OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The London School Of Jewish Studies

2025-07-31-accounts

Charity registration number 1131850 (England and Wales)

Company registration number 06997994

THE LONDON SCHOOL OF JEWISH STUDIES ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

THE LONDON SCHOOL OF JEWISH STUDIES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees B Benjamin, Chair
N Cohen (Appointed 27 March 2025)
S Gamsu
H Goldstein
S Noe
S Nyman, Treasurer
G Phillips
M Rothem
J Winston (Appointed 29 May 2025)
E Conway
Charity number (England and Wales) 1131850
Company number 06997994
Registered office Schaller House
The Wohl Campus For Jewish Education
Schaller House
London
NW42SJ
Auditor Goldwins Limited
75 Maygrove Road
West Hampstead
London
NW62EG
Bankers National Westminster Bank Pie
95 Church Road
London
NW44DL
President The Chief Rabbi, Sir Ephraim Mirvis
Deputy President Rabbi Joseph Dweck
Website www.lsjs.ac.uk

THE LONDON SCHOOL OF JEWISH STUDIES

CONTENTS

Page
Trustees' report 1-10
Independent auditor's report 12 - 14
Statement of financial activities 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 33

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 JULY 2025

The Trustees present their Annual report together with the audited financial statements of The London School of Jewish studies ('LSJS', the 'charity' or 'charitable company') for the year 1 August 2024 to 31 July 2025. 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 charity 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.

The London School of Jewish Studies is also referred to as "the College" throughout this report.

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Objectives and activities

a. Policies and objectives

The charitable company's objects are the education and training of educational leaders for Jewish communities and the provision of higher Jewish learning for the laity. Since 1855, the College has fulfilled this function and today its graduates can be found serving the Jewish Community in the UK and abroad as rabbis, lay leaders, headteachers, teachers and educators. The College has a list of esteemed graduates including the late Emeritus Chief Rabbi the Lord Sacks, (former President), the late Rabbi Dr Abraham Levy, former spiritual leader of the Spanish & Portuguese Sephardi community in the UK (who was also former Deputy President and was Honorary Deputy President of the College) and Rabbi Joseph Dweck (Senior Rabbi of the Spanish & Portuguese Sephardi community and Deputy President of the College). The current Chief Rabbi, Sir Ephraim Mirvis is the President of the College.

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. Activities undertaken to achieve objectives

The College provides a number of Higher Education courses on the Wohl Campus for Jewish Education, including teacher training qualifications with a focus on providing teachers for Jewish schools, continuing professional development for teachers of Jewish Studies, and BA and MA degrees in Jewish Education to enable them to progress in their careers as educational leaders for the Jewish community both in the UK and around the world. An annual publication is produced by the College setting out its programmes and impact in more detail. In recent years the charitable company has broadened the scope of its activities responding to communal needs, offering a range of adult learning programmes with a particular emphasis on accessible, text-based learning for all.

The day-to-day activities and courses run at the College are attended by people of all types of religious backgrounds including Orthodox and non-Orthodox Jews and those of other faiths. Courses are educational and provide a broad spectrum of views on all the topics covered. Courses are advertised in the press, on the internet and through various social media platforms and are open to all regardless of ability to pay the appropriate course fee.

Our degree programmes (BA and MA in Jewish Education) and Teacher Training Programmes offer access to higher education to those wishing to gain a degree and/or Qualified Teacher Status. Some sectors of the community would otherwise not have access to higher education, many alongside employment, and when the students graduate, they teach in schools across the spectrum of the community. 50 Jewish schools partner with LSJS to train teachers. LSJS has become the pre-eminent provider of teacher training for the Jewish community and has developed a reputation as providing excellent quality teachers, for both Jewish and general studies together with a range of specialist subjects. Alf go on to find employment.

Bursaries are awarded through third party gifts to students based on the degree of need and the funds available. Third party bursaries are also sourced and awarded where appropriate.

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Achievements and performance

a. Main achievements of the charity

In the year, 23 teachers achieved Qualified Teacher Status through LSJS's three teacher training programmes, as well as 10 who achieved Qualified Teacher Status through our Assessment Only programme. All achieved offers of employment in schools. This success was celebrated at a Graduation Ceremony in July 2025.

Six students graduated from the MA programme in Jewish Education. Six BA (Hons) in Jewish Education students completed their studies.

The MA programme in Jewish Education is offered online (distance learning). This has opened the MA option to students from across the UK (unable to study in London) and around the world. In 2025-26 students in the process of undertaking this programme are from the UK, South Africa, Turkey, the Netherlands, Sweden, Italy, Norway, USA and Israel. They are all progressing well.

The BA programme is now also offered as a distance learning programme. Distance learning students together with on-campus learning BA students in Jewish Education continues to provide a vital steppingstone towards achieving Qualified Teacher Status. A total of 29 students followed this route in 2024-25.

In 2024-5, we delivered our initial teacher training programme according to the new government requirements, which were mandatory from September 2024. These included greater emphasis on mentoring training and processes together with curricular reforms.

The greater workload generated by our accreditation of the Office for Students (OfS) prompted LSJS to employ an additional part-time member of staff to ensure we are compliant with not only the OfS, but also with standards set by the DfE, Ofsted and Middlesex University.

In 2025, the LSJS annual National Conference for Primary School Jewish Studies teachers took place with 180 teachers from all over the United Kingdom and Europe. 21 different sessions were available during the day on a variety of pedagogic and educational leadership topics, as well as a wraparound 2-day additional programme for 20 European participants. This conference, as well as the Secondary School Teachers' Conference held in May 2025, which attracted 80 participants, plus 10 participants from Europe, was sponsored by UnitEd (a project of the Ministry of the Diaspora in Israel).

LSJS continued to offer the adult education programmes both in-person and online. The events included interactive museum tours, international tours, one-off sessions, in-depth courses, book launches and more, benefitting from the online access for teachers overseas. The in-depth offering was increased, enabling our students to commit to a year of study with a cohort of fellow students and maximising the impact of their learning. These included a successful programme for young professionals called the Rabbi Sacks Learning Fellowship and a programme called lyun to support women to learn Jewish law in depth.

b. Fundraising activities

The charity manages its own fundraising activities with an in-house professional and does not employ the services of an external fundraiser or involve commercial participants.

The charity aims to achieve best practice in the way in which it communicates with donors and other supporters. It takes care with both the tone of its communications and accuracy of its data to minimise the pressure on supporters. The charity is not registered with the Fundraising Regulator but adheres to the Code of Fundraising Practice. All direct marketing is monitored to ensure it is not unreasonably intrusive or persistent. All marketing material contains clear instructions as to how a recipient can be removed from mailing lists. There were no complaints received about fundraising activities during the year to 31 July 2025.

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Financial review

a. Reserves policy and going concern

As described above, the charitable company carries out a diverse range of activities, some of which comprise short-term and externally funded projects whilst others comprise long term projects requiring significant ongoing financial commitment and investment.

The Trustees have examined the requirement for free reserves, i.e., those unrestricted funds not invested in tangible fixed assets, designated for specific purposes, or otherwise committed. The Trustees consider that, given the nature of the charitable company's work, the level of free reserves representing general fund net current assets, would ideally be approximately £440,000 equivalent to 4 months' annual expenditure on unrestricted funds. The Trustees believe that this level of reserves would provide sufficient flexibility to cover temporary shortfalls in incoming resources due to timing differences in income flows, adequate working capital to cover core costs, and will allow the charity to operate and respond to unforeseen emergencies whilst specific action plans are implemented.

The level of unrestricted reserves continued to improve over the last year and the forecast for the next year is for these reserves to remain static. The College has continued to grow rental and programme income.

The charity continued all its learning, adult education classes and tours both in person and online. LSJS also continues to run a variety of fundraising events.

The Trustees therefore believe that the charity will continue as a going concern owing to support from its donors and the continued strong income from courses offered by the College.

b. Financial performance

The College wishes to thank all its donors and supporters for their continued support.

A summary of the year's results can be found on page 15 of these financial statements. Total income was £1,819,817 (2024: £1,801,939). The College incurred total expenditure of £1,791,342 during the year (2024: £1,889,847).

The balance sheet shows total funds of £1,170,278 (2024: £1,141,803 which includes restricted funds of £30,594 (2024: £20,996). These monies have either been raised for and their use restricted to specific purposes, or they comprise donations subject to donor-imposed conditions. Further details can be found in note 21.

The unrestricted funds of the charitable company at 31 July 2025 total £1,139,684 (2024: £1,120,807.)

Included in other creditors is a claim for £460,000, notified by the Universities Superannuation Scheme (USS) to LSJS relating to a former employee of Jews' College who was a member of that scheme. Jews' College (which no longer exists) was a separate legal entity to LSJS. As the employee was not employed by LSJS, it is the view of the trustees that LSJS is not liable for the USS claim.

To promote continued financial stability, the College has continued to review all expenditure, operations, and functions throughout the year.

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

c. Principal risks and uncertainties

The Trustees are responsible for the management of risks faced by the charitable company. They have assessed the major potential risks to which the charitable company is exposed, in particular those relating to the specific operational areas of the charitable company, its investments and its finances.

The main risks faced by the charitable company and how these are being addressed are as follows:

The Trustees believe that the major financial risks facing the charitable company have been identified. They are mitigated by continuing fundraising activities, closely monitoring levels of reserves and ensuring that adequate controls exist over key financial systems. The Trustees recognise that the charitable company's systems provide reasonable assurance that risks are being adequately managed and that systems are in place to mitigate the effects of the risks identified.

Plans for future periods

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Structure, governance and management

a. Constitution

London School of Jewish Studies (formerly Jews' College) is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association dated 21 August 2009. LSJS is also referred to within this report as the charitable company and College.

b. Methods of appointment or election of Trustees

When new Trustees are appointed, they are given an introduction into the activities of the College and provided with all relevant information they need to fulfil their roles, which includes information about the role of trustees and charity law.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

B Benjamin, Chair

N Cohen (Appointed 27 March 2025)

S Gamsu H Goldstein

S Noe

S Nyman, Treasurer G Phillips

M Rothem

J Winston (Appointed 29 May 2025) E Conway

c. Key management personnel

The senior management team of LSJS comprises the key management of the charitable company in charge of directing and controlling, running and operating the charitable company on a day-to-day basis. Staff remuneration and pay is set by the Board of Trustees. None of the Trustees are remunerated for their services as Trustees.

d. Related party relationships

The related party transactions which took place during the year are detailed in note 25.

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

Statement of Governance and Internal Control

Governance

In accordance with the Memorandum and Articles of the charity and the charity's Governance Charter, the Board of Trustees are responsible for ensuring the effective governance and management of the affairs of the Charity. In particular its duties are:

The Trustees have established the following committees to support their work:

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Statement of Governance and Internal Control (continued)

The Board's practice and procedure is in line with the OfS Regulatory Framework for Higher Education in England and the guidance notes issued by the OfS. It also conducts its business in accordance with the Standards in Public Life and the Committee of University Chairs (CUC) Higher Education Code of Governance 2020. It has formally adopted the principles of the CUC Higher Education Remuneration Code and the CUC's Higher Education Audit Committee's Code of Practice as appropriate to the size and nature of the institution.

The charity maintains a Register of Interests of members of the Board and senior staff which may be consulted by arrangement with the Chief Operating Officer.

Executive management is delegated to the Senior Management Team. They make regular reports to the Board of Directors on the progress with the development of the charity.

Statement of internal control

The Trustees are responsible for maintaining a sound system of internal financial control in accordance with the responsibilities assigned to the Board by the Higher Education and Research Act (2017) and the registration requirements of the OfS.

The system of internal control is designed to manage the risk of failure to achieve strategic business objectives. As well as supporting the achievement of aims and objectives, it includes the appropriate policies including a Scheme of Delegation to ensure propriety, value for money and the safeguarding of public and other funds and assets while providing for the prevention and detection of corruption, fraud, bribery and other irregularities.

The system also encompasses risk management at the charity. To this end the charity has approved a risk management policy and a risk management plan which is linked to the strategic objectives of the charity as well as financial, operational and compliance risks and how these are being mitigated and managed. The Board continues to review the risk management plan to ensure that it understands how the risks are being managed. The Risk Management Plan is updated throughout the year and includes the main risk owners and risk mitigating actions.

The system of internal control has been in place throughout the year ended 31 July 2025 and up to the date of approval of the financial statements and is consistent with OfS guidance.

The key elements of the internal risk control system, designed to discharge responsibilities set out above, include the following processes:

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

The Board has taken reasonable steps to: {a) ensure that there are appropriate financial and management controls in place to safeguard funds from all sources, especially in relation to the regularity and propriety of the use of the tuition fees received; (b) safeguard the charity's assets and prevent and detect fraud; {c) secure the efficient and effective management of the charity's resources; and (d) ensure that the tuition fees received are used only for the purposes they have been granted in accordance with the existing regulations and legislation.

The Board oversees the preparation of an annual report and accounts and lodges an annual report and accounts with Companies House, in addition to which the financial statement is presented to meet OfS.

Members' liability

The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

Statement of Trustees' responsibilities

The trustees, who are also the directors of The London School of Jewish Studies for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

The auditor, Goldwins, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.

THE LONDON SCHOOL OF JEWISH STUDIES

TRUSTEES' REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025

Disclosure of information to auditor

The trustees' report was approved by the Board of Trustees.

==> picture [6 x 6] intentionally omitted <==

----- Start of picture text -----
4
----- End of picture text -----

B Benjamin, Chair Trustee Date:[Pf] 4[bee] a[ la ey..] a Yo

-10-

THE LONDON SCHOOL OF JEWISH STUDIES

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 JULY 2025

The Trustees, who are also the directors of THE LONDON SCHOOL OF JEWISH STUDIES for the purpose 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

THE LONDON SCHOOL OF JEWISH STUDIES

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE LONDON SCHOOL OF JEWISH STUDIES

Opinion

We have audited the financial statements of The London School Of Jewish studies (the 'charity') for the year ended 31 July 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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:

give a true and fair view of the state of the charitable company's affairs as at 31 July 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

the information given in the trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.

THE LONDON SCHOOL OF JEWISH STUDIES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF THE LONDON SCHOOL OF JEWISH STUDIES

Opinion on other matters required by the Office for Students (OfS) Audit Code of Practice

In our opinion, in all material respects:

We have nothing to report in respect of the following matters in relation to which the OfS requires the auditor to report where the provider's grant and fee income, as disclosed in the note to the accounts, has been materially mistated; and the provider's expenditure on access and participation activities for the financial year has been" materially misstated.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

the financial statements are not in agreement with the accounting records and returns; or

we have not received all the information and explanations we require for our audit; or

the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

THE LONDON SCHOOL OF JEWISH STUDIES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF THE LONDON SCHOOL OF JEWISH STUDIES

Auditor's 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 auditor's 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: (www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed

Anthony Epton (Senior Statutory Auditor)

For and on behalf of Goldwins Limited, Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW62EG Date: .......[1] ..[0] ...[D] ...[e] ...[c] .[e] ...[m] ...[ber 2025]

THE LONDON SCHOOL OF JEWISH STUDIES

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2025

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income and endowments from:
Donations and legacies 3 713,911 179,842 893,753 754,092 206,461 960,553
Charitable activities 4 596,059 97,900 693,959 515,612 100,000 615,612
Investments 5 12,075 12,075 13,639 13,639
Other income 6 220,030 220,030 212,135 212,135
Total income 1,542,075 277,742 1,819,817 1,495,478 306,461 1,801,939
Expenditure on:
Raising funds 7 125,974 125,974 53,069 53,069
Charitable activities 8 1,358,828 306,540 1,665,368 1,489,353 347,425 1,836,778
Total expenditure 1,484,802 306,540 1,791,342 1,542,422 347,425 1,889,847
Net lncome/(expenditure ) 57,273 (28,798) 28,475 (46,944) (40,964) (87,908)
Transfers between
funds (38,396) 38,396
Net movementin
funds 10 18,877 9,598 28,475 (46,944) (40,964) (87,908)
Reconciliation of funds:
Fund balances at 1 August
2024 1,120,807 20,996 1,141,803 1,167,751 61,960 1,229,711
Fund balances at 31 July
2025 1,139,684 30,594 1,170,278 1,120,807 20,996 1,141,803

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

-15-

THE LONDON SCHOOL OF JEWISH STUDIES

BALANCE SHEET

AS AT 31 JULY 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 15 577,930 606,941
Heritage assets 16 297,540 297,540
875,470 904,481
Current assets
Debtors 17 67,583 63,225
Cash at bank and in hand 838,923 929,810
906,506 993,035
Creditors: amounts falling due within 18
one year (611,698) (755,713)
Net current assets 294,808 237,322
Total assets less current liabilities 1,170,278 1,141,803
The funds ofthe charity
Restricted income funds 21 30,594 20,996
Unrestricted funds 22 1,139,684 1,120,807
1,170,278 1,141,803

The notes on pages 18 to 33 form part of these financial statements.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The financial statements were approved by the Trustees on ................

f 4 B Benjamin, Chair Trustee

Company registration number 06997994 (England and Wales)

-16-

THE LONDON SCHOOL OF JEWISH STUDIES

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 JULY 2025

Notes
Cash flows from operating activities
Cash absorbed by operations
27
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash generated from investing activities
Net cash generated from financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 £
2025
(2,190)
12,075		 £
2024
£
(100,772)
(5,390)
13,639
9,885
(90,887)
929,810
838,923		 £
(19,553)
8,249
(11,304)
941,114
929,810

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

Charity information

The London School of Jewish Studies is a private company limited by guarantee incorporated in England and Wales. The registered office is Schaller House, 44a Albert Road, London, NW4 2SJ.

1.1 Accounting convention

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.

The London School of Jewish Studies 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 prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest£.

1.2 Going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements.

1.3 Charitable funds

The general fund comprises those monies which are freely available for application towards meeting the charitable objectives of the charitable company at the discretion of the Trustees.

The fixed asset fund comprises the net book value of the charitable company's tangible fixed assets and heritage assets, the existence of which is fundamental to the charitable company being able to perform its charitable work and thereby achieve its charitable objectives. The value represented by such assets should not be regarded, therefore, as realisable.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity 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.

-18 -

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.4 Income

Income comprises donations, legacies, investment income, income from charitable activities and other income including rental income. Income is recognised in the period in which the charitable company had entitlement to the income, the amount of income can be measured reliably and it Is probable that the income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

Income from charitable activities is made up of student fees and amounts received from government funding agencies that relate to training and development. Income arising through providing educational courses is recognised on an accruals basis, with amounts received in advance being shown in deferred income.

Interest from funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank.

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 carried forward and shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of the receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Grants are accounted under the accruals model. Grants of a revenue nature are recognised in the Statement of financial activities in the same period as the related expenditure.

Interest on funds held on deposit is included when received.

-19-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

{Continued)

1.5 Expenditure

Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the charitable company through the provision of education and courses for students. Such costs include direct programme costs and support costs in respect to the operation of the charitable company including governance costs.

Governance costs are the costs associated with the governance arrangement of the charitable company and include audit costs and the costs of other necessary legal procedures for compliance with statutory requirements.

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.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes" and includes costs of all fundraising activities events and non-charitable trading.

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

All expenditure is inclusive of irrecoverable VAT.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Over a 50-year period Computers Over a 5-year period

Freehold land is not depreciated.

1.7 Heritage assets

The library collection includes a number of items of historical significance which were valued in 1998. Due to the nature of the heritage asset, depreciation would be immaterial as the collection's useful life is considered to be indefinite and therefore no depreciation is charged.

At each reporting date, the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined by the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

1.8 Cash and cash equivalents

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. Bank overdrafts are shown within current liabilities.

-20-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

The charity's policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

-21-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

(Continued)

Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of financial activities.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the charity would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of financial activities.

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

-22-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

1 Accounting policies

(Continued)

1.10 Taxation

The London School of Jewish Studies (formerly Jews' College) is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

1.11 Pensions

The charity offers a workplace pension. This takes the form of a defined contribution scheme. Contributions on behalf of employees are recognised in the Statement of financial activities in the year in which they are payable.

1.12 Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key accounting estimates and assumptions

Valuation of heritage assets: The heritage assets represent a collection of books in The London School of Jewish Studies library, these are mostly historic and religious texts and as such, there is a limited market for these items. The value of these items is therefore uncertain and is necessarily a Trustees' estimate based on a valuation made in 1998. At the year end the carrying amount of the heritage assets is stated in note 16. The accounting policy for heritage assets is described in note 1.7.

Valuation of freehold property: the freehold property was revalued in January 2023 on an open market basis. The charity has continued to adopt the cost model and holds the property in the accounts at historic cost as disclosed in note 15.

-23-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

3 Income from donations and legacies

Unrestricted
funds
2025
£
Donations and gifts
Donations and grants
713,911
Donated goods, facilities
and services
713,911
Income from charitable activities
Unrestricted
funds
2025
£
Heading #ac989
Students fees
596,059
Training and development
596,059		 Unrestricted
funds
2025
£
713,911		 Restricted
funds
Total
Unrestricted
funds
Restricted
funds
Total
2025
2025
2024
2024
2024
£
£
£
£
£
179,842
893,753
654,092
206,461
860,553
100,000
100,000
713,911 179,842
893,753
754,092
206,461
960,553
Restricted
Total Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2024
2024
2024
£
£
£
£
£
596,059
515,612
515,612
97,900
97,900
100,000
100,000
596,059 97,900
693,959
515,612
100,000
615,612

4 Income from charitable activities

5 Income from investments

**Unrestricted ** Unrestricted
funds funds
2025 2024
£ £
Interest receivable 12,075 13,639

6 Other income

Rental income

Unrestricted Unrestricted
funds funds
2025 2024
£ £
220,030 212,135

-24-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

7 Expenditure on raising funds

Fundraising and publicity
Other fundraising costs
Staff costs		 Unrestricted
funds
Unrestricted
funds
2025
£
2024
£
95,266
(1,032)
30,708
54,101
125,974
53,069

8 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Premises running costs
Premises security costs
Educational courses
Bad Debt write off
Creditor write off
Foreign exchange (gain) loss
Governance costs
Share of support and governance costs (see note 9)
Support
Analysis by fund
Unrestricted funds
Restricted funds		 Activities
Total
Activities
Total
2025
£
2025
£
2024
£
2024
£
399,116
399,116
529,868
529,868
31,201
31,201
30,763
30,763
118,553
118,553
199,893
199,893
427,989
427,989
477,524
477,524
166,076
166,076
107,701
107,701
9,800
9,800
(1,700)
(1,700)
433
433
(75)
(75)
38,646
38,646
39,190
39,190
1,182,014
1,182,014
1,392,964
1,392,964
483,354
483,354
443,814
443,814
1,665,368
1,665,368
1,836,778
1,836,778
1,358,828
1,358,828
1,489,353
1,489,353
306,540
306,540
347,425
347,425
1,665,368
1,665,368
1,836,778
1,836,778

-25-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

9
Support costs allocated to activities
Staff costs
Premises running costs
Educational courses
10
Net movementinfunds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2025
£
2024
£
288,011
230,035
31,967
37,375
163,376
176,404
483,354
443,814
2025
£
2024
£
15,000
15,000
31,201
30,763

11 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

12 Employees

The average monthly number of employees during the year was:

2025
Number
17
Employment costs
2025
£
Wages and salaries
771,148
Social security costs
78,822
Employer's pension
12,130
Other pension costs
(144,815)
717,835		 2024
Number
17
2024
£
744,878
56,659
12,467
814,004

-26-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

12
Employees
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001-£70,000
£70,001-£80,000
£80,001-£90,000
£90,001-£100,000
£100,001-£110,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
Aggregate compensation		 (Continued)
2025
2024
Number
Number
1
2
1
2
1
1
2
1
2025
£
2024
£
316,177
302,831

13 Staff costs (continued)

The total remuneration package for the Head of Provider in each year was £116,626 ( 2024:£95,738).

The board of trustees considers that the pay for the Head of Provider is in line with general charities of a similar size. In considering this, the Board is mindful that the charity provides the Head of Provider and senior management with only the statutory minimum level of benefits whereas many institutions will provide their senior team with an extensive suite of costly additional benefits.

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. Type text here

-27-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

15
Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 August 2024
1,347,573
Additions
At 31 July 2025
1,347,573
Depreciation and impairment
At 1 August 2024
751,249
Depreciation charged in the year
26,951
At 31 July 2025
778,200
Carrying amount
At 31 July 2025
569,373
At 31 July 2024
596,324
16
Heritage assets		 Computers
Total
£
£
19,058
1,366,631
2,190
2,190
21,248
1,368,821
8,441
759,690
4,250
31,201
12,691
790,891
8,557
577,930
10,617
606,941

At 1 August 2024 and at 31 July 2025

Library collection £ 297,540

Heritage assets is made up of the College's library collection. The Trustees consider that there has been no impairment of these assets during the period under review.

17
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
59,778
Prepayments and accrued income
7,805
67,583		 2024
£
55,187
8,038
63,225

-28-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

18 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2025
£
Other taxation and social security
22,714
Trade creditors
31,744
Other creditors
460,550
Accruals and deferred income
96,690
611,698		 2024
£
20,729
32,925
607,780
94,279
755,713

Included within other creditors is a claim for £460,000, notified by USS to The London School of Jewish Studies, relating to a former employee of Jews' college who was a member of the scheme. Jews' College (which no longer exists) was a separate legal entity to The London School of Jewish Studies.

19
Deferred income
Deferred income at 1 August 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 July 2025		 30,828
30,244
(30,828)
(30,244)
30,828
30,828

Deferred income relates to amounts received in advance from students for terms that are yet to take place.

20 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 12,130 12,467

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

-29-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 August
2024
£
Jewish Lives' Fund
17,996
Security Grant
Teaching Agency - Mainstream
Tagers - Joanne Greenaway's
publication
3,000
Sacks Chair Fund
20,996
Previous year:
At 1 August
2023
£
Library Fund
724
Security Grant
2,293
Teaching Agency - Mainstream
25,000
Teach to Lead
700
Jewish Lives' Fund
17,996
Tanach Course
275
Questioning Belief
3,500
Sacks Chair Fund
11,472
Student Fees
Tagers - Joanne Greenaway's
publication
61,960		 Incoming
resources
Resources
expended
Transfers
At 31 July
2025
£
£
£
£
15,000
{5,402)
27,594
108,085
(118,938)
10,853
97,900
(124,050)
26,150
3,000
56,757
{58,150)
1,393
277,742
(306,540)
38,396
30,594
Incoming
resources
Resources
expended
Transfers
At 31 July
2024
£
£
£
£
(724)
114,976
(117,269)
100,000
(125,000)
(700)
17,996
(275)
(3,500)
35,992
{47,464)
52,493
(52,493)
3,000
3,000
306,461
(347,425)
20,996

-30-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

21 Restricted funds

(Continued)

The Library Fund was established to support the project to update the catalogue and rationalise the collection .

The Security Grant is money given by the Community Security Trust to cover the cost of physical guarding of the premises whilst it is occupied.

The Teaching Agency funds funds represented income and expenditure in relation to the Jewish Teacher Training partnership remove JTTP - in relation to training and developing teachers.

The Teach to Lead fund is money given by the Pincus Fund for Jewish Education, in support of the new teacher training, professional development and online courses for Jewish Educators Project.

The Jewish Lives fund relates to income and expenditure on a research project funded by Rothchild. The project involves a longitudinal study which follows the lives of Jewish families over time.

The Sacks Chair and Questioning Belief fund relates to the work of Rabbi Dr Raphael Zarum, the Dean of LSJS, who has been appointed as the first occupant of the Rabbi Sacks Chair in Modem Jewish Thought and in this new role he will have the opportunity to teach, write, and amplify many of the teachings of Rabbi Sacks.

The Student Fees fund represents income and expenditure in relation to degree bursaries and teacher training.

Tagers - Joanne Greenaway's publication fund was established to sponsor publication of a forthcoming book by Joanne Greenaway.

22 Unrestricted funds

The fixed asset fund comprises the net book value of the charitable company's tangible fixed assets and heritage assets.

General Funds - all funds
Fixed asset fund
General funds
Previous year:
General Funds- all funds
Fixed asset fund		 At 1 August
2024
Incoming
resources
Resources
expended
Transfers
At 31 July
2025
£
£
£
£
£
216,326
1,586,305
(1,711,527)
91,104
904,481
2,190
(31,201)
875,470
(46,420)
257,926
(38,396)
173,110
1,120,807
1,542,075
(1,484,802)
(38,396)
1,139,684
At 1 August
2023
Incoming
resources
Resources
expended
Transfers
At 31 July
2024
£
£
£
£
£
237,897
1,490,088
(1,511,659)
216,326
929,854
5,390
(30,763)
904,481
1,167,751
1,495,478
(1,542,422)
1,120,807

-31-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

23 Analysis of net assets between funds

Unrestricted
funds
2025
£
At 31 July 2025:
Tangible assets
547,336
Heritage assets
297,540
Current assets/(liabilities)
294,808
1,139,684
Unrestricted
funds
At 31 July 2024:
2024
£
Tangible assets
585,945
Heritage assets
297,540
Current assets/(liabilities)
237,322
1,120,807		 Restricted
funds
Total
2025
£
2025
£
30,594
577,930
297,540
294,808
30,594
1,170,278
Restricted
Total
funds
2024
£
2024
£
20,996
606,941
297,540
237,322
20,996
1,141,803

24 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
£
Within one year
18,624
Between two and five years
5,836
24,460		 2024
£
20,241
30,569
50,810

25 Related party transactions

During the year Trustees donated funds of £105,175 (2024: £49,210). Donations totalling £6,000 (2024: £24,500) were received from charitable organisations who share a common trustee with LSJS. These donations were made with no conditions attached. Rental income totalling £19,800 (2024: 46,340) was received from charitable organisations which share a common Trustee with LSJS.

-32-

THE LONDON SCHOOL OF JEWISH STUDIES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2025

26 Access and participation investment

Whilst the LSJS is not required to have a formal Access and Participation Plan, the Charity continues to invest in all areas related to developing and improving access and participation for its students.

27
Cash absorbed by operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movementsinworking capital:
(lncrease)/decrease in debtors
(Decrease)/increase in creditors
Cash absorbed by operations		 2025
2024
£
£
28,475
(87,908)
(12,075)
(13,639)
31,201
30,763
(4,358)
16,438
(144,015)
34,793
(100,772)
(19,553)

-33-