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||Page|
|---|---|
|Reference and administrative details of the Charity, its Trustee and advisers|1|
|Trustee’s report|2- 8|
|Independent auditor’s report on the financial statements|9-12|
|Consolidated statement offinancial activities|13|
|Consolidated balance sheet|14-15|
|Charity balance sheet|16- 17|
|Consolidated statement of cash flows|18|
|Notes to the financial statements|19-47|





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|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2022|2022|2022|2021|
||Note|£|£|£|£|
|Income from:||||||
|Donations and legacies|3|83,512|817,419|900,931|1,035,102|
|Charitable activities|4|7,488,633|1,158,647|8,647,280|8,117,173|
|Other trading activities|5|-|698,353|698,353|269,152|
|Investments|6|-|3,164|3,164|483|
|Total income||7,572,145|2,677,583|10,249,728|9421910|
|Expenditure on:||||||
|Charitable activities|7|6,145,787|4,339,793|10,485,580|9976,703|
|Total expenditure||6,145,787|4,339,793|10,485,580|9,976,703|
|Net incomel(expenditure) before net||||||
|losses on investments||1,426,358|(1,662,210)|(235,852)|(554,793)|
|Net losses on investments||-|(278)|(278)|(946)|
|Net movement in funds before other||||||
|recognised gains/(losses)||1,426,358|(1,662,488)|(236,130)|(555,739)|
|Other recognised gainsl(losses):||||||
|Actuarial gains/(losses) on defined||||||
|benefit pension schemes|24|2,589,000|-|2,589,000|(249,000)|
|Net movement in funds||4,015,358|(1,662,488)|2,352,870|(804,739)|
|Reconciliation of funds:||||||
|Total funds brought forward||20,315,668|2,847,259|23,182,927|23.967,666|
|Net movement in funds||4,015,358|(1,662,488)|2,352,870|(804,739)|
|Total funds carried forward||24,331,026|1,184,771|25,515,797|23,16Z927|





## 

||CONSOLIDATED BALANCE SHEET|CONSOLIDATED BALANCE SHEET|CONSOLIDATED BALANCE SHEET|||
|---|---|---|---|---|---|
|||AS AT 31|AUGUST 2022|||
||||2022||2021|
|||Note|£||£|
|Fixed assets||||||
|Tangible assets||12|25,051,230||25386,281|
|Investments||13|10,726||11,004|
||||25,061,956||25.397,285|
|Current assets||||||
|Stocks||14|9,143|8,597||
|Debtors||15|462,862|341,390||
|Cash at bank and in hand|||1,402,883|1.055,791||
||||1,874,888|1.405,778||
|Creditors: amounts falling due within|one|||||
|year||16|(1,060,128)|(966,386)||
|Net current assets|||814,760||439,392|
|Total assets less current liabilities|||25,876,716||25836,677|
|Creditors: amounts falling due after more||||||
|than one year||17|(360,919)||(429,750)|
|Net assets excluding pension asset)||||||
|liability|||25,515,797||25,406,927|
|Defined benefit pension scheme asset /||||||
|liability||24|-||(2,244,000)|
|Total net assets|||25,515,797||23,162,927|
|Charity funds||||||
|Restricted funds.||||||
|Restricted funds excluding pension asset||19|24,331,026|22,559,668||
|Pension reserve||19|-|(2,244:000)||
|Total restricted funds||19|24,331,026||20,315,668|
|Unrestricted funds||19|1,184,771||2,847,259|
|Total funds|||25,515,797||23.162.927|





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||||2022||2021|
|---|---|---|---|---|---|
||Note||£||£|
|Fixed assets||||||
|Tangible assets|12||21,241,048||21.805,743|
|Investments|13||10,726||11,004|
||||21,251,774||21,816,747|
|Current assets||||||
|Stocks|14|9,143||8,597||
|Debtors|15|195601||128,466||
|Cash at bank and in hand||650,293||326.099||
|||855,037||463.162||
|Creditors: amounts falling due within one||||||
|year|16|(600,944)||(488,800)||
|Net current assets/ liabilites|||254,093||(25,638)|
|Total assets less current liabilities|||21,505,867||21,791,109|
|Creditors: amounts falling due after more||||||
|than one year|17||(360,919)||(429,750)|
|Net assets excluding pension asset|||21,144,948||21,361,359|
|Total net assets|||21,144,948||21.361,359|
|Charity funds||||||
|Restricted funds|19||19,960,177||20.524,868|
|Unrestricted funds|19||1,184,771||836,491|
|Totalfunds|||21,144,948||21,361.359|





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||Restricted|Unrestricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2022|2022|2022|
||£|£|£|
|Donations & grants|83,512|6,195|89,707|
|Parental voluntary contributions|-|703328|703,328|
|Gift aid|-|107,896|107,896|
||83,512|817,419|900,931|
||Restricted|Unrestricted|Total|
||funds|funds|funds|
||2021|2021|2021|
||£|£|£|
|Donations & grants|15,318|62,159|77,477|
|Parental voluntary contributions|-|831,506|831,506|
|Tax refund|-|126,119|126,119|
||15,318|1,019,784|1,035,102|



## 

|||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2022|2022|2022|
|||||£|£|£|
|Operation|of|the|schools|7,488,633|1,158,647|8,647,280|
|||||Restr/cted|Unrestricted|Total|
|||||funds|funds|funds|
|||||2021|2021|2021|
|||||£|£|£|
|Operation|of|the|schools|7,239,467|877,706|8,117,173|





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||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2022|2022|
||£|£|
|Other fundraising activities|698353|698,353|
||Unrestricted|Total|
||funds|funds|
||2021|2021|
||£|£|
|Income from gala dinner|4,162|4,162|
|Other fundraising activities|264,990|264,990|
||269,152|269,152|



## 

|Unrestricted|Total|
|---|---|
|funds|funds|
|2022|2022|
|£|£|
|3,164|3,164|



|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||£|£|
|Investment|income|483|483|





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||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2022|
||||£|£|£|
|Operation|ofthe|school|6,145,787|4,339,793|10,485,580|
||||Restricted|Unrestricted|Total|
||||funds|funds|funds|
||||2021|2021|2021|
||||£|£|£|
|Operation|ofthe|school|7,336,598|2,640,105|9,976,703|



||||Activities|||
|---|---|---|---|---|---|
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2022|2022|2022|
||||£|£|£|
|Operation|ofthe|school|7,326,081|3,159,499|10,485,580|
||||Activities|||
||||undertaken|Support|Total|
||||directly|costs|funds|
||||2021|2021|2021|
||||£|£|£|
|Operation|ofthe|school|6,902,502|3,074,201|9,976,703|





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||Operation||
|---|---|---|
||of the|Total|
||school|funds|
||2022|2022|
||£|£|
|Staff costs|5,837,861|5,837,861|
|Educational materials|559,402|559,402|
|Food & meal costs|534,207|534,207|
|Trips|339,331|339,331|
|Travel costs|274|274|
|Teacher training|43,958|43,958|
|Other direct costs|11,048|11048|
||7,326,081|7,326,081|
||Operation ol|Total|
||the school|ñinds|
||2021|2021|
||£|£|
|Staff costs|5.743,241|5:743,241|
|Educational materials|602,294|602.294|
|Food & meal costs|476,653|476,653|
|Trips|32597|32,597|
|Travel costs|719|719|
|Bus donations|27,785|27,785|
|Teacher training|9,416|9,416|
|Other direct costs|9, 797|9,797|
||6.902,502|6.90Z502|





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||Operation||
|---|---|---|
||ofthe|Total|
||school|funds|
||2022|2022|
||£|£|
|Staff costs|652,650|652,650|
|Depreciation|665304|665,304|
|Governance|35,333|35,333|
|Security and transport|298728|298,728|
|Repair costs|55,045|55,045|
|Light & heat|197,125|197,125|
|Loan interest|7,096|7,096|
|Cleaning|125,098|125,098|
|Printing, postage and stationery|25,759|25,759|
|Bank charges and interest|8,957|8,957|
|Insurance|87,885|87,885|
|Sundries|71,617|71,617|
|Telephone|6,142|6,142|
|Recharge of expenses|741,405|741,405|
|Legal and professional fees|181,355|181,355|
||3.159499|3,159499|





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|Analysis of support costs (continued)|||
|---|---|---|
||Operation of|Total|
||the school|funds|
||2021|2021|
||£|£|
|Staff costs|492, 122|492, 122|
|Depreciation|629,972|629972|
|Governance|45,958|45,958|
|Security and transport|541,870|541.870|
|Repair costs|93,296|93,296|
|Light & heat|155, 127|155, 127|
|Loan interest|6.560|6.560|
|Cleaning|253,099|253.099|
|Printing, postage and stationery|26,257|26,257|
|Bank charges and interest|(41,193)|(41,193)|
|Insurance|83,085|83,085|
|Sundries|70,997|70,997|
|Telephone|21,606|21,606|
|Recharge ofexpenses|572,898|572,898|
|Legal and professional tees|122,547|122,547|
||3.074,201|3,074,201|



|9.|Auditors remuneration|||
|---|---|---|---|
|||2022|2021|
|||£|£|
||Fees payable to the Group’s auditorfor the audit ofthe Group’s<br>consolidated financial statements.|25,000|23,000|





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||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022|2021|2022|2021|
||£|£|£|£|
|Wages and salaries|4,923,380|4.851,143|583,963|494.054|
|Social security costs|428,077|399294|-|-|
|Contribution to defined contribution pension|||||
|schemes|1,139,054|984,926|13,202|12259|
||6,490,511|6.235,363|597,165|506.313|



||Group|Group|
|---|---|---|
||2022|2021|
||No.|No.|
|Teaching|96|96|
|Educational Support|53|48|
|Administration|5|6|
|Premises|3|3|
|Management|5|3|
|LAJSLA|5|5|
||167|161|



||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||No.|No.|
|In|the|band|£60,001|-£70,000|1|2|
|In|the|band|£70,001|-£80,000|2|1|





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||Freehold|Motor|Fixtures|Computer|Assets under||
|---|---|---|---|---|---|---|
||property|vehicles|and fittings|equipment|construction|Total|
||£|£|£|£|£|£|
|Cost orvaluation|||||||
|At 1 September|||||||
|2021|29,044,454|56,175|754,069|433,660|2,177,564|32,465,922|
|Additions|-|-|-|-|330,257|330,257|
|Transfers between|||||||
|classes|2,322,725|-|-|-|(2,322,725)|-|
|At 31 August 2022|31,367,179|56,175|754,069|433,660|185,096|32,796,179|
|Depreciation|||||||
|At 1 September|||||||
|2021|6,019,781|38,446|668,219|353,195|-|7,079,641|
|Charge forthe year|622,922|3,799|12,881|25,706|-|665,308|
|At 31 August 2022|6,642,703|42,245|681,100|378,901|-|7,744,949|
|Net book value|||||||
|At 31 August 2022|24,724,476|13,930|72,969|54,759|185,096|25,051,230|
|A13l August2021|23,024,673|17729|85,650|80.465|Z177,564|25,386,281|





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||Freehold|Fixtures and|Computer||
|---|---|---|---|---|
||property|fittings|equipment|Total|
||£|£|£|£|
|Cost or valuation|||||
|At 1 September2021|27,590,718|498,337|5,130|28,094,185|
|At 31 August 2022|27,590,718|498,337|5,130|28,094,185|
|Depreciation|||||
|At 1 September2021|5,870,825|412,487|5,130|6288,442|
|Charge forthe year|551,814|12,881|-|564,695|
|At 31 August 2022|6,422.639|425,368|5,130|6,853,137|
|Net book value|||||
|At 31 August 2022|21,168,079|72,969|-|21,241,048|
|At3lAtsgust 2021|21.719893|85.850|-|21.805743|





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||Investments|
|---|---|
|Group and Charity|£|
|Cost orvaluation||
|At 1 September2021|10,448|
|Revaluations|278|
|At 31 August 2022|10,726|



## 

|||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|
|||||||2022|2021|2022|2021|
|||||||£|£|£|£|
|Finished|goods|and|goods|for|resale|9,143|8,597|9,143|8,597|



## 

||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022|2021|2022|2021|
||£|£|£|£|
|Due within one year|||||
|Trade debtors|23,964|19,804|23,964|19,804|
|Amounts owed by group undertakings|-|1,594|-|1,594|
|Amounts owed by King David Resources|||||
|Limited|-|10,155|-|10,155|
|Other debtors|64,484|119,617|30,789|63,915|
|Prepayments and accrued income|374,414|190,220|140,848|32,998|
||462,862|341,390|195,601|128,466|





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||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022|2021|2022|2021|
||£|£|£|£|
|Bankoverdrafts|387632|306,179|387,632|306.179|
|Bank loans|76,504|66,773|76,504|66,773|
|Trade creditors|167,940|I70,630|100,750|15,725|
|Amounts owed to group undertakings|43|3,764|43|3.764|
|Othertaxation and social security|8,401|7.976|8,401|7,978|
|Other creditors|126,411|5,623|5880|5,615|
|Accruals and deferred income|293,197|403,439|21,734|80,766|
||1,060,128|966,386|600,944|486800|
||Group|Group|Charity|CharIty|
||2022|2021|2022|2021|
||£|£|£|£|
|Deferred income at 1 September2021|91,875|127,281|48,445|88,120|
|Resources deferred during the year|189,942|91,875|147,950|46.445|
|Amounts released from previous periods|(91,875)|(131,550)|(48,445)|(88,120)|
||189,942|87,606|147,950|46,445|





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||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022|2021|2022|2021|
||£|£|£|£|
|Bank loans|75,302|144,133|75,302|144,133|
|Other loans|285,617|285,617|285,617|285,617|
||360,919|429,750|360,919|429,750|
|Included within the above are amounts falling due as follows:|||||
||Group|Group|Charity|Charity|
||2022|2021|2022|2021|
||£|£|£|£|
|Between one and two years|||||
|Bank loans|75,302|70,308|75,302|70,308|
|Other loans|285,617|285,617|285,617|285,617|
|Between two and five years|||||
|Bank loans|-|73,825|-|73,825|





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||Group|Group|Charity|Charity|
|---|---|---|---|---|
||2022|2021|2022|2021|
||£|£|£|£|
|Financial assets|||||
|Financial assets measured at amortised cost|1,402,883|1,055,791|650,293|326,099|
||Group|Group|Charity|Charity|
||2022|2021|2022|2021|
||£|£|£|£|
|Financial liabilities|||||
|Financial liabilities measured at amortised|||||
|cost|1.412,646|1388,158|953,462|918550|





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|Statement offunds - current|year|||||
|---|---|---|---|---|---|
||Balance at I||||Balance at|
||September|||Gains!|31 August|
||2021|Income|Expenditure|(Losses)|2022|
||£|£|£|£|£|
|Unrestricted funds||||||
|General Funds<br>- all funds|2,847,259|2,668,024|(4,330,234)|(278)|1,184,771|
|Restricted funds||||||
|Academyfunds|2,031,771|7,298,128|(4,959,050)|-|4,370,849|
|Donations|-|83,512|(83,512)|-|-|
|SEN income|-|130,917|(130,917)|-|-|
|Nursery grant|-|59,588|(59,588)|-|-|
|Junior school prize fund|669|-|(669)|-|-|
|High school prize fund|205|-|(205)|-|-|
|Yavneh prize fund|2,155|-|(2,155)|-|-|
|Grant of buildings and fixtures||||||
|from BSF|20,524,868|-|(564,691)|-|19,960,177|
|Pension reserve|(2,244,000)|-|(345,000)|2,589,000|-|
||20,315,668|7,572,145|(6,145,787)|2,589,000|24,331,026|
|Total offunds|23,162,927|10,240,169|(10,476,021)|2,588,722|25,515,797|





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|Statement offunds<br>- Group<br>-|prior year|||||
|---|---|---|---|---|---|
||Balance at||||Balance at|
||1 September<br>2020|Income|Expenditure|Gains)<br>(Losses)|31 August<br>2021|
||£|£|£|£|£|
|Unrestrictedfunds||||||
|General Funds<br>- all funds|3,321,185|2,167,125|(2,640,105)|(946)|2,847259|
|Restricted funds||||||
|Academy funds|1,319,621|7.092,190|(6,360,040)|-|2.031.771|
|Donations|-|15.318|(15.318)|-|-|
|SEN income|-|76,461|(76,461)|-|-|
|Nursery grant|-|70,816|(70,816)|-|-|
|Junior school prize fund|669|-|-|-|669|
|High school prize fund|205|-|-|-|205|
|Yavneh prize fund|2,155|-|-|-|2,155|
|Grant of buildings and fixtures||||||
|from BSF|21,091,831|-|(566,963)|-|20,524,868|
|Pension reserve|(1,768,000)|-|(227,000)|(249.000)|(2,244,000)|
||20,646,481|7.254,785|(7,336,598)|(249,000)|20,315,668|
|Total offunds|23,967,666|9.421,910|(9,976,703)|(249,946)|23,162,927|





## 

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## 

|Analysis of net assets between funds|- current year||||
|---|---|---|---|---|
|||Restricted|Unrestricted|Total|
|||funds|funds|funds|
|||2022|2022|2022|
|||£|£|£|
|Tangible fixed assets||23,770359|1,280,871|25,051,230|
|Fixed asset investments||-|10,726|10,726|
|Current assets||1,019,851|855,037|1,874,888|
|Creditors due within one year||(459,184)|(600,944)|(1,060,128)|
|Creditors due in more than one year||-|(360,919)|(360,919)|
|Total||24,331,026|1,184,771|25,515,797|
|Analysis of net assets between funds|- prior year||||
|||Restricted|Unrestricted|Total|
|||funds|funds|ñinds|
|||2021|2021|2021|
|||£|£|£|
|Tangible fixed assets||20,315,668|5,070,621|25,386,289|
|Fixed asset investments||-|11,004|11,004|
|Currentassets||-|1,405,778|1,405,778|
|Creditors due within one year||-|(966,386)|(966,386)|
|Creditors due in more than one year||-|(429,750)|(429,750)|
|Provisions for liabilities and charges||-|(2,244,000)|(2,244,000)|
|Total||20,315,668|2,847,267|23,162,935|





## 

## 

||Group|Group|
|---|---|---|
||2022|2021|
||£|£|
|Net expenditure for the year (as per Statement of Financial Activities)|(236,130)|(555,739)|
|Adjustments for:|||
|Depreciation charges|665,308|629,971|
|Losses on investments<br>Increase in stocks<br>Decreas&(increase) in debtors|(278)<br>(546)<br>(121,476)|(946)<br>(4.531)<br>246,498|
|lncrease/(decrease) in creditors|12,214|(292,093)|
|LGPS pension movement|345,000|249.000|
|Net cash provided by operating activities|664,092|272,160|



||Group|Group|
|---|---|---|
||2022|2021|
||£|£|
|Cash in hand|1,402,883|1055,791|
|Overdraft facility repayable on demand|(387,632)|(306,178)|
|Total cash and cash equivalents|1,015,251|749,613|



## 

||At 1|||
|---|---|---|---|
||September||At 31|
||2021|Cash flows|August 2022|
|Cash at bank and in hand|£<br>1,055,791|£<br>347,092|£<br>1,402,883|
|Bank overdrafts repayable on demand|(306,179)|(81,453)|(387,632)|
|Loan due within 1 year<br>Loans due after 1 year|(68,773)<br>(429,750)|(7,731)<br>68,831|(76,504)<br>(360,919)|
||251,089|326,739|577,828|





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||At31|4(3lAugust|
|---|---|---|
||August2022|2021|
||%|%|
|Discount rate|4.25|1.65|
|Rate of increase in salaries|3.8|3.65|
|Rate of increase for pensions in payment1inflation|3.05|29|



||At31|At3lAugust|
|---|---|---|
||August 2022|2021|
||Years|Years|
|Mortality rates (in years)|||
|- for a male aged 65 now|20.3|20.5|
|- at 65 for a male aged 45 now|21.6|21.9|
|- for a female aged 65 now|23.2|23.3|
|- at 65 for a female aged 45 now|25.1|25.3|





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## 

||At 31|At 31 August|
|---|---|---|
||August2022|2021|
||£|£|
|Equities|3,038,760|2981,290|
|Guts|618,560|421,450|
|Property|396,360|293.930|
|Cash and other liquid assets|352,320|502330|
|Total fair value ofassets|4,404,000|4,199,000|



||2022|2021|
|---|---|---|
||£|£|
|Current service cost|236,000|177,000|
|Interest cost|110,000|91,000|
|Net interest|39,000|14000|
|Total amount recognised in the Consolidated Statement of Financial|||
|Activities|386,000|282.000|
|Movements in the present value of the defined benefit obligation were as follows:|||
|||2022|
|||£|
|Opening defined benefit obligation||6,443,000|
|Actuarial (losses)/gains||(2,802,000)|
|Benefits paid||(58,000)|
|Current service costs||462,000|
|Interest cost||110,000|
|Employee contributions||49,000|
|Closing defined benefit obligation||4,404,000|





## 

## 

## 

||Group|Group|
|---|---|---|
||2022|2021|
||£|£|
|Not later than 1 year|11,187|25,699|
|Later than 1 year and not later than 5 years|19,939|343|
||31,126|26,042|





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