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 2023
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 2023
| 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
Report of the Trustees FOR THE YEAR ENDED 30 NOVEMBER 2023
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 2023. 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 £896,387 (2022: £643,652).
Total expenditure was £881,708 (2022: £638,428) which reflects the continued growth of the school. This gave the charity a net surplus for the year of £14,840 (2022: £5,227).
Total unrestricted funds at the year end were in surplus of £5,744 (2022: £9,096 deficit).
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.
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 Mrs L Melinek (appointed 2.7.24) Mr S Berlinger (appointed 2.7.24)
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ATERES BEIS YAAKOV LIMITED Report of the Trustees FOR THE YEAR ENDED 30 NOVEMBER 2023 REFERENCE AND ADMIiixsfRATIVE DETAELS Independent Exarnlner Weissbraun Emanuel Chartered Accountants 220 The Vale Golders Green Londo NWII 85R Report of the trustees, ncorporatlng a Strateg report, approved by order of the board of trustees, as the company dlrettors, on ...........l£.4}ItvL%......,......... and signed on the board's behalf by.. Mr A Y Melinek- Trustee Page 2
ATERES BEIS YAAKOV LIMITED
Statement of Financial Activities (Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 30 NOVEMBER 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 896,387 Investment income 3 161 Total 896,548 EXPENDITURE ON Raising funds 4 9,250 Charitable activities 5 Charitable activities 872,458 Total 881,708 NET INCOME 14,840 RECONCILIATION OF FUNDS Total funds brought forward (9,096) TOTAL FUNDS CARRIED FORWARD 5,744 |
2022 Total funds £ 643,652 3 643,655 - 638,428 638,428 5,227 (14,323) (9,096) |
|---|---|
The notes form part of these financial statements
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ATERES BEIS YAAKOV LIMITED Balantt Sheet 30 NOVEMBER 2023 2023 Ullre5tricted fund 2022 Total funds Notes FIXED ASSETS Tanglble assets 52,020 57,372 CURRENT ASSETS Debtors Cash at bank 12 49,074 401 31,771 49,475 32,780 CREDrn)RS Amounts falllng due wlthln one year 13 187,571) 189,0591 NET CURRENT ASSETS TOTAL ASSETS LESS CURREKf LfABXLrrIES 13,924 1,093 CREDoRs Amounts falllng dL* after more than one year 14 (8,180) IEO,189) NET ASSETSI(LIABZLrriES) FUNDS Llnrestrkted funds TOTAL FUNDS The charitable company is entItd to exemptlon from èudlt under Section 477 of the Companies Act 2006 for the year ended 30 November 2023. The members have not requlred the corllpany to obtaln an audit of Its flnanclal statements for the year ended 30 November 2023 in aCCVrdan with Settlon 476 of the Companles Att 2006. The trustees acknowledge their respor¢slblllt1 for (a) ensurlng that the charltable company keeps accounting records that comply wlth Sectlons 386 and 387 of the Companles Att 2006 and pieparing financial slatetnents which glve a true and falr vlew of the state of affairs of the charltable company as t the end of each financial year and of Its 5urplu5 or deficlt for each financial year In accordance with the requirements of Sectlons 394 and 395 and which otherwtse compty with the requlrements of the Cornpallies Att 2006 relating to fvnancial statements, so far as appllcable to the charitable company. Ib) The fina cla statements were appvoved by the Board of Trustees and authort5ed for Issue on and were slgned on Ils behalf by.. Mr A Y Mdinek- Trustee The notes form part of these flnanclal statemen15 Page 5
ATERES BEIS YAAKOV LIMITED
Cash Flow Statement FOR THE YEAR ENDED 30 NOVEMBER 2023
| 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 |
2023 £ 26,820 26,820 (25,579) 161 (25,418) (2,010) (2,010) (608) 1,009 401 |
2022 £ 39,197 39,197 (57,855) 3 (57,852) (3,625) (3,625) (22,280) 23,289 1,009 |
|---|---|---|
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 2023
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 £ Net income for the reporting period (as per the Statement of Financial Activities) 14,840 Adjustments for: Depreciation charges 30,931 Interest received (161) Increase in debtors (17,303) (Decrease)/increase in creditors (1,487) Net cash provided by operations 26,820 2. ANALYSIS OF CHANGES IN NET DEBT |
2022 £ 5,227 26,404 (3) (13,344) 20,913 39,197 |
|---|---|
| At 1.12.22 | Cash flow | At 30.11.23 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 1,009 | (608) | 401 |
| 1,009 | (608) | 401 | |
| Debt | |||
| Debts falling due within 1 year | (1,811) | (100) | (1,911) |
| Debts falling due after 1 year | (10,189) | 2,009 | (8,180) |
| (12,000) | 1,909 | (10,091) | |
| Total | (10,991) | 1,301 | (9,690) |
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 2023
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 - 33% 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 2023
| 2. DONATIONS AND LEGACIES Fees Donations Gift aid Grants Grants received, included in the above, are as follows: London Borough of Barnet Other grants 3. INVESTMENT INCOME Deposit account interest 4. RAISING FUNDS Raising donations and legacies Fundraising costs 5. CHARITABLE ACTIVITIES COSTS Direct Costs £ Charitable activities 555,078 6. SUPPORT COSTS Management £ Charitable activities 315,898 |
2023 £ 117,815 544,174 2,167 232,231 896,387 2023 £ 210,272 21,959 232,231 2023 £ 161 2023 £ 9,250 Support costs (see note 6) £ 317,380 Finance £ 1,482 |
2022 £ 75,160 379,275 - 189,217 643,652 2022 £ 168,674 20,543 189,217 2022 £ 3 2022 £ - Totals £ 872,458 Totals £ 317,380 |
|---|---|---|
continued...
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ATERES BEIS YAAKOV LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Depreciation - owned assets | 2023 £ 30,931 |
2022 £ 26,404 |
|---|---|---|
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 November 2023 nor for the year ended 30 November 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 November 2023 nor for the year ended 30 November 2022.
9. STAFF COSTS
| 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. 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Charitable activities Charitable activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
2023 2022 £ £ 534,372 347,945 14,450 13,999 6,256 4,226 555,078 366,170 2023 2022 24 26 Unrestricted fund £ 643,652 3 643,655 638,428 5,227 (14,323) |
|
|---|---|---|
continued...
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ATERES BEIS YAAKOV LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|
| Unrestricted | ||||
| fund | ||||
| £ | ||||
| TOTAL FUNDS CARRIED FORWARD | (9,096) | |||
| 11. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| and | Computer | |||
| fittings | equipment | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 December 2022 | 90,108 | 4,194 | 94,302 | |
| Additions | 23,059 | 2,520 | 25,579 | |
| At 30 November 2023 | 113,167 | 6,714 | 119,881 | |
| DEPRECIATION | ||||
| At 1 December 2022 | 33,093 | 3,837 | 36,930 | |
| Charge for year | 29,774 | 1,157 | 30,931 | |
| At 30 November 2023 | 62,867 | 4,994 | 67,861 | |
| NET BOOK VALUE | ||||
| At 30 November 2023 | 50,300 | 1,720 | 52,020 | |
| At 30 November 2022 | 57,015 | 357 | 57,372 | |
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Trade debtors | 44,324 | 27,021 | ||
| Other debtors | 4,750 | 4,750 | ||
| 49,074 | 31,771 | |||
| 13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Bank loans and overdrafts (see note 15) | 1,911 | 1,811 | ||
| Trade creditors | 32,277 | 41,882 | ||
| Social security and other taxes | 37,339 | - | ||
| Pensions | 1,289 | 938 | ||
| Other creditors | 14,717 | 44,428 | ||
| Net wages | 38 | - | ||
| 87,571 | 89,059 |
continued...
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ATERES BEIS YAAKOV LIMITED
Notes to the Financial Statements - continued FOR THE YEAR ENDED 30 NOVEMBER 2023
| 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 15) 15. 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 16. RELATED PARTY DISCLOSURES |
2023 £ 8,180 2023 £ 1,911 1,911 5,733 536 |
2022 £ 10,189 2022 £ 1,811 1,902 5,343 2,944 |
|
|---|---|---|---|
There were no related party transactions for the year ended 30 November 2023.
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