**Charity registration number 1166117**
**Company registration number 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 2021**
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Dayan Ivan Binstock, Principal|
|---|---|
||Abraham David Landy, Chair of Trustees|
||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|
||Landau Morley LLP|
||325-327 Oldfield Lane North|
||Middlesex|
||UB6 0FX|
|**Bankers**|Lloyds Bank PLC|
||Chelmsford Legg Street OSC|
||1 Legg Street|
||Essex|
||CM1 1JS|
|**Solicitors**|Teacher Stern|
||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 - 19|
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The Trustees present their annual report and financial statements for the year ended 31 August 2021.
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 £ 613, 232 (2020: £ 977 , 858). £906, 144 (2020: £629 , 142) 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 .
- 1 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **Financial review**
At the year end, the charity's net assets were £2, 639,127 (2020: £2, 932 , 039) , of which £ 634,25 9 (2020: £ 796,866 ) represents free reserves. The free reserves includes £637,232 included in a designated fund, compris ing funds raised by the Trustees to cover the shortfall in the cost of provision of Jewish Education not met by voluntary contributions and capital projects,
The charity has restricted funds of £1,525,338 (20 20 : £1,658,547) 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.
## **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 safeguarding and financial controls. .
- 2 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The Trustees who served during the year and up to the date of signature of the financial statements were:
Dayan Ivan Binstock, Principal Abraham David Landy, Chair of Trustees Arnold Kosiner David Fishel Graham Morris Charles Lossos Sheila Taylor
## **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: 30 May 2022
- 3 -
**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 2021.
## **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**
Landau Morley LLP 325-327 Oldfield Lane North Middlesex UB6 0FX
Dated: 30 May 2022
- 4 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**Current financial year**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
589,971
9,200
-
Investments
**4**
8,748
-
5,190
Other income
50
-
73
**Total income and endowments**
598,769
9,200
5,263
**Expenditure on:**
Raising funds
**5**
-
-
2,359
Charitable activities
**6**
859,557
44,228
-
**Total expenditure**
859,557
44,228
2,359
**Net (outgoing)/incoming resources**
**before transfers**
(260,788)
(35,028)
2,904
Gross transfers between funds
98,181
(98,181)
-
**Net movement in funds**
(162,607)
(133,209)
2,904
Fund balances at 1 September 2020
796,866
1,658,547
476,626
**Fund balances at 31 August 2021**
634,259
1,525,338
479,530|**Total**
**2021**
**£**
599,171
13,938
123
613,232
2,359
903,785
906,144
(292,912)
-
(292,912)
2,932,039
2,639,127|**Total**
**2020**
**£**
977,091
442
325
977,858
12,422
616,720
629,142
348,716
-
348,716
2,583,323
2,932,039|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**Prior 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 expenditure**
554,462
62,258
12,422
**Net (outgoing)/incoming resources before transfers**
423,213
(62,145)
(12,352)
**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
348,716
2,583,323
2,932,039|
|---|---|
- 6 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION**
## _**AS AT 31 AUGUST 2021**_
|**Notes**
**Fixed assets**
Tangible assets
**10**
Investment properties
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds
General endowment funds
Permanent endowment
Expendable endowment
**14**
**Income funds**
Restricted funds
**15**
Unrestricted funds
General funds
**16**|**2021**
**£**
**£**
1,525,338
300,792
1,826,130
7,979
856,507
864,486
(51,489)
812,997
2,639,127
479,530
479,530
361,026
118,504
479,530
1,525,338
634,259
634,259
2,639,127|**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|
|---|---|---|
- 7 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION (CONTINUED)**
## _**AS AT 31 AUGUST 2021**_
|||**2021**|||**2020**||
|---|---|---|---|---|---|---|
|**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 2021.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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 30 May 2022
David Fishel
## **Trustee**
## **Company Registration No. 09941630**
- 8 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**19**
**Investing activities**
Purchase of tangible fixed assets
Purchase of investment property
Investment income received
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2021**
**£**
**£**
(259,325)
-
(100,792)
13,938
(86,854)
-
(346,179)
1,202,686
856,507|**2020**
**£**
**£**
427,173
(2,408)
-
442
(1,966)
-
425,207
777,479
1,202,686|
|---|---|---|
- 9 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **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 3. 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.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **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.
- 10 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **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 the statement of financial activities .
## **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.
- 11 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **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**
||||**Unrestricted**|**Restricted**|**Total**|Unrestricted|
|---|---|---|---|---|---|---|
||||**funds**|**funds**||funds|
||||**2021**|**2021**|**2021**|2020|
||||**£**|**£**|**£**|£|
|Donations and gifts|||546,222|9,200|555,422|940,866|
|Government grants|||43,749|-|43,749|36,225|
||||589,971|9,200|599,171|977,091|
|**Investments**|||||||
||**Unrestricted**|**Endowment**|
**Total**|Unrestricted|Restricted|Total|
||**funds**|
**funds**||funds|funds||
||**2021**|
**2021**|
**2021**|2020|2020|2020|
||**£**|
**£**|
**£**|£|£|£|
|Rental income|-|
5,190|
5,190|-|-|-|
|Bank interest receivable|8,748|
-|
8,748|329|113|442|
||8,748|
5,190|
13,938|329|113|442|
## **4 Investments**
- 12 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **5 Raising funds**
||**Endowment**|Endowment|
|---|---|---|
||**funds**|funds|
||**2021**|2020|
||**£**|£|
|Fundraising and publicity|||
|Investment property expenses|2,359|12,422|
||2,359|12,422|
|**Charitable activities**|||
||**2021**|**2020**|
||**£**|**£**|
|Staff costs|500,463|482,883|
|Depreciation and impairment|35,028|35,258|
|Contributions to North West London Jewish Day School Academy|312,893|27,000|
|Consultancy fees|8,270|8,280|
|Donations to North West London Jewish Day School|-|2,468|
|Training costs|4,211|1,935|
|Educational costs|7,776|8,080|
|Fundraising expenses|10,513|28,049|
||879,154|593,953|
|Share of support costs (see note 7)|14,954|14,876|
|Share of governance costs (see note 7)|9,677|7,891|
||903,785|616,720|
|**Analysis by fund**|||
|Unrestricted funds|859,557|554,462|
|Restricted funds|44,228|62,258|
||903,785|616,720|
## **6 Charitable activities**
- 13 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **7 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
General expenses
2,133
-
Credit charges
2,109
-
Secretarial services
3,848
-
Accountancy fees
-
7,382
Investment management fees
-
2,295
Insurance
6,864
-
14,954
9,677
Analysed between
Charitable activities
14,954
9,677|**2021**
**£**
2,133
2,109
3,848
7,382
2,295
6,864
24,631
24,631|Support
costs
Governance
costs
£
£
1,229
-
2,363
-
5,598
-
-
7,428
-
463
5,686
-
14,876
7,891
14,876
7,891|2020
£
1,229
2,363
5,598
7,428
463
5,686
22,767
22,767|
|---|---|---|---|
## **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|**2021**
**Number**
10
**2021**
**£**
414,555
41,143
44,765
500,463|**2020**
**Number**
10
**2020**
**£**
399,590
39,132
44,161
482,883|
|---|---|---|
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 5 9,427 (2020: £ 1 52,748).
- 14 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**9**
**Employees**
The number of employees whose annual remuneration was more than
£60,000 is as follows:
£80,001 to £90,000
**10**
**Tangible fixed assets**
**Leasehold**
**land and**
**buildings**
**£**
**Cost**
At 1 September 2020
1,686,058
At 31 August 2021
1,686,058
**Depreciation and impairment**
At 1 September 2020
134,402
Depreciation charged in the year
33,721
At 31 August 2021
168,123
**Carrying amount**
At 31 August 2021
1,517,935
At 31 August 2020
1,551,657|**(Continued)**
**2021**
**2020**
**Number**
**Number**
1
1
**Plant and**
**equipment**
**Total**
**£**
**£**
16,684
1,702,742
16,684
1,702,742
7,975
142,377
1,306
35,027
9,281
177,404
7,403
1,525,338
8,709
1,560,366|
|---|---|
The long leasehold land and buildings are the premises from which the school operates utilising the furniture and equipment.
## **11 Investment property**
|**Fair value**
At 1 September 2020
Additions through external acquisition
At 31 August 2021|**2021**
**£**
200,000
100,792
300,792|
|---|---|
The 202 1 valuations were made by the trustees, on an open market value for existing use basis.
- 15 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**13**
**Creditors: amounts falling due within one year**
Other taxation and social security
Accruals and deferred income|**2021**
**£**
7,979
**2021**
**£**
11,836
39,653
51,489|**2020**
**£**
7,987
**2020**
**£**
11,148
27,852
39,000|
|---|---|---|
- 16 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **14 Endowment funds**
|**Balance at**
**1 September**
**2019**
**£**
**Permanent endowments**
Capital
361,026
**Expendable endowments**
Income
127,951
488,977|**Movement in funds**
**Income**
**Expenditure**
**Transfers Revaluations**
**gains and**
**losses**
**Balance at**
**1 September**
**2020**
**£**
**£**
**£**
**£**
**£**
-
-
-
-
361,026
70
(12,422)
-
-
115,600
70
(12,422)
-
-
476,626|**Movement in funds**
**Income**
**Expenditure**
**Transfers Revaluations**
**gains and**
**losses**
**£**
**£**
**£**
**£**
-
-
-
-
5,263
(2,359)
-
-
5,263
(2,359)
-
-|**Balance at**
**31 August**
**2021**
**£**
361,026
118,504
479,530|
|---|---|---|---|
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.
## **15 Restricted funds**
||||**Movement**|**in funds**||**Movement in funds**|**Movement in funds**|||
|---|---|---|---|---|---|---|---|---|---|
|||**Balance at**|**Income**|**Expenditure**|**Balance at**|**Income**|**Expenditure**|**Transfers**|**Balance at**|
||**1**|**September**|||**1 September**||||**31 August**|
|||**2019**|||**2020**||||**2021**|
|||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Building fund||1,720,692|113|(62,258)|1,658,547|9,200|(44,228)|(98,181)|1,525,338|
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 .
- 17 -
## **NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **16 Unrestricted funds**
|
**Balance at**
**1 September**
**2019**
**£**
Designated Funds
606,490
General Funds
(232,836)
373,654|**Movement in funds**
**Income**
**Expenditure**
**Balance at**
**1 September**
**2020**
**£**
**£**
**£**
470,453
(63,212)
1,013,731
507,222
(491,250)
(216,864)
977,675
(554,462)
796,867|**Movement in funds**
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
121,335
(303,559)
(194,275)
477,434
(555,998)
292,455
598,769
(859,557)
98,180|**Balance at**
**31 August**
**2021**
**£**
637,232
(2,973)
634,259|
|---|---|---|---|
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.
## **17 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**Endowment**
**funds**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Fund balances at 31 August 2021 are represented
by:
Tangible assets
-
1,525,338
-
Investment properties
-
-
300,792
Current assets/(liabilities)
634,259
-
178,738
634,259
1,525,338
479,530|**Total**Unrestricted
funds
**2021**
2020
**£**
£
1,525,338
-
300,792
-
812,997
796,867
2,639,127
796,867|Restricted
funds
Endowment
funds
2020
2020
£
£
1,560,366
-
-
200,000
98,181
276,625
1,658,547
476,625|Total
2020
£
1,560,366
200,000
1,171,673
2,932,039|
|---|---|---|---|
- 18 -
**NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **18 Related party transactions**
During the year, the charity received £Nil (2020: £ 297) from North West London Jewish Day School and paid a donation of £Nil (20 20 : £ 2,468) to North West London Jewish Day School.
During the year, £8,2 7 0 (20 20 : £8,2 8 0) worth of services was provided to the school by Dayan I. Binstock, a Trustee, out of which £2,070 (20 20 : £690 ) was outstanding at the year end.
During the year, the charity received donations totalling £ 6,500 (20 20 : £ 1 3 ,0 25 ) from the Trustees.
During the year, contributions of £312,893 (20 20 : £27,000 ) were payable to North West London Jewish Day School Academy, an Academy with common directors. T he charity received contributions of £5 2,526 (20 20 : £5 3 , 480 ) from the Academy as a contribution salary costs . The Academy also uses the premises owned by the charity, rent free.
|**19**
**Cash generated from operations**
**2021**
**£**
(Deficit)/surpus for the year
(292,912)
Adjustments for:
Investment income recognised in statement of financial activities
(13,938)
Depreciation and impairment of tangible fixed assets
35,028
Movements in working capital:
Decrease in debtors
8
Increase/(decrease) in creditors
12,489
**Cash (absorbed by)/generated from operations**
(259,325)|**2020**
**£**
348,716
(442)
35,258
57,059
(13,418)
427,173|
|---|---|
## **20 Analysis of changes in net funds**
The charity had no debt during the year.
- 19 -