REGISTERED COMPANY NUMBER: 07035874 (England and Wales)

REGISTERED CHARITY NUMBER: 1135287

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

BNEI ZION COMMUNITY NURSERY LIMITED

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Statement of Financial Position

5

to

6

Statement of Cash Flows

7

Notes to the Statement of Cash Flows

8

Notes to the Financial Statements

9

to

14

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 October 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are:

a) the advancement of the Orthodox Jewish religion,

b) the advancement of Orthodox Jewish religious education and education generally,

c) the relief of poverty, sickness and distress, and

d) the promotion of good health and provision of recreational facilities in the interest of social welfare with the object of improving life conditions.

The trustees have considered the Charity Commission's general guidance on public benefit and in particular the guidance on advancing education and fee charging. In this respect the trustees have set up a school for children (between the ages of 3 and 5) many of whom are underprivileged with every year extending our facilities by adding a new class. Fees are charged but those in financial hardship are given an allowance or are fully funded, according to circumstances. No child is refused education because of an inability to pay.

Significant activities

The Trustees of the school are pleased to report that despite the significant growth, each child has received personal attention in order to realise their potential. Our devoted staff members have come through as a team to bring out the best in every child. The additions to the building went very smoothly due to the competence of our committed management committee members.

Our out of school hours activities have been very successful, meeting our aims in developing the beneficiaries personal, social and emotional well being, improving the children's chances in life. We thank our donors who made this possible.

We are very grateful to our very many dedicated volunteers who work tirelessly for the success of our organisation.

Public benefit

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aim and objectives and in planning the charity's future activities. The aims of the charitable company for the public benefit are detailed in the Objectives and Activities section of the report.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

During the year under review the charity received income that amounted to £857,111 (2022: £724,212) and had nursery running costs that amounted to £877,501 (2022: £830,480).

FINANCIAL REVIEW

Reserves policy

The reserves policy is to ensure that there is a sufficient stream of income to meet the working capital of the school.

FUTURE PLANS

There are no current plans to change the activities or modus operandi in the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

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

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07035874 (England and Wales)

Registered Charity number

1135287

Registered office

49 Basement, Ravensdale Road

London

N16 6TJ

Trustees

B D Rudzinski

N Rudzinski

B Bronner

Company Secretary

B D Rudzinski

Independent Examiner

Malcolm Venitt, A.C.A

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

Approved by order of the board of trustees on 10 April 2025 and signed on its behalf by:

B D Rudzinski - Trustee

Independent examiner's report to the trustees of Bnei Zion Community Nursery Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

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.

Malcolm Venitt, A.C.A

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

10 April 2025

31.10.23

31.10.22

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

857,111

724,212

Investment income

3

2

-

Total

857,113

724,212

EXPENDITURE ON

Charitable activities

4

Nursery running cost

877,501

830,480

Administrative expenses

2,400

1,920

Total

879,901

832,400

NET INCOME/(EXPENDITURE)

(22,788

)

(108,188

)

RECONCILIATION OF FUNDS

Total funds brought forward

8,049

116,237

TOTAL FUNDS CARRIED FORWARD

(14,739

)

8,049

31.10.23

31.10.22

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Tangible assets

11

74,818

66,658

CURRENT ASSETS

Debtors

12

5,000

-

Cash at bank

819

12,724

5,819

12,724

CREDITORS

Amounts falling due within one year

13

(95,376

)

(71,333

)

NET CURRENT ASSETS/(LIABILITIES)

(89,557

)

(58,609

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,739

)

8,049

NET ASSETS

(14,739

)

8,049

FUNDS

15

Unrestricted funds

(14,739

)

8,049

TOTAL FUNDS

(14,739

)

8,049

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 10 April 2025 and were signed on its behalf by:

B D Rudzinski - Trustee

Cash flows from operating activities

Cash generated from operations

1

(9,965

)

(46,119

)

Net cash used in operating activities

(9,965

)

(46,119

)

Cash flows from investing activities

Purchase of tangible fixed assets

(23,587

)

-

Interest received

2

-

Net cash (used in)/provided by investing activities

(23,585

)

-

Cash flows from financing activities

New loans in year

1

-

Loan repayments in year

-

(47,847

)

Net cash provided by/(used in) financing activities

1

(47,847

)

Change in cash and cash equivalents in the reporting period

(33,549

)

(93,966

)

Cash and cash equivalents at the beginning of the reporting period

2

12,724

106,690

Cash and cash equivalents at the end of the reporting period

2

(20,825

)

12,724

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.10.23

31.10.22

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(22,788

)

(108,188

)

Adjustments for:

Depreciation charges

15,426

16,046

Interest received

(2

)

-

(Increase)/decrease in debtors

(5,000

)

1,872

Increase in creditors

2,399

44,151

Net cash used in operations

(9,965

)

(46,119

)

2.	ANALYSIS OF CASH AND CASH EQUIVALENTS

31.10.23

31.10.22

£

£

Notice deposits (less than 3 months)

819

12,724

Overdrafts included in bank loans and overdrafts falling due within one year

(21,644

)

-

Total cash and cash equivalents

(20,825

)

12,724

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.11.22

Cash flow

At 31.10.23

£

£

£

Net cash

Cash at bank

12,724

(11,905

)

819

Bank overdraft

-

(21,644

)

(21,644

)

12,724

(33,549

)

(20,825

)

Total

12,724

(33,549

)

(20,825

)

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

5% on reducing balance

Fixtures and fittings

-

15% on reducing balance

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.

2.	DONATIONS AND LEGACIES

31.10.23

31.10.22

£

£

Donations

406,839

130,958

Grants

20,000

171,073

Fees received

430,272

422,181

857,111

724,212

Grants received, included in the above, are as follows:

31.10.23

31.10.22

£

£

Other grants

20,000

171,073

3.	INVESTMENT INCOME

31.10.23

31.10.22

£

£

Deposit account interest

2

-

4.	CHARITABLE ACTIVITIES COSTS

Grant

funding of

activities

Support

Direct

(see note

costs (see

Costs

5)

note 6)

Totals

£

£

£

£

Nursery running cost

835,309

41,106

1,086

877,501

Administrative expenses

-

-

2,400

2,400

835,309

41,106

3,486

879,901

5.	GRANTS PAYABLE

31.10.23

31.10.22

£

£

Nursery running cost

41,106

-

6.	SUPPORT COSTS

Governance

Finance

costs

Totals

£

£

£

Nursery running cost

1,086

-

1,086

Administrative expenses

-

2,400

2,400

1,086

2,400

3,486

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.10.23

31.10.22

£

£

Depreciation - owned assets

15,427

16,046

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 October 2023 nor for the year ended 31 October 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 October 2023 nor for the year ended 31 October 2022.

9.	STAFF COSTS

31.10.23

31.10.22

£

£

Wages and salaries

598,955

513,669

598,955

513,669

The average monthly number of employees during the year was as follows:

31.10.23

31.10.22

Staff

60

28

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

724,212

EXPENDITURE ON

Charitable activities

Nursery running cost

830,480

Administrative expenses

1,920

Total

832,400

NET INCOME/(EXPENDITURE)

(108,188

)

RECONCILIATION OF FUNDS

Total funds brought forward

116,237

TOTAL FUNDS CARRIED FORWARD

8,049

11.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 November 2022

95,532

144,807

25,800

266,139

Additions

-

23,587

-

23,587

At 31 October 2023

95,532

168,394

25,800

289,726

DEPRECIATION

At 1 November 2022

93,563

91,700

14,218

199,481

Charge for year

99

11,505

3,823

15,427

At 31 October 2023

93,662

103,205

18,041

214,908

NET BOOK VALUE

At 31 October 2023

1,870

65,189

7,759

74,818

At 31 October 2022

1,969

53,107

11,582

66,658

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.23

31.10.22

£

£

Other debtors

5,000

-

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.23

31.10.22

£

£

Bank loans and overdrafts (see note 14)

21,644

-

Other creditors

71,332

67,860

Accrued expenses

2,400

3,473

95,376

71,333

14.

LOANS

An analysis of the maturity of loans is given below:

31.10.23

31.10.22

£

£

Amounts falling due within one year on demand:

Bank overdrafts

21,644

-

15.	MOVEMENT IN FUNDS

Net

At

movement

At

1.11.22

in funds

31.10.23

£

£

£

Unrestricted funds

General fund

8,049

(22,788

)

(14,739

)

TOTAL FUNDS

8,049

(22,788

)

(14,739

)

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

857,113

(879,901

)

(22,788

)

TOTAL FUNDS

857,113

(879,901

)

(22,788

)

Comparatives for movement in funds

Net

At

movement

At

1.11.21

in funds

31.10.22

£

£

£

Unrestricted funds

General fund

116,237

(108,188

)

8,049

TOTAL FUNDS

116,237

(108,188

)

8,049

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

724,212

(832,400

)

(108,188

)

TOTAL FUNDS

724,212

(832,400

)

(108,188

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

At

movement

At

1.11.21

in funds

31.10.23

£

£

£

Unrestricted funds

General fund

116,237

(130,976

)

(14,739

)

TOTAL FUNDS

116,237

(130,976

)

(14,739

)

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

1,581,325

(1,712,301

)

(130,976

)

TOTAL FUNDS

1,581,325

(1,712,301

)

(130,976

)

16.	RELATED PARTY DISCLOSURES

During the period the charity received a grant of £21,052 from BC Trust. The charity and BC Trust share a common trustee.

During the period the charity paid rent that amounted to £35,000 to BC Trust. The charity and BC Trust share a common trustee.

During the period the charity paid a loan of £5,000 to BC Trust. The charity and BC Trust share a common trustee.

During the period the charity paid a grant that amounted to £9,000 to BCT Foundation. The charity and BCT Foundation share a common trustee.