Registered Clwity No. I 151459 Registered Company No. 8203599 1¥40AM EDUCATIONAL TRUST REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 NOAM EDUCATIONAL TRUST REPORT AND AccouNrs FOR THE YEAR ENDED 31 AUGUST 2024 CONTENTS PAge Charity inforntstion Trustees. atmual report Indq)endent auditor's report Statement of fllwicial activities Balance sheet Statement of cash flow 10 Notes to the accounts NOAM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Registered Charity Number 1151459 Company Registration Number 8203599 Trustees Dr J Rees Mr R Denton Mrs H Cohen Mr D Goldberg Mr G Hollander- resigned J 111112024 Mrs S Richman- resigned 11111/2024 S Stanton - appointed 11111/2024 Registered Office Clo 75 Maygrove Road West Hampstead JA)ndon NW6 2EG Independent Auditor Goldwins Limited 75 Maygrove Road Wesl Hampstead London NW6 2EG NOAM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Introduetlon The trwstees present their report and accounts for the year ended 31 August 2024. Although they arc referred to as Tniste&8, they are tr£lmically directors ofthe charitable comp2ny. regigtered at Companies Hou8e in Englan Thef￿￿￿la1 statements havebeen prwed in accordance with Accounting and Reportin8 by Charities: Statement of Recomm¢nd¢d Practice applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102- effective I January 2015- (Clwiti&8 SORP FRS 102) and thc Companies Act 2006. Name, reglstered office JlDd constltution of the charity The full name of the chaTity is Noam Educational Tn The legal details are: Date of incorporation Company registrdtion number Charity registration number 6 September 2012 8203599 1151459 Objectlves and Activiti The objects of the charity are the advancement of edu¢ation for the benefIt ofthe public. in particular but without limitation the provision and maintenance of a school or schools And by ancillary or incidental educational activities for the bencfit of the community. in p8rti¢ular but not ex¢lusively for Jewisb children. The charity was 0ri8inally established by the Same individuals who founded Noam Primary School ('Trloam") in 1999 as an Orthodox Jewish primary school in North West London. In March 2021, the school. which is now Voluntary Aided, changed its name to Shalom Noam Primary School ("Shalom Noam,?. The aim of the tn￿tee$ is to promote excellence in Jewish oaucation that is founded upon Orthodox Jewish law, heritage and culture. Currently, the activities of the charity remain focussed on (l ) raising additional funds to support the operational costs of Shalom Noam, (2) 5UPPOrting other relevant charitable institutions and to provide grants lo other educational projects. The charity also has a fornlal role as the foundation body of Shalom Noam and is responsible for appointing a majority of thc governors of Shalom Noam. Fundraislng activitleg Noam Educational Tntst's fi¥ndraisin8 activities involve primarily seeking donations from a spectrum of individuals and organisations who wish to suptK)rt Jewish education in general. NOAM EDUCATIOIYAL TRUST REPORT OF THE TRUSTEES FOR TEIE YEAR ENDED 31 AUGUST 2024 The Tn￿teeS expect that most of the raised to support Shalom Noam will come from families who have children at SI￿10￿ Noam which in turn helps support the educationprovid¢d at Shalom Noam that is outside the remit of Voluntary ￿"ded status. Structure, Goyerllance and Management The charity is constituted as a company limited by guarantee. and is therefore governed by its memorandum and articles of association. Thc Tn￿tee5 have to date administered the day-￿￿aY affairs of the ¢barity. which have bcen minimal. All decisions to award charitable grants are made by the trustees following a consideration of the grant request. In the ¢as¢ of the constru¢tton of the new building, which will be leased to Noam school. the trustees have appointed expert professional advisors, includmg architects and project managers to assist with the running of the project. None of the tll￿teeS have any beneficial interest in the clwity. As the charity s¢eks to develop its a¢tiviti¢s. it is th¢ intention of the trustees to appoint a number of new trustees. This 1$ intended to bring additional relevant experience to the ttustee body, including in the areas of ¢du￿tIon, fjnance and charities. In appointing new tsustees. the tn￿teeS will apply suitable recruitment, training and inducts'on procedur¢s. The trustees have identified and reviewed the major risks to which the Charity 18 exposed to, in particular thos¢ relat￿ to th¢ operations and finaD¢¢ of th¢ Charity, and ar¢ satisfied that Systems are in place to manage these risk8. The Trustees are committed to ensuring that the Tntst follows best prnctice for governance, and bave accordingly adopted the Charity Governance Code for Larget Charities. While the Trust bas minimal operational a¢tivitie4 the Trustees seek to apply the Code on a proportionate basis. Pollcles on reyerves It is the policy of the trustees to match the charity's expenditure obligations and plans with funding from both statutory and other sources. The trnstees contitiuously review the funding prospects and expenditure levels of the charity. All the directors of the company are also trustees of the charity. and their responsibilities include all the responsibklities of directors under the Companies Acts and of trustees under the Cl)arities Acts. The directorsltrust¢¢s are all members of th¢ charity. NOAM EDUCATIONAL TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Statement of trustees, responsfibilitAes The trnstees (who are also direc￿ of Noam Edue4tiona] Tn￿t for the purposes of company law) are responsible for preparin8 the Trustees. Report (incorporating th¢ dIT￿torS, T¢POrt) and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The FinancialReportingSrandardapplicable in ihe UKandRepublic ofIreland (United Kmgdom Generally Accq)ted Accountin8 Practice). Company law requires the tntstecs to prepare financial stat¢ments for each financial year which give true and fair view of th¢ ststc of affatrs of the cbaritable company and of the income and ¢xpenditure of the charitsble company forthat year. In prq)aring these financial staten}en￿ the trustees are required to.. •select suitable accounting policies and then apply them consistently9 •observe the methods and prin¢iples in the Charities SOIiP' ake judgments and accounting estimates that are reasonable and prudent. •state whether applicable UK Accounting Standards have been followe4 subject to any material departures disclosed and explained in the financial statements, and repare th¢ fman¢ial statem¢nts on the going Concern basis unless it is inappropriate to presume that the charitsble company will continue ia business. The trnstees are responsible for maintainitig proper accounting records which disclose with reasonable accurn¢y at any time the fuwicial posttion of the charitsble company and enable them to ensur¢ that the financial statements comply with the Companies Act 2LK)6. They are also responsible for safeguarding the assets of the charitable compatty and hence fortsking re&sonable steps forthe prevention and detection of fraud and other irregularities. In so far as thc trustccs are awarc: .there is no relevant audit inforniation of which the charitsble companyl auditors are unaw8re' and •the trustees have tsken ail steps that they ought to have tsken to make themselves aware of any relevant audit inf0m￿tIOn and to estsblish that the audi￿r$ are aware of that Infom￿tiOn. The trustees are reS￿]ble for the mainterwice and integrity of the corporate and financxal inforniation included on the ¢haritable company's website. Ixgislation in the United Kingdom governing the preparation and dissemination of financial ststements may differ from legislation in other jurisdictions. Thisr ort was approv y the Board of TrustKs on ..... es Trny INDEPENDENf AUDITORPS REPORT TO THE MEMB￿ OF NOAM EDUCATIONAL TRUST OpiDion We have audited the fmancial statements of Noam Educational Trust for the year ended 31 August 2024 which comprise the Statement ofFillallciaE Activities. theBalallce SbeeL Statement of cash flows and the related notes. The financial reportin8 framework that h&$ been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of IrelaDd (Unit￿1 Kingdom Generally Accepted Accounting Practice). Opinion on fin2DCiAI ststements In our opinion the ftnancial statements: give atrue and fair view of the state ofthe ch8ritable Lx)mp8ny's affairs &8 at 31 August 2024 and of its income and expenditure for the year then ended: have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Aet 2006. Basls for oplnlon We conducted our audit ID accordance with International Standards 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 fmancial statements section of our report. We are independenl of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethi￿ Standard and we havc fulfilled our other ethical responsibilities in accordance with these wuirements. We believe that the audil evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslong relatlDg to golng concern In auditing the financial Ststernen￿ we have concluded that the tn￿tee$. useofthe going fA)ncern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornie(L we have not identifiol any material un¢erlaititie8 relating to events or conditions thaL individually or LX)Ilectivety. n]ay casl si￿lficant doubt on the charAty'S ability to continue as a going concern fora peri(Kl of at least twelve months from when the financial statements are authorised for issue. Our respon8ibiliti¢s and the ￿SpOnsibl11ttC8 ofth¢ dir￿torS with respect kn going concern are described in the relevant sections of thi8 report. Other inforn)atioll The trust¢es are responsible for the other infomwtion. The other inforniation cornpriscs th¢ infonnation included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the finallci￿ statements does not cover the other infOrn￿tion an￿ except to the extent otherwise cxplicitty stated in our repo¢ we do Dot express any forni of assutance Conclusion thereon. In cotmection with our audtt ofthe fmancial statements. ourresponsibility is to read the other infomiation , in doing so, consider whcth¢r the other iDforn]ation is Djaterially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appe￿S to be materially misstated. If w¢ identify such material inconsistencies or apparent material misstatements, we are required to detern)ine INDEPENDENT AUDITOR￿ REPORT TO THE MEMBERS OF NOAM EDUCATIONAL TRUST whether there is a material misstatement in th¢ financial statements ora mafrrial misstatement of the other inforn]ation. If. based on the work we have perfornied. we ¢on¢lude that there is a material misstatement of this other 1nforniati0￿ we are required to report that facL We have nothing to re￿rt in this regar