**Charity Registration No. 1002406**
## **SAFARDI MINYAN**
**TRUSTEES’ REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 30 JUNE 2025**
## **SAFARDI MINYAN**
## **TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2025**
||**PAGE**|
|---|---|
|Trustees’ annual report|**1**|
|Independent examiner's report|**2**|
|Statement of financial activities|**3**|
|Balance sheet|**4**|
|Notes to the accounts|**5 -9**|
**SAFARDI MINYAN TRUSTEES’ REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2025**
The trustees present their report and annual accounts for the year ended 30 June 2025.
The financial statements have been prepared in accordance with 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- Charities SORP (FRS 102) and the Charities Act 2011.
1. The object of Safardi Minyan is to promote the Jewish religion.
2. For this purpose, a constitution has been written which describes the specific objects, the Committee, the Officers and General Meetings.
3. The Association has been registered at the Charities Commission as Safardi Minyan on 4th April 1991 (Registration No. 1002406).
4. The trustees of the charity are: H Kohali – Treasurer F Kelaty D Kohali - Chairman
5. The Legal Advisor is Alexander Marks - Solicitors. The accountants are Goldwins, 75 Maygrove Road, West Hampstead, London NW6 2EG. The Bank is Lloyds Bank, Hendon Branch.
6. The activities of The Synagogue ensured another successful year, expanding membership and its range of services offered to its members.
## **Public Benefit**
The principal activities of the charity during the year continued to be to promote the Jewish religion. 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 these services as detailed throughout this report and accounts.
## **Reserves policy**
The charity currently operates with an adequate level of reserves representing approximately 3 to 6 months expenditure. The trustees review this policy on a regular basis.
## **Trustees’ responsibilities**
Charity law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that year. In preparing those accounts, the trustees are required to:-
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the Accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
**Treasurer - H KOHALI Date:** 02/02/2026
Page | 1
## **SAFARDI MINYAN**
## **INDEPENDENT EXAMINER’S REPORT**
## **FOR THE YEAR ENDED 30 JUNE 2025**
I report to the trustees on my examination of the accounts of the Safardi Minyan for the year ended 30 June 2025.
## **Responsibilities and basis of report**
As the trustees of the Charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
**Anthony Epton BA FCA CTA Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG**
**Date:** 02/02/2026
Page | 2
## **SAFARDI MINYAN**
## **STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 30 JUNE 2025**
|**Unrestricted**
**funds**
**Endowment**
**funds**
**Restricted**
**funds **
**£**
**£**
**£**
**Income from:**
Donations
**123,130**
**-**
**-**
**Total income**
**123,130**
**-**
**-**
**Expenditure on:**
**Charitable activities**
Light and heat
**10,439**
**-**
**-**
Water rates
**220**
**- **
**-**
Rabbi’s services
**81,829**
**- **
**- **
Depreciation
**15,408**
**- **
**- **
Catering and functions
**880**
**- **
**- **
Security
**4,574**
**- **
**- **
Independent examiner fees
**1,100**
**- **
**- **
Other expenses
**11,916**
**- **
**- **
**Total expenditure**
**126,366**
**-**
**-**
**Movement in funds**
**(3,236)**
**-**
**-**
**Transfers**
**-**
**-**
**-**
**Net movement in funds**
**(3,236)**
**-**
**- **
**Funds brought forward**
**370,676**
135,284
194
**Funds carried forward**
**367,440**
**135,284**
**194 **|**Total**
**2025 **
**£**
**123,130**
**123,130**
**10,439**
**220**
**81,829**
**15,408**
**880**
**4,574**
**1,100**
**11,916 **
**126,366**
**(3,236)**
**- **
**(3,236)**
**506,154**
**502,918 **|Total
2024
£
**146,581**
**146,581**
**13,868**
**1,580**
**76,431**
**15,408**
**2,194**
**7,046**
**1,200**
9,165
**126,892**
**19,689**
**-**
**19,689**
**486,465**
**506,154**|
|---|---|---|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities. The attached notes form part of these financial statements.
Page | 3
## **SAFARDI MINYAN**
## **BALANCE SHEET AS AT 30 JUNE 2025**
|**Notes**
**Fixed assets**
Tangible assets
**4**
**Current assets**
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
**5 **
**Net current assets**
**Creditors: amounts falling due**
**after more than one year 6**
**NET ASSETS**
**Income funds**
Restricted funds
Endowment funds
Other charitable funds
**Total funds**
**7**|**2025**
**£**
**59,600**|
**£**
**674,418**
**58,500**
**(230,000) **
**502,918**
**194**
**135,284**
**367,440**
**502,918**
|2024
£
47,428|
£
689,826
46,328
(230,000)
506,154
194
135,284
370,676
506,154
|
|---|---|---|---|---|
||
**59,600**
**(1,100)**||
47,428
(1,100)||
||
||||
02/02/2026. These financial statements were approved by the members of the committee on-----------. and are signed on their behalf by:
......................
## **H Kohali (Treasurer)**
The attached notes form part of these financial statements.
Page | 4
**SAFARDI MINYAN**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025**
## **1. ACCOUNTING POLICIES**
## a) **Basis of accounting**
The financial statements have been prepared in accordance with 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 2015) - Charities SORP (FRS 102) and Charities Act 2011.
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## b) **Reconciliation with previously Generally Accepted Accounting Practice (GAAP)**
In preparing the accounts, the trustees have considered how to apply the accounting policies required by FRS 102 and the Charities SORP (FRS 102).
## c) **Going concern**
The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## d) **Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received
Income relating to classes, lettings and activities represent the invoiced value of services provided.
## e) **Expenditure**
Expenditure is recognised in the period in which it is incurred.
All expenses are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration on each activity, comprising salary and overhead costs of the central function, is apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
Page | 5
**SAFARDI MINYAN**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025**
## **ACCOUNTING POLICIES (continued)**
## f) **Tangible fixed assets and deprecation**
Tangible fixed assets are stated at cost less deprecation. Depreciation is provided on all tangible fixed assets at rates calculated to written off the cost less estimated value of each asset its expected useful life, as follows:
Land and building 2% on reducing balance Fixtures, fittings and equipment 5% on reducing balance
## g) **Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## h) **Fund accounting**
- Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
- Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes.
- Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Page | 6
## **SAFARDI MINYAN**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025**
**2.** Detailed comparatives of the statement of financial activities
|Unrestricted
funds
Endowment
funds
Restricted
funds
£
£
£
INCOME FROM:
Donations
146,581
-
-
**TOTAL INCOME**
146,581
-
-
EXPENDITURE ON:
Charitable activities
Light and heat
13,868
-
-
Water rates
1,580
-
-
Rabbi’s services
76,431
-
-
Depreciation
15,408
-
-
Catering and functions
2,194
-
-
Security
7,046
-
-
Independent examiner fees
1,200
-
-
Other expenses
9,165
-
-
**TOTAL EXPENDITURE**
**126,892**
**-**
**-**
MOVEMENT IN FUNDS
19,689
-
-
TRANSFERS
-
-
-
NET MOVEMENT IN FUNDS
19,561
-
-
FUNDS BROUGHT FORWARD
350,987
135,284
194
FUNDS CARRIED FORWARD
370,676
135,284
194|Total
2024
£
146,581
146,581
13,868
1,580
76,431
15,408
2,194
7,046
1,200
9,165
**126,892**
19,689
-
19,561
486,465
506,154|
|---|---|
Page | 7
**SAFARDI MINYAN**
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025**
|**3.**
**NET INCOME / (EXPENDITURE) FOR THE YEAR**
This is stated after charging / (crediting):
**2025**
**£**
Depreciation
**15,408**
Independent examiner’s fees
**1,100**
4
**TANGIBLE FIXED ASSETS**
Land and
buildings
Fixtures &
Fittings
£
£
Cost
At the start of the year
**832,639**
**122,585**
Additions
-
-
Disposals
-
-
At the end of the year
**832,639**
**122,585**
Depreciation
At the start of the year
**184,080**
**81,318**
Charge for the year
13,236
2,172
On disposals
-
-
At the end of the year
**197,316**
**83,490**
Net book value
At the end of the year
**635,323**
**39,095**
At the start of the year
**684,559**
**41,267**||2024
£
15,408
1,100
Total
£
**955,224**
-
-|
|---|---|---|
|||**955,224**|
|||**265,398**
15,408
-|
|||**280,806**|
|||**674,418**|
|||**689,826**|
All of the above assets are used for charitable purposes.
## **5. CREDITORS: amounts falling due within one year**
|
Accruals
|**2025**
2024
**£**
£
**1,100**
1,100|
|---|---|
Page | 8
## **SAFARDI MINYAN**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025**
## **6. CREDITORS: amounts falling due after more than one year**
|
Other Loans
|**2025**
**230,000**
**230,000**|2024
230,000|
|---|---|---|
|||230,000|
## **7. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**Endowment**
**funds**
**£**
**Funds Balances at 30 June 2025**
**are represented by**
Fixed assets
135,284
Net current assets
-
Non-current liabilities
-
Total Net Assets
**135,284**|**Unrestricted**
**funds**
**£**
539,134
58,306
(230,000)
**367,440**|**Restricted**
**funds**
**£**
-
194
-
**194**|**Total**
**funds**
**2025**
**£**
**674,418**
**58,500**
**(230,000)**|
|---|---|---|---|
||||**502,918**|
## **8. RESTRICTED FUNDS**
These are the funds held in Gemach bank account.
## **9. TAXATION**
The charity is provisionally exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
## **10. RELATED PARTIES**
No expenses were reimbursed to the trustees.
No member of the management committee has received or are due to receive any remuneration for the year directly or indirectly from the charity’s funds.
Page | 9