2022-03-31-accounts

Charity registration number 284447

THE BEIS MALKA TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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 - 7
Statement of financial activities	8
Balance sheet	9
Statement of cash flows	10
Notes to the financial statements	11 - 22

THE BEIS MALKA TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees are pleased to present the annual report for the year ending 31 March 2022 which has been a very momentous year for the school, appreciating that we were able to remain open for the full academic year, following the tumultuous lockdowns of the year before.

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)" (effective 1 January 2019).

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

The aftermath of Covid left significant gaps in education and wellbeing. The gap in education was vast. Although many children and teenagers were faring poorly, academically our pupils were disproportionately affected. Due to cultural restrictions on internet usage, lessons during lockdown were held by tele-conference. This was challenging, especially for the visual learners and more so for those with EAL status who depend on the face-toface interactions to support learning.

Initially, we assessed the pupils, creating a baseline assessment and setting appropriate targets. We delivered additional GCSE support sessions, SATs clubs, homework clubs and tutoring sessions to address the academic fallout. Students also benefitted from exciting spelling bees, times-table competitions, writing contests and fun quizzes. We were gratified that feedback from parents,’ teachers and pupils as well as the fabulous exam results all attested to the efforts invested.

With reading being the key for success in all subjects, we incorporated a new project in the Early Years department, entitled The Power of Reading. This develops reading skills in an innovative way as pupils delve into a storybook analysing the characters, the plot and the objects or animals discussed. This provides them with a thirst for reading, helps them consolidate information and enhances cross-curricular knowledge in a variety of numerical, scientific or geographical concepts.

Staff benefitted from a range of training sessions, to empower them to help close the gap in learning as well as support their emotional wellbeing. Furthermore, in their constant quest to improve and to share best practice, the school leaders visited a school in Manchester to observe lessons, interact with teachers and learn from their teaching methods. It was a most rewarding trip providing leaders with new skills. School leaders also attended a 3-day seminar delivered by Torah Umesorah which empowered them to coach their staff thereby maximising learning outcomes for all students.

• 1 -

THE BEIS MALKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Tackling the academic front was only the first stage we undertook to close the gap, as we know “educating the mind without educating the heart is no education at all” (Aristotle). In addition to increasing the availability of sessions with our emotional health team to meet the growing demand, we launched several additional programs and staff-training on Mental Health to help our children and young people deal with the trauma, become more aware and build resilience. One of these was a panel where students and staff facing real-life challenges answered questions pupils had on dealing with illness, familial issues and bereavement. A theme song was created to promote resilience, to encourage each other that we would come through this stronger and better.

The school continued to benefit from the WAHMS (Wellbeing and Mental Health School project) services offered in Hackney. Under the guidance of their specialist we continued to implement a three-pronged approach to improve children’s mental health focusing on the key partners in the children’s wellbeing - parents, teachers and children. Parents and teachers continued to access appropriate resources and training which created awareness of issues that could present in children. We also continue to use their expertise to revise our PSHE policy incorporating additional social programmes designed to promote healthy peer relationships and constantly encourage children to express their feelings enhancing their emotional wellbeing.

Since April 2021 the school provided nutritious meals for children in need. Although this has been a tremendous financial strain on the school, for many of these children this is a crucial part of their sustenance as their families struggle with the massive rise in food and fuel costs. We know it is our responsibility to provide for the physical wellbeing of our children so that they can progress, and we will do our utmost to continue. Currently, these children many of who are essentially entitled to free school meals are not in receipt of this government fund because they attend independent schools. Chinuch UK are currently advocating with the Local Authority and others influential politicians that Independent schools qualify for this funding.

We also launched a number of stimulating PSHE projects which cultivate pupils’ skills and aptitudes like teamwork, communication, and resilience all crucial to navigating the challenges and opportunities of the modern world. Secondary school pupils also benefitted from two motivational overnight retreats for 2 days each. The division of responsibilities amongst the students ensured that all had a part in preparing either the décor, program or culinary delights culminating in a fantastic experience in an enabling environment. The rural setting, relaxed ambience and beautiful atmosphere engendered much happiness, friendship and improved holistic wellbeing.

Towards the end of the financial year, secondary school students produced a dazzling performance showcasing their singing, dancing and acting talent to a 650 strong audience. All parts of the performance were created and led by the pupils themselves. This empowered pupils with many hard skills such as costume design, sewing, dancing, choreography etc as well as soft-skills including team-work, time-management, problem-solving and budgeting. The narrative depicted a family escaping communist Russia and their heroic journey to freedom. This inspiring message was a great source of encouragement to many a vulnerable teen that dawn always comes after darkness.

We have revamped 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. Not only have they benefited but many adult visitors to the school have also complimented the colourful area of our garden and how inviting it looks.

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. Designated Safeguarding Leads (DSL) from all departments across the school met to create a cohesive forum to share updates, anonymous case studies, training measures and ways to ensure their staff are committed to compliance.

With technology use requiring a constant vigil, the school held a technology awareness week where the dangers of technology were presented, and tools were provided to combat these. Incentives were offered to support pupils to undertake commitments to minimise their exposure.

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THE BEIS MALKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Financial review

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

The risks and uncertainties facing the school are primarily the rising costs in all areas. Concurrently,the trustees acknowledge that many parents are struggling due to the cost-of-living crisis and this has impacted the contributions they are able to make to the school. However, it is hoped that the school will secure government funding through the Free School Meals scheme for Independent schools, which is currently in discussion. This will ease the strain the cost of meals provision is currently having on the school’s budget. Also, many additional funding streams are being explored. A crowdfunding campaign is planned for Spring and combined anticipated income of £350,000 will improve the financial outlook for the charity. In light of the increased cost, the school's leadership team have also introduced tighter control on the spending of funds which should result in significant cost savings.

The Trustees aim to keep reserves of one month's wages, approximately £140,000. Although the charity doesn’t hold reserves at the year end, the trustees are confident that the increased income will enable the charity to rebuild these. At the year end, unrestricted free reserves stood at £Nil (2021: £73,586).

Future developments

As part of the PSHE extra-curricular learning programme and to promote goodwill, volunteering and sharing we plan to launch BMCZ initials for Beyond My Comfort Zone where pupils will be encouraged to leave their comfort zones and give to others through a variety of exciting mediums.

We will also be implementing a new Maths program White Rose utilising the Shanghai-Bar model including number sentences to support this.

The school also plans to introduce a new reading-based learning scheme to ensure cross-curricular learning in all departments.

• 3 -

THE BEIS MALKA TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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' report was approved by the Board of Trustees.

Mr. B Hofstatter

Trustee Dated: 31 January 2023

• 4 -

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 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and 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 Financial Reporting Standard 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:

• give a true and fair view of the state of the charity’s affairs as at 31 March 2022 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

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.

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:

• the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

• 5 -

THE BEIS MALKA TRUST

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

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, 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.

• We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with management (as required by auditing standards).

• We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

• Except for any known or possible non-compliance, and as required by auditing standards, our work in respect of these included enquiry of management about the charity's policies, procedures, and related controls regarding compliance with laws and regulations and if there are any known instances of noncompliance.

• We tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

• We performed analytical procedures to identify any unusual or unexpected relationships.

• We examined supporting documents for all material balances, transactions and disclosures.

• We evaluated the selection and application of accounting policies related to subjective measurements and complex transactions.

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).

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THE BEIS MALKA TRUST

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

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 matters

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.

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 auditor's 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 31 January 2023 Chartered Accountants Statutory Auditor 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.

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THE BEIS MALKA TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted Restricted funds funds 2022 2022 Notes £ £ Income and endowments from: Donations and legacies 3 696,835 350,566 Other income 4 1,518,794 - Total income 2,215,629 350,566 Expenditure on: Raising funds 5 17,585 - Charitable activities 6 2,329,844 437,937 Other 11 1,414 - Total expenditure 2,348,843 437,937 Net (outgoing)/incoming resources before transfers (133,214) (87,371) Gross transfers between funds (83,097) 83,097 Net (expenditure)/income for the year/ Net movement in funds (216,311) (4,274) Fund balances at 1 April 2021 330,468 16,143 Fund balances at 31 March 2022 114,157 11,869	Total Unrestricted Restricted funds funds 2022 2021 2021 £ £ £ 1,047,401 479,670 755,201 1,518,794 1,519,624 - 2,566,195 1,999,294 755,201 17,585 13,783 - 2,767,781 1,698,865 932,220 1,414 1,551 - 2,786,780 1,714,199 932,220 (220,585) 285,095 (177,019) - (87,578) 87,578 (220,585) 197,517 (89,441) 346,611 132,951 105,584 126,026 330,468 16,143	Total 2021 £ 1,234,871 1,519,624
		2,754,495
		13,783
		2,631,085
		1,551
		2,646,419
		108,076 -
		108,076 238,535
		346,611

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

All income and expenditure derive from continuing activities.

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THE BEIS MALKA TRUST

BALANCE SHEET

AS AT 31 MARCH 2022

Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current (liabilities)/assets Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Net assets Income funds Restricted funds 17 Unrestricted funds	2022 £ £ 981,459 24,645 51,728 76,373 (171,514) (95,141) 886,318 (760,292) 126,026 11,869 114,157 126,026	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

The financial statements were approved by the Trustees on 31 January 2023

Mr. B Hofstatter Trustee

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THE BEIS MALKA TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

		2022		2021
	Notes	£	£	£	£
Cash flows from operating activities
Cash generated from operations	20		105,067		162,891
Investing activities
Purchase of tangible fixed assets		(136,459)		(209,933)
Proceeds from disposal of tangible fixed
assets		5,203		7,099
Net cash used in investing activities			(131,256)		(202,834)
Financing activities
Proceeds from new bank loans		-		50,000
Repayment of bank loans		(31,780)		(29,502)
Payment of obligations under finance leases		34,212		-
Net cash generated from financing
activities			2,432		20,498
Net decrease in cash and cash equivalents			(23,757)		(19,445)
Cash and cash equivalents at beginning of year			75,485		94,930
Cash and cash equivalents at end of year			51,728		75,485

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THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

The Beis Malka Trust is a charity. The 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, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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.

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 amounts 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.

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.

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THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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.

No amortisation has been provided on freehold land and buildings and long leaseholds as the assets are kept in good repair and their useful lives and estimated residual values are such that depreciation is not material. Assets are reviewed annually for any impairment. The trustees are of the opinion that the recoverable amount is in excess of the carrying amount and feel that no provision for impairment is required.

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.

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THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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 payments 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 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.12 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.

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THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3 Donations and legacies

Unrestricted Restricted funds funds 2022 2022 £ £ Donations and gifts 25,300 - Grants 671,535 350,566 696,835 350,566 Donations and gifts Other 25,300 - 25,300 - Grants receivable for core activities Government grants 671,535 266,167 Other grants - 84,399 671,535 350,566	Total Unrestricted funds 2022 2021 £ £ 25,300 30,284 1,022,101 449,386 1,047,401 479,670 25,300 30,284 25,300 30,284 937,702 439,392 84,399 9,994 1,022,101 449,386	Restricted funds 2021 £ - 755,201 755,201 - - 696,950 58,251 755,201	Total 2021 £ 30,284 1,204,587
			1,234,871
			30,284
			30,284
			1,136,342 68,245
			1,204,587

4 Other income

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
	£	£
Rent receivable	22,970	8,462
Parental contributions	1,495,824	1,511,162
	1,518,794	1,519,624

• 14 -

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5 Raising funds

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
	£	£
Fundraising and publicity
Other fundraising costs	17,585	13,783
	17,585	13,783

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	Nursery 2022 £ 386,495 4,275 23,668 83,200 19,844 - - 517,482 - 118,860 7,288 643,630 570,726 72,904 643,630	Total 2022 £ 1,647,517 114,659 424,461 120,200 66,148 1,946 70,210 2,445,141 - 293,488 29,152 2,767,781 2,329,844 437,937 2,767,781	School	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
	2022 £ 1,261,022 110,384 400,793 37,000 46,304 1,946 70,210 1,927,659 - 174,628 21,864 2,124,151 1,759,118 365,033 2,124,151			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
						2,304,930 1,065 310,205 14,885
						2,631,085
						1,698,865 932,220
						2,631,085

• 15 -

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Grants payable

Grants to institutions: Other	2022 £ -	2021 £ 1,065
Details of the grants to institutions made during the year in accordance with the charity's objectives.

-

8 Support costs Utility and water Repairs Architect fees Insurance Travel expenses Telephone Cleaning Sundry Security Bank charges and interest Audit fees Accountancy Legal & professional fees Analysed between Charitable activities	Support costs Governance costs £ £ 15,489 - 81,125 - 11,639 - 16,264 - 26,236 - 8,560 - 43,394 - 45 - 68,629 - 22,109 - - 9,008 - 2,252 - 17,892 293,488 29,152 293,488 29,152	2022Support costs Governance costs £ £ £ 15,489 23,905 - 81,125 114,670 - 11,639 - - 16,264 12,728 - 26,236 15,893 - 8,560 7,034 - 43,394 57,333 - 45 878 - 68,629 58,461 - 22,109 19,303 - 9,008 - 6,550 2,252 - 1,570 17,892 - 6,765 322,640 310,205 14,885 322,640 310,205 14,885	2021 £ 23,905 114,670 - 12,728 15,893 7,034 57,333 878 58,461 19,303 6,550 1,570 6,765
			325,090
			325,090

9 Trustees

During the year a trustee was paid £7,414 (2021: £7,256) as an employee of the charity (not for trustee services).

• 16 -

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10 Employees

The average monthly number of employees during the year was:

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	2022 Number 289 2022 £ 1,637,076 9,888 553 1,647,517	2021 Number 264
		2021 £ 1,593,617 13,697 652
		1,607,966

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

11 Other

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
Net loss on disposal of tangible fixed assets	1,414	1,551
	1,414	1,551

• 17 -

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12 Tangible fixed assets Freehold land and buildings Fixtures and fittings Motor vehicles £ £ £ Cost At 1 April 2021 413,275 860,834 33,840 Additions 50,516 33,082 44,580 Disposals - (5,203) (4,650) At 31 March 2022 463,791 888,713 73,770 Depreciation and impairment At 1 April 2021 - 344,950 12,869 Depreciation charged in the year - 95,158 15,225 Eliminated in respect of disposals - (911) (2,325) At 31 March 2022 - 439,197 25,769 Carrying amount At 31 March 2022 463,791 449,516 48,001 At 31 March 2021 413,275 515,882 20,972 13 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 14 Finance lease commitments Future minimum lease payments due under finance leases: Within one year Within two and five years	Playground equipment £ 50,545 8,281 - 58,826 34,400 4,275 - 38,675 20,151 16,144 2022 £ 23,140 1,505 - 24,645 2022 £ 7,363 26,849 34,212	Total £ 1,358,494 136,459 (9,853) 1,485,100 392,219 114,658 (3,236) 503,641 981,459 966,273 2021 £ 124,802 4,650 2,517 131,969 2021 £ - - -

Two vans were purchased by hire purchase and they will be paid back over a 60 month period. The interest rate was fixed at 3.9%. All leases are on a fixed repayment basis.

• 18 -

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Bank loans Obligations under finance leases 14 Trade creditors Other creditors Accruals and deferred income	2022 £ 43,741 7,363 101,793 - 18,617 171,514	2021 £ 30,646 - 76,467 243 26,512
		133,868

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

16 Creditors: amounts falling due after more than one year

Creditors: amounts falling due after more than one year
Bank loans Obligations under finance leases 14 Other creditors	2022 £ 351,321 26,849 382,122 760,292	2021 £ 396,196 - 297,052
		693,248

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

• 19 -

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:	Movement in funds Movement in funds	Balance at Income Expenditure Transfers Balance at Income Expenditure Transfers Balance at	1 April 2020 1 April 2021 31 March 2022	£ £ £ £ £ £ £ £ £	Playground equipment 19,568 - (3,425) - 16,143 - (4,274) - 11,869	Nursery 86,016 506,251 (499,896) (92,371) - - - - -	Security - 58,251 (58,461) 210 - 70,919 (68,629) (2,290) -	SEND department - 190,699 (370,438) 179,739 - 279,647 (365,034) 85,387 -	105,584 755,201 (932,220) 87,578 16,143 350,566 (437,937) 83,097 11,869
17

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

18	Analysis of net assets between funds	Analysis of net assets between funds
		Unrestricted	Restricted	Total		Unrestricted		Restricted		Total
		funds	funds			funds		funds
		2022	2022	2022		2021		2021		2021
		£	£	£		£		£		£
	Fund balances at 31
	March 2022 are
	represented by:
	Tangible assets	969,590	11,869	981,459		950,130		16,143		966,273
	Current assets/(liabilities)	(95,141)	-	(95,141)		73,586		-		73,586
	Long term liabilities	(760,292)	-	(760,292)		(693,248)		-		(693,248)
		114,157	11,869	126,026		330,468		16,143		346,611

19 Related party transactions

Key Management Personnel

The Key management personnel of the Charity comprise the Trustees and the Senior Leadership Team. The total employee benefits of the key management personnel of the charity were £98,792 (2021: £109,709).

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 (2021: £83,200) to BM Asset Management Limited.

At the year end, £382,122 (2021: £297,052) was owed to BM Asset Management Limited.

At the year end, the charity owed £10,000 (2021: £18,000) to Jewish Training Academy For Girls (JTAG) Limited, a charitable company with a common trustee.

During the year, the charity received £79,936 (2021: £66,066) from Happy Kids, a registered charity, in respect of recharged salaries and resources. Mr J Bleichfeld’s wife is a trustee of Happy Kids.

• 21 -

THE BEIS MALKA TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

20	Cash generated from operations		2022	2021
			£	£
	(Deficit)/surpus for the year		(220,585)	108,077
	Adjustments for:
	Loss on disposal of tangible fixed assets		1,414	1,551
	Depreciation and impairment of tangible fixed assets		114,659	118,811
	Movements in working capital:
	Decrease in debtors		107,322	12,176
	Increase/(decrease) in creditors		102,257	(77,724)
	Cash generated from operations		105,067	162,891
21	Analysis of changes in net (debt)/funds
		At 1 April 2021	Cash flowsAt 31 March 2022
		£	£	£
	Cash at bank and in hand	75,485	(23,757)	51,728
	Loans falling due within one year	(30,646)	(13,095)	(43,741)
	Loans falling due after more than one year	(396,196)	44,875	(351,321)
	Obligations under finance leases	-	(34,212)	(34,212)
		(351,357)	(26,189)	(377,546)

• 22 -