**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 Page 1 **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 Page 2 ## **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: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. 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 4. 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 Page 3 ## **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 Page 4 **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 Page 5 ## **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 Page 6 **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 Page 7 **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... Page 8 **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... Page 9 **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... Page 10 ## **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| |---|---|---|---| continued... Page 11 **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. Page 12