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 2024
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 2024
| 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 16 |
NWL JEWISH DAY SCHOOL
Reference and Administrative Details FOR THE YEAR ENDED 31 AUGUST 2024
TRUSTEES
Dayan I Binstock A H Kosiner A D Landy Rabbi B S Levin Mrs S Taylor C Lossos (resigned 13.2.25) A Richman (appointed 7.1.25)
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
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NWL JEWISH DAY SCHOOL (REGISTERED NUMBER: 09941630)
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2024
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 2024. 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
NWL Jewish Day School is committed to advancing, for the public benefit, the education of children in the United Kingdom. In particular, the charity’s objectives include:
(a) the provision of property to be used as a day school for the general education of boys and girls, provided that instruction in the orthodox Jewish faith forms part of the daily curriculum;
(b) the provision of kosher meals for pupils of the day school and other children of the Jewish faith; and
(c) the undertaking of any other activities which the Trustees deem conducive to or supportive of these aims.
The charity supports the North West London Jewish Day School (the School) by providing premises and raising funds to enable the delivery of high-quality Jewish and general education. It plays a key role in sustaining the Jewish Studies department and contributes towards staffing and operational costs to ensure that religious education remains central to the School’s ethos.
Trustees maintain regular contact with the School's Governing Body, some of whom also serve as Trustees, to review performance, respond to identified needs, and ensure educational standards remain high. Progress is monitored through internal reports and external inspections.
Currently, the charity does not rely on volunteers beyond its Board of Trustees, who continue to contribute their time and expertise on an unpaid basis in support of the charity's mission.
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
Total donations from parents and the wider community were £433,265, a slight decrease from £461,324 in 2023. Investment income rose to £50,387 (2023: £39,702), supported by higher interest rates.
Total expenditure reduced to £610,990 (2023: £699,460), reflecting tighter cost controls. As a result, the net deficit for the year narrowed to £127,338, a marked improvement on the previous year's £225,205. The Trustees are actively managing this position to ensure long-term sustainability while continuing to support the School's educational activities.
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NWL JEWISH DAY SCHOOL (REGISTERED NUMBER: 09941630)
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2024
FINANCIAL REVIEW
Financial position
At the year end, the charity’s net assets stood at £2,064,589 (2023: £2,191,927), which is comprised of:
Unrestricted reserves of £267,606 (2023: £357,028) Restricted funds of £1,416,772 (2023: £1,454,688) Endowment funds of £380,211 (2023: £380,211)
The Trustees aim to maintain sufficient reserves to cover at least six months of operating costs in the absence of new income. We are pleased to report that this objective was achieved during the year.
Looking ahead, the Trustees anticipate a similar level of performance, though we are mindful that the financial needs of the School will continue to grow. We are committed to strengthening our fundraising efforts and exploring new income streams to meet this demand sustainably.
We also acknowledge that broader economic conditions may impact donor giving. In response, the charity is actively reviewing its financial strategy to mitigate this risk through enhanced donor engagement, long-term pledges, and prudent cost management, ensuring continued support for the School's vital educational mission.
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 29 May 2025 and signed on its behalf by:
A D Landy - Trustee
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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 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. 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
29 May 2025
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NWL JEWISH DAY SCHOOL
Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 AUGUST 2024
| 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 INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 433,265 50,387 483,652 14,793 558,281 573,074 (89,422) 357,028 267,606 |
Restricted funds £ - - - 2,605 35,311 37,916 (37,916) 1,454,688 1,416,772 |
Endowment fund £ - - - - - - - 380,211 380,211 |
2024 Total funds £ 433,265 50,387 483,652 17,398 593,592 610,990 (127,338) 2,191,927 2,064,589 |
2023 Total funds £ 461,324 39,702 501,026 26,771 699,460 726,231 (225,205) 2,417,132 2,191,927 |
|---|---|---|---|---|---|
The notes form part of these financial statements
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NWL JEWISH DAY SCHOOL (REGISTERED NUMBER: 09941630)
Balance Sheet 31 AUGUST 2024
| 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 £ - - - - 349,271 349,271 (81,665) 267,606 267,606 267,606 |
Restricted funds £ 1,416,772 - 1,416,772 - - - - - 1,416,772 1,416,772 |
Endowment fund £ 5,211 375,000 380,211 - - - - - 380,211 380,211 |
2024 Total funds £ 1,421,983 375,000 1,796,983 - 349,271 349,271 (81,665) 267,606 2,064,589 2,064,589 267,606 1,416,772 380,211 2,064,589 |
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 |
|---|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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 2024
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 29 May 2025 and were signed on its behalf by:
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 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash (used in)/provided by operating activities Cash flows from investing activities Interest received Net cash provided by investing activities Cash flows from financing activities Expenditure attributable to endowment Net cash provided by/(used in) 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 |
2024 £ (185,380) (185,380) 23,384 23,384 - - (161,996) 511,267 349,271 |
2023 £ 73,190 73,190 4,594 4,594 (161,848) (161,848) (84,064) 595,331 511,267 |
|---|---|---|
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 2024
| 1. | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net expenditure for the reporting period (as per the Statement of | ||||
| Financial Activities) | (127,338) | (225,205) | ||
| Adjustments for: | ||||
| Depreciation charges | 37,916 | 38,424 | ||
| Interest received | (23,384) | (4,594) | ||
| Expenditure attributable to endowment | - | 161,848 | ||
| Decrease in debtors | 7,384 | 4,087 | ||
| (Decrease)/increase in creditors | (79,958) | 98,630 | ||
| Net cash (used in)/provided by operations | (185,380) | 73,190 | ||
| 2. | ANALYSIS OF CHANGES IN NET FUNDS | |||
| At 1.9.23 | Cash flow | At 31.8.24 | ||
| £ | £ | £ | ||
| Net cash | ||||
| Cash at bank | 511,267 | (161,996) |
349,271 | |
| 511,267 | (161,996) |
349,271 | ||
| Total | 511,267 | (161,996) |
349,271 |
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 2024
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.
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 2024
| 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 Insurance Property repairs Utilities Depreciation Aggregate amounts |
2024 £ 316,971 53,161 60,937 - 2,196 433,265 2024 £ - 2024 £ 27,003 23,384 50,387 2024 £ 306 2024 £ 640 1,598 12,078 171 2,605 17,092 17,398 |
2023 £ 284,057 90,655 49,366 32,500 4,746 461,324 2023 £ 32,500 2023 £ 35,108 4,594 39,702 2023 £ 7,575 2023 £ 8,838 1,451 5,278 1,024 2,605 19,196 26,771 |
|---|---|---|
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
5. CHARITABLE ACTIVITIES COSTS
| Charitable activities 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 16,342 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Support Direct costs (see Costs note 7) £ £ 563,181 30,411 2024 £ - 2024 £ - Governance Finance costs £ £ 284 13,785 2024 £ 37,916 |
Totals £ 593,592 |
Totals £ 593,592 |
|---|---|---|---|
| 2023 £ 59,742 |
|||
| 2023 £ 67,317 |
|||
| Totals £ 30,411 |
|||
| 2023 £ 38,424 |
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023 other than those disclosed in note 17.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
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 |
2024 £ 420,991 36,995 43,846 501,832 2024 7 |
2023 £ 446,057 49,471 55,529 |
||
|---|---|---|---|---|
| 551,057 | ||||
| 2023 10 |
| 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: |
|---|---|---|
| 2024 | 2023 | |
| £60,001 - £70,000 | 3 | 4 |
| £80,001 - £90,000 | 1 | 1 |
| 4 | 5 |
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 £150,540 (2023: £160,608).
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities Charitable activities Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 461,324 39,702 501,026 24,166 463,651 487,817 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 |
Total funds £ 461,324 39,702 501,026 26,771 699,460 726,231 (225,205) 2,417,132 2,191,927 |
|---|---|---|---|---|
continued...
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
| 12. TANGIBLE FIXED ASSETS Long leasehold £ COST At 1 September 2023 and 31 August 2024 1,686,058 DEPRECIATION At 1 September 2023 235,565 Charge for year 33,721 At 31 August 2024 269,286 NET BOOK VALUE At 31 August 2024 1,416,772 At 31 August 2023 1,450,493 13. INVESTMENT PROPERTY FAIR VALUE At 1 September 2023 and 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023 Fair value at 31 August 2024 is represented by: Valuation in 2024 Cost 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income |
Fixtures and fittings £ 14,335 6,519 2,605 9,124 5,211 7,816 |
Computer equipment £ 11,545 9,955 1,590 11,545 - 1,590 2024 £ - |
Totals £ 1,711,938 252,039 37,916 289,955 1,421,983 1,459,899 £ 375,000 375,000 375,000 £ 51,850 323,150 375,000 2023 £ 7,384 |
Totals £ 1,711,938 252,039 37,916 289,955 1,421,983 1,459,899 £ 375,000 375,000 375,000 £ 51,850 323,150 375,000 2023 £ 7,384 |
|---|---|---|---|---|
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
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 |
2024 £ 10,516 1,542 69,607 - - 81,665 |
2023 £ 25,799 7,280 114,607 11,019 2,918 161,623 |
|---|---|---|
| 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 TOTAL FUNDS |
At 1.9.23 £ 357,028 1,454,688 380,211 2,191,927 Incoming resources £ 483,652 - 483,652 |
Net movement in funds £ (89,422) (37,916) - (127,338) Resources expended £ (573,074) (37,916) (610,990) |
At 31.8.24 £ 267,606 1,416,772 380,211 2,064,589 Movement in funds £ (89,422) (37,916) (127,338) |
|
|---|---|---|---|---|
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NWL JEWISH DAY SCHOOL
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2024
16. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.9.22 £ Unrestricted funds General fund 343,819 Restricted funds Building fund 1,531,254 Endowment funds Endowment funds 542,059 TOTAL FUNDS 2,417,132 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 501,026 Restricted funds Building fund - Endowment funds Endowment funds - TOTAL FUNDS 501,026 |
Net movement in funds £ 13,209 (76,566) (161,848) (225,205) Resources expended £ (487,817) (76,566) (161,848) (726,231) |
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) |
|
|---|---|---|---|
17. RELATED PARTY DISCLOSURES
During the year, services valued at £3,370 (2023: £14,093) were provided to the School by trustees.
At year end, £64,407 (2023: £109,407) was owed to North West London Jewish Day School Academy, an associated Academy with common directors. The Academy contributed £33,500 (2023: £60,551) towards staffing costs. The Academy also occupies the charity-owned premises on a rent-free basis, in accordance with the charity’s mission to facilitate access to education.
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