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2020-08-31-accounts

THE JEWISH DAY PRIMARY SCHOOL

TRUSTEES REPORT & AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

Charity No 526437

B Olsberg & Co Chartered Accountants & Statutory Auditor Enterprise House 3 Middleton Road Manchester M8 5DT

THE JEWISH DAY PRIMARY SCHOOL

Contents
Page
Trustees’ Report 3
Independent Auditors’ Report 8
Statement of Financial Activities 10
Balance Sheet 11
Cashfow Statement 12
Notes to the Accounts
 13

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THE JEWISH DAY PRIMARY SCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED

31 AUGUST 2020

The Trustees present their annual report and financial statements of the charity for the year ended 31st August 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and 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 (FRS102) (Effective 1 January 2015)

REFERENCE AND ADMINISTRATIVE INFORMATION

CHARITY INFORMATION

Trustees Mr D. M. Halpern Mr M. Halpern Mr S. Yodaiken Rabbi J Wreschner (appointed 6[th] August 2020) Rabbi I Friedman (appointed 6[th] August 2020) Chief Executive Officer M Halpern Charity Number 526437 Charity Offices Sedgley Park Road, Prestwich, Manchester M25 8JX Auditors B Olsberg & Co, Chartered Accountants & Statutory Auditors 3 Middleton Road, Manchester M8 5DT Bankers H S B C Plc, Manchester High Street Branch, 8 High Street Manchester M60 4AJ

The Charity was founded on 13 June 1951 and is registered with the Charity Commission.

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The charity is governed by its Trust Deed dated 13 June 1951 which has not been amended.

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THE JEWISH DAY PRIMARY SCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED

31 AUGUST 2020 Cont……

GOVERNING BODY

The structure of the Charity consists of three trustees. The Board of Trustees is authorised to appoint new Trustees to fill vacancies arising through resignation or death of an existing trustee.

TRUSTEES

The trustees have complied with the duty in the Charities Act 2011 to have due regard to guidance published by the Charity Commission.

TRUSTEES INDUCTION AND TRAINING

It is not currently the intention of the Trustees of the Charity to appoint new Trustees. Should the situation change in the future, the Trustees will apply suitable recruitment training and procedures.

ORGANISATIONAL MANAGEMENT

The Trustees of the Charity, are legally responsible for the overall management and control of the Charity and meet regularly with the management committee.

The trustees delegate the day to day responsibility for the running of the school to the school head teacher and principal Rabbi Dr J. Yodaiken and a management committee.

PRINCIPLE RISKS AND UNCERTAINTIES

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust. These risks include macro economic factors governing the whole economy. Additionally, the charity may be exposed to interest rate increases with reference to loans.

Other risks faced by the trust include operational risks due to reductions in fundraising. These risks are managed by the trustees anticipation of such risks and reductions in expenditure as appropriate.

The trustees are satisfied that systems are in place to manage the exposure to the above major risks.

RISK MANAGEMENT

The trustees actively review the major risks which the charity faces on a regular basis and believe that reviewing the finances regularly combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.

OBJECTS, AIMS, OBJECTIVES AND ACTIVITIES

The Charitable Trust is constituted by Trust Deed, and its objects are to provide a thorough religious education for Jewish children of primary school age and to conduct a Kindergarten school.

The policy of the Charitable Trust continues to be to run the school in accordance with its objects and to seek additional finance and support for The Yesoiday Hatorah School.

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It is intended to continue with the Trusts current activities.

6

THE JEWISH DAY PRIMARY SCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED

31 AUGUST 2020 Cont….

PUBLIC BENEFIT

The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the charity’s aims and objectives and in planning future activities.

AIMS AND INTENDED IMPACT

Within these objects, the trustees aim is to provide funds for the running of its school.

OBJECTIVES FOR THE YEAR

The objective this year is to continue to give support to the running of the school.

STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES

These included meetings with parents and potential donors to obtain funds for the running of the school.

PRINCIPAL ACTIVITIES OF THE YEAR

The charity collected funds during the year which were sufficient to meet the needs of the school and provided education at a premium level in religious and secular studies.

GRANT MAKING POLICY

The policy is to provide funds for the running of the school.

STATEGIC REVIEW AND ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR FINANCIAL REVIEW

Transactions and Financial Position

The Statement of Financial Activities shows a total income of £2,328,552 (2019 - £2,066,687) and total resources expended were £1,800,853 (2019 - £1,744,865) leaving a surplus for the year of £527,699 (2019 – surplus £321,822) for the year. After making grants to Yesoiday Hatorah Academy of £360,334 unrestricted funds increased from £995,018 to £1,162,383.

The Trustees hereby gratefully acknowledge a further grant from Delapage Ltd of £135,000.

Funds available are sufficient to permit the charity to continue in operation and to carry on the same level of school funding.

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THE JEWISH DAY PRIMARY SCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED

31 AUGUST 2020 Cont……

FINANCIAL REVIEW AND RESULTS FOR THE YEAR

The Trustees consider that the performance of the charity this year has been satisfactory. There were no significant changes in the year. The nature of the distributions were in line with the constitution and objects of the charity.

This is in line with the wishes of the Trustees who constantly review the effectiveness of the charity and approve the scope of their activities.

The trustees are delighted that the Academy – Yesoiday Hatorah School is also using the school buildings for furthering the education of the children. Discretionary grants made to the academy for this year amounted to £360,334 (2019 - £68,053)

The impact of Covid-19 is not thought to impact on this years figures. The trustee will report on the impact next year.

True and fair override

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charities governing document , the Charity Act 2011 and the relevant version of 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 ).

RESERVES POLICY

The trustees intend to fully maintain the school. The reserves are held for future expenditure and expansion of the school.

FUTURE PLANS

The trustee's plans are to continue to collect donations to support the school.

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THE JEWISH DAY PRIMARY SCHOOL

REPORT OF THE TRUSTEES FOR THE YEAR ENDED

31 AUGUST 2020 Cont……

TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The charity trustees are responsible for preparing a trustees’ annual report and 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 the financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

  1. there is no relevant audit information to which the auditor is unaware :and 2. the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

Approved by the trustees on October 2021 and signed on their behalf by;

M HALPERN………………………………….

CHAIR OF TRUSTEES

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THE JEWISH DAY PRIMARY SCHOOL

(Registered Charity Number 526437)

Independent Auditors Report to the Trustees of the Jewish Day Primary School

Opinion

We have audited the financial statements of the Jewish Day Primary School for the year ended 30 September2020 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes and notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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

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:

Other Information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. if we identify such material inconsistencies or

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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.

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THE JEWISH DAY PRIMARY SCHOOL

(Registered Charity Number 526437)

Independent Auditors Report to the Trustees of the Jewish Day Primary School

Cont……

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual 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, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 7 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 they determine is necessary to enable the preparation of the financial statements that are free form material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditors responsibilities for the audit of the financial statements

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

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/auditorsresponsibilites. This description forms part of our auditor’s report.

Use of our report

The report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. 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 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

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Charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

B Olsberg & Co Statutory Auditors Enterprise House 3 Middleton Road Manchester M8 5DT October 2021

B Olsberg & Co is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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THE JEWISH DAY PRIMARY SCHOOL

Statement of Financial Activities for the year ended 31 August 2020

Notes
INCOME AND EXPENDITURE
£
Incoming Resources
Donations, Parental Contributions, Nursery
Voucher Receipts and sundries
Grants received Delapage
Furlough Scheme
Interest Received
Hire of Hall
Rental Income
Resources Expended
Direct Charitable Expenditure
Governance Costs
Accountancy and Audit
Total Resources Expended
Net Income Resources for the year
Contributions to Yesoday Hatorah Academy -
Current
Contributions to Yesoday Hatorah Academy -
Previous Year
Net movement in Funds
Balance Brought Forward
Balance Carried Forward		 Year Ended Year Ended
31 August
31 August
2020
2019
Unrestricted
Unrestricted

Funds
Funds
£
2
1,789,615
1,786,027
135,000
200,000
357,768
-
1,716
769
30,003
35,291
14,450
44,600
2,328,552
2,066,687
3
1,793,053
1,739,465
4
7,800
5,400
7,800
5,400
1,800,853
1,744,865
527,699
321,822

(282,334)
(68,053)

(78,000)
-
167,365
253,769
995,018
741,249
1,162,383
995,018
2
3
4

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 13 to 17 form part of these accounts

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THE JEWISH DAY PRIMARY SCHOOL

Balance Sheet as at 31 August 2020

£

Notes

Fixed Assets
Tangible Fixed assets
6
Investments
Current Assets
Debtors
7
Stock
Bank
Creditors: Payable within one year
8
Net Current Assets/(Liabilities)
TOTAL ASSETS LESS CURRENT
LIABILITIES
Creditors: due beyond one year
9
Net assets
REPRESENTED BY:
Permanent Endowment
Unrestricted Funds
Capital Grants		 2020

£
6,106,277
6,108,363
6,106,277
6,108,363
175,546
82,679
6,390
6,390
302,348
281,235
484,284
370,304
225,159
220,814
259,125
149,490
6,365,402
6,257,853
2,954,389
3,014,205
3,411,013
3,243,648
1,063,319
1,063,319
1,162,383
995,018
1,185,311
1,185,311
3,411,013
3,243,648		 2019

Approved by the trustees on October 2021 and signed on their behalf.

Trustee M Halpern The notes on page 13 to 17 form part of these accounts

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THE JEWISH DAY PRIMARY SCHOOL Consolidated Cashflow Statement

For the Year Ended 31 August 2020

Cash Flows from Operating Activities
Net movement in funds
(Increase)/Decrease in debtors
(Decrease) in creditors
Net cash (outfow)/infow from
operations
Net cash infow
Cash fows from Capital Purchase
Depreciation
(Decrease)/Increase in cash
Cash brought forward
Cash carried forward		 2020
2019
£
£
167,365
253,769
(92,867)
62,953
(55,471)
(252,569)
19,027
64,153
19,027
64,153
2,086
-
21,113
64,153
281,235
217,082
302,348
281,235

The notes on pages 13 to 17 form part of these accounts

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THE JEWISH DAY PRIMARY SCHOOL

Notes to the accounts

for the year ended 31 August 2020

1. Statement of compliance

The accounts have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with The Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) and the Charities Act 2011 and the U.K. Generally Accepted Accounting Practice.

The accounts 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 relevant version of the Statement of Recommended Practice to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS 102) rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn .

2. Accounting Policies

2.1 Basis of preparation of accounts

The trust constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

2.2 Tangible fixed assets for use by the charity and depreciation Tangible fixed assets for use by the charity are stated at cost or valuation less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Buildings Nil Other Fixed assets 20%

An assessment of the net realisable value of the properties has been undertaken. On the basis that the properties will be well maintained and such repair costs will be charged to the statement of financial activities, it is the view of the trustees that the

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net realisable value is as stated in the balance sheet. On the basis of the above no further depreciation charge is deemed necessary. An impairment review is carried out on an annual basis to assess whether the market value of the properties are at least as much as the carrying value in the accounts. Provision will be made for any permanent fall in value.

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THE JEWISH DAY PRIMARY SCHOOL

Notes to the accounts

for the year ended 31 August 2020

2.3 Incoming Resources

Contributions and donations are accounted for as received by the charity. No permanent endowments have been received in the year.

2.4 Resources Expended

These are included in the SOFA on an accruals basis.

Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.

2.5 Grants Receivable

Grants receivable in respect of capital expenditure or to cover revenue expenses paid are credited to the Statement of Financial Activities when the education authority agrees to reimburse them.

2.6 Management and administration expenditure

Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity or fund raising ventures. The only costs under this heading are audit and accountancy.

2.7 Taxation

The trust is registered as a charity by the HM Revenue & Customs and therefore benefits from certain exemptions from taxation on income and gains to the extent that they are applied for charitable purposes.

2.8 Fair Value

Debtors and Creditors are stated at fair value.

2.9 Fund Accounting

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of charity.

2.10 Judgments and key sources of Estimation

The preparation of the financial statements did not require management to make material judgements, estimates, or assumptions, that effect the amounts reported, except for the valuation of properties.

The valuation of the properties are updated to fair value based on information supplied by the Trustees.

2.11 Financial Instruments

A financial asset or a financial liability is recognized only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognized at the amount receivable or payable including any related transactions costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

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Basic financial instruments are recognized at amortized cost, except for investments in non-

convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognized in profit or loss.

THE JEWISH DAY PRIMARY SCHOOL

Notes to the accounts

for the year ended 31 August 2020 (Cont)

3. Direct charitable expenditure

2020

£		 2019
£
School running costs
Fuel
Salaries and Pension costs
Food and Canteen Expenses and Functions
Travel, Outings and Events
Repairs, Maintenance & Cleaning
Professional Fees
Rates and Water
Insurance
Printing, Postages, Stationery & Requisites
Bank Charges
Depreciation
Discretionary Grants - Covid		 1,552,781
1,449,754
14,939
22,619
5,238
9,475
55,815
33,280
15,236
23,407
(10,133)
34,334
10,347
9,791
25,711
38,999
111,333
117,806
2,086
-
9,700
-
1,793,053
1,739,465

4. Governance Costs

2020
 2019
£
£
Audit 5,500
 3,400
Accountancy 2,300
 2,000
7,800 5,400
5. Staf Costs
No remuneration was paid to trustees in the year, nor were any trustees’
expenses reimbursed. The staf costs were:
2020
 2019
£ £
Total staf costs 1,552,781
1,449,754

The average weekly number of staff employed by the charity during this

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year was as follows:

2020

2019

161

Teachers and Secretaries 155

No member of staff received a salary in excess of £50,000

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THE JEWISH DAY PRIMARY SCHOOL Notes to the accounts for the year ended 31 August 2020 (Cont)

6. Tangible fixed assets for use by the Charity & its associated Academy

TOTAL
As at 1 September
2019
Additions
Disposals
As at 31 August 2020
Depreciation
As at 1 September
2019
Charge
Disposals
As at 31 August 2020
As at 31 August 2020
As at 1 September
2019
Land &

Buildings

At Valuation
£
5,894,080
-
-		 Equipment Library
Fixtures & Books &
Fittings, etc
Furniture

At Cost
At Cost

£
£ £
60,312
223,868
6,178,2
60
-
-
-
-
-
-
60,312
223,868
6,178,2
60
49,880
-
69,897
2,086
44,773
46,859
-
-
-
51,966
44,773
116,756
8,346
179,095
6,061,5
04
10,432
223,868
6,108,3
63
5,894,080 60,312
223,868
20,017
-
-		 49,880
-
2,086
44,773
-
-
20,017 51,966
44,773
5,874,063 8,346
179,095
5,874,063 10,432
223,868

12. Related Parties

There were no related party transactions other than the payments made to the Yesoiday Hatorah Academy in the sum of £360,334

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