Register&J Charity No. 1151459 Regisier¢d Company No. 8203599 IYOAM EDUCATIONAL TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023
NOAM EDUCATIONAL TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 CONTENTS Page Charity inforn]ation Trnstees, annual r¢port Independent auditor s report Statement of financial activities Balance sheet Siatement of cash flow 10 Notes to the accounts
NOAM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 Register¢d Charity Number 1151459 Company Registration Nurnber 8203599 Trustees DrJR Mr R Denton Mrs H Cohen Mr D Goldberg Mr G Hollander Mrs S Richman Registered Office Clo 75 Maygrove Road West Hampstead London NW6 2EG Independent Auoitor Goldwins Limited 75 May&yrove Road W¢st Hampst¢ad tA)ndon NW6 2EG
NOAM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023 IDtry)duction The trustees present their report and accounts for the year ended 31 August 2023. Although they are referred to as Trustees, theyare technically directors of the charitable company, registered at Companies House in England. Thc fmancial slalcmcnts havc been prepared in accordance with Accounting and Reporting by Charities.. Slaleinenl of Recommended Practice applicable to charitics preparing their coUnt8 in a¢¢ordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102- effective I January 2015- (Charities SORP FRS 102) and the Companies Act 2006. regiytered office ind eonstlthdon of the charlty The full namc of thc chaTity is Noam Educational Tryst. The legal d&ails are: Dale of in¢oTporation Company regislralion numlxr Charity registration number 6 September 2012 8203599 1151459 Objectives and Activities The objects of th¢ charity ar¢ the advan¢¢mentof cducalion for th¢benefit of the public, in particular but without limilation the provision and maintcnance of a school or schools and by ancillary or incidental educatioThal activitics for the benefit of the community, in particular but not exclusively for Jewish ¢liildren: Thc charity was originally established by the same individuals who founded Noam Primary School ("Noam') in 1999 as an Orthodox Jewish primary s¢hool in North West London. In March 2021, the school, which is now Voluntary Aided, changed its name to Shalom NoaTn Primary School ("Shalom Noam,). Th¢ aim of the trustees is to support the exccllcnt work which Noam does to promote excellence in ¢atIOn generally and in particular lo promote excellence in Jewish education that is founded upon Orthodox Jewish law. heritage and culture. Currently, the activities of the charity remain focussed on (l) raising additional ndS to support Ihe operational costs of Shalom Noam. (2) suprA)rting other charitable institutions and to provide grants to other educational projects. Thc charity also has a fonnal role as the foundation body ofshalom Noam and is rcsponsiblc for appointing a majority of the governors of Shalom Noam. Fundr*isillg aetivitles Noavn Educational Trnsl's fundraising activities involve primarily seeking donations from a spectnim of individuals and organisations who ivish to support Jewish cducation in general.
NOAM EDUCATIONAL TRUST REPORT OF THE TRUSTEES CONTINUED FOR THE YEAR ENDED 31 AUGUST 2023 The wovision of a new school building for Shalom Noam was a particular focus of the trustees in earlier years although we are delighted to report that duc to the huge gener08ily of the Community, the building has now been paid for in full. The fmal tranche was raised with a successfiil croWdnding campaign in December 2020. In ihe current year, the Trnee8 expect that most of the fimds raised lo support Shalom Noam will come from familics who have children at Shalom Noam. The Trusteeshaveconsidered theposition of the ability IoTaise funds following the Covid 19 Worldwide pandemic. Whtlsl the worldwide and local economic situation is stilluncertain, theTrustees are confident that they will able to raise the fimds rquir¢d support Ih¢ir budget ¢xpeThditure ID the year ah¢a Structur4 Gov¢rn8n¢e and MAnagemeDt Thc rharity is constituted as a Company limited by guardntce, and is therefore governed by ils memorandum and articl¢s of association. The Trustees have to dat¢ administered the day-to-day affaiTS of tlie charity, which have been minimal. All decisions to award charitablc gThnts are made by the trustees following a consideration of the grant r¢qu¢sl. In the case of thc construction of the new building, which will be lellsed io Noam school, the trustees have appointed expert profcssional advisors. including ar¢hite¢ls and proje¢l manag¢rs to assist with thc nmning of the project. None of the trnstees have any beneficial interest in the charily. As the charity seeks lo develop its activiti¢s. it is the intention of the trustees to appoint a llumber of new trustees. This is intended lo bring additional r¢levant experien¢¢ to th¢ trustee body, including in the arcas of education, fJnan¢e and Charities. In apFX)inting new trustecs, the trustccs will apply 5uilablc recruitment. training and induclion PTocaur¢s. The trust¢¢s have identified and reviewed thc major risks to which the charity is exposed to, in particular those related lo the operations and fanCe of the charity, and are Satisfi that systems are in place to manage these risks. The Trustees are committed to cnsurin¥ that the Trusl follows best practice for gov¢rnance. and h&ve accordingly adopted the Charily Governance Code for Larger Charities. While the Trust has minimal operational activities, the Trustees seek lo apply the Code on a proportAonal¢ basis. Policie5 on reserves It is the policy of the trustees lo match th¢ charity's expenditure obligations and plans with fidUlg from both statytory and other sources. The ITUSt¢es continuously Teview the funding prospecls and ¢xpendi¢ur¢ l¢vel8 orth¢ charily. All the directors of Ilie coinpany arc a150 trustees of Ihe ¢harity, and their responsibilities include all Ib¢ Tesponsibilities of directors under the Companies Acts and of trust¢¢s ut]d¢r the Charities Acts. The dircctorsltrnstees are all members of the charity.
AM EDUCATIONAL TRUST REPORT OF THE TRUSTEFS CONTINUED EIWED 31 A GUST 202 Statement of trusfw. respon$ibilitKs The tnteeS (who aye also dir¢¢tors of Noam Educational Tht for the purposes of company law) responsible for preparing the Tntsteeg R¢w)rt {illCOTPOTaling the directOTS' report) and the financial statements in accordance with applicable law atjd United Kingdom Accounting Standard4 in¢luding Fitwi¢ial R¢porting Stand0 102 IhEFinonc¥olRep0rtingSropard0pPII¢UbIe th rhe UKandR8public oflrelard (Unite¥A Ktn8dom GenallY Aepted Accounting Practice). Cornpony law requires the tmstee& to pr¢wr fitkanciaj statements for each fiTtawial year which give trne and fair view ofthe stats of affAirs of the Charitable company and of th¢ and expenditur¢ of the chaTitable company forthAt yt4r. JnprepaTing these financial StateMtS, trustees are required lo.. ¢l¢¢t suitsble accounting p)licies aud then appiy thctll wnsistently; •obs¢N¢ the methnds and principle5 in the Charities SOR. •make judgments and tecouRting eytimates that ftre ffe&sonable amd pn •state whctber appli¢4bl¢ UK Accounting Standarth have been frillowel 8ubie¢t to any rn&tsriai depmrtiires disclosed explaiJJ¢d in the finaDcial Statemtr. and 'pTeparethe fi¢181 stktementson thegoing¢oncern FAsisunless it is inappropTi11ttQ PTESuJne that the ch&itoble ¢ompatty will contitwe in business. Th¢ trustees are responsible forJwTntsining proper xcountiDg T¢Q)Tds which disclose with re&8on4ble UTa¢y at any lime the fu)ancial position of the Gh#ritabl¢ wmpany and enable them io ensure th&t th¢ finJncia] statements comply withthe Compani¢sArt2006. Th¢yaalsOr&S)s1?$1e forsafeguardingthe assetsof th¢ Charitable company andhence fortgknngtt&4onable st¢p3 fortheprev¢ntion8ndd¢ttrtioThof fraud and other IrregulLties. so far &$ the tnJst¢es are &w8re: •the is no relevant audit infonnatioll of which the charitable compan8 Audito Unawa., and •th¢truste¢s have taken all steps that th¢y owght ¢oknv¢tskento make themselves aware of any ffl¢vp dit irtformAtion to establish tha¢th¢ auditDTh awate of that infornialiotL Thetru5tees ore responsible f0TtheMeinanCe ond integrity ofth¢ Conr¥I¢0d f¥4n¢]¥] infonnation included on the eharitabl¢ ¢ornpans welk8ite. [lS18t10n in th¢ United Kingdom governing the PTepHration and dissemination of fujancial 8t&tements may diff legislwion oth¢rjuri8di¢tiims. by the Bo4Td of TnL8t¢¢8 on ... Trn¥ts¢
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NOAM EDUCATIONAL TRUST Opinion We have audited the fanCIal statements of Noam Educational Tt for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notc& Thc fmancial reporting framework that has been applled in their preparation is applicabl¢ law and United Kingdom Accountin¥ Standards, including Financial Reporting Standard 102.. The Financial Reportillg Standard applicable in the UK and Republi¢ of Ireland (United Kingdom Generally AccepteAJ Accounting Practice). Opinion on financial statement5 tn our opinion thc fanCial stslcmenis: give a true alld fair view ofihe stateof the charilablecompany's affairs as at31 Au¥ust2023 and of its income and expenditure for th¢ year then ended.. have been properly prepared in accordance with United Kingdom Genttally Accq)ted Accounting Practice- and have been prepared in accordaDCe with the rcquircmcnts of th¢ Companies Act 2006. Basis for opinion We conducted our audil in accord8ll¢e with International Stsndards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the fJnan¢ial statements s¢¢tion of our rewrt. W¢ arc independent of thc Charity in accordan¢¢ with the ¢thi¢al requirements that are relevant to our audit of the t-llLancial statements in ihe UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical r¢sponsAbAlities in accordance with these requirements. We believe lliat the audit evidencc wc havc obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the f]nancial statemcnt& we have concluded that the irnstees, useofthegoing concernbasisof accounting ID thc preparation of the fmancial statemthls is appropriate. Based on the work wehave perfonned, we havenol identified anymal¢rial unc¢rtaintl¢S T¢latingto ents or conditions that. individually or ¢ollectively, may cast significant doubt on the charityPs ability to continue as a going concern for a period of at l¢as¢ twelve months from when th¢ fjnancial slat¢m¢nts ar¢ authorised for Issue. Ourr¢sponsibilities and the responsibilities of the directors with respectto going concern aredescribed in the relevant scctions of this report. Other Infomatlon The trustees are responsible for th¢ other inforniation. The othu inforniation comprises the infontLation includcd in the annual report other than Ihe financial statements and our auditor's report thereon. Our opinion on the financial statements does nol cover the olher infonnation and, except to the exient oiherwise expliciily slal¢d in our Teport. w¢ do not ¢xpr¢ss any form of assurancc conclusion thcrcon. In connection with our audit of thc financial statement4 ourresponsibilily is to read theotherinforniation and, in doing so, Consider whether the other information is materially inconsistait with the fu)an¢ial statements or our knowledge obtained in the audil or othenvise appears to be materially misslaled. If we identify such material incon$isten¢ies or apparent material misststements, we are required to detennine
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NOAM EDUCATIONAL TRUST whetherthere is a malerial misstatemcnl in the financial slat¢menlsora Material misstatementof theother information. If, based on the work we have perfonned, we conclude ihal there is a material misstatanent ot thi5 Other information, wc are required to report thal fa¢t. We have nothing to report in this regard. Oplnlon on other matter prescribed by the Companies Aet 2006 In our opinion. based on th¢ work undertaken in the course of the audit: the infornialion given in the tNstees' r¢port (in¢oryorating the directOTS' ieport) for Ihc financial year for whi¢h the fanCIal statements are prepared is consistent with the financial statemts. the trnslees, report (incorporating the directors, reFKlrt) hav¢ been prq)ared in accordance with applicable legal requirement& Matter5 on which we requlred to report by exception tn the light of the knowledge and understanding of the Charity and its environment obtsin¢d in th¢¢ourse of th¢ audit. we have not identified material misststements in the TNslees' Annual Report. We hav¢ nothing to report in respect of the following malters Whe the Compantes A¢t 2006 rquires us to report lo you if. in our opinion." adequate accounting rccords have not bea) kept or returns adequate for our audit have not been T¢G¢ived from branches not visited by us. or the fmancial stat¢menls are not in agrccmcttt with the ac¢ounting records and returns. or certain disClosuS of trustres, remun¢ration sp¢cified by law are not made. or we have not received all th¢ infonnation and ¢xplanations we rcquire for our audit. Re$ponslbllitles of the trustees As explained more fully in the Trustees. Responsibilities Statement. the tNst¢es (who ar¢ also the dirtorS of the charilable company for thepurposes of company law) are restM)nsible forih¢ prepardtion of the fu)ancial slatem¢nts and for being satisfied that they giv¢ a trne aiid fair view and for such intcrnal Control as they deterniinc is necessary to enable thepreparation of fmancial slatements that are free from material rnisstalcmenL whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charity's abilily to eonlinue as a going concern, disclosin& as applicable, mattcrs related to going concern and using the goin¥ concem basis ol accounting unless the trustees either int¢nd to liquidat¢ the Charity or lo c¢as¢ operations, or hav¢ no realistic alternative but lo do 50. Our respon51bilitie5 for the audit of tbe finanelll stAt¢ments Our objectives are to obtain reasonable assurance about whdher the financial statement5 as a whole are fre¢ from material misstst¢mcnl, whdher du¢ lo fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assuran¢¢ is a high level ot assurance, bul is not a guaralltee thai an audit conducted in accordance with ISAS (UK) will always detect a material misslatemeni when it exists. Misstalemcnls Can arise from fraud or eor and are considcrcd material if. individually or in th¢ aggregate. they could reasonably be expected lo influence the economic decisions ofusers taken on th¢ basis of thes¢ fmancial statements.
INDEPEI¥DENT AUDITOR'S REPORT TO THE MEMBERS OF NOAM EDUCATIONAL TRUST Irregularities, including fraud, are instances of non-compliance with laws and Tegulations. We design procedures in line with our responsibililies, outlined above, to deteth material misstatements inrespt of irregularities, illeluding fraud. The exlenl lo which our procedures are capable of detecting Irregularities, including fraud are set out below. ]n identifying and assessing risks of D]atcrial misslatcmenl in rc5PCCt of irregularities, including fraud and non-compliance with laws atLd regulations, our procedures included the following.. Weenquired of management, which included obtaining andreviewing suprK)rtingdocumentatio concerning the charity's policies and procedures relatin¥ to-. D¢te¢ting. evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance" Detecting of the risks of fraud and responding wheth¢r they have knowledge of any actual or suspected fraud; The intcrnal controls in place to mitigate risks related to fraud or non-compliance with laws and regulations. We obtsined an under5tandingof the legal and regulatory framework that the charity operatcs in, foeusing on those laws and regulations that had a material effect on the fmancial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience. We perfonned analyttcal procedures to detect any unusual orunexpected relationships that may indicate risks of mat¢rial Jnisstatcmcnt duc to fraud. Becausc of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also grealer regarding irregularities CurrIng due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of OUT responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: Iwww.fr¢.org.uklauditorsr¢sponsibilities]. This description fornis part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in a¢cordan¢e with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest exlenl permitl¢d by law. we do not ac¢ept or assum¢ r¢4)onsibility lo anyoncothcr than the charity and ihe Charity's members as a body. for our audit worL for thisreport. or forth¢opinions we have fonned. Anthony Epton (Senior Statutory Auditor) for And on behalf of Goldwins Limlted Statutory Auditor Cbartered Aceountants 75 Mavgrove Road West Han)psteod London NW6 2EG 29 May 2024
NOAM EDUCATIONAL TRUST STATEMENT OF FINANCIAL AcrJvrriES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 2023 Total funds 2022 Totsl funds Unrestrlrted funds Restrlded funds Note Income from: Donations 765,918 765,918 643,459 Investment income 12,500 12,500 Total Income 778,418 778,418 643,459 Expenditure on: Charitablc activities 655,355 655JS5 467,074 Total expenditure 655,355 655J55 467,074 Net income for tbe year 123,063 123,063 176,385 Trdnsf¢rs between fLdS Y4et movemen¢ In funds 123.063 123.063 176,385 RecoD¢lliglloD of funds: Tolal funds broughi foTward 589,592 5.828,636 6,418,228 6,241,843 Total funds carrfied forward 712.655 5,828,636 6,541291 6,418.228 All of the above results are derived from conlinuing lIvitIes. There were no other recognised gains or losses other than those staia atrt)ve. The attached noles forni part of thcse fmancial statcment&
NOAM EDUCATIONAL TRUST BALANCE SHEET AS AT 31 AUGUST 2023 2023 2022 Note Fix¢d AsJ¢ts T8ngtble assets S837.865 5.851.268 Curremt Awts CBsh at bank and in h8ThJ 611,395 Credits)ts.' amouttts f811iti8 due within 4)ne ye4T 44,435 Ne¢ cthrrent *sstts 26 Net asjets 41391 418.228 Trtal Restricted fimds 8,636 5.828,636 Ullrestricted thd8 712ffi55 589.592 541.291 6.418,228 The fuwi¢ial S¢atem¢nts haveb¢¢nprepatryJ in accoTd8mce withtheswialFYovi5ions forsmall compani underPart 15 of the Companies Act 20 Approvedbyth¢IntwOo.................... and signed on their behalf by: Dr J Rees Tntte Compny Regtstrailith Nth K03599 Th¢ 8tt4¢hed notes fonn iTrtegral rthrt ofth¢se acGounts,
NOAM EDUCATIONAL TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Note Cash flows from operatlng actlvities: Nel cash provided by / (used in) operating activities 96,631 231,899 Cash flow$ from investing 4Ctlvltles." Sal&1 (purchase) of fixed assets SaleJ Ipurchase) of inv¢slm¢nts (50,109) C8$h provided by l {used in) Investing #etivities (50,109) Cash flows from financing activities: Repayments of boTrowitig Cash intlows from new borrowing Cash provided by / (used ill) tIDan¢ing adlvltles Change in cash and cash equivalents In the year 96.631 181,790 Cash and cash equivalents at the beginntng of the year 611395 429.605 Cash and cash equivalents at the end of the year 708,026 611.395 io
NOAM EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUCUST 2023 Accountittg policies Bttsis of preparation The financial ststements have been prq)ared in accordance with Accounting and Reporting by Charities= Statement of Recoinmendcd Practiccapplicablcto charities preparingtheiraccounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102- effective l January 2015)- (Charities SORP FRS 102) and the Companies Act 2(. lThe Charitable company nleets the defmition ora public ixnefit entity dWFRs 102. Assetsand liabilities are initially recognised at historical cost or transaction valueunl¢ss oihenvise staj in the relevanl accounting policy OT note. b) Coing concern The trustees consider that there are no material uncertaintieg about the charitsble company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying atnounts of assets and liabilities wilhin the next reporting period. Income Income is recognised when the charity has entitlement to the funds, any perforniance conditions attached to the income have been met, it is probablc that the in¢ome will be rereived ]d that the amount can be measured reliably. Income from gov¢rnm¢nt and other grants. wheth¢r 'capital' ants OT 'Tev¢nue' grants. is recognised when the charityhas entitlement to the fvnds, any perfornianceconditions attached to the grdnts have been mel. it is probable thai the in¢omc will be rcceived and the amount ¢an b¢ measured reliably alld is not defTed. Income received in advance for the PTOVi5LOll of specified service is deferred until the eriteria for income recognition are met. Interest re¢elv&ble Tnleresl on ndS held on deposit is included when receivable and the amount can be measured reliably by the ¢harily: Ihis is nomially upon nolificalion of the interesl paid or payable by the bank. Fund a¢¢ounting Unrestricted funds are available to spend on a¢tivilies that furtber any ofthepurposes ofcharity. Designated funds are unrestricted funds of the charity which the trustees have decided al their discretion to sel aside to use for a specific puTpose. R¢slricted funds ar¢ donations which th¢ doTJor has specified aTe to be solely used for particular areas of the charity's work or for SpifiC projccts being undertaken by the charity. Expendlture Expenditure is recognis¢d once there isa legal or constructive obligationto mak¢ a paymentto a third party, it isprobabl¢ that seiil¢m¢nl will be required and the amount of the obligation Lan be measured reliably.
NOAM EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policie8 (continued) Fixed assets and depreciation Depreciation is calculated so as to write off the cost oran asseL less its estimated residual value. over the use1 economic life. A regular impairn]ent review is undertaken. 11)ere is no depreciation on freehold land. Th¢ building is also not depreciatul as trustees consider it to be an appreciating a&set. Fixtures and fittings- 250/0 RB Cornputer equiprnent- 200/0 SL h) Cash at bank #nd In hand Cash at bank attd cash in l)and includes cash and short tem highly liquid invesiments with short matUTlty of tbrcc Tnollths or Icss fium the date of acquisition or opening of lh¢ deposit or similar account. 12
NOAM EDUCATIONAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 Total Fllnds 2023 Total Funds 2022 2 Analyses of expendlture Charltsble ActlvStles Insurance Other donations Donations to Volunlary Aided Shalom Noam Primary School Grant expenditure Audit fees Professional fees Bookkeeping Bank ¢harg¢s Depreciation Sundry 5,234 2,550 547,551 76,675 4.200 500 432.557 4,085 1,920 2,259 210 15,987 5,356 2,430 2.562 108 13,403 442 655,355 467,074 Total expcnditure 655,355 467.074 Of the total expenditure £655,355 was unrcstiictcd (2022.. £461.718) and £Nil was r¢stri¢ted {2022.' £5,356). Tanglble fixed *88ets Freehold Land & PTopeTty Fixthres And Fltting$ ct¢ Totsl Cost At I September 2022 5,797,650 75.770 5,873.420 Additions At 31 August 2023 5,797,650 75,770 5,873,420 Depreclatio At I Seplember 2022 22,152 22.152 Charge for the y¢ar At 31 Augllst 2023 13.403 35,555 13,403 35,555 Net book value At 31 August 2023 5.797,650 40,215 5 837,865 Ai 31 August 2022 5 797 650 5.851.268 Freehold land and property include land purchased at East Roa Buml Oak, HA8 OAJ. Theland was purchased to purposely build a school whicli is being used by The Shalom Noam Primary School. The as1 is used for ¢haritabl¢ purposes. 13
IYOAM EDUCATIONAL TRUST IYOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 4 Creditors: amounts falling due wlthln one ye*r 2023 2022 Trade Creditors A¢crna18 Other creditors 34.197 4.085 6.153 4.600 5 Analysis of net assets between funds Totsl funds Unrestrleted Restrleted Tangible fixed assets Nel currenl assels 9.229 703.426 5,828,636 5,837,865 703,420 Net assets at the end of the year 712.655 5,828 636 Sa Analysis of net assets between funds {prlor year) Tot¥41 funds UDre5trirted Restricted Tallgible fixed assets Nei Current assets 34,122 555,470 5,817,146 11.490 5.851,268 566.960 Net assets at the end of the year 589 592 5 828 636 6418 228 14
NOAM EDUCATIOIYAL TRUST NOTES TO THE ACCOUIYTS FOR THE YEAR ENDED 31 AUGUST 2023 6 Movements in funds At the start of the yer At the end of the year Income Expellditsre Transfers Restricted funds: Building tund 5,828,636 W8,636 TotAI restricted funds 5,828,636 5,828,636 Total unrestricted fund$ 589.592 778,418 (655,355) 712 655 Tol1 funds 6,418,228 778,418 (655,355) 6,541,291 Purposes of restricted funds The provision of a new school building and fixtures for Th¢ Shalom Noam Primary School. Movement5 in funds (prior year) Atthe start of the year At the end of the year Income Expenditure Trnnsfers Restricted funds: Building fund 5,817,146 16,846 (5,356) 5,828,636 Total restricted fvnds 5,817.146 16.846 5.356 5 828,636 Tot41 unrestricted fund$ 424,697 626,613 (461,718) 589,592 Total funds 6.241,843 643,459 (467.074) 6.418,228 Puryoses of restri¢ted funds Thc provision of a new school building for The Shalom Noam Primary School. Transfers of ndS occw when there As a shortage of Unrestrict funds and approaches are made to donors of restricted funds to release their restrictions. Is
IYOAM EDUCATIOIYAL TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 Re¢on¢Sll4tlon of net income l{expenditure) to net cash flow from operating Activitie5 2023 2022 Net income /(expenditure) for tbe reporting period (as per the statement of flnAncE41 activities) 123,063 176,385 Dcprcciation Increa8cl {dreaSe> in creditors 13.403 (39035) 15,987 39.527 Net cash provlded by / (used In) operatlng Actlvhles 96,631 231,899 Analysis of ¢q$h aDd cash eqyivAlent All At31 September 2022 Cash flow August 2023 Cash at bank and in hand 611.395 96,631 708,026 Total cash and cash equivalent 611,395 96,631 708,026 Emoluments of the trustees The trustees did not rcGcive any mnuneration during the yeaT (2022: Nil). There were no employees in the year (2022.. none). Therewere no employee benerItpanentS to key managemenl personnel in the year (2022: Nil). io Related party trAnsACtlons The directors of The Noam Primary School Limited. which is the company through which the school operated prior lo bxoming Voluntary Aided, are also trustees of this company, Noatn Educational Trust. During the year £547,551 {2022.. £432,557) has been donaied to ihe new Voluntary Aided Shalom Noam Primary School. li Share c*plt&l The charily is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. There were six mctnbers at 31 August 2023. 16