Charity Registration No. 1166117
Company Registration No. 09941630 (England and Wales)
NWL JEWISH DAY SCHOOL
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Dayan Ivan Binstock, Principal |
|---|---|
| David Landy | |
| Arnold Kosiner | |
| David Fishel | |
| Graham Morris | |
| Charles Lossos | |
| Sheila Taylor | |
| Charity number | 1166117 |
| Company number | 09941630 |
| Registered office | 180 Willesden Lane |
| London | |
| NW6 7PP | |
| Independent examiner | Berish Hoffman ACA |
| 325-327 Oldfield Lane North | |
| Greenford | |
| Middlesex | |
| UB6 0FX | |
| Bankers | Lloyds Bank PLC |
| Chelmsford Legg Street OSC | |
| 1 Legg Street | |
| Essex | |
| CM1 1JS | |
| Solicitors | Teacher Stern Selby |
| 37-41 Bedford Row | |
| London | |
| WC18 4JH | |
| Stone King LLP | |
| 91 Charterhouse Street | |
| London | |
| EC1M 6HR |
NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 - 6 |
| Statement of financial position | 7 - 8 |
| Statement of cash flows | 9 |
| Notes to the financial statements | 10 - 21 |
NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2020
The Trustees present their report and financial statements for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016) .
Objectives and activities
The charity's objects are specifically restricted to the advancement, for the public benefit, of the education of children in the United Kingdom including (without limitation):
(a) the provision of property to be used as a day school for the general education of boys and girls so long as instruction in the orthodox Jewish faith forms part of the daily curriculum at the day school;
(b) the provision of kosher meals for pupils of the day school and other people of the Jewish faith; and
(c) the carrying on of such other activities as the Trustees deem conducive to or supplementary to those objects.
Since 1 September 2016, when all of the assets and activities of the charitable trust North West London Jewish Day School (Charity number: No 312159) were transferred to the charity, the charity has been successfully carrying on the role previously undertaken by the charitable trust.
The charity has provided the property used by the Academy The North West London Jewish Day School in London, (the School) and has raised funds and paid teachers in order to assist with instruction of the children who attend the school in the orthodox Jewish faith.
The Trustees review progress reports from the Governing Body and external inspections to check that the standards of the School are at an acceptable level.
The charity does not use volunteers, other than the Trustees, in its activities.
Achievements and performance
The Trustees are pleased to report a successful year of operation. Income tota l led £ 977,858 (201 9 : £686,173 ). £629,142 (201 9 : £ 638,838 ) was spent in furtherance of the charity's objectives. These figures are in accordance with the Trustees' objectives, which is to support the financing of the Jewish Studies Department at the school to deliver a highly rated Jewish education .
Financial review
At the year end, the charity's net assets were £2, 932,039 (201 9 : £2,583,323 ) , of which £ 824,916 (201 9 : £ 373,654 ) represents free reserves. The charity has restricted funds of £1,630,498 (2019: £1,720,692) at the year end.
The Trustees aim to maintain available reserves to enable the charity to operate for at least six months without
receipt of any income, and this policy has been achieved in the year under review.
Future performance is expected to be similar, although the requirements of the School will continue to increase in the coming years so the Trustees are mindful that they must continue to ensure the charity's income is maintained or enhanced.
Future financial performance could be affected by major changes in the economy with a result that parents and friends of the School are able to donate less money to the charity, which in turn will be able to donate less money to the School.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Plans for future periods
The Trustees plans for the future are to continue to raise funds to help the School thrive.
Structure, governance and management
The governing document of the charity which was incorporated on 8th January 2015 is its Memorandum and Articles of Association, as amended by a special resolution registered at Companies House on 9th March 2016. The charity number is 09941630. The charity commenced operation on 1st September 2016.
The Trustees confirm that they have referred to the public benefit guidance by the Charity Commission when reviewing the charity's aims and objectives and in planning future activities. In particular the charity provides Jewish education to all children at the School.
The Trustees meet regularly and decisions are made after the views of all present have been taken into account.
The Chair of Trustees is responsible for the induction of any new Trustee, which includes awareness of Trustee responsibilities, the governing document and operational activities of the charity. When appointing new Trustees, efforts are made to recruit individuals with a breadth of interests, social awareness, knowledge of the Jewish community and the educational requirements of Jewish families. Potential and newly appointed Trustees are provided with full information about the work of the charity. Training needs are continually monitored to ensure that Trustees are up to date with relevant information and requirements.
The Trustees are in regular contact with the Governors of School, some of whom are also Trustees of the charity.
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate the exposure to any major risks.
The Trustees are committed to legal requirements and best practice and have during the year kept under review their policies and procedures including financial controls. They have followed best practice as recommended by the Charity Commission.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The Trustees who served during the year and up to the date of signature of the financial statements were:
Dayan Ivan Binstock, Principal David Landy Arnold Kosiner David Fishel Graham Morris Charles Lossos Sheila Taylor Michael Weinstein (Resigned 4 March 2020)
Small company provision
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Going concern
There has been significant impact to the charity due to the effects of COVID 19. In response, the Trustees' are committed to supporting the teachers until the end of the current academic year and are confident that the charity has sufficient funds to support the current level of expenditure for the next twelve months. The Trustees' believe the charity has no going concern issues and will continue to evaluate the situation on an ongoing basis.
The trustees' r eport was approved by the Board of Trustees.
David Fishel
Trustee Dated: 19 May 2021
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NWL JEWISH DAY SCHOOL
I report to the Trustees on my examination of the financial statements of NWL Jewish Day School (the charity) for the year ended 31 August 2020.
Responsibilities and basis of report
As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements 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 financial statements 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 financial statements to be reached.
Berish Hoffman ACA
325-327 Oldfield Lane North Greenford Middlesex UB6 0FX
Dated: 20 May 2021
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2020
| Current financial year Unrestricted Restricted Endowment funds funds funds 2020 2020 2020 Notes £ £ £ Income and endowments from: Donations and legacies 3 977,091 - - Investments 4 329 113 - Other income 255 - 70 Total income and endowments 977,675 113 70 Expenditure on: Raising funds 5 - - 12,422 Charitable activities 6 554,462 62,258 - Total resources expended 554,462 62,258 12,422 Net gains/(losses) on investments 10 - - - Net movement in funds 423,213 (62,145) (12,352) Fund balances at 1 September 2019 373,654 1,720,692 488,977 Fund balances at 31 August 2020 796,867 1,658,547 476,625 |
Total 2020 £ 977,091 442 325 977,858 12,422 616,720 629,142 - 348,716 2,583,323 2,932,039 |
Total 2019 £ 648,525 35,569 2,079 686,173 12,231 626,607 638,838 (2,780) 44,555 2,538,768 2,583,323 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Prior financial year
| Unrestricted Restricted Endowment funds funds funds 2019 2019 2019 Notes £ £ £ Income and endowments from: Donations and legacies 3 561,815 86,710 - Investments 4 505 64 35,000 Other income 2,079 - - Total income and endowments 564,399 86,774 35,000 Expenditure on: Raising funds 5 - 5,815 6,416 Charitable activities 6 552,126 74,481 - Total resources expended 552,126 80,296 6,416 Net gains/(losses) on investments 10 (2,780) - - Gross transfers between funds 9,300 (9,300) - Net movement in funds 18,793 (2,822) 28,584 Fund balances at 1 September 2018 354,861 1,723,514 460,393 Fund balances at 31 August 2019 373,654 1,720,692 488,977 |
Total 2019 £ 648,525 35,569 2,079 686,173 12,231 626,607 638,838 (2,780) - 44,555 2,538,768 2,583,323 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2020
| Notes Fixed assets Tangible assets 11 Investment properties 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 Capital funds Endowment funds General endowment funds Permanent endowment Expendable endowment 15 Income funds Restricted funds 16 Unrestricted funds General funds 17 |
2020 £ £ 1,560,366 200,000 1,760,366 7,987 1,202,686 1,210,673 (39,000) 1,171,673 2,932,039 476,625 476,625 361,026 115,599 476,625 1,658,547 796,867 796,867 2,932,039 |
2019 £ £ 1,593,217 200,000 1,793,217 65,045 777,479 842,524 (52,418) 790,106 2,583,323 488,977 488,977 361,026 127,951 488,977 1,720,692 373,654 373,654 2,583,323 |
|---|---|---|
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2020
| 2020 | 2019 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2020.
The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 19 May 2021
David Fishel
Trustee
Company Registration No. 09941630
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020
| Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 20 Investing activities Purchase of tangible fixed assets Proceeds on disposal of investments Investment income received Net cash (used in)/generated from investing activities Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2020 £ £ 427,173 (2,408) - 442 (1,966) - 425,207 777,479 1,202,686 |
2019 £ £ (4,040) (8,464) 250,001 35,569 277,106 - 273,066 504,413 777,479 |
|---|---|---|
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
The charity is a company limited by guarantee incorporated in England and Wales . The members of the charity are the Trustees named on page 2. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office is 180 Willesden Lane, London, NW6 7PP.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the m onetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
1.4 Incoming resources
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition it deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings 2% straight line Plant and equipment 15% reducing balance
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.8 Cash and cash equivalents
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.9 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.13 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.14 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
2 Critical accounting estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
3 Donations and legacies
| UnrestrictedUnrestricted Restricted funds funds funds 2020 2019 2019 £ £ £ Donations and gifts 940,866 561,815 86,710 Government grants 36,225 - - 977,091 561,815 86,710 |
Total 2019 £ 648,525 - 648,525 |
|---|---|
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
4 Investments
| Unrestricted Restricted funds funds 2020 2020 £ £ Rental income - - Bank interest receivable 329 113 329 113 |
TotalUnrestricted Restricted Endowment funds funds funds 2020 2019 2019 2019 £ £ £ £ - - - 35,000 442 505 64 - 442 505 64 35,000 |
Total 2019 £ 35,000 569 35,569 |
|---|---|---|
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
5 Raising funds
| Endowment Restricted Endowment funds funds funds 2020 2019 2019 £ £ £ Fundraising costs - 5,815 - Investment property expenses 12,422 - 6,416 12,422 5,815 6,416 Charitable activities 2020 £ Staff costs 482,883 Depreciation and impairment 35,258 Contributions to North West London Jewish Day School Academy 27,000 Consultancy fees 8,280 Donations to North West London Jewish Day School 2,468 Training costs 1,935 Educational costs 8,080 Charitable expenditure heading 15 28,049 593,953 Share of support costs (see note 7) 14,876 Share of governance costs (see note 7) 7,891 616,720 Analysis by fund Unrestricted funds 554,462 Restricted funds 62,258 616,720 For the year ended 31 August 2019 Unrestricted funds Restricted funds |
Total 2019 £ 5,815 6,416 12,231 2019 £ 494,367 35,481 39,000 8,230 1,800 241 12,637 - 591,756 27,839 7,012 626,607 552,126 74,481 626,607 |
|---|---|
6 Charitable activities
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
7 Support costs
| Support costs Governance costs £ £ General expenses 1,229 - Credit charges 2,363 - Secretarial services 5,598 - Accountancy fees - 7,428 Investment management fees - 463 Insurance 5,686 - 14,876 7,891 Analysed between Charitable activities 14,876 7,891 |
2020 £ 1,229 2,363 5,598 7,428 463 5,686 22,767 22,767 |
Support costs Governance costs £ £ 1,261 - 2,253 - 17,608 - - 7,012 1,536 - 5,181 - 27,839 7,012 27,839 7,012 |
2019 £ 1,261 2,253 17,608 7,012 1,536 5,181 34,851 34,851 |
|---|---|---|---|
8 Trustees
None of the Trustees (or any persons connected with them) received any remuneration amounting to more than £60,000.
9 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2020 Number 10 2020 £ 399,590 39,132 44,161 482,883 |
2019 Number 11 2019 £ 408,244 39,238 46,885 494,367 |
|---|---|---|
The key management personnel of the charity comprise the Trustees, the Head of Kodesh and Deputy Head of Kodesh. The total employee benefits of the key management personnel of the Charity were £1 52,748 (201 9 : £ 145,912 ).
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
10 Net gains/(losses) on investments
| Loss on sale of investments 11 Tangible fixed assets Cost At 1 September 2019 Additions At 31 August 2020 Depreciation and impairment At 1 September 2019 Depreciation charged in the year At 31 August 2020 Carrying amount At 31 August 2020 At 31 August 2019 |
Leasehold land and buildings £ 1,683,651 2,408 1,686,059 100,681 33,721 134,402 1,551,657 1,582,971 |
TotalUnrestricted funds 2020 2019 £ £ - (2,780) Plant and equipment Total £ £ 16,684 1,700,335 - 2,408 16,684 1,702,743 6,438 107,119 1,537 35,258 7,975 142,377 8,709 1,560,366 10,246 1,593,217 |
|---|---|---|
The long leasehold land and buildings are the premises from which the school operates utilising the furniture and equipment.
12 Investment property
| Investment property | |
|---|---|
| 2020 | |
| £ | |
| Fair value | |
| At 1 September 2019 and 31 August 2020 | 200,000 |
The 2020 valuations were made by the trustees, on an open market value for existing use basis.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
| 13 Debtors Amounts falling due within one year: Other debtors 14 Creditors: amounts falling due within one year Other taxation and social security Accruals and deferred income |
2020 £ 7,987 2020 £ 11,148 27,852 39,000 |
2019 £ 65,045 2019 £ 10,796 41,622 52,418 |
|---|---|---|
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
15 Endowment funds
| Balance at 1 September 2018 £ Permanent endowments Capital 361,026 Expendable endowments Income 99,367 460,393 |
Movement in funds Income Expenditure Transfers Revaluations gains and losses Balance at 1 September 2019 £ £ £ £ £ - - - - 361,026 35,000 (6,416) - - 127,951 35,000 (6,416) - - 488,977 |
Movement in funds Income Expenditure Transfers Revaluations gains and losses £ £ £ £ - - - - 70 (12,422) - - 70 (12,422) - - |
Balance at 31 August 2020 £ 361,026 115,599 476,625 |
|---|---|---|---|
Endowment fund comprise the proceeds at the sale of the Yavneh Grammar School's former premises received during the year ended 31 August 2001. The funds are to be held in trust as directed by a Charity Commission Scheme dated 23 August 2001. The income is available for the general purposes of the school. The assets were transferred to NWL Jewish Day School on the 1 September 2016.
16 Restricted funds
| Movement in funds | Movement in funds | Movement | in funds | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at | Income | Expenditure | Transfers | Balance at | Income | Expenditure | Balance at | ||
| 1 | September | 1 September | 31 August | ||||||
| 2018 | 2019 | 2020 | |||||||
| £ | £ | £ | £ | £ | £ | £ | £ | ||
| Building fund | 1,723,514 | 86,774 | (80,296) | (9,300) | 1,720,692 | 113 | (62,258) | 1,658,547 |
The object of the building restricted fund is to raise money for the maintenance and development of the school buildings and for projects to advance the school itself .
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
17 Unrestricted funds
| Balance at 1 September 2019 £ Designated Funds 606,490 General Funds (232,836) 373,654 |
Movement in funds Income Expenditure Balance at 31 August 2020 £ £ £ 470,453 (63,212) 1,013,731 507,222 (491,250) (216,864) 977,675 (554,462) 796,867 |
|---|---|
Designated funds comprise funds raised by the Trustees to cover the shortfall in the cost of provision of Jewish Education not met by voluntary contributions, capital projects, Special Education Needs funding and other costs at the discretion of the Trustees.
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
| 18 Analysis of net assets between funds Unrestricted funds Restricted funds Endowment funds 2020 2020 2020 £ £ £ Fund balances at 31 August 2020 are represented by: Tangible assets - 1,560,366 - Investment properties - - 200,000 Current assets/(liabilities) 796,867 98,181 276,625 796,867 1,658,547 476,625 |
TotalUnrestricted funds 2020 2019 £ £ 1,560,366 - 200,000 - 1,171,673 373,654 2,932,039 373,654 |
Restricted funds Endowment funds 2019 2019 £ £ 1,593,217 - - 200,000 127,475 288,977 1,720,692 488,977 |
Total 2019 £ 1,593,217 200,000 790,106 2,583,323 |
|---|---|---|---|
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NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
19 Related party transactions
During the year, the charity received £ 297 (201 9 : £Nil ) from North West London Jewish Day School and paid a donation of £2,468 (2019: £1,800 ) to North West London Jewish Day School.
During the year, £8,280 (2019: £8,230) worth of services was provided to the school by Dayan I. Binstock, a Trustee, out of which £690 (2019: £4,800 ) was outstanding at the year end.
During the year, the charity received donations totalling £ 1 3,025 (2019: £ 1,000) from the Trustees.
During the year, contributions of £27,000 (2019: £ 39 ,000 ) were payable to North West London Jewish Day School Academy, an Academy with common directors. T he Academy paid contributions of £53,480 (2019: £52,055) in respect of R Broder . The Academy also uses the premises owned by the charity, rent free.
| 20 Cash generated from operations Surplus for the year Adjustments for: Investment income recognised in statement of financial activities (Gain)/loss on disposal of investments Depreciation and impairment of tangible fixed assets Movements in working capital: Decrease/(increase) in debtors (Decrease)/increase in creditors Cash generated from/(absorbed by) operations 21 Analysis of changes in net funds The charity had no debt during the year. |
2020 £ 348,716 (442) - 35,258 57,059 (13,418) 427,173 |
2019 £ 44,555 (35,569) 2,780 35,481 (60,963) 9,676 (4,040) |
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