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2022-08-31-accounts

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 2022

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dayan Ivan Binstock, Principal
Abraham David Landy
Arnold Kosiner
Charles Lossos
Sheila Taylor
Rabbi Baruch Shmuel Levin (Appointed 1 September
2022)
Charity number 1166117
Company number 09941630
Registered office 180 Willesden Lane
London
NW6 7PP
Independent examiner Berish Hoffman FCA
Landau Morley LLP
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
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 - 20

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees present their annual report and financial statements for the year ended 31 August 2022.

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)" (effective 1 January 2019).

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 totalled £603,621 (2021: £613,232). £877,466 (2021: £906,144) 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 £2,417,132 (2021: £2,639,127), of which £343,820 (2021: £634,259) represents free reserves. The free reserves includes £343,820 included in a designated fund, comprising 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 £1,531,253 (2021: £1,525,338) 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.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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.

.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

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 Arnold Kosiner David Fishel (Resigned 31 August 2022) Graham Morris (Resigned 31 December 2022) Charles Lossos Sheila Taylor Rabbi Baruch Shmuel Levin (Appointed 1 September 2022)

Small company provision

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' report was approved by the Board of Trustees.

Abraham David Landy

Trustee Dated: 19 May 2023

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 2022.

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:

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 FCA

Landau Morley LLP 325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

Dated: 19 May 2023

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2022

Current financial year
Unrestricted
Restricted Endowment
funds
funds
funds
2022
2022
2022
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
503,199
74,059
-
Investments
4
4,719
-
17,150
Other income
4,494
-
-
Total income and endowments
512,412
74,059
17,150
Expenditure on:
Raising funds
5
-
-
6,471
Charitable activities
6
752,851
118,144
-
Total expenditure
752,851
118,144
6,471
Net gains/(losses) on investments
10
-
-
51,850
Net (outgoing)/incoming resources before
transfers
(240,439)
(44,085)
62,529
Gross transfers between funds
(50,000)
50,000
-
Net movement in funds
(290,439)
5,915
62,529
Fund balances at 1 September 2021
634,259
1,525,338
479,530
Fund balances at 31 August 2022
343,820
1,531,253
542,059		 Total
2022
£
577,258
21,869
4,494
603,621
6,471
870,995
877,466
51,850
(221,995)
-
(221,995)
2,639,127
2,417,132		 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

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 10 to 20 form part of these financial statements.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Prior 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 gains/(losses) on investments
10
-
-
-
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

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2022

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		 2022
£
£
1,498,323
375,000
1,873,323
11,471
595,331
606,802
(62,993)
543,809
2,417,132
542,059
542,059
361,026
181,033
542,059
1,531,253
343,820
343,820
2,417,132		 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		 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
1,826,130
812,997
2,639,127
479,530
1,525,338
634,259
2,639,127

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 2022

2022 2021 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 2022.

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 19 May 2023

Abraham David Landy Trustee

Company Registration No. 09941630

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2022

Notes
Cash flows from operating activities
Cash absorbed by operations
20
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 in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
£
(251,491)
(9,196)
(22,358)
21,869
(9,685)
-
(261,176)
856,507
595,331		 2021
£
£
(259,325)
-
(100,792)
13,938
(86,854)
-
(346,179)
1,202,686
856,507

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). 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 monetary amounts 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.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

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.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

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

In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
503,199
74,059
Government grants
-
-
503,199
74,059
Investments
Unrestricted Endowment
funds
funds
2022
2022
£
£
Rental income
-
17,150
Bank interest receivable
4,719
-
4,719
17,150		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
577,258
546,222
9,200
-
43,749
-
577,258
589,971
9,200
Total
Unrestricted
Endowment
funds
funds
2022
2021
2021
£
£
£
17,150
-
5,190
4,719
8,748
-
21,869
8,748
5,190		 Total
2021
£
555,422
43,749
599,171
Total
2021
£
5,190
8,748
13,938

4 Investments

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

5 Raising funds

Endowment Endowment
funds funds
2022 2021
£ £
Depreciation and impairment 1,379 -
Investment property expenses 5,092 2,359
6,471 2,359

6 Charitable activities

Staff costs
Depreciation and impairment
Contributions to North West London Jewish Day School Academy
Consultancy fees
Training costs
Educational costs
Fundraising expenses
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 2022
£
594,931
34,831
204,691
8,270
1,349
7,883
575
852,530
9,354
9,111
870,995
752,851
118,144
870,995		 2021
£
500,463
35,028
312,893
8,270
4,211
7,776
10,513
879,154
14,954
9,677
903,785
859,557
44,228
903,785

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

7 Support costs

General expenses
Credit charges
Secretarial services
Accountancy fees
Investment management fees
Insurance
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
1,128
-
2,228
-
3,855
-
-
7,437
-
1,674
2,143
-
9,354
9,111
9,354
9,111		 2022
£
1,128
2,228
3,855
7,437
1,674
2,143
18,465
18,465		 Support
costs
Governance
costs
£
£
2,133
-
2,109
-
3,848
-
-
7,382
-
2,295
6,864
-
14,954
9,677
14,954
9,677		 2021
£
2,133
2,109
3,848
7,382
2,295
6,864
24,631
24,631

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2022
Number
11
2022
£
483,448
50,219
61,264
594,931		 2021
Number
10
2021
£
414,555
41,143
44,765
500,463

The key management 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 £157,103 (2021: £159,427).

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

9 Employees (Continued)
The number of employees whose annual remuneration was more than £60,000
is as follows:
2022 2021
Number Number
£80,001 to £90,000 1 1
10 Net gains/(losses) on investments
Endowment Total
funds
2022 2021
£ £
Revaluation of investment properties 51,850 -
11 Tangible fixed assets
Leasehold Plant and Total
land and equipment
buildings
£ £ £
Cost
At 1 September 2021 1,686,058 16,684 1,702,742
Additions - 9,196 9,196
At 31 August 2022 1,686,058 25,880 1,711,938
Depreciation and impairment
At 1 September 2021 168,123 9,281 177,404
Depreciation charged in the year 33,721 2,490 36,211
At 31 August 2022 201,844 11,771 213,615
Carrying amount
At 31 August 2022 1,484,214 14,109 1,498,323
At 31 August 2021 1,517,935 7,403 1,525,338

The long leasehold land and buildings are the premises from which the school operates utilising the furniture and equipment.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

12
Investment property
Fair value
At 1 September 2021
Additions
Net gains or losses through fair value adjustments
At 31 August 2022		 2022
£
300,792
22,358
51,850
375,000

The 2022 valuations were made by the trustees, on an open market value for existing use basis.

13
Debtors
Amounts falling due within one year:
Other debtors
14
Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income		 2022
£
11,471
2022
£
16,594
5,200
41,199
62,993		 2021
£
7,979
2021
£
11,836
-
39,653
51,489

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

15 Endowment funds

Endowment funds
Movement in funds
Balance at
1 September
2020
Income
Expenditure
Balance at
1 September
2021
£
£
£
£
Permanent endowments
Capital
361,026
-
-
361,026
Expendable endowments
Income
115,600
5,263
(2,359)
118,504
476,626
5,263
(2,359)
479,530		 Movement in funds
Income
Expenditure
Revaluations
gains and
losses
Balance at
31 August
2022
£
£
£
£
-
-
-
361,026
17,150
(6,471)
51,850
181,033
17,150
(6,471)
51,850
542,059
542,059

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.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

16 Restricted funds

Balance at
1 September
2020
£
Building fund
1,658,547
SEN fund
-
1,658,547		 Movement in funds
Income
Expenditure
Transfers
Balance at
1 September
2021
£
£
£
£
9,200
(44,228)
(98,181)
1,525,338
-
-
-
-
9,200
(44,228)
(98,181)
1,525,338		 Movement in funds
Income
Expenditure
Transfers
£
£
£
32,500
(76,585)
50,000
41,559
(41,559)
-
74,059
(118,144)
50,000		 Balance at
31 August
2022
£
1,531,253
-
1,531,253

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.

The SEN fund relates to amounts received to be used within the SEN department. Amounts received were fully expended during the year.

17 Unrestricted funds

Balance at
1 September
2020
£
Designated Funds
1,013,731
General Funds
(216,864)
796,867		 Movement in funds
Income
Expenditure
Transfers
Balance at
1 September
2021
£
£
£
£
121,335
(303,559)
(194,275)
637,232
477,434
(555,998)
292,455
(2,973)
598,769
(859,557)
98,180
634,259		 Movement in funds
Income
Expenditure
Transfers
£
£
£
109,961
(107,338)
(296,035)
402,451
(645,513)
246,035
512,412
(752,851)
(50,000)		 Balance at
31 August
2022
£
343,820
-
343,820

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.

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

17 Unrestricted funds

(Continued)

18 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Endowment
funds
2022
2022
2022
£
£
£
Fund balances at 31 August 2022 are represented
by:
Tangible assets
-
1,490,507
7,816
Investment properties
-
-
375,000
Current assets/(liabilities)
343,820
40,746
159,243
343,820
1,531,253
542,059		 Total
Unrestricted
funds
2022
2021
£
£
1,498,323
-
375,000
-
543,809
634,259
2,417,132
634,259		 Restricted
funds
Endowment
funds
2021
2021
£
£
1,525,338
-
-
300,792
-
178,738
1,525,338
479,530		 Total
2021
£
1,525,338
300,792
812,997
2,639,127

NWL JEWISH DAY SCHOOL (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

19 Related party transactions

During the year, £8,270 (2021: £8,270) worth of services was provided to the school by Dayan I. Binstock, a Trustee, out of which £2,740 (2021: £2,070) was outstanding at the year end.

During the year, the charity received donations totaling £1,200 (2021: £6,500) from the Trustees.

During the year, contributions of £204,690 (2021: £312,893) were payable to North West London Jewish Day School Academy, an Academy with common directors. The charity received contributions of £54,125 (2021: £52,526) from the Academy as a contribution to salary costs. The Academy also uses the premises owned by the charity, rent free.

20 Cash generated from operations 2022 2021
£ £
Deficit for the year (221,995) (292,912)
Adjustments for:
Investment income recognised in statement of financial activities (21,869) (13,938)
Fair value gains and losses on investment properties (51,850) -
Depreciation and impairment of tangible fixed assets 36,210 35,028
Movements in working capital:
(Increase)/decrease in debtors (3,491) 8
Increase in creditors 11,504 12,489
Cash absorbed by operations (251,491) (259,325)

21 Analysis of changes in net funds

The charity had no debt during the year.