REGISTERED CHARITY NUMBER: 1121439
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
FOR
THE BENZI DUNNER SCHOOLS TRUST
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
THE BENZI DUNNER SCHOOLS TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Report of the Independent Auditors | 3 to 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Cash Flow Statement | 8 |
| Notes to the Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10 to 14 |
THE BENZI DUNNER SCHOOLS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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
The trustees shall hold the trust fund and its income upon trust to apply them for the following objects:
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To help establish support and maintain Torah education institutions and to generally further promote all activities in connection therewith.
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To promote advance religion in accordance with the doctrines and principles of orthodox Judaism.
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To promote the relief of poverty amongst persons of the Jewish faith.
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To further such other charitable purposes which the trustees may determine are connected with the above clauses.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trustees are satisfied with the results for the year. The charity derives its income from donations; the charity recorded a surplus for the year. Grants made to schools and other charities amounted to £901,940 (2023: £962,003).
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.
Grantmaking
Grants are made to charitable institutions and organisations which accord with the objects of the charity. On the restricted fund, grants are made in accordance with the wishes of the donor once sufficient checks are undertaken to ensure the recipient's objectives are both charitable and in line with the objectives of the charity.
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. Reserves at the year end stood at £802,723 (2023 - £650,996).
FUTURE PLANS
The charity plans to continue its activities for the foreseeable future subject to satisfactory income.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by a declaration of trust dated 3[rd] August 2007 and constitutes a Charitable Trust.
Risk management
The trustees have reviewed the major risks to which the charity is exposed and confirm that they have established systems to mitigate them.
Organisational structure
The Board of Trustees must have at least two trustees serving at any one time. There is an administration committee dealing with fundraising and raising the charity's profile. The day-to-day running of the charity is by an administrator. Meetings are held periodically throughout the year.
Induction and training of new trustees
The power to appoint new trustees is vested in the continuing board. 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.
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THE BENZI DUNNER SCHOOLS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1121439
Principal address
1 Albert Road London NW4 2SH
Trustees
Rabbi S Weingarten Rabbi D Stern
Auditors
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
Bankers
National Westminster Bank Plc 21 Golders Green Road London NW11 8EB
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 30 June 2025 and signed on its behalf by:
Rabbi D Stern - Trustee
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BENZI DUNNER SCHOOLS TRUST
Opinion
We have audited the financial statements of The Benzi Dunner Schools Trust (the 'charity') for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland.
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 August 2024 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BENZI DUNNER SCHOOLS TRUST
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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We assess compliance with applicable laws and regulations that could reasonably be expected to have a material effect on the financial statements. The key laws and regulations we have considered in this context included the Charities SORP (FRS 102). In addition, we have considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. We discussed with management the extent of compliance with those laws and regulations as part of our audit procedures.
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We address the risk of fraud through management override of controls, by obtaining an understanding of internal control and by designing audit procedures that are appropriate and sufficient. We evaluated the appropriateness of accounting policies used and the reasonableness of accounting estimates and judgements made by management. We identified and assessed any significant transactions that are unusual or outside the normal course of business, and we incorporated testing of manual journal entries and corrections into our audit approach.
-Our audit procedures were designed to identify and assess risks of material misstatement in the financial statements, whether due to fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve collusion, forgery, omissions, misrepresentations, or management override of controls. We communicated identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. The engagement partner considers the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations.
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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE BENZI DUNNER SCHOOLS TRUST
-There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion. Our responsibility is to conclude whether the financial statements represent the underlying financial position and activities of the charity and to ensure that the overall content and presentation of the financial statements gives a fair view.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Sugarwhite Meyer Accountants Ltd Chartered Accountants & Statutory Auditor First Floor 94 Stamford Hill London N16 6XS
30 June 2025
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THE BENZI DUNNER SCHOOLS TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Grantmaking Printing and advertising Support Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2024 Restricted fund £ 1,074,427 24,849 1,099,276 901,940 35,049 10,560 947,549 151,727 650,996 802,723 |
2023 Total funds £ 1,061,830 4,452 1,066,282 962,003 34,212 7,800 1,004,015 62,267 588,729 650,996 |
|---|---|---|
The notes form part of these financial statements
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THE BENZI DUNNER SCHOOLS TRUST
BALANCE SHEET 31 AUGUST 2024
| Notes CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9 Restricted funds TOTAL FUNDS |
2024 Restricted fund £ 806,683 (3,960) 802,723 802,723 802,723 802,723 802,723 |
2023 Total funds £ 650,996 - 650,996 650,996 650,996 650,996 650,996 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 30 June 2025 and were signed on its behalf by:
Rabbi D Stern - Trustee
The notes form part of these financial statements
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THE BENZI DUNNER SCHOOLS TRUST
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing 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 |
2024 £ 130,838 130,838 24,849 24,849 155,687 650,996 806,683 |
2023 £ 57,815 57,815 4,452 4,452 62,267 588,729 650,996 |
|---|---|---|
The notes form part of these financial statements
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THE BENZI DUNNER SCHOOLS TRUST
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of | |||
| Financial Activities) | 151,727 | 62,267 | |
| Adjustments for: | |||
| Interest received | (24,849) | (4,452) | |
| Increase in creditors | 3,960 | - | |
| Net cash provided by operations | 130,838 | 57,815 |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.9.23 | Cash flow | At 31.8.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 650,996 | 155,687 | 806,683 |
| 650,996 | 155,687 | 806,683 | |
| Total | 650,996 | 155,687 | 806,683 |
The notes form part of these financial statements
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THE BENZI DUNNER SCHOOLS TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
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 in the year in which they are incurred and includes irrecoverable VAT which is reported as part of the expenditure to which it relates.
Grants are only recognised in the accounts when paid.
Support costs are those incurred to assist the work of the charity but are not direct charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
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.
Going concern
There are no material uncertainties about the charity’s ability to continue.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Donations | 1,074,427 | 1,061,830 |
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THE BENZI DUNNER SCHOOLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
3. INVESTMENT INCOME
| Deposit account interest 4. CHARITABLE ACTIVITIES COSTS |
2024 £ 24,849 |
2023 £ 4,452 |
|---|---|---|
| Grantmaking Printing and advertising Support 5. GRANTS PAYABLE Grantmaking The total grants paid to institutions during the Grants to institutions Total grants paid is comprised as follows: Ahavas Chesed Trust Alymos Limited Amud Hatzdokoh Trust Ateres Beis Yaakov Limited Bederech Kovod Beis Hamedrash Ohr Chodosh Beis Hamedrash Yissochor Dov Beis Medrash Elyon Beis Shmuel Synagogue Beis Soroh Schneirer Beis Yaakov Grammar School Beis Yaakov Primary School Bnos Beis Yaakov Primary School Chevras Mo'Oz Ladol Collel Chibath Yerushalayim Comet Charities Limited Friends of Beis Chinuch Lebonos Friends of Beis Soroh Schneirer Friends of Kupat Hakohol Kiryat Sefer Golders Green Beth Hamedrash Hasmonean High School For Boys Hasmonean High School For Girls Hasmonean Primary School |
Grant funding of activities Direct (see note Costs 5) £ £ - 901,940 35,049 - - - 35,049 901,940 year was as follows: |
Support costs (see note 6) £ - - 10,560 10,560 2024 £ 901,940 2024 £ 901,940 |
Totals £ 901,940 35,049 10,560 947,549 2023 £ 962,003 2023 £ 962,003 10,847 6,812 83,013 10,000 17,486 5,273 13,397 10,360 6,512 10,000 10,000 5,000 10,000 8,409 19,847 11,243 17,623 11,819 8,504 5,304 5,900 6,350 5,000 |
|---|---|---|---|
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THE BENZI DUNNER SCHOOLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
| Hendon Adath Yisroel Congregation Independent Jewish Day School Keren Hatzdokoh Gateshead Kupat Chaim V'Chesed Machzikei Lomdei Torah Menorah Grammar School Menorah High School For Girls Mercaz Hatorah Belz Machnovke Merkaz Chasidei Wiznitz Trust MGS Charitable Trust Ner Yisrael North London Welfare And Educational Foundation Pardes House Grammar School Pardes House Primary School Peninim Girls School Shabbat Walk Sharei Chesed London Shir Chesed Beis Yisroel Shiras Devorah High School SOWS Charity Talmud Torah Tiferes Shlomo The Bridge Lane Beth Hamedrash Torah Temimah Primary School Torah Vodaas Primary School TS Trust WST Tomchei Shabbos Yad Vochessed Yesamach Levav Trust Yishaye Adler Memorial Fund Youth Space Other donations less than £5,000 |
10,797 10,000 5,017 5,804 6,445 10,000 10,000 13,669 14,641 6,387 11,348 10,393 10,000 10,000 10,000 6,295 7,433 7,388 5,000 8,736 5,496 7,843 10,000 17,004 11,267 20,014 41,066 25,570 11,060 9,597 264,971 901,940 |
|---|---|
6. SUPPORT COSTS
| Support Support costs, included in the above, are as follows: Governance costs Auditors' remuneration Legal and professional |
Governance costs £ 10,560 2024 2023 Total Support activities £ £ 3,960 - 6,600 7,800 10,560 7,800 |
|---|---|
Support costs, included in the above, are as follows:
Governance costs
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THE BENZI DUNNER SCHOOLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 9. MOVEMENT IN FUNDS |
2024 £ 3,960 |
2023 £ - |
|---|---|---|
| Restricted funds Restricted fund TOTAL FUNDS |
At 1.9.23 £ 650,996 650,996 |
Net movement in funds £ 151,727 151,727 |
At 31.8.24 £ 802,723 802,723 |
|---|---|---|---|
Net movement in funds, included in the above are as follows:
| Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 1,099,276 1,099,276 |
Resources expended £ (947,549) (947,549) |
Movement in funds £ 151,727 151,727 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 1,066,282 1,066,282 |
Resources expended £ (1,004,015) (1,004,015) |
Movement in funds £ 62,267 62,267 |
|---|---|---|---|
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THE BENZI DUNNER SCHOOLS TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2024.
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