2023-08-31-accounts

Registered number: 06319377 Charity number: 1121959

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FINCHLEY JEWISH PRIMARY SCHOOL TRUST

(A company limited by guarantee)

CONTENTS

	Page
Reference and administrative details of the Company, its Trustees and advisers	1
Trustees’ report	2-6
Independent auditors’ report on the financial statements	7-10
Statement of financial activities	11
Balance sheet	12-13
Statement of cash flows	14
Notestothefinancialstatements	15-29

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2023

Trustees Mr R Gershon, Trustee Mr| Kamiel, Trustee (Resigned 13 February 2024) Mr D Lewis, Trustee (resigned 23 May 2024) Dr G Marks, Trustee Mr J Newman, Chairman (Resigned 31 August 2023) Mr M Weinstein, Trustee Mr A J Phillips, Trustee Ms P Simmons (resigned 10 February 2024) Mr N Swerner (appointed 25 March 2024)

Company registered number 06319377 Charity registered number 1121959 Registered office 31 Stanhope Road London N12 9DX

Independent auditors BKL Audit LLP 35 Ballards Lane London N3 1XW

Bankers Lloyds 25 Gresham Street London EC2V 7HN

Page 1

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023

The Trustees present their annual report together with the audited financial statements of the Company for the period 1 September 2022 to 31 August 2023. The Annual report serves the purposes of both a Trustees’ report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The objectives of the charity as per its governing document are:

• e To advance the education of children through the establishment of a Jewish primary school under the religious direction of the Office of the Chief Rabbi; and

• e To advance the Jewish religion, to relieve poverty or for any other charitable purpose beneficial to the community by the provision of facilities or otherwise as the Trustees shall from time to time determine.

The school achieved one of the long-term aims of the company and became a Voluntary Aided state school on 1 April 2013.

In furtherance of its charitable objects, during the year to 31 August 2023, the company completed the final stage of building works to enable Sacks Morasha JPS to continue to advance the education of all children who attend the school. In addition, the company provides Jewish religious education to all children who attend the school.

On 1 March 2019, Sacks Morasha became a founding school of the Jewish Community Academy Trust (‘JCAT’) and converted from being a Voluntary Aided status school into an Academy on that date. The school does not charge any fees and the costs of providing charitable activities are met from donations.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.

b. Strategies for achieving objectives

The trustees have the following key strategic plans in order to achieve their objectives for the school:

• e Maintaining the Sacks Morasha’s Stanhope Road premises to provide a facility that ensures the highest quality of education for the children

• e Continuing maximum potential pupil intakes in each year.

• e Retaining and recruiting leading-edge staff members to drive the delivery of the school's ethos while supporting staff training and development needs.

• e Achieving core financial stability.

The delivery of these is underpinned by a comprehensive and detailed Business Plan.

Page 2

FINCHLEY JEWISH PRIMARY SCHOOL TRUST

(A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

The trustees will continue to undertake a number of activities and maintain spending priorities for the school, in line with the strategic priorities of Sacks Morasha.

d. Main activities undertaken to further the Company's purposes for the public benefit

As Sacks Morasha school does not charge any fees, the trust raises donations from benefactors to meet the costs of providing charitable activities, including the provision of Jewish religious education to all children who attend the school.

In furtherance of its charitable objects, during the year to 31 August 2023, the company completed the final stage of building works to enable Sacks Morasha JPS to continue to advance the education of all children who attend the school.

Achievements and performance

a. Main achievements of the Charity

As Sacks Morasha school does not charge any fees, the trust has raised donations from benefactors during the year to 31 August 2023 in order to meet the costs of providing charitable activities, including the provision of Jewish religious education to all children who attend the school. In furtherance of its charitable objects, during the year to 31 August 2023, the company also completed the final stage of building works to enable Sacks Morasha JPS to continue to advance the education of all children who attend the school.

b. Key performance indicators

In furtherance of its charitable objects, during the year to 31 August 2023, the company completed the final stage of building works to enable Sacks Morasha JPS to continue to advance the education of all children who attend the school. In addition, the company has raised £929,377 in donations and legacies in the year to 31 August 2023 to support the provision of Jewish religious education to all children who attend the school.

c. Review of activities

The challenge for Sacks Morasha has been to create a school that achieves educational excellence in both secular and religious studies, with an impetus to integrate both so that the school's pupils can appreciate both parts of their world, whilst understanding and respecting the wider community.

Funds raised during the period were utilised to provide infrastructure investment for the school, support the Jewish Studies curriculum at Sacks Morasha as well as to finance the major construction work undertaken in the period in order to extend the school building.

Sacks Morasha continues to meet and exceed all the expectations that the founding governors had when setting up the school and are delighted with the excellent standard of education and care that is provided by the teaching staff as part of a supportive school community. To this extent the Charity made a surplus (income less direct operating costs), thereby enabling it to make donations to the Jewish Community Academy Trust (‘JCAT') to support the day-to-day running of Sacks Morasha school.

The school's achievements are a validation of all the hard work that the staff, governors, and trustees have put into establishing, and then developing, Sacks Morasha asa thriving community school.

Page 3

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Achievements and performance (continued)

d. Factors relevant to achieve objectives

The relevant and appropriate experience of the charity's trustees, together with the professional support staff of the school and trust enabled the trust to achieve its charitable objectives during the year to 31 August 2023.

e. Fundraising activities and income generation

The company raised £929,377 in donations and legacies in the year to 31 August 2023 to provide infrastructure investment for the school, support the Jewish Studies curriculum at Sacks Morasha as well as to finance the major construction work undertaken in the period in order to extend the school building.

f. Investment policy and performance

Finchley Jewish Primary School Trust holds any surplus cash at any point in time in an interest-bearing deposit account with Lloyds Bank in order to generate returns to help fund charitable activities and to fund future capital projects.

The Trustees are satisfied that the trust can continue to meet all its financial obligations on an on-going basis.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

As of 31 August 2023, the trust had total funds of approximately £3.795m, including £69k of cash resources. Of the total funds, £3.795m were unrestricted funds.

c. Principal risks and uncertainties

The Trustees have assessed the major risks to which the Company is exposed, in particular those related to the operations and finances of the Company and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

d. Principal funding

During the year to 31 August 2023, the trust has raised donations from benefactors in order to meet the costs of providing charitable activities, including the provision of Jewish religious education to all children who attend the school as well as completing the final stage of building works for Sacks Morasha JPS.

Page 4

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Structure, governance and management

a. Constitution

The Company is registered as a charitable company limited by guarantee and was set up by a Memorandum and Articles of Association The Memorandum of Association was amended by a Written Resolution dated 21 November 2007, pursuant to s.288 of the Companies Act 2006. The Written Resolution was passed with the written consent of the Charity Commission.

b. Methods of appointment or election of Trustees

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

c. Organisational structure and decision-making policies

The Board currently comprises of five trustees. Trustees are appointed for three years with their third year of office terminating at the third Annual General Meeting following their commencement of office as a trustee.

The company is responsible for the school’s religious ethos and the provision of Jewish education at the school whilst the day to day management of the school is run by the trustees and professional leadership of the Jewish Community Academy Trust (‘JCAT’), together with the Sacks Morasha Governing Body, the Sacks Morasha Head Teacher and the Senior Leadership Team at the school

d. Policies adopted for the induction and training of Trustees

All trustees are inducted and up to date training is given

e. Pay policy for key management personnel

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

f. Related party relationships

Details of related parties are shown in the notes to the accounts.

g. Financial risk management

The trustees maintain a risk register which has assessed the major risks to which the trust is exposed. The trustees have introduced systems, including operational procedures and internal financial controls in order to minimise risk.

Plans for future periods

During the FY 2023-24 financial year, the trustees have continued to raise funds from donations and legacies to provide infrastructure investment for the school and support the Jewish Studies curriculum at Sacks Morasha

Funds held as custodian

There are no funds held as custodian trustee on behalf of others.

Page 5

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• ° select suitable accounting policies and then apply them consistently; e observe the methods and principles of the Charities SORP (FRS 102);

• e make judgments and accounting estimates that are reasonable and prudent;

• e state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that:

• e so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and

• e that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Auditors

The auditors, BKL Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

bitte Presale

Mr R Gershon Trustee

Date: 29/05/2024

Page 6

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF FINCHLEY JEWISH PRIMARY SCHOOL TRUST

Opinion

We have audited the financial statements of Finchley Jewish Primary School Trust (the ‘charitable company’) for the year ended 31 August 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• e give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;

• e have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• e 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 charitable company'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.

Page 7

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF FINCHLEY JEWISH PRIMARY SCHOOL

TRUST (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of 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:

• e the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or

• e sufficient accounting records have not been kept; or

• ° the financial statements are not in agreement with the accounting records and returns; or e we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF FINCHLEY JEWISH PRIMARY SCHOOL TRUST (CONTINUED)

Auditors’ responsibilities for the audit of the financial statements

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 an Auditors' report 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.

Ilrregularities, 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:

• e enquiring of management as to the Charitable Company’s policies and procedures to prevent and detect fraud as well as enquiring whether management have knowledge of any actual, suspected or alleged fraud;

• e reading minutes of meetings of those charged with governance; and

• e using analytical procedures to identify any unusual or unexpected relationships.

As required by auditing standards, we perform procedures to address the risk of management override of controls, in particular the risk that management may be in a position to make inappropriate accounting entries. On this audit we do not believe there is a fraud risk related to revenue recognition because the Charitable Company’s revenue streams are simple in nature with respect to accounting policy choice, and are easily verifiable to external data sources or agreements with little or no requirement for estimation from management. We did notidentify any additional fraud risks.

We performed procedures including

• e Identifying journal entries and other adjustments to test based on risk criteria and comparing any identified entries to supporting documentation; and

• e incorporating an element of unpredictability in our audit procedures

Page 9

FINCHLEY JEWISH PRIMARY SCHOOL TRUST

(A company limited by guarantee)

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF FINCHLEY JEWISH PRIMARY SCHOOL

TRUST (CONTINUED)

Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general sector experience and through discussion with management (as required by auditing standards), and discussed with management the policies and procedures regarding compliance with laws and regulations.

The Charitable Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

The Charitable Company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of litigation or impacts on the Company’s ability to operate. We identified company law as being the area most likely to have such an effect. Auditing standards limit the required audit procedures to identify noncompliance with these laws and regulations to enquiry of management and inspection of regulatory and legal correspondence, if any. Therefore if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Context of the ability of the audit to detect fraud or breaches of law or regulation

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as this may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company'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 charitable company'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 charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

BRL Audit LLY

BKL Audit LLP 35 Ballards Lane London N3 1XW

Date: 29/05/2024

Page 10

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023

		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		2023	2023	2023	2022
	Note	£	£	£	£
Income from:
Donations and legacies	3	792,665	141,362	934,027	1,228,713
Investments	4	422	-	422	274
Other income	5	58,173	-	58,173	75,568
Total income		851,260	141,362	992,622	1,304,555
Expenditure on:
Charitable activities	6	637,067	-	637,067	993,982
Total expenditure		637,067	-	637,067	993,982
Net income		214,193	141,362	355,555	310,573
Transfers between funds	15	542,402	(542,402)	-	-
Net movement in funds		756,595	(401,040)	355,555	310,573
Reconciliation of funds:
Total funds brought forward		3,039,040	401,040	3,440,080	3,129,507
Net movement in funds		756,595	(401,040)	355,555	310,573
Totalfundscarriedforward		3,795,635	-	3,795,635	3,440,080

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 29 form part of these financial statements.

Page 11

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee) REGISTERED NUMBER: 06319377

BALANCE SHEET AS AT 31 AUGUST 2023

				2023		2022
		Note		£		£
Fixed assets
Tangible assets		10		4,898,326		3,624,710
Current assets
Debtors		11	103,906		115,124
Cash at bank and in hand			68,881		569,494
			172,787		684,618
Creditors: amounts falling due within one
year		12	(681,006)		(436,896)
Net current liabilities	/ assets			(508,219)		247,722
Total assets less current liabilities				4,390,107		3,872,432
Creditors: amounts falling due after more
than one year		13		(594,472)		(432,352)
Total net assets				3,795,635		3,440,080
Charity funds
Restricted funds		15		-		401,040
Unrestricted funds		15		3,795,635		3,039,040
Totalfunds				3,795,635		3,440,080

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

Page 12

FINCHLEY JEWISH PRIMARY SCHOOL TRUST

(A company limited by guarantee) REGISTERED NUMBER: 06319377

BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2023

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

ies an fen ait

Mr R Gershon Trustee

Date: 29/05/2024

The notes on pages 15 to 29 form part of these financial statements.

Page 13

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2023|2022| |£|£| |Cash|flows|from|operating|activities| |Net|cash|used|in|operating|activities|810,103|304,528| |Cash|flows|from|investing|activities| |Purchase|of tangible|fixed|assets|(1,310,716)|(696, 142)| |Net|cash|used|in|investing|activities|(1,310,716)|(696,142)| |Change|in|cash|and|cash|equivalents|in|the|year|(500,613)|(391,614)| |Cash|and|cash|equivalents|at|the|beginning|of the|year|569,494|961,108| |Cash|and|cash|equivalents|at|the|end|of the|year|68,881|569,494| |The|notes|on|pages|15|to|29|form|part|of these|financial|statements|

----- End of picture text -----

Page 14

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. General information

The company is a Limited Company by Guarantee. The member of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £5 per member of the company. The company operates from 31 Stanhope Road, London N12 9DX.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Finchley Jewish Primary School Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.2 Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

The company has just completed a significant building project, which has in part been financed by loans, resulting in net current liabilities of £508,220 at the year end.

The trustees have considered their future expectations around income as well as the nature of the expenditure incurred by the Company, and have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Company's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Company, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Page 15

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

2. Accounting policies (continued)

2.3 Income (continued)

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold property	- Nil
Improvements to Property	- 3 and 5 years - newer items over 3 years
Office equipment	- 4 years
Otherfixedassets	-straightlineover50years

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Page 16

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

2. Accounting policies (continued)

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 17

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

3. Income from donations and legacies

	Unrestricted	Restricted	Total
	funds	funds	funds
	2023	2023	2023
	£	£	£
Donations	788,015	141,362	929,377
Similar incoming resources	4,650	-	4,650
	792,665	141,362	934,027
	As restated	Asrestated	As restated
	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
	£	£	£
Donations	910,736	310,127	1,220,863
Similar incoming resources	7,850	-	7,850
	918,586	310,127	1,228,713

4. Investment income

		Unrestricted	Total
		funds	funds
		2023	2023
		£	£
Interest	income	422	422
		Unrestricted	Total
		funds	funds
		2022	2022
		£	£
Interest	income	2/4	2/4

Page 18

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

5. Other incoming resources

	Unrestricted	Total
	funds	funds
	2023	2023
	£	£
Miscellaneous income	10,764	10,764
Security recharge	47,409	47,409
	58,173	58,173
	Unrestricted	Total
	funds	funds
	2022	2022
	£	£
Miscellaneous income	5,232	5,232
Security recharge	70,336	70,336
	75,568	75,568

6. Analysis of expenditure on charitable activities

Summary by fund type

							Unrestricted
							funds	Total
							2023	2023
							£	£
Supporting	Sacks	Morasha	Jewish	Primary	School		637,067	637,067
						As restated	As restated
						Unrestricted	Restricted	As restated
						funds	funds	Total
						2022	2022	2022
						£	£	£
Supporting	Sacks	Morasha	Jewish	Primary	School	971,948	22,034	993,982

Page 19

FINCHLEY JEWISH PRIMARY SCHOOL TRUST

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

7. Analysis of expenditure by activities

Supporting Sacks Morasha Jewish Primary School

Activities
undertaken	Support	Total
directly	costs	funds
2023	2023	2023
£	£	£
612,788	24,280	637,068

Supporting Sacks Morasha Jewish Primary School

As restated
Activities	Asrestated	As restated
undertaken	Support	Total
directly	costs	funds
2022	2022	2022
£	£	£
975,467	18,515	993,982

Analysis of direct costs

	Supporting
	Sacks
	Morasha
	Jewish
	Primary	Total
	School	funds
	2023	2023
	£	£
Depreciation	37,100	37,100
Printing and postage	1,109	1,109
Security	47,367	47,367
Establishment expenses	39,804	39,804
Repairs and maintenance	9,521	9,521
Teaching resources, books and materials	5,758	5,758
Advertising, staffing and recruitment	2,823	2,823
Insurance	10,738	10,738
Travel expenses	1,750	1,750
Charitable donations to JCAT	545	545
Payments towards school wages and salaries costs	414,187	414,187
Sundry charges	3,115	3,115
Bank charges	38,971	38,971
	612,788	612,788

Page 20

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

7. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

	As restated
	Supporting
	Sacks
	Morasha
	Jewish	As restated
	Primary	Total
	School	funds
	2022	2022
	£	£
Depreciation	59,065	59,065
Printing and postage	2,793	2,793
Security	75,238	75,238
Establishment expenses	48,176	48,176
Repairs and maintenance	23,635	23,635
Teaching resources, books and materials	13,735	13,735
Advertising, staffing and recruitment	4,292	4,292
Insurance	12,828	12,828
Other educational charges	4,342	4,342
Travel expenses	5,697	5,697
Professional fees	2,184	2,184
Bad debts	19,639	19,639
Payment towards school wages and salary costs	630, 868	630,868
Sundry charges	52,864	52,864
Telephone, IT and other office costs	2,310	2,310
Bank charges	17,801	17,801
	975,467	975,467

Page 21

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Governance costs

Supporting Sacks Morasha Jewish Primary Total School funds 2023 2023 £ £ 24,280 24,280

Governance costs were comprised of the audit fee as well as other accountancy services rendered.

Governance costs

As restated
Supporting
Sacks
Morasha
Jewish	As restated
Primary	Total
School	funds
2022	2022
£	£
18,515	18,515

Governance costs were comprised of the audit fee as well as other accountancy services rendered.

8. Auditors’ remuneration

		As restated
	2023	2022
	£	£
Fees payable to the Company's auditor for the audit ofthe Company's
annual accounts	9,363	5,760
Fees payable to the Company's auditor in respect of:
Allnon-auditservicesnotincludedabove	14,917	12,755

9. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 August 2023, expenses totalling £13 were reimbursed or paid directly to 1 Trustee (2022 - ENIL). This pertained to the reimbursement of a payment to Companies House.

Page 22

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

10. Tangible fixed assets

			Improve
			ments to
		Freehold	property	Office	Other fixed
		property	Asrestated	equipment	assets	Total
		£	£	£	£	£
Cost or valuation
At	1 September2022	1,813,991	2,366,724	112,998	8,560	4,302,273
Additions		-	1,310,716	-	-	1,310,716
At	31 August 2023	1,813,991	3,677,440	112,998	8,560	5,612,989
Depreciation
At	1 September2022	418	562,149	112,998	1,998	677,563
Charge for the year		-	36,672	-	428	37,100
At	31 August 2023	418	598,821	112,998	2,426	714,663
Net book value
At	31 August 2023	1,813,573	3,078,619	-	6,134	4,898,326
At	31August2022	1,813,573	1,804,575	-	6,562	3,624,710

1. Debtors

		As restated
	2023	2022
	£	£
Due within one year
Other debtors	97,590	106,676
Prepayments and accrued income	6,316	8,448
	103,906	115,124

Page 23

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

12. Creditors: Amounts falling due within one year

		As restated
	2023	2022
	£	£
Bank loans	89,645	52,713
Trade creditors	186,574	107,415
Other creditors	384,718	183,572
Accruals and deferred income	20,069	93,196
	681,006	436,896

The bank loans are secured on the freehold property and due to be repaid in instalments to February and July 2031. Interest on the loans is calculated at 2% and 2.5% above base rate.

The bank loans are secured on the freehold property.

13. Creditors: Amounts falling due after more than one year

		2023	2022
		£	£
Bank	loans	588,472	421,702
Other	creditors	6,000	10,650
		594,472	432,352

14.

Prior year adjustments

Several prior year adjustments have been made within the accounts and they have been enumerated below:

£194,079 worth of donations to JCAT have now been capitalised rather than expensed.

£17,732 worth of interest was incorrectly deducted against the total value of a bank loan. This has now been expensed within the accounts.

£1,550 of a deposit made by the charity was incorrectly expensed. This has now been reallocated to prepayments.

£3,750 of income from a surrendered deposit was omitted in the prior year accounts. This has now been included as income.

Various expenses recharged to the school are now shown gross, with the corresponding income recognised in other incoming resources (note 5).

An additional £5,600 has been reanalysed to governance costs.

Page 24

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

15. Statement of funds

Statement of funds - current year

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Balance|at|1|Balance|at| |September|Transfers|31|August| |2022|Income|Expenditure|in/out|2023| |£|£|£|£|£| |Unrestricted|funds| |Designated|funds| |Designated|Funds-|all|funds|125,000|-|-|-|125,000| |General|funds| |General|Funds-|all|funds|2,914,040|851,260|(637,067)|542,402|3,670,635| |Total|Unrestricted|funds|3,039,040|851,260|(637,067)|542,402|3,795,635| |Restricted|funds| |Restricted|Funds-|all|funds|401,040|141,362|-|(542,402)|-| |Total|of funds|3,440,080|992,622|(637,067)|-|3,795,635|

----- End of picture text -----

Restricted funds relate entirely to donations received as part of the charity's matched funding campaign that took place in July 2022. This campaign has facilitated the charity's recent capital expenditure on the school buildings as represented by the transfer to unrestricted funds.

Page 25

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

15. Statement of funds (continued)

Statement of funds - prior year

----- Start of picture text -----
Balance at
Balance at Asrestated As restated 31 August
1 April 2021 Income Expenditure 2022
£ £ £ £
Unrestricted funds
Designated funds
Designated Funds- all funds 125,000 - - 125,000
General funds
Reserves 2,891,560 923,098 (900,618) 2,914,040
Total Unrestricted funds 3,016,560 923,098 (900,618) 3,039,040
Restricted funds
Restricted Funds - all funds 112,947 310,127 (22,034) 401,040
Total of funds 3,129,507 1,233,225 (922,652) 3,440,080
Summary of funds funds
Summary of funds - current year
Balance at 1 Balance at
September Transfers 31 August
2022 Income Expenditure in/out 2023
£ £ £ £ £
Designated funds 125,000 - - - 125,000
General funds 2,914,040 851,260 (637,067) 542,402 3,670,635
Restricted funds 401,040 141,362 - (542,402) -
3,440,080 992,622 (637,067) - 3,795,635
----- End of picture text -----

16. Summary of funds funds

Page 26

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

16. Summary of funds (continued)

Summary of funds - prior year

				Balance at
	Balance at	Asrestated	As restated	31 August
	1 April 2021	Income	Expenditure	2022
	£	£	£	£
Designated funds	125,000	-	-	125,000
General funds	2,891,560	923,098	(900,618)	2,914,040
Restricted funds	112,947	310,127	(22,034)	401,040
	3,129,507	1,233,225	(922,652)	3,440,080

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

		Unrestricted	Total
		funds	funds
		2023	2023
		£	£
Tangible fixed assets		4,898 326	4,898,326
Current assets		172,787	172,787
Creditors due within one year		(681,006)	(681,006)
Creditors due in more than one year		(594,472)	(594,472)
Total		3,795,635	3,795,635
Analysis of net assets between funds - prior year
	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2022	2022
	£	£	£
Tangible fixed assets	3,223,670	401,040	3,624,710
Current assets	684,618	-	684,618
Creditors due within one year	(436,896)	-	(436,896)
Creditors due in more than one year	(432,352)	-	(432,352)
Total	3,039,040	401,040	3,440,080

Analysis of net assets between funds - prior year

Page 27

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

18. Reconciliation of net movement in funds to net cash flow from operating activities

		As restated
	2023	2022
	£	£
Net income for the year (as per Statement of Financial Activities)	355,555	310,573
Adjustments for:
Depreciation charges	37,100	59,065
Decrease in debtors	11,218	77,940
Increase/(decrease) in creditors	406,230	(143,050)
Netcashprovidedbyoperatingactivities	810,103	304,528

19. Analysis of cash and cash equivalents

		2023	2022
		£	£
Cash	in hand	68,881	569,494
Total	cashandcashequivalents	68,881	569,494

20. Analysis of changes in net debt

		At 1
		September		At 31
		2022	Cash flows	August 2023
		£	£	£
Cash	at bank and in hand	569,494	(500,613)	68,881
Debt	due within 1 year	(52,713)	(36,932)	(89,645)
Debt	due after 1 year	(421,702)	(166,770)	(588,472)
		95,079	(704,315)	(609,236)

Page 28

FINCHLEY JEWISH PRIMARY SCHOOL TRUST (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

21. Related party transactions

The Charity entered into various related party transactions within the year and these have been enumerated below:

Michael Levi Weinstein is a Trustee of the charity and both he and his wife were owed £227,000 by the charity as of the year-end.

Robert Bradley Gershon is a Trustee of FIPST and was owed £48,005 by FJPST as of the year-end.

Gillian Elaine Marks is a Trustee of both FJPST and the Mutley Foundation. The Mutley Foundation donated £51,300 to FUPST within the year.

During the year, unrestricted donations of £49,000 were made by the trustees to FJPST.

Page 29