REGISTERED CHARITY NUMBER: 1121439
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
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 2022
| 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 13 |
| Detailed Statement of Financial Activities | 14 |
BENZI DUNNER SCHOOLS TRUST
Report of the Trustees for the Year Ended 31 August 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. 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 £789,233 (2021: £653,640), 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 exceeded 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 2 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.
Page 1
BENZI DUNNER SCHOOLS TRUST
Report of the Trustees for the Year Ended 31 August 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1121439
Principal address
1 Albert Road London NW4 2SH
Trustees
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 2022.
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 2022
| 31.8.22 | 31.8.21 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | Total funds | |||
| Notes | £ | £ | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 2 | 989,348 | 499,073 | |
| EXPENDITURE ON | ||||
| Charitable activities | 3 | |||
| Donations made | 789,233 | 653,640 | ||
| Printing and advert | 31,200 | 15,837 | ||
| Other | 6,950 | 6,600 | ||
| Total | 827,383 | 676,077 | ||
| NET INCOME/(EXPENDITURE) | 161,965 | (177,004) | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 426,764 | 603,768 | ||
| TOTAL FUNDS CARRIED FORWARD | 588,729 | 426,764 |
The notes form part of these financial statements
Page 4
BENZI DUNNER SCHOOLS TRUST
Balance Sheet 31 August 2022
| 31.8.22 | 31.8.21 | |||
|---|---|---|---|---|
| Unrestricted | ||||
| fund | Total funds | |||
| Notes | £ | £ | ||
| CURRENT ASSETS | ||||
| Cash at bank | 588,729 | 426,764 | ||
| NET CURRENT ASSETS | 588,729 | 426,764 | ||
| TOTAL ASSETS LESS CURRENT | ||||
| LIABILITIES | 588,729 | 426,764 | ||
| NET ASSETS | 588,729 | 426,764 | ||
| FUNDS | 8 | |||
| Unrestricted funds | 588,729 | 426,764 | ||
| TOTAL FUNDS | 588,729 | 426,764 |
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 2022
| 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 |
31.8.22 £ 161,965 161,965 161,965 426,764 588,729 |
31.8.21 £ (177,004) (177,004) (177,004) 603,768 426,764 |
|---|---|---|
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 2022
1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Net cash provided by/(used in) operations |
31.8.22 £ 161,965 161,965 |
31.8.21 £ (177,004) (177,004) |
|---|---|---|
- ANALYSIS OF CHANGES IN NET FUNDS
| At 1/9/21 | Cash flow | At 31/8/22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 426,764 | 161,965 | 588,729 |
| 426,764 | 161,965 | 588,729 | |
| Total | 426,764 | 161,965 | 588,729 |
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 2022
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 | 31.8.22 £ 989,348 |
31.8.21 £ 499,073 |
|---|---|---|
continued...
Page 8
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
3. CHARITABLE ACTIVITIES COSTS
| Donations made Printing and advert 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 BEDERECH KOVOD BEIS CHINUCH PRIMARY SCHOOL BEIS HAMEDRASH YISSOCHOR DOV BEIS SHMUEL SYNAGOGUE BEIS YAAKOV GRAMMAR SCHOOL BEIS YAAKOV PRIMARY SCHOOL BLOOMING BLOSSOMS TRUST COLLEL CHIBATH YERUSHALAYIM COMET CHARITIES LIMITED FRIENDS OF BEIS CHINUCH LEBONOS FRIENDS OF KEREN HASHVIIS FRIENDS OF KUPAT HAKOHOL KIRYAT SEFER GGBH HASMONEAN HIGH SCHOOL FOR BOYS HASMONEAN HIGH SCHOOL FOR GIRLS HASMONEAN PRIMARY SCHOOL HENDON ADATH YISROEL CONGREGATION KEREN CHOCHMAS SHLOMA TRUST KOLEL SHOMRE HACHOMOS KOLLEL TORAH VEYIRAH LTD MENORAH FOUNDATION SCHOOL MENORAH GRAMMAR SCHOOL MENORAH HIGH SCHOOL FOR GIRLS MENORAH PRIMARY SCHOOL |
Grant funding of activities Direct (see note Costs 4) £ £ - 789,233 31,200 - 31,200 789,233 31.8.22 £ 789,233 31.8.22 £ 789,233 |
Totals £ 789,233 31,200 820,433 31.8.21 £ 653,640 31.8.21 £ 653,640 10,526 61,264 10,094 13,750 10,778 7,731 19,500 16,284 6,037 11,288 8,264 5,202 6,138 7,366 5,553 43,000 5,000 3,602 5,937 13,300 8,925 14,886 15,250 9,500 21,500 15,875 |
|---|---|---|
continued...
Page 9
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
4. GRANTS PAYABLE - continued
| MERKAZ CHASIDEI WIZNITZ TRUST MGS CHARITABLE TRUST MIFAL HACHESED VEHATZDOKOH NER YISRAEL NORTH LONDON WELFARE AND EDUCATIONAL FOUNDATION PARDES HOUSE GRAMMAR SCHOOL PARDES HOUSE PRIMARY SCHOOL SUPPORT THE CHARITY WORKER TALMUD TORAH TIFERES SHLOMO THE BRIDGE LANE BETH HAMEDRASH TIFERES GIRLS HIGH SCHOOL TORAH (5759) LTD TORAH VODAAS PRIMARY SCHOOL WST TOMCHEI SHABBOS YAD VOCHESSED YESAMACH LEVAV TRUST YISHAYE ADLER MEMORIAL FUND OTHER DONATIONS LESS THAN £5,000 |
7,166 7,023 8,046 6,469 7,284 8,000 5,250 11,296 10,750 6,906 9,500 8,467 14,500 26,463 29,625 15,780 5,116 245,042 |
|---|---|
| 789,233 |
5. SUPPORT COSTS
| SUPPORT COSTS | |
|---|---|
| Governance | |
| costs | |
| £ | |
| Other resources expended | 6,950 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
continued...
Page 10
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 499,073 | |||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Donations made | 653,640 | |||
| Printing and advert | 15,837 | |||
| Other | 6,600 | |||
| Total | 676,077 | |||
| NET INCOME/(EXPENDITURE) | (177,004) | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 603,768 | |||
| TOTAL FUNDS CARRIED FORWARD | 426,764 | |||
| 8. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | ||||
| At 1/9/21 | in funds | At 31/8/22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 426,764 | 161,965 | 588,729 | |
| TOTAL FUNDS | 426,764 | 161,965 | 588,729 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 989,348 | (827,383) | 161,965 | |
| TOTAL FUNDS | 989,348 | (827,383) | 161,965 |
continued...
Page 11
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/9/20 | in funds | At 31/8/21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 603,768 | (177,004) | 426,764 |
| TOTAL FUNDS | 603,768 | (177,004) | 426,764 |
| Comparative net movement in funds, included | in the above are as follows: | ||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 499,073 | (676,077) | (177,004) |
| TOTAL FUNDS | 499,073 | (676,077) | (177,004) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/9/20 | in funds | At 31/8/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 603,768 | (15,039) | 588,729 |
| TOTAL FUNDS | 603,768 | (15,039) | 588,729 |
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 | 1,488,421 | (1,503,460) | (15,039) |
| TOTAL FUNDS | 1,488,421 | (1,503,460) | (15,039) |
continued...
Page 12
BENZI DUNNER SCHOOLS TRUST
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2022.
Page 13
BENZI DUNNER SCHOOLS TRUST
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Total incoming resources EXPENDITURE Charitable activities Advertisement, printing and stationery Grants to institutions Support costs Governance costs Bookkeeping Total resources expended Net income/(expenditure) |
31.8.22 £ 989,348 989,348 31,200 789,233 820,433 6,950 827,383 161,965 |
31.8.21 £ 499,073 499,073 15,837 653,640 669,477 6,600 676,077 (177,004) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 14