The Trustees present their annual report together with the audited financial statements of Beit Shvidler Primary School Charitable Trust for the year ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).
The objects of Beit Shvidler Primary School Charitable Trust (the ‘Trust’) are the advancement of education by the conduct of a school or schools and by ancillary educational activities for the benefit of the Orthodox Jewish community. The Trustees have considered the requirements of the Charities Act 2011 and have satisfied themselves that they have complied with their duty to have regard to the Public Benefit guidance published by the Charity Commission.
The Trust advances its objects through its financial support for Orthodox Jewish schools. The Trust continues to support Beit Shvidler Primary School (BSPS, 'the School'), a co-educational Orthodox Jewish primary school for children aged three to eleven, whose families are committed to Shabbos, Kashrus, community involvement, ongoing learning and religious growth. The School is one of a network under the Jewish Secondary Schools Movement (JSSM) umbrella, and is associated with the Edgware Adath Yisroel Congregation (EAYC). The Trustees all give of their time and experience voluntarily.
The Trust continues to perform in line with trustees’ expectations. Despite the continued economic challenges brought about by the cost of living crisis, the Trust has continued to see strong support from the School’s parent body and wider community to support ongoing fundraising activity.
The primary recipient of the Trust's grants, Beit Shvidler Primary School, continues to display strong progress under the able leadership of its head teacher and the senior leadership team. The Trustees continue to see the positive findings from the October 2024 ‘Good’ Ofsted and the June 2023 ‘Outstanding’ Pikuach being reflected in the performance of the school:
Beit Shvidler is an outstanding school where pupils benefit from a warm and caring atmosphere. Pupils learn in a positive environment, allowing them to focus on their Jewish learning in an atmosphere of respect and inclusion, irrespective of their background, gender, religiosity, and culture
Pupils benefit from being educated in a school where there is a clear ethos and vision which is disseminated by the school leadership to all staff
Pupils gain from being in a school where there is a clear behaviour policy that is implemented by all staff
The school is happy place where pupils care about the school and each other
Pupils regularly volunteer to improve the school environment
The school has high expectation for pupils' academic achievement. Pupils achieve these expectations regularly. This is reflected in their high attainment in reading, writing and mathematics that are tested and assessed nationally. The school encourages pupils to do their best
The governing body and leaders work together to ensure that pupils can learn and are safe. Leaders and the governing body take staff views into account on matters that may impact workload or their well-being. Leaders and the governing body make appropriate decisions and lead the school well
The school places high importance on pupils’ personal development. This is because it wants pupils to make a positive impact on the world when they get older
The school has a broad and well-organised curriculum in place. Important knowledge and skills are logically sequenced from the early years onwards
The school makes effective adaptations to the way subjects are delivered for pupils with special educational needs and/or disabilities (SEND). Early on, the school recognises if a pupil has SEND. The school utilises the expertise of therapists and other external experts to support pupils and the teaching they receive. This helps pupils with SEND to learn well. The school’s high national assessment results reflect the strong learning and teaching pupils receive.
The details of the Trust's financial activities are set out in the Statement of Financial Activities, Balance Sheet, and associated notes starting on page 5 of these accounts. The Trust's total funds at the year end were considered acceptable by the Trust. At the year end the charity had a surplus on its free reserves totalling £74,605 (2023: £79,143).
The principal risk and uncertainty for the Trust relates to the level of donations and grant income it will benefit from in future periods. This is partly driven by the broader economic environment and partly by donors' balance of priorities between this and other recipients of their donations and grants. These are the key factors that are likely to affect the future financial performance of the Trust. To monitor and manage these risks, the Trustees review the Trust's financial performance and grant pipeline on a regular basis, and if necessary, adapt its grant-making activity accordingly.
Plans for future periods
The Trust intends to continue advancing its objects in future periods. The trustees continue to focus on fundraising to support these objects. Trustees are also focused on sustaining and strengthening the Trust's free reserves through a combination of fundraising and careful management of reserves and grant-making activity. In September 2024, the Trust ran a successful fundraising event which raised around £350,000. These funds will be used to replenish the reserves of the trust, and to support the school in a number of strategic capital projects.
The Trust is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 29 September 2006. It is a registered charity, number 1118619.
Trustees are appointed by the JSSM trustees. Trustees are appointed for an initial term of four years and may be re-appointed for a second term and, exceptionally, a third term.
The trustees during the year were:
New trustees are introduced to the objects of the charity by the Chair and Treasurer, and to their responsibilities as a trustee. Trustees at all times act in the best interests of the charity. Trustees are required to recognise and deal appropriately with conflicts of interest, recognising that even the perception of a conflict of interest could damage the Trust’s reputation. It is the policy of the Trust that no trustees receive any remuneration from the Trust.
Trustees are responsible for acting collectively to ensure the proper administration of the charity, safeguarding its assets, and ensuring these are only used to further the Trust's objects. Decisions are made by consensus of the Trustees. In relation to financial decisions, trustees receive briefing on the financial assets of the Trust on a regular basis – at least three times each year.
Risk Management
The trustees focus primarily on financial and reputational risks to the Trust. In relation to financial risks, the Trust aims to maintain at minimum total funds of £40,000. In relation to reputational risks, trustees consider the arrangements for safeguarding and pupil welfare at a school applying for a grant – amongst other factors – before concluding on whether to make a grant. The trustees are also mindful of conflicts of interests as noted above.
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Beit Shvidler Primary School Charitable Trust (the charity) for the year ended 31 August 2024.
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW) , which is one of the listed bodies.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements 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
the financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Beit Shvidler Primary School Charitable Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is 325-327 Oldfield Lane North, Greenford, Middx, UB6 OFX.
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements are prepared on the going concern basis. The trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future due to a successful post-year end fundraising campaign. Nevertheless, the trustees have made aware the principal organisation to which it makes donations that the charity's ability to financially support that organisation is dependent on the charity's own ability to continue as a going concern.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants are included in the statement of financial activities on receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.
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 are allocated on the portion of the asset’s use.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Grants
Hall hire
Summer camp income
Donations to Beit Shvidler Primary School
Sundries
Summer Camps
Raising funds
Fundraising
Hall hire expenses
None of the trustees (or any persons connected with them) received any remuneration, reimbursement of expenses or benefits from the charity during the year.
The average monthly number of employees during the year was:
Donations refunded
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Cash at bank also includes £35,076 (2023: £27,891) held in a restricted fund, relating to capital grants received.
During the year the charity entered into the following transactions with related parties:
Creditors include an amount of £175,057 (2023: £175,057) due to The Jewish Secondary Schools Movement, which owns the premises, used rent free by the school.
During the year, the charity received donations totalling £51,233 (2023: £16,037) from the Trustees.
The ultimate parent undertaking and controlling party is The Jewish Secondary Schools Movement, charity registration number 313109.