REGISTERED CHARITY NUMBER: 1127513
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2023
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 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 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 |
| Detailed Statement of Financial Activities | 15 |
Be'er Miriam Trust
Report of the Trustees for the Year Ended 31 August 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. 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.
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Be'er Miriam Trust
Report of the Trustees for the Year Ended 31 August 2023
ACHIEVEMENT AND PERFORMANCE Our impact
Be'er Miriam Seminary's ongoing reputation for educational achievement professionalism, integrity and vision stands. It continues to be the seminary of choice for seriously motivated and academic students.
The seminary's robust Kodesh curriculum, mostly accredited as Level 3 (Diploma in Torah Study and Certificate/diploma in Jewish study) is used as a model at other institutions. A cross-curricular approach is taken in honouring our heritage where events in Jewish history and/or historical achievements are celebrated in an experiential manner. Speakers and events are planned for these days including workshops and practical activities with a focus on learning from the past and appreciating our heritage. Information derived from student research are presented to schools in the community in the form of an exhibition enabling hands-on learning and fostering pride in one's cultural heritage.
On the vocational side, the seminary offers a full repertoire of academic and vocational courses. Routes include a plethora of level studies, computing skills, finance courses and teachers training. The Kriah course, recently added, has now been completely established. Over the past three years different methods for kriah have been explored theoretically and experientially and combined to create a sound curriculum tailor made to the struggling students in this community. In addition, the skills to work with struggling children and how to reach and engage them has been fully developed. The feedback from schools employing our trainees has been phenomenal and SEN departments have been reaching out to offer them employment.
The dyslexia course accredited by the BDA was successful as a foundation, however we are now embarking on a journey to work it through theoretically, experientially, and with the input of SEN departments similar to the kriah course so that trainees can emerge fully ready to handle even the most challenging children. Upon completion, students will have a gull portfolio which they will be able to cash following ample work experience to receive a level 6 degree. We are currently setting out to pilot this course with a group of 10 students.
In addition to foundational IT skills, advanced Microsoft and basic and advanced graphics courses and web design are all offered. Our graduates have progressed to do excellent IT/graphics work in various businesses and organisations in the community. To keep up with the latest graphic trends we have added a digital art course for a group of students interested in taking this area further as a career, furthermore we are looking to introduce Adobe Premier - video editing as another IT option.
AAT level 3, and level 4 are both popular subjects. QuickBooks and SAGE are both offered to produce more work ready candidates.
Hairdressing and culinary courses alongside art and leisure options are available for those who prefer more practical hands- on, talent building and recreational options.
All students have completed all 5 units of the Level 3 in Torah studies and performance has been excellent. The ATHE (accreditation board) has awarded us their 'High Performing Status' in recognition for consistent high performance and achievement. 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. Once again all of last year's trainees landed up jobs earning the course an impressive 100% employability rate. Feedback from employers and schools have been consistently positive.
Extra-curricular programmes and events provide a forum for talent, creativity and student enrichment opportunities. Students take pride in musical events such as, orchestras, choirs and other integrated talent shows. These events vary from in house to inviting staff, mothers, alumni and/or the wider public as audience.
The seminary has opportunities for continued support for postgraduates. As new teachers graduates can refer back 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.
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Be'er Miriam Trust
Report of the Trustees for the Year Ended 31 August 2023
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.
FINANCIAL REVIEW
Although we have benefitted for a steady surplus over the past 5 years and plan to continue this trend, due to higher inflation rates affecting costs of food, transport and other basic services as well as heavy investment in the curriculum building of kriah course have contributed to the shortfall.
As per the trustees' plan the shortfall will be covered by some of the previous surplus. A significant grant supporting the course development is expected to come through shortly along with alumni course payment pushing us ahead with a surplus once again.
We are grateful to the staff and the management team for their work ethic, creative approach and strive for excellence.
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. We are struggling with space and are looking to expand to accommodate this.
The seminary is currently working on setting up more routes for students not wishing to pursue teachers training as a career.
We are also developing an alumni scheme where there would be more interactive learning programs with current and graduated seminary students. Following the resounding success of our now fully established Kriah course the seminary will be offering the course to graduates next year.
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
E Weiss Rabbi C Pinter Mrs S Weiss
Independent Examiner
Martin+Heller 5 North End Road London NW11 7RJ
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Be'er Miriam Trust
Report of the Trustees for the Year Ended 31 August 2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Trustee
Page 4
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 2023.
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 member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr F Martin FCA
Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
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Be'er Miriam Trust
Statement of Financial Activities for the Year Ended 31 August 2023
| 31.8.23 | 31.8.22 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 2 | 384,884 | 416,271 |
| Other trading activities | 3 | 191,471 | 230,836 |
| Other income | - | 742 | |
| Total | 576,355 | 647,849 | |
| EXPENDITURE ON | |||
| Charitable activities | 4 | ||
| Educational costs | 592,891 | 568,238 | |
| Governance costs | 4,245 | 2,718 | |
| Total | 597,136 | 570,956 | |
| NET INCOME/(EXPENDITURE) | (20,781) | 76,893 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 332,311 | 255,418 | |
| TOTAL FUNDS CARRIED FORWARD | 311,530 | 332,311 |
The notes form part of these financial statements
Page 6
Be'er Miriam Trust
Balance Sheet 31 August 2023
| 31.8.23 | 31.8.22 | ||
|---|---|---|---|
| Unrestricted | |||
| fund | Total funds | ||
| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 10 | 75,058 | 74,812 |
| Cash at bank | 238,872 | 258,699 | |
| 313,930 | 333,511 | ||
| CREDITORS | |||
| Amounts falling due within one year | 11 | (2,400) | (1,200) |
| NET CURRENT ASSETS | 311,530 | 332,311 | |
| TOTAL ASSETS LESS CURRENT | |||
| LIABILITIES | 311,530 | 332,311 | |
| NET ASSETS | 311,530 | 332,311 | |
| FUNDS | 12 | ||
| Unrestricted funds | 311,530 | 332,311 | |
| TOTAL FUNDS | 311,530 | 332,311 |
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 7
Be'er Miriam Trust
Cash Flow Statement for the Year Ended 31 August 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
31.8.23 £ (19,827) (19,827) (19,827) 258,699 238,872 |
31.8.22 £ 161,842 |
|---|---|---|
| 161,842 | ||
| 161,842 96,857 |
||
| 258,699 |
The notes form part of these financial statements
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Be'er Miriam Trust
Notes to the Cash Flow Statement for the Year Ended 31 August 2023
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| OPERATING ACTIVITIES | ||
|---|---|---|
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: (Increase)/decrease in debtors Increase in creditors Net cash (used in)/provided by operations |
31.8.23 £ (20,781) (246) 1,200 (19,827) |
31.8.22 £ 76,893 84,949 - |
| 161,842 |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1/9/22 | Cash flow | At 31/8/23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 258,699 | (19,827) | 238,872 |
| 258,699 | (19,827) | 238,872 | |
| Total | 258,699 | (19,827) | 238,872 |
The notes form part of these financial statements
Page 9
Be'er Miriam Trust
Notes to the Financial Statements for the Year Ended 31 August 2023
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 |
31.8.23 £ 95,511 289,373 384,884 |
31.8.22 £ 113,898 302,373 |
| 416,271 |
continued...
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Be'er Miriam Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
3. OTHER TRADING ACTIVITIES
| Fees received 4. CHARITABLE ACTIVITIES COSTS Educational costs Governance costs 5. SUPPORT COSTS Educational costs Governance costs |
31.8.23 31.8.22 £ £ 191,471 230,836 Support costs (see note 5) £ 592,891 4,245 597,136 Management £ 592,891 4,245 597,136 |
31.8.22 £ 230,836 |
|---|---|---|
| 597,136 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
7. STAFF COSTS
| Wages and salaries The average monthly number of employees during the year was as follows: Teachers and administration staffs |
31.8.23 £ 234,022 234,022 31.8.23 52 |
31.8.22 £ 229,805 |
|---|---|---|
| 229,805 | ||
| 31.8.22 52 |
No employees received emoluments in excess of £60,000.
continued...
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Be'er Miriam Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | ||||
|---|---|---|---|---|
| fund | ||||
| £ | ||||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies | 416,271 | |||
| Other trading activities | 230,836 | |||
| Other income | 742 | |||
| Total | 647,849 | |||
| EXPENDITURE ON | ||||
| Charitable activities | ||||
| Educational costs | 568,238 | |||
| Governance costs | 2,718 | |||
| Total | 570,956 | |||
| NET INCOME | 76,893 | |||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 255,418 | |||
| TOTAL FUNDS CARRIED FORWARD | 332,311 | |||
| 9. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 September 2022 and 31 August 2023 | 9,504 | 4,876 | 14,380 | |
| DEPRECIATION | ||||
| At 1 September 2022 and 31 August 2023 | 9,504 | 4,876 | 14,380 | |
| NET BOOK VALUE | ||||
| At 31 August 2023 | - | - | - | |
| At 31 August 2022 | - | - | - |
continued...
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Be'er Miriam Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 31.8.23 | 31.8.22 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Other debtors | 75,058 | 74,812 | |||
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 31.8.23 | 31.8.22 | ||||
| £ | £ | ||||
| Other creditors | 2,400 | 1,200 | |||
| 12. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | |||||
| At | 1/9/22 | in funds | At 31/8/23 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 332,311 | (20,781) | 311,530 | ||
| TOTAL FUNDS | 332,311 | (20,781) | 311,530 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 576,355 | (597,136) | (20,781) | ||
| TOTAL FUNDS | 576,355 | (597,136) | (20,781) | ||
| Comparatives for movement in funds | |||||
| Net | |||||
| movement | |||||
| At | 1/9/21 | in funds | At 31/8/22 | ||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 255,418 | 76,893 | 332,311 | ||
| TOTAL FUNDS | 255,418 | 76,893 | 332,311 |
continued...
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Be'er Miriam Trust
Notes to the Financial Statements - continued for the Year Ended 31 August 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 647,849 | (570,956) | 76,893 |
| TOTAL FUNDS | 647,849 | (570,956) | 76,893 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | |||
| At 1/9/21 | in funds | At 31/8/23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 255,418 | 56,112 | 311,530 |
| TOTAL FUNDS | 255,418 | 56,112 | 311,530 |
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 | 1,224,204 | (1,168,092 ) | 56,112 |
| TOTAL FUNDS | 1,224,204 | (1,168,092 ) | 56,112 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2023.
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Be'er Miriam Trust
Detailed Statement of Financial Activities for the Year Ended 31 August 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants Other trading activities Fees received Other income Furlough receipts Total incoming resources EXPENDITURE Support costs Management Wages Telephone Postage and stationery Administration expenses Computer and IT expenses Maintenance expenses Courses and training expenses Travel Tutoring Legal and professional fees Accountancy Bank charges Total resources expended Net (expenditure)/income |
31.8.23 £ 95,511 289,373 384,884 191,471 - 576,355 234,022 538 33,603 704 15,583 43,831 156,895 16,367 91,348 790 1,200 2,255 597,136 597,136 (20,781) |
31.8.22 £ 113,898 302,373 |
|---|---|---|
| 416,271 230,836 742 |
||
| 647,849 229,805 469 21,599 616 17,688 23,139 163,511 15,552 95,859 206 1,200 1,312 |
||
| 570,956 | ||
| 570,956 | ||
| 76,893 |
This page does not form part of the statutory financial statements
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