2020-07-31-accounts - Beis Yaakov Girls School Limited

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REGISTERED COMPANY NUMBER: 07327670 (England and Wales) REGISTERED CHARITY NUMBER: 1140161

BEIS YAAKOV GIRLS SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS

BEIS YAAKOV GIRLS SCHOOL LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	3
Independent Examiner's Report		4
Statement of Financial Activities		5
Balance Sheet	6	to	7
Cash Flow Statement		8
Notes to the Cash Flow Statement		9
Notes to the Financial Statements	10	to	17

BEIS YAAKOV GIRLS SCHOOL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2020

TRUSTEES J Leitner S S Sinitsky REGISTERED OFFICE First Floor 94 Stamford Hill London N16 6XS REGISTERED COMPANY 07327670 (England and Wales) NUMBER REGISTERED CHARITY 1140161 NUMBER INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS

Page 1

BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020

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 31 July 2020. 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).

REFERENCE AND ADMINISTRATIVE INFORMATION

The information is shown on page 1 of the financial statements and forms part of this report.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are, the advancement of Orthodox Jewish Religious Education, the advancement of such other objects as are for the benefit of the public and are charitable according to the laws of England and Wales. In this respect the trustees have set up a girls' school.

The trustees have considered the Charity Commission's general guidance on public benefit and in particular the guidance on advancing education and fee charging. Fees are to be charged but those in financial hardship will be given an allowance or be fully funded, according to circumstances. No child is refused education because of an inability to pay.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The trustees are satisfied with the results of the year. There was a substantial reduction in donations in the year,there being a major fundraising campaign in the previous year. Grant income rose although there was a reduction in school fee income. With an increase in school expenditure there was a deficit for the year.

FINANCIAL REVIEW

Reserves policy

The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity. Reserves at the year end were £159,843 (2019 - £178,589).

FUTURE PLANS

The trustees anticipate that the charity will continue on a similar basis in the foreseeable future subject to satisfactory income.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity is constituted as a limited company and is governed by its Memorandum and Articles of Association dated 27 July 2010.

Organisational structure

The power to appoint new trustees is vested in the current board. New trustees are appointed based on personal competence, specialist skills and experience They are inducted into the working of the charity by the current board and are given, in the view of the board, sufficient training to understand the nature of the charity. They are also encouraged to read the Charity Commission's various publications on trustees. The day to day running of the school is delegated to administrators.

Risk management

The trustees have reviewed the major risks that the charity faces and confirm that they have established systems to mitigate them.

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BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2020

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 27 May 2021 and signed on its behalf by:

J Leitner - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEIS YAAKOV GIRLS SCHOOL LIMITED

Independent examiner's report to the trustees of Beis Yaakov Girls School Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2020.

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 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.

E Meyer FCA BSc Institute of Chartered Accountants in England and Wales Sugarwhite Meyer Accountants Ltd First Floor 94 Stamford Hill London N16 6XS

27 May 2021

Page 4

BEIS YAAKOV GIRLS SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2020

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 523,403 EXPENDITURE ON Raising funds 3 6,587 Charitable activities 4 Charitable Activities 535,562 Total 542,149 NET INCOME/(EXPENDITURE) (18,746) RECONCILIATION OF FUNDS Total funds brought forward 178,589 TOTAL FUNDS CARRIED FORWARD 159,843	Restricted fund £ 80,631 - 80,631 80,631 - - -	2020 Total funds £ 604,034 6,587 616,193 622,780 (18,746) 178,589 159,843	2019 Total funds £ 897,863 67,056 660,143
			727,199
			170,664 7,925
			178,589

The notes form part of these financial statements

Page 5

BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

BALANCE SHEET 31 JULY 2020

Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 NET ASSETS FUNDS 17 Unrestricted funds: General fund TOTAL FUNDS	2020 £ 4,870 203,000 55,918 258,918 (53,945) 204,973 209,843 (50,000) 159,843 159,843 159,843	2019 £ - 200,000 31,463 231,463 (27,874) 203,589 203,589 (25,000) 178,589 178,589 178,589

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 notes form part of these financial statements

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BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

BALANCE SHEET - continued 31 JULY 2020

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

The financial statements were approved by the Board of Trustees and authorised for issue on 27 May 2021 and were signed on its behalf by:

J Leitner - Trustee

The notes form part of these financial statements

Page 7

BEIS YAAKOV GIRLS SCHOOL LIMITED

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2020

Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash (used in)/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 2 Cash and cash equivalents at the end of the reporting period 2	2020 £ 31,751 31,751 (7,300) (7,300) 24,451 31,463 55,914	2019 £ 11,319
		11,319
		-
		-

		11,319 20,144
		31,463

The notes form part of these financial statements

Page 8

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2020

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

	ACTIVITIES
			2020	2019
			£	£
	Net (expenditure)/income for the reporting period (as	per the
	Statement of Financial Activities)		(18,746)	170,664
	Adjustments for:
	Depreciation charges		2,430	-
	Loss on disposal of fixed assets		-	70,641
	Bank loan		50,000	-
	Increase in debtors		(3,000)	(200,000)
	Increase/(decrease) in creditors		1,067	(29,986)
	Net cash provided by operations		31,751	11,319
2.	ANALYSIS OF CASH AND CASH EQUIVALENTS
			2020	2019
			£	£
	Cash in hand		3,825	6,525
	Notice deposits (less than 3 months)		52,093	24,938
	Overdrafts included in bank loans and overdrafts falling due within one
	year		(4)	-
	Total cash and cash equivalents		55,914	31,463
3.	ANALYSIS OF CHANGES IN NET FUNDS
		At 1.8.19	Cash flow	At 31.7.20
		£	£	£
	Net cash
	Cash at bank and in hand	31,463	24,455	55,918
	Bank overdraft	-	(4)	(4)
		31,463	24,451	55,914
	Debt
	Debts falling due after 1 year	-	(50,000)	(50,000)
		-	(50,000)	(50,000)
	Total	31,463	(25,549)	5,914

The notes form part of these financial statements

Page 9

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020

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.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. The estimates and underlying assumptions are reviewed on an ongoing basis.

Income

Donations are included in full in the Statement of Financial Activities when received.

Fee income and grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Expenditure

Liabilities are recognised in the year in which they are incurred and includes irrecoverable VAT, which is reported as part of the expenditure to which it relates.

Raising funds comprise the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.

Support costs are those incurred to assist the work of the charity but are not direct charitable activities.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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.

Page 10

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

1. ACCOUNTING POLICIES - continued

Going concern

There are no material uncertainties about the charity's ability to continue.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Unrestricted funds £ Donations 129,658 Grants 87,234 School fees 306,511 523,403	Restricted funds £ - 80,631 - 80,631	2020 Total funds £ 129,658 167,865 306,511 604,034	2019 Total funds £ 444,175 123,305 330,383
			897,863

Grants received, included in the above, are as follows:

Disability Grant Security Grant General grant	2020 £ - 18,170 149,695 167,865	2019 £ 20,704 26,068 76,533
		123,305

3. RAISING FUNDS

Raising donations and legacies

Unrestricted Restricted funds funds £ £ Fundraising costs - - Advertising 6,587 - Function - - 6,587 -	2020 Total funds £ - 6,587 - 6,587	2019 Total funds £ 30,757 26,924 9,375
		67,056

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BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

4. CHARITABLE ACTIVITIES COSTS

4. CHARITABLE ACTIVITIES COSTS
Grant funding of Direct activities Costs (see (see note note 5) 6) £ £ Charitable Activities 578,656 16,590 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Rent, rates and service charge Insurance Light and heat Telephone Books and stationery Staff training Special needs and therapy fees Cleaning Repairs and maintenance Educational equipment Outings and activities Security Food Professional fees Depreciation 6. GRANTS PAYABLE Charitable Activities The total grants paid to institutions during the year was as follows: Advancement of education Wlodowa Misgov Ladoch Others under £2100	Support costs (see note 7) £ 20,947 2020 £ 369,231 73,415 - 8,940 1,847 19,287 72 18,196 12,550 26,802 1,558 11,296 19,370 11,942 1,720 2,430 578,656 2020 £ 16,590 2020 £ 16,590 7,000 6,910 2,680 16,590	Totals £ 616,193
		2019 £ 371,891 31,153 5,783 5,473 2,119 16,619 60 45,746 5,600 12,868 6,095 9,075 26,068 25,848 - -
		564,398
			2019 £ -
			2019 £ -

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BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

7. SUPPORT COSTS

SUPPORT COSTS
		Governance
	Management	costs	Totals
	£	£	£
Charitable Activities	17,460	3,487	20,947
Support costs, included in the above, are as follows:
Management
		2020	2019
		Charitable	Total
		Activities	activities
		£	£
Support costs		17,460	20,184
Loss on disposal of tangible fixed assets		-	70,641
		17,460	90,825
Governance costs
		2020	2019
		Charitable	Total
		Activities	activities
		£	£
Independent examiner's fee		1,080	1,080
Independent examiner's other fees		2,250	2,640
General expenses		157	1,500
Fees waived		-	(300)
		3,487	4,920
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
		2020	2019
		£	£
Depreciation - owned assets		2,430	-
Deficit on disposal of fixed assets		-	70,641

8. NET INCOME/(EXPENDITURE)

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2020 nor for the year ended 31 July 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2020 nor for the year ended 31 July 2019.

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BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

10.	STAFF COSTS
		2020	2019
		£	£
	Wages and salaries	344,512	345,013
	Social security costs	8,208	13,240
	Other pension costs	16,511	13,638
		369,231	371,891
	The average monthly number of employees during the year was as follows:
		2020	2019
	Teachers	46	46
	Office	3	3
		49	49
	The number of employees whose employee benefits (excluding employer	pension	costs) exceeded
	£60,000 was:
		2020	2019
	£60,001 - £70,000	-	1
	£80,001 - £90,000	1	-
		1	1
11.	TANGIBLE FIXED ASSETS
			Computer
			equipment
			£
	COST
	Additions		7,300
	DEPRECIATION
	Charge for year		2,430
	NET BOOK VALUE
	At 31 July 2020		4,870
	At 31 July 2019			-

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BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 15) Social security and other taxes NEST Teachers Pension Loan Accruals and deferred income 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 15) Loan 15. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank overdrafts Amounts falling due in more than five years: Repayable otherwise than by instalments: Bank loans more 5 yrs non-inst 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted fund fund £ £ Fixed assets 4,870 - Current assets 258,918 - Current liabilities (53,945) - Long term liabilities (50,000) - 159,843 -	2020 £ 203,000 2020 £ 4 1,842 278 3,491 45,000 3,330 53,945 2020 £ 50,000 - 50,000 2020 £ 4 50,000 2020 Total funds £ 4,870 258,918 (53,945) (50,000) 159,843	2019 £ 200,000 2019 £ - 1,082 401 2,671 20,000 3,720 27,874 2019 £ - 25,000 25,000 2019 £ - - 2019 Total funds £ - 231,463 (27,874) (25,000) 178,589

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BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

17. MOVEMENT IN FUNDS

At 1.8.19
£
Unrestricted funds
General fund
178,589
TOTAL FUNDS
178,589
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
523,403
Restricted funds
Restricted fund
80,631
TOTAL FUNDS
604,034
Comparatives for movement in funds
At 1.8.18
£
Unrestricted funds
General fund
7,925
TOTAL FUNDS
7,925
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
851,091
Restricted funds
Restricted fund
46,772
TOTAL FUNDS
897,863

Net
movement
At
in funds
31.7.20
£
£
(18,746)
159,843
(18,746)
159,843
Resources
Movement
expended
in funds
£
£
(542,149)
(18,746)
(80,631)
-
(622,780)
(18,746)
Net
movement
At
in funds
31.7.19
£
£
170,664
178,589
170,664
178,589
Resources
Movement
expended
in funds
£
£
(680,427)
170,664
(46,772)
-
(727,199)
170,664

Page 16

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2020

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2020.

Page 17