**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:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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...
Page 11
**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