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2020-08-31-accounts

Charity Registration No. 1120262

Company Registration No. 05840791 (England and Wales)

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Mr. A Grossman Mr J Damen Miss F Lias

Charity number 1120262 Company number 05840791 Registered office 85 Lordship Road London N16 0QY

Independent examiner

Berish Hoffman ACA 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7 - 8
Statement of cash flows 9
Notes to the financial statements 10 - 20

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2020

The trustees present their report and financial statements for the year ended 31 August 2020.

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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The Charity's objectives include:

a) The advancement of further education and teacher training in particular but not exclusively for the benefit of young people of the orthodox Jewish faith.

b) The advancement of education and training for youth groups and/or individuals to relieve unemployment and with a particular view to promoting a career in teaching.

c) The relief of poverty by providing financial assistance and study grants to youth groups and/or individuals of the orthodox Jewish faith to relieve unemployment and with a particular view to promoting a career in teaching.

d) The provision of facilities for recreation and other leisure time occupation for young people who are in need of such provision because of their youth, age, infirmity, poverty or social and economic circumstances and with the object of improving their conditions of life.

Grant making policy

Grants are made to charitable institutions, organisations and authorised individuals which accord with the objects of the charity and at the discretion of the trustees.

Public benefit

The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and planning future a ctivities.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Achievements and performance

This year has been a challenging one for all of mankind, even more so for young people, who rely on structured support systems, primarily with regards to education, career guidance and personal development.

Jewish Training Academy for Girls Ltd is pleased to report that we were able to support our young women during these turbulent times, adapting our provisions and methods of operation to best support them in line with changing needs and government guidelines for the education sector.

All staff remained continued to work during this period, adapting roles where necessary to support our beneficiaries in the best possible manner in a fast changing environment. Most of our educational programmes were moved to telephone provision (to support users’ unique access requirements) and we introduced new support systems, including bringing on board a part-time psychotherapist, to ensure the safety and wellbeing of our young women and staff.

This support was made possible through the generous donations of funding partners such as the National Lottery Community Fund in conjunction with DCMS, the Hackney Youth Opportunity Fund and the flexibility of our BBC Children In Need funding, as well as other anonymous donors.

Prior to the pandemic, we continued to deliver a range of vocational courses included hairdressing, flower arranging, confectionery, craft, and pyrography. These were funded by an Awards for All grant from The National Lottery and were aimed at providing our students with a positive experience, enhancing social skills as well as giving opportunities to the less-able academic to be successful in other areas. 60 young adults were involved across these courses and all achieved an AQA Unit Award Scheme accreditation upon successful completion of their course. Attendance rates were very high across all courses, showing how much these were valued and enjoyed by participants.

JTAG experienced a good year with regards to the academic courses, despite the challenges which presented at the start of the pandemic. We continued to offer an advanced financial capability course from the IFS school of finance. The course teaches fantastic skills in money management, debt awareness and making healthy financial decisions. In addition, many financial terms and concepts are explained. This was successfully moved to phone provision in May 2020, enabling participants to complete the program remotely.

The number of young women attending the college without obtaining pass grades in school in core GCSE subjects is escalating. We once again offered a functional skills program in Mathematics and English for those that needed extra support in order to progress with further education.

We also repeated our intensive teachers training course delivered to the highest specification. The course covered general teachers training including topics like planning, delivering and assessing lessons. The subject specific training was delivered by a subject specialist. All points were accrued over the course period and aimed to establish excellent teaching abilities, good employability skills as well as responsibility in the work place. We were able to continue some of the program remotely, however a lot of the practical work, including observations and placements did not take place due to the restrictions at the time.

As in previous years, our students took advantage of our career advice, in which we discussed all available options individually. CV writing skills were also taught and every participant produced a well presented personal profile. The majority of this was done remotely and adapted according to the current employment norms, including remote working practices and information about the Kickstart scheme.

Once again we delivered a high quality social awareness programme supported by a grant from BBC Children in Need as part of a 3 year rolling program. Young people developed emotional and social capacity, and practiced communication and conflict resolution techniques. This was especially welcome during the initial months of the pandemic and supported beneficiaries with their mental health and wellbeing during these challenging times.

We are pleased with the general performance this year, despite the unexpected challenges that presented, and look forward to shaping London’s recovery over the next few years, with an emphasis on filling education gaps and supporting young women into employment.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

Financial review

During the period, the charity's general fund income exceeded expenditure. See pages 6 and 7 of the financial statements for details of the financial performance and position of the charity. The trustees are satisfied with the results for the period.

Reserves policy

The T rustees aim to hold reserves of at least three months’ activity running costs to safeguard the continued delivery of services. At the year end, the charity held free reserves totalling £173,103 .

The Trustees are confident that, despite the past year’s challenges, the charity will continue to deliver education provision and support for young women. The charity remains financially stable and has adequate unrestricted reserves.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Plans for futrue periods

JTAG Ltd will continue delivering education and employment support to young women, whilst being mindful of government COVID guidelines, with regards to the education sector. There will be a strong emphasis on supporting young people to fill gaps in education and to help them through a growing youth unemployment crisis.

We look forward to shaping London’s recovery over the next few years, with an emphasis on filling education gaps and supporting young women into employment.

Structure, governance and management

The charity is constituted as a company limited by guarantee and as such, its governing documents are its Memorandum and Articles of Association dated 8 June 2006 as amended on 9 November 2007.

The trustees meet regularly to administer the day-to-day affairs of the charity. None of the trustees have any beneficial interest in the charity.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr. A Grossman Mr J Damen Miss F Lias

Recruitment, Induction and Training

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum and Articles of Association.

It is not the intention of the trustees of the charity to appoint any new trustees for the foreseeable future. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.

Risk management

The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived ris ks.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

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

Mr J Damen

Trustee Dated: 27 May 2021

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED

I report to the trustees on my examination of the financial statements of Jewish Training Academy for Girls (JTAG) Limited (the charity) for the year ended 31 August 2020.

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, 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

325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

Dated: 27 May 2021

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2020

Unrestricted
Restricted
funds
funds
2020
2020
Notes
£
£
Income from:
Donations and legacies
2
633,939
15,650
Investments
3
12,499
-
Total income
646,438
15,650
Expenditure on:
Raising funds
4
3,698
-
Charitable activities
5
546,480
26,778
Total resources
expended
550,178
26,778
Gross transfers
between funds
-
-
Net income/(expenditure)
for the year/
Net movement in funds
96,260
(11,128)
Fund balances at 1
September 2019
446,289
13,504
Fund balances at 31
August 2020
542,549
2,376		 TotalUnrestricted
Restricted
funds
funds
2020
2019
2019
£
£
£
649,589
676,073
28,015
12,499
33,252
-
662,088
709,325
28,015
3,698
12,008
-
573,258
428,208
24,604
576,956
440,216
24,604
-
500
(500)
85,132
269,609
2,911
459,793
176,680
10,593
544,925
446,289
13,504		 Total
2019
£
704,088
33,252
737,340
12,008
452,812
464,820
-
272,520
187,273
459,793

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.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 AUGUST 2020

2020
Notes
£
Fixed assets
Tangible assets
11
Current assets
Debtors
12
333,646
Cash at bank and in hand
328,515
662,161
Creditors: amounts falling due within
one year
13
(140,725)
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
14
Net assets
Income funds
Restricted funds
15
Unrestricted funds
Designated funds
16
300,000
General unrestricted funds
242,549		 2019
£
£
71,822
337,890
221,560
559,450
(114,609)
521,436
593,258
(48,333)
544,925
2,376
-
446,289
542,549
544,925		 £
14,952
444,841
459,793
-
459,793
13,504
446,289
459,793

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2020

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 2020.

The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 27 May 2021

Mr J Damen

Trustee

Company Registration No. 05840791

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2020

Notes
Cash flows from operating activities
Cash generated from operations
19
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash (used in)/generated from
investing activities
Financing activities
Bank loans
Net cash generated from/(used in)
financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2020
£
(62,392)
12,499
50,000		 £
106,848
(49,893)
50,000
106,955
221,560
328,515		 2019
£
(2,376)
33,252
-		 £
56,227
30,876
-
87,103
134,457
221,560

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

Charity information

Jewish Training Academy for Girls (JTAG) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 85 Lordship Road, London, N16 0QY.

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) (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 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

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

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

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

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.

Grants payable are charged in the year when the offer is made except 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 met at the year end are noted as a commitment, but not accrued as expenditure.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements over term of the lease Fixtures and fittings 33% reducing balance Computers 33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 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.

1.8 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.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

(Continued)

Derecognition of financial liabilities

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

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2020
2020
£
£
Donations and gifts
28,543
-
Grants
605,396
15,650
633,939
15,650
Investments
Rental income
Interest receivable		 TotalUnrestricted
Restricted
Total
funds
funds
2020
2019
2019
2019
£
£
£
£
28,543
41,527
-
41,527
621,046
634,546
28,015
662,561
649,589
676,073
28,015
704,088
UnrestrictedUnrestricted
funds
funds
2020
2019
£
£
12,000
32,900
499
352
12,499
33,252

3 Investments

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

4 Raising funds

Unrestricted Unrestricted
funds funds
2020 2019
£ £
Fundraising and publicity
Other fundraising costs 3,698 12,008
3,698 12,008
Charitable activities
2020 2019
£ £
Staff costs 185,235 151,911
Depreciation and impairment 5,522 7,365
Course running costs 144,528 121,883
Premises costs 128,407 117,471
Trips 67,470 -
Therapy costs 5,065 -
536,227 398,630
Grant funding of activities (see note 6) - 20,361
Share of support costs (see note 7) 33,335 30,581
Share of governance costs (see note 7) 3,696 3,240
573,258 452,812
Analysis by fund
Unrestricted funds 546,480 428,208
Restricted funds 26,778 24,604
573,258 452,812

5 Charitable activities

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

6 Grants payable

Grants to institutions:
Activiteens
Talmud Torah Beis Shlomo
Others < £1000		 2020
£
-
-
-
-		 2019
£
1,000
18,000
1,361
20,361

Grants were paid to the above charities in line with the charity's objectives.

7 Support costs

Support
costs
Governance
costs
£
£
Office expenses
10,818
-
Computer costs
1,196
-
Travel costs
10,564
-
Sundry expenses
4,810
-
Bank charges
1,099
-
Repairs and renewals
648
-
Legal and Professional
fees
4,200
-
Accountancy fees
-
3,696
33,335
3,696
Analysed between
Charitable activities
33,335
3,696		 2020
Support
costs
Governance
costs
£
£
£
10,818
9,717
-
1,196
414
-
10,564
9,680
-
4,810
2,983
-
1,099
1,134
-
648
1,133
-
4,200
5,520
-
3,696
-
3,240
37,031
30,581
3,240
37,031
30,581
3,240		 2019
£
9,717
414
9,680
2,983
1,134
1,133
5,520
3,240
33,821
33,821

8 Trustees

During the year a trustee was paid £7,904 (2019: £7,904) as an employee of the charity not for trustee services.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

9 Employees

The average monthly number of employees during the year was:

Teachers
Lecturers
Fundraising
Course Co-ordination
Administration
Secretarial
Programme Co-ordinator
Senco
Total
Employment costs
Wages and salaries
Other pension costs		 2020
Number
20
4
3
2
3
3
1
1
37
2020
£
185,271
(36)
185,235		 2019
Number
23
4
3
2
3
3
1
1
40
2019
£
151,618
293
151,911

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

10 Independent Examiner's Remuneration

The Independent Examiner's remuneration amounts to an Independent Examination fee of £1,000 (2019: £1,000), and accountancy services of £2,696 (2019: £2, 2 4 0 ).

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

11
Tangible fixed assets
Leasehold
improvements
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 September 2019
-
46,253
27,540
Additions
60,610
1,782
-
At 31 August 2020
60,610
48,035
27,540
Depreciation and impairment
At 1 September 2019
-
33,548
25,293
Depreciation charged in the year
-
4,780
742
At 31 August 2020
-
38,328
26,035
Carrying amount
At 31 August 2020
60,610
9,707
1,505
At 31 August 2019
-
12,705
2,247
12
Debtors
2020
Amounts falling due within one year:
£
Other debtors
333,646
Prepayments and accrued income
-
333,646
13
Creditors: amounts falling due within one year
2020
Notes
£
Bank loans
1,667
Other taxation and social security
-
Trade creditors
102,033
Other creditors
33,825
Accruals and deferred income
3,200
140,725		 Total
£
73,793
62,392
136,185
58,841
5,522
64,363
71,822
14,952
2019
£
305,797
32,093
337,890
2019
£
-
317
88,949
11,103
14,240
114,609

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

14 Creditors: amounts falling due after more than one year
2020 2019
Notes £ £
Bank loans 48,333 -

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Balance at
1 September resources expended 1 September resources expended 31 August
2018 2019 2020
£ £ £ £ £ £ £ £
Projects 5,300 28,015 (22,857) (500) 9,958 15,650 (25,608) -
Security equipment 5,293 - (1,747) - 3,546 - (1,170) 2,376
10,593 28,015 (24,604) (500) 13,504 15,650 (26,778) 2,376

The project funds relate to amounts received for specific p rojects operated by the charity.

The security equipment fund relates to amounts received for purchasing security equipment.

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

16 Designated funds

Balance at
1 September
2019
£
Designated fund
-
-		 Transfers
Balance at
31 August
2020
£
£
300,000
300,000
300,000
300,000

Designated funds represent amounts sent aside by the trustees in order to accumulate funds towards the purchase of a building.

17 Analysis of net assets between funds

Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 31
August 2020 are
represented by:
Tangible assets
69,446
2,376
Current assets/
(liabilities)
521,436
-
Long term liabilities
(48,333)
-
542,549
2,376		 TotalUnrestricted
funds
Restricted
funds
2020
2019
2019
£
£
£
71,822
11,406
3,546
521,436
434,883
9,958
(48,333)
-
-
544,925
446,289
13,504		 Total
2019
£
14,952
444,841
-
459,793

JEWISH TRAINING ACADEMY FOR GIRLS (JTAG) LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

18 Related party transactions

During the year, rent of £ 10,000 (2019: £32,000) was receivable from Beis Malka Trust, a charity with a common trustee. At the year end £18,000 (2019: £nil) was due from Beis Malka Trust.

At the year end, £5,000 (2019: £11,000) was owed to M Grossman , a trustee of the charity

19 Cash generated from operations 2020 2019
£ £
Surplus for the year 85,132 272,520
Adjustments for:
Investment income recognised in statement of financial activities (12,499) (33,252)
Depreciation and impairment of tangible fixed assets 5,522 7,365
Movements in working capital:
Decrease/(increase) in debtors 4,244 (140,165)
Increase/(decrease) in creditors 24,449 (50,241)
Cash generated from operations 106,848 56,227
20 Analysis of changes in net funds
At 1 September Cash flows At 31 August
2019 2020
£ £ £
Cash at bank and in hand 221,560 106,955 328,515
Loans falling due within one year - (1,667) (1,667)
Loans falling due after more than one year - (48,333) (48,333)
221,560 56,955 278,515