REGISTERED COMPANY NUMBER: 07236388 (England and Wales) REGISTERED CHARITY NUMBER: 1136871
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022
FOR
BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 9 to 12 |
BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED (REGISTERED NUMBER: 07236388)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 April 2022. 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
The charitable objects are:
i) The advancement of Orthodox Jewish religious education and education in general primarily but not exclusively by establishing, maintaining and managing a primary school for Jewish girls in the North West London area. ii) The advancement of such other objects as are for the benefit of the public and are charitable according to English law.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public befit when reviewing the charity's aims and objectives and in planning future activities.
There have no material changes in the objectives or policies of the charity during the year.
Public benefit
The Trustees confirm that it has complied with its duty under the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit.
STRATEGIC REPORT
Achievement and performance
The trustees are pleased to report that since its establishment the school has provided the highest standards within the National Curriculum and the provision of general Jewish education. The school has been recognised as a centre of excellence in learning. The school continues to expand and provides general and religious education to a growing number of pupils. The trustees are pleased to report that since the establishment of the school they have supported and continue to be instrumental and of assistance in the development of the school. Since the school started in 2010 with just 18 it has grown into a sizeable school with around 150 students.
Financial review
Financial position
During the year the charity had total income of £526,703 (2021: £793,504) which came from parents of students, grants and the wider community. The charity had total expenditure of £677,736 (2021: £620,064), the bulk of which were staff wages and associated costs. At the balance sheet date the charity had total unrestricted funds of £85,003 (2021: £236,036) which the trustees consider sufficient to allow the charity to continue to pursue its charitable objectives.
Investment policy and objectives
The charity is able to make any investment which the trustees see fit, subject to any conditions imposed or required by law.
Reserves policy
The trustees do not maintain a reserves policy as resources are used as available.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees meet several times during the year to consider the various ways of advancing the principal activities of the trust.
Recruitment and appointment of new trustees
The statutory power of appointing new trustees is vested in the continuing trustees. Under the requirement of the Memorandum and Articles of Association the trustees are elected to serve until they resign. At all times there has to be a minimum of three trustees.
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED (REGISTERED NUMBER: 07236388)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees
The chair of trustees is responsible for the induction of any new trustee which involves awareness of a trustee's responsibilities, the governing documents, administrative procedures and the history and philosophical approach of the charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07236388 (England and Wales)
Registered Charity number 1136871
Registered office
Kingsbury Synagogue Kingsbury Green Hool Close London NW9 8XR
Trustees
Mr Z Sobel Mrs D Sobel Mr Z Steinhart
Independent Examiner
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 28 February 2023 and signed on the board's behalf by:
Mr Z Sobel - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
Independent examiner's report to the trustees of Bnos Beis Yaakov Primary School Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of 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 matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Daniel Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
28 February 2023
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 APRIL 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 526,687 Investment income 3 16 Total 526,703 EXPENDITURE ON Raising funds 4 - Charitable activities 5 Charitable activities 677,736 Total 677,736 NET INCOME/(EXPENDITURE) (151,033) RECONCILIATION OF FUNDS Total funds brought forward 236,036 TOTAL FUNDS CARRIED FORWARD 85,003 |
2021 Total funds £ 793,499 5 793,504 9,747 610,317 620,064 173,440 62,596 236,036 |
|---|---|
The notes form part of these financial statements
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED (REGISTERED NUMBER: 07236388)
BALANCE SHEET 30 APRIL 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 - CURRENT ASSETS Debtors 11 40,000 Cash at bank and in hand 59,338 99,338 CREDITORS Amounts falling due within one year 12 (14,335) NET CURRENT ASSETS 85,003 TOTAL ASSETS LESS CURRENT LIABILITIES 85,003 NET ASSETS 85,003 FUNDS Unrestricted funds 85,003 TOTAL FUNDS 85,003 |
2021 Total funds £ 1,101 40,000 207,461 247,461 (12,526) 234,935 236,036 236,036 236,036 236,036 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 February 2023 and were signed on its behalf by:
Mr Z Sobel - Trustee
The notes form part of these financial statements
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 APRIL 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing 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 |
2022 £ (148,140) (148,140) 16 16 (148,124) 207,461 59,338 |
2021 £ 206,174 206,174 5 5 206,179 1,283 207,461 |
|---|---|---|
The notes form part of these financial statements
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease in debtors Increase/(decrease) in creditors Net cash (used in)/provided by operations 2. ANALYSIS OF CHANGES IN NET FUNDS |
2022 £ (151,033) 1,100 (16) - 1,809 **(148,140) ** |
2021 £ 173,440 4,640 (5) 35,196 (7,097) 206,174 |
|---|---|---|
| Net cash Cash at bank and in hand Total |
At 1.5.21 £ 207,461 207,461 **207,461 ** |
Cash flow At 30.4.22 £ £ (148,123) 59,338 (148,123) 59,338 (148,123) 59,338 |
Cash flow At 30.4.22 £ £ (148,123) 59,338 (148,123) 59,338 (148,123) 59,338 |
|---|---|---|---|
| 59,338 | |||
| 59,338 |
The notes form part of these financial statements
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. 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 - Straight line over 5 years Computer equipment - Straight line over 5 years
Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1998. Accordingly there is no taxation charge in these accounts.
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.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors and loans from banks.
Financial assets that are 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 Statement of Financial Activities.
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.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
1. ACCOUNTING POLICIES - continued
Legal status of the charity
The liability of each member is limited to £1, being the amount that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member.
2. DONATIONS AND LEGACIES
| Fees Donations Grants Grants received, included in the above, are as follows: Other grants 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Fundraising 5. CHARITABLE ACTIVITIES COSTS Charitable activities |
Direct Costs £ 491,827 |
2022 £ 187,143 182,126 157,418 526,687 2022 £ 157,418 2022 £ 16 2022 £ - Support costs (see note 6) £ 185,909 |
2021 £ 217,202 334,858 241,439 793,499 2021 £ 241,439 2021 £ 5 2021 £ 9,747 Totals £ 677,736 |
|---|---|---|---|
continued...
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
6. SUPPORT COSTS
| SUPPORT COSTS | ||
|---|---|---|
| Management £ Charitable activities 180,550 NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Governance Finance costs £ £ 414 4,945 2022 £ **1,101 ** |
Totals £ 185,909 |
| 2021 £ 4,639 |
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2022 nor for the year ended 30 April 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2022 nor for the year ended 30 April 2021.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees No employees received emoluments in excess of £60,000. 10. TANGIBLE FIXED ASSETS Fixtures and fittings £ COST At 1 May 2021 and 30 April 2022 31,250 DEPRECIATION At 1 May 2021 31,250 Charge for year - At 30 April 2022 31,250 NET BOOK VALUE At 30 April 2022 - At 30 April 2021 - |
2022 £ 422,505 11,490 3,637 437,632 2022 26 Computer equipment £ 5,500 4,399 1,101 5,500 - 1,101 |
2021 £ 395,558 17,207 3,718 |
|
|---|---|---|---|
| 416,483 | |||
| 2021 25 Totals £ 36,750 |
|||
| 35,649 **1,101 ** |
|||
| 36,750 | |||
| - | |||
| 1,101 |
continued...
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BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 APRIL 2022
| 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Pensions Other creditors Net wages Accruals and deferred income |
2022 £ 40,000 2022 £ - 3,680 1,504 2,000 4,151 3,000 14,335 |
2021 £ 40,000 2021 £ 667 5,618 1,241 2,000 - 3,000 12,526 |
|---|---|---|
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2022.
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