children up to the age of
eleven years.
In order to achieve these objeclives the charity operates an independenl primary school which offers a safe and
supportive environment for the education of Ihe children of the Jewsh faith. The school gives them a good
grounding to progress into secondary school.
The school's aims are to give a balanced curriculm of both secular and religious studies. The ethos of the school
is the slrong belief that ignorance causes many of the difficulties in society today and therefore the aim is that all
of their pupils leave school as an example of living and celebrating diversity.
The Trustees confirm that they have given careful consideration to the Charity Commission's general guidance
on public benefit in deciding what activities the charitable company Should undertake. The charity has a specific
policy whereby bursaries are paid in the form of reduced fees to pupils who come from disadvantaged families in
the Jewish community. Bursaries awareded in the year under review were £49,380 (2023.. £30.910)
Achievements and performance
Nancy Reuben Primary School INRPSI is an orthodox Jewish, independent, non-seleclive school for boys and
girls aged 2 to 11. NRPS strives for academic excellence whilst endeavouring to create a caring and nuturing
environment that will ensure the spiritual, moral and academic growth of each and every child in a Jewish
framework.
We inspire in our children a love of learning and a desire to acquire knowledge which extends to both secular
and Jewish studies. We take great pride in the diversity of our pupil backgrounds and aim to create a community
in the school which understands and values individual tradits'ons and Gustoms.
The school continues to go from strength to strength both academically and in the community sense and our
intake for September 2025 is full, with a waiting list.
In June 2019, the school joined the Independent Schools Association (ISA). Founded in 1878, the ISA
represents the interest of 690 members leading the best independent schools across the UK and beyond. ISA
embers value innovation and inspiration, integrity and high standard, hard work and responsibility.
Accreditation is only awarded to Heads if their schools meet the highest standards including rigorous inspection.
Page 2

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and performance (continued)
Success through Academic results
Although nol obliged to perform national standardised tests, we benchmark the education of our children against
these to ensure that we remain above national expectations and to allow parents to compare the quality of the
education that we offer with other schools. GL Assessments are performed from Year 1 to Year 6 and are
marked and verified externally. We then track the performance and progress of our pupils from their point of
entry as they go through the school.
It is worth noting that entry to NRPS is not based on academic ability. There is no entrance exam. Graduates of
NRPS are able to go on to the secondary school of their choice. A significant proportion of our pupils continue
their education at Hasmonean, JFS or Immanuel College as their families choose to keep their schooling in a
Jewish environment. A number of families opting for alternatives in the private sector have seen their children
obtain places and sometimes scholarships at Haberdasher, Aske's Boys School, North London Collegiate
School, Haberdashers, Aske's Girls School and Immanuel College. Our graduates are consistently in top sets
and performing well in whichever school they transfer to at age 11.
Whilst academic success is important it is not our only measure of success. It is of vital importance to us and our
pupils that NRPS operates as a community and a family and in an environment that helps children to grow into
confident and responsible individuals. Central to our ethos is that children learn a sense of social responsibility,
responsibility for each other, the wider community and themselves.
Within the school a sense of responsibility is conveyed to the children through empowerment and friendship.
There are many initiatives developing pupils, sense of responsibility.
The Star of the Week initiative rewards children from each class in assembly (not just for academic success)
who celebrate their success wth the Head Teacher each week at a Tea Party. Our school has a significant
number of varied after school enrichment clubs such as sports, cookery, coding, theatre and Early Years
performing arts and ballet.
To develop an understanding and acceptance of diversity, we teach our children about different countries, and
cultures. Further, we teach Modern Hebrew (Ivrit) as a modern foreign language.
Externally, our children participate in wider community activities inclduing taking gifts to. and singing in local
Jewish Residential Care Homes and competeing against other Jewish schools in the Etgar challenge. In
addition, our children are empowered to select charits'es and raise funds e.g. for the Jewish Care Purim Zumba.
NRPS is fortunate to have a strong and active parent body that values the education given to their children and
help where possible to contribute to the success of their children and the school as a whole. They contribute in
variety of ways including volunteering to read with children and helping with school outings.
The PTA organise both several fundraising events annually and occasions for parents to soGialise. Our parent
body practices and reinforces the values of the school by showing kindness and charity to others in need within
the school. For example, meal rotas are often organised to help parents through difficult periods of time be it due
to ill health, the loss of a family member or the birth of a new baby.
Page 3

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and p8rfomiance {continued)
We are very privileged to have wonderful staff, who work closely together and with parents to ensure that the
academic standards and the welfare of the children is maintained.
The school, parents and pupils know that the continued success of our school is due to the generosity of our
benefactors the Reuben Foundation and the Od Ysef Hai Community and we look fomard to their continued
support in developing the school further.
Financial review
Total income received was £2,027,57212023'. £1,834,074). Income from school fees amounted to £1,009,103
(2023.. £906,121) an increase of 11 D/.. Donations received amounted to £630,586 (2023.. £582,501) of which
£500,000 (2023.. £500,000) related to donations from the Reuben Foundation.
Total expenditure amounted to £1,926,80712023'. £1,929,292). The main element was staff costs of £1,228,618
12023.. £1,269,663). The net surplus for the year was £100.76512023'. net expenditure £95,218).
Reserves pollcy
The charity holds free reserves amounting to £306,466 (represented by general Lsnrestricted funds less
deduction for fixed assets). These reserves are fequired to be retained to fi'nance the ongoing working capital
requirements of the school.
After a challenging period the Trustees have restored the school to comprartive financial health with the
continued support and assistance of the Reuben Foundation. Even though the charity had free reserves as
stated above such support is likely to continue to be required in order to maintain this position as the budget for
the current year shoes a projected deficit.
Designated funds held at the balance sheet date were £229,505 representing funds set aside for school building
improvements.
Structure, governance and management
Nancy Reuben Primary School is registered as a charitable company limited by guarantee, and was set to
provide educational facilities for Jewish children in North London. The Charitable company is governed pursuant
to its memorandum and articles of association. The charitable Gompany commenced its activities on 1
September 2008.
The Trustees, ￿0 are also the directors for the purposes of company law, and who served during the year are
show on page 1.
The Trustees may at any time co-opt any individual that they select to be a Trustee with such appointment
lasting to the next annual general meeting. They may also formally appoint additional Trustees on a permanent
basi5 at any time.
None of the Trustees has any beneficial interest in the charity. All of the Trustees are members of the charity and
guarantee to contribute £10 in the event of a winding up.
Page 4

NANCY REUBEN PRIMARY SCHOOL
IA Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Structurep governance and management (continued)
The current Trustees are appraised of new developments in charity law and practice. All new Trustees are
provided wrth all relevant information appertaining to its affairs to ensure that they can understand and meet the
responsibilities the role entails.
The charity and the school are run by a Governing Council that maintains control of the funds retained and are
solely responsible for their disbursement. The Governing Council consists of a representative of the Trustees
and additional governoers appointed including from the local community. A list of the current Governing Council
can be found on the school's website.
The Headteacher, Rabbi Joshua Conway has the responsibility for the day to day running of the school and
reports formally to the Governing Council on all matters relating to the school.
The Board has examined the principal areas of the Charity's operations and considered the major risks faced in
each of these areas. The review and assessment of the position was carried out in Gonjunction with the
Foundation's auditors, with specific reference to the internal contro15 required, to ensure the followng criteria
were met'.-
Comprehensive strategic planning
Comprehensive budgeting and management accounts
Established organisational structure & lines of reporting wth clear authorisation & approval procedures
In the opinion of the Trustees Ihe Charity has established suitable system which, under normal conditions,
should allow these risks to be mitigated to an acceptable level in its day-to-day operations.
Page 5

NANCY REUBEN PRIMARY SCHOOL
(A Company Llmited by Guarantee)
TRUSTEES, REPORT (CONTINUED}
FOR THE YEAR ENDED 31 AUGUST 2024
Stat&ment of Truste6s' respon$ibllltlo8
The Tru5te8s (who are also th8 directors of the Charity for the purposes of cotnpany law) are responsib56 for
preparing the Truste6s' Report and th8 financlol statements in accordance WIUI applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Awounting Practicè).
Company law requires the Trustées to prepare financial statements for each financial year. Under company law,
the Tnjstees must not approve the financial statem8nts unless they are satisfied that they give a true and fair
view of the state of affairs of the Charily and of its incoming resources and application of resour￿5, including its
income and expenditure, for that period. In preparlng these financiel statem8nts. the Trust8es ar8 required to:
se18Ct suitable accounting polities and then apply them consistently,
observe the methods and principles of the Charities SORP (FRS 102)-
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any materlal
departures disclosed 8nd explained in the financlal statements.,
pr6pare the financial statements on the going Goncem basis unless it is Inappropriate to presume that the
Charity will contlnua in business.
Th8 Trust8es are responsible for keeplng adequal8 a￿oUntIng records that are sufficient to show and explaln
the Charity's transactions and disclose wth reasonabl6 accuraw al any time the financial position of the Charity
and enable them to f3nsure that the financial statements comply with the Comp8ni8s Act 2006. They ar8 abo
respon5ibl8 for safeguarding th8 assets of thé Charity and hence for tsking reasonable steps for tre prevention
and detection of fraud and other irregularitles.
Disclosure of inforniation to audltors
Each of the p6rsons who arè Trustées at the time when this Trustees, R8POrt is approv8d h85 conffirm8d that:
so far as that Trustée is aware. therp is no relevant audit information of which the charlty's auditors are
unaware, and
that Trustee has taken all th8 Steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitys audltor5 are aware of that infomiation.
Audltor8
In accordance with the Gharws articles. a resolution proposing that Adler Shine LLP be r8appointed as auditor of
the charity will be put to a General Meeting.
Approved by ord8r of the members of the board of Twstees and slgned on their behalf by-
Dayan A David
Date: li
Page 8

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL
Opinion
We have audited the financial statements of Nancy Reuben Primary School (the 'charity') for the year ended 31
August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash
Flows and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law & United Kingdom Accounting Standards,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK & Republic of
Ireland, (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 31 August 2024 and of its
incoming resources and application of resource5, 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 )Mth the requirements of the Companies Act 2006.
Basi5 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 United Kingdom,
including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial slatements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least ￿e1ve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
Page 7

NANCY REUBEN PRIMARY SCHOOL
(A Company Limlted by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL
{CONTINUED)
Other infomiation
The other information comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the exlent otherwse explicitly stated in our report, we do not express any form of assurance conclusion
thereon. Qur responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the course of the
audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatemenl of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion 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.
the Trustees, Report has been prepared in accordance wth applicable legal requirements.
Matters on which we are required to report by exception
In the light of our kno￿edge 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 matter5 in relation to which Companies Act 2006 requires
us to report to you if, in our opinion..
adequate accounling 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., or
the Trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the Trustees, Report and
from the requirement to prepare a Strategic Report.
Page 8

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL
(CONTINUED)
Responsibilities of trustèes
As explained more fully in the Trustees, Responsibilities Statement, 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.
Page 9

NANCY REUBEN PRIMARY SCHOOL
IA Company Llmited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL
(CONTINUED)
Auditors, responsibilities for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misststement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wth ISAS {UK} will always detect a material misststement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below..
We identify and assess the risks of material misstatement of the financial statements, )thether due to fraud or
error, and then design and perfom) audit procedures responsive to those risks, including obtaining audit
evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material rnisstatement in respect of irregularities, including fraud and non-
compliance wth laws and regulations, we have..
considered the nature of the industry and sectors, control environment and business performance.,
made enquires of management about their own identification and assessment of the risk of irregularities.,
performed audit work over the risk of management override of controls, including testing of journal entries
and other adjustments for appropriateness and reviewing accounting ests'mates for bias.,
undertaken appropriate sample based lesting of bank transactions.,
identified and evaluated compliance with relevant laws and regulations and made enquiries of any
instances of non-compliance..
discussed matters among the audit engagement team regarding how and where fraud might occur in the
financial statements and potential indicators of fraud.
Because of the inherent limitation5 of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we wll be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional Goncealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for Ihe audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Page10

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarant88)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL
(CONTINUED)
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance wth 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 trustees those matters we are required to state to them in an Auditors, Report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this report. or for the opinions we
have formed.
Sonia Yeshin (Senior Statutory Auditor)
for and on behalf of
Adler Shine LLP
Chartered Accountants
Statutory Auditor
Aston House
Cornwall Avenue
London
N3 1LF
Date.. 23/0512025
Page11

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacieg
Charitable activities
630,586
1,352,616
8,904
35,466
630,586
1,352,616
8,904
35,466
582,501
1, 182.013
4, 598
64,962
Investments
Other income
Total income
2,027,572
2,027,572
1,834.074
Expenditure on:
Raising funds
Charitable activities
41,872
1,884,935
41,872
1,884,935
29,441
1,899,851
Total expenditu
1,926,807
1,926,807
1,929,292
Net movement in funds
100,765
100,765
(95,218)
Reconcillation of funds:
Total funds brought forward
Nel movement in funds
435,207
100,765
435,207
100,766
530.425
(95.218)
Total funds carried fonNard
535,972
535,972
435,207
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 16 to 29 form part of these financial statements.
Page 12

NANCY REUBEN PRIMARY SCHOOL
(A Company Ltmited by Guarante8)
REGISTERED NUMBER: 06000294
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Fixed assets
Tangible assets
14
79.028
99,514
79,028
99,514
Current assets
Debtors
15
21,387
673,247
15,290
541,436
Cash at bank and in hand
694,634
1237,691)
556, 726
Creditors". amounts falling due within one year
16
(221,033)
Net current assets
456,943
335,693
Total assets less current liabilities
535,971
435,207
Net asset5 excluding pension asset
535,971
435,207
Total net assets
535,971
435, 207
Charity funds
Restricted fund$
Unrestricted funds
18
18
535,971
435, 207
Total funds
535,971
435,207
Page 13

NANCY REUBEN PRIMARY SCHOOL
{A Company Limlted by Guarantee)
REGISTERED NUMBER: 06000294
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024
The entity was entitled to exemption from audit under section 477 of the Companies A¢t 2006.
Th8 members have not required the entity to obtain an audit for the year in question in accordanGe with secllon
476 of the Companles Act 2006.
However, an audit is required in accordance with sectlon 144 of the Charities Act 2011.
The Trusteés acknowledge their responslbilities for complwng with the requlrements of the Act wlth respect to
accounting records and preparation of fin8nclal stat8ments.
The finanGial statements have been prepared in accordance with the provisions applicable to entities subject to
th8 small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signad on th8lr behalf by:
Dayan A Davld
Date:
The notes on pagas 16 to 29 form part of these finandal statements.
Page 14

NANCY REUBEN PRIMARY SCHOOL
IA Company Limlted by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Cash flows from operating activities
Net cash used in operating activities
131,769
23,915
Cash flows from investing activities
Purchase of tangible fixed assets
Interegt receivable
(8,862)
8,904
(67,864)
4, 598
Net cash provided byl(used in) investing activities
42
(63,266)
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents al the beginning of the year
131,811
541,436
139,351 >
580, 787
Cash and cash equivalents at the end of the year
673,247
541,436
The notes on pages 16 to 29 form part of these financial statements
Page 15

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
General infomiation
Nancy Reuben Primary School is a public benefit entity and a private company limited by guarantee,
registered in England and Wales. The address of the registered office is 4th Floor, Milbank Tower, 21-24
Millbank, London, SW1P 4QP.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021
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 IFRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 1021 and Ihe Companies Act 2006.
Nancy Reuben Primary School meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Golng concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that
the charitable company has adequate resources to continue in operational existence and meet their
liabilities as they fall due for the forseeable future.
The Reuben Foundation has also indicated their continued support and as such the Trustees believe
that it is wholly acceptable to prepare the accounts on the going concern basis.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the charitable
company has been notified of the donation, unless performance conditions require deferral of the
amount.
Income lax re¢overable in relation to donations received under Gift Aid or deeds of covenant is
recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided or on completion of the service.
Page 16

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarante8)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third party, it is probable that a Iransfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs thich are
not attributable to a single activity are apportioned between those aclivities on a basis consistent wth
the use of resources. Central staff casts are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made excepl in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a
commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.6 Tangible fixed assets and d8preciation
Tangible fixed assets are initially recogni5ed at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into rts intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following basis..
Leasehold iTnprovernents
Fixtures, fittings & equipment
200A straight line
250kn reduang balance
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Page17

NANCY REUBEN PRIMARY SCHOOL
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies (continued)
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabililies are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be eslimated reliably.
Liabililies are recognised at the amount that the Charity anticipates it wll pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured al the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material. the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects Ihe risks specific to the liability. The
unwnding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value w7th the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.11 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
2.12 Taxation
The charity is exempt from taxation on its activities which fall within the scope of part 10 ITA 2007
and section 256 of the Taxation of Chargeable Gains Act 1992.
2.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and ￿lch have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 18

NANCY REUBEN PRIMARY SCHOOL
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
630,586
630,586
582,501
Income from charitabl8 activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Fees receivable
1,009,103
303,869
39,644
1,009,103
303,869
39,644
906, 121
238,018
37,874
Local aulhonty income
Other income
1,352,616
1,352,616
1,182,013
Investhient incom8
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Bank interest receivable
8,904
8,904
4,598
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
PTA Fundraising
35,466
35,466
64,962
Page 19

NANCY REUBEN PRIMARY SCHOOL
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Expenditure on raising funds
Costs of raising funds
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Other fundraising costs
41,872
41,872
29,441
Analysis of grants
Grants to
Individuals
2024
Total
funds
2024
Total
funds
2023
Grants to individuals
49,380
49,380
30,910
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Total
2023
Direct costs
1,884,935
1,884,935
1,899,851
Page 20

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10.
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Grant
funding of
activities
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Direct costs
1,817,158
49,380
18,398
1,884,936
1,89g,851
Analysis of direct costs
Total
funds
2024
Tofal
funds
2023
Activities
2024
staff costs
1,228,618
29,348
121,634
61,835
70,222
78,729
37,168
47,721
19,739
65,897
35,307
20,940
1,228,618
29,348
121,634
61,835
70,222
78,729
37,168
47,721
19,739
65,897
35,307
20,940
1,269,634
35,426
It7,799
44.282
60,051
66, 140
31,376
51, 748
20,012
103,507
30,829
19,274
Depreciation
Establishment costs
Educational supplie5
School trips & sports activities
Security
Office costs
Repairs & maintenan
Legal, professional & bookkeeping
Bad debt write-off
Sundry expenses
Computer expenses
1,817,158
1,817,158
1,850,078
Page21

NANCY REUBEN PRIMARY SCHOOL
(A Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysis of èxpenditure by activities (continued)
Analysis of support Costs
Governance
costs
Total
funds
2024
Total
funds
2023
2024
Audit fees
12,271
5,947
180
12,271
5,947
180
12, 128
6,611
124
Legal & professional
Bank charges
18,398
18,398
18,863
11.
Auditors. remuneration
2024
2023
Fees payable lo the Charitls auditor for the audit of the Charity's annual accounts
12,000
12,128
12.
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
1,107,099
94,791
26,728
1, 140,030
98,789
30,815
1,228,618
1, 269, 634
The average number of persons employed by the Charity during the year was as follow5..
2024
2023
Teachers
10
29
15
26
Support staff
Adminislralion
Site staff
43
44
Page 22

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
12.
Staff Gosts {Gontinued)
The number of employees whose employee benefits (excluding employer pension costs) exceeded
£60,000 was..
2024
No.
2023
In the band £80,001 - £90,000
In the band £100.001 £110,000
13.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 August 2024, no Trustee expense5 have been incurred (2023- £NIL).
14.
Tangible fixed assets
Short-temi
leasehold Fixtures and
property
fittings
Total
Cost or valuation
At 1 September 2023
Additions
60,774
373,727
8,862
434,501
8,862
Al 31 August 2024
60,774
382,589
443,363
Depreciation
At 1 September 2023
Charge for the year
60,774
274,213
29,348
334,987
29,348
At 31 August 2024
60,774
303,561
364.335
Net book value
Al 31 August 2024
79,028
79,028
At 37 August 2023
99,514
99,514
Page 23

NANCY REUBEN PRIMARY SCHOOL
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
15.
Debtors
2024
2023
Due within one year
Trade debtors
7,909
13,478
1,812
13,478
Prepayments and accrued income
21,387
15,290
16. Creditors: Amounts falling due within one year
2024
2023
Trade creditors
52,268
13,736
171,687
16,736
26, 540
177,757
Other taxation and social security
Other creditors
237,691
221,033
17.
Financial instruments
2024
2023
Financial assets
Financial assets measured at fair value through income and expenditure
673,247
541,436
Financial assets measured at fair value through income and expenditure comprise bank balances
Page 24

NANCY REUBEN PRIMARY SCHOOL
{A Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18.
Statement of funds
Statement of funds - current year
Balance at 1
September
2023
Balance at
31 August
2024
Transfers
inlout
Income Expenditure
Unrestricted funds
Designated funds
Building Improvements
229,565
(60)
229,505
General funds
General Funds
205,642
2,027,572
{1,926,8081
60
306,466
Total Unrestricted funds
435,207
2,027,572
11,926,808)
535,971
Page 25

NANCY REUBEN PRIMARY SCHOOL
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
18. Statement of funds (continued)
ststement of funds - prior year
Balance at
1 September
2022
Balance at
31 August
2023
Income Expenditure
Unrestricted funds
Designated funds
Building Improvements
229, 565
229, 565
General funds
General Funds
300, 860
1, 778.842 (1,874,060)
205, 642
Total Unrestricted funds
530,425
1, 778,842
(1,874,060)
435,207
19. Summary of funds
Summary of funds - current year
Balance at 1
September
2023
Balance at
31 August
2024
Tran5fer5
inlout
Income Expenditure
Designated funds
General funds
229,565
205,642
(60)
60
229,505
306,466
2,027,572
(1,926,8081
435,207
2,027,572
11,926,8081
535,971
Page 26

NANCY REUBEN PRIMARY SCHOOL
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
19. Summary of funds Icontinuedl
Summary of funds - prior year
Balance at
I Seplember
2022
Balance at
31 August
2023
Income Expenditure
Designated funds
General funds
229,565
300,860
229, 565
205, 642
1,778,842 (7,874,060)
530,425
1,778,842
(1,874,060)
435, 207
20. Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Current assets
79,028
79,028
694,634
694,634
(237,691) 1237,691)
Creditors due within one year
Total
535,971
535,971
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed 8s$ets
Current assets
99,514
556, 726
(221, 033)
99,514
556, 726
(221, 033)
Creditors due wthin one year
Total
435,207
435,207
Page 27

NANCY REUBEN PRIMARY SCHOOL
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
21.
Reconciliation of net movement in funds to net cash flow from operating activitiès
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Activities)
100,765
(95,218)
Adjustments for:
Depreciation charges
Decreasellincreasel in debtors
Increase in creditors
Investment income
29,348
(6,098)
16,658
(8,904)
35.426
83,537
4. 768
(4, 598)
Net cash provided by operating activities
131,769
23,915
22.
Analysis of cash and Gash equivalents
2024
2023
Cash in hand
673,247
541.436
Total cash and cash equivalents
673,247
541,436
23.
Analysis of changes in net debt
At1
September
At31
2023 Cash flows August 2024
Cash al bank and in hand
541,436
131,811
673,247
541,436
131,811
673,247
24.
Pension commitm8nts
The charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the charity to the fund and amounted to £26,72812023- £30,815).
Page 28

NANCY REUBEN PRIMARY SCHOOL
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
25.
Related party transactions
During the year the charity entered into the following transactions with related parties..
2024
2023
Rent paid lo Od Yosef Hai Yeshiva College of Rabbinical Studie$
Donation from the Reuben Foundation
48,000
500,000
9,500
42,000
500,000
9,500
Salary paid to close family member of the trustee Dayan A David
557,500
551,500
Dayan A David is a trustee of the registered charity Od Yosef Hai College of Rabbinical Studies. No
formal lease exists under thi5 arrangement at present.
Page 29