**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 2023** **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 2023** ||**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**|8 to 11| **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED (REGISTERED NUMBER: 07236388)** ## **Report of the Trustees FOR THE YEAR ENDED 30 APRIL 2023** 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 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** 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 £676,609 (2022: £526,703) which came from parents of students, grants and the wider community. The charity had total expenditure of £664,827 (2022: £677,736), the bulk of which were staff wages and associated costs. At the balance sheet date the charity had total unrestricted funds of £96,785 (2022: £85,003) 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. Page 1 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED (REGISTERED NUMBER: 07236388)** ## **Report of the Trustees FOR THE YEAR ENDED 30 APRIL 2023** ## **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 29 February 2024 and signed on the board's behalf by: Mr Z Sobel - Trustee Page 2 **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 2023. ## **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 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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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 29 February 2024 Page 3 ## **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** ## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 APRIL 2023** |2023
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
676,584
Investment income
3
25
**Total**
676,609
**EXPENDITURE ON**
**Charitable activities**
4
Charitable activities
664,827
**NET INCOME/(EXPENDITURE)**
11,782
**RECONCILIATION OF FUNDS**
Total funds brought forward
85,003
**TOTAL FUNDS CARRIED FORWARD**
96,785|2022
Total
funds
£
526,687
16
526,703
677,736
(151,033)
236,036
85,003| |---|---| The notes form part of these financial statements Page 4 ## **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED (REGISTERED NUMBER: 07236388)** ## **Balance Sheet 30 APRIL 2023** |2023
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
10
40,000
Cash at bank and in hand
70,724
110,724
**CREDITORS**
Amounts falling due within one year
11
(13,939)
**NET CURRENT ASSETS**
96,785
**TOTAL ASSETS LESS CURRENT LIABILITIES**
96,785
**NET ASSETS**
96,785
**FUNDS**
Unrestricted funds
96,785
**TOTAL FUNDS**
96,785|2022
Total
funds
£
40,000
59,338
99,338
(14,335)
85,003
85,003
85,003
85,003
85,003| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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 29 February 2024 and were signed on its behalf by: Mr Z Sobel - Trustee The notes form part of these financial statements Page 5 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** ## **Cash Flow Statement FOR THE YEAR ENDED 30 APRIL 2023** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) 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**|2023
£
11,361
11,361
25
25
11,386
59,338
70,724|2022
£
(148,139)
(148,139)
16
16
(148,123)
207,461
59,338| |---|---|---| The notes form part of these financial statements Page 6 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** ## **Notes to the Cash Flow Statement FOR THE YEAR ENDED 30 APRIL 2023** |**1.**|**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW**|**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW**|**FROM OPERATING**|**FROM OPERATING**| |---|---|---|---|---| ||**ACTIVITIES**|||| ||||2023|2022| ||||£|£| ||**Net income/(expenditure) for the reporting period (as per the**|||| ||**Statement of Financial Activities)**||11,782|(151,033)| ||**Adjustments for:**|||| ||Depreciation charges||-|1,100| ||Interest received||(25)|(16)| ||||-|1| ||(Decrease)/increase in creditors||(396)|1,809| ||**Net cash provided by/(used in) operations**||11,361|(148,139)| |**2.**|**ANALYSIS OF CHANGES IN NET FUNDS**|||| |||At 1.5.22|Cash flow|At 30.4.23| |||£|£|£| ||**Net cash**|||| ||Cash at bank and in hand|59,338|11,386|70,724| |||59,338|11,386|70,724| ||**Total**|59,338|11,386|70,724| The notes form part of these financial statements Page 7 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** **Notes to the Financial Statements FOR THE YEAR ENDED 30 APRIL 2023** ## **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... Page 8 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 APRIL 2023** ## **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.**
**CHARITABLE ACTIVITIES COSTS**
Charitable activities
**5.**
**SUPPORT COSTS**
Management
£
Charitable activities
183,325
**6.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|2023
£
191,432
363,090
122,062
676,584
2023
£
122,062
2023
£
25
Support
Direct
costs (see
Costs
note 5)
£
£
471,928
192,899
Governance
Finance
costs
£
£
474
9,100
2023
£
-|2022
£
187,143
182,126
157,418
526,687
2022
£
157,418
2022
£
16
Totals
£
664,827
Totals
£
192,899
2022
£
1,101| |---|---|---| continued... Page 9 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 APRIL 2023** ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 April 2023 nor for the year ended 30 April 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 April 2023 nor for the year ended 30 April 2022. ## **8. STAFF COSTS** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees||2023
£
403,069
6,531
4,198
413,798
2023
26||2022
£
422,505
11,490
3,637
437,632
2022
26| |---|---|---|---|---| |||||| |||||| No employees received emoluments in excess of £60,000. ## **9. TANGIBLE FIXED ASSETS** |**COST**
At 1 May 2022 and 30 April 2023
**DEPRECIATION**
At 1 May 2022 and 30 April 2023
**NET BOOK VALUE**
At 30 April 2023
At 30 April 2022
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Prepayments and accrued income|Fixtures
and
Computer
fittings
equipment
£
£
31,250
5,500
31,250
5,500
-
-
-
-
2023
£
40,000|Totals
£
36,750
36,750
-
-
2022
£
40,000| |---|---|---| continued... Page 10 **BNOS BEIS YAAKOV PRIMARY SCHOOL LIMITED** ## **Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 APRIL 2023** ## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||| |---|---|---| |Trade creditors
Social security and other taxes
Pensions
Other creditors
Net wages
Accruals and deferred income|2023
£
3,540
3,157
1,702
2,000
-
3,540
13,939|2022
£
-
3,680
1,504
2,000
4,151
3,000| |||14,335| ## **12. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 April 2023. ## **13. COMPANY LIMITED BY GUARANTEE** The charity company is limited by guarantee and does not have share capital. The articles of association of the company preclude the distribution of assets to the members of the company and accordingly a reconciliation of shareholders' funds is inappropriate. The liability of each member in the event of a winding up is limited to £10. Page 11