2023-07-31-accounts

COMPANY REGISTRATION NUMBER: 9110551 CHARITY REGISTRATION NUMBER: 1158815

Manchester Mesivta Jewish Grammar School Company Limited by Guarantee

Financial Statements

31 July 2023

HAFFNER HOFF LTD

Accountants & statutory auditor 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Financial Statements

Year ended 31 July 2023

	Page
Trustees' annual report (incorporating the director's report)	1
Independent auditor's report to the trustees	7
Statement of financial activities (including income and
expenditure account)	13
Statement of financial position	14
Statement of cash flows	15
Notes to the financial statements	16

Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 July 2023

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 2023.

Reference and administrative details

Registered charity name	Manchester Mesivta Jewish Grammar School
Charity registration number	1158815
Company registration number	9110551
Principal office and registered	2nd Floor - Parkgates
office	Bury New Road
	Prestwich
	Manchester
	M25 0TL
The trustees
	H Ehrentreu
	S J Fogal
	M Haffner
Company secretary	H Ehrentreu
Auditor	Haffner Hoff Ltd
	Accountants & statutory auditor
	2nd Floor - Parkgates
	Bury New Road
	Prestwich
	Manchester
	M25 0TL
Bankers	Barclays Bank PLC
	Leicester
	LE87 2BB

- 1 -

Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2023

Structure, governance and management

Manchester Mesivta Jewish Grammar School is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 01 July 2014 as a company and the company number is 9110551. It was registered as a charity on 08 October 2014 with a charity number 1158815.

Organisation

A committee of governors including trustees is responsible for the control and direction of the charity. The day to day running of the charity is carried out by the employed headmaster and teachers.

Risk review

The trustees consider that the main areas of risk are in respect of education and finance. The trustees aim to ensure that adequate staff are recruited to further the purpose of the charity and ensure that educational standards are maintained and improved.

In terms of financial risk, this is dependent on the efficient collection of voluntary contributions from parents and on charitable contributions from members of the local community. If external fund raising is not maximised this can have a negative impact on the charity with regard to the recruitment of suitably qualified teachers as well as on extra curricular activities. Acquisition of educational material would also be restricted.

Risk Management

The Trustees are responsible for the management of the risks faced by the Charity. A formal review of the charity's risk management processes is undertaken on an annual basis.

The key controls used by the charity include:

• Comprehensive strategic planning and budgeting;

• Established organisational structure and lines of reporting;

• Clear authorisation and approval levels.

Through the risk management processes established for the Charity, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Recruitment of trustees

Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.

There are no policies for the induction or training of new trustees.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2023

Objectives and activities

Objects

(i) For the public benefit to promote the education (including social and leisure aspects of education) of people under the age of 25 years in the North of England in such ways as the charity trustees think fit, including awarding to such persons scholarships, maintenance allowances or grants; or by grants to charities or other organisations that provide education; or by the provision of education.

(ii) The prevention or relief of poverty or financial hardship in the North of England by providing: grants or loans to individuals in need and/or charities, or other organisations working to prevent or relieve poverty or financial hardship.

The charity primarily achieves this objective through the provision of support for a religious Jewish learning program to pupils of Manchester Mesivta (a voluntary aided school). The learning program includes all aspects of religious education as well as providing both religious and secular education to year 12 pupils.

Public benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity's aims and objectives and in planning future activities and setting grant making policy for the year.

The trustees consider they have met the public benefit test and outline these achievements below.

Grant making policy

The charity is funded by donations and grants. The charity primarily provides grants towards education and education based projects.

Relief of poverty grants are paid to individuals in line with the objects of the charity and as detailed in the notes to the accounts.

Grants made during the year to institutions are as detailed in the notes to the accounts.

The trustees measure the success of achieving the stated aims by the number and value of grants paid out for each object. The grants paid out in the year are detailed in the notes to the accounts and the trustees consider they have met their aims successfully this year.

The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2023

Achievements and performance

The charity paid out £647,604 (2022 £609,901) in direct educational expenditure as well as £26,572 (2022 £16,520) in support costs.

Educational grants totalling £446,572 (2022 £326,196) and relief of poverty grants of £90,000 (2022 £89,000) are as disclosed in the notes to the accounts. These grants were made in line with the stated objects of the charity.

The charity had low governance and support costs and the charity achieved this objective by maintaining tight controls over office & other support costs.

There were no investments made during the year.

Fundraising costs of £9,955 (2022 £11,884) incurred during the year are as detailed in the notes to the accounts.

Related party transactions are disclosed as applicable in the notes to the accounts.

There was an overall net expenditure and net movement in funds for the year amounting to £49,797 (2022 £67,891).

Financial review

The charity received £387,713 (2022 £352,873) in voluntary contributions during the year as well as £122,326 (2022 £155,724) in donations.

Other educational income totalled £402,757 (2022 £265,262).

Grants received totalled £18,450 (2022 £10,000) and other income receivable including childcare and sundry other income amounted to £239,660 (2022 £201,751).

Reserves

It is the policy of the charity to maintain unrestricted funds at a level sufficient to cover unforeseen and major expenditure and shortfalls in income. The governors remain confident in their ability to raise the necessary funds, thereby adhering to the stated policy and to the maintenance of a balanced budget.

The free reserves, represented by the net current assets of the charity stand at £27,620 (2022 £77,417) all of which is attributable to the unrestricted fund.

Plans for future periods

The trustees plan to continue raising funds for projects in line with the memorandum and articles of association and to pursue those objectives and projects by operating and maintaining the school with all the resources available to the charity.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2023

Trustees' responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the applicable Charities SORP;

• make judgments and accounting estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

• so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and

• they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 July 2023

The trustees' annual report was approved on 11 July 2024 and signed on behalf of the board of trustees by:

H Ehrentreu Trustee

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Independent Auditor's Report to the Trustees

Year ended 31 July 2023

Opinion

We have audited the financial statements of Manchester Mesivta Jewish Grammar School (the 'charity') for the year ended 31 July 2023 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 July 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in 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 financial statements section of our report. We are independent 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 Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Independent Auditor's Report to the Trustees (continued)

Year ended 31 July 2023

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to take advantage of the small companies' exemptions from the requirement to prepare a strategic report.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Independent Auditor's Report to the Trustees (continued)

Year ended 31 July 2023

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Independent Auditor's Report to the Trustees (continued)

Year ended 31 July 2023

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

the nature of the industry and sector, control environment and business performance;

results of our enquiries of management about their own identification and assessment of the risks of irregularities;

any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to (a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; (b) detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; (c) the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; (d) the matters identified as to how and where fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code, UK tax legislation and UK Charity Act.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

As a result of performing the above, we identified no key audit matters relating to the potential risk of fraud.

Our procedures to respond to risks identified included the following:

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Independent Auditor's Report to the Trustees (continued)

Year ended 31 July 2023

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

enquiring of management concerning actual and potential litigation and claims;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.

• Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Independent Auditor's Report to the Trustees (continued)

Year ended 31 July 2023

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Other matter

Prior year not audited.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state 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 extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Howard Schwalbe (Senior Statutory Auditor)

For and on behalf of Haffner Hoff Ltd 2nd Floor - Parkgates Accountants & statutory auditor Bury New Road Prestwich Manchester M25 0TL

11 July 2024

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 July 2023

			2023		2022
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	130,826	9,950	140,776	165,724
Charitable activities	6	547,097	402,757	949,854	793,068
Investment income	7	25	–	25	3
Other income	8	80,251	–	80,251	26,815
		--------------------------------	--------------------------------	-----------------------------------------	--------------------------------
Total income		758,199	412,707	1,170,906	985,610
		================================	================================	=========================================	================================
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	9	9,955	–	9,955	11,884
Expenditure on charitable activities	10,11	794,925	415,823	1,210,748	1,041,617
		--------------------------------	--------------------------------	-----------------------------------------	-----------------------------------------
Total expenditure		804,880	415,823	1,220,703	1,053,501
		================================	================================	=========================================	=========================================
		--------------------------------	--------------------------------	-----------------------------------------	-----------------------------------------
Net expenditure and net movement	in
funds		(46,681)	(3,116)	(49,797)	(67,891)
		================================	================================	=========================================	=========================================
Reconciliation of funds
Total funds brought forward		74,301	3,116	77,417	145,308
		--------------------------------	--------------------------------	-----------------------------------------	-----------------------------------------
Total funds carried forward		27,620	–	27,620	77,417
		================================	================================	=========================================	=========================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 16 to 24 form part of these financial statements.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Statement of Financial Position

31 July 2023

		2023		2022
	Note	£	£	£
Current assets
Debtors	18	42,940		–
Cash at bank and in hand		28,678		86,818
		----------------------------		----------------------------
		71,618		86,818
Creditors: amounts falling due within one year	19	43,998		9,401
		----------------------------		----------------------------
Net current assets			27,620	77,417
			----------------------------	----------------------------
Total assets less current liabilities			27,620	77,417
			----------------------------	----------------------------
Net assets			27,620	77,417
			============================	============================
Funds of the charity
Restricted funds			–	3,116
Unrestricted funds			27,620	74,301
			----------------------------	----------------------------
Total charity funds	21		27,620	77,417
			============================	============================

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

These financial statements were approved by the board of trustees and authorised for issue on 11 July 2024, and are signed on behalf of the board by:

H Ehrentreu Trustee

The notes on pages 16 to 24 form part of these financial statements.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 July 2023

	2023	2022
	£	£
Cash flows from operating activities
Net expenditure	(49,797)	(67,891)
Adjustments for:
Other interest receivable and similar income	(25)	(3)
Accrued expenses	5,530	650
Changes in:
Trade and other debtors	(42,940)	2,150
Trade and other creditors	29,067	980
	----------------------------	----------------------------
Cash generated from operations	(58,165)	(64,114)
Interest received	25	3
	----------------------------	----------------------------
Net cash used in operating activities	(58,140)	(64,111)
	============================	============================
Net decrease in cash and cash equivalents	(58,140)	(64,111)
Cash and cash equivalents at beginning of year	86,818	150,929
	----------------------------	--------------------------------
Cash and cash equivalents at end of year	28,678	86,818
	============================	================================

The notes on pages 16 to 24 form part of these financial statements.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 July 2023

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 2nd Floor - Parkgates, Bury New Road, Prestwich, Manchester, M25 0TL.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

• legacy income is recognised when receipt is probable and entitlement is established.

• income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.

• income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

3. Accounting policies (continued)

Financial instruments (continued)

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

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

4. Limited by guarantee

Manchester Mesivta Jewish Grammar School is a registered charity and a company limited by guarantee and does not have a share capital. In the event of the charity being wound up, members are required to contribute an amount not exceeding £10.

5. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Donations
Donations	122,326	–	122,326
Grants
Manchester Jewish Grammar School	8,500	–	8,500
National Lottery Main Grant	–	9,950	9,950
	--------------------------------	-----------------------	--------------------------------
	130,826	9,950	140,776
	================================	=======================	================================
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Donations	155,724	–	155,724
Grants
Manchester Jewish Grammar School	10,000	–	10,000
National Lottery Main Grant	–	–	–
	--------------------------------	--------------	--------------------------------
	165,724	–	165,724
	================================	==============	================================
Charitable activities
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Voluntary Contributions	387,713	–	387,713
Childcare	159,384	–	159,384
Other Educational Income	–	402,757	402,757
	--------------------------------	--------------------------------	--------------------------------
	547,097	402,757	949,854
	================================	================================	================================
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Voluntary Contributions	352,873	–	352,873
Childcare	174,933	–	174,933
Other Educational Income	–	265,262	265,262
	--------------------------------	--------------------------------	--------------------------------
	527,806	265,262	793,068
	================================	================================	================================

6. Charitable activities

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

7.	Investment income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Bank interest receivable	25	25	3	3
		==============	==============	==============	==============
8.	Other income
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Other income	80,251	80,251	26,815	26,815
		============================	============================	============================	============================
9.	Costs of raising donations and legacies
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2023	Funds	2022
		£	£	£	£
	Costs of raising donations and
	legacies - Donations	9,955	9,955	11,884	11,884
		=======================	=======================	============================	============================
10.	Expenditure on charitable activities by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
			£	£	£
	Educational expenditure		678,353	415,823	1,094,176
	Relief of poverty		90,000	–	90,000
	Support costs		26,572	–	26,572
			--------------------------------	--------------------------------	-----------------------------------------
			794,925	415,823	1,210,748
			================================	================================	=========================================
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
	Educational expenditure		670,835	265,262	936,097
	Relief of poverty		89,000	–	89,000
	Support costs		16,520	–	16,520
			--------------------------------	--------------------------------	-----------------------------------------
			776,355	265,262	1,041,617
			================================	================================	=========================================

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

11. Expenditure on charitable activities by activity type

		Activities
		undertaken	Grant funding	Support	Total funds	Total fund
		directly	of activities	costs	2023	2022
		£	£	£	£	£
	Educational expenditure	647,604	446,572	18,892	1,113,068	950,967
	Relief of poverty	–	90,000	–	90,000	89,000
	Governance costs	–	–	7,680	7,680	1,650
		--------------------------------	--------------------------------	----------------------------	-----------------------------------------	-----------------------------------------
		647,603	536,572	26,572	1,210,748	1,041,617
		================================	================================	============================	=========================================	=========================================
12.	Analysis of support costs
				Analysis of
				support costs	Total 2023	Total 2022
				£	£	£
	Staff costs			14,786	14,786	14,174
	General office			4,106	4,106	696
	Governance costs			7,680	7,680	1,650
				----------------------------	----------------------------	----------------------------
				26,572	26,572	16,520
				============================	============================	============================
13.	Analysis of grants
					2023	2022
					£	£
	Grants to institutions
	Kollel Meleches Machsheves				8,992	24,094
	Manchester Mesivta School				70,405	77,696
	Shalsheles				299,819	161,922
	Educational grants under £20,000				67,356	62,484
					--------------------------------	--------------------------------
					446,572	326,196
	Grants to individuals
	Relief of Poverty				90,000	89,000
					--------------------------------	--------------------------------
	Total grants				536,572	415,196
					================================	================================
14.	Auditors remuneration
					2023	2022
					£	£
	Fees payable for the audit of the financial statements				6,000	–
					=======================	==============
	Fees payable to the charity's auditor and its associates for other services:
	Other non-audit services				1,680	–
					=======================	==============

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

15. Independent examination fees

	2023	2022
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	–	1,650
	==============	=======================

16. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2023	2022
	£	£
Wages and salaries	508,402	452,527
Social security costs	16,637	20,060
Employer contributions to pension plans	7,012	13,425
	--------------------------------	--------------------------------
	532,051	486,012
	================================	================================

The average head count of employees during the year was 46 (2022: 42). The average number of full-time equivalent employees during the year is analysed as follows:

	2023	2022
	No.	No.
Number of administration staff	4	4
Number of educational staff	42	38
	--------------	--------------
	46	42
	==============	==============

No employee received employee benefits of more than £60,000 during the year (2022: Nil).

17. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

18. Debtors

		2023	2022
		£	£
	Other debtors	42,940	–
		============================	==============
19.	Creditors: amounts falling due within one year
		2023	2022
		£	£
	Accruals and deferred income	7,680	2,150
	Social security and other taxes	5,524	5,002
	Other creditors	30,794	2,249
		----------------------------	-----------------------
		43,998	9,401
		============================	=======================

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Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

20. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £7,012 (2022: £13,425).

21. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At 1 August			At 31 July
	2022	Income	Expenditure	2023
	£	£	£	£
General funds	74,301	758,199	(804,880)	27,620
	============================	================================	================================	============================
	At 1 August			At 31 July
	2021	Income	Expenditure	2022
	£	£	£	£
General funds	142,192	720,348	(788,239)	74,301
	================================	================================	================================	============================
Restricted funds
	At 1 August			At 31 July
	2022	Income	Expenditure	2023
	£	£	£	£
Restricted fund - grants received	3,116	412,707	(415,823)	–
	=======================	================================	================================	==============
	At 1 August			At 31 July
	2021	Income	Expenditure	2022
	£	£	£	£
Restricted fund - grants received	3,116	265,262	(265,262)	3,116
	=======================	================================	================================	=======================

- 23 -

Manchester Mesivta Jewish Grammar School

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 July 2023

22. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
	£	£	£
Current assets	71,618	–	71,618
Creditors less than 1 year	(43,998)	–	(43,998)
	----------------------------	--------------	----------------------------
Net assets	27,620	–	27,620
	============================	==============	============================
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Current assets	83,702	3,116	86,818
Creditors less than 1 year	(9,401)	–	(9,401)
	----------------------------	-----------------------	----------------------------
Net assets	74,301	3,116	77,417
	============================	=======================	============================
Analysis of changes in net debt
	At		At
	1 Aug 2022	Cash flows	31 Jul 2023
	£	£	£
Cash at bank and in hand	86,818	(58,140)	28,678
	============================	============================	============================

23. Analysis of changes in net debt

24. Related parties

Mr S J Fogal and Mr M Haffner and Mr H Ehrentreu, trustees of Manchester Mesivta Jewish Grammar School, are also directors of The Kollel Meleches Machsheves Ltd. During the year Manchester Mesivta Jewish Grammar School paid grants totalling £8,992 to The Kollel Meleches Machsheves Ltd.

During the year voluntary contributions totalling £3,000 were received from related parties.

Mrs D Ehrentreu, wife of Mr H Ehrentreu trustee of the charity, received £7,053 during the year for services provided to the charity. This decision was taken by the senior leadership team after considering possible conflicts of interest.

25. Taxation

Manchester Mesivta Jewish Grammar School is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

- 24 -