RegisteT8d number. 06000294 Charity nurnbor: 1117515 NANCY REUBEN PRIMARY SCHOOL (A Company Limlted by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 NANCY REUBEN PRIMARY SCHOOL IA Company Limlted by Guarantse) CONTEpirs Page R8feren¢a and PAlministrative Dotslls of tho Charity. its Trustees and Advisers Trustees. Roport Independent AudStors' Report on the Finanetal Stotgments ststèment of Financlal Acdvltles 7-11 12 Balanco Sheet 13-14 statement of Cash Flows Notss to the Financlal Statsmonts 15 16-29 NANCY REUBEN PRIMARY SCHOOL (A Company Limlted by Guarantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARtrY. ￿S TRUSTEES AND ADVISERS FOR THE YE4R ENDED 31 AUGUST 2025 Trustees Day￿ A Damd Reub8n Fcyjndation whLW Trustees are: S D Reuben R D Reuben J A Rwben R Stone D L Reuben J H Reuben (appoin￿￿ 11 November 20241 E Sa%w {resTryned 1 November 2024) Company registered number 060IY)294 Chartiy registered numb8r 1117515 Registered office 4th Fhjor Millbank Tower 21-24 Millbank London SW1P4QP Independent auditLYS ler shir￿ LLP Chartered ALXa)untsnts Statutory Auditry Aston Housè Comwafj Avenu8 London N3 1LF Pagg 1 NANCY REUBEN PRIMARY SCHOOL (A Company Llmited by Guarantee} TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Tha truslees who are also the dtrectors for the PUfPM)$8s of (Z￿￿panY law, present their report together w5th the audited fin8nual statements of the Charity for the year ￿ded 31 August 2025. The accounts have beèn prepared In aco)rdanc& with th8 a¢￿unti￿J p)litxs set out in the r￿tr5 to the accounts and comply with the charitabl8 companls goveming docxjment, the Compani8s Act 2006 and the Statement of Recommended practi￿ ISORP) appI1(ab￿ to chariti8s preparing thèir accounts in accordance with the Financial Reporting Standard appli(3ble in the UK and Republic of Ireland {FRS102) leffethe 1 January 20191. ObJÉctNe8 and actiyftlos The objects of th6 charity are to advan(* and pr￿Ote for the publ￿ benefit Jwsh religion and cutiura as w911 as religious studies understanding by provKIlr￿ ￿v¢?￿onal facil￿￿5 abnd seTriw for children up to the ag8 of 05w8n years. In order to achieve these obje¢tNes the (tsrity opwates an in￿)endent primary school which offers a safe and supportive envir￿rnent for the education of the L*iklren of the Jewsh faith. The school gives them a gc¥)d groundiry to WI￿reSs into secondary schLK)l. The schwl's aims a￿ to give 8 balanc&J Curr[￿lM of both s￿lar arKI rdigi¢yJs skndi8s. The ethos of the sthool is the strong ￿lief that ignorance causes many of difftulti8S ir) society today and therafore the aim Is that all of their pupils leave schLK)l as an example of livtng and celeLwattng divers"ty. The Trustees confimi that they have gNen careful consideration to tho Charity Commission's general guldance on public benefft in decidlng what aCtmti￿ the diaritab￿ c(Mnpany shoukd urKlertake. The chamty ha5 8 spectfic polywhereby bursarw are paid in the fomi of WIU￿￿ fees to pupils who come from dlsadvantaged families in th8 J8vAsh (x)mrnuntty. Bursaries awareded in the yw under were £123.588 (2024: £49.380) A¢higvemènts and porft>rniance Nancy Reub8n Primary Sthol {NRPS} is an rythodox Jewish, independent, Th)TrseI￿lve school for boys and girls ag8d 2 to 11. NRPS strives for aCad￿niG ex￿1[enCe whilst endeavouring to create a ¢aring 8nd nuturing environment that will ensure the spwiiual. moral and academic growth of each and every child in a Jewsh framework. We Inspire In our Ghildrgn a th of learning a desire to acquir8 knowlgdge whlth extents to both secular and Jewish studies. We take great pride in the dNersity of pupil backgrounds and alm to create a mnmuniiy In the sch(K)I which undetstsnds arKI vdues indfvldual tradikn customs. The s¢h¢)ol continues to go fr(￿ strength to strengtti both a¢*JemThlty and in th8 community sense and our intske for s8ptsrn￿r 2025 was full, ￿th a waibng lisL In June 2019. th& school joined the Ir￿penderf Ass￿atiOn IISA). Founded in 1878, the ISA represents th8 interest of 6gJ members leading the best independent $ch￿lS across tha UK and beyund. ISA memb8rs value innovation and inspiratv￿. int8griLy and high standard. hard work and responsibility. Accreditation Is only awarded to Heajs rf thwr schoM)Is meet the highest standards includirvJ rigorous irtspection. Page 2 NANCY REUBEN PRIMARY SCHOOL {A Company Umlt•d by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achlevoments and perfornian¢e {¢ontlnued) Success through Acadwnk results Athough not obliged to perfomi national staThJardised tests. v* benchmark the education of our children against these lo ensure that we remain above national exp8ctstions and to allow parBnts to compare the quality of the education that we offer with olher schooLs. GL Assessments arg p8rformed from Year 1 to Year 6 and are marked and vemed extsmalty. We then tsxdr the perfC￿3nC* and [￿gresS of our pupils from their point of entry as they go through the school. It is worth notsng that enty to NRPS is not based on academic ability. There is no entrance exam. Graduates of NRPS are able to go on to the secondary scho)l of their choi￿. A signifio2nl proptsrbon of our pupils wntinue their education at Hasmonean. JFS or Immanuej Colkge as their farnli ies choose to keep their schoollng in Jewish environment. A number of families opting for att8rnativès in the private seL*or have seen their chiklren obtain places and sometlmes scholarships at Haberdashev Aske's Boys School, North London Colleglale School. Haberdashers, Aske's Girfs Schcol aJKJ Immanuel Colbje. Our graduates ar8 ¢￿sIStenty In top sets and p8rfomiing well in whthevgr th8y transfer lo at age 11. Whilst academlc srn is important it is not our only m&8wre of success. It Is of vital Importance to us and our pupils that NRPS Ope￿e$ as a community and a family and in on frnwronment that helps children to grow into confident and responsible individuals. Central to our ethos is that thitdren ￿Orn a sense of social responsibility, responsibility for each other. the wlder communty and themseIves. Within the school a sense of reswnsibifity is conveyed to the thI￿ren through emkx)werni8nt and friendship. There are many initiativcs devdoping pU￿]s. sense of res[K)n￿bIfjty. Tha Stsr of th8 Week Inrbative rewards ehiklren fr(Kn each c18ss in assembty (Th)t just for academic success) who ￿lebrate thelr SUc￿S the Head Teacher each week at a Taa Party. Our school has a slgnfficant number of vari8d after school anrithm8nt clubs such as $pcwts. CCM*ery. c¢xling, theatre and Earfy Yaars perfornitng arts and b￿1￿L To devolop an underSta￿lIng and 3￿Ptance of diversity. we teach (xjr chikdren ab(￿t drffer8nt countries. and cultures. Further. we teach Modem Hebrew {Iwtt) as a mc4Jem foreign language. Extemalty. OLtr thildren parttcipate in wmler community acttvrb8s inclduing taking gifts to, and singing in local Jewish ResKl8ntial Care Homes and competeing against olher Jewish schcx)Is in the Etgar challenge. In additIc￿, ourchli dren are empowergd to select charibe5 aThl ￿se fuTrJs e.g. for th8 Jewish Care Purim Zumba. NRPS is fortunate to have a strong arKI active parent bxly that Yalues the edu￿￿On gfven to their childr8n and help whore possible to contribute to the success of th8ir chiklren and the school as a who￿. They eontributs in variety of ways InC￿ding V￿Unteering to read with chibjren and helping schc¥)l outings. The PTA organise ￿)th severdl fiJrKlraising events annualty and occasions for parents to socralise. Our parent body practices and reinfo￿e$ the values of the schcd by shovriro knndness and charity to others in need vAthin the school. For exa￿￿e. meal rotas are often organtsed to hdp parents through diffi¢uM perM)ds of time be il due to ill heatth, the loss of a famity member or the birth of a new baby. Page 3 NANCY REUBEN PRIM*RY SCHOOL {A Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achiavemonts and porfornian¢8 {continugd) We are v&y pr￿lleged to have wonderful staff, who work ck)sety together and wilh parents to ensure that th8 academtc standards arKI the welfare of ts chlldren is malntsined. The sthool, parents and pupils kn¢￿ that Ihe continuwj success of our sch¢x)l is due to the gengr051ty of our b6ngfactors tha Reuben Foundation and the Od Ysof Hai Community we look forward to their confiinued support in deveknping the sch￿[ further. Financlal review Totsl inwmo re￿iVed was £2,173.242 {2024.. £2.027.572}. Inwne from sch(xJl fees amounted to £1,150.930 {2024: £1.009,103) an increase of 14. Donations received amounted to £601.292 {2024: £630,586) of which £500,000 {2024: £500,0(KJ) reLated to donatio￿ from th8 R￿jE￿ Found8th)T). Total expenditure amountsd to £2.231.556 (2024.. £1.929.807). The main e*t was staff ectsts of £1,374.539 (2024.. £1.228,618). The net deficaifor the ￿ was £58.314 {2024: surplus £100.765}. Resarves ptslicy The charity holds free reserves amounting to £175.497 (repfesented by gen8ral unrestiicted funds less dèduction for ftxed assets and thé designated fund). These reserves are raquired to be retsined lo finan￿ the ongolng wOTk￿g capital wuirements of the school. After a Challenging p8ri¢)d ts Trustees have reslored the schcK)I to eomkYartiv6 financial health with the continued support and assistsnce of the Reuban Foundation. Even though the rth8rity had free reserves as stated above such support is IiTrdy to LX)ntinue to b8 required n order to maintain this positson as the budget for th8 CUTrent year shoes a projected deficiL Designatsd funds hehd at the baiarK% sheet date were £229.505 rew8senting funds set aslde for school build1ng improvements. StNctur¢J governance and management Nancy Reuben Primary Sthool is registered as a charitaNe 1x￿PanY limited by guarante8. end was sel to provhae educational faCIl￿e5 for Jewish chibjren in North LoTrJon. Th8 charitsble company is govemed pursuant to its memorandum and artides of a&wiation. The chaiitable ¢omp8ny c￿nMenced its 8Ctivrties on 1 September 2008. The Tru51ees, who are a￿0 the directh for purFQW of company taw. and who served du￿n9 the year ora show on page 1. The Trustees may at any time ctropt any Individual Ihal they Select to be a Tnjstse with such appolntrn&nt lasting to the next annual gener81 meeli￿. They may also fo)Thally appoint addl￿nal Tn￿teeS on a permanent basis at any time. None of the TTUStaes has any ￿nefic481 interesl in the tharity. All of the Trustees are members of th8 chartty and guarantee to Contribu￿ £10 in Ihe event of a wThling up. P8g8 4 NPJICY REUBEN PRIMARY SCHOOL (A Company Limltod by Guarantee) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Structure. governance and manag•ment {continuod) The curr8nt Trustees are appratS8d of new devek¥¥nents tn charity law and practice. AJI Trustees are provided with all r8levanl infomiatjon appertsining to its affairs to ensure that they (2n understsnd 8fKI meet th8 resFonsibibib8s the role entails. The charity and the school are run by a GovefflirwJ Coun(4 that maintains (xintr(A of the funds retain8d and are solely responslble for their disbursemenL The Gov8mirvJ Councli (x)nsists of a representative of the Trusts8s and addibonal ty)vermers appointed includffo from the k)cat communty. A list of the current Goveming Counc can ba found on the Sch(￿,$ website. Tha Headteacher, Rabbi Joshua Conwray has the resFoftslbi￿ty for ￿ day to day njnning of the schwl and reports fomi2Uy to the Goveming Cojncrl on au matters ￿lating to the school. The Board has examined the prlnapaf areas of th8 ChariVs operatM)ns and ¢x)nsid8r&Y thè major risks fatsd in 8ach of theso ar8a5. The revlaw and assessment of th8 fM)Sttion was ¢xrried out in conjunct(on wtth the Foundation's audtiors. wfth specffic referen￿ to the internd (yjntrols requwed, to ensure the following critaria were m8L- - ComprthensNe swic planntng - Comprehensive budgeting and management acc¥)unts . Established organisatk)nat strucbjre & lines of reF￿rtir￿j (aearauthomsa￿n & approval procedures In thg opinion of the Tn￿tee$ the Ctrwrity has 8StabAshed suitable sy6tem %thith. under normal cxjnditlons, ShoL￿d allow these risks to be mlbgated to an ac(tptabl818vel in tts da￿t(￿daY operations. Golng concarn Nancy Reuben Primary Sch4)ol became voluntsry arded from 15 Sgptember 2025 and a new ￿gaI entity has been created. The Trustees intend to liquidat& the charttabje company in due course, once all reM￿nIng balanos have been setued. Any debtors o)nsider&l to be IrreC￿erable have I￿en WTitten tknvn in in these accounts. The Trustees consider there to be no d5trerence betr￿ the vatuation ¢)n a going concem basis and the valuation ￿ liquidation. Page 5 NANCY REUBEN PRIMARY SCHOOL (A Company Limited by Guarantre) TRUSTEES. REPORT {CONTWUED) FOR THE YEAR ENDED 31 AUGUST 2025 statement of Trustees, reswnsibilities The Twgtses (btho are also Ihe directors of th8 Charity for the purposes of Gompany lawl are responsible for preparing the TTUStees' Report and the finaniial statements in accordance with applicable law and Unlted ngdom Ac(x)unling Standard$ (Untted KirvJdom Generdly Accepted AccwitiThJ Practice). Company law requires the TnJst8es lo prepare financial statem8nts for ea(* ffinanaal . Under compary law, the Trustees must not approve the financial statements unkn they ara satisfied that they give a thJ8 arid fair view of the state of affairs of the Charity and of its incoming resources ar￿ application of resourw. including its income and ex￿ndthre. for that period. In preparing these financial sfatemer)ts. the Twstees are required to: sèlect suitsble aCL￿nting por￿eS and then atptythem COnsi4￿ty. observe the methe￿$ and principles ofth& Charibes SORP (FRS 1021., make judgments and acc￿nting estimates that are Teasonable and prudent state whether applicab18 UK Accounting Standard5 (FRS 102) have been folk)wed, sutie¢t to any material departures discl&8ed and eX￿aIned in the financaal ststements: prepare the financial ststem8nts on Ihe going basis unless it is inapproprfate to presum8 th8t the Charlty wll conlinue in business. The Trustees are responsible for keeping adeql￿te aC￿￿￿tt￿g rgcords that 8re Suff￿8nt to show and explain the Charitls transactions arKI disc105e with reasonable awracy at any time the finanoal posttK)n of the Charity and enable them to ensur8 that the financkql statements oJnply with the cL￿npani&S Acl 2006. They are also responsible for safwJuardino the assets of the Charity and hence for takir￿ reasonable stsps for the prevention and detedion of fraud and other irreguiartties. Disclosurn of inforniation to audltors Each of the persons vtho are Trustges atthe time thls Trusteès. Rep￿ is approv8d has coTrfimied that so far as that Trustee Is avrdre. there is relevant audit Infom)ation of which the charitls auditors are un8Wdre. and that Trustee has taken all the 51eps that ought to hava been taken as a Tru￿ge in order to be aware of any relevant audit information arwj to eSt￿￿h that the charitys auditors are awdr& of that information. Auditors As the inte￿On is to liquhlate the charitable company in due course followng Nancy Reuben Primary Scholl becoming voluntary aid￿ on 15 September 2025. Adler Shine LLP will not seek reappointrnent as audltor of the charity. Approved by ordw of 8 mem￿$ of Ihe tK)ard ofTru5tees 8nd Slgned on th8lr behalf by. Dayan A avld Date. -up HY Pag8 6 NANCY REUBEN PRIMARY SCHOOL {A Company Umiled by Guarantee} INDEPENDENT AUDrroRS' REpoFrf TO THE MEMBERS OF P4ANCY REUBEN PRIMARY SCHOOL Opinlon We have audited the financial ststements af Nancy ReU￿n Primary School (the 'charitl) for the year ended 31 August 2025 which COmp￿Se the Statement of F1rAnCi￿ Actiwtses. the Balance SheeL Ihe Statèment of Cash Flows and the related notes, I￿lUding a summary of signifi(xnl ac(Lunting kK)lici&s. The finall￿al r8porting frdmework that has been applied in theff preparation is applicabla law & Unlted tQwdom A(Lx)unting Standards, induding Financial Reporting Standard 102 The Financtat Reporbng Standard applicabl8 in the UK & R8public of Ir8land' (United Kingdom GenwallyAccept&l Ac(x)unttng Pra¢tice}. In our oplnlon the financial staternents= give a true and fair vtew of the stale of ￿ dlaritable I￿Pan￿$ affai￿ as at 31 August 2025 of its irKomlTh3 resour￿ and applkation of resour￿. nduding its Income and expenditur8 for the year then hav8 been propedy prepar￿1 in a¢cordaru wilh Unrled Kingdom General￿ Accepted Accounting Praetiee". and have been prepar￿ in accordarKe vAth the rwuir8ments of Companies Act 2006. Basls for opinlon We conducted our audlt In accordanc8 Jntemthnai StAndards on Audtting (UK) {ISAs {UKI) and appllcab18 law. Our responsibilities under those standards are fijrther describe¢ in the Auditors. responsibilities for the audit of the financial stslements see￿n of our rewrL Wa a￿ indep8ndent of the charitable ¢>Jmpany in accordance the ethical requirem9nts that are relewant to audit of the financAal statements In the Unitad lfjngdom. Induding the Financia Reportsng Councifs Ethical Standard, and ￿ have fiJ[ffI￿ our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtsined bs sufficlent arjd appropriate to provmje a basis ts our opinion. Emphas1¥ of matter We draw attention to not9 2.2 in the financFal statements, vthich In(ficxtes that the finan(aal statements have en preparèy on a basis other than that of gLyng concem. Our opini(M is not modtfied in respect of the matter. Conduslons rejatlng to golng concern In auditing the financial statements, we have concknled that Trustees. use of the goir¥J concem basis of accounting in the preparation of the finan(ial statements is appropriate. Based on the work we have perfomied. w8 have not identffied any material uncortainties relating to everts or condrttons that, indmdually or collectsvety, may ￿st stgnlficant doubt on the c*atTtable CoMpan￿S ability to continue as a going concem for a perKxI of at leasl ly￿1ve M(￿thS from when the financial statements are autrjorised for issue. Our resp)nsibilibes and the ￿p￿SIbiliti"8S of the Trustees wth respo6* to going o)ncem are desrjibed in the relevant sections of this reporL Page 7 NANCY REUBEN PRIMARY SCHOOL Company Limlted by Guarnnts8} INDEPENDEHf AUDITORS. REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL (CONTINUED) Other Inforniation The other infomation comprises the irrfom)ation IndLKloJ in the Annual Report other than the financial stateTnents and our Auditors, Repcrt thereon. The TTUStees are reswnsible for othcr information contsined within the Annual Rèport. OLEr opIn￿n on the financial statements does not cover the other informatM)n and. except to the extsnt otheThtse expl￿1￿ stated in LNJr re￿rt we do not expr8ss any form of assurance Condusion thereon. Our resKK)nsibilty is to read thg other Inf￿natiOn and. in doing so, consider thether th8 Other Infomayon is materialty inconsistent with the financial statements or our knowledge obtslned in the Course of tha audit. or otherwse appears to bg materialty misstated. tl we identify such material inconsistenaes or apparent mat8rial misstatements, wo are raquired to detem)ir* Yknether thi5 gNes rise to a material misstatement In th8 finanaal statements themselves. If, based i)n Ihe work w8 have perfoThed, w8 conthde that there is a matertal mi8Statement of this other irrfomation. we arts requir&J to reF*Jt thatfact We have nothing to report in this ￿ard. Opinion on othgr mattor4 prescribed by tho Companios Act 2006 In our oplnk)n, based on the w(*k und*tsken In tha course of the audit th8 infomiation gNen in the Tr￿. Rewt for ts financol year fc* ￿1￿) the finan(aal statements are prepared is consistentwith the financial ststements. the Trustees, Report has been prepared in accordatK* ￿ app1Kab￿ legal requI￿rn￿ts. Mattors on whi¢h we are roquired to rnport byexceptlon In the light of our krth￿edge and understandirg of the charitable (yjmpgry and its enwronment obtained in the course ofthe audit we have not wjentified makrial m1sstst￿nenL£ In the TTUSt88s' Report. We have rthng tr) r8FQrt in respact of the followkng matters in relatlon to ￿1￿h Gompanles Act 2006 rgquires us to report to you rf, in our opinS0D: adequate accounting records have not be￿ kepL C￿ retums adg]uate for {￿r audit have not bean received tr￿n branches not visited by us. or tho fina￿la1 ststements are not in agreement wilh the accounting records and retums", or certain disdosures of Trustees. remuneration by law are not made" or we have not receiwj all ￿ infomiatlon and explanatiorts require for our audit or the Trustees were not enti118d to prepare the finanoal statsments in acixKdance wth the small companies regimè and take aifvant3ge of the smal5 companies, exeMptK*￿ in preparing the TTUStees' Rep)rt and from the requirement to prepare a Str8t8gic RtFK Page 8 NANCY REUBEN PRIMARY SCHOOL (A Company Limrted by Guarantee) INDEPENDENT AUDrroRS' REPORT TO ThE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL (CONTINUED} Responsibilitles of trustees AS expl8in6d more fulty in the Trustees. ResFwsibiKties Stat8mert Ihe Trustees {who are also the directors of the charitable company for the pUrF￿eS of company lawl are r8sponsii)le for the preparation of the financtal statements arKJ for ￿ng satisfied thal they gNe a true and fair wèw. and for such ￿ternal control as the Trustegs Iletennine is necessary to enab￿ the prepar8tkn of financtal ststernents that are fr88 from material misstal8ment. sthether (Jue to fraud or wror. In preparing the finanual statements. the Twstees are wpx)nsibl8 for assessing ts charltabl& compatys abil to ¢ontinue as a going concem, dtscloslng. as app[ub￿, matters related to goirwJ Conc￿ and uslng the going concern basls of aeeounting unkn the Trustees a[￿er int8Th1 to fiquthte the charitabl8 Company or to cease operations, or have m realistic a118mative iNJt to do so. Page g NANCY REUBEN PRIMPRY SCHOOL (A Company Limited by Guarante¢} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NANCY REUBEN PRIMARY SCHOOL {CONTINUED) Audito￿. responsibilities for the aU￿rt of the finan¢ial slatem￿ts Our objactives are tts obtain re8sonabk assurance aboui whether the financtal statements as a whole are free from matarial misstatemen( whether due to fraud or errcff. and to issue an Audrtors. Report that indudes our oiynion. Reasonatr￿e assurdnce is a high level of a5surdn￿. but is not a guarantee that an audit conducted in accordar￿e wih ISAS (UK) wll datect a maknial m￿￿ement vthen it exists. Misstatements can arise from fraud or effor and are Consider￿ material rf. Ind￿ldual￿ or in the aggregate, they could r8asonabty be expected to Infiu8nc8 Ihe 8c1)nom￿ decisions of users tsken on the basis ofthese finanaal statements. Irregularitas. induding fraud. are instances of non-compliance with laws and regulations. We deslgn procedure5 In lin8 with our r8sw)nsibilth8s. ouuined abova, to detect mats￿al misstat8ments in respeci of irr8yularitie8, induding fraud. The extent to which our procedures are capable of deiecting itTegukrities, including fraud is detailed below. We Kjenttfy ar￿ assess the risks of maierial miss13t￿ment of the financkql statements, whether due to fraud or error. and then design and ￿rfOrrn audtt procedufvs resp¢*￿1Ve to thosè risks. including obtsinir@ audit evidence that is sufficient and approtyiate to prov￿6 a b&8is for our opini￿. In identifying and assessing risks of material misst8￿Ient in resp8Ct of Irwul8riti8s, includirrfJ fraud and non com￿18nCe vthh laws and regulations. w8 have: considered the nature of the industy and sectors. control eNronment and business perfomance; made enquires of management about their own id8ntifKabon and asse5smerit tsf the risk of irregularitses. perf￿e￿ audrf( work over the Tisk of management overrKle of controL8. incJuding lesting of joumal entries and other adjustr8nts for appropTiatene5s aThl review￿ accounting estlmaes for bias; undertaken appropriate 5ampk bawj testing of bank transactions", identified and evaluated cfjmFAian¢e y￿th relevant laws and regulatsons and mad8 enquiries of any instances of non-complian￿. d￿ssed matters among lh8 audit engagement team regartfing and wher8 fraud might occur in the nancial ststements and wtsntial indbCAtors of fraud. Becaw of the inherent limitations of an audK thare is a risk that we will not detect all irregulartses, including those leadirfj to a material misstatement in thè financial statemonts or nonJnLged as eXpe￿ibjr8 when tha condttlons attaching are fulfilled. Grants offered subject to Condit[(￿ have been met at thg year end are noted as a commitmenL kyjt not accrued as 8yndtbJFe. Al expenditure ts inclusNe of irr￿verable VAT. 2￿ Interest receivabl& Interest on funds held on deFQSit i% incI￿led vthen r￿[Vable and the amount measured rdiabty by the Charitr. ths rs normally UFon notifica11￿ of th8 int￿1 paid or payalAe by the institution th whom the fvnds ar& depJsrtad. 2.6 Tanglbl• fixed assets and depra¢lation Tangible fwf assets are intttalty rwnlsed at cost. After rectyntbon, under the cost model, tsngd)l& rixed assets ar8 maasurad at cost less aL￿￿￿￿ted depreciation and ary accumulated impaimient Iossgs. Al costs Incurred to bring a tswible fixed a5S8t Into its intended thing condition should be induded in the meaSUrem￿tt of eosL Depreciation is tharged so as to alloc* the (xBt of langiblo fixed assets less their r8sidual value over their estimated useful lives. DepreLiation is provlded on the followiThJ basis: Leasehokt improvements ffttings & p4uw)ent 20% strawjht line 25% r*lucing baknce 2.7 Debtors Trade and other debtors are recogniwl at the settlement amount after any traje discount offered. PrepayTnents are valued at th6 awnounl prepaid net of any trade diswunts due. Pag@ 17 MANCY REUBEN PRIPAARY SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A¢counting policies (continued) 2A Cash at bank and in hand Cash at bank and in har￿ incI￿jeS c8sh and short-tsmi hvJhly Ilquid investments wtth a short maturity of three months or less from the dale of a￿Ul$￿on or wenlng of the daposit or sirnilar account 2.9 Llabllltlgs and provislons Liabilities a￿ reccgnisgy vthen th8re an ob1v￿on at the Balance Sheet date as a ￿urt of a p85t avent. st is probable that a transfer of ewnomic benefft wiu bg req￿red in setU8menL and the amount of the settlemerrt can be esb"mated reliably. Lsabil￿e$ are recognised al the arnount that the Charity anticipates Tt wll pay lo settle the debt or the amount it has received as advanc￿ p￿Ents for Ihe gocxls or $8rvices it must provide. Provtsions are measured at Ihe iwt estimate of the amounts ￿VIred to sethe thè obligatlon. Where the effect of the time valu8 of money r& matwgl. the tKovision is based on the present value of those amounts, dkwunted at the pre-tax disu)unt r*8 that refiects the risks specific to the liability. Th6 UM￿nd1￿ of th8 dis(￿unt is recognised in the Statemenl of F￿n¢la1 Athiiies as a fin8nc8 Cost. 2.10 Finanelal Instruments The Charity only has financial assets and financial fRbiltbes of a ktnd that qualify 8$ basic financial Instruments. Basic financial instruments are In￿allY recognised at transaction value and subsequently measured at th￿r settjement Wdlue Trmih 1hg ex(zption of bank loans whith are subs8quenty measur*J at amortisoj cost using the effective uiterest meth(Kl. 2.11 Pensions The Chartty operates a defined I￿ntn￿)ut10n pension scheme and the pensK)n charge represents the amounts payable by the Chatity to the fvnd in reSp￿t ofthe year. 2.12Taxadon The charity is èxempt from tsxation on its acttvlties vthich fall wiknln tho SCLV of part 10 ITA 2007 ar￿ Secti￿ 256 ofthe Taxation of Chawbb Gairts Aca 1992. 2.13 Fund aecounting General funds are unrestricted fvnds Ythich are avaikqble for us8 al the disuetion of the Trustees in furtherano of the general objedives of the Chaiity and svhich have not been designated for other pUr[￿e5. Designated fUr￿S comprise unrestricted funds that have been set aside ty the Trust8es for paTticular purposes. The aim and use of each d8signated fund is set out in the notes to thè financlal statemerts. Investm8nt ir￿Orne. gair6 and kjsses are to th8 appropriats fijnd. Page18 NANCY REUBEN PRIMARY SCHOOL IA Company Umlted by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Incoma from donatlons and lagacies Unrestrlcted funds 2025 Total funds 2025 Totsl funds 2024 Donattons ei11.292 601,292 630.586 Income from charitable activitles Unrestri¢ted funds 2025 Total funds 2025 Tot funds 2024 F8es rece￿ble Local authority In￿M￿ rjher incx)rne 1.150.930 351.548 32.803 1.150.930 351.548 32,803 1.009,103 303.869 39,644 1.535,281 1,535.281 1.352.616 Invastmant Income Unrestrl¢ted funds 2025 Total fijnds 2025 rot funds 2024 Bank Intwest".ec8ivabfo 8.241 8241 8,904 Other Incoming resources UnrestriGted fvnds 2025 Total nds 202S Total funds 2024 rA Fundraisir¥J 28,428 28.428 35.466 Page 19 NPNCY REUBEN PRIMARY SCHOOL {A Company Limlted by Guarantee) NOTES TO THE FNANCW STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Expenditure on Tai$ing fvnds Costs of ralsing fvnds Unrestricted funds 202S Total funds 2025 Totsl fvnds 2024 17.325 41.872 Other fvrtdrai&rvJ 17.325 Anatysls ot grants Grants to Indmduals 2025 Totsl funds 2025 Total funds 2024 Grants to Indiwduo13 127.588 127.588 49,380 Analysis of expenditure on Charitable acll¥iti•s Summary by ftjnd type Unrestrlclod funds 2025 Total 2025 Total 2024 2.214331 1,884,935 Direct cy)sts 2,214,231 Page 20 NANCY REUBEN PRIMARY SCHOOL (A Company Ltmltad by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Analysls of expenditure by activities undwtakèn fvnding of dire¢dy actlvities 2025 2025 Support Totsl funds 2025 Total fvnds 2024 2025 Direct ¢x)sts 2.000.718 127.588 85,925 2.214231 1,884,935 Anaty$is of dlred costs Total fitnds 2025 Totsl fvnds 2024 Actfvitles 2025 1.374.539 24,969 159.225 73,496 77.014 58.757 39.005 48.763 25.821 59.182 27,190 32.757 Dopred8tion Establishment costs EdUcati￿￿j suppfies Sthool trips & sports acb Security Office costs Repairs & maintenance Legal, profw10n￿ & bookkeeplng Bad d8bt provision Sundry expen59S 1.374,539 24969 159,225 73.496 77.014 58.757 39,005 48,763 25,821 59.182 27.190 3Z757 1.228,619 121,634 61,835 70,221 78,729 37. 168 47,721 19, T39 65,897 35.307 20.940 2.0￿.718 2.000.718 1.817.t58 Page 21 NANCY REUBEN PRIMARY SCHOOL {A Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Anatysis of expenditure by acttvities Icontinu¢d) Anatysis of support Costs Governanc ¢osts 202S Total fund8 2025 Total hjnds 2024 Audit fee5 Legal & PTofgssion81 88nk thaTges 11,600 74,159 166 11,600 74.159 12,270 5,947 180 85.925 85,925 18,397 11. AuditOTS' romunoration 2025 2024 Fees p8yabte to Charitls audiiorforthe au(fit ofthe Charitrfs 8nnual ar£*unts 11600 12000 12. 2025 2024 Wtge$ arKJ saLarfes Sorial secuiTty costs 1,226.fj36 116.138 31.765 1.107,099 94,791 26,729 1.374,539 1,228.619 DuriNJ the y8arthe Charity made a rwjundancy paymerrt of £12.￿XI. Page 22 NANCY REUBEN PRIMARY SCHOOL {A Company Limltad by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 12. staff ¢osts (continu8d} The average number of empk)yed bythe Charityduring the year vras as follo￿.. 2025 2024 No. read￿[S Support staff Adminlstrati Sito staff 10 10 29 Th8 number of emplow whose efflp￿ bonefits (excludww Bmploy8r per￿1￿ costs) exceeded £60.000 was: 2025 No. 2024 In Ihe band £80.￿1 _£70,Q)O In th6 band £100.Q)1- £110,(M)o 13. Trustees. r•mungratlon and expenses During the year. no Trustg8s rethed any remunernoon or other benellts (2024- £NIL). During the yBar ended 31 Aug￿ 2025. no T￿￿ee expenw have incurrga (2024- £NIL). Page 23 NANCY REUBEN PRIMARY SCHOOL (Acompany Limitsd by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14 Tanglble f￿ed assets Short4emi leasehold Flxtures and property fittings Totsl Cost or valuation At 1 S8ptsrnber 2024 Additions 60.774 382.589 18.597 18.597 Al 31 August 2025 60.774 401,186 461,960 Dèpre¢iatlon At 1 Septemb8r 2024 Charge for th8 ye8r 364,335 24.969 60,774 303,561 24,969 60,T14 328,530 389,304 Al 31 August 2025 Net book value 72.656 72.656 At 31 Awust 2025 79.028 79.028 At 31 August 2024 15. Debtors 2025 2024 Due wtthin one year Trade d8btor5 Other d8btors 29.339 21,238 13.478 7,909 13.478 61055 21,387 Paga 24 NANCY REUBEN PRIMARY SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. Credltors: Amounts falling duo withln one year 2025 2024 Tlade txethtors otherlaxa￿on and social security Other cr&JitJrs 97.518 28,675 178.713 52,268 13,735 771,688 304.906 237.691 17. Flnancial instruments 2025 2024 Flnanclal as$8ts Fu)anct81 assets mBasured atfairwdlue thTwh i1￿ne and ewdl 673,247 Financial assets measured at fair Yalue through income and expendtture comprise bxnk balances 18. Statemant of funds Statement of funds- Current year Balance at 1 Septemb•T 2024 Balan￿ at 31 August 2025 In¢ome Expondituyo Unr8Strtetod fiinds Designatod funds Building IMprcVem￿ts 229,505 229.505 General funds General Funds 30W7 2.173.242 {1231,556) 248.153 Totsl Unrestricted funds 535.9n 11n242 (2.231.556) 4T1,658 Page 25 NANCY REUBEN PRIMARY SCHOOL (Acompany Limlted by Guarantee) NOTES TO THE FINANCLAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 18. StstemeDt of funds (continu￿) stst•ment of funds- prior year Balance al i September 2023 Ba13nGQ at 31 August 2024 Tr8nsfery inloul unrestrict￿ fund5 D8slgnat6d funds DesvJnat8d FuThls- all fund5 229.505 229.565 (￿) General funds Generdl Fund$- au fund5 Z027.573 (1.926,808) 306,467 205.642 S35,912 Totsl Unrestricted funds 435.207 2,027.5r3 (1.926,808J 19. Summary of funds Summary of funds- ¢urrent y￿r Balance at 1 Seplwnber 2024 Balanco at 31 August 2025 ome Expendlture 229,505 248,153 General fvnds 306.467 2.173342 12,231,556} 535.972 2,173242 (2.231,5561 4T1,658 Pag& 26 NANCY REUBEN PRIMARY SCHOOL {A Company Limlt•d by Guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Summary of funds (continued) Summary of funds. w10ry￿r Balance at 1 September 2023 Balar￿e al 31 Augusl 2024 Translers in/oul Designated funds Ikneral frJnds 229.565 205.642 (60) 60 229,505 306,467 2.027,573 (1,926.808) 435.207 Z027,513 (1.926,808J 535.972 20. Analysis of net assets between funds Analysls of nèt assots between lunds- current year Unrestricted fvnds 2025 Total funds 2025 T8ngibla fixed assets CUr￿nt assets Creditors due wrtNn t￿ JeAr 72.666 72,656 769,090 769,t190 (304,906} (304906) {59,182) 59.182 Total 477.658 47T,658 Anatysis of net assets between funds- prfory•ar Totsl funds 2024 funds 2024 Tangible fwl assets Current assets Cre(lrtors due ￿Ythin year 79.028 694.634 (237,691) 79.028 694.634 [237.691) Total &35,971 535.971 Page 27 NANCY REUBEN PRIm￿y SCHOOL (A Company Limited by Guarantee) NOTES TO THE FINANCLAL STATEMENTS FOR THEYEAR ENDED 31 AVGUST 2025 21. R•con¢lliation of net mov•merrt in funds to net cash flow from operating activit•Ès 2025 2024 Net incx)melexpetvJthre for the year (as Ststement of Financial Actvitiès) 100,765 {58.314) Adjustments ftsr. Depreciallon clwrg8S DeGreasdlincr8asel d8bbxs cr8ase in creditors Investsnent ino)me 24.969 (21.427) 45.975 18.241) 29,348 (6,098) 16.658 {8.904) Net cash provld¢d byl(used In) op8rating a¢tlvltles (17,038) 131,769 Analysis of Gash and equivaieDts 2025 2024 645.853 673.247 Ca$h in harn Total cash and c•sh equlvalents 645,853 673,247 Anatys15 of Ghanges in net debt Septsmber At31 2024 Cash flows August 2025 Cash at bank in haThJ 673,247 (27.394} 645,853 673,247 {27.394) 645,853 24. Penslon commllments The tharity operates a deffift￿ ¢))ntrfbution pensKJn schem8. The assets of the scheme arg hald separately from those of ts group in an independenty administered fvnd. The pen510n cost charge represents contributions payth by ts (*wtyto the fvnd and amoun￿ to £31.765 {2024- £26,728). Page 28 NANCY REUBEN PRIMARY SCHOOL (A Company Lirnlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEPR ENDED 31 AUGUST 2025 25. Related party transa¢tlons Durlng the year th& tharity entered into the foljcwing transactions rèjated parties: 2025 2024 Rent p&id to Od Yosef yeshi￿ Colltye of R￿￿1[¢￿ Sludres DtsTratiC￿ from thè Reub8n FtyJrKJabon $818ry paid to ckjse Pdmily member of th8 Da￿ A Davkj 5fj,000 500.000 10.070 500.000 9,500 566.07 557.500 Dayan A Davld 1$ a trustee of the regislerad (tharity Od Yosef Hai Colbego of Rabbinical Studies. No fomial lease e￿sts under Ihi% arrangement at W8senL Post balanee shoet events On 15 September 2025, Nancy Reuben ￿lMary becam voluntary ai¢Jed and a new legal antity has been created. Thé Trustees int6rKI to Iquidate Ihe chari13b￿ company in due o)urse. oru all remaining balances have been sattled. Page 29