COMPANY REGISTRATION NUMBER: 10897385 CHARITY REGISTRATION NUMBER: 1183991
Ateres Elisheva Company Limited by Guarantee Unaudited Financial Statements
31 August 2022
HAFFNER HOFF LTD
Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
Ateres Elisheva
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2022
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 8 |
| Statement of financial position | 9 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 |
Ateres Elisheva
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2022
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2022.
Reference and administrative details
Registered charity name Ateres Elisheva Charity registration number 1183991 Company registration number 10897385 Principal office and registered 24 Richmond Avenue office Prestwich Manchester M25 0LZ
The trustees
N Emanuel M Lobenstein D Weisfish Independent examiner Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
- 1 -
Ateres Elisheva
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Structure, governance and management
Governing Document
Ateres Elisheva is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 03 August 2017 as a company and the company number is 10897385. It was registered as a charity on 20 June 2019 with a charity number being 1183991.
Governing Body
The trustees of the Charity are legally responsible for the overall management of the school. The day to day running of the school is undertaken by the Principal and the senior teaching staff. The Principal is aware of the need to follow best practice and is actively reviewing the organisational structure of the school and the method by which new trustees are appointed. This ongoing review has concluded that the organisational structures in place are sufficient and robust to take the school into the future. The Trustees are kept informed of the running of the school and new Trustees will be appointed when and if the need arises.
Recruitment and appointment of new trustees would be in line with the Memorandum and Articles of Association and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
There is no chief executive officer. The day to day affairs are undertaken by Mr N Emanuel on behalf of the trustees. All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related party transactions are disclosed as applicable in the notes to the accounts. The arrangements for setting the pay of the charity’s employees are the sole domain of the trustees.
Training and induction of trustees is applied as applicable.
Risk review
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
The risks faced by the trust are principally operational risks from ineffective running of the school. These risks are managed by the trustees ensuring the right staff are utilised and the right policies are implemented.
Report back and review procedures strengthen these safeguards to ensure public benefit is achieved from all aspects of the school management.
Risk Management
The process of examining the risks to which the Charity is exposed is ongoing and the trustees are planning to further develop systems to monitor and control these risks in order to lessen their potential impact on the Charity.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities.
- 2 -
Ateres Elisheva
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Objectives and activities
Charitable Objects
The Charity’s objects, as set out in the Memorandum and Articles of Association, are for the public benefit to promote the education of people of all ages in the North of England in such ways as the charity trustees think fit, including the running of a school, awarding to such persons scholarships, maintenance allowances or grants; or by grants to charities or other organisations worldwide that provide education.
Aims
The main aim of the Charity continued to be the provision of educational facilities to Jewish girls of primary school age.
Objectives for the year
This year, the focus has been on the continued achievement of academic performance and growth of the school.
Principal Activities of the year
The school provided education to 111 girls aged 2 to 7.
Grant making policy
The charity would give out grants in line with the above objects.
There were no individual or institutional grants made during the year.
The trustees consider they have met the public benefit test and outline these achievements below.
The trustees consider the shorter term aims to be similar to the longer term aims and assess the achievement of the charity in the same way.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
- 3 -
Ateres Elisheva
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Achievements and performance
A summary of the results and movements of funds for the year are shown in the Statement of Financial Activities.
Fundraising costs incurred during the year are as disclosed in the notes to the accounts.
The charity has support and governance costs comprising professional fees, administrative wages and sundry other costs.
There were no investments made during the year.
Related party transactions in the reporting period are as disclosed in the notes to the accounts.
There was an overall net income and net movement in funds for the year amounting to £68,779.
- 4 -
Ateres Elisheva
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2022
Financial review
Results for the year
Donation income decreased by £16,945.
Other income in respect of contributions, childcare and creche fees as well as other income rose by £88,199.
Educational expenditure increased this year owing to another class having ben added to the school.
Reserves Policy
The trustees have reviewed the level of reserves held by the Charity. The review has concluded that to allow the Charity to be managed efficiently and to provide a buffer for uninterrupted services the level of free reserves, being those not tied up in fixed assets, needs to be maintained at not less than six months expenditure.
The free reserves stand at £89,019, being the net current assets of the charity, all of which are unrestricted.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgments and accounting estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' annual report and the strategic report were approved on 19 May 2023 and signed on behalf of the board of trustees by:
N Emanuel Trustee
- 5 -
Ateres Elisheva
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ateres Elisheva
Year ended 31 August 2022
I report to the trustees on my examination of the financial statements of Ateres Elisheva ('the charity') for the year ended 31 August 2022.
Responsibilities and basis of report
As the trustees of the company (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 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 the 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 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 the Institute of Chartered Accountants in England and Wales (ICAEW), 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 charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
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
-
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).
- 6 -
Ateres Elisheva
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Ateres Elisheva (continued)
Year ended 31 August 2022
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.
Mr Howard Schwalbe ACA
Independent Examiner
2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL
19 May 2023
- 7 -
Ateres Elisheva
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 51,613 | 186,136 | 237,749 | 204,504 |
| Investment income | 6 | 51 | – | 51 | 11 |
| Other income | 7 | 375,102 | – | 375,102 | 286,901 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 426,766 | 186,136 | 612,902 | 491,416 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 357,987 | 186,136 | 544,123 | 453,767 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 357,987 | 186,136 | 544,123 | 453,767 | |
| ================================ | ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income and net movement in | funds | 68,779 | – | 68,779 | 37,649 |
| ================================ | ================================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 60,978 | – | 60,978 | 23,330 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 129,757 | – | 129,757 | 60,978 | |
| ================================ | ================================ | ================================ | ================================ |
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 12 to 21 form part of these financial statements.
- 8 -
Ateres Elisheva
Company Limited by Guarantee
Statement of Financial Position
31 August 2022
| 2022 | 2021 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 79,419 | 14,526 |
| Current assets | |||
| Debtors | 16 | 21,684 | 4,986 |
| Cash at bank and in hand | 68,801 | 104,559 | |
| ---------------------------- | -------------------------------- | ||
| 90,485 | 109,545 | ||
| Creditors: amounts falling due within one year | 17 | 1,466 | 14,867 |
| ---------------------------- | -------------------------------- | ||
| Net current assets | 89,019 | 94,678 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 168,438 | 109,204 | |
| Creditors: amounts falling due after more than one year | 18 | 38,681 | 48,225 |
| -------------------------------- | -------------------------------- | ||
| Net assets | 129,757 | 60,979 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 129,757 | 60,978 | |
| -------------------------------- | ---------------------------- | ||
| Total charity funds | 20 | 129,757 | 60,978 |
| ================================ | ============================ |
For the year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page.
The notes on pages 12 to 21 form part of these financial statements.
- 9 -
Ateres Elisheva
Company Limited by Guarantee
Statement of Financial Position (continued)
31 August 2022
These financial statements were approved by the board of trustees and authorised for issue on 19 May 2023, and are signed on behalf of the board by:
N Emanuel Trustee
The notes on pages 12 to 21 form part of these financial statements.
- 10 -
Ateres Elisheva
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 August 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 68,779 | 37,649 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 7,445 | 3,044 |
| Other interest receivable and similar income | (51) | (11) |
| Interest payable and similar charges | 1,105 | – |
| Accrued expenses | 126 | 1 |
| Changes in: | ||
| Trade and other debtors | (16,698) | (4,986) |
| Trade and other creditors | (13,527) | (45,558) |
| ---------------------------- | ---------------------------- | |
| Cash generated from operations | 47,179 | (9,861) |
| Interest paid | (1,105) | – |
| Interest received | 51 | 11 |
| ---------------------------- | ----------------------- | |
| Net cash from/(used in) operating activities | 46,125 | (9,850) |
| ============================ | ======================= | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (72,338) | (12,183) |
| ---------------------------- | ---------------------------- | |
| Net cash used in investing activities | (72,338) | (12,183) |
| ============================ | ============================ | |
| Cash flows from financing activities | ||
| Proceeds from borrowings | (9,544) | (1,775) |
| ---------------------------- | ---------------------------- | |
| Net cash used in financing activities | (9,544) | (1,775) |
| ============================ | ============================ | |
| Net decrease in cash and cash equivalents | (35,757) | (23,808) |
| Cash and cash equivalents at beginning of year | 104,559 | 128,367 |
| -------------------------------- | -------------------------------- | |
| Cash and cash equivalents at end of year | 68,802 | 104,559 |
| ================================ | ================================ |
The notes on pages 12 to 21 form part of these financial statements.
- 11 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2022
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 24 Richmond Avenue, Prestwich, Manchester, M25 0LZ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements did not require management to make judgements, estimates or assumptions that affect the amounts reported.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
- 12 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
- 13 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 15% straight line |
|---|---|---|
| Equipment | - | 15% straight line |
| Portacabin | - | 5% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
- 14 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Ateres Elisheva is a company limited by guarantee and does not have a share capital. In the event of the company being wound up, members are required to contribute an amount not exceeding £10.
- 15 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 50,562 | – | 50,562 | ||
| Grants | |||||
| Salford City Council | – | 161,838 | 161,838 | ||
| Job Retention Scheme | 1,051 | – | 1,051 | ||
| Security Grants | – | 24,298 | 24,298 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 51,613 | 186,136 | 237,749 | |||
| ============================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Donations | |||||
| Donations | 33,617 | – | 33,617 | ||
| Grants | |||||
| Salford City Council | – | 110,941 | 110,941 | ||
| Job Retention Scheme | 37,492 | – | 37,492 | ||
| Security Grants | – | 22,454 | 22,454 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 71,109 | 133,395 | 204,504 | |||
| ============================ | ================================ | ================================ | |||
| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 51 | 51 | 11 | 11 | |
| ============== | ============== | ============== | ============== | ||
| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Childcare fees | 341,758 | 341,758 | 233,690 | 233,690 | |
| Creche fees | 10,284 | 10,284 | 30,489 | 30,489 | |
| Voluntary contributions | 15,347 | 15,347 | 11,893 | 11,893 | |
| Other income | 7,713 | 7,713 | 10,829 | 10,829 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| 375,102 | 375,102 | 286,901 | 286,901 | ||
| ================================ | ================================ | ================================ | ================================ |
- 16 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
8. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Educational expenditure | 313,959 | 186,136 | 500,095 |
| Support costs | 44,028 | – | 44,028 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 357,987 | 186,136 | 544,123 | |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2021 | |
| £ | £ | £ | |
| Educational expenditure | 288,865 | 133,395 | 422,260 |
| Support costs | 31,508 | – | 31,507 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 320,373 | 133,395 | 453,767 | |
| ================================ | ================================ | ================================ |
9. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support |
Total funds | Total fund | |
| directly | costs |
2022 | 2021 | |
| £ | £ | £ | £ | |
| Educational expenditure | 500,095 | 38,334 |
538,429 | 452,196 |
| Governance costs | – | 5,694 |
5,694 | 1,571 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 500,095 | 44,028 |
544,123 | 453,767 | |
| ================================ | ============================ | ================================ | ================================ | |
| Analysis of support costs | ||||
| Analysis of | ||||
| support costs | Total 2022 | Total 2021 | ||
| £ | £ | £ | ||
| Staff costs | 28,790 | 28,790 | 23,574 | |
| General office | 9,544 | 9,544 | 6,361 | |
| Governance costs | 5,694 | 5,694 | 1,572 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| 44,028 | 44,028 | 31,507 | ||
| ============================ | ============================ | ============================ | ||
| Net income | ||||
| Net income is stated after charging/(crediting): | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 7,445 | 3,044 | ||
| ======================= | ======================= |
10. Analysis of support costs
11. Net income
- 17 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
12. Independent examination fees
| Independent examination fees | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 1,386 | 1,260 |
| ======================= | ======================= |
13. Staff costs
The average head count of employees during the year was 67 (2021: 59). The average number of full-time equivalent employees during the year is analysed as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Number of administrative staff | 5 | 4 |
| Number of teaching staff | 62 | 55 |
| -------------- | -------------- | |
| 67 | 59 | |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
15. Tangible fixed assets
| Fixtures and | ||||
|---|---|---|---|---|
| fittings | Equipment | Portacabin | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| At 1 September 2021 | 20,289 | – | – | 20,289 |
| Additions | 2,983 | 4,874 | 64,481 | 72,338 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| At 31 August 2022 | 23,272 | 4,874 | 64,481 | 92,627 |
| ============================ | ======================= | ============================ | ============================ | |
| Depreciation | ||||
| At 1 September 2021 | 5,763 | – | – | 5,763 |
| Charge for the year | 3,490 | 731 | 3,224 | 7,445 |
| ---------------------------- | ----------------------- | ---------------------------- | ---------------------------- | |
| At 31 August 2022 | 9,253 | 731 | 3,224 | 13,208 |
| ============================ | ======================= | ============================ | ============================ | |
| Carrying amount | ||||
| At 31 August 2022 | 14,019 | 4,143 | 61,257 | 79,419 |
| ============================ | ======================= | ============================ | ============================ | |
| At 31 August 2021 | 14,526 | – | – | 14,526 |
| ============================ | ======================= | ============================ | ============================ |
- 18 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
16. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 11,107 | 4,873 |
| Other debtors | 10,577 | 113 |
| ---------------------------- | ----------------------- | |
| 21,684 | 4,986 | |
| ============================ | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Accruals and deferred income | 1,386 | 1,260 |
| Other creditors | 80 | 13,607 |
| ----------------------- | ---------------------------- | |
| 1,466 | 14,867 | |
| ======================= | ============================ | |
| Creditors: amounts falling due after more than one year | ||
| 2022 | 2021 | |
| £ | £ | |
| Bank loans and overdrafts | 38,681 | 48,225 |
| ============================ | ============================ |
17. Creditors: amounts falling due within one year
18. Creditors: amounts falling due after more than one year
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £479 (2021: £601).
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At 01 | At 31 | |||
| Sept 2021 | Income | Expenditure | Aug 2022 | |
| £ | £ | £ | £ | |
| General funds | 60,978 | 426,766 | (357,987) | 129,757 |
| ============================ | ================================ | ================================ | ================================ | |
| At 01 | At 31 | |||
| Sept 2020 | Income | Expenditure | Aug 2021 | |
| £ | £ | £ | £ | |
| General funds | 23,330 | 358,021 | (320,373) | 60,978 |
| ============================ | ================================ | ================================ | ============================ |
- 19 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
20. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | 01 | At 31 | |||
| Sept 2021 | Income | Expenditure | Aug 2022 | ||
| £ | £ | £ | £ | ||
| Restricted fund - grants receivable | – | 186,136 | (186,136) | – |
|
| ============== | ================================ | ================================ | ============== | ||
| At | 01 | At 31 | |||
| Sept 2020 | Income | Expenditure | Aug 2021 | ||
| £ | £ | £ | £ | ||
| Restricted fund - grants receivable | – | 133,395 | (133,395) | – |
|
| ============== | ================================ | ================================ | ============== | ||
| Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2022 | ||||
| £ | £ | ||||
| Tangible fixed assets | 79,419 | 79,419 | |||
| Current assets | 90,485 | 90,485 | |||
| Creditors less than 1 year | (1,466) | (1,466) |
|||
| Creditors greater than 1 year | (38,681) | (38,681) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 129,757 | 129,757 | |||
| ================================ | ================================ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2021 | ||||
| £ | £ | ||||
| Tangible fixed assets | 14,526 | 14,526 | |||
| Current assets | 109,545 | 109,545 | |||
| Creditors less than 1 year | (14,867) | (14,867) |
|||
| Creditors greater than 1 year | (48,225) | (48,225) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 60,979 | 60,979 | |||
| ================================ | ================================ | ||||
| Analysis of changes in net debt | |||||
| At | At | ||||
| 1 Sep 2021 | Cash flows | 31 Aug 2022 | |||
| £ | £ | £ | |||
| Cash at bank and in hand | 104,559 | (35,758) | 68,801 |
||
| Debt due after one year | (48,225) | 9,544 | (38,681) | ||
| -------------------------------- | ---------------------------- | ---------------------------- | |||
| 56,334 | (26,214) | 30,120 |
|||
| ================================ | ============================ | ============================ |
21. Analysis of net assets between funds
22. Analysis of changes in net debt
- 20 -
Ateres Elisheva
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2022
23. Related parties
Mrs M Emanuel, wife of Mr N Emanuel, a trustee of Ateres Elisheva, is the daughter of Mr J Lewin.
Mr J Lewin lent various sums to Ateres Elisheva on an interest free basis in previous periods. The full amount was paid back by the charity including an accidental overpayment of £2,725.
Mrs M Emanuel was paid £6,910 for administrative work performed for the charity during the year. Mr N Emanuel was paid £6,600 for administrative work performed for the charity during the year. The wages were set by the other trustees and were in line with normal wages.
24. Taxation
Ateres Elisheva is a registered charity and therefore is not liable to income tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
- 21 -