Charlty regl$tratlon nurnb?r 1191242 WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION rrustges Jeffrey Jonathan Barron Johnny Hoffman Charlty numbfrr 1191242 Ind•p8nql•nt examiner Glazars 843 Finchlgy Road London NW11 8NA
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST CONTENTS Trustee5' report Independent examlnerfs report ststement of fin8nd81 advllles Balanca sheat Statement of cash flows Notes to the financial statements 7-13
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The trustees present Ihelr annual report and financial statements for the year ended 31 August 2023. Thè financial statements have been prepared in accordance wllh the accounting policies set out in not& 1 to the financlal statements and comply with the charity's tgov&ming documenll. the Charities Act 2011 and "Accounting and Reporting by Charitigs.. Slalemgnl of Recomm8nded Practice applicable lo charili8s preparing Ihelr accounts in accordance with the Financial Reporting Standard applicable In the UK and Rapublic of Ireland (FRS 102)" 18ffeclive 1 January 2019). Oblectlves and a¢tlvltl?$ The objects of th8 Charity are to advan the èduealh)n of th8 pupils at Wolfson Hlllel Primary School by providing and assisting in the provision of fvnds and facilities for education at the school. Public bgnefit The trustees havè paid due regard to guidance issue(J by the Chartiy Comfflission in deryding what activities the charity should und8rtake. The principal activity of tha Charity is that of the advancement of the rgligious and secular education in regards to the School and its pupils. During the year fvrther enhancements and improvements were made lo the School and the Charity continued lo provide the school with 9ranls to enable the Sch1 to continue to provide excellent 18aching and facilities. Public benefrt The prfndp81 aCtltIeS of the Charity durir4J the year contlnued to be to advance educatlon. The trustees are aware of the Charity Commission guidanca on publlc benefit reporting a5 set out in Section 17 Charities Act 2011. Th8 tru8lee5 believe that the Charity achieves a public b8nefrt by providing educational $8rvices to the School. Grant making policy The Chaiity makes 8 contribution to the costs of thg rdigious and secular education expendad by the School including associate(1 overheads and educational resources. Achlevements and perfornianc Significant activities and 8chiev8ments against otsectives The charity measures its rforrnance by total amount of funds raised. Total funds raised this year w8r8 £256,616. Finartclal revlew R&serves policy It is the policy of the charity that unrestricted ffijnds wthich hav8 not been designated for a specific usa sh(yJld be maintained al a18vel equivalent lo beeen three and six month's expenditure. Th8 trustees consider that re$¢rve$ at this level will ensure that. in the evenl of a significant drop in funding. they will be able to continv8 thg charity's current activities while consideration is given lo ways in which additional funds may be ratsed. This level of reserves has been maintained throughout the year. Mafvrrisks The trustees have assessed the major risks to whith the charity Is exposed. and are satisfied that systems are In place to mitigate exposure lo the major risks. Structurep govornance and m•nagement The trust8as who sarvad during tho year and up to the dats of slgnature of the finanrial ststwnents were.. Jeffrey Zinkin Jonathan Barron Johnny Hoffinan RècnJitm8nt 8nd aDDnImal of twstees
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Organisational stwcture Responsibility is shared equally among all trustees who 8ach take an active part in the charity's aclivlti8s. Induction and training of trustees Ther8 is no fomial policy for the induction and training of new trustees. However all trustees have a krwledge of the ¢x)mmunity they aim to serve and of the overall objectives of the charity. Other maftors Govoffllng doGum•nt The Charity is conlrollod by its govorning docum8nt. a deed of tru51 dated 7 Septemb8r 2020 and conslitutas an unincorporated charity. Rl8k Management The Iruslees have a duty to identify and review the risks to which the charity is exposed and to ensure approprlale controls are in place to prode reasonable assurance against fraud and error. as approved by the Board of Truslees. Jonalh Trust aon Da
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST I rert to the trustees on my examination of the financlal statements of Wolfson Hillel Primary School Chorflablg Trust Ilho Gharityl for the year ended 31 August 2023. Rosponsibiliti•5 and bas1$ of report As thè trust888 of the charity you are rosponslblo for th9 preparation ol the financial ststefflents In accordance wrfh the requirements of the Charities Act 2011 Ilhe 2011 Acti. I r8port in resp8et of my 8xamination of th& charity's financial ststements carried out under section 145 of the 2C)11 Act. In c8rrylng out my examination I hav8 followed all the applicabla Directions given by th& Chafity Commlsslon under sectlon 145{5}Ibl of the 2011 Act. Independent examlnor's $tatom•nt Since Ihe charity's gross income ex¢ge¢Jed É250.000 your examiner must be a member of a body listed in sodion 145 of the 2011 Ad. I confimi that l am qualified to undertake the examination because l am a member of IENTER IN DATABASE cy10151. which is one of the listed bodies. Your attention is drawn to the fact that the charty has pKeparad financial statements in accordance wlth Accounting and Reporting by Charities preparing their ac(yJunts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 in preference lo th8 Accounting and Reporting by Chariiies: Statement of Recommended Practic& issued on 1 April 2005 which is referred to in the extant regUlatiOr but has now been withdrawn. l understand that this has been dcme in order for financial statoments lo provide a true and fair view in accordance with G8n8r811y Accepted Accthinting Pradica effective for r8porting periods teginnirrfJ on or 8fter 1 January 2015. I have completed my examination. I confirm that no matters have come to my attenbon in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of ihe 2011 Act; or the fin8nci81 stslements do not accord wth those racords., or the financial stslements do not comply with the applicable requirements concemlng the form and content of accnunts set out in the Charities {Accounts and Raportsl Ragulations 2008 other than any requirement that the accounts give a true and fair vlew whlch Is not a matter considered as part of an independent examlnallon. I h8vo no concems and have comg across no other matters in connaction wllh th8 examlnation to which attention should bo drawn in this roport in order lo enable a propgr undgrstanding of the financial slalements to be reachetl. Glazers 843 Finchley Road London NW118NA Dated:4th S$p.l$mbèr 2024
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Unr•strict•d R•stricted Totsl Unrnstrictad Restrlcted Total funds 2023 funds 2023 funds 2022 funds 2022 2023 2022 Notes Income from: Donations and legacles Investments 346,819 1,378 346.819 1.378 498,363 176 121.522 619,885 176 Totsl Incom• 348.197 348,197 498.539 121.522 620.061 Exp8ndltur8 on: Charitable activi1188 250,020 55.284 305.304 543.181 290.320 833,501 Totsl exndItUre 250.020 55,284 305,304 543.181 290,320 833.501 Not incomellexpenditure) and movement In fvnds 98,177 155,284) 42,893 144,642) {168,798) 1213.4401 Recon¢lllatlon of fvnds: Fund balances at 1 September 2022 252,175 55,284 307.459 296,817 224.082 520.899 Fund bal•n¢0s at 31 August 2023 350.352 350,352 252.175 55.284 307.4S9 The statement of financlal actlvWes Includes all gains and lossos roc¥)gnised In the year. Ail Income and expenditurg dgrive from continuing activities.
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST BALANCE SHEET ASAT31 AUGUST2023 2023 2022 Not•s Current as$•ts Debtors Cash at bank and in hand 10 242.561 110.491 152.358 156,901 353.052 309,259 Cr•dltor$: amount$ falllng due wSthln one year 11 12.7001 11,8001 Net current assets 350.352 307,459 The funds of the charity Restricted income fijnds Unrestrided funds 12 13 55.284 252.175 350,352 350,352 307,459 Th nanc statemgnls wgrg approved by the trusloes on Jonal Trus Barron
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Cash flows from operating a¢tlvHI•$ Cash absorb8d by operations 16 (47,788) (296,4251 Investlng activiti•s Investrnant income receiv8d 1.378 176 Not cash genornt•d frorn Inv•8ting activities 1.378 176 Net cash us•d In fln•nclng actlvltlv Net docr•as0 In c•sh and cash •qulvahnts 146,410) 1296,249) Cash and cash equivalents at beglnning of year 166,901 453,150 Cash and &A•h equlvalonts at gnd of ye•r 110,491 156,901
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting polici•s Charfty Infomiatlon Woltson Hi1181 Primary School Charitable Trust is a charty fom)ed in England and Wales. 1.1 Accountlng conventlon The financial slalemenls have been prepad in accordanc8 with th8 charitys Trust Deed, the Charities Act 2011, FFiS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102") and tha Chariti8s SORP 'Accounling and Reporting by Charities.. Stal8menl of Rgcommendgd Pracuce applicBblo lo charities preparing Ihgir aunt$ in accordance with the Financial Reporting Standard applicable in the UK and R8public of Ireland IFRS 102}" leffeclive 1 January 20191. The charity is 8 Public Benefit Enlily as defined by FRS 102. The financial statements have departed from the Charities {Aco)unls and Reports) Ragulalions 2008 only lo the extent required lo provide a tru8 ond fair view. This departure has involved following tho Statement of Rocommondod Praclice for charities applying FRS 102 rather than the version of tha Statement of R8commended Practice which is referred to in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterling, which is the functhjnal currency of the chaflty. Monetsry amounts In these financial statements are rounded to Ihe nearest £. The financial statements have been prepared under the historical cost eonvention, Imodified to include th revaluation of freehold propertie5 and lo include investment propertie8 and certain financial instrumants at fair valuel. Th8 principal accounting policies adopted ar& set out below. 12 Golng conurn Al Ihe time of approving Ihg financial statements. th8 trustees have a reasonable eXpeCtstic that the charity has adequate resources to continue in operational existence for the foreseeable futur8. Thus lh8 trustses continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.3 Charitable funds Unrestricted fiJnds are available for use at the discretion of the truste8s in furtheran of their charitable objectives. Restricted fijnds are subject to specific conditions by donors or grantors as lo how they mgy be used. The purposes and uses of the restricted funds are set out in the notes to the financial slalements. Endowment funds are subject to specific conditlons by donors thal the capital musl be maintsined by the charity. 1.4 Income Income is TeGognised whgn the charity is legally ontilled to it after any porfomance conditions have been met, the amounts can be measured reliably, and it is probaNe that income will be received. Cash donations are recognised on receipt. Cxher donatoons ar8 recognised once the charity has been notTrled of the donatK)n, unless perfomiance conditions require deferral of the anunt. Income tax recoverable in relation lo donati¢5 received under GiftAKI or deeds of covenant is recognlsed at the tlm8 of the donatlon. Legacles are recognlsed on recelpl or otherwlse if the charity has been notified of an impending distribution, the amount is known. and receipt is expeeled. If the amount 1$ not known. the legacy is treated as contingent asset.
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Accounting policies (Continued 1,5 Expgndlturg Expenditure is recognised oncè there ts a legal or constructive obligation to transfer èconomlc benefit to a third paty. il is probable that a transfer of economic benefits will be rgquired in settlement, and the amount of Ihg obligation can be measured reliabty. Expenditure is dassrfied by acts"vity. The costs of each activity are made up of the total of direct costs and shared costs, including support Costs involved in undertaking oach activlty. Dlrect costs attributable lo a sing activlty are allocated directjy to that activity. Sharèd ctssls which conlrlbute lo more than one acllvity and support costs which are not attributable to a single activity are apportioned betsveen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Cash and ¢ash equ5v•lents Cash and cash equivalents include cash in hand. deposits hdd al call with banks. other short-temi liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in oJrrent liabilities. 1.7 Flnan¢lal Instrnments The charity has elected lo apply the provisions of Sedion 11 '8a$i¢ Financial Instrumènts, and Section 12 'Olher Financial Instrumgnts Issues. of FRS 102 to all of 11$ financial instruments. Financial instruments are recognised in the charitys balance shed en the ehdrity becomes paty lo the contractual provlslons of the Instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls. when there is a lègally enforceable right to set off the recognised amounts and there bs an Inlenllon to settle on a net basls or to reallse the ass81 and setue the liability simultaneously. Ba$lc flnanclal assets Basoc financiol assets, which include debtors and cash 8n(J bank bAlances. are Initialty measured at transacllon price includSng transaction cosls and are subsequgnuy carrf8d al amortisgd cost using the effgdsvg interest method unless the arrangement conslSlules a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rate of interest. Financial assets dassifled as recelvable wlthin one year are not amortised. Bas1¢ Ilnanclal Ilabllllles Basic financial liabiliti8s, including creditors and bank loans are initially r8cognis8d at transaction price unless the arrangement constKutes a 11nancing transaction, where the éebt Instrument Is measured at the present value of the futur8 p8ym8nts dlscounted al a market rate of Inler6sI. Flnanclal 118billiies classlfied a8 payable within ong ygar are rKJI amortised. Debt instruments are subsequendy carried at amortised cost, using the effective interest rate method. Trade uedilors are obligations lo pay for goods or services that have been acquired in the ordinary c(MJrse of operations from suppliers. Amounts payable are classified os currgnt liabilities rf payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are r8cogni$gd initially at transaction price and subsequently measured al amortised cost using the 8ffeciive interest method. Dere¢o9nltlon of Ilnanclal Ilabllities Finartcial liabilitie$ ar9 dgr8cognisgd when the Charis contractual obligations expire or are discharged or cancallad.
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Crltlcal a¢countOng e$tlmat•s and ludgements In the application of th8 ¢harity's accounting poli¢i8s. the trustees are r8quired lo rnake judgoments. estlmatss and assumptions about the carrying amount of assets and liabiliti8S that are not readily apparant from other sources. The eslimal8s and associated assumptions are basèd on historical expèrience and other factors that ara considered to be leVant. Actual sUIts may dlffer Irom these estsmates. The ests'males and undertylng assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates ar& recognised in the period in which th8 estimate is revised where th8 rèvision affects only that period, or in the period of the revision and fijtura periods where the rèvision affects tx)th current and future periods. Donatlons and l•gacl•$ Unrestrldad Unr8stricted Restrlctsd Total funds funds funds 2023 2022 2022 2022 Donalion$ and gifts HMRC aid 256.616 90,203 414,653 83,710 121.522 536,175 83,710 346.819 498.363 121.$22 619,885 Income from Investments Unr•stricted Unre¥trf¢tsd funds 2023 funds 2022 Interest roceivable 1.378 176
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Expondlture on charftabl8 a¢tlvltl•s Charitable Charftabl• Expendlture Expondituro 2023 2022 Direct coyts Charitable exp8ndilur& 304,269 832.454 Share of support and govornanc• costs (se• noto 6} Support Govemance 135 900 147 900 305,304 833,501 Analysis by fund Unrestricted lunds R8stdct8d funds 250.020 55,284 543,181 290,320 305,304 833.501 Support costs •nd GOrnanCe costs 2023 2022 Bank ¢harg8S Independent Examiner's fee 135 900 147 900 1.035 1.047 Analysed b•hveen'. Charltable actlvllles 1.035 1,047 Trusloos N0 of the trustges {or ony persons connected with them) received any remuner8tlon or benefits from the charlty durlng the year. Employees The avewe monthly number ofemployees during the y8ar was.. 2023 Numbor 2022 Numb•r Total
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Empl¢yeos (Contlnued Th&re wera no employees whos6 annual romuneraUon was MO than £60,000. Taxation The charfty Is exempt from tsxatlon on Its actlvllles because all Sls Income Ss applied for charitable purposes. 10 Dgbtors 2023 2022 Amounts falling du• within on• year: HMRC gift aid 242.561 152.358 11 Credltors: amounts falllng duo wlthln one year 2023 2022 Accruals and deferred income 2.700 1.800 12 Restrlcted funds The restn.cted funds of the charity comprise the unexpended balances of donailons and grants held on trust subject to specific conditions by donors as to how they may be used. At1 Septsmb•r 2022 In¢omlng r•source8 Rèsources expended Transfors Gains and At 31 August losses 2023 Restricted fvnds 55.284 155.2841 Prevlous year". Incomlng R•sourcgs rosourc•s expendod Transfgrs Galns and At 31 August 10s$9s 2022 September 2021 Restricted fvnds 224.082 121,522 (290,3201 55,284
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 13 Unr•$trl¢ted funds The unrestrfcted funds of the charity comprise the unexpended balances of donations an(J grants whlch are not subject lo sp8clfic CDndltions by donors an(1 grantors as lo how they may be used. These include d85ignatsd funds which havo been set aside out of unrestricted funds by the trustees for speciflc purposes. At1 S•ptamb•r 2022 In¢omlng r•sourc•s R•sourcos At 31 August •xp•nd•d 2023 General funds 252.175 348.197 {250,020) 350.352 Provlous yèar: At1 September 2021 Incomlng Rgsourus At 31 August resources 8xnded 2022 General funds 296,817 498.539 {543,1811 252.175 14 Analysls of not assets between fund$ Unrè8trlct•d Re8trlct•d Total funds 2023 funds 2023 2023 At 31 August 2023: Current assetsllliabililies) 350.352 350.352 350.352 350,352 Unrnstrictsd Ro*trict•d Totsl funds 2022 funds 2022 2022 At 31 August 2022: Current 8ssetsllliabllilie8) 252.175 55.284 307,459 2S2.175 307.459 15 R•lat•d party transactlons There were no dlsclosable relat6d party Iransadions during the year.
WOLFSON HILLEL PRIMARY SCHOOL CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGusf2023 16 Cash generated from op8ration¥ 2023 2022 SurpIL1{defjcl1j for th& year 42.893 {213,4401 Adjustments for.. Inv8slm8nl Irome reGognised in ststem8nt of finanaal aCtlitIeS (1.3781 {1761 Movements in working capitsl: Ilncrease) in debtors Incr8a$a in ueditors {90.2031 900 (83.7091 900 Cash absorbed by op•rallons 147.788) {296,4251 17 Analysls of change• In net fund8 Tha charity had no material debt durlng thè year.