TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Charity number 1135602
Accounts
For The Year Ended
31 December 2021
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees’ annual report | 2 - 5 |
| Independent examiner’s report | 6 |
| Statement of financial activities | 7 |
| Statement of financial position | 8 |
| Notes to the accounts | 9 - 11 |
Page 1
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Legal And Administrative Information
Trustees
M Shalom M Nissim A Portal
Charity’s Correspondent Address
14 Holmdale Gardens London NW4 2LX
Details of Formation
The charity is constituted by trust deed dated 20 October 2008 and registered with the charity commission on 20 April 2010 under charity number 1135602
Bankers
Natwest
Independent Examiner
Justin Cowan, FCA Albeck Limited Chartered Accountants 49 Mowbray Road Edgware Middlesex HA8 8JL
Page 2
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Trustees’ Annual Report
The trustees present their annual report and the annual accounts of the charity for the year ended 31 December 2021. The accounts have been prepared in accordance with the accounting policies set out on page 9 and 10 and comply with the charity’s trust deed and applicable law.
Legal and administrative information set out on page 1 forms part of this report.
Constitution and Objects of the Charity
The charity is constituted by trust deed dated 20 October 2008 and registered with the charity commission on 20 April 2010 under charity number 1135602.
The principal objectives of the Charity are to provide:
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To advance the education of the pupils at Toras Hashem Primary School (previously Torat Emet Primary School) by providing and assisting in the provision of facilities for education at the school.
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To provide extra-curricular activities to benefit pupils at Toras Hashem Primary School, their parents and wider families.
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To advance in life and relieve needs of young people through:
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a) the provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;
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b) providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.
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To promote any other exclusively charitable objects and purposes as the trustees see fit, provided that they are regarded as charitable by the law of England and Wales.
The trustees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 4 of the Charities Act 2011. The trustees believe that the charity achieves a public benefit through these objectives.
Trustees and Governance
The trustees in office during the year were as follows:
M Shalom M Nissim A Portal
The power of appointing a new trustee or trustees hereof shall be vested in a majority in number of the trustees or if there is only one trustee for the time being the provisions of section 36 Trustees Act 1925 shall have affect.
Page 3
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Trustees’ Annual Report (Continued)
Charity’s Activities and Achievements
The year 2021 marked the thirteenth anniversary of the establishment of this association, and the trustees look back in pride at the achievements over the past years. The PTA has had the same trustees since its inception, although one of the four founder trustees left us some years ago. Furthermore, all those working for the PTA continue to do so on a voluntary basis and the charity has settled into a fairly predictable routine over the past seven years, concentrating on two areas, namely:
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1) Arranging extra-curricular activities for pupils and young people.
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2) Financial assistance to needy families connected with the local community.
EXTRA-CURRICULAR ACTIVITIES
These extra-curricular activities are split into two programmes, as follows:
The SMILE programme which offers sessions of PE, woodwork, music and computers for primary-school-aged pupils.
The LIFE programme which provides assistance with homework by qualified teachers.
Most sessions continue to be over-subscribed, and the children look forward all week to participating in these sessions. The PTA has worked hard to keep these vital programmes going.
Our partnership with Bnos Beis Yaakov Primary School, whose pupils participate in these programmes, continued throughout the year, and they provided the £35,000 finance for both programmes while we continue to administer them.
Both the SMILE and LIFE programmes were set up following grants from the Awards for All section of the National Lottery, and we gratefully acknowledge their ongoing support. This year, we applied for a further grant to increase the programmes and deal with post-Covid fallout amongst children and young people. Unfortunately, the bid was not successful.
ASSISTING NEEDY FAMILIES – ‘Family Support Fund’
The PTA has continued, and increased, its important work in assisting local needy families. From July 2021, we commenced repayment of the £50,000 loan that we drew down last year in June under the government sponsored scheme, with enhanced pay back options. Despite these repayments, the trusteed were able to increase support to needy families, primarily due to a £50,000 donation from Asset Peak Management.
The trustees continue to meet regularly to discuss the allocation of funds, and grants are distributed as and when funds are available. The PTA thank all individuals and trusts for their kind donations, and particularly wish to thank Aerium Finance, Yedidya Jebreel and Chasdei Gavriel Trust for their generosity.
Page 4
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Trustees’ Annual Report (Continued)
Charity’s Activities and Achievements (continued)
Due to the significant demand on the charity’s services, along with the fact that there are no overheads, the trustees have a policy of ensuring that there are no funds lying unused in the charity’s account. Volunteers do the minimal amount of necessary administration without charge. This ensures that all funds raised are spent on the extra-curricular programmes and providing for the needy.
Incoming resources for the year totalled £151,693 (2020: £114,525), of which £35,000 (2020: £35,000) was again donated by Bnos Beis Yaakov for the purpose of running the extra-curricular programmes. Expenditure for the needy for the year totalled £106,100 (2020: £79,740). The reserves on 31 December 2020 were £8,272 (2020: £284).
APPRECIATION
The trustees would like to conclude by expressing their personal appreciation to all the hardworking committee members and teams of volunteers. The PTA now looks forward to continuing its current two main areas of operations in 2022.
Related Party Transactions
There were no related party transactions in the year under review.
Investments Policy
The charity has one bank current account for day to day activities plus. This is the only investments to which the charity has title.
Reserves Policy
The trustees are working hard and investing a lot of time in ensuring that the charity is able to fund its short term financial obligations. Due to there being no overheads, reserves are not retained. All funds received are distributed soon after receipt except for a small amount retained to cover the ongoing obligations for the Smile and Life programmes.
Grant and Donation Making Policy
To act according to the charity’s objects as detailed in the “Constitution and Objects of the Charity” section, the trustees meet regularly to discuss the progress of the charity and future plans for the coming months. At these meetings, any approaches for financial support are discussed by the trustees. Those families who are deemed to be sufficiently needy are approved by the trustees and a selection of local families who have agreed to support this cause are approached and donations are requested. Any donations are used solely for the support of these families and other funds of the charity are not used for family support.
Risk Management
The trustees regularly undertake a review of the major risks to which the charity is exposed, and systems designed to mitigate those risks are considered on an ongoing basis.
There are two major risks that the trustees have identifies, as follows:
Page 5
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Trustees’ Annual Report (Continued)
Risk Management (continued)
(a) Fall in the level of donations
The level of donations is fundamental to the operation of the charity. Given that the charity is relatively new, the consistency of donations is of major importance. The trustees have tried to mitigate against a fall in the level of donations by having as many donors as possible and restricted the reliance on a small number of donors. The trustees are making every effort to increase the number of donors by seeking support from the local community in an attempt to reduce their current reliance on a few key donors. The trustees also make every effort to keep in regular contact with their donors so that they are able to see the difference that their contributions are making.
(b) Misappropriation of funds
The control of funds is key to any charity. As mentioned previously, the trustees meet regularly and discuss progress. At these meetings, expenditure is reviewed, and significant items of future expected expenditure are discussed. This ensures that all expenses paid out from the charity are legitimate. The trustees decided that since they are having an independent examination, any misappropriation of funds should also come to light at that time.
Since the banking arrangements ensure that only the trustees have access to the bank account, this also reduces risk of misappropriation.
Trustees’ Responsibilities in Relation to the Accounts
Law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year, which give a true and fair view of the state of the charity’s financial activities during the year and of its financial position at the end of the year.
In preparing those accounts, the trustees are required to:
select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent;
follow applicable UK accounting standards and the Statement of Recommended Practice, subject to any departures disclosed and explained in the accounts;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees and signed by their order.
Mrs M Shalom Trustee
31 October 2022
Page 6
Independent Examiner’s Report
to the Trustees of
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
for the Year Ended 31 December 2021
I report on the accounts of the trust for the year ended 31 December 2021, which are set out on pages 7 to 11.
Respective Responsibilities of Trustees and Independent Examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Justin Cowan, FCA
Albeck Limited Chartered Accountants 49 Mowbray Road Edgware Middlesex HA8 8JL
31 October 2022
Page 7
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Statement of Financial Activities
for the Year 31 December 2021
| Note Incoming resources Voluntary Income (2) Government Grants Total incoming resources (6) Charitable expenditure Charitable Expenditure (3) Grants and donations payable (3) Governance costs Total resources expended (6) Net movement in funds Total funds brought forward Total funds carried forward (6) |
General fund £ 111,514 - 111,514 __ - 106,100 - 106,100 ____ 5,414 24 £ 5,438 ===== |
Restricted fund Total 2020 £ £ £ 35,000 146,514 164,525 - - - 35,000 146,514 164,525 __ _ 34,500 34,500 34,740 - 106,100 129,625 - - - 34,500 140,600 164,365 __ __ ____ 500 5,914 160 260 284 124 £ 760 £ 6,198 £ 6,198 ==== ===== ===== |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing operations.
The notes on pages 9 to 11 form part of these accounts.
Page 8
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Statement of Financial Position
as at 31 December 2021
| Note | Unrestricted | Restricted | |||
|---|---|---|---|---|---|
| Funds | Funds | Total | 2020 | ||
| £ | £ | £ | £ | ||
| Current Assets | |||||
| Debtors | (4) | 45,148 | - | 45,148 | 50,000 |
| Cash at bank and in hand | 7,512 | 760 | 8,272 | 284 | |
| _____ | ____ | ______ | ____ | ||
| Total current assets | 50,024 | 260 | 53,420 | 50,284 | |
| Creditors:Amounts falling | |||||
| due after more than one year: | (5) | (47,222) | - | (47,222) | (50,000) |
| _____ | ____ | ______ | ____ | ||
| Net assets | (6) | £ 5,438 | £ 760 | £ 6,198 | £ 284 |
| ===== | ==== | ===== | ==== | ||
| Income Funds | |||||
| Unrestricted funds | (6) | 5,438 | - | 5,438 | 24 |
| Restricted funds | (6) | - | 760 | - | 260 |
| Total charity funds | (6) | £ 5,438 | £ 760 | £ 6,198 | £ 284 |
| ==== | ==== | ===== | ==== |
These accounts were approved on 31 October 2022 and signed on behalf of the trustees.
________ Trustee
Mrs M Shalom
The notes on pages 9 to 11 form part of these accounts.
Page 9
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Notes to the Accounts - 31 December 2021
1. Accounting Policies
a. Basis of Accounting
These accounts have been prepared in compliance with FRS102, ‘The Financial Reporting Standard in the UK and the Republic of Ireland’, the Statement of Recognised Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (Charities SORP (FRS102)) and the Charities Act 2011.
b. Basis of preparation
The accounts have been prepared on the historical cost basis.
c. Going concern
There are no material uncertainties regarding the charity’s ability to continue and, as such, the accounts have been prepared on the going concern basis.
d. Judgements and key sources of uncertainty from estimation
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
e. Fund accounting
General unrestricted funds comprise the accumulated surplus or deficit on the income and expenditure account. They are available for the use at the discretion of the trustees in furtherance of the general objects of the charity.
Restricted funds are subject to specific restricted conditions as imposed by the donors.
Designated funds are funds which have been set aside at the discretion of the trustees for specific purposes. There are no designated funds at the year end.
f. Donations and voluntary income
Donations are accounted for when the charity becomes entitled to the donation and any conditions for receipt are met.
Page 10
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Notes to the Accounts - 31 December 2021 (continued)
g. Grants and donations payable
Grants and donations payable are charged in the year in which the payment of funds is conveyed to the recipient.
All grants and donations made must be approved by the majority of the trustees, however, in almost all occasions, the trustees will not make a grant or donation if there is an objection by any of the trustees.
h. Support costs
Support costs are those costs which are common to all areas of the organisation. These are allocated across all areas of activity based on the number of service users for each activity.
i. Governance costs
Governance costs are associated with the governance arrangements of the charity and relate to the general running of the charity.
j. Cash Flow
The accounts do not include a cash flow statement because the Charity, as a small reporting entity, is exempt from the requirement to prepare such a statement.
| 2. | Voluntary Income | ||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Donations from individuals and charitable trusts | £111,514 | £129,525 | |
| ====== | ====== | ||
| General fund |
The general fund is mainly used to make donations to needy families via the family support fund.
Restricted Fund
The Restricted Fund represents donations, mainly from Bnos Beis Yaakov, to run the SMILE and LIFE programmes.
Page 11
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Notes to the Accounts - 31 December 2021 (continued)
| 3. | Costs in furtherance of charitable objects | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| PTA expenditure | |||
| SMILE (Sunday morning extracurricular) | 26,250 | 26,250 | |
| LIFE (homework club) | 8,250 | 8,490 | |
| £34,500 | £34,740 | ||
| ===== | ===== |
Grants and donations payable were £106,100 (2020: £129,625) and are grants made under the Family Support Fund. They are made in accordance with the charity’s objects and as approved by the trustees. Details of grants can be requested from the trustees at the charity’s correspondence address.
| 4. | Debtors | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Pledged donations | £45,148 | £50,000 | |
| ===== | ===== |
Pledged donations represents amounts guaranteed by a group of donors to ensure that the charity will be able to repay the Coronovirus bounce back loan.
| 5. | Creditors:Amounts falling due after | more than one year | more than one year | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Bank loan (unsecured) | £47,222 | £50,000 | ||||
| ===== | ===== | |||||
| 6. | Statement Of Funds | |||||
| 1 January | Income | Expenditure | At 31 |
December | ||
| 2021 | 2021 | |||||
| £ | £ | £ | £ | |||
| Unrestricted Funds | ||||||
| General fund (includes | ||||||
| family support) | 24 | 111,514 | (106,100) | 5,438 | ||
| Restricted Funds | ||||||
| PTA expenditure fund |
260 | 35,000 | (34,500) | 760 | ||
| £ | 284 | £146,514 | £(140,600) | £ 6,198 | ||
| ===== | ===== | ====== | ===== |
7. Analysis of staff costs
There were no employees during the year or the prior year.
8. Related party transactions
There have been no related party transactions in the period that require disclosure.
Page 11
TORAT EMET PRIMARY SCHOOL PARENT TEACHER ASSOCIATION
Notes to the Accounts - 31 December 2021 (continued)
9. Declarations
a. Designated Funds
The charity does not have any designated funds.
b. Discontinued, Continuing and Acquired Operations
All the charity’s operations are continuing operations and there were no operations discontinued or acquired in the year.
c. Funds in Deficit
No funds were in deficit at the balance sheet date.
d. Inalienable or Historic Assets
The charity had no assets at the balance sheet date classed as inalienable or historic.
e. Intangible Assets
The charity has no intangible assets.
f. Uncapitalised Fixed Assets
The charity has no material fixed assets which have not been capitalised and included on the balance sheet.