REGISTERED COMPANY NUMBER: 09941630 (England and Wales) REGISTERED CHARITY NUMBER: 1166117
Report of the Trustees and
Unaudited Financial Statements FOR THE YEAR ENDED 31 August 2023
for
NWL JEWISH DAY SCHOOL
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
NWL JEWISH DAY SCHOOL
Contents of the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 to 7 |
| Cash Flow Statement | 8 |
| Notes to the Cash Flow Statement | 9 |
| Notes to the Financial Statements | 10 to 17 |
NWL JEWISH DAY SCHOOL
Reference and Administrative Details
FOR THE YEAR ENDED 31 AUGUST 2023
TRUSTEES
Dayan I Binstock Mr A H Kosiner Mr A D Landy Rabbi B S Levin (appointed 1.9.22) Mr G S Morris (resigned 31.3.23) Mrs S Taylor Mr C Lossos
REGISTERED OFFICE 180 Willesden Lane London NW6 7PP
REGISTERED COMPANY NUMBER 09941630 (England and Wales)
REGISTERED CHARITY NUMBER 1166117
INDEPENDENT EXAMINER Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
SOLICITORS
Teacher Stern LLP 37-41 Bedford Row London WC18 4JH Stone King LLP 91 Charterhouse Street London EC1M 6HR
Page 1
NWL JEWISH DAY SCHOOL (REGISTERED NUMBER: 09941630)
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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
Objectives and aims
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.
Public benefit
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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Income totalled £501,027 (2022: £603,621). £726,232 (2022: £877,466) 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
Financial position
At the year end, the charity's net assets were £2,191,927 (2022: £2,417,132), of which £357,028 (2022: £343,819) represents free reserves. The free reserves includes £356,405 (2022: £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 £1,454,688 (2022: £1,531,254) 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 (REGISTERED NUMBER: 09941630)
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
FUTURE PLANS
The Trustees plans for the future are to continue to raise funds to help the School thrive.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
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 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 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.
Risk management
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.
Approved by order of the board of trustees on 30 May 2024 and signed on its behalf by:
Mr A D Landy - Trustee
Page 3
Independent Examiner's Report to the Trustees of NWL Jewish Day School
Independent examiner's report to the trustees of NWL Jewish Day School ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the 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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 accounts to be reached.
Aryeh Melinek, FCA
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
31 May 2024
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NWL JEWISH DAY SCHOOL
Statement of Financial Activities
FOR THE YEAR ENDED 31 AUGUST 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Charitable activities Total Net gains on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 461,325 39,702 501,027 24,167 463,651 487,818 - 13,209 343,819 357,028 |
Restricted funds £ - - - - 76,566 76,566 - (76,566) 1,531,254 1,454,688 |
Endowment fund £ - - - 2,605 159,243 161,848 - (161,848) 542,059 380,211 |
2023 Total funds £ 461,325 39,702 501,027 26,772 699,460 726,232 - (225,205) 2,417,132 2,191,927 |
2022 Total funds £ 581,752 21,869 603,621 6,471 870,995 877,466 51,850 (221,995) 2,639,127 2,417,132 |
|---|---|---|---|---|---|
The notes form part of these financial statements
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NWL JEWISH DAY SCHOOL (REGISTERED NUMBER: 09941630)
Balance Sheet 31 AUGUST 2023
| Notes FIXED ASSETS Tangible assets 12 Investment property 13 CURRENT ASSETS Debtors 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted fund £ - - - 7,384 511,267 518,651 (161,623) 357,028 357,028 357,028 |
Restricted funds £ 1,454,688 - 1,454,688 - - - - - 1,454,688 1,454,688 |
Endowment fund £ 5,211 375,000 380,211 - - - - - 380,211 380,211 |
2023 Total funds £ 1,459,899 375,000 1,834,899 7,384 511,267 518,651 (161,623) 357,028 2,191,927 2,191,927 357,028 1,454,688 380,211 2,191,927 |
2022 Total funds £ 1,498,323 375,000 1,873,323 11,471 595,331 606,802 (62,993) 543,809 2,417,132 2,417,132 343,819 1,531,254 542,059 2,417,132 |
|---|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.
The notes form part of these financial statements
continued...
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NWL JEWISH DAY SCHOOL (REGISTERED NUMBER: 09941630)
Balance Sheet - continued 31 AUGUST 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 May 2024 and were signed on its behalf by:
Mr A D Landy - Trustee
The notes form part of these financial statements
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NWL JEWISH DAY SCHOOL
Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2023
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Purchase of investment property Interest received Net cash provided by/(used in) investing activities Cash flows from financing activities New loans in year Income attributable to endowment Expenditure attributable to endowment Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2023 £ 73,190 73,190 - - 4,594 4,594 - - (161,848) (161,848) (84,064) 595,331 511,267 |
2022 £ (245,021) (245,021) (9,196) (22,358) 4,719 (26,835) 1 17,150 (6,471) 10,680 (261,176) 856,507 595,331 |
|---|---|---|
The notes form part of these financial statements
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NWL JEWISH DAY SCHOOL
Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2023
| 1. | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Net expenditure for the reporting period (as per the Statement of | ||||
| Financial Activities) | (225,205) | (221,995) | ||
| Adjustments for: | ||||
| Depreciation charges | 38,424 | 36,210 | ||
| Losses on investments | - | (51,850) | ||
| Interest received | (4,594) | (4,719) | ||
| Income attributable to endowment | - | (17,150) | ||
| Expenditure attributable to endowment | 161,848 | 6,471 | ||
| Decrease/(increase) in debtors | 4,087 | (3,492) | ||
| Increase in creditors | 98,630 | 11,504 | ||
| Net cash provided by/(used in) operations | 73,190 | (245,021) | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.9.22 | Cash flow | At 31.8.23 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 595,331 | (84,064) |
511,267 | |
| 595,331 | (84,064) |
511,267 | ||
| Total | 595,331 | (84,064) |
511,267 |
The notes form part of these financial statements
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost Computer equipment - 33% on reducing balance
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
2. DONATIONS AND LEGACIES
| Voluntary contributions Donations Gift aid Grants Extracurricular activities Grants received, included in the above, are as follows: Other grants 3. INVESTMENT INCOME Rents received Deposit account interest 4. RAISING FUNDS Raising donations and legacies Fundraising costs Investment management costs Administrative expenses Property repairs Utilities Depreciation Aggregate amounts |
2023 £ 284,057 90,656 49,366 32,500 4,746 461,325 2023 £ 32,500 2023 £ 35,108 4,594 39,702 2023 £ 7,575 2023 £ 10,290 5,278 1,024 2,605 19,197 26,772 |
2022 £ 276,891 199,040 48,750 52,577 4,494 581,752 2022 £ 52,577 2022 £ 17,150 4,719 21,869 2022 £ - 2022 £ 5,092 - - 1,379 6,471 6,471 |
|---|---|---|
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
5. CHARITABLE ACTIVITIES COSTS
| Direct Costs £ Charitable activities 607,608 6. GRANTS PAYABLE Charitable activities The total grants paid to institutions during the year was as follows: North West London Jewish Day School 7. SUPPORT COSTS Management £ Charitable activities 21,468 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Grant funding of activities Support (see note costs (see 6) note 7) £ £ 59,742 32,110 2023 £ 59,742 2023 £ 67,317 Governance Finance costs £ £ 2,750 7,892 2023 £ 38,424 |
Totals £ 699,460 2022 £ 204,691 2022 £ - Totals £ 32,110 2022 £ 36,211 |
|---|---|---|
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022 other than those disclosed in note 17.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees |
2023 £ 446,057 49,471 55,529 551,057 2023 10 |
2022 £ 483,448 50,219 61,264 |
||
|---|---|---|---|---|
| 594,931 | ||||
| 2022 11 |
| The number of employees whose employee benefits (excluding employer pension costs) exceeded | The number of employees whose employee benefits (excluding employer pension costs) exceeded | £60,000 was: |
|---|---|---|
| 2023 | 2022 | |
| £60,001 - £70,000 | 4 | - |
| £80,001 - £90,000 | 1 | 1 |
| 5 | 1 |
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 £147,589 (2022: £157,103).
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 507,692 74,060 Investment income 4,719 - Total 512,411 74,060 EXPENDITURE ON Raising funds - - Charitable activities Charitable activities 752,851 118,144 Total 752,851 118,144 Net gains on investments - - NET INCOME/(EXPENDITURE) (240,440) (44,084) Transfers between funds (50,000) 50,000 Net movement in funds (290,440) 5,916 RECONCILIATION OF FUNDS Total funds brought forward 634,259 1,525,338 |
Endowment fund £ - 17,150 17,150 6,471 - 6,471 51,850 62,529 - 62,529 479,530 |
Total funds £ 581,752 21,869 603,621 6,471 870,995 877,466 51,850 (221,995) - (221,995) 2,639,127 |
|---|---|---|
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted Endowment fund funds fund £ £ £ TOTAL FUNDS CARRIED FORWARD 343,819 1,531,254 542,059 12. TANGIBLE FIXED ASSETS Fixtures Long and Computer leasehold fittings equipment £ £ £ COST At 1 September 2022 and 31 August 2023 1,686,058 14,335 11,545 DEPRECIATION At 1 September 2022 201,844 6,519 5,252 Charge for year 33,721 - 4,703 At 31 August 2023 235,565 6,519 9,955 NET BOOK VALUE At 31 August 2023 1,450,493 7,816 1,590 At 31 August 2022 1,484,214 7,816 6,293 13. INVESTMENT PROPERTY FAIR VALUE At 1 September 2022 and 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 Fair value at 31 August 2023 is represented by: Valuation in 2023 Cost |
Total funds £ |
|
|---|---|---|
| 2,417,132 | ||
| Totals £ 1,711,938 213,615 38,424 252,039 1,459,899 1,498,323 £ 375,000 375,000 375,000 £ 51,850 323,150 375,000 |
||
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Pensions Other creditors Net wages Accruals and deferred income 16. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Building fund Endowment funds Endowment funds TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Building fund Endowment funds Endowment funds TOTAL FUNDS |
At 1.9.22 £ 343,819 1,531,254 542,059 2,417,132 Incoming resources £ 501,027 - - 501,027 |
2023 £ 7,384 2023 £ 25,799 7,280 114,607 11,019 2,918 161,623 Net movement in funds £ 13,209 (76,566) (161,848) (225,205) Resources expended £ (487,818) (76,566) (161,848) (726,232) |
2022 £ 11,471 2022 £ 16,594 - 5,200 - 41,199 62,993 At 31.8.23 £ 357,028 1,454,688 380,211 2,191,927 Movement in funds £ 13,209 (76,566) (161,848) (225,205) |
|
|---|---|---|---|---|
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.9.21 in funds £ £ Unrestricted funds General fund 634,259 (240,440) Restricted funds Building fund 1,525,338 (44,084) Endowment funds Endowment funds 479,530 62,529 TOTAL FUNDS 2,639,127 (221,995) Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 512,411 (752,851) Restricted funds Building fund 32,501 (76,585) SEN fund 41,559 (41,559) 74,060 (118,144) Endowment funds Endowment funds 17,150 (6,471) TOTAL FUNDS 603,621 (877,466) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.9.21 in funds £ £ Unrestricted funds General fund 634,259 (227,231) Restricted funds Building fund 1,525,338 (120,650) Endowment funds Endowment funds 479,530 (99,319) TOTAL FUNDS 2,639,127 (447,200) |
Transfers between funds £ (50,000) 50,000 - - Gains and losses £ - - - - 51,850 51,850 Transfers between funds £ (50,000) 50,000 - - |
At 31.8.22 £ 343,819 1,531,254 542,059 2,417,132 Movement in funds £ (240,440) (44,084) - (44,084) 62,529 (221,995) At 31.8.23 £ 357,028 1,454,688 380,211 2,191,927 |
|
|---|---|---|---|
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 1,013,438 (1,240,669) Restricted funds Building fund 32,501 (153,151) SEN fund 41,559 (41,559) 74,060 (194,710) Endowment funds Endowment funds 17,150 (168,319) TOTAL FUNDS 1,104,648 (1,603,698) |
Gains and Movement losses in funds £ £ - (227,231) - (120,650) - - - (120,650) 51,850 (99,319) 51,850 (447,200) |
|---|---|
17. RELATED PARTY DISCLOSURES
During the year, £8,970 (2022: £8,270) worth of services was provided to the school by Dayan I. Binstock, a Trustee, out of which £2,740 (2022: £2,070) was outstanding at the year end.
During the year a company owned by one of the trustees was paid £1,498 for consultancy services.
During the year, contributions of £67,317 (2022: £204,690) were paid to North West London Jewish Day School Academy, an Academy with common directors. Within other creditors is an amount of £90,000 owed to the Academy. The charity received contributions of £56,102 (2022: 54,125) from the Academy as a contribution to salary costs. The Academy also uses the premises owned by the charity, rent free.
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