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2023-08-31-accounts

Charity registration number 1118619

Company registration number 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 2023

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

Trustees

Mrs B Gabriel Mr A Steinberg Mrs D Grossman Mr A Milstein Mr J Lewis

(Appointed 1 November 2022) (Appointed 16 October 2023)

Charity number 1118619 Company number 05951295 Registered office 325-327 Oldfield Lane North Greenford Middx UB6 OFX Independent examiner Berish Hoffman FCA Landau Morley LLP 325-327 Oldfield Lane North Greenford 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
Statement of cash flows 7
Notes to the financial statements 8 - 14

BEIT SHVIDLER PRIMARY SCHOOL CHARITABLE TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 AUGUST 2023

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 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply 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)" (effective 1 January 2019).

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 the cost of living crisis, 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 and the June 2023 ‘Outstanding’ Pikuach 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 2023

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 surplus on its free reserves totalling £79,143 (2022: £187,812).

The principal risk and uncertainty for the Trust relates to the level of donations 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 the 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 grantmaking 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 sustaining and strengthening the Trust's free reserves through a combination of fundraising and careful management of reserves and grant-making activity. The Trustees are considering a number of fundraising events over the next 12-18 months to further replenish the reserves which have decreased over the past 12 months.

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 (Resigned 31 October 2022)
Mrs B Gabriel
Mr D Wynne (Resigned 16 October 2023)
Mr A Steinberg
Mrs D Grossman
Mr A Milstein (Appointed 1 November 2022)
Mr J Lewis (Appointed 16 October 2023)

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 2023

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' report was approved by the Board of Trustees.

Mr A Milstein

Trustee Dated: 18 March 2024

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 2023.

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 FCA

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

Dated: 19 March 2024

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 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
384,731
22,591
Charitable activities
3
50,005
-
Investments
4
17
-
Total income
434,753
22,591
Expenditure on:
Raising funds
6
15,657
-
Charitable activities
5
527,765
8,508
Total expenditure
543,422
8,508
Net income/(expenditure)
(108,669)
14,083
Transfers between
funds
-
-
Net movement in
funds
(108,669)
14,083
Reconciliation of funds:
Fund balances at 1 September
2022
187,812
13,808
Fund balances at 31 August
2023
79,143
27,891		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
407,322
481,156
6,993
50,005
58,737
-
17
2
-
457,344
539,895
6,993
15,657
14,461
-
536,273
314,564
5,000
551,930
329,025
5,000
(94,586)
210,870
1,993
-
83
(83)
(94,586)
210,953
1,910
201,620
(23,141)
11,898
107,034
187,812
13,808		 Total
2022
£
488,149
58,737
2
546,888
14,461
319,564
334,025
212,863
-
212,863
(11,243)
201,620

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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

AS AT 31 AUGUST 2023

Notes
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets
The funds of the charity
Restricted income funds
14
Unrestricted funds		 2023
£
14,592
277,798
292,390
185,356		 £
107,034
27,891
79,143
107,034		 2022
£
9,731
376,828
386,559
184,939		 £
201,620
13,808
187,812
201,620

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 2023.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 18 March 2024

Mr A Milstein Trustee

Company registration number 05951295 (England and Wales)

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

FOR THE YEAR ENDED 31 AUGUST 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
19
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
17		 £
(99,047)
17
-
(99,030)
376,828
277,798		 2022
£
2		 £
202,271
2
-
202,273
174,555
376,828

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

FOR THE YEAR ENDED 31 AUGUST 2023

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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. 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 is 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 or grantors 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 2023

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.

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 payments 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.

Derecognition of financial liabilities

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

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

FOR THE YEAR ENDED 31 AUGUST 2023

2 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
384,731
-
Grants
-
22,591
384,731
22,591		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
384,731
481,156
-
22,591
-
6,993
407,322
481,156
6,993		 Total
2022
£
481,156
6,993
488,149

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Hall hire 21,862 28,858
Summer camp income 28,143 29,879
50,005 58,737

4 Income from investments

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 17 2

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

FOR THE YEAR ENDED 31 AUGUST 2023

5 Expenditure on charitable activities

2023
£
Direct costs
Donations to Beit Shvidler Primary School
493,009
Sundries
807
Summer Camps
30,086
523,902
Share of support and governance costs (see note 7)
Support
5,995
Governance
6,376
536,273
Analysis by fund
Unrestricted funds
527,765
Restricted funds
8,508
536,273
6
Raising funds
Unrestricted
funds
2023
£
Fundraising
Hall hire expenses
15,657
15,657
7
Support costs allocated to activities
2023
£
Professional fees
5,995
Accountancy fees
6,376
12,371
Analysed between:
Charitable activities
12,371		 2022
£
281,171
15
28,227
309,413
4,861
5,290
319,564
314,564
5,000
319,564
Total
2022
£
14,461
14,461
2022
£
4,861
5,290
10,151
10,151

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

FOR THE YEAR ENDED 31 AUGUST 2023

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:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors		 2023
£
-
14,592
14,592		 2022
£
2,300
7,431
9,731

12 Cash at Bank

Cash at bank also includes £27,891 (2022: £13,808) held in a restricted fund, relating to capital grants received.

13 Creditors: amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other creditors
Accruals and deferred income		 2023
£
3,969
175,057
-
6,330
185,356		 2022
£
4,832
175,057
150
4,900
184,939

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

FOR THE YEAR ENDED 31 AUGUST 2023

14 Restricted funds

At 1 Incoming Resources Transfers At 31 August
September resources expended 2023
2022
£ £ £ £ £
Capital Grants 13,808 22,591 (8,508) - 27,891
Previous year: At 1 Incoming Resources Transfers At 31 August
September resources expended 2022
2021
£ £ £ £ £
Capital grants 6,898 6,993 - (83) 13,808
SENCO 5,000 - (5,000) - -
11,898 6,993 (5,000) (83) 13,808

The 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.

15 Unrestricted funds

At 1 Incoming Incoming Resources Transfers At 31 August Transfers At 31 August
September resources expended 2023
2022
£ £ £ £ £
General funds 187,812 434,753 (543,422) - 79,143
Previous year: At 1 Incoming Resources Transfers At 31 August
September resources expended 2022
2021
£ £ £ £ £
General funds (23,141) 539,895 (329,025) 83 187,812
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
Fund balances at 31 August 2023 are represented by:
Current assets/(liabilities) 79,143 27,891 107,034
79,143 27,891 107,034

16 Analysis of net assets between funds

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

FOR THE YEAR ENDED 31 AUGUST 2023

16 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
Fund balances at 31 August 2022 are represented by:
Current assets/(liabilities) 187,812 13,808 201,620
187,812 13,808 201,620

17 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Creditors include an amount of £175,057 (2022: £175,057) 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 £16,037 (2022: £15,205) from the Trustees.

18 Ultimate Parent Undertaking and Controlling Party

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

19
Cash generated from operations
(Deficit)/surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Movements in working capital:
(Increase) in debtors
Increase/(decrease) in creditors
Cash (absorbed by)/generated from operations		 2023
£
(94,586)
(17)
(4,861)
417
(99,047)		 2022
£
212,863
(2)
(9,731)
(859)
202,271

20 Analysis of changes in net funds

The charity had no material debt during the year.