REGISTERED COMPANY NUMBER: 11705200 (England and Wales) REGISTERED CHARITY NUMBER: 1189564
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
FOR
ATERES BEIS YAAKOV LIMITED
Weissbraun Emanuel Chartered Accountants 220 The Vale Golders Green London NW11 8SR
ATERES BEIS YAAKOV LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Cash Flow Statement | 6 |
| Notes to the Cash Flow Statement | 7 |
| Notes to the Financial Statements | 8 to 12 |
ATERES BEIS YAAKOV LIMITED (REGISTERED NUMBER: 11705200)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022
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 30 November 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and aims
The charitable objects are:
i) The advancement of Orthodox Jewish religious education and education in general primarily but not exclusively by establishing, maintaining and managing a nursery and primary school for Jewish girls in the North West London area. ii) The advancement of such other objects as are for the benefit of the public and are charitable according to English law.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
STRATEGIC REPORT Achievement and performance
Charitable activities
The trustees are pleased to report that since its establishment the nursery and school have continued to expand and provides general and religious education to a growing number of pupils in an environment where they feel safe and protected.
Financial review
Financial position
The charity received fees, grants and donations from parents and the wider community of £643,652 (2021: £375,808).
Total expenditure was £638,428 (2021: £349,555) which reflects the continued growth of the school. This gave the charity a net surplus for the year of £5,227 (2021: £26,253).
Total unrestricted funds at the year end were in deficit of £9,096 (2021: £14.323).
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.
Risk management
The trustees have considered the major risks faced by the charity and they have taken appropriate steps to mitigate any risks that have been identified.
The trustees have continued to monitor government guideline regarding Covid-19 and have acted in accordance with those guidelines.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
11705200 (England and Wales)
Registered Charity number
1189564
Registered office
First Floor, Winston House 349 Regents Park Road London N3 1DH
Trustees
Mr A Y Melinek Mr M Bordon
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ATERES BEIS YAAKOV LIMITED (REGISTERED NUMBER: 11705200)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 NOVEMBER 2022
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Weissbraun Emanuel Chartered Accountants 220 The Vale Golders Green London NW11 8SR
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 27 September 2023 and signed on the board's behalf by:
Mr A Y Melinek - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ATERES BEIS YAAKOV LIMITED
Independent examiner's report to the trustees of Ateres Beis Yaakov Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 November 2022.
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
-
the accounts do not accord with those records; or
-
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
-
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.
Michael Weissbraun, FCA
Weissbraun Emanuel Chartered Accountants 220 The Vale Golders Green London NW11 8SR
27 September 2023
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ATERES BEIS YAAKOV LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 NOVEMBER 2022
| 2022 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 643,652 Investment income 3 3 Total 643,655 EXPENDITURE ON Charitable activities 4 Charitable activities 638,428 NET INCOME 5,227 RECONCILIATION OF FUNDS Total funds brought forward (14,323) TOTAL FUNDS CARRIED FORWARD **(9,096) ** |
2021 Total funds £ 375,808 - 375,808 349,555 26,253 (40,576) (14,323) |
|---|---|
The notes form part of these financial statements
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ATERES BEIS YAAKOV LIMITED (REGISTERED NUMBER: 11705200)
BALANCE SHEET 30 NOVEMBER 2022
| 2022 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 10 57,372 CURRENT ASSETS Debtors 11 31,771 Cash at bank 1,009 32,780 CREDITORS Amounts falling due within one year 12 (89,059) NET CURRENT ASSETS/(LIABILITIES) (56,279) TOTAL ASSETS LESS CURRENT LIABILITIES 1,093 CREDITORS Amounts falling due after more than one year 13 (10,189) NET ASSETS/(LIABILITIES) (9,096) FUNDS Unrestricted funds (9,096) TOTAL FUNDS **(9,096) ** |
2021 Total funds £ 25,921 18,427 23,289 41,716 (68,147) (26,431) (510) (13,813) (14,323) (14,323) (14,323) |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 financial statements were approved by the Board of Trustees and authorised for issue on 27 September 2023 and were signed on its behalf by:
Mr A Y Melinek - Trustee
The notes form part of these financial statements
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ATERES BEIS YAAKOV LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash 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 |
2022 £ 39,197 39,197 (57,855) 3 (57,852) (3,625) (3,625) (22,280) 23,289 1,009 |
2021 £ 50,956 50,956 (29,255) - (29,255) (812) (812) 20,889 2,400 23,289 |
|---|---|---|
The notes form part of these financial statements
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ATERES BEIS YAAKOV LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 NOVEMBER 2022
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2022 £ Net income for the reporting period (as per the Statement of Financial Activities) 5,227 Adjustments for: Depreciation charges 26,404 Interest received (3) Increase in debtors (13,344) Increase in creditors 20,913 Net cash provided by operations 39,197 2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT) At 1.12.21 Cash flow At £ £ Net cash Cash at bank 23,289 (22,280) 23,289 (22,280) Debt Debts falling due within 1 year - (1,811) Debts falling due after 1 year (13,813) 3,624 (13,813) 1,813 Total 9,476 (20,467) |
2021 £ 26,253 7,624 - (6,033) 23,112 50,956 30.11.22 £ 1,009 1,009 (1,811) (10,189) (12,000) (10,991) |
|---|---|
The notes form part of these financial statements
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ATERES BEIS YAAKOV LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost Computer equipment - 33% on cost
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.
Legal status of the charity
The charity is a company limited by guarantee and has no share capital. Liability of each member in the event of winding-up is limited to £1.
continued...
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ATERES BEIS YAAKOV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
| 2. DONATIONS AND LEGACIES Fees Donations Grants Grants received, included in the above, are as follows: London Borough of Barnet Other grants 3. INVESTMENT INCOME Deposit account interest 4. CHARITABLE ACTIVITIES COSTS Charitable activities 5. SUPPORT COSTS Charitable activities 6. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
Direct Costs £ 366,170 Management £ 271,145 |
2022 £ 75,160 379,275 189,217 643,652 2022 £ 168,674 20,543 189,217 2022 £ 3 Support costs (see note 5) £ 272,258 Finance £ 1,113 2022 £ **26,404 ** |
2021 £ 51,026 175,141 149,641 375,808 2021 £ 75,553 74,088 149,641 2021 £ - Totals £ 638,428 Totals £ 272,258 2021 £ 7,624 |
2021 £ 51,026 175,141 149,641 375,808 2021 £ 75,553 74,088 149,641 2021 £ - Totals £ 638,428 Totals £ 272,258 2021 £ 7,624 |
|---|---|---|---|---|
continued...
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ATERES BEIS YAAKOV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2022 nor for the year ended 30 November 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2022 nor for the year ended 30 November 2021.
8. STAFF COSTS
9.
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Employees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Charitable activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2022 2021 £ £ 347,945 164,108 13,999 1,113 4,226 1,681 366,170 166,902 2022 2021 26 15 Unrestricted fund £ 375,808 349,555 26,253 (40,576) (14,323) |
|---|---|
continued...
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ATERES BEIS YAAKOV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
| 10. TANGIBLE FIXED ASSETS COST At 1 December 2021 Additions At 30 November 2022 DEPRECIATION At 1 December 2021 Charge for year At 30 November 2022 NET BOOK VALUE At 30 November 2022 At 30 November 2021 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 14) Trade creditors Pensions Other creditors Accruals and deferred income |
Fixtures and fittings £ 32,372 57,736 90,108 7,785 25,308 33,093 57,015 24,587 |
Computer equipment £ 4,075 119 4,194 2,741 1,096 3,837 357 1,334 2022 £ 27,021 4,750 31,771 2022 £ 1,811 41,882 938 44,428 - 89,059 |
Totals £ 36,447 57,855 94,302 10,526 26,404 36,930 57,372 25,921 2021 £ 12,965 5,462 18,427 2021 £ - 33,291 676 33,080 1,100 68,147 |
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continued...
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ATERES BEIS YAAKOV LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 NOVEMBER 2022
| 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 14) 14. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Bank loans more 5 yr by instal 15. RELATED PARTY DISCLOSURES |
2022 £ 10,189 2022 £ 1,811 1,902 5,343 2,944 |
2021 £ 13,813 2021 £ - 13,813 - - |
|---|---|---|
There were no related party transactions for the year ended 30 November 2022.
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