OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Charity Registration No. 284447

THE BEIS MALKA TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

THE BEIS MALKA TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr. A Grossman
Mr. A Taub
Mr. B Hofstatter
Mr J Bleichfeld
Charity number 284447
Principal address 93 Alkham Road
London
N16 6XD
Auditor Landau Morley LLP
325-327 Oldfield Lane North
Greenford
Middlesex
UB6 0FX

THE BEIS MALKA TRUST

CONTENTS

Page
Trustees' report 1 - 4
Independent auditor's report 5 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 23

THE BEIS MALKA TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The trustees are pleased to present the annual report for the year ending 31 March 2021 which has been a year of tremendous growth in spite of the great challenges it presented.

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 governing document, 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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

To advance the education of children and young people aged 2 to 16 years from the Jewish community by providing an educational framework which complies with standards identified by the Department for Children, Schools and Families (now the DfE).

To advance the education of the pupils at Beis Malka Nursery and School by providing and assisting in the provision of facilities beyond that which is required.

The objectives are achieved through the delivery of a vibrant, broad and balanced curriculum. Quality teaching is ensured through the provision of comprehensive CPD opportunities.

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. In planning its activities for the year, as can be seen from this Report, the charity recognises that its aims are for the public benefit.

The school uses volunteers during lunch time to supervise children. The school also uses volunteers as assistants in the classroom to support teaching and learning.

Achievements and performance

As soon as Covid-19 struck the UK, the effects were felt by our pupils. Due to the close-knit nature and highlevel of infection in the community we serve, all children knew someone who has been adversely affected by the illness. This led to anxiety and despondency. Moreover, many of their parents were ill-equipped to deal with this crisis, as they battled their own fears and insecurities. It was crucial for us, as a leading community school to step in and empower them to survive these trying times. And we did.

Although we had to close our physical doors, we knew we would never close our hearts on our pupils and their families. We adapted, improvised, crafted and tweaked methods to ensure continued learning and to maintain strong connections for all. Thus, learning continued via a secure teleconference line. Beautifully designed, engaging home-learning packs were delivered weekly to support their learning and keep the motivation strong. Attendance was taken at the beginning and end of every session, with a reward system incentivising high attendance rates in spite of the obvious challenges. We credit our amazing staff for the time, patience and energy invested.

To ensure the safety of our children, our teleconference system was closely monitored at all times. All communications taking place were only listened to by those who had permission to do so using a personal password. It was through this conference line that we reminded our pupils to keep themselves safe and whom and how they could contact if they were anxious, neglected, abused or troubled about something they had experienced, seen or heard. They were likewise encouraged to reach out if they were experiencing academic difficulties with the distance learning. Those struggling were supported through 1:1 intervention and additional learning resources.

THE BEIS MALKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

To keep the girls active and driven, departments delivered stimulating extra-curricular competitions. There was a music competition, where pupils composed moving pieces shared with the rest of their year/school. There was a poetry competition, bringing out much latent talent and excellent compositions. Moreover, the history department invited the girls to use any form of media or writing to present how they imagine this period will be reported on 10 years down the line. It made for an awesome showcase of talent and self-expression. Younger pupils received weekly crafts, and exciting hands-on bake-boxes and activities helping the children entertain themselves constructively whilst reinforcing important skills to support their learning. Children were invited to send in pictures of their artwork which were displayed in newsletters sent to all pupils. Special occasions like the end of a chapter were suitably celebrated. A qualified social-skills practitioner ran a very special program tailored to the challenges children were experiencing, cooped up as they were at home in the company of their siblings. They were encouraged to share, compromise, problem solve, and maintain an upbeat attitude. Exciting gifts were sent to children who were able to report positive achievements.

For the Year 10 and Year 11 pupils who were due to be taking their GCSEs school closure was especially challenging especially with much uncertainty surrounding these exams. However, exceeding all expectation, our girls scored amazingly well on their teacher moderated examinations. This was in spite of the fact that coverage was compromised, evidencing that they had acquired the skills required.

A tremendous undertaking was the early opening in April of our Send Department. Responding to the desperation of our vulnerable pupils and those with special needs, extensive arrangements were made to provide therapy and 1:1 learning sessions for these pupils in Covid-safe premises.

Staff motivation and wellbeing was kept at good levels through support sessions facilitated by the Headteachers and through continued CPD as Headteachers discreetly joined learning sessions.

Parents were sent several questionnaires enquiring about their and their children’s welfare and asking for feedback on provision. This was a great forum for parents to share their opinions, concerns and suggestions greatly impacting provision.

Once the school was able to reopen, the tremendous fallout was apparent, and much time was spent during those initial weeks assessing pupil’s development across departments. Children were assessed academically, socially and emotionally and many forms of support were immediately implemented to address needs.

The school was lucky to benefit from the WAMHS (Wellbeing and Mental Health School project) services offered in Hackney. Under the guidance of their specialist we implemented a three-pronged approach to improve children’s mental health. This focused on the key partners in the children’s wellbeing - parents, teachers and children. Support was given to parents and teachers who benefitted from training sessions and access to appropriate resources which created awareness of issues that could present in children. Parents of children displaying worrying behaviours were invited to meet with the specialist and it was unbelievable how many parents requested the help and how empowered they felt through the guidance received. We also used their expertise to revise our PSHE policy incorporating additional social programmes designed to promote healthy peer relationships and constantly encouraging children to express their feelings, enhancing their emotional wellbeing.

The safety of our pupils is at the heart of everything we do. Policies and procedures were constantly reviewed so that they remained responsive to the times. All necessary risk-assessments were carried out. Staff were kept informed of updates and were as always committed to compliance.

THE BEIS MALKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Financial review

The results for the year are shown in the attached financial statements.

The risks and uncertainties facing the school are primarily rising costs in all areas. The trustees hope that with the improving economy more parents will be able to pay more to the school which will ensure the school's sustainability.

The Trustees aim to keep reserves of one month's wages, approximately £119,000. The trustees are satisfied that this level of reserves can be reached and maintained in light of the increased funding available from the Local Authority. The Trustees will also explore additional fundraising opportunities in order to maintain the desired level of reserves. The school's leadership team have also introduced tighter control on the spending of funds which should result in significant cost savings.

At the year end, unrestricted free reserves stood at £ 73,586 (2020: £ nil ) . The t rustees are working to increase reserves and at the date of signature the charity held cash reserves in excess of £140,000.

Future developments

Looking ahead we aim to maintain our determination to improve outcomes for all children. In plan are a number of stimulating PSHE projects which will cultivate pupils’ skills and aptitudes like teamwork, communication, and resilience, all crucial to navigating the challenges and opportunities of the modern world.

Moreover, we want to provide further training and awareness for staff in the areas of Mental Health, to further enhance the whole-school approach to promoting the emotional wellbeing of children, especially the many negatively affected by the Coronavirus.

We also wish to deliver a comprehensive agricultural project, relating to the upcoming Shmitta year – a sabbatical year observed every seventh year by farmers in Israel. Pupils will be made aware of many facets of the farming process, meet a farmer observing these laws and help raise funds for charities supporting such farmers.

We wish to revamp the pre-nursery playground, extending the space, laying soft-surfacing and painting the walls to make the space safer, more inviting and suitable for its young beneficiaries.

THE BEIS MALKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management

The Beis Malka Trust is a Registered Charity (Charity no. 284447) and is constituted as an unincorporated association. Its objects, powers and other constitutional matters are set out in its Constitution. The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the Trust deed. The charity is managed and controlled by the trustees, who meet regularly.

It is not the intention of the trustees of the charity to appoint any new trustees for the foreseeable future. Should the situation change in the future, the trustees will apply suitable recruitment induction and training procedures.

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate the exposure to the major risks.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr. A Grossman

Mr. A Taub Mr. B Hofstatter Mr J Bleichfeld

Statement of trustees' responsibilities

The trustees 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).

The law applicable to charities in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that year.

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

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' r eport was approved by the Board of Trustees.

Mr. B Hofstatter

Trustee Dated: 21 January 2022

THE BEIS MALKA TRUST

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE BEIS MALKA TRUST

Opinion

We have audited the financial statements of The Beis Malka Trust (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet, the 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) .

In our opinion, the financial statements:

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 charity 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 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 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.

THE BEIS MALKA TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BEIS MALKA TRUST

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the s tatement of trustees' r esponsibilities, the trustees 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 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 cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations - this responsibility lies with management with the oversight of the directors.

The extent to which our procedures can detect irregularities, including fraud, is detailed below.

THE BEIS MALKA TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BEIS MALKA TRUST

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organized schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.

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.

Other matter s

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

THE BEIS MALKA TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BEIS MALKA TRUST

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Landau Morley LLP Chartered Accountants Statutory Auditor

21 January 2022

325-327 Oldfield Lane North Greenford Middlesex UB6 0FX

Landau Morley LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE BEIS MALKA TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income and endowments from:
Donations and legacies
3
479,670
755,201
Other income
4
1,519,624
-
Total income
1,999,294
755,201
Expenditure on:
Raising funds
5
13,783
-
Charitable activities
6
1,698,865
932,220
Other
11
1,551
-
Total resources expended
1,714,199
932,220
Net incoming/(outgoing)
resources before transfers
285,095
(177,019)
Gross transfers
between funds
(87,578)
87,578
Net income/(expenditure)
for the year/
Net movement in funds
197,517
(89,441)
Fund balances at 1 April 2020
132,951
105,584
Fund balances at 31 March
2021
330,468
16,143		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
1,234,871
330,602
770,403
1,519,624
1,555,693
-
2,754,495
1,886,295
770,403
13,783
22,981
-
2,631,085
1,746,276
931,852
1,551
3,300
-
2,646,419
1,772,557
931,852
108,076
113,738
(161,449)
-
(146,601)
146,601
108,076
(32,863)
(14,848)
238,535
165,816
120,432
346,611
132,953
105,584		 Total
2020
£
1,101,005
1,555,693
2,656,698
22,981
2,678,128
3,300
2,704,409
(47,711)
-
(47,711)
286,248
238,537
Donations and legacies
3
Other income
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Other
11
Total resources expended
Net incoming/(outgoing)
resources before transfers
Gross transfers
between funds
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1 April 2020
Fund balances at 31 March
2021

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

All income and expenditure derive from continuing activities.

THE BEIS MALKA TRUST

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets/(liabilities)
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
Income funds
Restricted funds
16
Unrestricted funds		 2021
£
£
966,273
131,969
75,485
207,454
(133,868)
73,586
1,039,859
(693,248)
346,611
16,143
330,468
346,611		 2020
£
£
883,804
144,145
94,930
239,075
(241,715)
(2,640)
881,164
(642,627)
238,537
105,584
132,953
238,537

The financial statements were approved by the Trustees on 21 January 2022

Mr. B Hofstatter Trustee

THE BEIS MALKA TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

2021 2020
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 19 162,891 400,359
Investing activities
Purchase of tangible fixed assets (209,933) (415,814)
Proceeds on disposal of tangible fixed
assets 7,099 -
Net cash used in investing activities (202,834) (415,814)
Financing activities
Proceeds of new bank loans 50,000 -
Repayment of bank loans (29,502) (28,406)
Net cash generated from/(used in)
financing activities 20,498 (28,406)
Net decrease in cash and cash equivalents (19,445) (43,861)
Cash and cash equivalents at beginning of year 94,930 138,791
Cash and cash equivalents at end of year 75,485 94,930

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

The Beis Malka Trust is a charity. T he registered office is 93 Alkham Road , London , N16 6XD .

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

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.

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.

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.

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.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

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:

Fixtures and fittings 17.5% reducing balance Motor vehicles 25% reducing balance Playground equipment 17.5% reducing balance

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 the statement of financial activities .

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 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.

1.9 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.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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 p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

1.10 Employee benefits

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

1.11 Government grants

Government grants relating to tangible fixed assets are recorded as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2021
2021
£
£
Donations and gifts
30,284
-
Grants
449,386
755,201
479,670
755,201
Donations and gifts
Other
30,284
-
30,284
-
Grants receivable for
core activities
Government grants
439,392
696,950
Other grants
9,994
58,251
449,386
755,201
Other income
Rent receivable
Parental contributions		 TotalUnrestricted
Restricted
Total
funds
funds
2021
2020
2020
2020
£
£
£
£
30,284
124,855
-
124,855
1,204,587
205,747
770,403
976,150
1,234,871
330,602
770,403
1,101,005
30,284
124,855
-
124,855
30,284
124,855
-
124,855
1,136,342
205,747
686,420
892,167
68,245
-
83,983
83,983
1,204,587
205,747
770,403
976,150
UnrestrictedUnrestricted
funds
funds
2021
2020
£
£
8,462
8,124
1,511,162
1,547,569
1,519,624
1,555,693

4 Other income

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

5 Raising funds

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Fundraising and publicity
Other fundraising costs 13,783 22,981
13,783 22,981

6 Charitable activities

Staff costs
Depreciation and
impairment
Educational supplies
Rent
Training
Exam fees
Support lesson costs
Grant funding of activities
(see note 7)
Share of support costs
(see note 8)
Share of governance costs
(see note 8)
Analysis by fund
Unrestricted funds
Restricted funds		 School
2021
£
1,273,936
115,386
309,940
66,000
16,077
12,384
69,450
1,863,173
1,065
193,901
11,164
2,069,303
1,698,865
370,438
2,069,303		 Nursery
2021
£
334,030
3,425
10,562
86,850
6,890
-
-
441,757
-
116,304
3,721
561,782
-
561,782
561,782		 Total
2021
£
1,607,966
118,811
320,502
152,850
22,967
12,384
69,450
2,304,930
1,065
310,205
14,885
2,631,085
1,698,865
932,220
2,631,085		 School
2020
£
1,188,530
96,979
363,226
83,280
31,923
1,885
48,623
1,814,446
396
205,198
17,713
2,037,753
1,746,276
291,477
2,037,753		 Nursery
2020
£
254,968
4,151
75,349
148,355
13,682
-
-
496,505
-
137,965
5,905
640,375
-
640,375
640,375		 Total
2020
£
1,443,498
101,130
438,575
231,635
45,605
1,885
48,623
2,310,951
396
343,163
23,618
2,678,128
1,746,276
931,852
2,678,128

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Grants payable

School School
2021 2020
£ £
Grants to institutions:
Other 1,065 396

Details of the grants to institutions made during the year in accordance with the charity's objectives.

8 Support costs

Support
costs
Governance
costs
£
£
Utility and water
23,906
-
Repairs
114,671
-
Insurance
12,728
-
Travel expenses
15,893
-
Telephone
7,034
-
Cleaning
57,333
-
Sundry
878
-
Security
58,461
-
Bank charges and
interest
19,303
-
Audit fees
-
6,550
Accountancy
-
1,570
Legal & professional
fees
-
6,765
310,205
14,885
Analysed between
Charitable activities
310,205
14,885		 2021
£
23,906
114,671
12,728
15,893
7,034
57,333
878
58,461
19,303
6,550
1,570
6,765
325,090
325,090		 Support
costs
Governance
costs
£
£
11,386
-
98,423
-
13,860
-
37,606
-
8,401
-
65,831
-
2,754
-
84,181
-
20,721
-
-
5,920
-
1,300
-
16,398
343,163
23,618
343,163
23,618		 2020
£
11,386
98,423
13,860
37,606
8,401
65,831
2,754
84,181
20,721
5,920
1,300
16,398
366,781
366,781

9 Trustees

During the year a trustee was paid £ 7,256 (2020: £7,073) as an employee of the trust not for trustee services.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10 Employees

The average monthly number of employees during the year was:

Part time teaching staff
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2021
Number
264
2021
£
1,593,617
13,697
652
1,607,966		 2020
Number
249
2020
£
1,431,153
11,982
363
1,443,498

There were no employees whose annual remuneration was more than £60,000.

11 Other

Unrestricted Unrestricted
funds funds
2021 2020
Net loss on disposal of tangible fixed assets 1,551 3,300
1,551 3,300

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

12
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
Motor vehicles
£
£
£
Cost
At 1 April 2020
413,275
680,266
18,000
Additions
-
194,091
15,840
Disposals
-
(13,524)
-
At 31 March 2021
413,275
860,833
33,840
Depreciation and impairment
At 1 April 2020
-
241,429
5,878
Depreciation charged in the year
-
108,396
6,990
Eliminated in respect of disposals
-
(4,874)
-
At 31 March 2021
-
344,951
12,868
Carrying amount
At 31 March 2021
413,275
515,882
20,972
At 31 March 2020
413,275
438,838
12,122
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Bank loans
Trade creditors
Other creditors
Accruals and deferred income		 Playground
equipment
£
50,545
-
-
50,545
30,976
3,425
-
34,401
16,144
19,569
2021
£
124,802
4,650
2,517
131,969
2021
£
30,646
76,467
243
26,512
133,868		 Total
£
1,162,086
209,931
(13,524)
1,358,493
278,283
118,811
(4,874)
392,220
966,273
883,804
2020
£
16,326
116,376
11,443
144,145
2020
£
29,502
159,263
43,981
8,969
241,715

The bank loan has been secured against the freehold land and buildings held by the charity.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

15 Creditors: amounts falling due after more than one year

Bank loans
Other creditors		 2021
£
396,196
297,052
693,248		 2020
£
376,842
265,785
642,627

The bank loan has been secured against the freehold land and buildings held by the charity.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

16 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:

Balance at
1 April 2019
£
Playground equipment
23,720
Nursery
96,712
Security
-
SEND department
-
120,432		 Movement in funds
Income
Expenditure
£
£
-
(4,152)
541,345
(552,041)
83,983
(84,181)
145,075
(291,478)
770,403
(931,852)		 Transfers
Balance at
1 April 2020
£
£
-
19,568
-
86,016
198
-
146,403
-
146,601
105,584		 Movement in funds
Income
Expenditure
£
£
-
(3,425)
506,251
(499,896)
58,251
(58,461)
190,699
(370,438)
755,201
(932,220)		 Transfers
Balance at
31 March 2021
£
£
-
16,143
(92,371)
-
210
-
179,739
-
87,578
16,143

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

17 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Fund balances at 31
March 2021 are
represented by:
Tangible assets 950,130 16,143 966,273 864,235 19,569 883,804
Current assets/
(liabilities) 73,586 - 73,586 (88,655) 86,015 (2,640)
Long term liabilities (693,248) - (693,248)
(642,627)		 - (642,627)
330,468 16,143 346,611 132,953 105,584 238,537

18 Related party transactions

Key Management Personnel

The Key management personnel of the Charity comprise the Trustees an d the Senior Leadership Team. The total employee benefits of the key management personnel of the charity were £ 109,709 (20 20 : £ 95,702 ).

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The Charity operates from premises owned by BM Asset Management Limited, a Charity with common trustees.

During the year, the Charity paid rent totaling £ 83,200 (2020: £ 83,200 ) to BM Asset Management Limited.

At the year end, £297,052 (2020: £265,785) was owed to BM Asset Management Limited.

During the year, the charity paid rent totaling £ Nil (2020: £42,000) to Jewish Training Academy For Girls (JTAG) Limited, a company in which Mr A Grossman, a trustee, is a director.

During the year, the charity received £ 66,066 (2020: £ 3 2,949) from Happy Kids, a registered charity, in respect of recharged salaries and resources. Mr J Bleichfeld’s wife is a trustee of Happy Kids.

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

19 Cash generated from operations 2021 2020
£ £
Surplus/(deficit) for the year 108,077 (47,711)
Adjustments for:
Loss on disposal of tangible fixed assets 1,551 3,300
Depreciation and impairment of tangible fixed assets 118,811 101,130
Movements in working capital:
Decrease/(increase) in debtors 12,176 (35,264)
(Decrease)/increase in creditors (77,724) 378,904
Cash generated from operations 162,891 400,359
20 Analysis of changes in net (debt)/funds
At 1 April 2020 Cash flows At 31 March 2021
£ £ £
Cash at bank and in hand 94,930 (19,445) 75,485
Loans falling due within one year (29,502) (1,144) (30,646)
Loans falling due after more than one year (376,842) (19,354) (396,196)
(311,414) (39,943) (351,357)