**REGISTERED CHARITY NUMBER: 1127513** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 August 2021** ## **for** ## **Be'er Miriam Trust** Martin+Heller 5 North End Road London NW11 7RJ **Be'er Miriam Trust** **Contents of the Financial Statements for the Year Ended 31 August 2021** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Cash Flow Statement**||7|| |**Notes to the Cash Flow Statement**||8|| |**Notes to the Financial Statements**|9|to|13| |**Detailed Statement of Financial Activities**||14|| **Be'er Miriam Trust** **Report of the Trustees for the Year Ended 31 August 2021** The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. 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** Our primary aim has always been to provide a comprehensive educational programme for 16 - 18 year olds. We provide a full teacher training programme alongside advanced in-depth Jewish Studies. In addition, we offer a choice of A level subjects and vocational courses. Students enjoy a well-balanced curriculum which combines intensive study, hands-on classes (e.g floristry, silk painting, hairdressing and more) and timeout slots. All these elements prepare our students for the world of work with commitment and enhanced job opportunities. Most of our students graduate to become teachers with others filling posts in educational, social and office settings. This reflects the excellent educational standard of the seminary and strong motivation of our student body. The dedicated and hard-working staff faculty led by a committed and dynamic principal underpin this establishment. ## **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. Page 1 **Be'er Miriam Trust** **Report of the Trustees for the Year Ended 31 August 2021** ## **ACHIEVEMENT AND PERFORMANCE** ## **Our impact** Be'er Miriam continues to secure a sound reputation for its educational achievement professionalism, integrity and vision. It is the seminary of choice for seriously motivated and academic students. The seminary continues to struggle in its challenge to keep up with ever increasing demand. The seminary offers a robust Kodesh curriculum much of which is accredited as Level 3 (Diploma in Torah Study and Certificate/diploma in Jewish study) A cross-curricular approach is taken in commemorating our heritage. Events in Jewish history and historical achievements are celebrated in an experiential way. Student research is presented to schools in the community in the form of an exhibition enabling hands on learning and fostering pride in their cultural heritage. Regular speakers and events are planned for days commemorating historical events including workshops and practical activities with a focus on learning from the past and appreciating our heritage. The seminary offers a full repertoire of academic and vocational courses. Ranges include a plethora of level studies, computing skills, finance courses and teachers training. We have recently added a Kriah course - based on the Toras Picha method from Rabbi Dovid Unger. The course enables students to get a grounding and understanding in the challenges children face when struggling with reading. They are introduced to a unique approach and gain skills to work with these children. In addition to foundational IT skills, advanced Microsoft and basic and advanced graphics courses web design has been introduced. This introduces a new niche for girls in a profession which has been dominated by male technicians to date. Our graduates have proceeded to do excellent IT/graphics work in various businesses and organisations in the community. AAL level 3, and level 4 are both popular subjects. Quickbooks and SAGE are both taught to produce more work ready candidates. All students have completed all 5 units of the Level 3 in Torah studies and performance has been excellent. This qualification earns credits which can be used towards a degree. Our Teacher Training courses combine advanced teaching methods and educational psychology with classroom observations and mentored support. Subject specialists deliver cutting edge INSETS and we use consultants to enhance the teacher training programme. This comprehensive package offers a robust training which is renowned and trainees are sought after. All of last year's trainees landed up jobs and feedback from their employers and schools have been consistently positive. Extra-curricular programmes and events provide a forum for talent, creativity and student enrichment opportunities. Students create musical events such as, orchestras, choirs and other integrated talent shows. Some of these events are open to mothers and/or alumni apart from those arranged especially for them. The seminary has opportunities for continued support for postgraduates. Some graduates access this as new teachers who refer to their trainer for support with strategies. Graduates, who become eligible to continue their AAT Level 4 training, also turn to the seminary for examinations support. Staff retention is good and quality of teaching and learning is monitored closely. New teachers are recruited regularly to broaden learning opportunities and refresh teaching approaches. Staff job satisfaction and expertise are strengths in our drive for excellence, which also enables us to offer sufficient challenge to our gifted and talented students. In conjunction with New City College, we just passed an Ofstead inspection. Results were GOOD. This was a review on all local seminaries affiliated with NCC as franchises. The results as well are collective of all seminaries. ## **FINANCIAL REVIEW** We are pleased to report a substantial surplus this financial year. This is a positive trend being the 4th consecutive year with a surplus. This reflects our meticulous approach whilst managing the finances. We are grateful to the staff and the management team for making creative, economical decisions. Page 2 **Be'er Miriam Trust** **Report of the Trustees for the Year Ended 31 August 2021** ## **FUTURE PLANS** The seminary wishes to open a specialist reference library which will carry a comprehensive selection of books to support the research carried out by students. This is to include a variety of books compiled from the EPQ research dissertations that our students create. The seminary is continuing development work to create a bespoke teaching degree with a slant for the gifted and more challenged student. The seminary is currently working on setting up a route for the students not wishing to pursue teachers training as a career. The course would offer special education with at slant toward Kriah and reading. This would be an enhanced version of the kriah course we are currently piloting with additional resources and training to create a more comprehensive and robust program. We are also developing an alumni scheme where there would be more interactive learning programs with current and graduated seminary students. The committee is working on a strategic plan for the longer term to erect a purpose-built facility or refurbish suitable premises in the future. Plans include setting up a building committee and launching a fundraising campaign to raise the necessary capital. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, deed of trust dated 15 July 2008. ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1127513 ## **Principal address** Yesodey Hatorah School 8 Egerton Road London N16 6UA ## **Trustees** S B Stroh (resigned 15.11.21) E Weiss Rabbi C Pinter Mrs S Weiss (appointed 15.11.21) ## **Independent Examiner** Martin+Heller 5 North End Road London NW11 7RJ Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ Trustee Page 3 **Independent Examiner's Report to the Trustees of Be'er Miriam Trust** ## **Independent examiner's report to the trustees of Be'er Miriam Trust** I report to the charity trustees on my examination of the accounts of Be'er Miriam Trust (the Trust) for the year ended 31 August 2021. ## **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 ICEAW which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr F Martin FCA ICEAW Martin+Heller 5 North End Road London NW11 7RJ Date: ............................................. Page 4 **Be'er Miriam Trust** ## **Statement of Financial Activities for the Year Ended 31 August 2021** |31.8.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
373,933
Other trading activities
3
260,156
Other income
14,996
**Total**
649,085
**EXPENDITURE ON**
**Charitable activities**
4
Educational costs
611,019
Governance costs
2,027
**Total**
613,046
**NET INCOME**
36,039
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
219,379
**TOTAL FUNDS CARRIED FORWARD**
255,418|31.8.20
Total
funds
£
344,647
204,629
14,192| |---|---| ||563,468
502,869
2,967| ||505,836| ||57,632
161,747| ||219,379| The notes form part of these financial statements Page 5 **Be'er Miriam Trust** ## **Balance Sheet 31 August 2021** |31.8.21
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
10
159,761
Cash at bank
96,857
256,618
**CREDITORS**
Amounts falling due within one year
11
(1,200)
**NET CURRENT ASSETS**
255,418
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
255,418
**NET ASSETS**
255,418
**FUNDS**
12
Unrestricted funds
255,418
**TOTAL FUNDS**
255,418|31.8.20
Total
funds
£
157,258
64,521
221,779
(2,400)
219,379
219,379
219,379
219,379
219,379| |---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. Trustee The notes form part of these financial statements Page 6 **Be'er Miriam Trust** ## **Cash Flow Statement** ## **for the Year Ended 31 August 2021** |||31.8.21|31.8.20| |---|---|---|---| ||Notes|£|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|32,336|38,558| |Net cash provided by operating activities||32,336|38,558| ||||| |**Change in cash and cash equivalents in**|||| |**the reporting period**||32,336|38,558| |**Cash and cash equivalents at the**|||| |**beginning of the reporting period**||64,521|25,963| |**Cash and cash equivalents at the end of**|||| |**the reporting period**||96,857|64,521| The notes form part of these financial statements Page 7 **Be'er Miriam Trust** **Notes to the Cash Flow Statement for the Year Ended 31 August 2021** ## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** ||31.8.21|31.8.20| |---|---|---| ||£|£| |**Net income for the reporting period (as per the Statement of Financial**||| |**Activities)**|36,039|57,632| |**Adjustments for:**||| |Increase in debtors|(2,503)|(20,274)| |(Decrease)/increase in creditors|(1,200)|1,200| |**Net cash provided by operations**|32,336|38,558| ## 2. **ANALYSIS OF CHANGES IN NET FUNDS** |At 1/9/20
Cash flow
At
£
£
**Net cash**
Cash at bank
64,521
32,336
64,521
32,336
**Total**
64,521
32,336|31/8/21
£
96,857| |---|---| ||96,857| ||96,857| The notes form part of these financial statements Page 8 **Be'er Miriam Trust** **Notes to the Financial Statements for the Year Ended 31 August 2021** ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |Fixtures and fittings|- 25% on cost| |---|---| |Computer equipment|- 25% on cost| ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **2. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| |Donations
Grants|31.8.21
£
93,048
280,885
373,933|31.8.20
£
60,935
283,712| |||344,647| continued... Page 9 **Be'er Miriam Trust** **Notes to the Financial Statements - continued for the Year Ended 31 August 2021** ## **3. OTHER TRADING ACTIVITIES** |Fees received
**4.**
**CHARITABLE ACTIVITIES COSTS**
Educational costs
Governance costs
**5.**
**SUPPORT COSTS**
Educational costs
Governance costs|31.8.21
31.8.20
£
£
260,156
204,629
Support
costs (see
note 5)
£
611,019
2,027
613,046
Management
£
611,019
2,027
613,046| |---|---| ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020. ## **7. STAFF COSTS** |Wages and salaries
The average monthly number of employees during the year was as follows:|31.8.21
£
248,534
248,534
31.8.21|31.8.20
£
227,960| |---|---|---| |||227,960| |||31.8.20| No employees received emoluments in excess of £60,000. continued... Page 10 **Be'er Miriam Trust** **Notes to the Financial Statements - continued for the Year Ended 31 August 2021** ## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |||||Unrestricted| |---|---|---|---|---| |||||fund| |||||£| ||**INCOME AND ENDOWMENTS FROM**|||| ||Donations and legacies|||344,647| ||Other trading activities|||204,629| ||Other income|||14,192| ||**Total**|||563,468| ||**EXPENDITURE ON**|||| ||**Charitable activities**|||| ||Educational costs|||502,869| ||Governance costs|||2,967| ||**Total**|||505,836| ||**NET INCOME**|||57,632| ||**RECONCILIATION OF FUNDS**|||| ||**Total funds brought forward**|||161,747| ||**TOTAL FUNDS CARRIED FORWARD**|||219,379| |**9.**|**TANGIBLE FIXED ASSETS**|||| |||Fixtures||| |||and|Computer|| |||fittings|equipment|Totals| |||£|£|£| ||**COST**|||| ||At 1 September 2020 and 31 August 2021|9,504|4,876|14,380| ||**DEPRECIATION**|||| ||At 1 September 2020 and 31 August 2021|9,504|4,876|14,380| ||**NET BOOK VALUE**|||| ||At 31 August 2021|-|-|-| ||At 31 August 2020|-|-|-| continued... Page 11 **Be'er Miriam Trust** **Notes to the Financial Statements - continued for the Year Ended 31 August 2021** ## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Other debtors
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**12.**
**MOVEMENT IN FUNDS**
At 1/9/20
£
**Unrestricted funds**
General fund
219,379
**TOTAL FUNDS**
219,379
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
649,085
**TOTAL FUNDS**
649,085
**Comparatives for movement in funds**
At 1/9/19
£
**Unrestricted funds**
General fund
161,747
**TOTAL FUNDS**
161,747|31.8.21
31.8.20
£
£
159,761
157,258
31.8.21
31.8.20
£
£
1,200
2,400
Net
movement
At
in funds
31/8/21
£
£
36,039
255,418
36,039
255,418
Resources
Movement
expended
in funds
£
£
(613,046)
36,039
(613,046)
36,039
Net
movement
At
in funds
31/8/20
£
£
57,632
219,379
57,632
219,379| |---|---| continued... Page 12 **Be'er Miriam Trust** **Notes to the Financial Statements - continued for the Year Ended 31 August 2021** ## **12. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
563,468
563,468|Resources
Movement
expended
in funds
£
£
(505,836)
57,632
(505,836)
57,632|Resources
Movement
expended
in funds
£
£
(505,836)
57,632
(505,836)
57,632| |---|---|---|---| ||||57,632| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/9/19
£
161,747
161,747|Net
movement
in funds
£
93,671
93,671|At
31/8/21
£
255,418| |---|---|---|---| ||||255,418| 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|1,212,553|(1,118,882 )|93,671| ||**TOTAL FUNDS**|1,212,553|(1,118,882 )|93,671| |**13.**|**RELATED PARTY DISCLOSURES**|||| There were no related party transactions for the year ended 31 August 2021. Page 13 **Be'er Miriam Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2021** ||31.8.21|31.8.20| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|93,048|60,935| |Grants|280,885|283,712| ||373,933|344,647| |**Other trading activities**||| |Fees received|260,156|204,629| |**Other income**||| |Furlough receipts|14,996|14,192| |**Total incoming resources**|649,085|563,468| |**EXPENDITURE**||| |**Support costs**||| |**Management**||| |Wages|248,534|227,960| |Telephone|558|866| |Postage and stationery|22,640|22,773| |Advertising|-|950| |Administration expenses|5,191|2,577| |Computer and IT expenses|18,204|15,605| |Maintenance expenses|41,428|12,622| |Courses and training expenses|131,290|116,796| |Travel|9,063|10,532| |Tutoring|134,111|92,188| |Legal and professional fees|186|1,020| |Accountancy|1,200|1,200| |Bank charges|641|747| ||613,046|505,836| |Total resources expended|613,046|505,836| |**Net income**|36,039|57,632| This page does not form part of the statutory financial statements Page 14