REGISTERED CHARITY NUMBER: 1121439
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2020
for
BENZI DUNNER SCHOOLS TRUST
Martin+Heller 5 North End Road London NW11 7RJ
BENZI DUNNER SCHOOLS TRUST
Contents of the Financial Statements for the Year Ended 31 August 2020
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 12 |
| Detailed Statement of Financial Activities | 13 |
BENZI DUNNER SCHOOLS TRUST
Report of the Trustees for the Year Ended 31 August 2020
The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of 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
Objectives and aims
The trustees shall hold the trust fund and its income upon trust to apply them for the following objects. To help establish support and maintain Torah education institutions and to generally further promote all activities in connection therewith.
To promote advance religion in accordance with the doctrines and principles of orthodox Judaism. To promote the relief of poverty amongst persons of the Jewish faith.
To further such other charitable purposes which the trustees may determine are connected with the above clauses.
Significant activities
During the year, grants to schools and other charities amounted to £594,317 (2019: £494,116), in addition to regular distributions the charity also offered capital grants to schools on a match funding basis.
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 in planning future activities.
FINANCIAL REVIEW
Reserves policy
It is the charity's policy that only funds that have cleared the bank be allowed to be drawn by donors via the voucher system.
The charity's trustees believe that reserves have to be maintained at a level equivalent to the donors donations, in order to be available to be distributed on the basis of their wishes.
During the year, the charity's incoming resources were exceeded by the outgoing resources. The trustees are satisfied with the results for the year. The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
There has been an average of 3 trustees throughout the period. Any new appointments are at the recommendation of the board.
Organisational structure
The Board of Trustees must have at least 2 Trustees serving at any one time. These trustees liaise with the Senior Administrator who is appointed by the trustees to manage the day-to-day running of the charity.
The entire board meets on a regular basis, at least quarterly or more if required.
Induction and training of new trustees
All new trustees are given, in the view of the board, sufficient training and have enough knowledge of their specific field to understand the nature of the charity and fully comply with the charity's current views of its progression.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1121439
Page 1
BENZI DUNNER SCHOOLS TRUST
Report of the Trustees for the Year Ended 31 August 2020
Principal address 1 Albert Road London NW4 2SH
Trustees
Mr J Pearlman (resigned 30.10.20) Rabbi D Stern Rabbi S M Winegarten
Independent Examiner
Adrian Heller FCA 5 North End Road London NW11 7RJ
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Rabbi D Stern - Trustee
Page 2
Independent Examiner's Report to the Trustees of BENZI DUNNER SCHOOLS TRUST
Independent examiner's report to the trustees of BENZI DUNNER SCHOOLS TRUST
I report to the charity trustees on my examination of the accounts of BENZI DUNNER SCHOOLS TRUST (the Trust) for the year ended 31 August 2020.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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 accounts to be reached.
Adrian Heller FCA 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
BENZI DUNNER SCHOOLS TRUST
Statement of Financial Activities for the Year Ended 31 August 2020
| 31.8.20 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 916,764 EXPENDITURE ON Charitable activities 3 Donations made 594,317 Printing and advert 23,050 Other 6,600 Total 623,967 NET INCOME/(EXPENDITURE) 292,797 RECONCILIATION OF FUNDS Total funds brought forward 310,971 TOTAL FUNDS CARRIED FORWARD 603,768 |
31.8.19 Total funds £ 467,863 494,116 18,475 - 512,591 (44,728) 355,699 310,971 |
|---|---|
The notes form part of these financial statements
Page 4
BENZI DUNNER SCHOOLS TRUST
Balance Sheet 31 August 2020
| 31.8.20 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 603,768 NET CURRENT ASSETS 603,768 TOTAL ASSETS LESS CURRENT LIABILITIES 603,768 NET ASSETS 603,768 FUNDS 8 Unrestricted funds 603,768 TOTAL FUNDS 603,768 |
31.8.19 Total funds £ 310,971 310,971 310,971 310,971 310,971 310,971 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Rabbi D Stern - Trustee
The notes form part of these financial statements
Page 5
BENZI DUNNER SCHOOLS TRUST
Cash Flow Statement for the Year Ended 31 August 2020
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.8.20 £ 292,797 292,797 292,797 310,971 603,768 |
31.8.19 £ (44,728) (44,728) (44,728) 355,699 310,971 |
|---|---|---|
The notes form part of these financial statements
Page 6
BENZI DUNNER SCHOOLS TRUST
Notes to the Cash Flow Statement for the Year Ended 31 August 2020
| 1. | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH | FLOW FROM | |
|---|---|---|---|---|
| OPERATING ACTIVITIES | ||||
| 31.8.20 | 31.8.19 | |||
| £ | £ | |||
| Net income/(expenditure) for the reporting period (as per the | ||||
| Statement of Financial Activities) | 292,797 | (44,728) | ||
| Adjustments for: | ||||
| Net cash provided by/(used in) operations | 292,797 | (44,728) | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1/9/19 | Cash flow | At 31/8/20 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 310,971 | 292,797 | 603,768 | |
| 310,971 | 292,797 | 603,768 | ||
| Total | 310,971 | 292,797 | 603,768 |
The notes form part of these financial statements
Page 7
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements for the Year Ended 31 August 2020
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 31.8.20 | 31.8.19 | |
| £ | £ | |
| Donations | 916,764 | 467,863 |
continued...
Page 8
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 3. CHARITABLE ACTIVITIES COSTS Direct Costs £ Donations made - Printing and advert 23,050 23,050 4. GRANTS PAYABLE Donations made The total grants paid to institutions during the year was as follows: Grants to institutions Total grants paid is comprised as follows: ACHISOMOCH AID COMPANY AMUD HATZDOKOH TRUST ATERES BEIS YAAKOV BEIS SOROH SCHENEIRER BEIS YAAKOV GRAMMAR SCHOOL BEIS YAAKOV PRIMARY SCHOOL CHOIMESH L'CHINUCH ELYON SCHOOL HASMONEAN HIGH SCHOOL HASMONEAN PRIMARY SCHOOL INDEPENDENT JEWISH DAY SCHOOL KEREN HATZOLAS DOROS ALEI SIACH KOLLEL TORAH VEYIRAH LTD MENORAH FOUNDATION MENORAH GRAMMAR SCHOOL MENORAH HIGH SCHOOL MENORAH PRIMARY SCHOOL NOAM PRIMARY SCHOOL NORTH LONDON WELFARE AND EDUCATIONAL FOUNDATION PARDES HOUSE GRAMMAR SCHOOL PARDES HOUSE PRIMARY SCHOOL PENINIM PRIMARY SCHOOL SHIRAS DEVORAH SUPPORT THE CHARITY WORKER TORAH VODAAS TIFERES GIRLS HIGH SCHOOL TIFERES SHLOMO WST TOMCHEI SHABBOS YESAMACH LEVAV TRUST |
Grant funding of activities (see note 4) £ 594,317 - 594,317 31.8.20 £ 594,317 31.8.20 £ 594,317 |
Totals £ 594,317 23,050 617,367 31.8.19 £ 494,116 31.8.19 £ 494,116 7,232 12,259 20,000 5,000 10,000 9,000 9,500 12,860 41,500 5,000 9,000 16,972 7,566 17,500 13,640 10,500 8,000 13,000 5,779 37,000 6,000 11,500 5,500 58,698 6,500 9,500 14,500 12,491 11,216 |
|---|---|---|
continued...
Page 9
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
| 4. GRANTS PAYABLE - continued OTHER DONATIONS LESS THAN £5,000 5. SUPPORT COSTS Other resources expended |
187,104 594,317 Governance costs £ 6,600 |
|---|---|
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 467,863 |
| EXPENDITURE ON | |
| Charitable activities | |
| Donations made | 494,116 |
| Printing and advert | 18,475 |
| Total | 512,591 |
| NET INCOME/(EXPENDITURE) | (44,728) |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 355,699 |
| TOTAL FUNDS CARRIED FORWARD | 310,971 |
continued...
Page 10
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
8. MOVEMENT IN FUNDS
| At 1/9/19 £ Unrestricted funds General fund 310,971 TOTAL FUNDS 310,971 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 916,764 TOTAL FUNDS 916,764 Comparatives for movement in funds At 1/9/18 £ Unrestricted funds General fund 355,699 TOTAL FUNDS 355,699 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 467,863 TOTAL FUNDS 467,863 |
Net movement At in funds 31/8/20 £ £ 292,797 603,768 292,797 603,768 Resources Movement expended in funds £ £ (623,967) 292,797 (623,967) 292,797 Net movement At in funds 31/8/19 £ £ (44,728) 310,971 (44,728) 310,971 Resources Movement expended in funds £ £ (512,591) (44,728) (512,591) (44,728) |
|---|---|
continued...
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BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2020
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1/9/18 £ 355,699 355,699 |
Net movement in funds £ 248,069 248,069 |
At 31/8/20 £ 603,768 603,768 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources |
Movement | |
|---|---|---|---|
| resources | expended |
in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,384,627 | (1,136,558) | 248,069 |
| TOTAL FUNDS | 1,384,627 | (1,136,558) | 248,069 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2020.
Page 12
BENZI DUNNER SCHOOLS TRUST
Detailed Statement of Financial Activities for the Year Ended 31 August 2020
| 31.8.20 | 31.8.19 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 916,764 | 467,863 |
| Total incoming resources | 916,764 | 467,863 |
| EXPENDITURE | ||
| Charitable activities | ||
| Advertisement, printing and stationery | 23,050 | 18,475 |
| Grants to institutions | 594,317 | 494,116 |
| 617,367 | 512,591 | |
| Support costs | ||
| Governance costs | ||
| Bookkeeping | 6,600 | - |
| Total resources expended | 623,967 | 512,591 |
| Net income/(expenditure) | 292,797 | (44,728) |
This page does not form part of the statutory financial statements
Page 13