Registered Charity Number: 1052186 soirrH HAMPSTEAD CHARITABLE TRUST REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024
SOUTH HAMPSTEAD CHARITABLE TRUST CONTENTS Pago Reference and Admini8tralive details Report of Ihe Trustees 24 Report of th8 Ind8pend8nt Examiner Statement of Flnanclal Activittès Balance Sheet Nole8 to ihe Accounts 8-11
SOUTH HAMPSTEAD CHARITABLE TRUST REFERENCE AND ADMINISTRATIVE DETAILS CHARrrY NUPABER: 1052186 ADDRESS: South Hampstead Synagogue 21-22 Eion Villas London NW3 4SP GOVERNING DOCUMENT: Trust Deed dated 10 January 1996 TRUSTEES: John Austin Stephen Pack Richard Loftus Leon Blitz Oanny Kay BANKERS: The Royal Bank of &otland PLC 1 Fleet Street London EC4Y 1BD Solicitor5: Bir¢ham Dyson B811 LLP SO Broadway London SWI H OBL Independent Examiner: Nikki Ciane FCA BKL Audit LLP 5 Fleet Plate London EC4M 7RD
REPORT OF THE TRUSTEES SOUTH HAMPSTEAD CHARITABLE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and accounts for the year ended 31 Sl December 2024.The accounts have been prepared in accordance with the Stalemenl of RernMended Practice: Accounling and Reporting by Charilies preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK arKJ Republic of Ireland (FRS 1021 and Ihe Charities Acl 2011 and UK Generally Accepted Practice as it applies from 1 January 2021. The accounts have been prepared to give a Irue and fair. view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view.. This departure has involved following Accounting and Reporting by Charilies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of IrelarKI (FRS 1021 issued October 2019 rather than the Accounting and Reporting by Charities.. Statemenl of Recommended Praclice eflective from 1 April 2005 which has since been withdrawn. Structure, Governance and Management The Soulh Hampstead Charitable Trusl is constiluled by a Declaration of Trust dated 10th January 1996. a supplemental deed daled 3 February 2009, a supplemental deed dated 14 April 2014 and a supplemental deed daled 14 September 2017 and is a Registered Charity No.1052186. The Charity has a close relationship with the Soulh Hampslead Synagogue. The Synagogue is a member of the United Synagogue, registered charity number 242552. The Trustees, who are all also members of the South Hampstead Synagogue with the exception of Stephen Pack, are working with United Synagogue to achieve their objectives. The Trustees who have served during the year and since the year end are set oul on page 1. The Trustees are officers of the organisation and are responsible for day-to-day activities of the Charity. The Truslees are appointed and operate in accordance with the Twsl Deed. No formal poliues have been adopted for the induction and training of trustees. The power of appointing Truslees is vested in the Board of Trustees. The Charity does not employ any staff. The Truslees have assessed the major risks to which the Charity is exposed and systems have been established to miligale these risks. Objectives and A1vItieS The objects of Ihe Charity are to establish and mainlain a synagogue or synagogues and related community fa¢S1ities and to advance the education of the public in the Jewish Religion and the many facets of Jewish culture worldwide.
REPORT OF THE TRUSTEES SOUTH HAMPSTEAD CHARITABLE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 Publlc Benetits The Charities Act 2011 requires all charilies lo meel Ihe legal requirement thal its aims are for the public benefit. The Charity Commission in ils Charities and Public Benefit guidance slates Ihat there are two key principles lo be met in order to show thal an organisation's aims are for the publlc benefit. firstly, there must be an idenlifiable benefit or beneffts and secondly, that the benefit must be lo the public or a section in the public. The Trustees consider that they have complied wilh Section 17 of the Charilles Acl 2011 including the guidance Public Benefft- running a charily IPB21. Achlevemenls and Performance In the year under review the Charity received reslri¢ted donalions of £279,002 (2023 - £nil) for Ihe United Synagogue fund for the pury)ose of fundlng ihe redevelopmenl of the rabbinic house. The Trustees were able to provide ongoing support for community activities within the synagogue. Flnanclal Revlew It is the Trustees current policy lo use unrestricted funds to support the Synagogue as required. At 31 December 2024, the Charity held total reserves of £516,033 (2023 - £189.7721, comprising unreslricled funds of £214,909 (2023 £161,772) and restricted funds of £273,124 for the redevelopment of Rabbinic housing and £28,000 (2023 - £28.000) lor the stained-gtass wlndow lund. The Charity's Trustees, have designated £100,000 of unrestricted funds for Ihe Rabbinic gratiiude fund.
REPORT OF THE TRUSTEES SOUTH HAMPSTEAD CHARITABLE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees. responsibililies in relation to the financial ststements The trustees are responsible for preparing the Trustees. Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢lice). The law applicable to Charities in England and Wales requires the Trusteas to prepare financial statements for each financial year. which give a true and fair view of the Charity's financial activities during the year and ol its financial position at the end of th& year. In preparing those financial stalements, the Truslees are required to: _ select suitable accounling policies and then apply Ihem consistently. observe the methods and principles in the Charilies SORP; make judgments and estimates Ihat are reasonable and prudent. state whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial slatetnerrts, and prepare the financial slatements on Ihe going concern basis unless it 15 inappropriate to presume that the Charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose wilh reasonable accuracy at any time the financial position of the Charity and enable thewn to ensure thal Ihe financial statements comply with the Charities Act 2011, The Charity (Accounts and Rep)rts) Regulations 2008 and its governing instrument. They are also responsible for safeguarding the assets of the Charity and hen for taking reasonable sleps for the prevention and delection of fraud and other irregularities. r of the Tru51ee Trustee: Richard Loftus Date:
REPORT OF THE INDEPENDENT EXAMINERS TO THE TRUSTEES OF SOUTH HAMPSTEAD CHARITABLE TRUST I report to the trustees on my examination of the financial statements of South Hampstead Charitable Twst ('the charity'l for the year ended 31 December 2024, which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely lo the charty's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to Ihe charity's Irustees those matters l am required to state to them in this report alld for no olher purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charty's trustees as a body, for my work, for this report. or for the opinions I have formed. Responsibilities and basis of report As the Iruslees of the charity you are responsible for the preparation of the financial slatemenls in accordance with the requirements of the Chaiities Act 2011 {'the Act,). I report in resped of my examination of the charity's Ibnancial slatements carried out under section 145 of the Act and in carrying out my examination I have followed all Ihe applicable Directions given by ihe Charity Commission under seclion 14515)Ibl of the Act. An independenl examination does nol involve gathering all the evidence Ihal would be required in an audlt and consequently does not cover all the matters that an auditor considers in giving ihelr opinion on the financial slatemenls. The planning and conducl of an audtt goes beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the financial statements present a Irue and fair, view and my report is limited to those specrfic matters set oul in the independent examiner's statemenl. Independent examln8r's statement Since the trust's gross income exceeded £250,000 your examiner must be a member of a blY listed in section 145 of the 2011 . 1 confirm thal l am qualified to undertake the examination because l am a member of the ICAEW. 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: accounting records were nol kept in respect of the charily as required by section 130 of the the financial slatemenls do nol ac(xird with those records-, or
Ihe financial statements do nol comply wilh the applicable requirements concerning ihe fomi and contenl of accounts set out in the Charities (Accounls and Reports) Regulalions 2008 other than any reqLJirement that the accounls give a Irue 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 matlers in connecliDn with the examinalion to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Nikki Crane FCA BKL Audit LLP 5 Fleet Place London. EC4M 7RD Date:
SOUTh HAMPSTEAD CHARrrABLE TRUST STATEMEKf OF FINANCIAL ACTlVtTIES FOR THE YEAR ENDED 31 DECEMBER 2024 LknYeitrf¢t8d Funds Re81rkted Fund• Tolol Unr•trkl8d Fund Note8 INCOME DoDiors 62,370 279.002 341,372 TQTAL IIKOMING RESOURCES 82,370 EXPENomiFIE hailab aclvmes 5,878 6.Q08 TOTAL RESWRCES EXPENDED 5.878 INCOME 53,137 273.124 326.281 14,2081 14,2081 NET MOVEMENf IN FUNDS $3.137 273.124 326.%1 14,20BI Fund b8lan¢e$ al 1 January2024 161,772 28.000 189.772 165.g80 193.980 FUND BALANCES AT 81 DECEMBER 2024 214,909 301.124 516.033 161.772 28,(M)O 189.772
SOUTH HAMPSTEAD CHARITABLE TRUST STATEMETr¥f OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2024 Noles 2024 2023 FIXED ASSETS Tangible assets 80,000 80,IK)O CURREMf ASSETS Debtors 793 1.887 Cash at bank 538,281 172,496 539,074 174,383 CURREpif LIABILITIES 103,041 64,611 Net current assets 436.033 109,772 NET ASSETS 516033 189,772 FUNDS Unrestricted funds Genera1 unrestricted funds Designated 114,909 100,000 161,772 214,909 161.772 Reslricled funds 301,124 28,000 516,033 189772 Approved by the Truslees Trusto8: Rl¢hard Loftus Date:
SOUTH HAMPSTEAD CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES Company Inforniatlon South Hampstead Charflable Trust is a trust registered in England and Wales. The prin¢ipJ place ol buslness is South Hampstead Synagogue, Elon Villas, London, NW3 4SP. Bas18 of preparation of finanelal statements The financial statements have been prepared Sn ardance with Accounting and Fleporting by Charili8s: Slatement ol Recommended Praclice applicabl& to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffective 1 January 20211-ICharilies SORPIFRS 10211 and Iha Inancial Reportlng Standard applicable in Ihe UK and Republic of IrelandlFRS 1021. The financial statements are prepared in stertirwJ 1£) which Is the functional currency ol Ihe Charity. The Charity meets Ihe definition of a pvblic benefit entity under FRS 102. Assets and liabilities are initially recognlsed at historical cost or transaction value unless OtheSe slated in tha relevant accounting policy notes. The financial statements have been prapar8d on a going concem basls as th8 Board ol Trustees con51der Ihere are no malarial uncertainties exlslirrfJ that rnay cast significant doubl as lo ils ability to continue as a going concem. In¢omg Income is recognlsed when the charity has enlillement lo the funds, any performance condilions attached lo the ilems ol income have been Mel, il is probable that the income wll be received and the amounl can be measured reliably. Donations and grants are recognised when Ihe Charity has enlillement to the funds and 11 is probable that the Income will be receivoj and the amount can be measured r&liably. Expandiluro Expenditure Is re¢ognlsed on¢e there is a legal or conslruclive obligation lo make a paymenl to a third paity.11 is probable thal settlement wll be requSrgd and tha amounl can be rneasurèd reliably. All eXFenditure is accounted lor on an arual$ Grants payable are payments made lo Ihlrd partigs in the furtherance of the charftable objects ol Iha Charity. Unconditional grant offws are acCrlO once the reoipient has beers nobfied of the grant award. The rDtification gives the rec6pienl a reasonatAe gXPaCtation that they will receive Ihe grant. Suppjrt costs are allocated directly to charitable acbvibes. Value addèd t&% is not recoverable aThl as such is included in the relevanl cosls in the Slalement of Financlal Actiwlies.
SOUTH HAMPSTEAD CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES (CONTINUED) Fund accounting The followlng funds are held by th8 Twsl:_ Unrestricted - these are funds which can be used Sn accordance with the Tnjsl's objects at the discretion ol the truslees. Unreslrciled funds inelude designated funds where the Trustees, al their discrètion, have created a luThJ for a specific wrpose. Reslricled - these are funds that can only be used for particular restricted purposes. Restrictions arise when specified by the donor or whEn funds are raised for particular resMct8d purposes. Tanglble flxed agsets Tangible fixed assets are slatsd al cost. No depreciation charge has been made in respect ol the Leasehold land. Flnanclal Instrurngnts The charity only has financial assets and liabilities ol a kind that qualify as basic financial instrurnents whh include trade and other payables and cash and bank balances. Basic financial instruments are initially re¢ognised al transaction value and subsequently measured al their settlement value. Expandlture on charitsble activities 2024 2023 Support costs (Governance - Nol8 3) Redèvelopment ol Rabbinic Housing unSIrfcIed Funds Restrlclgd Fund$ 9,233 5,878 6,008 6,008 3. SUPPORT COSTS 2024 2023 Governance Accounian¢y Insurance Bank charges 6,0 2,328 2,160 3,846 9,233
SOUTH HAMPSTEAD CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 4. TPJIGIBLE ASSETS prw)erty At 1 January 2024 and at 31 Dember 2W24 No depreciation has been eharoed as It Is the view ol thèTrust8e8 that r85idual vdue ol the property Is Ilkelyto b& at18ast equal to the cost or vall0. In addilK)n to the a$ehOl propety, th8 Twst h8s a potential reversionary intgr851 at nil value at Its prfnc[ plac8 01 business S. DEBTORS Giltaid r8coverablo Prepaym8n18 34 759 1,887 2024 6. CURRENT LIA81LITIES Atnounts falling dug wlhin one year.. A¢¢ruals Oth8r payables 6,900 96.141 3.300 103.041 64,811 7. UNRESTrICTED FUND 0110112024 Incorne ExpOrlIU10 Tronsfers 31112r2tr24 General un1r1¢1ed lunds DoStgnatEd lU- Rabbinic graulude fund 161.772 62,370 19.233) 1100,QOOI 100,QOO 114,909 100,(N)o 161772 9.283 0110112023 In¢iJn* Eyndilu Tianslers 31112a023 Ger81 unrestricted lund5 1.800 6,008 10
SOUTH HAMPSTEAD CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 & AÉSMCTEO FUND 01101A024 IrwmB E¥pendllure 31n2r2024 Redevelwmenl of the Rabbin hou5irvJ fur Stalned a$S[r fund 279,IX)2 15,8781 273,124 28.0 28,000 279,(M)2 ,878 301.124 01101r2023 Income ExpeThlhure Tran818fB 3111212ty23 Slalned E4asswithw fur1 28,OiKI 28,000 g. TrUSTEES AND EMPLOYEES No remurralion was and re Mbr8ed lo th8 Trustees bythe Charityin Ihe yearor Ihe prevvjjs year. Thgo werF no pwsons emplo bylhe Ch4ritydurfng Ihe year or the prevityjs year. 10. RELATED PARTY DIS¢LQSiThIE All tfETnJst8es ofthe Soltth Hamfftad charilab Trust are MerS ofthe SoLrth HatnP5tead Sywtsw8. Ibilh Ih8 excep11 of S Pack. Atthe balartce sheet dale [.1411229.. £81,311) was owwj to Swlh HamF6tead Synaw.