**Registered number: 01796116 Charity number: 289066**
## **NAIMA JPS**
**COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 8|
|**Independent Auditors' Report on the Financial Statements**|9 - 12|
|**Statement of Financial Activities**|13|
|**Statement of Financial Position**|14 - 15|
|**Statement of Cash Flows**|16|
|**Notes to the Financial Statements**|17 - 35|
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Trustees**|R Yentob|
|---|---|
||J Levy|
||J S Shamoon Arazi|
||I Levy|
||V Shamoon|
||I Corre|
||I Levy|
|**Company registered**
**number**
01796116
**Charity registered**
**number**
289066
**Registered office**
21 Andover Place
London
NW6 5ED
**Company secretary**
A Cohen
**Independent auditors**
Sopher + Co LLP
Chartered Accountants
Statutory Auditors
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD||
Page 1
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025**
The Trustees present their annual report together with the audited financial statements of the Charity for the year ended 31 August 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
## **Objectives and activities**
The Charity's objectives are the advancement of secular and religious education including the provision of day schooling for children of both sexes, together with the provision of a Synagogue and other related religious amenities.
Within these objects the charity has maintained a restricted fund for the purposes of granting scholarships to certain pupils who fit the school’S scholarship criteria.
The policies adopted in furtherance of these objects are stated in this report and there has been no change in these during the year.
The Charity provides education to boys and girls from ages 3 to 11 years satisfying the requirements of UK primary education and provides a Pre-Nursery for children aged 2. It also makes its facilities available to the local community.
The school’s ethos is centred on the belief that an excellent education with a strong religious grounding is mutually attainable and beneficial. It is this ethos that we adhere to as we aspire to prepare the school’s pupils for adulthood.
It is the Charity’s policy not only to educate infants and juniors to a high level of academic achievement but also to provide the religious community with suitable facilities and an establishment for prayer.
The school continues to promote and engender core British values amongst our pupils.
The Charity has kept in mind the Charity Commission’s guidance on public benefit. We believe that the main aim of the charity is the advancement of secular and religious education including the provision of day schooling for children of both sexes, together with the provision of a Synagogue and other related religious amenities. We also believe that the public benefit is further illustrated in this report through the Objectives and Activities and Achievements and Performance sections.
## **Strategic report**
The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Charity Trustees to present a strategic report.
Page 2
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Achievements and performance**
## **a. Review of activities**
The school has had a good year, and we continue to be proud of all our children’s achievements. Our Secondary transfer results for the year under review were excellent with places offered at top London, independent Secondary schools. Our children were awarded a creative writing and several academic scholarships. Methods of testing continue to change annually, and our teachers worked hard to ensure that the children were fully prepared for the variety of tests being used. This includes pupils taking regular, practice tests and undergoing several mock interviews by external consultants. In November, the school was inspected by ISI as part of the regular, routine inspection process. The school passed the inspection and received a very positive report.
Naima remains committed to offering the local Jewish community various religious facilities such as a Synagogue and Mikveh (ritual bath). Naima also continues to contribute to events for the wider local community. These include regularly sending sports teams to inter – school tournaments, the choir to an annual, children’s choral festival as well as other choral events, collaborating in joint P.E. lessons with a local school and attending an annual dance festival. Our security staff also play an important role in maintaining a positive community including engaging with police to reduce crime directed to local residents and working with traffic wardens in order to ensure safe parking.
As in the previous year, the children met with a wide spectrum of visitors throughout the year such as a weekly yoga teacher, authors, illustrators and other professionals and the children went on several outings to museums, art galleries and theatres, for example. Additionally, the annual visits of the farm and the toy museum are eagerly anticipated by the pupils and help bring learning to life. The weekly early morning running club for the children still attracts many children. The house points system continues to be popular with the children, and they remain encouraged to be awarded house point tokens. The ongoing success of our holiday camps for our pupils has ensured that this provision is now automatically offered for several days during each holiday period. Mental health and wellbeing of both pupils and staff is important to the school. A counsellor and wellbeing coach visit the school weekly to meet with pupils and the school subscribes to an employee assistance program for the staff, which offers them access to mental health and wellbeing support.
The school and parent body have kept in regular contact with Westminster Council about their social housing building project next door to the school. The works have recently been completed, and tenants will be moving in shortly.
Our ethos remains to maintain both secular and religious academic standards to the high level, to which the school has become known and to strive to provide the children with a stimulating, spiritual and excellent all round, education. The school continues to promote and engender core British values amongst our pupils. We expect the school to thrive for the foreseeable future.
Page 3
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Achievements and performance (continued)**
## **b. Review of performance**
The school's operating surplus before the net losses on the investments in the year was £325,360 (2024 - £94,854).
School fees increased by 16% to £2,870,897 due to fee increase and increase in number of pupils attended in the year.
School wages and salaries increased by 13% to £2,622,593 due to wages and employer's NI increase in the year.
The net funds as at 31 August 2025 were £9,027,129 (2024 - £8,726,839) and are considered satisfactory having regard to the Charity's objectives.
## **c. Investment policy and performance**
The Charity's governing document permits the trustees to invest funds that are not immediately required for charitable purposes. The trustees seek to balance the need to preserve capital with the objective of generating an appropriate return on surplus funds to support the Charity's charitable activities.
During the year, surplus funds were invested in a portfolio comprising Treasury Bills and interest-bearing loans. Prior to making these investments, the trustees obtained and considered appropriate advice regarding the suitability of the investments, the associated risks and expected returns. Having reviewed this advice, the trustees were satisfied that the investments were appropriate for the Charity's circumstances and consistent with its investment objectives.
A substantial proportion of the Charity's investment portfolio is held in Treasury Bills, which the trustees consider to be a secure and low-risk investment due to the creditworthiness of Treasury bill and the short-term to mediumterm nature of the instruments. These investments provide capital preservation, liquidity and a stable return on funds that are not immediately required for charitable activities.
The Charity also holds interest-bearing loan investments which generate enhanced income returns. The trustees have assessed the risks associated with these investments and are satisfied that they remain appropriate having regard to the Charity's financial position, liquidity requirements and investment objectives.
The trustees consider the overall investment portfolio to represent an appropriate balance between security, liquidity and return. Income generated from the investments contributes towards the funding of the Charity's charitable activities and enables surplus working capital to be utilised effectively in furtherance of the Charity's objectives.
The trustees review the performance and risk profile of the investment portfolio on a regular basis and remain satisfied that the investment strategy is appropriate for the Charity's needs and consistent with its charitable objectives.
Page 4
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Financial review**
## **a. Reserves policy**
The Trustees have determined that the minimum level of liquid reserves which have not been invested in tangible fixed assets should be equivalent to approximately 13 weeks’ expenditure.
The Trustees’ policy is to build sufficient free reserves for future investment in the school as a whole, not only enhancements to the fabric of the school buildings, but also to keep pace with technological change and innovation. This policy applies to Information Technology and school facilities in general.
Tangible fixed assets include school buildings, the Synagogue and the Mikveh. These buildings are used for non-commercial purposes and for this reason the Trustees do not consider it appropriate to recognise its market value in these financial statements.
The Trustees are empowered to place funds, administered by the Charity, into investments which are likely to generate income without a material risk to the underlying capital. All funds were invested with the charity’s bankers in prior year and this year in addition to bank investments Charity, also, invested in Israeli bonds, treasury bills and lending through CSBF as in prior year. The Trustees’ financial policy is to generate an income stream with minimal risk to capital. As part of the charity’s restricted funds, the school scholarship fund of £231,648 was earmarked to provide scholarships to qualifying students. There were no qualifying applications received during the year.
## **Structure, governance and management**
## **a. Constitution**
The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.
Page 5
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Structure, governance and management (continued)**
## **c. Financial risk management**
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 exposure to the major risks.
The Trustees examine, on a regular basis, any risks that they feel the school may face in each financial year.The Trustees have developed systems to monitor and control those risks to ensure that any impact or financial loss which may results from them may be kept to a minimum.
The key controls used by the Charity include:
- Comprehensive strategic planning and budgeting;
- Established organisational structure with formal written policies;
- Formal policies with clear authorisation and approval levels; and
- Strict vetting procedures as required by law for those requiring protection.
The trustees are satisfied that most risks identified have been completely mitigated and also recognise that the system can only provide reasonable but not absolute assurance that most risks have been adequately managed.
## **d. Organisational structure and decision-making policies**
The full name of the charity is Naima JPS and its Registered Charity Number is 289066.
The Trustees, who are also the directors for the purpose of company law, who served during the year were:
R Yentob J Levy J S Shamoon Arazi I Levy V Shamoon I Corre I Levy
New trustees are identified and invited to join the board of trustees by the existing trustees. They are selected on the basis of their sympathy with the charitable objectives and their ability to pursue those objectives as a trustee. New trustees are elected by resolution and approved by a majority of trustees.
Under the company's Articles of Association any person who is willing to act as a trustee, and who would not be disqualified from acting for any reason, may be appointed to be a trustee by a decision of the trustees. None of the Charity Trustees has any beneficial interest in the company. All of the Charity Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The school also appoints governors to act in an advisory basis to the trustees, to serve on a two to three year basis. The governors are selected from past or present parents and other parties with a connection to the school. The governors are not involved in final decision making.
The governors who served during the year were:
Page 6
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Structure, governance and management (continued)**
## **Governors**
Mrs Alexandra Maurice Mr Adam Keats Mr Jonathan Marks Ms Clare Ettinghausen (resigned 31.08.25) Mr David Djanogly Mr Emil Fattal Mrs Sian Levy Dr Naomi Katz Mr Edward Misrahi Mrs Meira Drazin Mr Joshua Ereira Dr Efrat Sopher Mr Aron Azouz (appointed 12.11.25) Mr James Esterkin ( appointed 12.11.25)
## **Head teacher**
Mr Bill Pratt
Remuneration for Key Management Personnel is based on IAPS pay scales as a benchmark. The final decision on remuneration packages and bonuses are agreed by the trustees.
## **Plans for future periods**
The Charity remains focused on reinforcing and regularly assessing the children’s learning. Their wellbeing and mental health continues to be reviewed by our school staff, counsellor and wellbeing coach on an ongoing basis. The Charity remains subscribed to a health and wellbeing programme for all staff.
During the last summer holiday, there was a complete renovation of the school playground which has been well received by all pupils. The school entrance and security hub was refurbished at the same time. Minor refurbishment works, such as the replacement of some of the flooring and installation of air conditioning units in the IT suite also took place last summer.
We continue to invest in new computers, iPads and interactive, classroom whiteboards on a rolling, replacement basis.
## **Auditors**
Under section 487(2) of the Companies Act 2006, Sopher + Co LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to trustees or 28 days after the date prescribed for filing the accounts with the registrar, whichever is earlier.
Page 7
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Companies Act 2006. 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.
## **Disclosure of information to auditors**
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
- so far as that Trustee is aware, there is no relevant audit information of which the Charity's auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**J Levy** (Trustee)
**J S Shamoon Arazi** (Trustee)
Date: 29 May 2026
Page 8
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF NAIMA JPS**
## **Opinion**
We have audited the financial statements of Naima JPS (the 'Charity') for the year ended 31 August 2025, which comprise the Statement of Financial Activities, the Statement of Cash Flows, Statement of financial position and the related notes, including a summary of 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 Charitable company's affairs as at 31 August 2025 and of its result 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 Companies Act 2006; and
## **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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material
Page 9
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF NAIMA JPS (CONTINUED)**
misstatement in the financial statements or a material misstatement of the other information. 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.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Trustees' Report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Charity Trustees**
As explained more fully in the Trustees' Responsibilities Statement set out on page 8 , 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 liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
## **Auditors' responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' 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
Page 10
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF NAIMA JPS (CONTINUED)**
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the Charity through discussions with directors and other management, and from our commercial knowledge and experience of the charity sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the Charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and
- understanding the design of the company’s remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgments and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
Page 11
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF NAIMA JPS (CONTINUED)**
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
## **Use of our report**
This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Stephen Iseman (Senior Statutory Auditor)
for and on behalf of
## **Sopher + Co LLP**
Chartered Accountants Statutory Auditors
5 Elstree Gate Elstree Way Borehamwood Hertfordshire WD6 1JD 29 May 2026
Page 12
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025**
|**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Charitable activities
7,9
Other expenditure
8
**Total expenditure**
**Net income before net losses on**
**investments**
Net losses on investments
16,19
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**112,274**
**2,963,534**
**233,902**
**152,046**
**3,461,756**
**3,341,035**
**-**
**3,341,035**
**120,721**
**(25,070)**
**95,651**
**7,849,234**
**95,651**
**7,944,885**|**Restricted**
**funds**
**2025**
**£**
**14,871**
**551,037**
**-**
**-**
**565,908**
**361,269**
**-**
**361,269**
**204,639**
**-**
**204,639**
**877,605**
**204,639**
**1,082,244**|**Total**
**funds**
**2025**
**£**
**127,145**
**3,514,571**
**233,902**
**152,046**
**4,027,664**
**3,702,304**
**-**
**3,702,304**
**325,360**
**(25,070)**
**300,290**
**8,726,839**
**300,290**
**9,027,129**|Total
funds
2024
£
112,119
2,737,151
244,012
130,783|
|---|---|---|---|---|
|||||3,224,065|
|||||3,123,586
5,625|
|||||3,129,211|
|||||94,854
-|
|||||94,854|
|||||8,631,985
94,854|
|||||8,726,839|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The Statement of Financial Activities also complies with requirements under the Companies Act 2006.
Page 13
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE REGISTERED NUMBER: 01796116**
## **STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2025**
|**Note**
**Fixed assets**
Tangible assets
15
Investments
16
**Current assets**
Debtors
17
Investments
19
Cash at bank and in hand
18
**Current liabilities**
Creditors: amounts falling due within one
year
20
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
21
Unrestricted funds
Designated funds
21
General funds
21
Total unrestricted funds
21
**Total funds**|**963,419**
**3,004,678**
**840,393**
**4,808,490**
**(1,902,808)**
**1,082,244**
**3,651,428**
**4,293,457**|**2025**
**£**
**4,624,672**
**1,496,775**
**6,121,447**
**2,905,682**
**9,027,129**
**7,944,885**
**9,027,129**|831,277
400,000
4,460,515
5,691,792
(1,586,731)
877,605
3,897,746
3,951,488|2024
£
4,621,778
-|
|---|---|---|---|---|
|||||4,621,778
4,105,061|
||||||
|||||8,726,839|
|||||7,849,234|
||||||
|||||8,726,839|
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**J Levy** (Trustee)
**J S Shamoon Arazi** (Trustee)
Date: 29 May 2026
Page 14
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 AUGUST 2025**
The notes on pages 17 to 35 form part of these financial statements.
Page 15
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025**
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of investments
Investment income received
**Net cash (used in)/provided by investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
The notes on pages 17 to 35 form part of these financial statements|**2025**
**£**
**458,455**
**(205,956)**
**(4,106,523)**
**233,902**
**(4,078,577)**
**(3,620,122)**
**4,460,515**
**840,393**|2024
£
330,691
(104,796)
-
244,012
**139,216**
**469,907**
3,990,608
4,460,515|
|---|---|---|
Page 16
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **1. General information**
Naima JPS is a private company limited by guarantee incorporated in England and Wales. The registered office and principal place of business is 21 Andover Place, London, NW6 5ED.
The principal activity of the Charity is to raise funds for the education of the public (with particular emphasis on students engaged in full time primary education).
The functional and presentational currency of the charity is £ Sterling.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Naima JPS meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
At the time of approving the financial statements, the Charity Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Charity Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **2.3 Charitable funds**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 17
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution,the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Fees receivable are accounted for in the period in which the service is provided. Fees receivable are stated after allowing for bursaries granted.
## **2.5 Expenditure**
Expenditure designated as charitable expenditure represents costs directly attributable to the principal activities of the Charity. These include the costs of teaching salaries and the associated staff and building costs.
## **2.6 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.7 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Land and buildings used for educational purposes are capitalised at cost, including directly attributable costs of acquisition and construction. The carrying value of fixed assets is reviewed annually for indicators of impairment. Where impairment is identified, the asset is written down to its recoverable amount.
The Charity is responsible for keeping the original buildings in fit and useful condition, and these costs are written-off as incurred.
Page 18
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation (continued)**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings - 2% straight line - Improvements to property 2-10% straight line Mikveh - 5% straight line Fixtures and fittings - 20% reducing balance Religious artifacts - 10% reducing balance
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Statement of Financial Position date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
## **2.9 Current assets investments**
Current assets investments comprise investments with a maturity of more than three months but not more than twelve months from the date of acquisition. These investments are initially recognised at transaction cost and subsequently measured at fair value at the Statement of Financial Position date. Gains and losses arising from changes in fair value are recognised in the Statement of Financial Activities in the period in which they arise.
Where the maturity date falls within three months of the date of acquisition or the Statement of Financial Position date, such instruments are reclassified as cash and cash equivalents in accordance with the charity's cash and cash equivalents policy.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.11 Debtors**
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 19
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **2. Accounting policies (continued)**
## **2.12 Liabilities**
Liabilities are recognised when there is an obligation at the Statement of Financial Position date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.13 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **2.14 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2.15 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The Teachers’ Pension Scheme is an unfunded scheme and contributions are calculated so as to spread the cost of pensions over employees’ working lives with the school in such a way that the pension cost is a substantially level percentage of current and future pensionable payroll. The contributions are determined by the Government Actuary on the basis of quinquennial valuations using a prospective benefit method.
## **3. Income from donations and legacies**
||**Unrestricted**|**Restricted**|**Total**|Total|
|---|---|---|---|---|
||**funds**|**funds**|**funds**|funds|
||**2025**|**2025**|**2025**|2024|
||**£**|**£**|**£**|£|
|Donations and gifts|112,274|14,871|**127,145**|112,119|
Page 20
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **4. Income from charitable activities**
|**Unrestricted**
**funds**
**2025**
**£**
Gross fees and related revenue
2,963,534
Security grants and voluntary donations
-
Bursary
-
Playground refurbishment
-
School refurbishment
-
**Total 2025**
2,963,534|**Restricted**
**funds**
**2025**
**£**
-
217,311
211,940
75,000
46,786
551,037|**Total**
**funds**
**2025**
**£**
**2,963,534**
**217,311**
**211,940**
**75,000**
**46,786**
**3,514,571**|Total
funds
2024
£
2,484,552
252,599
-
-
-|
|---|---|---|---|
||||2,737,151|
## **5. Investment income**
|**Unrestricted**
**funds**
**2025**
**£**
Interest receivable
233,902
**6.**
**Other incoming resources**
**Unrestricted**
**funds**
**2025**
**£**
Other income
152,046|**Total**
**funds**
**2025**
**£**
**233,902**
**Total**
**funds**
**2025**
**£**
**152,046**|Total
funds
2024
£
244,012|
|---|---|---|
|||Total
funds
2024
£
130,783|
Page 21
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **7. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|**Unrestricted**
**funds**
**2025**
**£**
School running costs
3,068,905
Security
-
Establishment
272,130
Mikveh
-
Bursary
-
Playground refurbishment
-
School refurbishment
-
3,341,035|**Restricted**
**funds**
**2025**
**£**
12,624
181,982
-
50,848
102,655
8,419
4,741
361,269|**Total**
**2025**
**£**
**3,081,529**
**181,982**
**272,130**
**50,848**
**102,655**
**8,419**
**4,741**
**3,702,304**|Total
2024
£
2,746,767
199,366
126,128
51,325
-
-
-|
|---|---|---|---|
||||3,123,586|
## **8. Other expenditure**
||**Unrestricted**|**Total**|Total|
|---|---|---|---|
||**funds**|**funds**|funds|
||**2025**|**2025**|2024|
||**£**|**£**|£|
|Charitable donations|-|**-**|5,625|
Page 22
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **9. Analysis of expenditure by activities**
|School running costs
Security
Establishment
Mikveh
Bursary for parents
Playground refurbishment
School refurbishment|**Activities**
**undertaken**
**directly**
**2025**
**£**
3,081,529
181,982
272,130
50,848
102,655
8,419
4,741
3,702,304|**Total**
**funds**
**2025**
**£**
**3,081,529**
**181,982**
**272,130**
**50,848**
**102,655**
**8,419**
**4,741**
**3,702,304**|Total
funds
2024
£
2,746,767
199,366
126,128
51,325
-
-
-|
|---|---|---|---|
||||3,123,586|
Page 23
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **9. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Staff costs
Depreciation and impairment
Other costs
Staff costs
Depreciation and impairment
Other costs|**School**
**running**
**costs**
**2025**
**£**
2,456,982
163,460
461,087
3,081,529|**Security**
**2025**
**£**
141,716
6,400
33,866
181,982
**Playground**
**refurbishment**
**2025**
**£**
-
7,798
621
8,419||**Establishment**
**2025**
**£**
-
-
272,130
272,130
**School**
**refurbishment**
**2025**
**£**
-
3,905
836
4,741||**Mikveh**
**2025**
**£**
23,895
21,499
5,454
50,848
**Total**
**funds**
**2025**
**£**
**2,622,593**
**203,062**
**876,649**
**3,702,304**||**Bursary for**
**parents**
**2025**
**£**
-
-
102,655
102,655
Total
funds
2024
£
2,316,581
179,194
627,811
3,123,586|
|---|---|---|---|---|---|---|---|---|
||||||||||
||||||||||
||||||||||
||||||||||
Page 24
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **10. School running costs**
|School wages, salaries and social security
School staff pension costs
Teacher's training and related costs
Books and teaching consumables
School meals and refreshments
School outings and travel
Printing, stationery and communications
Insurance
Sundry expenses
Legal, professional and compliance costs
Computer & equipment maintenance
Bank charges
Marketing
Depreciation
Audit fees
ICT Suite|**2025**
**£**
**2,314,016**
**142,966**
**22,752**
**43,267**
**211,021**
**54,215**
**15,522**
**37,801**
**24,406**
**14,272**
**23,738**
**2,797**
**5,329**
**163,460**
**5,967**
**-**
**3,081,529**|2024
£
2,041,464
107,926
20,782
35,086
199,055
46,048
14,373
32,030
16,523
30,996
18,887
1,752
2,409
157,741
15,220
6,475|
|---|---|---|
|||2,746,767|
## **11. Auditors' remuneration**
||**2025**|2024|
|---|---|---|
||**£**|£|
|Fees payable to the Charity's auditor for the audit of the Charity's annual|||
|accounts|**5,967**|15,220|
## **12. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2025**
**£**
**2,251,179**
**228,448**
**142,966**
**2,622,593**|2024
£
2,033,846
174,809
107,926|
|---|---|---|
||||
|||2,316,581|
Page 25
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **12. Staff costs (continued)**
The average number of persons employed by the Charity during the year was as follows:
|Teachers
Support staff
Headmaster
Security
Mikveh|**2025**
**No.**
**48**
**8**
**1**
**2**
**1**
**60**|2024
No.
45
8
1
2
1|
|---|---|---|
||||
|||57|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|||**2025**|2024|
|---|---|---|---|
|||**No.**|No.|
|In the band £60,001|- £70,000|**1**|1|
|In the band £70,001|- £80,000|**1**|1|
|In the band £80,001|- £90,000|**2**|2|
## **13. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL).
Page 26
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **14. Taxation**
The company is a registered charity and no provision is considered necessary for taxation.
## **15. Tangible fixed assets**
|**Cost**
At 1 September 2024
Additions
At 31 August 2025
**Depreciation**
At 1 September 2024
Charge for the year
At 31 August 2025
**Net book value**
At 31 August 2025
At 31 August 2024|**Land and**
**buildings**
**£**
**516,273**
**-**
**516,273**
**248,507**
**10,325**
**258,832**
**257,441**
267,766|**Improvements**
**to property**
**£**
**4,939,551**
**101,697**
**5,041,248**
**982,931**
**111,673**
**1,094,604**
**3,946,644**
3,956,620|**Mikveh**
**£**
**429,053**
**940**
**429,993**
**226,175**
**21,500**
**247,675**
**182,318**
202,878|**Fixtures**
**and fittings**
**£**
**979,220**
**103,319**
**1,082,539**
**784,739**
**59,560**
**844,299**
**238,240**
194,481|**Religious**
**artefacts**
**£**
**1,800**
**-**
**1,800**
**1,767**
**4**
**1,771**
**29**
33|**Total**
**£**
**6,865,897**
**205,956**|
|---|---|---|---|---|---|---|
|||||||**7,071,853**|
|||||||**2,244,119**
**203,062**|
|||||||**2,447,181**|
|||||||**4,624,672**|
|||||||4,621,778|
Page 27
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **16. Fixed asset investments**
|**Valuation**
Additions
At 31 August 2025
**Impairment**
Impairment
At 31 August 2025
**Net book value**
At 31 August 2025
**Debtors**
**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income|**2025**
**£**
**706,718**
**92,020**
**164,681**
**963,419**|**Other Fixed**
**Asset**
**investments**
**£**
**1,498,212**|
|---|---|---|
|||**1,498,212**|
|||**1,437**|
|||**1,437**|
|||**1,496,775**|
|||2024
£
599,671
155,306
76,300
831,277|
**17. Debtors**
## **18. Cash at bank**
Included within cash balances are funds held on behalf of the Charitable Fund of Rabbi Abraham and Estelle Levy. The corresponding liability of £125,000 is included in other creditors. Any interest earned on these funds is paid over to the Rabbi Levy Charitable Trust upon receipt.
Page 28
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **19. Current asset investments**
||**2025**|2024|
|---|---|---|
||**£**|£|
|Listed investments|**3,004,678**|400,000|
Included within current asset investments are Treasury Bills of £2,608,311 maturing within 12 months after the balance sheet date. The investment is stated at fair value of £2,584,678, giving rise to an unrealised loss of £23,633 recognised in the year.
Included within current asset investments are loans totalling £420,000 advanced through a commercial investment company. The loans are secured, repayable within 12months after the year end, and bear interest at fixed rates ranging from 9.18% to 10% per annum. The trustees have reviewed the recoverability of the investment balances at the year end and are satisfied that the carrying value stated in the financial statements is recoverable. Accordingly, no impairment provision has been recognised.
Included within the prior year comparative balance of current asset investments is £400,000 previously presented within other debtors. The comparative figures have been reclassified to conform with the presentation adopted in the current year, as the balance represents investment rather than other debtors.
## **20. Creditors: Amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2025**
**£**
**321,153**
**122,783**
**431,045**
**1,027,827**
**1,902,808**|2024
£
114,400
-
460,800
1,011,531|
|---|---|---|
||||
|||1,586,731|
Page 29
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **21. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Teachers of excellence
Building fund
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Sainsbury scholarship
Mikveh
Security
IT Project
Art room
Library
Kitchen
Playground equipment
Sports Equipment
Artefacts
Bursary
School refurbishment
**Total of funds**|**Balance at 1**
**September**
**2024**
**£**
**1,159,834**
**2,737,912**
**3,897,746**
**3,951,488**
**7,849,234**
**231,648**
**216,005**
**237,197**
**11,380**
**14,457**
**79,239**
**78,238**
**2,946**
**1,500**
**4,995**
**-**
**-**
**877,605**
**8,726,839**|**Income**
**£**
**-**
**-**
**-**
**3,461,756**
**3,461,756**
**-**
**14,871**
**217,311**
**-**
**-**
**-**
**-**
**75,000**
**-**
**-**
**211,940**
**46,786**
**565,908**
**4,027,664**|**Expenditure**
**£**
**(143,719)**
**(102,599)**
**(246,318)**
**(3,094,717)**
**(3,341,035)**
**-**
**(50,848)**
**(181,982)**
**(3,783)**
**(494)**
**(1,159)**
**(7,184)**
**(8,419)**
**-**
**(4)**
**(102,655)**
**(4,741)**
**(361,269)**
**(3,702,304)**|**Gains/**
**(Losses)**
**£**
**-**
**-**
**-**
**(25,070)**
**(25,070)**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**(25,070)**|**Balance at**
**31 August**
**2025**
**£**
**1,016,115**
**2,635,313**|
|---|---|---|---|---|---|
||||||**3,651,428**|
||||||**4,293,457**|
||||||**7,944,885**|
||||||**231,648**
**180,028**
**272,526**
**7,597**
**13,963**
**78,080**
**71,054**
**69,527**
**1,500**
**4,991**
**109,285**
**42,045**|
||||||**1,082,244**|
||||||**9,027,129**|
Page 30
**NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **21. Statement of funds (continued)**
## **Restricted Funds**
## **Sainsbury Scholarship Fund**
Donor-restricted fund established to provide scholarships to pupils meeting specified eligibility criteria. No awards were made during the current or prior year, as no applicants met the criteria. The balance is being retained pending future qualifying applications.
## **Mikveh Fund**
Restricted donations received to support the operation, maintenance, and subsidised access to the Charity’s Mikveh facility for eligible users.
## **Security Fund**
Restricted grants and donations received to fund enhanced security costs for the school. The level of security provision required is greater than that of a typical school environment, and the fund enables these additional costs to be met separately from general funds.
## **Bursary Fund**
Fund established during the year to provide fee assistance to families experiencing financial hardship. The balance will be applied towards future bursary awards.
## **Other Specific Project Funds**
The remaining restricted funds represent donations received for specific school projects and facilities. Amounts are released to the Statement of Financial Activities as the related expenditure is incurred.
Page 31
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **21. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Teachers of excellence
Building fund
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Sainsbury scholarship
Mikveh
Security
IT Project
Art room
Library
Kitchen
Playground equipment
Sports Equipment
Artefacts
**Total of funds**|Balance at
1 September
2023
£
1,293,900
2,837,997
4,131,897
3,642,493
7,774,390
231,648
233,549
183,964
16,109
15,074
80,457
86,617
3,682
1,500
4,995
857,595
8,631,985|Income
£
-
-
-
2,937,685
2,937,685
-
33,781
252,599
-
-
-
-
-
-
-
286,380
3,224,065|Expenditure
£
(134,066)
(100,085)
(234,151)
(2,628,690)
(2,862,841)
-
(51,325)
(199,366)
(4,729)
(617)
(1,218)
(8,379)
(736)
-
-
(266,370)
(3,129,211)|Balance at
31 August
2024
£
1,159,834
2,737,912|
|---|---|---|---|---|
|||||3,897,746|
|||||3,951,488|
|||||7,849,234|
|||||231,648
216,005
237,197
11,380
14,457
79,239
78,238
2,946
1,500
4,995|
|||||877,605|
|||||8,726,839|
Page 32
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **22. Summary of funds**
## **Summary of funds - current year**
|Designated funds
General funds
Restricted funds|**Balance at 1**
**September**
**2024**
**£**
**3,897,746**
**3,951,488**
**877,605**
**8,726,839**|**Income**
**£**
**-**
**3,461,756**
**565,908**
**4,027,664**|**Expenditure**
**£**
**(246,318)**
**(3,094,717)**
**(361,269)**
**(3,702,304)**|**Gains/**
**(Losses)**
**£**
**-**
**(25,070)**
**-**
**(25,070)**|**Balance at**
**31 August**
**2025**
**£**
**3,651,428**
**4,293,457**
**1,082,244**
**9,027,129**|
|---|---|---|---|---|---|
## **Summary of funds - prior year**
|**Balance at**
**1 September**
**2023**
£
Designated funds
4,131,897
General funds
3,642,493
Restricted funds
857,595
8,631,985|**Income**
£
-
2,937,685
286,380
3,224,065|**Expenditure**
£
(234,151)
(2,628,690)
(266,370)
(3,129,211)|Balance at
31 August
2024
£
3,897,746
3,951,488
877,605
8,726,839|
|---|---|---|---|
## **23. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
4,138,523
Fixed asset investments
1,496,775
Current assets
4,212,395
Creditors due within one year
(1,902,808)
**Total**
7,944,885|**Restricted**
**funds**
**2025**
**£**
486,149
-
596,095
-
1,082,244|**Total**
**funds**
**2025**
**£**
**4,624,672**
**1,496,775**
**4,808,490**
**(1,902,808)**
**9,027,129**|
|---|---|---|
Page 33
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **23. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Unrestricted
funds
2024
Restricted
2024
£
£
Tangible fixed assets
4,223,967
397,811
Current assets
5,211,998
479,794
Creditors due within one year
(1,586,731)
-
**Total**
7,849,234
877,605
**24.**
**Reconciliation of net movement in funds to net cash flow from operating activities**
**2025**
**£**
Net income for the year (as per Statement of Financial Activities)
**300,290**
**Adjustments for:**
Investment income recognised in statement of financial activities
**(233,902)**
Unrealised losses on revaluation of investments
**25,070**
Depreciation and impairment of tangible fixed assets
**203,062**
Increase in debtors
**(152,142)**
Increase in creditors
**316,077**
**Net cash provided by operating activities**
**458,455**
**25.**
**Analysis of cash and cash equivalents**
**2025**
**£**
Cash in hand
**840,393**|Total
funds
2024
£
4,621,778
5,691,792
(1,586,731)
8,726,839
2024
£
94,854
(244,012)
-
179,194
(463,544)
764,199
330,691
2024
£
4,460,515|
|---|---|
Page 34
## **NAIMA JPS COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
## **26. Analysis of changes in net debt**
||**At 1**|||
|---|---|---|---|
||**September**||**At 31**|
||**2024**|**Cash flows**|**August 2025**|
||**£**|**£**|**£**|
|Cash at bank and in hand|**4,460,515**|**(3,620,122)**|**840,393**|
|Short term investments|**400,000**|**2,604,678**|**3,004,678**|
## **27. Related party transactions**
At the year end 31 August 2025, the Charity held cash deposits of £125,000 on behalf of the Charitable Fund of Rabbi Abraham and Estelle Levy. J Levy, a trustee of the Charity, is also a trustee of the Charitable Fund of Rabbi Abraham and Estelle Levy.
Page 35
## **SIGNATURE CERTIFICATE**
## Document
Name **N494_31_08_2025_Naima JPS - Final full Accounts .pdf** Creator **Kristina King (kristina.king@sopherco.com)** Date **29 May 2026 14:02:18 UTC** Identifier **65e6487b-3240-4af0-ab9c-bf6e8ff14085**
## Signers
## **julian@levyllp.com**
E-mail **julian@levyllp.com** Signed **29 May 2026 14:09:34 UTC** IP address **138.199.29.246**
## **jennica@arazi.ch**
E-mail **jennica@arazi.ch** Signed **29 May 2026 16:45:20 UTC** IP address **82.132.237.231**