REGISTERED CHARITY NUMBER: 312913
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2021
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 2021
| 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 2021
The trustees present their report with the financial statements of the charity for the year ended 31 August 2021. 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 2021
Trustees
J Baumgarten (resigned 1.9.20) Y M Cohen B Dunner Mrs L Orzel
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:
........................................................................ B Dunner - 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 2021.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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 2021
| 31.8.21 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 12,240 Investment income 3 30,222 Total 42,462 EXPENDITURE ON Charitable activities 4 Charitable activities 21,971 NET INCOME 20,491 RECONCILIATION OF FUNDS Total funds brought forward 521,662 TOTAL FUNDS CARRIED FORWARD 542,153 |
31.8.20 Total funds £ 300 30,310 |
|---|---|
| 30,610 5,330 |
|
| 25,280 496,382 |
|
| 521,662 |
The notes form part of these financial statements
Page 4
Beth Jacob Teachers Seminary
Balance Sheet 31 August 2021
| 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 |
31.8.21 Unrestricted fund £ 852,201 1,575 2,967 4,542 (31,002) (26,460) 825,741 (283,588) 542,153 542,153 542,153 |
31.8.20 Total funds £ 852,935 1,575 8,152 9,727 (31,002) (21,275) 831,660 (309,998) 521,662 521,662 521,662 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. B Dunner - 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 2021
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 2021
| 2. DONATIONS AND LEGACIES Donations 3. INVESTMENT INCOME Rents received 4. CHARITABLE ACTIVITIES COSTS Charitable activities 5. GRANTS PAYABLE Charitable activities 6. SUPPORT COSTS Charitable activities |
31.8.21 31.8.20 Unrestricted Total funds funds £ £ 12,240 300 31.8.21 31.8.20 Unrestricted Total funds funds £ £ 30,222 30,310 Grant funding of activities Support Direct (see note costs (see Costs 5) note 6) Totals £ £ £ £ 734 13,000 8,237 21,971 31.8.21 31.8.20 £ £ 13,000 - Governance costs £ 8,237 |
|---|---|
continued...
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Beth Jacob Teachers Seminary
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
6. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| SUPPORT COSTS - continued Support costs, included in the above, are as follows: |
||
|---|---|---|
| 31.8.21 | 31.8.20 | |
| Charitable | Total | |
| activities | activities | |
| £ | £ | |
| Wages | - | (3,436) |
| Professional fees | 2,481 | - |
| Accountancy and legal fees | 780 | 780 |
| Mortgage Interest | 4,964 | 6,997 |
| Bank Charges | 12 | 11 |
| 8,237 | 4,352 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 300 |
| Investment income | 30,310 |
| Total | 30,610 |
| EXPENDITURE ON | |
| Charitable activities | |
| Charitable activities | 5,330 |
| NET INCOME | 25,280 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 496,382 |
| TOTAL FUNDS CARRIED FORWARD | 521,662 |
continued...
Page 8
Beth Jacob Teachers Seminary
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
9. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1 September 2020 and 31 August 2021 850,000 39,469 DEPRECIATION At 1 September 2020 - 36,534 Charge for year - 734 At 31 August 2021 - 37,268 NET BOOK VALUE At 31 August 2021 850,000 2,201 At 31 August 2020 850,000 2,935 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.21 £ Other debtors 1,575 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.21 £ Bank loans and overdrafts (see note 13) 30,222 Other creditors 780 31,002 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.8.21 £ Bank loans (see note 13) 283,588 13. LOANS An analysis of the maturity of loans is given below: 31.8.21 £ 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 283,588 |
Totals £ 889,469 |
|---|---|
| 36,534 734 |
|
| 37,268 | |
| 852,201 | |
| 852,935 | |
| 31.8.20 £ 1,575 31.8.20 £ 30,222 780 31,002 31.8.20 £ 309,998 |
|
| 31.8.20 £ 30,222 |
|
| 309,998 |
continued...
Page 9
Beth Jacob Teachers Seminary
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
14. MOVEMENT IN FUNDS
| At 1/9/20 £ Unrestricted funds General fund 521,662 TOTAL FUNDS 521,662 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 42,462 TOTAL FUNDS 42,462 Comparatives for movement in funds At 1/9/19 £ Unrestricted funds General fund 496,382 TOTAL FUNDS 496,382 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 30,610 TOTAL FUNDS 30,610 |
Net movement At in funds 31/8/21 £ £ 20,491 542,153 20,491 542,153 Resources Movement expended in funds £ £ (21,971) 20,491 (21,971) 20,491 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 |
|---|---|
continued...
Page 10
Beth Jacob Teachers Seminary
Notes to the Financial Statements - continued for the Year Ended 31 August 2021
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 1/9/19 £ 496,382 496,382 |
Net movement in funds £ 45,771 45,771 |
At 31/8/21 £ 542,153 |
|---|---|---|---|
| 542,153 |
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 | 73,072 | (27,301) | 45,771 |
| TOTAL FUNDS | 73,072 | (27,301) | 45,771 |
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2021.
Page 11
Beth Jacob Teachers Seminary
Detailed Statement of Financial Activities for the Year Ended 31 August 2021
| 31.8.21 | 31.8.20 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 12,240 | 300 |
| Investment income | ||
| Rents received | 30,222 | 30,310 |
| Total incoming resources | 42,462 | 30,610 |
| EXPENDITURE | ||
| Charitable activities | ||
| Depreciation of tangible fixed assets | 734 | 978 |
| Grants to institutions | 13,000 | - |
| 13,734 | 978 | |
| Support costs | ||
| Management | ||
| Wages | - | (3,436) |
| Governance costs | ||
| Professional fees | 2,481 | - |
| Accountancy and legal fees | 780 | 780 |
| Mortgage Interest | 4,964 | 6,997 |
| Bank Charges | 12 | 11 |
| 8,237 | 7,788 | |
| Total resources expended | 21,971 | 5,330 |
| Net income | 20,491 | 25,280 |
This page does not form part of the statutory financial statements
Page 12