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2021-08-31-accounts

Charity Registration No. 1118619

Company Registration No. 05951295 (England and Wales)

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number Company number

Registered office

Independent examiner

Mr. P Baker Mrs B Gabriel Mr. D Wynne Mr A Steinberg Mrs D Grossman

1118619

05951295

325-327 Oldfield Lane North Greenford Middx UB6 OFX

Berish Hoffman ACA Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 8 - 15

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2021

The Trustees present their annual report together with the audited financial statements of Beit Shvidler Primary School Charitable Trust for the year ended 31 August 2021.

The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of 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 (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 4 (effective 1 January 2015). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

Objectives and activities

The objects of Beit Shvidler Primary School Charitable Trust (the ‘Trust’) are the advancement of education by the conduct of a school or schools and by ancillary educational activities for the benefit of the Orthodox Jewish community. The Trustees have considered the requirements of the Charities Act 2011 and have satisfied themselves that they have complied with their duty to have regard to the Public Benefit guidance published by the Charity Commission.

The Trust advances its objects through its financial support for Orthodox Jewish schools. The Trust continues to support Beit Shvidler Primary School (BSPS, 'the School'), a co-educational Orthodox Jewish primary school for children aged three to eleven, whose families are committed to Shabbos, Kashrus, community involvement, ongoing learning and religious growth. The School is one of a network under the Jewish Secondary Schools Movement (JSSM) umbrella, and is associated with the Edgware Adath Yisroel Congregation (EAYC). The Trustees all give of their time and experience voluntarily.

Achievements and performance

The Trust continues to perform in line with trustees’ expectations. In February 2021 the Trust ran a successful fundraising event which raised around £300,000. These funds were used to start replenishing the reserves of the Trust, and to support the School in a number of strategic capital projects. Despite the continued economic challenges brought about by Covid-19 the Trust has continued to see strong support from the School’s parent body and wider community to support ongoing fundraising activity.

The primary recipient of the Trust's grants, Beit Shvidler Primary School, continues to display strong progress under the able leadership of its head teacher and the senior leadership team. The Trustees continue to see the positive findings from the March 2019 ‘Good’ Ofsted being reflected in the performance of the school:

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Financial review

The details of the Trust's financial activities are set out in the Statement of Financial Activities, Balance Sheet, and associated notes starting on page 5 of these accounts. The Trust's total funds at the year end were considered acceptable by the Trust. At the year end the charity had a deficit on its free reserves totalling £23,141 (2020: deficit £38,228).

The principal risk and uncertainty for the Trust relates to the level of donation and grant income it will benefit from in future periods. This is partly driven by the broader economic environment and partly by donors' balance of priorities between this and other recipients of their donations and grants. These are the key factors that are likely to affect future financial performance of the Trust. To monitor and manage these risks, the Trustees review the Trust's financial performance and grant pipeline on a regular basis, and if necessary, adapt its grant-making activity accordingly.

Plans for future periods

The Trust intends to continue advancing its objects in future periods. The trustees continue to focus on fundraising to support these objects. Trustees are also focused on bringing the Trust's free reserves sustainably out of deficit through a combination of fundraising and careful management of reserves and grantmaking activity.

Structure, governance and management

The Trust is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 29 September 2006. It is a registered charity, number 1118619.

Trustees are appointed by the JSSM trustees. Trustees are appointed for an initial term of four years and may be re-appointed for a second term and, exceptionally, a third term.

The trustees during the year were: Mr. P Baker Mrs B Gabriel Mr. D Wynne Mr A Steinberg Mrs D Grossman

New trustees are introduced to the objects of the charity by the Chair and Treasurer, and to their responsibilities as a trustee. Trustees at all times act in the best interests of the charity. Trustees are required to recognise and deal appropriately with conflicts of interest, recognising that even the perception of a conflict of interest could damage the Trust’s reputation. It is the policy of the Trust that no trustees receive any remuneration from the Trust.

Trustees are responsible for acting collectively to ensure the proper administration of the charity, safeguarding its assets, and ensuring these are only used to further the Trust's objects. Decisions are made by consensus of the Trustees. In relation to financial decisions, trustees receive briefing on the financial assets of the Trust on a regular basis – at least three times each year.

Risk Management

The trustees focus primarily on financial and reputational risks to the Trust. In relation to financial risks, the Trust aims to maintain at minimum total funds of £40,000. In relation to reputational risks, trustees consider the arrangements for safeguarding and pupil welfare at a school applying for a grant – amongst other factors – before concluding on whether to make a grant. The trustees are also mindful of conflicts of interests as noted above.

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

The trustees' r eport was approved by the Board of Trustees.

Mr. P Baker

Trustee Dated: 19 May 2022

Mr. D Wynne Trustee Dated:19 May 2022

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of Beit Shvidler Primary School Charitable Trust (the charity) for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW) , which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Berish Hoffman ACA

Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX

Dated: 23 May 2022

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
2
630,865
11,898
Charitable activities
3
29,475
-
Investments
4
2
-
Total income
660,342
11,898
Expenditure on:
Raising funds
6
15,344
-
Charitable activities
5
629,911
16,530
Total resources expended
645,255
16,530
Gross transfers
between funds
-
-
Net income/(expenditure)
for the year/
Net movement in funds
15,087
(4,632)
Fund balances at 1
September 2020
(38,228)
16,530
Fund balances at 31 August
2021
(23,141)
11,898		 Total Unrestricted
Restricted
Total
funds
funds
2021
2020
2020
2020
£
£
£
£
642,763
354,728
49,474
404,202
29,475
39,618
-
39,618
2
145
-
145
672,240
394,491
49,474
443,965
15,344
28,316
-
28,316
646,441
480,217
57,272
537,489
661,785
508,533
57,272
565,805
-
27,565
(27,565)
-
10,455
(86,477)
(35,363)
(121,840)
(21,698)
48,249
51,893
100,142
(11,243)
(38,228)
16,530
(21,698)

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 AUGUST 2021

2021
Notes
£
Current assets
Debtors
10
-
Cash at bank and in hand
174,555
174,555
Creditors: amounts falling due within
one year
12
(185,798)
Net current liabilities
Income funds
Restricted funds
13
Unrestricted funds		 2020
£
£
8,321
151,284
159,605
(181,303)
(11,243)
11,898
(23,141)
(11,243)		 £
(21,698)
16,530
(38,228)
(21,698)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The financial statements were approved by the Trustees on 19 May 2022

Mr. P Baker Mr. D Wynne Trustee Trustee Company Registration No. 05951295

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2021

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
17
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2021
£
2		 £
23,269
2
-
23,271
151,284
174,555		 2020
£
145		 £
(98,121)
145
-
(97,976)
249,260
151,284

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

Charity information

Beit Shvidler Primary School Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 325-327 Oldfield Lane North, Greenford, Middx, UB6 OFX.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future due to a successful post-year end fundraising campaign. Nevertheless, the trustees have made aware the principal organisation to which it makes donations that the charity's ability to financially support that organisation are dependent on the charity's own ability to continue as a going concern.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Grants are included in the statement of financial activities on receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

1.5 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 transfer 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 which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
630,865
-
Grants
-
11,898
630,865
11,898
Charitable activities
Summer camp income
Hall hire		 TotalUnrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
630,865
354,728
-
11,898
-
49,474
642,763
354,728
49,474
Total
2021
2021
£
£
27,925
27,925
1,550
1,550
29,475
29,475		 Total
2020
£
354,728
49,474
404,202
2020
£
-
39,618
39,618

3 Charitable activities

4 Investments

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Interest receivable 2 145

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

5 Charitable activities

2021
£
Educational supplies
88
Agency supply staff
-
Premises costs
-
Donations to Beit Shvidler Primary School
601,403
Sundries
4,239
Summer Camps
30,220
635,950
Share of support costs (see note 7)
5,157
Share of governance costs (see note 7)
5,334
646,441
Analysis by fund
Unrestricted funds
629,911
Restricted funds
16,530
646,441
Raising funds
Unrestricted
funds
2021
£
Fundraising
Hall hire expenses
408
Fundraising Campaign Expenditure
14,936
15,344		 2020
£
6,546
910
12,828
501,254
7,092
-
528,630
5,103
3,756
537,489
480,217
57,272
537,489
Total
2020
£
28,316
-
28,316

6 Raising funds

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

7 Support costs

Support
costs
Governance
costs
£
£
Accountancy fees
-
5,334
Professional fees
5,157
-
5,157
5,334
Analysed between
Charitable activities
5,157
5,334		 2021
Support
costs
Governance
costs
£
£
£
5,334
-
3,756
5,157
5,103
-
10,491
5,103
3,756
10,491
5,103
3,756		 2020
£
3,756
5,103
8,859
8,859

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration , reimbursement of expenses or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Total - -
10 Debtors
2021 2020
Amounts falling due within one year: £ £
Prepayments and accrued income - 8,321

11 Cash at Bank

Cash at bank includes £4,046 ( 2020 : £4,046) earmarked for premises maintenance and £NIL ( 2020: £ NIL) relating to refundable deposits received from parents.

Cash at bank also includes £ 6,815 ( 2020 : £16,530) held in a restricted fund, relating to capital grants received.

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

12 Creditors: amounts falling due within one year

Trade creditors
Amounts owed to fellow group undertakings
Other creditors
Accruals and deferred income		 2021
£
6,365
175,057
150
4,226
185,798		 2020
£
2,984
175,057
200
3,062
181,303

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

13 Restricted funds

Balance at
1 September
2019
£
Capital grants
51,893
SENCO
-
51,893		 Movement in funds
Movement in funds
Income
Expenditure
Transfers
Balance at
1 September
2020
Income
Expenditure
Balance at
31 August
2021
£
£
£
£
£
£
£
49,474
(57,272)
(27,565)
16,530
6,898
(16,530)
6,898
-
-
-
-
5,000
-
5,000
49,474
(57,272)
(27,565)
16,530
11,898
(16,530)
11,898

Capital fund relates to Devolved Formula capital grants received to be used for capital expenditure . The SENCO fund relates to amounts received to be used by the SENCO department within the school.

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2021

Analysis of net assets between funds

14
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
August 2021 are
represented by:
Current assets/
(liabilities)
(23,141)
11,898
(23,141)
11,898		 TotalUnrestricted
funds
Restricted
funds
2021
2020
2020
£
£
£
(11,243)
(38,228)
16,530
(11,243)
(38,228)
16,530		 Total
2020
£
(21,698)
(21,698)

15 Related party transactions

Creditors include an amount of £1 75,057 (2020: £1 75,057 ) due to The Jewish Secondary Schools Movement, which owns the premises, used rent free by the school.

During the year, the charity received donations totalling £7,565 (2020 : £ 15,715) from the Trustees.

16 Ultimate Parent Undertaking and Controlling Party

The ultimate parent undertaking and controlling party is The Jewish Secondary Schools Movement, charity registration number 313109.

17
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
Increase/(decrease) in creditors
Cash generated from/(absorbed by) operations
18
Analysis of changes in net funds
The charity had no debt during the year.		 2021
2020
£
£
10,455
(121,840)
(2)
(145)
-
(1)
8,321
29,315
4,495
(5,450)
23,269
(98,121)