REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
Hertsmere Jewish Primary School Trust |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements for the Year Ended 31 August 2023 |
for |
Hertsmere Jewish Primary School Trust |
Hertsmere Jewish Primary School Trust |
Contents of the Financial Statements |
for the Year Ended 31 August 2023 |
Page |
Report of the Trustees | 1 | to | 2 |
Independent Examiner's Report | 3 |
Statement of Financial Activities | 4 |
Balance Sheet | 5 | to | 6 |
Notes to the Financial Statements | 7 | to | 13 |
Hertsmere Jewish Primary School Trust (Registered number: 03323105) |
Report of the Trustees |
for the Year Ended 31 August 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. 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). |
References to "the Charity" in the report and financial statements relate to Hertsmere Primary School Trust. |
References to "the School" refer to Hertsmere Jewish Primary School (the voluntary aided state primary school). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objects of the Charity are as follows: |
(i) The advancement of religious and secular education in regard to the School and its pupils; |
(ii) To advance the Jewish religion, to relieve poverty or for any charitable purpose beneficial to the |
community by the provision of facilities or otherwise as the Board shall from time to time |
determine. |
Significant activities |
The principal activity of the Charity is that of the advancement of religious and secular education in regard to the School and its pupils. During the year further enhancements and improvements were made to the school and the Charity continued to provide the school with grants to enable the school to continue to provide excellent teaching and facilities. |
Public benefit |
The principal activities of the charity during the year continued to be to advance education. The trustees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 17 Charities Act 2011. The trustees believe that the charity achieves a public benefit by providing educational services as detailed elsewhere in this report. |
Grantmaking |
The Charity makes a contribution to the costs of religious and secular education expended by the School including associated overheads and educational resources. |
FINANCIAL REVIEW |
Reserves policy |
The current level of free reserves, being the unrestricted funds not committed or invested in tangible fixed assets, is £183,732 (2021: £193,422). Having regard to the future development of the School, the Directors have set a target level of free reserves of £375,000 which equates to approximately 12 months of resources expended. This will enable the Charity to continue its current activities and allow it to respond quickly in the event of an emergency. They intend to continue their fundraising efforts with a view to achieving the target level so that the Charity will be well placed to respond to the needs of the School. The reserves policy is reviewed annually. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
Hertsmere Jewish Primary School Trust (Registered number: 03323105) |
Report of the Trustees |
for the Year Ended 31 August 2023 |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
The Board of Directors of the Charity is a self appointed body. The Directors of the Charity also act as Custodian Trustees for the Charity. |
Following an inadequate Offset inspection in January 2019 the School was brokered to a sponsor academy by the Department for Education. On 1 October 2019, they transferred from Hertfordshire Local Authority control to become part of the Jewish Community Academy Trust, a Multi Academy Trust. The day to day running of the School, including those activities which are funded by the Charity, are delegated to the Head Teacher. Its activities are monitored by a Board of Trustees. |
Independent Examiner |
Two Rivers Accountancy |
38 Eton Wick Road |
Eton Wick |
Windsor |
Berkshire |
SL4 6JL |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
Hertsmere Jewish Primary School Trust |
Independent examiner's report to the trustees of Hertsmere Jewish Primary School Trust ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2023. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
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. |
Delia Allott |
The Association of Chartered Certified Accountants |
Two Rivers Accountancy |
38 Eton Wick Road |
Eton Wick |
Windsor |
Berkshire |
SL4 6JL |
12 March 2024 |
Hertsmere Jewish Primary School Trust |
Statement of Financial Activities |
for the Year Ended 31 August 2023 |
31.8.23 | 31.8.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income | 2 |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 2,640,599 |
Hertsmere Jewish Primary School Trust (Registered number: 03323105) |
Balance Sheet |
31 August 2023 |
31.8.23 | 31.8.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 9 |
Unrestricted funds | 2,578,385 |
Restricted funds | 62,214 |
TOTAL FUNDS | 2,640,599 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
Hertsmere Jewish Primary School Trust (Registered number: 03323105) |
Balance Sheet - continued |
31 August 2023 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements |
for the Year Ended 31 August 2023 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities 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. |
Grants made by the Charity to the School to support the costs the School incurs in respect of religious and secular education are regarded as costs in furtherance of the Charity's objects. |
Grants payable in both the current and preceding period relate to payments to fund costs incurred by the School in connection with religious and secular education, the majority of which related to staff costs. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold property | - |
Fixtures and fittings | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
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. |
2. | INVESTMENT INCOME |
31.8.23 | 31.8.22 |
£ | £ |
Deposit account interest |
3. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.8.23 | 31.8.22 |
£ | £ |
Depreciation - owned assets |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Investment income |
Total |
EXPENDITURE ON |
Charitable activities |
Other |
Total |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 2,668,083 | 96,878 |
TOTAL FUNDS CARRIED FORWARD |
2,578,385 |
62,214 |
2,640,599 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 September 2022 and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Other debtors |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Accrued expenses |
9. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.9.22 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 183,732 | 4,921 | 188,653 |
Designated | 2,394,653 | (79,952 | ) | 2,314,701 |
(75,031 | ) |
Restricted funds |
Future Development Fund | 62,214 | - | 62,214 |
TOTAL FUNDS | (75,031 | ) | 2,565,568 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 220,193 | (215,272 | ) | 4,921 |
Designated | - | (79,952 | ) | (79,952 | ) |
( |
) | (75,031 | ) |
TOTAL FUNDS | ( |
) | (75,031 | ) |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
9. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.22 |
£ | £ | £ |
Unrestricted funds |
General fund | 193,422 | (9,690 | ) | 183,732 |
Designated | 2,474,661 | (80,008 | ) | 2,394,653 |
2,668,083 | (89,698 | ) | 2,578,385 |
Restricted funds |
Devolved Formula Capital Fund |
34,664 |
(34,664 |
) |
- |
Future Development Fund | 62,214 | - | 62,214 |
96,878 | (34,664 | ) | 62,214 |
TOTAL FUNDS | 2,764,961 | (124,362 | ) | 2,640,599 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 292,439 | (302,129 | ) | (9,690 | ) |
Designated | - | (80,008 | ) | (80,008 | ) |
292,439 | (382,137 | ) | (89,698 | ) |
Restricted funds |
Devolved Formula Capital Fund |
- |
(34,664 |
) |
(34,664 |
) |
TOTAL FUNDS | 292,439 | (416,801 | ) | (124,362 | ) |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
9. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.9.21 | in funds | 31.8.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 193,422 | (4,769 | ) | 188,653 |
Designated | 2,474,661 | (159,960 | ) | 2,314,701 |
2,668,083 | (164,729 | ) | 2,503,354 |
Restricted funds |
Devolved Formula Capital Fund |
34,664 |
(34,664 |
) |
- |
Future Development Fund | 62,214 | - | 62,214 |
96,878 | (34,664 | ) | 62,214 |
TOTAL FUNDS | 2,764,961 | (199,393 | ) | 2,565,568 |
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 | 512,632 | (517,401 | ) | (4,769 | ) |
Designated | - | (159,960 | ) | (159,960 | ) |
512,632 | (677,361 | ) | (164,729 | ) |
Restricted funds |
Devolved Formula Capital Fund |
- |
(34,664 |
) |
(34,664 |
) |
TOTAL FUNDS | 512,632 | (712,025 | ) | (199,393 | ) |
The fixed assets have been designated as the Trust has granted the Hertsmere Jewish Primary School unrestricted use of the property and assets for as long as the School is in operation in accordance with the Trust's objectives. |
The future development fund was raised in anticipation of the school being further developed and therefore could be used to cover such items as physical building costs, legal and professional costs associated with planning for future development or fundraising specifically for future development. |
Hertsmere Jewish Primary School Trust |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2023 |
9. | MOVEMENT IN FUNDS - continued |
The devolved formula capital fund consists of funds received from the Department for children, schools and families to be used by the School for capital purposes i.e. for the building or for equipment. This fund was spent during the year. |
10. | RELATED PARTY DISCLOSURES |