**Charity registration number 284447**
## **THE BEIS MALKA TRUST**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024**
## **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 - 5|
|Independent auditor's report|6 - 8|
|Statement of financial activities|9|
|Balance sheet|10|
|Statement of cash flows|11|
|Notes to the financial statements|12 - 22|
## **THE BEIS MALKA TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 30 JUNE 2024**_
The trustees are pleased to present their annual report for the year ending 30 June 2024, which has been a very meaningful year of positive growth, learning and development for the school.
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**
Excellent results were achieved on all forms of assessment including SATS, GCSE and unit assessments across all departments. This reflects positive strides in learning and achievement in all subjects.
Our youngest students, aged 2-3 years benefitted from moving into a new purpose-built setting that offers much space to explore, learn and develop indoors and outdoors and allows for a wider range of activities and resources that promote learning and development. A local nursery matron commented on the school-readiness of children arriving from our setting above those from other settings.
With tooth decay very prevalent in the community, we invited the Oral Health Foundation, who used large puppets to demonstrate, model and practice the importance of brushing teeth daily. The programme now incorporates a daily tooth brushing routine and takes actions to promote a healthy eating lifestyle.
Our Early Years Department, based in Timberwharf Road, continues to offer a wide range of experiential activities, so that our children aged 3-5 can understand the many facets of the exciting world we live in and experience it with all of their senses. This included excursions such as a bus ride, autumn walks, listening walks, number walks and nature excursions and a trip to the postbox to send warm New Year wishes to grandparents. The ‘All About Ourselves project’ further empowers them to discover and express themselves and share about their families, hobbies, interests and aspirations.
With reading being the key for success we continued our school-wide reading initiatives where we track reading progress and development of students using standardised assessment methods throughout the key stages. This empowered staff to efficiently identify strengths and weaknesses in children’s learning and as well as to notice any worrying trends in their development. In Early Years we continued using The Power of Reading program and the pupils are thoroughly enjoying the diverse subjects incorporated within each book, enabling them to acquire so many language, scientific, artistic and geographical skills.
- 1 -
## **THE BEIS MALKA TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
We have continued the White Rose Maths program, a pioneering educational initiative that emphasises a comprehensive understanding of maths and incorporates the Shanghai-Bar model including number sentences to support this. Initially beginning in Year One, this scheme has been rolled out across the whole KS1 and KS2. We also repeated The Algebra Award initiative in Secondary School, increasing pupils' drive and ambition to further achieve. This additional assessment helps students develop a thorough knowledge and understanding of concepts in algebra or statistics, and a strong foundation in mathematical techniques or statistical methods.
In our constant quest to underpin learning, many classes benefitted from enjoyable Educational trips. Year Six went to the citizenship museum, Year Eight went to Buckingham Palace, Year Seven to the Ragged School Museum amd Year Eleven went to the Wonderland Exhibit at the Science Museum. Feedback and monitoring from these evidence that a great time was had by all, relationships were strengthened and their studies were reinforced.
Personal safety sessions were delivered to students in the Secondary School. More students presenting with academic and mental health challenges have been identified for early intervention and plans have been customized to support them. External agencies including WHAMS and Relief have provided us with guidance.
‘Educating the mind without educating the heart is no education at all’ (Aristotle). To further promote Healthy Mental Health, each class benefitted from a mental health session delivered by Noa Girls. Topics included coping with exam stress, creating healthy boundaries in friendships, and identifying worrying behaviours in friends. These were a resounding success, opening the doors for much positive discussion, self-help tools and implementation of better living habits.
Students were invited to participate in an English writing competition. This has been tailored to increase love of words and love of writing. The competition is called ‘Stand-Up’ encouraging them to explore topics such as bravery and making good choices. Winning entries will be compiled for all to enjoy.
In a similar vein, the primary school introduced an anti-bullying programme entitled ‘I Choose Respect’ instilling that every human-being is worthy of respect, regardless of circumstances. Students were vibrantly engaged in activities marking anti-bullying week, creating an atmosphere of unity and high expectations.
- 2 -
## **THE BEIS MALKA TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
Every wall in the Secondary School building is testimony to the focused investment of the recently employed wall-display coordinator who works with groups of pupils to create interactive, learning-based, appealing walls to decorate the school, display pupils work and empower students with powerful messages.
The Primary School staff members continue to invest extra time to prepares a beautiful, informative and educational weekly newsletter on current events. This expands our pupils' knowledge and broadens their PSHE and understanding of current events. Moreover, it has a special focus on celebrating worldwide achievement, particularly of children, inspiring our pupils with a can-do attitude and a drive to succeed.
The enhanced P.E. lessons that incorporate much more aerobics equipment like hoops, cones and skittles in addition to the regular sports games to improve pupils gross motor skills, agility and cardiovascular endurance, continue to revolutionise the sedentary lifestyle of beneficiaries and stem the rising tide of obesity.
We also delivered 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 general well-being.
Towards the end of the financial year, secondary school students produced a dazzling performance showcasing their singing, dancing and acting talent to 550 strong audiences each night. 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, problemsolving and budgeting. The narrative depicted the lost children of Yemen who were kidnapped and their eventual, remarkable return to their families. This carried a strong message of hope for our teenage participants, of never giving up, that salvation is always possible, however dark the night does seem.
As planned, in addition to the regular Music lessons we offer, working towards an ABRSM certification, expanded the music provision to accommodate pupils to work at their own speed, employing more staff to instruct smaller groups making it simpler for pupils to progress at an advanced pace, not having to wait for the whole group to achieve. This incurs additional costs for the school but is instrumental to help each pupil achieve their maximum potential.
In our constant mission to improve provision, Rabbi Yodaiken has delivered additional training to leaders on curriculum development and staff compliance. Mrs Schneebalg, an educational consultant has been providing training on developing the leadership and management at the school.
New students were elected to the student forum. The process saw a number of students nominated in each class each of whom presented their manifesto to their classmates which was then followed by a vote.
The safety of our pupils is at the heart of everything we do. Policies and procedures were reviewed so that they remained responsive to the times and in line with statutory requirements. DSLs from all departments met regularly to create a cohesive forum to share updates, anonymous case studies, training measures and ways to ensure their staff are committed to compliance.
## **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. This was a difficult decision, impacting our commitment to supporting the physical wellbeing of our students amidst rising operational costs and the cost-of-living crisis affecting our families.
- 3 -
## **THE BEIS MALKA TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
A new indicative budget for 2024 - 2025 for under 5's is under way and we hope that it will be a significant increase. 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 £180,000. 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.
## **Future developments**
The schools will introduce additional career guidance sessions and vocational training courses including Business Enterprise, Emergency First Aid, additional Computer Graphics, Financial Capabilities.
The primary school will implement ‘A mile a day’ program, where students will be encouraged to come to school early to run a mile around the school yard.
A new program will be introduced in KS1 called Heads Up. This was selected to address the overall rise in mental health concerns in students and is designed to give these young children the emotional vocabulary and early tools to express themselves when they are experiencing hardship and to help themselves cope with fears and stress.
The delivery of the Art curriculum will be expanded to include quality teaching of this subject in years 4 and 5. This will be designed to increase the skills of the students whilst broadening their horizons and encouraging personal development.
- 4 -
## **THE BEIS MALKA TRUST**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **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: 6 April 2025
- 5 -
## **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 30 June 2024 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 30 June 2024 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.
- 6 -
## **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).
- 7 -
## **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** 7 April 2025 **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.
- 8 -
## **THE BEIS MALKA TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 JUNE 2024**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
1,021,283
529,430
Other income
**4**
1,747,632
-
**Total income**
2,768,915
529,430
**Expenditure on:**
Raising funds
**5**
7,059
-
Charitable activities
**6**
2,619,395
632,802
**Total expenditure**
2,626,454
632,802
**Net income/(expenditure)**
142,461
(103,372)
Transfers between
funds
(100,393)
100,393
**Net movement in**
**funds**
42,068
(2,979)
**Reconciliation of funds:**
Fund balances at 1 July 2023
235,818
7,685
**Fund balances at 30 June**
**2024**
277,886
4,706|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
1,550,713
1,361,956
587,311
1,747,632
2,014,355
-
3,298,345
3,376,311
587,311
7,059
29,222
-
3,252,197
3,182,300
634,623
3,259,256
3,211,522
634,623
39,089
164,789
(47,312)
-
(43,128)
43,128
39,089
121,661
(4,184)
243,503
114,157
11,869
282,592
235,818
7,685|**Total**
**2023**
**£**
1,949,267
2,014,355|
|---|---|---|
|||3,963,622|
|||29,222
3,816,923|
|||3,846,145|
|||117,477
-|
|||117,477
126,026|
|||243,503|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 9 -
## **THE BEIS MALKA TRUST**
## **BALANCE SHEET**
## _**AS AT 30 JUNE 2024**_
||||**2024**||**2023**||
|---|---|---|---|---|---|---|
||**Notes**|**£**||**£**|**£**|**£**|
|**Fixed assets**|||||||
|Tangible assets|**11**|||843,838||908,184|
|**Current assets**|||||||
|Debtors|**12**|126,643|||31,921||
|Cash at bank and in hand||56,104|||18,172||
|||182,747|||50,093||
|**Creditors: amounts falling due within**|**13**||||||
|**one year**||(380,224)|||(355,801)||
|**Net current liabilities**||||(197,477)||(305,708)|
|**Total assets less current liabilities**||||646,361||602,476|
|**Creditors: amounts falling due after**|||||||
|**more than one year**|**14**|||(363,769)||(358,973)|
|**Net assets excluding pension liability**||||282,592||243,503|
|**Net assets**||||282,592||243,503|
|**The funds of the charity**|||||||
|Restricted income funds|**17**|||4,706||7,685|
|Unrestricted funds||||277,886||235,818|
|||||282,592||243,503|
The financial statements were approved by the trustees on 6 April 2025
Mr. B Hofstatter **Trustee**
- 10 -
## **THE BEIS MALKA TRUST**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 30 JUNE 2024**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**21**
**Investing activities**
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
**Net cash used in investing activities**
**Financing activities**
Repayment of bank loans
Payment of obligations under finance leases
**Net cash used in financing activities**
**Net increase/(decrease) in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
(21,973)
-
(44,282)
(11,622)|**£**
115,807
(21,973)
(55,902)
37,932
18,172
56,104|**2023**
**£**
(64,520)
14,009
(53,758)
18,757|**£**
51,956
(50,511)
(35,001)
(33,556)
51,728
18,172|
|---|---|---|---|---|
- 11 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **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 or grantors 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.
- 12 -
## **THE BEIS MALKA TRUST**
## **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.
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.
- 13 -
## **THE BEIS MALKA TRUST**
## **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 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.
## **1.13 Comparatives**
The comparatives in these financial statements are for the 15-month period from 1 April 2022 to 30 June 2023.
- 14 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **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.
## **3 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
113,341
-
Grants
907,942
529,430
1,021,283
529,430
**Donations and gifts**
Other
113,341
-
113,341
-
**Grants receivable for core activities**
Government grants
907,942
469,801
Other grants
-
59,629
907,942
529,430|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
113,341
504,922
-
1,437,372
857,034
587,311
1,550,713
1,361,956
587,311
113,341
504,922
-
113,341
504,922
-
1,377,743
857,034
503,990
59,629
-
83,321
1,437,372
857,034
587,311|**Total**
**2023**
**£**
504,922
1,444,345|
|---|---|---|
|||1,949,267|
|||504,922|
|||504,922|
|||1,361,024
83,321|
|||1,444,345|
## **4 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Other income|150|4,942|
|Rent receivable|43,644|38,983|
|Parental contributions|1,703,838|1,970,430|
||1,747,632|2,014,355|
- 15 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **5 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2024**|2023|
||**£**|£|
|Fundraising and publicity|||
|Other fundraising costs|7,059|29,222|
||7,059|29,222|
## **6 Charitable activities**
|Staff costs
Depreciation and
impairment
Educational supplies
Rent
Training
Exam fees
Support lesson costs
Share of support costs (see
note 7)
Share of governance costs
(see note 7)
**Analysis by fund**
Unrestricted funds
Restricted funds|**School**
**2024**
**£**
1,700,591
83,563
210,275
1,900
32,692
27,486
137,936
2,194,443
242,077
53,423
2,489,943
1,924,765
565,178
2,489,943|**Nursery**
**2024**
**£**
494,934
2,755
13,265
83,200
14,011
-
-
608,165
140,148
13,941
762,254
694,630
67,624
762,254|**Total**
**2024**
**£**
2,195,525
86,318
223,540
85,100
46,703
27,486
137,936
2,802,608
382,225
67,364
3,252,197
2,619,395
632,802
3,252,197|**School**
**2023**
**£**
1,899,765
124,320
447,999
23,000
32,675
23,125
150,005
2,700,889
260,797
32,311
2,993,997
2,446,879
547,118
2,993,997|**Nursery**
**2023**
**£**
509,412
4,408
23,950
104,000
14,004
-
-
655,774
154,482
12,670
822,926
735,421
87,505
822,926|**Total**
**2023**
**£**
2,409,177
128,728
471,949
127,000
46,679
23,125
150,005|
|---|---|---|---|---|---|---|
|||||||3,356,663
415,279
44,981|
|||||||3,816,923|
|||||||3,182,300
634,623|
|||||||3,816,923|
- 16 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **7 Support costs**
|Utility and water
Repairs
Insurance
Travel expenses
Telephone
Cleaning
Security
Bank charges and
interest
Audit fees
Legal & professional fees
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
62,472
-
116,430
-
26,217
-
23,794
-
11,605
-
54,000
-
64,870
-
22,839
-
-
11,600
-
55,764
382,225
67,364
382,225
67,364|**2024**Support costs Governance
costs
**£**
£
£
62,472
41,649
-
116,430
115,643
-
26,217
28,208
-
23,794
45,962
-
11,605
10,988
-
54,000
60,234
-
64,870
83,097
-
22,839
29,497
-
11,600
-
11,500
55,764
-
33,482
449,589
415,278
44,982
449,589
415,279
44,981|2023
£
41,649
115,643
28,208
45,962
10,988
60,234
83,097
29,497
11,500
33,482|
|---|---|---|---|
||||460,260|
||||460,260|
## **8 Trustees**
During the year a trustee was paid £8,882 (for the period of 2023: £10,072) as an employee of the charity (not for trustee services).
## **9 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|**2024**
**Number**
316
**2024**
**£**
2,182,620
12,416
489
2,195,525|**2023**
**Number**
295|
|---|---|---|
|||**2023**
**£**
2,397,648
11,109
420|
|||2,409,177|
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
- 17 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **9 Employees**
**(Continued)**
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 £104,347 (2023: £118,566).
## **10 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **11 Tangible fixed assets**
|**Freehold land**
**and buildings**
**Fixtures and**
**fittings**
**£**
**£**
**Cost**
At 1 July 2023
463,791
907,592
Additions
-
21,973
At 30 June 2024
463,791
929,565
**Depreciation and impairment**
At 1 July 2023
-
541,659
Depreciation charged in the year
-
67,884
At 30 June 2024
-
609,543
**Carrying amount**
At 30 June 2024
463,791
320,022
At 30 June 2023
463,791
365,934|**Motor**
**vehicles**
**£**
103,570
-
103,570
40,854
15,679
56,533
47,037
62,716|**Playground**
**equipment**
**£**
58,826
-
58,826
43,083
2,755
45,838
12,988
15,743|**Total**
**£**
1,533,779
21,973|
|---|---|---|---|
||||1,555,752|
||||625,596
86,318|
||||711,914|
||||843,838|
||||908,184|
## **12 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income|**2024**
**£**
122,177
45
4,421
126,643|**2023**
**£**
30,763
1,158
-|
|---|---|---|
|||31,921|
- 18 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **13 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Bank loans
Obligations under finance leases
**15**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
44,479
11,622
99,061
146,280
64,797
13,985
380,224|**2023**
**£**
44,479
11,621
86,425
158,612
40,000
14,664|
|||355,801|
The bank loan has been secured against the freehold land and buildings held by the charity.
## **14 Creditors: amounts falling due after more than one year**
|Bank loans
Obligations under finance leases
**15**
Other creditors|**2024**
**£**
252,543
29,726
81,500
363,769|**2023**
**£**
296,825
41,348
20,800|
|---|---|---|
|||358,973|
The bank loan has been secured against the freehold land and buildings held by the charity.
## **15 Finance lease obligations**
Future minimum lease payments due under finance leases:
|Future minimum lease payments due under finance leases:|||
|---|---|---|
|Within one year
Within two and five years|**2024**
**£**
11,622
29,726
41,348|**2023**
**£**
11,621
41,348|
|||52,969|
Two vans were purchased by hire purchase in 2022 and they will be paid back over a 60 month period. The interest rate was fixed at 3.9%.
A third van was purchased in 2023 and it will be paid back over a 60 month period. The interest rate was fixed at 5.2%.
- 19 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 JUNE 2024**_
|**16**|**Retirement benefit schemes**|||
|---|---|---|---|
|||**2024**|**2023**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|489|420|
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.
## **17 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
||**At 1 July 2023**|**At 1 July 2023**|**Incoming**|**Resources**|**Transfers**|**At 30 June**|
|---|---|---|---|---|---|---|
||||**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|Playground equipment||7,461|-|(2,755)|-|4,706|
|Security||224|59,630|(64,870)|5,016|-|
|SEND department||-|469,800|(565,177)|95,377|-|
|||7,685|529,430|(632,802)|100,393|4,706|
|**Previous period:**|**At 1 July 2022**||**Incoming**|**Resources**|**Transfers**|**At 30 June**|
||||**resources**|**expended**||**2023**|
|||**£**|**£**|**£**|**£**|**£**|
|Playground equipment||11,869|-|(4,408)|-|7,461|
|Security||-|83,321|(83,097)|-|224|
|SEND department||-|503,990|(547,118)|43,128|-|
|||11,869|587,311|(634,623)|43,128|7,685|
|**Analysis of net assets between funds**|||||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
|**At 30 June 2024:**|||||||
|Tangible assets||||839,132|4,706|843,838|
|Current assets/(liabilities)||||(197,477)|-|(197,477)|
|Long term liabilities||||(363,769)|-|(363,769)|
|||||277,886|4,706|282,592|
## **18 Analysis of net assets between funds**
- 20 -
## **THE BEIS MALKA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 30 JUNE 2024**_
## **18 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||**(Continued)**|
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**||
||**2023**|**2023**|**2023**|
||**£**|**£**|**£**|
|**At 30 June 2023:**||||
|Tangible assets|900,499|7,685|908,184|
|Current assets/(liabilities)|(305,708)|-|(305,708)|
|Long term liabilities|(358,973)|-|(358,973)|
||235,818|7,685|243,503|
## **19 Related party transactions**
## **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 a common trustee.
During the year, the Charity paid rent totaling £83,200 (period ended 30 June 2023: £104,000) to BM Asset Management Limited.
At the yearend, £81,500 (period ended 30 June 2023: £20,800) was due to BM Asset Management Limited.
During the year, a donation of £Nil (period ended 30 June 2023 £397,595) was received from BM Asset Management Limited.
At the yearend, the charity owed £Nil (period ended 30 June 2023: £40,000) to Jewish Training Academy For Girls (JTAG) Limited, a charitable company with a common trustee.
During the year, the charity received £113,847 (period ended 30 June 2023: £113,121) 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 30 JUNE 2024**_
|**20**
**Analysis of changes in net (debt)/funds**
**At 1 July 2023**
**Cash flows Other**
**£**
**£**
Cash at bank and in hand
18,172
37,932
Loans falling due within one year
(44,479)
-
Loans falling due after more than one year
(296,825)
44,282
Obligations under finance leases
(52,969)
11,622
(376,101)
93,836
**21**
**Cash generated from operations**
Surplus for the year
Adjustments for:
Gain on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase/(decrease) in creditors
**Cash generated from operations**|**non-cash**
**changes**
**At 30 June 2024**
**£**
**£**
-
56,104
-
(44,479)
-
(252,543)
(1)
(41,348)
(1)
(282,266)
**2024**
**2023**
**£**
**£**
39,089
117,477
-
(4,942)
86,318
128,728
(94,722)
(7,276)
85,122
(182,031)
115,807
51,956|
|---|---|
- 22 -