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2021-08-31-accounts

Charity number: 313109

THE JEWISH SECONDARY SCHOOLS MOVEMENT

TRUSTEE'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

THE JEWISH SECONDARY SCHOOLS MOVEMENT

CONTENTS

Page
Reference and administrative details of the company, its Trustees and advisers 1
Trustee's report 2 - 4
Independent auditors' report on the financial statements 5 - 7
Statement of financial activities 8
Company balance sheet 9
Notes to the financial statements 10 - 18

THE JEWISH SECONDARY SCHOOLS MOVEMENT

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2021

Trustees The Trustees of the J.S.S.M. Charity registered number 313109 Principal office 48 Wykeham Road London NW4 2SU Independent auditors Landau Baker Limited Chartered Accountants Mountcliff House 154 Brent Street London NW4 2DR Bankers Lloyds Bank Plc 190 Great Portland Street London W1A 4LN

Page 1

THE JEWISH SECONDARY SCHOOLS MOVEMENT

TRUSTEE'S REPORT FOR THE YEAR ENDED 31 AUGUST 2021

The Trustee present their annual report together with the audited financial statements of the company for the year 1 September 2020 to 31 August 2021.

Reference and administrative details

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements

The Trustee

The Trustee of the charity during the year was the trustee company called The Trustees of the J.S.S.M., a company limited by guarantee, the directors of which were:

Mr. J. M. Miller Mr. M. A. Richman Mr. D. M. Green Mr. D. P. Lyons

Objectives and activities

a. Policies and objectives

The objects of the charity are to advance orthodox Jewish education in accordance with the doctrine and principles of the orthodox Jewish faith as laid down in the Shulchan Aruch. These objectives are provided and maintained through the constituent schools. There have been no changes in the objects of the charity during the year. These financial statements record the income and expenditure of items not dealt with by the Government and Local Education Authorities.

In setting objectives and planning for activities, the Trustee have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Achievements and performance

The Hasmonean High School, Hasmonean Primary School and Beit Shvidler Primary School continue to offer high quality education to its pupils.

c. Main activities undertaken to further the company's purposes for the public benefit

The directors of the trustee company 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 purpose and objective of the charity is the provision of high quality Jewish education in a safe and supporting learning environment.

The charity's funds are utilised by its schools to fund staff and activities to enable high quality education to be provided on an ongoing basis. When considering which pupils to admit, the schools do not discriminate between them based upon the personal circumstances of their parents.

Page 3

THE JEWISH SECONDARY SCHOOLS MOVEMENT

Achievements and performance

Financial review

a. Going concern

After making appropriate enquiries, the Trustee have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The directors of the trustee company aim to ensure that there are enough reserves to cover one term's costs and are confident there are sufficient reserves for the foreseeable future.

Structure, governance and management

a. Constitution

The Movement was established by Deeds of Trust in 1933 and 1948.

The governing instrument is a High Court Scheme of 18 February 1982 as varied or affected by a Scheme of the Charity Commissioners of 11 March 1994.

b. Methods of appointment or election of trustees

The directors of the trustee company are recruited from within the Jewish community who will be able to demonstrate an ability to support, promote and lead the development of the charity. They will have an area of expertise that will enhance their work and contribute to the achievement of the charity's objectives. New directors undergo induction training to brief them on their legal obligations under charity law, the committee and decision making process, the objectives and financial performance of the charity. New directors are appointed by the existing directors having regard to the particular skills and expertise that the charity has need of at the relevant time.

Information on fundraising practices

We strictly abide by fundraising and data protection legislation and we follow best practice. We only hold information that is necessary for communicating with donors. We do not sell or share your data with anyone else. If any donor does not want us to communicate with them or want to change the way we do, we always respect their decision. We treat donations with the utmost care - 100% of every £1 we spend goes directly towards providing educational services to pupils.

Page 3

THE JEWISH SECONDARY SCHOOLS MOVEMENT

TRUSTEE'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Statement of Trustee's responsibilities

The Trustee are responsible for preparing the Trustee's 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 & Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:

The Trustee are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the company 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 Trustee at the time when this Trustee's report is approved has confirmed that:

Auditors

The auditors, Landau Baker Limited, have indicated their willingness to continue in office. The designated Trustee will propose a motion reappointing the auditors at a meeting of the Trustee.

Approved by order of the members of the board of Trustee on 3 April 2023 and signed on their behalf by:

J M Miller Trustee

Page 4

THE JEWISH SECONDARY SCHOOLS MOVEMENT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE JEWISH SECONDARY SCHOOLS MOVEMENT

OPINION

We have audited the financial statements of The Jewish Secondary Schools Movement (the 'charity') for the year ended 31 August 2021 set out on pages 10 to 17. 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).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

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 Group 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.

USE OF OUR REPORT

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an 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 its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

CONCLUSIONS RELATING TO GOING CONCERN

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Page 5

THE JEWISH SECONDARY SCHOOLS MOVEMENT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE JEWISH SECONDARY SCHOOLS MOVEMENT (CONTINUED)

Other information

The Trustee is 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 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

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustee's responsibilities statement, the Trustees are responsible for the preparation of the financial statements which 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 Group's and the parent 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 Group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Page 6

THE JEWISH SECONDARY SCHOOLS MOVEMENT

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE JEWISH SECONDARY SCHOOLS MOVEMENT (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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.

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.

Landau Baker Limited

Chartered Accountants

Mountcliff House

154 Brent Street

London

NW4 2DR

Date: 3 April 2023

Landau Baker Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 7

THE JEWISH SECONDARY SCHOOLS MOVEMENT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2021

Note
Income from:
Donations and legacies
3
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2021
£
259,485		 Restricted
funds
2021
£
-		 Total
funds
2021
£
259,485		 Total
funds
2020
£
551,493
259,485 - 259,485 551,493
115,420 - 115,420 103,204
115,420 - 115,420 103,204
144,065 - 144,065 448,289
13,256,114
144,065		 3,685,366
-		 16,941,480
144,065		 16,493,191
448,289
13,400,179 3,685,366 17,085,545 16,941,480

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 10 to 17 form part of these financial statements.

Page 8

THE JEWISH SECONDARY SCHOOLS MOVEMENT

BALANCE SHEET AS AT 31 AUGUST 2021

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
10
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
11
Unrestricted funds
11
Total funds		 326,058
545,297		 2021
£
17,635,567
17,635,567
326,058
465,053
791,111
(86,774)
782,081
18,417,648
(1,332,103)
17,085,545
17,085,545
3,685,366
13,400,179
17,085,545		 2020
£
17,635,567
17,635,567
704,337
871,355
(89,274)
18,339,904
(1,398,424)
16,941,480
16,941,480
3,685,366
13,256,114
16,941,480

The financial statements were approved and authorised for issue by the Trustee on 3 April 2023 and signed on their behalf by:

J M Miller

Trustee

The notes on pages 10 to 17 form part of these financial statements.

Page 9

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

1. General information

The Jewish Secondary Schools Movement is a registered charity, number 313109, and is constituted under a Trust deed.

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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Jewish Secondary Schools Movement 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

After making appropriate enquiries, the directors of the trustee company have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason the going concern basis has been adopted in preparing the financial statements.

2.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

Page 10

All expenditure is inclusive of irrecoverable VAT.

Page 11

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

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.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method, unless not deemed to be appropriate for the class of asset..

Depreciation is provided on the following bases:

Motor vehicles - 25% reducing balance - Fixtures and fittings 20% straight line - Playground and equipment 10% straight line

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 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.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet 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 company 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.

2.9 Financial instruments

The Group 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 11

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

2. Accounting policies (continued)

2.10 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group 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.

3. Income from donations and legacies

Parental contributions and donations
Total 2020		 Unrestricted
funds
2021
£
259,485		 Total
funds
2021
£
259,485		 Total
funds
2020
£
551,493

551,493 551,493

4. Analysis of expenditure by activities

Charitable activities
Total 2020		 Activities
undertaken
directly
2021
£
22,005		 Support
costs
2021
£
93,415		 Total
funds
2021
£
115,420		 Total
funds
2020
£
103,204

22,026 81,178 103,204

Page 12

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

4. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
School equipment, repairs and other costs
Total 2020
Analysis of support costs
Governance costs
Total 2020		 Charitable
activities
2021
£
22,005
-		 Total
funds
2021
£
22,005
-		 Total
funds
2020
£
9,000
13,026
22,005 22,005 22,026

Total
funds
2020
£
81,178
22,026 22,026
Charitable
activities
2021
£
93,415		 Total
funds
2021
£
93,415

81,178 81,178

5. Staff costs

2021
£
Wages and salaries
22,005
22,005
The average number of persons employed by the company during the year was as follows:		 2021
£
22,005		 2020
£
9,000
22,005 9,000
2021 2020
No. No.

1

1

Rabbinic Leader

Page 13

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2021 2020 No. No. In the band £90,001 - £100,000 - 1

6. Trustee's remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2020 - £NIL-)

During the year ended 31 August 2021, no Trustee expenses have been incurred (2020 - £NIL) .

7. Tangible fixed assets

Cost or valuation
At 1 September 2020
At 31 August 2021
Net book value
At 31 August 2021
At 31 August 2020		 Freehold
property
£
16,637,548		 Assets
under
construction
£
998,019		 Total
£
17,635,567
16,637,548 998,019 17,635,567
16,637,548 998,019 17,635,567
16,637,548 998,019 17,635,567

Page 14

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

8. Debtors

2021
£
Due within one year
Other debtors
326,058
326,058
9.
Creditors: Amounts falling due within one year
2021
£
Bank loans
59,274
Other creditors
23,000
Accruals and deferred income
7,000
Other unallocated
-
89,274
10.
Creditors: Amounts falling due after more than one year
Group
2021
£
Bank loans
1,332,103		 2021
£
326,058		 2020
£
326,058		 2021
£
326,058		 2020
£
526,116
526,116
2020
£
59,274
23,000
4,500
-
86,77
326,058 326,058 326,058
2021
£
59,274
23,000
7,000
-
2021
£
59,274
23,000
7,000
-		 2020
£
59,274
23,000
4,501
(1)
89,274 86,774 89,274
Charity
2021
£
1,332,103		 Charity
2020
£
1,398,424
Group
2021
£
1,332,103		 Group
2020
£
1,398,424

Page 15 Page 14

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

11.
Statement of funds
Statement of funds - current year
Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds
Statement of funds - prior year
Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds		 Balance at 1
September
2020
£
13,256,114		 Income
£
259,485		 Expenditure
£
(115,420)		 Balance at
31 August
2021
£
13,400,179
3,685,366 -
-		 3,685,366
16,941,480 259,485 (115,420) 17,085,545
Balance at
1 September
2019
£
12,279,107		 Income
£
5,336,081		 Expenditure
£
(4,359,074)		 Balance at
31 August
2020
£
13,256,114
3,685,366 -
-		 3,685,366
15,964,473 5,336,081 (4,359,074) 16,941,480

Page 16

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

12. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2021
£
13,950,607
870,949
(89,274)
(1,332,103)		 Restricted
funds
2021
£
3,684,960
406
-
-		 Restricted
funds - clas
s ii
2021
£
-
-
-
-		 Total
funds
2021
£
17,635,567
871,355
(89,274)
(1,332,103)
13,400,179 3,685,366 - 17,085,545

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Unrestricted
funds
2020
£
13,950,607
790,705
(86,774)
(1,398,424)		 Restricted
funds
2020
£
3,684,960
406
-
-		 Total
funds
2020
£
17,635,567
791,111
(86,774)
(1,398,424)
13,256,114 3,685,366 16,941,480

13. Related party transactions

No directors of the trustee company received any remuneration or expenses during the year.

Page 17

THE JEWISH SECONDARY SCHOOLS MOVEMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021