CHARITY REGISTRATION NUMBER: 312568
BNOIS JERUSALEM SCHOOLS Financial Statements
31 March 2025
BRINDLEY GOLDSTEIN LIMITED
Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN
BNOIS JERUSALEM SCHOOLS
Financial Statements
Year ended 31 March 2025
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent auditor's report to the members | 5 |
| Statement of financial activities | 9 |
| Statement of financial position | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 |
BNOIS JERUSALEM SCHOOLS
Trustees' Annual Report
Year ended 31 March 2025
The trustees present their report and the financial statements of the charity for the year ended 31 March 2025.
Reference and administrative details
Registered charity name BNOIS JERUSALEM SCHOOLS Charity registration number 312568 Principal office 79 - 81 Amhurst Park London N16 5DL The trustees J Wider Mrs C Grunfeld A Lebrecht I J Eckstein Auditor Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN
Structure, governance and management
Governing document
The charity was established by deed of trust, and is an unincorporated charity with the object to provide education for girls of the Orthodox Jewish Community.
Recruitment and appointment of new trustees
A new trustee was appointed in May 2023. His name is Manuel Eckstein.
1
BNOIS JERUSALEM SCHOOLS
Trustees' Annual Report (continued)
Year ended 31 March 2025
Objectives and activities
The objects are to provide education for girls of the Orthodox Jewish Community.
Public benefit
The trustees of the school confirm that they have considered the Charity Commission's general guidance on public benefit and the requirements of S4 of the Charities Act 2011 in this area.
The charity's funds are utilised by its school to fund staff and activities to enable high quality education to be provided on an ongoing basis. When considering which pupils to admit, the school does not discriminate between them based upon the personal circumstances of their parents,
Volunteers
The majority of the charity's work is undertaken by paid employees. Occasional voluntary assistance is provided by Governors and Parents.
Achievements and performance
Charitable activities
Governing Body
The charity is governed by the board of trustees, who are vested with the power to appoint new trustees.
Risk Management
All risk assessments and Health and Safety Audits take place on an ongoing rolling program.
Achievement and Performance
Bnois Jerusalem School continues to be a very safe and happy place, where pupils thrive and enjoy coming to school. There is a high attendance rate. There is pressure from parents to have the restriction order removed as they would like their younger children to attend this school.
The Charity hopes to continue developing the school by upgrading and refurbishing to ensure the school environment is conducive to successful education.
The school is working hard to ensure the pupils receive a full and balanced education and are working hard towards the next Ofsted inspection which is due imminently.
Curriculum
There are new schemes of work in maths and literacy, and the school has invested in new textbooks for geography. There has been additional programs in place in the extra-curricular department which focuses in SMSC and PSHE. The curriculum advisors are working hard to ensure that there is a flow in the curriculum between departments.
Training
Staff have completed training on mental health through an international speaker and have gained invaluable knowledge on how to deal with pupils needing additional support. Staff have also completed training on all updates of safeguarding and health and safety and fire safety training at the beginning of the year.
2
BNOIS JERUSALEM SCHOOLS
Trustees' Annual Report (continued)
Year ended 31 March 2025
Financial review
FINANCIAL REVIEW
Principal funding sources
The charity will continue to assist with the successful development of its school. The school will continue to be upgraded and refurbished to ensure the pupils have the curriculum and facilities to enable them to face life outside school.
Investment policy and objectives
The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity.
Reserves policy
The reserves policy is to ensure that there is a sufficient stream of income to meet the working capital of the school
Plans for future periods
FUTURE PLANS
The charity will continue to assist with the successful development of its school. The school will continue to be upgraded and refurbished to ensure the pupils have facilities commensurate with those demanded by the standards of the 21st century.
Trustees' responsibilities statement
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 charity trustees to prepare financial statements for each 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 period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, 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.
3
BNOIS JERUSALEM SCHOOLS
Trustees' Annual Report (continued)
Year ended 31 March 2025
The trustees' annual report was approved on 30 January 2026 and signed on behalf of the board of trustees by:
J Wider Trustee
4
BNOIS JERUSALEM SCHOOLS
Independent Auditor's Report to the Members of BNOIS JERUSALEM SCHOOLS
Year ended 31 March 2025
Opinion
We have audited the financial statements of BNOIS JERUSALEM SCHOOLS (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities, statement of financial position, statement of cash flows 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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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.
5
BNOIS JERUSALEM SCHOOLS
Independent Auditor's Report to the Members of BNOIS JERUSALEM SCHOOLS (continued)
Year ended 31 March 2025
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. 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 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.
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 Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the trustees' report is inconsistent in any material respect with the financial statements; or
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adequate accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, 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.
6
BNOIS JERUSALEM SCHOOLS
Independent Auditor's Report to the Members of BNOIS JERUSALEM SCHOOLS (continued)
Year ended 31 March 2025
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Identifying and testing journal entries and the overall accounting records, particularly those that were significant and unusual.
Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
Assessing the extent of compliance, or lack of, with relevant laws and regulations.
Testing key revenue lines, for evidence of management bias.
Verification of key assets.
Obtaining third-party confirmation of material balances.
Documenting and verifying all significant related party balances and transactions.
Reviewing documentation such as the company board minutes, correspondence with solicitors, for discussions of irregularities including fraud.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
7
BNOIS JERUSALEM SCHOOLS
Independent Auditor's Report to the Members of BNOIS JERUSALEM
SCHOOLS (continued)
Year ended 31 March 2025
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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 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 members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr Charles Goldstein (Senior Statutory Auditor)
For and on behalf of Brindley Goldstein Limited Chartered accountants & statutory auditor 103 High street Waltham Cross EN8 7AN
30 January 2026
8
BNOIS JERUSALEM SCHOOLS
Statement of Financial Activities
Year ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 2,521,047 | 600,298 | 3,121,345 | 2,649,487 |
| Investment income | 5 | 1,235 | – | 1,235 | 2,302 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total income | 2,522,282 | 600,298 | 3,122,580 | 2,651,789 | |
| ========================================= | ================================ | ========================================= | ========================================= | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 6 | 37,325 | – | 37,325 | 30,000 |
| Expenditure on charitable activities | 7,8 | 2,628,890 | 600,298 | 3,229,187 | 2,570,268 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total expenditure | 2,666,215 | 600,298 | 3,266,512 | 2,600,268 | |
| ========================================= | ================================ | ========================================= | ========================================= | ||
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Net (expenditure)/income and net | |||||
| movement in funds | (143,933) | – | (143,932) | 51,521 | |
| ========================================= | ================================ | ========================================= | ========================================= | ||
| Reconciliation of funds | |||||
| Total funds brought forward as previously | |||||
| reported | (3,640,795) | 3,975,783 | 334,988 | 283,467 | |
| Prior year adjustment | 3,975,783 | (3,975,783) | – | – | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds brought forward as restated | 334,988 | – | 334,988 | 283,467 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| Total funds carried forward | 191,055 | – | 191,055 | 334,988 | |
| ========================================= | ========================================= | ========================================= | ========================================= |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 12 to 20 form part of these financial statements.
9
BNOIS JERUSALEM SCHOOLS
Statement of Financial Position
31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 14 | 304,641 | 291,240 |
| Current assets | |||
| Cash at bank and in hand | 58,724 | 80,393 | |
| Creditors: amounts falling due within one year | 15 | 172,309 | 36,645 |
| -------------------------------- | ---------------------------- | ||
| Net current liabilities | (113,585) | 43,748 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 191,056 | 334,988 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 191,056 | 334,988 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Restricted funds | – | 3,975,783 | |
| Unrestricted funds | 191,055 | (3,640,795) | |
| -------------------------------- | ----------------------------------------- | ||
| Total charity funds | 16 | 191,055 ================================ |
334,988 ========================================= |
These financial statements were approved by the board of trustees and authorised for issue on 30 January 2026, and are signed on behalf of the board by:
J Wider Trustee
The notes on pages 12 to 20 form part of these financial statements.
10
BNOIS JERUSALEM SCHOOLS
Statement of Cash Flows
Year ended 31 March 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net (expenditure)/income | (143,932) | 51,521 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 28,600 | 20,033 |
| Other interest receivable and similar income | (1,235) | (2,302) |
| Accrued expenses | 1,140 | 300 |
| Changes in: | ||
| Trade and other debtors | – | 11,300 |
| Trade and other creditors | 134,524 | (41,241) |
| -------------------------------- | ---------------------------- | |
| Cash generated from operations | 19,096 | 39,611 |
| Interest received | 1,235 | 2,302 |
| ---------------------------- | ---------------------------- | |
| Net cash from operating activities | 20,331 | 41,913 |
| ============================ | ============================ | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | (42,000) | (51,773) |
| ---------------------------- | ---------------------------- | |
| Net cash used in investing activities | (42,000) | (51,773) |
| ============================ | ============================ | |
| Net decrease in cash and cash equivalents | (21,669) | (9,860) |
| Cash and cash equivalents at beginning of year | 80,393 | 90,253 |
| ---------------------------- | ---------------------------- | |
| Cash and cash equivalents at end of year | 58,724 | 80,393 |
| ============================ | ============================ |
The notes on pages 12 to 20 form part of these financial statements.
11
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 79 - 81 Amhurst, London, N16 5DL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
In the process of applying the entity's accounting policies no significant judgements or key sources of estimation were made by management that have any significant effect on the amounts recognised in the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
12
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
13
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Long leasehold property | - | 2% straight line |
|---|---|---|
| Plant and machinery | - | 15% reducing balance |
| Fixtures and fittings | - | 15% reducing balance |
| Equipment | - | 33% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
14
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Financial instruments (continued)
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Donations | |||
| Donations and Childcare | 2,521,047 | – | 2,521,047 |
| Grants | |||
| Restricted: Hackney Education: Early Years Funding | – | 376,317 | 376,317 |
| Restricted: Hackney Education:EHCP | – | 220,521 | 220,521 |
| Restricted: Milk Scheme | – | 3,460 | 3,460 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| 2,521,047 | 600,298 | 3,121,345 | |
| ========================================= | ================================ | ========================================= |
15
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
4. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Donations and Childcare | 1,928,456 | – | 1,928,456 |
| Grants | |||
| Restricted: Hackney Education: Early Years Funding | – | 531,659 | 531,659 |
| Restricted: Hackney Education: EHCP | – | 187,932 | 187,932 |
| Restricted: Milk Scheme | – | 1,440 | 1,440 |
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |
| 1,928,456 | 721,031 | 2,649,487 | |
| ========================================= | ================================ | ========================================= |
5. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 1,235 | 1,235 | 2,302 | 2,302 |
| ======================= | ======================= | ======================= | ======================= |
6. Costs of raising donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Costs of raising donations and | ||||
| legacies - Donations | 37,325 | 37,325 | 30,000 | 30,000 |
| ============================ | ============================ | ============================ | ============================ |
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BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
7. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2025 | |||
| £ | £ | £ | |||
| Charitable activities | 1,173,228 | 131,698 | 1,304,926 | ||
| Support costs | 1,455,661 | 468,600 | 1,924,261 | ||
| ----------------------------------------- | -------------------------------- | ----------------------------------------- | |||
| 2,628,890 | 600,298 | 3,229,187 | |||
| ========================================= | ================================ | ========================================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Charitable activities | 983,320 | – | 983,320 | ||
| Support costs | 1,586,948 | – | 1,586,948 | ||
| ----------------------------------------- | -------------- | ----------------------------------------- | |||
| 2,570,268 | – | 2,570,268 | |||
| ========================================= | ============== | ========================================= | |||
| Expenditure on charitable activities by activity | type | ||||
| Activities | |||||
| undertaken | Support | Total funds | Total fund | ||
| directly | costs | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Charitable activities | 1,304,926 | 1,917,421 | 3,222,347 | 2,564,568 | |
| Governance costs | – | 6,840 | 6,840 | 5,700 | |
| ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ----------------------------------------- | ||
| 1,304,926 | 1,924,261 | 3,229,187 | 2,570,268 | ||
| ========================================= | ========================================= | ========================================= | ========================================= |
8. Expenditure on charitable activities by activity type
9. Analysis of support costs
Staff costs
| Analysis of | ||
|---|---|---|
| support costs | Total 2025 | Total 2024 |
| £ | £ | £ |
| 1,917,421 | 1,917,421 | 1,581,248 |
| ========================================= | ========================================= | ========================================= |
17
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
10. Net (expenditure)/income
| Net (expenditure)/income is stated after charging/(crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 28,600 | 20,033 |
| Operating lease rentals | 9,835 | 13,193 |
| ============================ | ============================ | |
| Auditors remuneration | ||
| 2025 | 2024 | |
| £ | £ | |
| Fees payable for the audit of the financial statements | 6,840 ======================= |
5,700 ======================= |
11. Auditors remuneration
12. Staff costs
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Wages and salaries | 1,917,421 | 1,581,248 |
| ========================================= | ========================================= | |
| The average head count of employees during the year was 259 (2024: 275). | The average | |
| number of full-time equivalent employees during the year is analysed as follows: | ||
| 2025 | 2024 | |
| No. | No. | |
| Number of staff | 259 | 275 |
| ============== | ============== |
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
13. Trustee remuneration and expenses
There were no trustees' remuneration or other benefits for the year ended 31 March 2025.
18
BNOIS JERUSALEM SCHOOLS
Notes to the Financial Statements (continued)
Year ended 31 March 2025
14. Tangible fixed assets
| Long | |||||
|---|---|---|---|---|---|
| leasehold | Plant and | Fixtures and |
|||
| property | machinery | fittings |
Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At 1 April 2024 | 250,901 | 82,742 | 100,512 |
24,198 | 458,353 |
| Additions | 31,850 | – | – |
10,150 | 42,000 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | -------------------------------- | |
| At 31 March 2025 | 282,751 | 82,742 | 100,512 |
34,348 | 500,353 |
| ================================ | ============================ | ================================ | ============================ | ================================ | |
| Depreciation | |||||
| At 1 April 2024 | 52,598 | 61,232 | 44,343 |
8,940 | 167,113 |
| Charge for the year | 5,500 | 3,226 | 8,425 |
11,448 | 28,600 |
| -------------------------------- | ---------------------------- | -------------------------------- | ---------------------------- | -------------------------------- | |
| At 31 March 2025 | 58,098 | 64,458 | 52,768 |
20,388 | 195,712 |
| ================================ | ============================ | ================================ | ============================ | ================================ | |
| Carrying amount | |||||
| At 31 March 2025 | 224,653 | 18,284 | 47,744 |
13,960 | 304,641 |
| ================================ | ============================ | ================================ | ============================ | ================================ | |
| At 31 March 2024 | 198,303 | 21,510 | 56,169 |
15,258 | 291,240 |
| ================================ | ============================ | ================================ | ============================ | ================================ |
15. Creditors: amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 79,892 | 9,945 |
| Accruals and deferred income | 6,840 | 5,700 |
| Other creditors | 85,577 | 21,000 |
| -------------------------------- | ---------------------------- | |
| 172,309 | 36,645 | |
| ================================ | ============================ |
16. Analysis of charitable funds
Unrestricted funds
| At | ||||||
|---|---|---|---|---|---|---|
| At | Prior year | 31 March | 20 | |||
| 1 April 2024 | Income | Expenditure | adjustments | 25 | ||
| £ | £ | £ | £ | £ | ||
| General funds | (3,640,795) | 2,522,282 | (2,666,215) | 3,975,783 | 191,055 | |
| ========================================= | ========================================= | ========================================= | ========================================= | ================================ | ||
| At | ||||||
| At | Prior year | 31 March | 20 | |||
| 1 April 2023 | Income | Expenditure | adjustments | 24 | ||
| £ | £ | £ | £ | £ | ||
| General funds | (2,971,285) | 1,930,758 | (2,600,268) | – | (3,640,795) | |
| ========================================= | ========================================= | ========================================= | ============== | ========================================= |
19
BNOIS JERUSALEM SCHOOLS
Notes to the Detailed Statement of Financial Activities (continued)
Year ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Brought forward | 50,341 | 74,574 | |||
| Restricted funds | |||||
| At | |||||
| At | Prior year | 31 March 20 | |||
| 1 April 2024 | Income | Expenditure | adjustments | 25 | |
| £ | £ | £ | £ | £ | |
| Restricted Fund | 3,975,783 | 600,298 | (600,298) | (3,975,783) | – |
| ========================================= | ================================ | ================================ | ========================================= | ============== | |
| At | |||||
| At | Prior year | 31 March 20 | |||
| 1 April 2023 | Income | Expenditure | adjustments | 24 | |
| £ | £ | £ | £ | £ | |
| Restricted Fund | 3,254,752 | 721,031 | – | – | 3,975,783 |
| ========================================= | ================================ | ============== | ============== | ========================================= | |
| 17. Analysis of net assets between funds | |||||
| Unrestricted | Total Funds | ||||
| Funds | 2025 | ||||
| £ | £ | ||||
| Tangible fixed assets | 304,641 | 304,641 | |||
| Current assets | 58,724 | 58,724 | |||
| Creditors less than 1 year | (172,309) | (172,309) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 191,056 | 191,056 | |||
| ================================ | ================================ | ||||
| Unrestricted | Total Funds | ||||
| Funds | 2024 | ||||
| £ | £ | ||||
| Tangible fixed assets | 291,240 | 291,240 | |||
| Current assets | 80,393 | 80,393 | |||
| Creditors less than 1 year | (36,645) | (36,645) |
|||
| -------------------------------- | -------------------------------- | ||||
| Net assets | 334,988 | 334,988 | |||
| ================================ | ================================ |
18. Analysis of changes in net debt
| At | |||||
|---|---|---|---|---|---|
| At | 1 | Apr 2024 | Cash flows | 31 Mar 2025 | |
| £ | £ | £ | |||
| Cash at bank and in hand | 80,393 | (21,669) | 58,724 |
||
| ============================ | ============================ | ============================ |
20