**REGISTERED CHARITY NUMBER: 312913**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 August 2020**
## **for**
## **Beth Jacob Teachers Seminary**
Martin+Heller 5 North End Road London NW11 7RJ
**Beth Jacob Teachers Seminary**
**Contents of the Financial Statements for the Year Ended 31 August 2020**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|2|
|**Independent Examiner's Report**||3||
|**Statement of Financial Activities**||4||
|**Balance Sheet**||5||
|**Notes to the Financial Statements**|6|to|11|
|**Detailed Statement of Financial Activities**||12||
**Beth Jacob Teachers Seminary**
## **Report of the Trustees for the Year Ended 31 August 2020**
The trustees present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The charity was established over 60 years ago in order to provide training and general Jewish ethical and moral education to girls of the orthodox Jewish faith. It has an intake from both the UK and abroad and caters for students both during the day and for after hours activities.
## **Public benefit**
The trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission when reviewing the Charity's aims and objectives and in planning future activities.
## **ACHIEVEMENT AND PERFORMANCE**
The charity continues to meet its objectives. The educational achievements during the period were satisfactory.
## **FINANCIAL REVIEW**
During the period, the charity's incoming resources exceeded the outgoing resources.
The trustees are satisfied with the results for the period.
The trustees do not seek to maintain reserves, other than to ensure that they can continue the activities of the charity.
## **FUTURE PLANS**
There are no current plans to change the activities or modus operandi in the foreseeable future.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
## **Recruitment and appointment of new trustees**
It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitable recruitment, induction and training procedures.
## **Organisational structure**
The charity trustees are actively involved in its affairs on a regular basis. It also has rabbinical advisors as well as both full and part time teaching staff.
## **Risk management**
The trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
312913
## **Principal address**
196-198 Lordship Road London N16 5ES
Page 1
**Beth Jacob Teachers Seminary**
## **Report of the Trustees**
**for the Year Ended 31 August 2020**
## **Trustees**
J Baumgarten Y M Cohen B Dunner Mrs L Orzel (appointed 3.8.20)
## **Independent Examiner**
A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
## **INDEPENDENT EXAMINER**
Martin+Heller have been reappointed as independent examiners for the ensuing year.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ J Baumgarten - Trustee
Page 2
**Independent Examiner's Report to the Trustees of**
**Beth Jacob Teachers Seminary**
## **Independent examiner's report to the trustees of Beth Jacob Teachers Seminary**
I report to the charity trustees on my examination of the accounts of Beth Jacob Teachers Seminary (the Trust) for the year ended 31 August 2020.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A Heller FCA Martin+Heller 5 North End Road London NW11 7RJ
Date: .............................................
Page 3
**Beth Jacob Teachers Seminary**
## **Statement of Financial Activities for the Year Ended 31 August 2020**
|31.8.20
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
300
Investment income
3
30,310
**Total**
30,610
**EXPENDITURE ON**
**Charitable activities**
4
Charitable activities
5,330
Donations paid
-
**Total**
5,330
**NET INCOME**
25,280
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
496,382
**TOTAL FUNDS CARRIED FORWARD**
521,662|31.8.19
Total
funds
£
3,800
30,222|
|---|---|
||34,022
6,245
1,284|
||7,529|
||26,493
469,889|
||496,382|
The notes form part of these financial statements
Page 4
**Beth Jacob Teachers Seminary**
## **Balance Sheet 31 August 2020**
|Notes
**FIXED ASSETS**
Tangible assets
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|31.8.20
Unrestricted
fund
£
852,935
1,575
8,152
9,727
(31,002)
(21,275)
831,660
(309,998)
521,662
521,662
521,662|31.8.19
Total
funds
£
853,913
1,575
2,602
4,177
(31,002)
(26,825)
827,088
(330,706)
496,382
496,382
496,382|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Baumgarten - Trustee
The notes form part of these financial statements
Page 5
**Beth Jacob Teachers Seminary**
**Notes to the Financial Statements for the Year Ended 31 August 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All donations are recognised in the Statement of Financial Activities when received. All other income is recognised once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
All fixed assets are initially recorded at cost.
## **Depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
**Beth Jacob Teachers Seminary**
**Notes to the Financial Statements - continued for the Year Ended 31 August 2020**
|**2.**|**DONATIONS AND LEGACIES**||||
|---|---|---|---|---|
||||31.8.20|31.8.19|
||||Unrestricted|Total|
||||funds|funds|
||||£|£|
||Donations||300|3,800|
|**3.**|**INVESTMENT INCOME**||||
||||31.8.20|31.8.19|
||||Unrestricted|Total|
||||funds|funds|
||||£|£|
||Rents received||30,310|30,222|
|**4.**|**CHARITABLE ACTIVITIES COSTS**||||
||||Support||
|||Direct|costs (see||
|||Costs|note 6)|Totals|
|||£|£|£|
||Charitable activities|978|4,352|5,330|
|**5.**|**GRANTS PAYABLE**||||
||||31.8.20|31.8.19|
||||£|£|
||Donations paid||-|1,284|
|**6.**|**SUPPORT COSTS**||||
||||Governance||
|||Management|costs|Totals|
|||£|£|£|
||Charitable activities|(3,436)|7,788|4,352|
||Support costs, included in the above, are as follows:||||
||||31.8.20|31.8.19|
||||Charitable|Total|
||||activities|activities|
||||£|£|
||Wages||(3,436)|-|
||Sundries||-|359|
||Accountancy and legal fees||780|780|
||Mortgage Interest||6,997|3,785|
||Bank Charges||11|17|
||||4,352|4,941|
continued...
Page 7
**Beth Jacob Teachers Seminary**
**Notes to the Financial Statements - continued for the Year Ended 31 August 2020**
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
||Unrestricted|
|---|---|
||fund|
||£|
|**INCOME AND ENDOWMENTS FROM**||
|Donations and legacies|3,800|
|Investment income|30,222|
|**Total**|34,022|
|**EXPENDITURE ON**||
|**Charitable activities**||
|Charitable activities|6,245|
|Donations paid|1,284|
|**Total**|7,529|
|**NET INCOME**|26,493|
|**RECONCILIATION OF FUNDS**||
|**Total funds brought forward**|469,889|
|**TOTAL FUNDS CARRIED FORWARD**|496,382|
continued...
Page 8
**Beth Jacob Teachers Seminary**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2020**
## **9. TANGIBLE FIXED ASSETS**
|Fixtures
Freehold
and
property
fittings
£
£
**COST**
At 1 September 2019 and 31 August 2020
850,000
39,469
**DEPRECIATION**
At 1 September 2019
-
35,556
Charge for year
-
978
At 31 August 2020
-
36,534
**NET BOOK VALUE**
At 31 August 2020
850,000
2,935
At 31 August 2019
850,000
3,913
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.8.20
£
Other debtors
1,575
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.8.20
£
Bank loans and overdrafts (see note 13)
30,222
Other creditors
780
31,002
**12.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.8.20
£
Bank loans (see note 13)
309,998
**13.**
**LOANS**
An analysis of the maturity of loans is given below:
31.8.20
£
Amounts falling due within one year on demand:
Bank loans
30,222
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
309,998|Totals
£
889,469|
|---|---|
||35,556
978|
||36,534|
||852,935|
||853,913|
||31.8.19
£
1,575
31.8.19
£
30,222
780
31,002
31.8.19
£
330,706|
||31.8.19
£
30,222|
||330,706|
continued...
Page 9
**Beth Jacob Teachers Seminary**
**Notes to the Financial Statements - continued for the Year Ended 31 August 2020**
## **14. MOVEMENT IN FUNDS**
|At 1/9/19
£
**Unrestricted funds**
General fund
496,382
**TOTAL FUNDS**
496,382
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
30,610
**TOTAL FUNDS**
30,610
**Comparatives for movement in funds**
At 1/9/18
£
**Unrestricted funds**
General fund
469,889
**TOTAL FUNDS**
469,889
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
34,022
**TOTAL FUNDS**
34,022|Net
movement
At
in funds
31/8/20
£
£
25,280
521,662
25,280
521,662
Resources
Movement
expended
in funds
£
£
(5,330)
25,280
(5,330)
25,280
Net
movement
At
in funds
31/8/19
£
£
26,493
496,382
26,493
496,382
Resources
Movement
expended
in funds
£
£
(7,529)
26,493
(7,529)
26,493|
|---|---|
continued...
Page 10
**Beth Jacob Teachers Seminary**
**Notes to the Financial Statements - continued for the Year Ended 31 August 2020**
## **14. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1/9/18
£
469,889
469,889|Net
movement
in funds
£
51,773
51,773|At
31/8/20
£
521,662|
|---|---|---|---|
||||521,662|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|64,632|(12,859)|51,773|
|**TOTAL FUNDS**|64,632|(12,859)|51,773|
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2020.
Page 11
**Beth Jacob Teachers Seminary**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2020**
||31.8.20|31.8.19|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|300|3,800|
|**Investment income**|||
|Rents received|30,310|30,222|
|**Total incoming resources**|30,610|34,022|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Depreciation of tangible fixed assets|978|1,304|
|Grants to institutions|-|1,284|
||978|2,588|
|**Support costs**|||
|**Management**|||
|Wages|(3,436)|-|
|**Governance costs**|||
|Sundries|-|359|
|Accountancy and legal fees|780|780|
|Mortgage Interest|6,997|3,785|
|Bank Charges|11|17|
||7,788|4,941|
|Total resources expended|5,330|7,529|
|**Net income**|25,280|26,493|
This page does not form part of the statutory financial statements
Page 12