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2022-07-31-accounts

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 2022

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 2022

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 18

BEIS YAAKOV GIRLS SCHOOL LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2022

TRUSTEES J Leitner
S S Sinitsky
REGISTERED OFFICE First Floor
94 Stamford Hill
London
N16 6XS
PRINCIPAL ADDRESS 11 Amhurst Park
London
N16 5DH
REGISTERED COMPANY 07327670 (England and Wales)
NUMBER
REGISTERED CHARITY NUMBER 1140161
INDEPENDENT EXAMINER Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS
BANKERS Barclays Bank plc
278 Hoe Street
London
E17 9QE

Page 1

BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 July 2022.

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 an increase in income of close to 7% for the year; expenditure reduced by almost 10% for the year, ensuring that the deficit was kept to a minimum.

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 £87,249 (2021 - £94,874) of which £3,705 (2021 - 7,065) were restricted.

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 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 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.

Page 2

BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

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 13 September 2023 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 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 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.

E Meyer FCA BSc

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

13 September 2023

Page 4

BEIS YAAKOV GIRLS SCHOOL LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
233,877
Charitable activities
3
School fees
393,588
Total
627,465
EXPENDITURE ON
Raising funds
4
3,173
Charitable activities
5
School running costs
577,011
Grantmaking
26,457
Administrative costs
24,969
Total
631,610
NET INCOME/(EXPENDITURE)
(4,145)
RECONCILIATION OF FUNDS
Total funds brought forward
87,809
TOTAL FUNDS CARRIED FORWARD
83,664		 Restricted
fund
£
71,962
-
71,962
-
75,442
-
-
75,442
(3,480)
7,065
3,585		 2022
Total
funds
£
305,839
393,588
699,427
3,173
652,453
26,457
24,969
707,052
(7,625)
94,874
87,249		 2021
Total
funds
£
289,754
366,389
656,143
8,414
680,966
-
31,732
721,112
(64,969)
159,843
94,874

The notes form part of these financial statements

Page 5

BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

BALANCE SHEET 31 JULY 2022

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS/(LIABILITIES)
FUNDS
18
Unrestricted funds:
General fund
Restricted funds:
Restricted fund
TOTAL FUNDS		 2022
£
6,823
201,544
8,209
209,753
(91,648)
118,105
124,928
(37,679)
87,249
83,664
3,585
87,249		 2021
£
9,505
200,000
30,177
230,177
(96,305)
133,872
143,377
(48,503)
94,874
87,809
7,065
94,874

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 6

BEIS YAAKOV GIRLS SCHOOL LIMITED (REGISTERED NUMBER: 07327670)

BALANCE SHEET - continued 31 JULY 2022

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 13 September 2023 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 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Tax paid
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing 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		 2022
£
9,819
(21,513)
(11,694)
(4,960)
(4,960)
(5,310)
(5,310)
(21,964)
30,173
8,209		 2021
£
(14,824)
-
(14,824)
(9,420)
(9,420)
(1,497)
(1,497)
(25,741)
55,914
30,173

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 2022

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
2022 2021
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (7,625) (64,969)
Adjustments for:
Depreciation charges 7,642 4,785
Decrease in debtors 19,969 3,000
(Decrease)/increase in creditors (10,167) 42,360
Net cash provided by/(used in) operations 9,819 (14,824)
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2022 2021
£ £
Cash in hand 3,825 7,634
Notice deposits (less than 3 months) 4,384 22,543
Overdrafts included in bank loans and overdrafts falling due within one
year - (4)
Total cash and cash equivalents 8,209 30,173
3. ANALYSIS OF CHANGES IN NET DEBT
At 1.8.21 Cash flow At 31.7.22
£ £ £
Net cash
Cash at bank and in hand 30,177 (21,968) 8,209
Bank overdraft (4) 4 -
30,173 (21,964) 8,209
Debt
Debts falling due within 1 year - (5,514) (5,514)
Debts falling due after 1 year (48,503) 10,824 (37,679)
(48,503) 5,310 (43,193)
Total (18,330) (16,654) (34,984)

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 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.

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.

Plant and machinery - 25% on cost Computer equipment - 33% on cost

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.

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.

Page 10

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

1. ACCOUNTING POLICIES - continued

Fund accounting

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

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.

Going concern

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

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Unrestricted
funds
£
Donations
182,944
Grants
50,933
233,877		 Restricted
funds
£
-
71,962
71,962		 2022
Total
funds
£
182,944
122,895
305,839		 2021
Total
funds
£
133,149
156,605
289,754

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

Security grant
Job retention scheme
Local authority funding		 2022
£
27,727
-
95,168
122,895		 2021
£
32,039
61,702
62,864
156,605

Page 11

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

3. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
2022 2021
School Total
fees activities
£ £
Fee income 393,588 366,389

4. RAISING FUNDS

Raising donations and legacies

Unrestricted
funds
£
Advertising
2,828
Credit card charges
345
3,173
5.
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 6)
£
School running costs
648,619
Grantmaking
-
Administrative costs
24,969
673,588
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rent, rates and service charge
Insurance
Light & heat
Telephone
Books and stationery
Staff training
Special needs and therapy fees
Cleaning
Repairs and maintenance
Educational equipment
Outings and activities
Security
Carried forward		 Restricted
funds
£
-
-
-
Grant
funding of
activities
(see note
7)
£
-
26,457
-
26,457		 2022
Total
funds
£
2,828
345
3,173
Support
costs (see
note 8)
£
3,834
-
-
3,834
2022
£
316,258
131,101
3,042
13,234
2,412
15,868
1,366
33,308
12,120
20,944
4,666
7,474
30,127
591,920		 2021
Total
funds
£
7,761
653
8,414
Totals
£
652,453
26,457
24,969
703,879
2021
£
348,916
119,724
2,775
7,373
2,639
17,082
8,408
34,576
13,320
28,257
3,236
5,738
25,019
617,063

Page 12

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

6. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued

Brought forward
Food
Professional fees
Loan interest
Administrative expenses
Depreciation
GRANTS PAYABLE
Grantmaking
The total grants paid to institutions during the year was as follows:
Advancement of education		 2022
£
591,920
11,181
36,518
1,358
24,969
7,642
673,588
2022
£
26,457
2022
£
26,457
18,000
8,457
26,457		 2021
£
617,063
5,611
53,507
-
27,933
4,785		 2021
£
617,063
5,611
53,507
-
27,933
4,785
708,899
2021
£
-
2021
£
-
Tchabe Kollel Ltd
Others below £5,000

7. GRANTS PAYABLE

8. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
School running costs 3,834
Support costs, included in the above, are as follows:

Governance costs

Governance costs
2022 2021
School
running Total
costs activities
£ £
Independent examiner's fee 1,200 1,080
Independent examiner's other fees 2,280 2,040
General expenses 354 679
3,834 3,799

Page 13

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2022 2021
£ £
Depreciation - owned assets 7,642 4,785

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Teachers
Office
Cleaning		 2022
£
315,392
-
866
316,258
2022
53
2
2
57		 2021
£
334,462
7,036
7,418		 2021
£
334,462
7,036
7,418
348,916
2021
44
3
2
49

No employees received emoluments in excess of £60,000.

Page 14

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

12. TANGIBLE FIXED ASSETS

Plant and
Computer
machinery
equipment
£
£
COST
At 1 August 2021
9,420
7,300
Additions
-
4,960
At 31 July 2022
9,420
12,260
DEPRECIATION
At 1 August 2021
2,355
4,860
Charge for year
2,355
5,287
At 31 July 2022
4,710
10,147
NET BOOK VALUE
At 31 July 2022
4,710
2,113
At 31 July 2021
7,065
2,440
13.
DEBTORS
2022
£
Amounts falling due within one year:
Other debtors
175,000
Prepayments and accrued income
5,031
180,031
Amounts falling due after more than one year:
Tax
21,513
Aggregate amounts
201,544		 Totals
£
16,720
4,960
21,680
7,215
7,642
14,857
6,823
9,505
2021
£
200,000
-
200,000
-
200,000

Page 15

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 16)
Trade creditors
Social security and other taxes
NEST
Teachers Pension
Loan
Accruals and deferred income
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal		 2022
£
5,514
11,490
-
143
1,596
35,000
37,905
91,648
2022
£
37,679
2022
£
-
5,514
5,514
5,514
16,542
15,623		 2021
£
4
-
2,361
224
1,596
60,000
32,120
96,305
2021
£
48,503
2021
£
4
-
4
-
-
48,503

Page 16

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
fund
£
Fixed assets
(242)
Current assets
204,722
Current liabilities
(83,137)
Long term liabilities
(37,679)
83,664
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 2022
2021
Restricted
Total
Total
fund
funds
funds
£
£
£
7,065
6,823
9,505
5,031
209,753
230,177
(8,511)
(91,648)
(96,305)
-
(37,679)
(48,503)
3,585
87,249
94,874
Net
movement
At
At 1.8.21
in funds
31.7.22
£
£
£
87,809
(4,145)
83,664
7,065
(3,480)
3,585
94,874
(7,625)
87,249
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
627,465
(631,610)
(4,145)
71,962
(75,442)
(3,480)
699,427
(707,052)
(7,625)

18. MOVEMENT IN FUNDS

Page 17

BEIS YAAKOV GIRLS SCHOOL LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.8.20 in funds 31.7.21
£ £ £
Unrestricted funds
General fund
159,843		 (72,034) 87,809
Restricted funds
Restricted fund
-		 7,065 7,065
TOTAL FUNDS
159,843		 (64,969) 94,874
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund
624,104		 (696,138) (72,034)
Restricted funds
Restricted fund
32,039		 (24,974) 7,065
TOTAL FUNDS
656,143		 (721,112) (64,969)

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2022.

Page 18