**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) Page 1 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 Page 4 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 CRED￿oRs 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 entIt￿d 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 Page 6 **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 Page 7 **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... Page 8 **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... Page 9 **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... Page 10 **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... Page 11 **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. Page 12