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2024-06-30-accounts

Charity Registration No. 1195729

Company Registration No. 12746123 (England and Wales)

BNJC

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

BNJC

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M P Davids
N R Isaac
J A Bohm
E J Estrin
R Simonson
M Sugarman
Charity number 1195729
Company number 12746123
Registered ofce Maria House
35 Millers Road
Brighton
BN1 5NP
England
Auditor HW Fisher Audit
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom

(Appointed 15 March 2024) (Appointed 13 July 2024) (Appointed 13 July 2024) (Appointed 24 March 2025)

BNJC

CONTENTS

Page
Trustees' report 1 - 3
Statement of trustees' responsibilites 4
Independent auditor's report 5 - 7
Group statement of fnancial actvites 8 - 9
Balance sheets 10
Group statement of cash fows 11
Notes to the fnancial statements 12 - 24

BNJC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 JUNE 2024

The trustees present their report and financial statements for the year ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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)".

The charity's objectives are

The policies adopted are in furtherance of these objectives, and there has been no change in these during the year.

The Trustees confirm they have complied with the duty in the Charities Act 2011 to have regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.

Completion of The Build & Start of Activities

The centre comprises four buildings and the facilities within these buildings are split between the development company which partnered in the build; BNJC; and Brighton and Hove Hebrew Congregation (BHHC), the charity independent of us, which owns the freehold of the centre and operates the shul (synagogue).

These assets comprise: a row of 10 mews homes (Fig Tree Lane); a synagogue; a six-storey residential block at the west end of the site (Olive Tree Court); and a five-storey block at the east end (Elm Tree Court); there is also a basement for car parking, a gym and a Mikvah (ritual bath). On the ground floor of the residential apartment blocks there are commercial spaces: a restaurant and supporting kitchen; event spaces; our nursery, which has the brand name Shoresh, the Hebrew word for ‘roots’; and there is a coworking space on the first floor.

BNJC operates (through a combination of long- and medium-term leases) all commercial areas except for the synagogue and mikvah. BNJC works closely with BHHC to ensure a comprehensive and ‘joined up’ offer to customers. BNJC has leases on several mews houses and flats, which allows us to offer customers highly attractive short stay packages. This means that people visiting can enjoy on-site residential accommodation, kosher food, synagogue services, a workspace, a gym (operated by Pro Fitness Academy (PFA)), and join the programme of events taking place whilst they are visiting, all of this in a beautiful beach side venue an hour from London.

Achievements and performance

The period after taking possession saw us build our staff and prepare our charity for opening. For example, having recruited a head for Shoresh nursery (a brand that sits within BNJC), her immediate focus was readiness for Ofsted registration. Similarly having recruited a team of chefs for the kosher restaurant and shop / deli (these operate within a 100% owned subsidiary Novellino Brighton Limited) we went through a process of branding, compliance and bringing the kitchen areas to the level required.

We also welcome charities and businesses who look to use the centre for strategy planning days andoffsites. Our combination of facilities means we are well positioned to cater for offsites and overnight stays.

We also regularly organise interfaith events and encourage local residents to use our facilities. PFA has built up a sizeable gym membership, which currently stands at over 300 members, and our challenge is to work with PFA to encourage members to eat more regularly in the restaurant and take part in more film nights and other such events that we organise.

BNJC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

Future Plans

We continue to welcome Jewish groups from across the UK to the centre, mostly for weekends to celebrate Shabbat and also over Jewish festivals when they can enjoy the combination of facilities that we have: residential accommodation; an on-site synagogue operated by Brighton and Hove Hebrew Congregation; a kosher restaurant and shop; and a team that helps co-ordinate programming to ensure a rewarding visit.

We also welcome charities and businesses who look to use the centre for strategy planning days and offsites. The combination of the facilities listed above, plus event space for meetings, gym and workspace means we are well positioned to cater for offsites and overnights. We expect this activity to expand as our reputation spreads nationally and internationally.

We put the facilities at the disposal of local charities to host daytime befriending sessions and support groups, often with assistance from the resident community social worker.

We also regularly organise interfaith events and encourage local residents to use our facilities. One of our challenges is to work with PFA to gym members to eat more regularly in the restaurant and take part in more film nights, comedy nights, concerts and lectures and other such events that we organize.

We plan to modify the offering at our EYFS nursery to provide a more competitive and comprehensive offering to working parents.

Income we receive from PFA, and activity and income from Workspace and our events, are all within the 100% owned trading subsidiary BNJC Trading Limited.

Post Year End events

In February 2025, Marc Sugarman stepped down as CEO of the company. Jeremy Fletcher, an experienced executive in the hospitality and property sector, was appointed as Interim CEO for an initial term of four months. In the light of his performance during that time, the trustees determined to make his appointment longer term. The trustees subsequently agreed to appoint Marc Sugarman to their number so the company could continue to benefit from his expertise and commitment.

Financial review

For the year ended 30 June 2024, the group generated income of £2,987,303 (2023: £3,609,146). Total expenditure for the year was £3,139,745 (2023: £933,187).

For the year ended 30 June 2024, the group had net expenditure of £152,442 (2023: net income of £2,675,959) which resulted in reserves at the year-end of £2,690,190 (2023: £2,842,632).

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six-months’ expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Structure, governance and management

The charity is a private company limited by guarantee, incorporated under the Companies Act 2006 with a registration number 12746123. It is also registered with the Charity Commission 1195729.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

R F Comer (Resigned 14 January 2025) M P Davids N R Isaac J A Bohm (Appointed 15 March 2024) E J Estrin (Appointed 13 July 2024) Y Breuer (Resigned 30 June 2025) R Simonson (Appointed 13 July 2024) M Sugarman (Appointed 24 March 2025)

BNJC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

Trustees are appointed for a three-year term, and at the end of each term they shall retire from office, but are eligible for reappointment.

None of the Trustees has any beneficial interest in the company.

All of the Trustees are members of the entity and guarantee to contribute £1 in the event of a winding up.

The organisational structure consists of a CEO supported by a team to ensure smooth running of the facility and to further the goals of the charity.

Disclosure of information to auditor

Each of the trustees have confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Michael Davids

.............................. M P Davids Trustee 22 Sep 2025 Dated: .........................

BNJC

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 30 JUNE 2024

The trustees, who are also the directors of BNJC for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

A combination of Company Law and Charity Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the group and the parent charity and of the incoming resources and application of resources, including the income and expenditure, of the group for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the group and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

BNJC

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF BNJC

Opinion

We have audited the financial statements of BNJC (the 'parent charity’) and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the group statement of financial activities, the balance sheets, the group statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charity and their environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

BNJC

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF BNJC

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group's and parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

As part of our planning process:

BNJC

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF BNJC

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the trustees of the charity.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/ auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

S Mott-Cowan

Simon Mott-Cowan (Senior Statutory Auditor)

for and on behalf of HW Fisher Audit

Chartered Accountants Statutory Auditor Acre House 11-15 William Road London NW1 3ER United Kingdom 22 Sep 2025 .........................

BNJC

GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2024

Current fnancial year
Unrestricted
Unrestricted
funds
funds
general
designated
2024
2024
Notes
£
£
Income from:
Donatons and legacies
3
2,186,365
-
Charitable actvites
4
53,172
-
Other trading actvites
5
637,923
-
Total income
2,877,460
-
Expenditure on:
Raising funds
6
1,794,570
-
Charitable actvites
7
1,179,458
55,874
Total resources expended
2,974,028
55,874
Net (outgoing)/incoming resources before
transfers
(96,568)
(55,874)
Net income/(expenditure) for the year/
Net movement in funds
(96,568)
(55,874)
Fund balances at 1 July 2023
(180,308)
2,680,038
Fund balances at 30 June 2024
(276,876)
2,624,164		 Restricted
funds
2024
£
109,843
-
-
109,843
-
109,843
109,843
-
-
342,902
342,902		 Total
2024
£
2,296,208
53,172
637,923
2,987,303
1,794,570
1,345,175
3,139,745
(152,442)
(152,442)
2,842,632
2,690,190		 Total
2023
£
3,573,140
610
35,396
3,609,146
402,665
530,522
933,187
2,675,959
2,675,959
166,673
2,842,632

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BNJC

GROUP STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2024

Prior fnancial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
Notes
£
£
£
Income from:
Donatons and legacies
3
550,200
-
3,022,940
Charitable actvites
4
610
-
-
Other trading actvites
5
35,396
-
-
Total income
586,206
-
3,022,940
Expenditure on:
Raising funds
6
402,665
-
-
Charitable actvites
7
530,522
-
-
Total resources expended
933,187
-
-
Gross transfers between funds
-
2,680,038
(2,680,038)
Net (expenditure)/income for the year/
Net movement in funds
(346,981)
2,680,038
342,902
Fund balances at 1 July 2022
166,673
-
-
Fund balances at 30 June 2023
(180,308)
2,680,038
342,902		 Total
2023
£
3,573,140
610
35,396
3,609,146
402,665
530,522
933,187
-
2,675,959
166,673
2,842,632

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BNJC

BALANCE SHEETS

AS AT 30 JUNE 2024

Group
2024
Notes
£
Fixed assets
Tangible assets
10
3,653,998
Investments
11
-
3,653,998
Current assets
Stocks
13
60,169
Debtors
14
350,608
Cash at bank and in hand
34,839
445,616
Creditors: amounts falling due within one year
15
(1,409,424)
Net current liabilites
(963,808)
Total assets less current liabilites
2,690,190
Income funds
Restricted funds
17
342,902
Unrestricted funds
Designated funds
18
2,624,164
General unrestricted funds
(276,876)
2,347,288
2,690,190		 2023
£
3,227,006
-
3,227,006
-
270,963
99,154
370,117
(754,491)
(384,374)
2,842,632
342,902
2,680,038
(180,308)
2,499,730
2,842,632		 Charity
2024
a
£
49,567
2,716,931
2,766,498
-
140,438
4,190
144,628
(220,841)
(76,213)
2,690,285
342,902
2,624,164
(276,781)
2,347,383
2,690,285		 2023
s restated
£
26,079
3,274,220
3,300,299
-
78,650
58,013
136,663
(188,441)
(51,778)
3,248,521
342,902
2,680,038
225,581
2,905,619
3,248,521

The Charity's net expenditure for the year was £558,236 (2023: net income of £3,052,954).

22 Sep 2025

The financial statements were approved by the Trustees on .........................

Michael Davids

..............................

M P Davids

Trustee

Company Registration No. 12746123

BNJC

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 JUNE 2024

Notes
Cash fows from operatng actvites
Cash generated from operatons
21
Investng actvites
Purchase of tangible fxed assets
Proceeds on disposal of tangible fxed assets
Net cash used in investng actvites
Net cash used in fnancing actvites
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
(152,473)
1,080		 2023
£
£
£
87,078
3,204,487
(3,258,131)
-
(151,393)
(3,258,131)
-
-
(64,315)
(53,644)
99,154
152,798
34,839
99,154

BNJC

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

Charity information

BNJC is a private company limited by guarantee incorporated in England and Wales. The registered office is Maria House, 35 Millers Road, Brighton, BN1 5NP, England.

1.1 Accounting convention

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, the Charities Act 2011 and "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)". The Charity is a Public Benefit Entity as defined by FRS 102.

Consolidated financial statements have been prepared for the charity and its trading subsidiaries, BNJC Trading Limited and Novellino Brighton Limited. The results of the subsidiaries have been consolidated on a line by line basis. The charity has taken advantage of S.408 Companies Act 2006 and has not prepared a separate Statement of Financial Activities for the charity.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Ultimately, the entity will be supported by The Bloom Foundation, a connected charity, who have confirmed their support to cover any financial shortfalls for at least 12 months from the approval date of these financial statements. The Trustees have a reasonable expectation that the Charity and its subsidiaries will be able to continue in operation for the foreseeable future.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Designated funds are subject to specific conditions for use, as set by the trustees.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5 Expenditure

Resources expended are recognised in the period to which they relate.

Direct charitable expenditure comprises all the expenditure relating to the activities carried out to achieve the charitable objectives.

Support costs represent costs that cannot be directly attributed to activities. These costs have been allocated across the charitable activities on the basis of grant expenditure.

Governance includes the costs of compliance with constitutional and statutory requirements and has been allocated across the charitable activities in the same proportions as support costs.

Wages and salaries have also been allocated across the charitable activities on the basis of time.

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings 124 years on a straight line basis Equipment and Machinery 5 years on a straight line basis Fixtures and fittings 5 years on a straight line basis Educational Resources 5 years on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7

Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Land and Buildings

The land and buildings asset class, which is enclosed within BNJC Trading Limited, has used valuation invoices from third party surveyors to estimate the cost of the building as at the year ended 30 June 2024.

3 Donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Donatons and gifs 2,186,365 109,843 2,296,208 550,200 3,022,940 3,573,140

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2024

4
5
6		 Charitable actvites
Unrestricted
Funds
Unrestricted
Funds
2024
2023
£
£
Engagement Income
53,172
610
Other trading actvites
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Trading actvity income
553,574
35,396
Trading actvity income: other
84,349
-
Other trading actvites
637,923
35,396
Raising funds
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Fundraising and publicity
Seeking donatons, grants and legacies
4,124
1,985
Trading costs
Operatng trading company undertaking non-charitable trading actvity
250,161
52,011
Staf costs
64,924
7,633
Support costs
1,475,361
341,036
Trading costs
1,790,446
400,680
1,794,570
402,665		 Charitable actvites
Unrestricted
Funds
Unrestricted
Funds
2024
2023
£
£
Engagement Income
53,172
610
Other trading actvites
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Trading actvity income
553,574
35,396
Trading actvity income: other
84,349
-
Other trading actvites
637,923
35,396
Raising funds
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Fundraising and publicity
Seeking donatons, grants and legacies
4,124
1,985
Trading costs
Operatng trading company undertaking non-charitable trading actvity
250,161
52,011
Staf costs
64,924
7,633
Support costs
1,475,361
341,036
Trading costs
1,790,446
400,680
1,794,570
402,665
52,011
7,633
341,036
400,680
402,665

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

7 Charitable activities

Unrestricted
funds
Unrestricted
funds
2024
2023
£
£
Depreciaton and impairment
3,714
1,374
Charitable and politcal donatons
2,458
1,000
Staf uniforms, clothing and cleaning
20,657
5,464
Hire of equipment
3,900
2,620
Meetngs and conference costs
1,802
4,992
Service charge
-
5,282
32,531
20,732
Share of support costs (see note 8)
1,259,544
500,015
Share of governance costs (see note 8)
53,100
9,775
1,345,175
530,522
Analysis by fund
Unrestricted funds - general
1,179,458
530,522
Unrestricted funds - designated
55,874
-
Restricted funds
109,843
-
1,345,175
530,522		 Unrestricted
funds
Unrestricted
funds
2024
2023
£
£
Depreciaton and impairment
3,714
1,374
Charitable and politcal donatons
2,458
1,000
Staf uniforms, clothing and cleaning
20,657
5,464
Hire of equipment
3,900
2,620
Meetngs and conference costs
1,802
4,992
Service charge
-
5,282
32,531
20,732
Share of support costs (see note 8)
1,259,544
500,015
Share of governance costs (see note 8)
53,100
9,775
1,345,175
530,522
Analysis by fund
Unrestricted funds - general
1,179,458
530,522
Unrestricted funds - designated
55,874
-
Restricted funds
109,843
-
1,345,175
530,522		 Unrestricted
funds
Unrestricted
funds
2024
2023
£
£
Depreciaton and impairment
3,714
1,374
Charitable and politcal donatons
2,458
1,000
Staf uniforms, clothing and cleaning
20,657
5,464
Hire of equipment
3,900
2,620
Meetngs and conference costs
1,802
4,992
Service charge
-
5,282
32,531
20,732
Share of support costs (see note 8)
1,259,544
500,015
Share of governance costs (see note 8)
53,100
9,775
1,345,175
530,522
Analysis by fund
Unrestricted funds - general
1,179,458
530,522
Unrestricted funds - designated
55,874
-
Restricted funds
109,843
-
1,345,175
530,522
2024
£
3,714
2,458
20,657
3,900
1,802
-
32,531
1,259,544
53,100
1,345,175
1,179,458
55,874
109,843
1,345,175		 2023
£
1,374
1,000
5,464
2,620
4,992
5,282
20,732
500,015
9,775
530,522
530,522
-
-
530,522

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

8
Support costs
Support costs
Governance
costs
£
£
Staf costs
1,487,815
-
Depreciaton
199,031
-
Operatng lease charges
6,185
-
Exchange Losses
-
-
Travel
16,672
-
IT sofware, consumables
70,224
-
Utlites
281,759
-
Insurance
26,454
-
Licenses and subscriptons
42,443
-
Repairs and maintenance
68,636
-
Printng, postage and
statonery
13,720
-
Advertsing and marketng
30,737
-
General expenses
308,795
-
Rent and rates
176,008
-
Audit fees
-
42,580
Accountancy
-
7,336
Legal and professional
-
9,610
2,728,479
59,526
Analysed between
Trading
1,468,935
6,426
Charitable actvites
1,259,544
53,100
2,728,479
59,526		 2024
Support costs
Governance
costs
£
£
£
1,487,815
406,853
-
199,031
29,751
-
6,185
-
-
-
19
-
16,672
17,231
-
70,224
8,652
-
281,759
61,898
-
26,454
3,030
-
42,443
8,920
-
68,636
13,044
-
13,720
6,814
-
30,737
103,860
-
308,795
149,863
-
176,008
24,880
-
42,580
-
9,286
7,336
-
6,236
9,610
-
489
2,788,005
834,815
16,011
1,475,361
334,800
6,236
1,312,644
500,015
9,775
2,788,005
834,815
16,011		 2023
£
406,853
29,751
-
19
17,231
8,652
61,898
3,030
8,920
13,044
6,814
103,860
149,863
24,880
9,286
6,236
489
850,826
341,036
509,790
850,826

Governance costs includes payments to the auditors of £42,580 (2023: £9,286) for audit fees, accountancy fees include £7,336 (2024: £6,236) in relation to other services provided by the auditors.

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

9 Employees

The average monthly number of employees during the year was:

BNJC
Novellino Brighton Limited
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneraton was £60,000 or more were:
£70,000 - £80,000
£80,000 - £90,000
£100,000 - £110,000		 2024
Number
20
26
46
2024
£
1,309,453
117,414
88,866
1,515,733
2024
Number
1
1
1		 2023
Number
7
6
13
2023
£
386,329
17,864
5,324
409,517
2023
Number
-
-
-

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

10 Tangible fixed assets Group

Leasehold land
and buildings
Equipment and
Machinery
Fixtures and
ftngs
Educatonal
Resources
£
£
£
£
Cost
At 1 July 2023
2,513,210
624,446
108,166
12,309
Additons
293,800
272,177
58,965
5,875
Disposals
-
(1,080)
-
-
At 30 June 2024
2,807,010
895,543
167,131
18,184
Depreciaton and impairment
At 1 July 2023
-
23,970
6,795
360
Depreciaton charged in the year
26,508
145,634
26,506
4,450
Eliminated in respect of disposals
-
(353)
-
-
At 30 June 2024
26,508
169,251
33,301
4,810
Carrying amount
At 30 June 2024
2,780,502
726,292
133,830
13,374
At 30 June 2023
2,513,210
600,476
101,371
11,949
Charity
Leasehold land
and buildings
Equipment and
Machinery
Fixtures and
ftngs
Educatonal
Resources
£
£
£
£
Cost
At 1 July 2023
-
704
13,969
12,309
Additons
16,000
-
13,680
5,875
At 30 June 2024
16,000
704
27,649
18,184
Depreciaton and impairment
At 1 July 2023
-
156
387
360
Depreciaton charged in the year
4,000
235
3,382
4,450
At 30 June 2024
4,000
391
3,769
4,810
Carrying amount
At 30 June 2024
12,000
313
23,880
13,374
At 30 June 2023
-
548
13,582
11,949		 Total
£
3,258,131
630,817
(1,080)
3,887,868
31,125
203,098
(353)
233,870
3,653,998
3,227,006
Total
£
26,982
35,555
62,537
903
12,067
12,970
49,567
26,079

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

11 Fixed asset investments (Charity)

Cost or valuaton
At 1 July 2023
Additons
At 30 June 2024
Impairment
At 1 July 2023
Impairment losses
At 30 June 2024
Carrying amount
At 30 June 2024
At 30 June 2023
Fixed asset investments comprise:
Investments in subsidiaries
Loans to subsidiaries
12		 Other investments
as restated
£
3,274,220
1,008,949
4,283,169
-
1,566,238
1,566,238
2,716,931
3,274,220
2024
2023
as restated
£
£
101
91
2,716,840
3,274,129
2,716,941
3,274,220		 Other investments
as restated
£
3,274,220
1,008,949
4,283,169
-
1,566,238
1,566,238
2,716,931
3,274,220
2024
2023
as restated
£
£
101
91
2,716,840
3,274,129
2,716,941
3,274,220
4,283,169
-
1,566,238
1,566,238
2,716,931
3,274,220
2023
s restated
£
91
3,274,129
3,274,220

12 Subsidiaries

Details of the charity's subsidiaries at 30 June 2024 are as follows:

Name of undertaking Registered
Nature of business		 Class of % Held % Held
ofce shares held Direct Indirect
BNJC Trading Limited England and Wales Other letng and operatng of own Ordinary 100.00
or leased real estate
Novellino Brighton Limited England and Wales Licensed restaurants Ordinary 100.00

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

13
Stocks
Raw materials and consumables
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Other taxaton and social security
Trade creditors
Other creditors
Accruals and deferred income		 Group
2024
£
60,169
Group
2024
£
117,743
186,785
46,080
350,608
Group
2024
£
42,298
131,922
187,939
1,047,265
1,409,424		 2023
£
-
2023
£
27,579
182,162
61,222
270,963
2023
£
17,754
148,728
109,022
478,987
754,491		 Charity
2024
£
-
Charity
2024
a
£
98,370
16,813
25,255
140,438
Charity
2024
£
22,426
32,637
102,058
63,720
220,841		 2023
£
-
2023
s restated
£
22,580
-
56,070
78,650
2023
£
10,290
45,705
106,582
25,864
188,441

16 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £88,866 (2023: £5,324).

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

The Bloom Foundaton
Community Security Trust (CST)		 Movement in funds
Incoming
resources
Transfers
Balance at
1 July 2023
Balance at
30 June 2024
£
£
£
£
2,922,940
(2,680,038)
242,902
242,902
100,000
-
100,000
100,000
3,022,940
(2,680,038)
342,902
342,902		 Movement in funds
Incoming
resources
Transfers
Balance at
1 July 2023
Balance at
30 June 2024
£
£
£
£
2,922,940
(2,680,038)
242,902
242,902
100,000
-
100,000
100,000
3,022,940
(2,680,038)
342,902
342,902
342,902

The Bloom Foundation: Represent core costs funding for the building, enclosed within BNJC Trading Limited. This includes the construction of the co-working space and gym within the site.

Community Security Trust (CST): Represents grants towards improving and enhancing the safety and security of the site.

18 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Tangible Fixed Assets Transfers
£
2,680,038
2,680,038		 Movement in funds
Balance at
1 July 2023
Resources
expended
Balance at
30 June 2024
£
£
£
2,680,038
(55,874)
2,624,164
2,680,038
(55,874)
2,624,164		 Movement in funds
Balance at
1 July 2023
Resources
expended
Balance at
30 June 2024
£
£
£
2,680,038
(55,874)
2,624,164
2,680,038
(55,874)
2,624,164
2,624,164

Tangible Fixed Assets: Funds have been set aside by the trustees, for construction of the building and purchase of specific assets within (shown in Note 11).

Total 2023 £ 3,227,006 (384,374) 2,842,632
Restricted funds 2023 £ - 342,902 342,902
Designated funds 2023 £ 3,128,029 (447,991) 2,680,038
Unrestricted funds 2023 £ 98,977 (279,285) (180,308)
Total 2024 £ 3,653,998 (963,808) 2,690,190
Restricted funds 2024 £ - 342,902 342,902
Designated funds 2024 £ 3,553,064 (928,900) 2,624,164
Unrestricted funds 2024 £ 100,934 (377,810) (276,876)
Analysis of net assets between funds Fund balances at 30 June 2024 are represented by: Tangible assets Current assets/(liabilites)
19

BNJC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024

20 Related party transactions

During the year, BNJC (Charity) received grants of £2,235,000 (2023: £3,472,940) from The Bloom Foundation of which M Sugarman is a trustee.

BNJC (Group) owed £651,100 (2023: £447,991) to AGB Reading LLP (a connected entity of which M Sugarman is a member) at the year end. AGB Reading LLP are also a party to the land and buildings asset featured in the statement of financial position.

BNJC (Group) owed £206,184 (2023: £nil) to AGB Hove Limited (a connected company of which M Sugarman is a director) at the year end. During the year under review BNJC (Group) incurred £131,333 (2023: £nil) in rent for properties leased from AGB Hove Limited.

Accountancy fees of £7,518 (2023: £7,032) were paid to CCI Accountants Ltd (formerly known as Chisnall Comer Ismail & Co), of which R F Comer is a partner.

21
Cash generated from operatons
(Defcit)/surpus for the year
Adjustments for:
Gain on disposal of tangible fxed assets
Depreciaton and impairment of tangible fxed assets
Movements in working capital:
(Increase) in stocks
(Increase) in debtors
Increase in creditors
Cash generated from operatons
22
Analysis of changes in net funds
The charity had no debt during the year.		 2024
£
(152,442)
(353)
203,098
(60,169)
(79,645)
176,589
87,078		 2023
£
2,675,959
-
31,125
-
(234,200)
731,603
3,204,487

Issuer

HW Fisher

Document generated Mon, 22nd Sep 2025 14:26:15 BST

Document fingerprint b0b43d1ea1e365b1cd24a9b4be89f5ed

Parties involved with this document

Document processed

Party + Fingerprint

Mon, 22nd Sep 2025 14:51:35 BST Mon, 22nd Sep 2025 14:52:11 BST

Michael Davids - Signer (64d0d0925da02f2ab2c40c31f6a972ed) Simon Mott-Cowan - Signer (60a6200e9c90412784eef122359740b1)

Audit history log

Date

Action

Mon, 22nd Sep 2025 14:26:15 BST Mon, 22nd Sep 2025 14:26:15 BST

Mon, 22nd Sep 2025 14:26:15 BST Mon, 22nd Sep 2025 14:26:15 BST

Mon, 22nd Sep 2025 14:26:16 BST Mon, 22nd Sep 2025 14:39:35 BST

Mon, 22nd Sep 2025 14:44:47 BST Mon, 22nd Sep 2025 14:46:09 BST Mon, 22nd Sep 2025 14:46:29 BST Mon, 22nd Sep 2025 14:46:41 BST Mon, 22nd Sep 2025 14:51:36 BST Mon, 22nd Sep 2025 14:51:36 BST

Mon, 22nd Sep 2025 14:51:38 BST Mon, 22nd Sep 2025 14:52:01 BST Mon, 22nd Sep 2025 14:52:11 BST Mon, 22nd Sep 2025 14:52:12 BST

Envelope generated by Amber Irshad (185.105.75.178) Document generated with fingerprint 8744a3b4bb9222137c51ba0a2eb48094 (185.105.75.178) Document generated with fingerprint 21ab8eff2ffe082b3f25b587e5ec3044 (185.105.75.178) Document generated with fingerprint 9f608cbfbebf61e548820f4827d18538 (185.105.75.178) Document generated with fingerprint b0b43d1ea1e365b1cd24a9b4be89f5ed (185.105.75.178) Sent the envelope to Michael Davids (davidsthe@aol.com) for signing (89.150.28.98) Document emailed to davidsthe@aol.com Michael Davids opened the document email. (87.248.116.79) Michael Davids opened the document email. (87.248.116.79) Michael Davids viewed the envelope (109.158.17.51) Michael Davids signed the envelope (109.158.17.51) Sent the envelope to Simon Mott-Cowan (smcowan@hwfisher.co.uk) for signing (109.158.17.51) Document emailed to smcowan@hwfisher.co.uk Simon Mott-Cowan viewed the envelope (217.207.100.70) Simon Mott-Cowan signed the envelope (217.207.100.70) This envelope has been signed by all parties (217.207.100.70)