Charlty Reglstratlon No. 1040356 BOURNEMOUTH REFORM SYNAGOGUE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2024 BUSINESS ADVISORS & ACCOUMYANYS 10 Bridge Street Christchurch Dorset BH23 IEF
BOURNEMOUTH REFORM SYNAGOGUE cOMrEPs Page Company information Trustees report Statement of Trustees responsibilities Independent examiner's report Statement of financial activities Balance sheet io Notes to the financial statements 11-22
BOURNEMOUTH REFORM SYNAGOGUE LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Marsh S Sinkinson D Tendler S Elkins A Mozer PHart Mr B Goldbart Mr D Habel Charity number 1040356 Independent examiner TC Group 10 Bridge Street Christchurch Dorset BH23 IEF
BOURNEMOUTH REFORM SYNAGOGUE TRUSTEES REPORT FOR THE YEAR ENDED 30JUNE 2024 The Trustees present thelr report and financial statements for the year ended 30June 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the fi'nancial statements and comply with the Charity's deed of trust, the Charities Art 2011 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repothn8 Stsndard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from l January 20161 Objectlves and actlvltles The objects, which are also the alms, of the Synagogue are to advance the Jewish religion. particularly by providing and maintaining a Synagogue for the purpose of public worship and of advancing religious, educational and such charitable activities as the members of the Council, together wlth the Rabbi, ffoy from me to time decide. The Trustees have paid due regard to guidance issued by the Charlty Commission in decldln8 what activities the Charity should undertake. The synagogue has one principle activity, that of providing a framework for the local Jewish community through provision of a place of worship and the associated religious and communal activities. These associated activifjes are broadly categorised into three types, pastoral, religious and communal. Religious activitie5 include the provision of a place of worship. varlous reli8lous activities, religious eduCaOn and religious SUPPOrt. Communal activities include various communal events organised throughout the period, along with the pastoral and welfare support of the members. As a result of having a large proportion of elderly members, we have a community that has higher than average pastoral and welfare needs. The Rabbi, being the first point of contact for members, works to ensure our members are looked after by the community. There is a support group to assist with pastoral work. The Synagogue administration provides the required backup and Information services. These services are utilised by the Rabbi. Council and appropriate volunteers, a5 well as all members of the Synagogue. The Council continues to promote our activities to the wider Jewish Community in Dorset and Hampshire with the hope of increasing our membership and raising awareness of Judaism. Our main objectives are the promotion, preservation and observation of Jewish tradition, and these are set to reflect our faith and community aims. Each year the Trustees review the objectives and activities to ensure they confjnue to reflect our aims. In carrying out this review, the Trustees have considered the Charity Commission's Buidance on public benefit and in particular, its supplementary public guidance on the advancement of religion for public benefit. The focus of our activities is the provision of a place of worship, religious activIeS and support, the provisSon of plots and burial rites in accordance with tradition and arranging communal events and activities. We welcome all persons who wish to follow the Jewish tradition, regardless of personal funds and thelr ability to meet our subscription fees.
BOURNEMOUTH REFORM SYNAGOGUE TRU5fEES REPORT (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Achlevements and performance Communal Passover Seder, monthly Chavurah Suppers and other activities are enjoyed by many throu8hout the year. 8'nei Mitzvah online and face to face learning takes place largely with the Rabbi in preparation tjr BarlBat Mitzvah children's special day. Regular study sessions for 'Beginners Hebrew. and 'lntroduction to Judaism, along with Torah Studps and Shabbat seprfices take place by video call and in the Synagogue. The interest and welfare of our members is of paramount importance. The Rabbi's volunteers are suworted by the administrative team to provide essential support to individual members of the community as required. Referrals are made to Bournemouth Jewish Support Services who offer wide ranging support for individuals with trained volunteers. As always, in additr'on to the paid staff, the Synagogue relies heavily on the invaluable voluntary help from Council, Honorary Officers of the Synagogue and Synagogue members. The Trustees are satisfied that all the achievements in the year are in line with the charity's aims and objectives. The charity does not carry out significant fundraising activities but one major event thi5 year has raised funds for emergency help to soldiers in Israel following the October 7 massacre. The Synago8ue 15 affiliated to the Movement for Reform Judaism IMRJI. which gives guidance on our form of worship as well as assistance with other practical matters. The Movement advises but cannot force the Synagogue to follow a particular course if it does not wish to. One of the benefits of membership of the Syna8ogue is the availability of the burial plan. A prop(rtion of members, subscriptions are specifically levied in this respett: these levies are paid on to the Jewsh Joint Burial Society, which in most cases is then solely responsible for the provision of the burial services. the servlces bein8 provided by the Synagogue. The Synagogue is entitled to representation at the Board of Deputies. for which a per capita charge is levied on the number of members.
BOURNEMOLrrH REFORM SYNAGOGUE TRusfEES REpoirr (CONTINUED) FOR THE YEAR ENDED 30JUNE2024 Flnanclal revlew Income of the Synagogue is primarily from subscriptions paid by members and gift aid reclaimed. It would be desirable for the normal running costs of the Synagogue to be met from subscription income, but the effect of the economic climate on our members. financial situation continues to preclude this. Council is aware of the level of members who are unable to afford the membership fee, but once again has not called upon TET for assistance this year, as it was agreed that BRS should attempt to manage independently. Although it was agreed that TET should reduce its support, TET support is 5ti11 offered if necessary. The Synagogue is still reliant on donations and legacies. but these funds cannot be relied on for the general running of the Synagogue. A review of various aspects of the synagogue has taken place includln8 an assessment of the long-term viability of remaining in the current building. The Synagogue is the beneficiary of an endowment trust fund set up in 2002 under the will of the bte K R Townsend and known as the Townsend Endowment Trust ITET}. The Townsend Endowment Trust ITETI is registered as a linked charity to Bournemouth Reform Synagogue IBRSI. The financial statements of BRS therefore Include the transactions of TET {under endowment funds) and the financial position and apwopriate notes show the financial position of the BRS on its own and of the 8RS and TET combined. The Trustees of TET had several zoom meetings during the year to discuss the investments and funding of BRS. TET capital and Income of the fund are able to be used for the general charitable purposes of the Synagogue in respect of its pastoral, welfare and educational work. It is the Syna808ue's policy that where a member is unable to afford the full membership fee, the Treasurer liaises with the member. A confidential discussion L3kes place and a mutually acceptable arrangement 15 arrived at whenever possible. It is not the policy to remove membership rights where there is an inability to pay. Such arrangements are at the sole discretr'on of the Treasurer and confidents'ality is maintsined. It is the Synagogue's investment poliri to keep its general reserves on a low risk basis at the bst interest rates it can reasonably achieve. In respert of the Townsend Endowment. the Trustee5 have invested funds, following advice from the Investment Advisor. to provide a reasonable income with some capital growth. A review of the investments is undertaken periodically. During the year ending 31 June 2019. the investment was trar6ferred to new investment advisors as more confFdence was held by the Trustees with the advisors. The Synagogue has also re-lnvested £85,0(Xi in a one year bond. As can be seen in the financial statements, BRS has made a £23.903 surplus in the year. ExcludingTET. income has reduced by 24% whereas costs have increased by over 40%. In particular, the costs of heating/li8hting has risen from £8.089 to £15.730, an increase of over 94%. Whilst currently there are still sufficient fvnds to operate and continue to meet the charitable objective, the ageing demo8raphic of BRS will mean that membership subscription income will inevitably decline over the coming years, whilst the ageing building means that maintenance costs could continue to increase. Ccuncil continues to review the financial position on a ongoin8 basis and remains committed to the objectives and activities as set out in the Constitution. The Synagogue does not have a specific grant making policy, but small donations are made to various organisations that the Trustees consider appropriate.
BOURNEMOUTH REFORM SYNAGOGUE TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 The total combined reserves at the year-end were £791,864 of which £259,728 were endowment funds FEld bv Townsend Investment Trust ITET} and £36,385 were restricted reserves. At the year end the level of free reserves is £309.500 which represents unrestricted funds excluding fixed tangible assets. The endowment funds has certain criteria attached. The reserves policy 15 to maintain reserves equal to around 3 months expenditure. Any reserves in exce55 of this are invested to help the long term future of the community, which includes overdue maintenance and upgrades within the building. Excess rese$ wlll also help avoid any cash flow difficulties which could arise in the event that membership income suffers from substantr'al reduction in membership number5. The Strategy Committee are in place to discuss the long term future of the Charity. Current reserves are in line with the policy. The Trustees are aware of the debt to the MRJ for annual assessment fees which the Synagogue has not been in position to fully clear1£22,290 at the year-endl. Acceptable arrangements for the clearing of the debt over a period of time have been negotiated with the MRJ and are in place. Current liabilitles to the MRJ are being met whilst the debt is being paid off. Council has considered clearing the balance with the MRJ but have agreed to wait. The Trustee5 are tontinually working on a strirt programme of cost-cutting to ensure the annual income once again exceeds annual out8oings. As such, and on the basis of the contlnued support of TET and MRJ, the Trustees consider it approkyiate to prepare the fi'nancial statements on the 8olng concern basls. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfled that systems are in place to mitigate exposure to the major risks. The plans for the forthcoming year are to contlnue to promote, preserve and observe the Jewish religion, provide communal and pastoral Services and increase membership where posslble and hold fundraising events for both the Synagogue and the wider Jewish community. The Synagogue will continue to identify and encourage new members to join BRS and find other ways of raising funds from events held during the year. Strurture• 8overnance and management The charity Is controlled by its governing document, a deed of trust and constr'tutes an unincorporated charity. The Trustees who served during the year and up to the date of signature of the financial statements were: A Marsh S Sinkinson D Tendler S Elkins S Faust A Mozer PHart R Turze Mr B Goldbart Mr D Habel IResigned 26 November 20231 (Resigned 17 November 20231
BOURNEMoirfH REFORM SYNAGOGUE TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 30JUNE2024 The Synagogue is governed by its Constitution dated June 1947. last amended on 29 December 2020, and the Synagogue operates in accordance with the guidelines set out in this document. Monthly Council meetings are held at which matters are discussed and decisions made, providing there is a quorum of five Council members present. Additional Council meetings are held as required. The Honorary Officers hold regular meetings prior to Council meetings. The Trustees of the Synagogue are Council Members who are elected by the general membership in open meeting. The Council members are elected for a one year term after which time they may stand for re-election. Additional Trustees may be appointed by the Council. There are two permanent Trustees who hold the title of the Synagogue's property- New Trustees are trained on an individual basis by current, sitting Trustees. All significant operational decisions are made by Council. taking appropriate external advice where necessary. The Constitution requires certain key decisions to be approved by the membership in open meeting, and these include the appointment and termination of rabbinic contracts as well as salary review. The trustees therefore considerthemselves the only key management. Rlsk management The major risk to the Synagogue is if membership income does not cover its expenses. For this rean, Council continues to keep a careful control on expenditure. It endeavours to set subscriptions at a realistr level sufficient to meet routine expenditure. and donatr"ons, whilst not guaranteed, are an essential part of Synagogue income. When setting membership subscription levels, Council also bears in mind that many members are on low lixed incomes. Council has examined the major operational risks which could be faced by the charity. They continue to monitor on a regular basis and this will be an oTrgoing as of Council's mana8ement of the Synagogue. The Trustees report was approved by the Board of Trustees. Mr B Goldbart Trustee Dated..
BOURNEMOUTH REFORM SYNAGOGUE STATEMENT OF TRusfEES RESPONSIBILITIES FOR THE YEAR ENDED 30JUNE 2024 The Trustees are responsible for preparing the Trustees Report and the financial ststements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial 5tstements for each fi'nancial year which give a true and fair view of the state of affairs of the Charity and of ttE incoming resources and application of resources of the Charity for that year, In preparSn8 these financial statements, the Trustees are required to: select suitable accounting policies and then apply them conslstently; observe the methods and Pf inciples in the Charitie5 SORP; make judgements and eSrnateS that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fi'nancial statements. and prepare the financial statements on the golng concern basls unless it is inappropriate to presurre that the charity will continue in operation. The Trustees are responsible for keepln8 sufficient accounting records that disclose with reasonaLle accuracy at any time the flnanclal posltlon of the Charlty and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Re8ulatlons 2008 and the provision5 of the trust deed. They are also responsible for safeguarding the assets of the Charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
BOURNEMOUTH REFORM SYNAGOGUE INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF BOURNEMOUTH REFORM SYNAGOGUE I report to the Trustees on my examination of the financial statements of Bournemouth Reform Synagogue (the Charity) for the year ended 30 June 2024. Responslblllties and basls of report As the Trustees of the Charity you are responslble for the preparation of the fi'nancial statements in accordance with the requirements of the Charities Art 2011 (the 2011 Act}. I report in respect of my examination of the Charity's financial statements carried out under 5ertion 145 of the 2011 Att. In carrying out my examSnatlon I have followed all the applicable Directions glven by the Charity Commission under section 14515llbl of the 2011 Act. Independent examlner's statement I have completed my exaMInaOn. I conflrm that no matters have come to my attentlon 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 sethon 130 of the 2011Act: or the financial statements do not accord wlth those record5,' or the financial statements do not comply with the applicable requirements concerning the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than anv requirement that the accounts give a true and fair view which is not a matter considered a5 part of an Independent examination. I have no concerns and have come across no other matters in connection with the examination to whrh attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached, f / If Fu4 Dean Pullen FCCA TC Group 10 Bridge Street Christchurch Dorset BH23 IEF Dated.. 1911112024
BOURNEMOUTH REFORM SYNAGOGUE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30JUNE 2024 Unrestrlcted Restrlcted Endowment funds funds funds 2024 2024 2024 Total Total 2024 2023 Notes om Donations and legacies Charitable activities Other trading actr'vitr'es Investments 147.278 73.524 390 4,536 147,278 90,653 390 5,952 245,324 73,501 555 2,288 17,129 1,416 Total Income and endowments 225,728 17,129 1.416 244,273 321,668 Raising funds 1,745 1,745 1,613 Charitable attivities 231,021 8,917 239,938 171,214 Endowment funds io 1,380 1,380 480 Total resotsrces ejtpended 231.021 8,917 3,125 243,063 173.307 Net gains/llossesl on investments li 22,693 22,693 9,578 Net {out80Sn8)Ilncomlng resources before transfers 15,2931 8.212 20,984 23,903 157,939 Gross transfers between funds 7,476 17,4761 Net movement In funds 2,183 736 20,984 23,903 157,939 Fund balances at l July 2023 493,568 35,649 238,744 767,961 610.022 Fund balances at 30 June 2024 495,751 36,385 259,728 791,864 767,961 The Statement of financial activities includes all gains and losses recogni5ed in the year. All income and expenditure derive from continuing activities.
BOURNEMOUTH REFORM SYNAGOGUE BALANCE SHEET AS AT30JUNE2024 2024 2023 Notes Flxed assets Tangible assets Investments 12 13 186,250 255,176 192,881 232,814 441,426 425,695 Current assets Debtors Cash at bank and in hand 15 55,442 353,458 110,120 307,086 408,900 417,206 Credltors: amounts fallln8 due wlthln one year 16 158,4621 174,940} Net current a55ets 350.438 342,266 Total assets less current Ilabllltles 791.864 767,961 Capltal funds Endowment fund5- general Income funds Restricted funds Unrestritted fund5 17 259.728 238,744 18 36,385 495,751 35,649 493,568 791,864 767,961 The financial statements were approved by the Trustees on ... Mr B Goldbart Trustee 10-
BOURNEM0iH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMENfs FOR THE YEAR ENDED 30JUNE2024 Accountin8 pollcles Charity information The charity is registered charity in England and Wale5 and is unincorporated. The address of the principal offi'ce is 53 Christchurch Road. Bournemouth, Dorset. BHI 3AP. 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland IFRS 102}" las amended for accounting periods commencing from l January 2016}. 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 applying FRS 102 Updat e Bulletln I not to prepare a Statement of Cash Flows. The financial statements are prepared In sterling. which is the fvnctional currenoi of the Charity. Monetary amounts in these financial statements are rounded to the nearest pound. The financial statements have been prepared under the historical cost convention. with the exception of investments which are included at market value. as modih'ed by the revaluation of certain assets, 1.2 Golng concern At the time of approving the financial statements. the Trustees have a reasonable expertation that the Charity has adequate resources to conts'nue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the 80in8 concern basis of accounting in preparing the h'nancial statements. 1.3 Charftable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitsble objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purwses and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subjert to specific conditions by donors that the capital must be maintained l¥ the Charity. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 1.4 Incomlng resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. 11
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL StATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Accountin8 pollcles (Continued) 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. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution. the amount is known. and receipt is expected. If the amount is not known. the legacy 15 treated as a contingent asset. Voluntary income (including membership subscriptions) is accounted for gross when receivable, as long as it is capable offinancial measurement. Income from the endowment fund investments is recorded 35 endowment income and is to be utilised n particular for the synagogue's pastoral and educational work. The endowment capital can also be used for these purposes and both income and capital can be used for the general charitable purposes of the Synagogue. 1.5 Resource5 expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure on raising funds includes the costs of managing the charity's investments. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apporknoned to charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or Valtion, net of depreciats.on and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual value5 over their useful lives on the following bases- Leasehold land and buildings Plant and equipment Fixtures and fittings Computers Library Straight line over 45 years 15% on cost 15% on reducing balance 25% on cost and 15% on reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recogni5ed in net incomellexpenditurel for the year. No depreciation is provided on the Library. 12-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMENfs (CONTINUEDI FOR THE YEAR ENDED 30JUNE2024 Accountlng pollcles (Continued) 1.7 Flxed asset Investments Listed investments are measured at fair value with changes in fair value being reco8nised in profit or loss. 1.8 Impalrment of Ilxed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impirment loss {if any). 1.9 Cash and ush equlvalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other shortrterm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Debtors and credltors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. 1.11 Llnked charlty The Townsend Endowment Trust is registered as a linked charity of the Bournemouth Reform Syna808ue. These fi'nancial statements combine the result5 of the two branches on a line by line basis. The endowment fund represents transactions of the Townsend Endowment Trust. Donations and le8acles Unrestrlcted funds Total 2024 2023 Donations and gifts Legacies receivable Membership fees Income tax recoverable 26.813 25.701 76,160 18,604 9.432 143.299 74,766 17,827 147.278 245,324 13-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMENTS (coNfiNUED) FOR THE YEAR ENDED 30JUNE2024 Income from Charltable Artlvltles Jewlsh Jewish religious and Ilglous and communal activities communal activlties 2024 2023 Funerals invoiced Members cont. to JJBS Communal events 68,872 17,129 4,652 54,146 15,182 4,173 90,653 73,501 Analysis by fund Unrestricted funds Restricted funds 73,524 17,129 56,309 17,192 90,653 73,501 Other tradlng artlvltles Unrestrfcted funds Total 2024 2023 Advertising 390 555 14-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMEKfs (CONfiNUED) FOR THE YEAR ENDED 30JUNE 2024 Investments Unrestricted Endowment funds funds Total Total 2024 2024 2024 2023 Income from listed investments Interest receivable 1.416 1,416 4,536 1,014 1,274 4.536 Total 4.536 1,416 5.952 2.288 Raising funds Endowment funds general 2024 Total 2023 Investment management costs 1,745 1,613 1.745 1.613 15-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMEKfs (colNUED) FOR THE YEAR ENDED 30JUNE2024 Expenses for Charitable Activities Jewish Jewish religious and religlous and communal communal activlties activities 2024 2023 Dirett costs- Minister expenses MJR Assessment JJBS levy Funeral costs Communal events Grants to institutions Wages Wages Insurance Light and heat Telephone and computer Postage and stationery Appea15 Sundries Outreach expenses Rent Repairs and maintenance Depreciation Security Synagogue Independant examination Leg31 fees 34.876 10.168 8.024 43,638 1,191 2.189 10.696 23,917 11,648 15,730 2,709 1,328 18,529 2,036 4.580 9.036 24.260 6,631 618 30,352 9,261 7,755 32.766 4.367 1,478 9,577 17,155 8,779 8.089 1.871 1,691 Grant funding of activities: Support costs- finance- Support costs - other.. 5.062 2,757 6,922 10,015 6.811 3.149 5.100 (1151 1.251 4,950 305 Support costs - governance cost: 239,938 171.214 239.938 171,214 Analysis by fund Unrestricted funds Restricted funds 231,021 8.917 160,591 10,623 239.938 171,214 16-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 Trustees Trustees, expenses During the year four Trustees were reimbursed a total of £1.914 for catering costs and sundry items12023 £1,277). Trustees, remuneratlon and beneflts None of the Trustees lor any persons connected with theml received any remuneradon or benefits during the year. The Trustees consider themselves to be the only key management. Employees Number of employees The avera8e monthly number of employees during the year was.. 2024 Number 2023 Number Admininstratlon Propertv No employees received emoluments in excess of £60,000. There were no employees whose annual remuneradon was £60,000 or more. 10 Endowment funds 2024 2023 Book cost adjustment to investments Accountancy 740 640 60 420 Total 1,380 17-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL 5fATEMENTS (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 11 Net 8alns/(losses) on Investments Endowment funds Total 2024 2023 Revaluation of investments 22,693 9,578 12 Tanglble flxed assets L••sehold land •nd bulldln85 Pl•nt •nd equlpment Flxtures •rrfl IItMng5 Compute Llbr•ry Cost At l July 2023 241,478 1.170 43,636 20,565 633 307,482 At 30 June 2024 241,478 1,170 43.636 20,565 633 307,482 Depreclation and Impalrment At l July 2023 Depreciation charged in the year 56,525 644 37,292 20.139 114,6C 5,440 176 952 64 6,632 At 30June 2024 61,965 820 38,244 20,203 121,232 Carrylng amount At 30 June 2024 179,513 350 5,392 362 633 186,250 At 30 June 2023 184,953 526 6,343 426 633 192,881 All assets are held for charitable purposes. Leasehold property comprises the synagogue at 53 Christchurch Road, Bournemouth. 18
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30JUNE2024 13 Flxed asset investments Usted Investments Cash In portFollo Total Cost or valuation At l July 2023 Valuation changes 216,142 9,578 16.672 232,814 9.578 At 30June 2024 225.720 16,672 242,392 Carryln8 amount At 30 June 2024 225,720 16,672 242,392 At 30 June 2023 216.142 16,672 232,814 There were no investment assets outside the UK. All investments are held at valuation, measured at fair value throu8h net Income and expenditure. The charity incurred net expenditure of £330 {2023 £5981. 14 Flnanclal Instruments 2024 2023 Carrylng amount of financlal assets Instruments measured at fair value through profit or loss 238,834 216,142 15 Debtors 2024 2023 Amounts fallln8 due wlthln one year: Membership debts Other debtors Prepayments and accrued income 2,925 14,852 37.665 2,133 l(K),088 7.899 55,442 110,120 19-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMENTS ICONTINUED) FOR THE YEAR ENDED 30JUNE2024 16 Creditors: amounts fallin£ due within one year 2024 2023 Accruals and deferred income 58,462 74,940 Included in the above is deferred income of £22.287 {2023 £25.6661 representing memberships paid in advance and monies paid into the Jewish Joint Burial Serrfice. 17 Endowment funds Endowment funds represent assets which must be held permanently by the Charity. Income arising onthe endowment funds can be used in accordance with the objects of the Charity and is included as unrestrirted income. Any capital gains or losses arising on the assets form part of the fund. Movement in funds IrKomlbVd Resources Trartsfers Rtv•luations Aalns ¥hd 1055e5 8alan¢e •t JO Jun¢ 2024 l Juty 2023 Permanent endowments Townsend Endowment fund 238.744 1,416 (3.1251 22,693 259,728 238.744 1.416 (3,125) 22,693 259.728 The endowment fund was set up in 2002 on receipt of a legacy from the late K R Townsend. The capital and the income of the fund are able to be used for the general charitable purposes of the Synagcgue in respect of its pastoral and educational work. The Townsend Endowment Trust is registered as a subsidiary charity of the Synagogue. -20-
BOURNEMOUTH REFORM SYNAGOGUE NOTES TO THE FINANCIAL sfATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30JUNE 2024 18 Restrlcted funds The income funds of the charity include restricted funds comprising the following unexpended balan5 of donations and grants held on trust for specifi'c purposes.. Movement in funds In¢omln8 Rtsour¢es e¥pend•d bal4nce •t l July 2023 Tr•nsl• *lance at 30June 2024 Sefer Torah fund Jewish Joint Burial Society Outreach Cemetery fund Kitchen/Building fund Rabbi Discretionary 395 741 395 741 15.379 17.9031 11,0141 17,4761 1,014 20,283 11,083 2,133 1,750 22.033 11,083 2,133 35.649 17,129 18,9171 17,4761 36,385 The Jewish Joint Burial Soclety fund reflects income from members and levies paid over to the Society. The transfer seen this year reflects a slx month moratorium of the JJBS fees for the period July 2023 to December 2023. This moratorium was in place for the whole of 2023. The Honorary Officer and Board of the Society at JJBS hoped that this windfall would aid members who might be in financial need. Excess funding received ha5 therefore been transferred to General Funds as the charity will be using it to offset fees where members are finding it hard to pay. The Outreach fund is to enable outreach work to increase the membership of the Synagogue. The Cemetery fund is for the purpose of maintaining the cemetery. The Kitchen/Building fund is being held to cover replacement and necessary improvement costs to the kitchen and building. The Rabbi Discretionary Fund is for cases that arise in the year. The Sefer Torah fund is to enable repair5 to be made to the Sefer Torah. 21
BOURNEMOUTH REFORM SYNAGOGUE NOTESTO THE FINANCIAL sfATEMEKrs {coNriNUED) FOR THE YEAR ENDED 30JUNE2024 19 Analysls of net assets between funds Unrestricted Restricted Endowment funds funds funds 2024 2024 2024 Total Total 2024 2023 Fund balances at 30 June 2024 are represented by: Tangible assets Investments Current assets/lliabilitlesl 118,542 62,516 5,192 255,176 16401 186,250 255,176 350,438 192,881 232,814 342.266 377,209 126,1311 495,751 36,385 259,728 791,864 767,961 20 Operating lease commltments At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operatlng leases, which f311 due as follows: 2024 2023 Within one year 771 2,606 21 Related party transactions There were no disclosable related party transactr'ons during the year12023 - none). -22-