2021-08-31-accounts

COMPANY REGISTRATION NUMBER: 12136309 CHARITY REGISTRATION NUMBER: 1188500

Bnos Margulis Wiznitz Company Limited by Guarantee Unaudited Financial Statements

31 August 2021

HAFFNER HOFF LTD

Accountants 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

Bnos Margulis Wiznitz

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2021

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	7
Statement of financial activities (including income and
expenditure account)	9
Statement of financial position	10
Notes to the financial statements	12

Bnos Margulis Wiznitz

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 August 2021

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 2021.

Reference and administrative details

Registered charity name Bnos Margulis Wiznitz Charity registration number 1188500 Company registration number 12136309 Principal office and registered 2nd Floor - Parkgates Bury New Road office Prestwich Manchester Lancashire United Kingdom M25 0TL The trustees Mr. Adler Mr. April Mr. Merlin Independent examiner Mr Howard Schwalbe ACA 2nd Floor - Parkgates Bury New Road Prestwich Manchester M25 0TL

- 1 -

Bnos Margulis Wiznitz

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Structure, governance and management

Governing Document

Bnos Margulis Wiznitz is constituted by Memorandum and Articles of Association and is a company limited by guarantee. It was incorporated on 02 August 2019 as a company and the company number is 12136309. It was registered as a charity on 12 March 2020 with a charity number being 1188500.

Governing Body

The trustees of the Charity are legally responsible for the overall management of the school. day to day running of the school is undertaken by the Head Mistress Mrs. R. Jung and the senior teaching staff. They are aware of the need to follow best practice and are 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.

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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

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 is the provision of educational facilities to Jewish girls of primary school age.

Objectives for the year

This year being the first, the focus has been on creating an environment fit to a achieve a high standard of academic performance and personal growth for the pupils, the school has received positive feedback from parents.

During the year the school received a favourable pre-registration Ofsted report and was deemed "likely to meet the requirements of the schedule to the Education (Independent School Standards) Regulations 2014 and associated requirements".

Principal Activities of the year

The school provided education to 66 girls aged 3 to 8.

Grant making policy

The charity would give out grants in line with the above objects.

There were no grants paid to individuals or institutions 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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Achievements and performance

The trustees are pleased to report a successful first year for the school.

During the year the school received £159,485 in Child care, £42,249 in donations, £56,270 from the J.R.S. Scheme and £7,547 in other income.

The school also received £146,467 in funding from Salford City Council as well as a security grant totalling £20,344 from CST, that has been accounted for as restricted income.

The expenses incurred in the running of the school amounted to £383,722.

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.

There were no related party transactions during the year.

There was an overall net income and net movement in funds for the year amounting to £48,448.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

Financial review

Reserves Policy

The Unrestricted Fund represents the unrestricted funds arising from past operating results. The school is currently distributing all its income and intends to make up the deficit in reserves through its fundraising efforts in the following year.

The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against expenses and will aim in future to have more reserves in hand for any eventuality.

The Unrestricted Fund is in deficit and the trustees consider this to be acceptable as they are confident that the shortfall will be made up through fundraising in future periods.

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 three months expenditure.

The free reserves being the net current assets stand at £35,419, all of which are unrestricted.

Coronavirus

The effect of coronavirus has been mitigated by the JRS Scheme and the bounce back loan taken out last year. The trustees do not consider coronavirus will affect the going concern of the charity.

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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 August 2021

The trustees' annual report and the strategic report were approved on 13 January 2022 and signed on behalf of the board of trustees by:

Mr. Merlin Trustee

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Bnos Margulis Wiznitz

Year ended 31 August 2021

I report to the trustees on my examination of the financial statements of Bnos Margulis Wiznitz ('the charity') for the year ended 31 August 2021.

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:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Bnos Margulis Wiznitz (continued)

Year ended 31 August 2021

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

13 Jan 22

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 August 2021

					Period from
					2 Aug 19 to
		Year	to 31 Aug 21		31 Aug 20
		Unrestricted	Restricted
		funds	fundsTotal funds		Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	42,249	166,521	208,770	79,558
Investment income	6	7,547	–	7,547	4
Other income	7	215,853	–	215,853	110,635
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Total income		265,649	166,521	432,170	190,197
		================================	================================	================================	================================
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies	8	–	–	–	700
Expenditure on charitable activities	9,10	217,201	166,521	383,722	235,704
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Total expenditure		217,201	166,521	383,722	236,404
		================================	================================	================================	================================
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Net income/(expenditure) and net
movement in funds		48,448	–	48,448	(46,207)
		================================	================================	================================	================================
Reconciliation of funds
Total funds brought forward		(46,207)	–	(46,207)	–
		--------------------------------	--------------------------------	--------------------------------	--------------------------------
Total funds carried forward		2,241	–	2,241	(46,207)
		================================	================================	================================	================================

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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Statement of Financial Position

31 August 2021

		2021	2020
	Note	£	£
Fixed assets
Tangible fixed assets	16	16,822	12,032
Current assets
Debtors	17	24,900	10,010
Cash at bank and in hand		38,674	12,821
		----------------------------	----------------------------
		63,574	22,831
Creditors: amounts falling due within one year	18	28,155	31,070
		----------------------------	----------------------------
Net current assets		35,419	(8,239)
		----------------------------	----------------------------
Total assets less current liabilities		52,241	3,793
Creditors: amounts falling due after more than one year	19	50,000	50,000
		----------------------------	----------------------------
Net assets		2,241	(46,207)
		============================	============================
Funds of the charity
Unrestricted funds		2,241	(46,207)
		-----------------------	----------------------------
Total charity funds	21	2,241	(46,207)
		=======================	============================

For the year ending 31 August 2021 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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Statement of Financial Position (continued)

31 August 2021

These financial statements were approved by the board of trustees and authorised for issue on 13 Jan 22, and are signed on behalf of the board by:

Mr. Merlin Trustee

The notes on pages 12 to 21 form part of these financial statements.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2021

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 2nd Floor - Parkgates Bury New Road, Prestwich, Manchester, Lancashire, United Kingdom, M25 0TL.

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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

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

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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

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

Bnos Margulis Wiznitz 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.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

5. Donations and legacies

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Donations
Donations		42,249	–	42,249
Grants
Salford City Council		–	146,177	146,177
CST Grants		–	20,344	20,344
		----------------------------	--------------------------------	--------------------------------
		42,249	166,521	208,770
		============================	================================	================================
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Donations
Donations		2,600	–	2,600
Grants
Salford City Council		–	76,958	76,958
CST Grants		–	–	–
		-----------------------	----------------------------	----------------------------
		2,600	76,958	79,558
		=======================	============================	============================
Investment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Bank interest receivable	7	7	4	4
Rental Income	7,540	7,540	–	–
	-----------------------	-----------------------	--------------	--------------
	7,547	7,547	4	4
	=======================	=======================	==============	==============
Other income
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Childcare		159,485	–	159,485
JRS income		56,270	–	56,270
Extra Lessons		98	–	98
		--------------------------------	--------------	--------------------------------
		215,853	–	215,853
		================================	==============	================================

6. Investment income

7. Other income

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

7. Other income (continued)

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Childcare	86,508	–	86,508
JRS income	–	24,127	24,127
Extra Lessons	–	–	–
	----------------------------	----------------------------	--------------------------------
	86,508	24,127	110,635
	============================	============================	================================

8. Costs of raising donations and legacies

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Costs of raising donations and
legacies	–	–	700	700
	==============	==============	==============	==============
Expenditure on charitable activities	by fund type
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Educational expenditure		212,206	166,521	378,727
Support costs		4,995	–	4,995
		--------------------------------	--------------------------------	--------------------------------
		217,201	166,521	383,722
		================================	================================	================================
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Educational expenditure		127,843	101,085	228,928
Support costs		6,776	–	6,776
		--------------------------------	--------------------------------	--------------------------------
		134,619	101,085	235,704
		================================	================================	================================

9. Expenditure on charitable activities by fund type

10. Expenditure on charitable activities by activity type

	Activities
	undertaken	Support	Total funds	Total fund
	directly	costs	2021	2020
	£	£	£	£
Educational expenditure	378,727	3,870	382,597	232,946
Governance costs	–	1,125	1,125	2,758
	--------------------------------	-----------------------	--------------------------------	--------------------------------
	378,727	4,995	383,722	235,704
	================================	=======================	================================	================================

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

11. Analysis of support costs

		Analysis of
		support costs	Total 2021	Total 2020
		£	£	£
	General office	3,870	3,870	4,018
	Governance costs	1,125	1,125	2,758
		-----------------------	-----------------------	-----------------------
		4,995	4,995	6,776
		=======================	=======================	=======================
12.	Net income/(expenditure)
	Net income/(expenditure) is stated after charging/(crediting):
			2021	2020
			£	£
	Depreciation of tangible fixed assets		4,166	2,123
			=======================	=======================
13.	Independent examination fees
				Period from
			Year to	2 Aug 19 to
			31 Aug 21	31 Aug 20
			£	£
	Fees payable to the independent examiner for:
	Independent examination of the financial statements		900	900
			==============	==============

14. Staff costs

The average head count of employees during the year was 31 (2020: 26). The average number of full-time equivalent employees during the year is analysed as follows:

	2021	2020
	No.	No.
Head Mistress	1	1
Other Staff	30	25
	--------------	--------------
	31	26
	==============	==============

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

16. Tangible fixed assets

		Fixtures and
		fittings	Equipment	Total
		£	£	£
	Cost
	At 1 September 2020	4,069	10,086	14,155
	Additions	2,673	6,283	8,956
		-----------------------	----------------------------	----------------------------
	At 31 August 2021	6,742	16,369	23,111
		=======================	============================	============================
	Depreciation
	At 1 September 2020	610	1,513	2,123
	Charge for the year	1,685	2,481	4,166
		-----------------------	----------------------------	----------------------------
	At 31 August 2021	2,295	3,994	6,289
		=======================	============================	============================
	Carrying amount
	At 31 August 2021	4,447	12,375	16,822
		=======================	============================	============================
	At 31 August 2020	3,459	8,573	12,032
		=======================	============================	============================
17.	Debtors
			2021	2020
			£	£
	Other debtors		24,900	10,010
			============================	============================
18.	Creditors: amounts falling due within one year
			2021	2020
			£	£
	Accruals and deferred income		900	900
	Social security and other taxes		1,300	2,923
	Other creditors		25,955	27,247
			----------------------------	----------------------------
			28,155	31,070
			============================	============================
19.	Creditors: amounts falling due after more than one year
			2021	2020
			£	£
	Bank loans and overdrafts		50,000	50,000
			============================	============================

20. 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 £433 (2020: £390).

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

21. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At			At 31
	Sept 2020	Income	Expenditure	Aug 2021
	£	£	£	£
General funds	(46,207)	265,649	(217,201)	2,241
	============================	================================	================================	=======================
	At 02			At 31
	Aug 2019	Income	Expenditure	Aug 2020
	£	£	£	£
General funds	–	89,112	(135,319)	(46,207)
	==============	============================	================================	============================
Restricted funds
	At 01			At 31
	Sept 2020	Income	Expenditure	Aug 2021
	£	£	£	£
Restricted fund - grants receivable	–	166,521	(166,521)	–
	==============	================================	================================	==============
	At 02			At 31
	Aug 2019	Income	Expenditure	Aug 2020
	£	£	£	£
Restricted fund - grants receivable	–	101,085	(101,085)	–
	==============	================================	================================	==============

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Bnos Margulis Wiznitz

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2021

22. Analysis of net assets between funds

	Unrestricted	Total Funds
	Funds	2021
	£	£
Tangible fixed assets	16,822	16,822
Current assets	63,574	63,574
Creditors less than 1 year	(28,155)	(28,155)
Creditors greater than 1 year	(50,000)	(50,000)
	----------------------------	----------------------------
Net assets	2,241	2,241
	============================	============================
	Unrestricted	Total Funds
	Funds	2020
	£	£
Tangible fixed assets	12,032	12,032
Current assets	22,831	22,831
Creditors less than 1 year	(31,070)	(31,070)
Creditors greater than 1 year	(50,000)	(50,000)
	----------------------------	----------------------------
Net assets	(46,207)	(46,207)
	============================	============================

23. Taxation

Bnos Margulis Wiznitz 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.

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