The Charity Registration Number is :- 1067759
The Sephardi Congregation of South Manchester
Report and Accounts
31 December 2020
## **The Sephardi Congregation of South Manchester**
## **Report and accounts for the year ended 31 December 2020**
## **Contents**
||**Page**||
|---|---|---|
|**Charity information**||1|
|**Trustees' Annual Report**||1|
|**Statement of trustees' responsibilities**||6|
|**Independent auditor's report**||7|
|**_Funds Statements:-_**|||
|Statement of Financial Activities||10|
|Statement of Financial Activities - Prior Year statement||11|
|Statement of total recognised gains and losses||12|
|Movements in funds||12|
|Income and Expenditure account||13|
|**Balance sheet**||14|
|**Notes to the accounts**||16|
## **The Sephardi Congregation of South Manchester**
## **Trustees' Annual Report for the year ended 31 December 2020**
The Trustees present their Report and Accounts for the year ended 31 December 2020.
## **Reference and administrative details**
## _**The charity name.**_
The legal name of the charity is:- The Sephardi Congregation of South Manchester.
## _**The charity's areas operation and UK charitable registration.**_
The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW) with charity number 1067759.
## _**Legal structure of the charity**_
The governing document of the charity is the Ascamot adopted 20th May 2007 as amended 16th May 2010 and 13th December 2015.
The trustees are all individuals.
## **The principal operating address, telephone number, email and web addresses of the charity are:-**
24 Wicker Lane Hale Barns, WA15 0HQ Telephone 0161 980 1877 Email Address shaarehayim@clara.co.uk
## **The Trustees in office on the date the report was approved were:-**
Anthony Leon Daniel Betesh David Peppi Anthony M Sultan Reuben Solomon Victor Hassan Jonathan Shasha Stephen Blank Joe Dwek CBE Judge Clement Goldstone QC
1
## **The Sephardi Congregation of South Manchester**
## **Trustees' Annual Report for the year ended 31 December 2020**
## **The following persons served on the Council during the year ended 31 December 2020: -**
|||**_Appointed,_**|
|---|---|---|
|**_Name_**|**_Position_**|**_Resigned/Retired_**|
|Richard Simon|Chairman||
|Stephen Elias|Treasurer||
|Rosalyn Farshi|Hon Secretary||
|Jonathan Shasha|||
|Reuben Solomon|||
|Anthony M Sultan||Resigned 17 May 2020|
|Jonathan Dwek|||
|Tracey Kingsley|||
|Mark Benson|||
|Ben Whiteman||Appointed 11 January 2021|
## **The following persons served on the Presidents Committee during the year ended 31 December 2020: -**
|||**_Appointed,_**|
|---|---|---|
|**_Name_**|**_Position_**|**_Resigned/Retired_**|
|Mike Khodadad|President||
|Rosalyn Farshi|Hon Secretary||
|Victor Hassan|||
|Reuben Solomon|||
|Helena Bower|||
|Shelley Wagon|||
|Howard Sherington|||
|Igal Farshi|||
|Ladan Nosrati|||
|Richard Simon|Council Chairman||
## **Objects and activities of the charity**
## _**The purposes of the charity as set out in its governing document.**_
The principal activity and objectives and activity of the Congregation are to facilitate Jewish Worship in the Sephardi tradition and rituals and other congregational educational and charitable purposes.
The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.
## **The main achievements and performance of the charity during the year.**
Following Rabbi Shlomo Ellituv's retirement we are pleased to note that Rabbi Gabriel Kada was appointed to officiate and conduct services at Queenston Road.
Covid 19 has provided a huge challenge to all places of worship. Your Trustees believe that under the able leadership of Rabbi Amir Ellituv and our Executive that the Congregation has continued to provide strong religious and pastoral support to our members within the limitations of government guidelines.
2
## **The Sephardi Congregation of South Manchester**
## **Trustees' Annual Report for the year ended 31 December 2020**
Real Estate
Our real estate at Wicker Lane, Hale Barns continues to generate an income stream for the Congregation. Two of the three dwellings on the Wicker Lane site are rented out.
The Congregation completed the sale of 6 Queenston Road at a price of £847,500 less costs (this compares with a revalued book figure at 31/12/2019 of £825,000). The proceeds of the sale have been used to pay down part of the Safra Foundation loan.
Further to the resolution passed at the EGM on 8th July 2018, Savills have been appointed as agent to invite plans from experienced developers for the development of the Didsbury site as a whole to include the creation or retention of synagogue facilities. Savills have commenced the marketing of the site and we will be reporting the Congregation once proposals are received and reviewed.
## **Structure, governance and management of the charity**
## _**The methods used to recruit and appoint new charity trustees.**_
The appointment of the original Trustees occurred on the amalgamation of the two original congregations. Trustees are appointed in accordance with the Trust Deed which provides that there shall be at least four Trustees and a maximum of twelve Trustees who shall be appointed by a resolution of the members of the Congregation passed at a general meeting in accordance with the Ascamot. No procedure for nomination of Trustees is prescribed although new Trustees should be members for at least five years and have served at least two years on the Mahamad. In practice new Trustees have been proposed by the existing Trustees. The only specific restriction imposed by the governing document is that the Trustees shall not dispose of or purchase any land or buildings unless authorised by a resolution of the members of the Congregation.
## _**The charity's organisational structure.**_
The Congregation has a two-tier decision making process. The duties or the Council are set out in the Ascamot which was adopted (replacing the previous Ascamot) at an Extraordinary General Meeting of the Congregation held on 20th May 2007 and subsequently amended at an Extraordinary General Meeting of the Congregation held on 16th May 2010 and a subsequent meeting held on 13th December 2015. The Council manages the day to day functions of the Congregation. The Council has responsibility for the business affairs, management and administration of the Congregation. The President's Committee is responsible for religious, cultural and social functions of the Congregation and for all its rituals and ceremonies. The Honorary Officers and President's Committee, and from 2009, half the Council are appointed annually by the Congregation. The assets of the Congregation are vested in the Trustees, who are appointed by the Congregation.
At the Council Meeting held on 20th June 2016, the Council unanimously adopted a formalised modus operandi for the operation of the Yom Kippur Appeal, in order that the Congregation should have greater visibility of the application of funds raised by the Appeal and in accordance with the principles of sound governance.
The donations for this year are listed in note 30 to the accounts.
3
## **The Sephardi Congregation of South Manchester**
## **Trustees' Annual Report for the year ended 31 December 2020**
## _**The charity's relationships with related parties.**_
The Congregation is directly related to the Keren Hatorah Trust, charity number 519517 and the Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews, charity number 500074.
Bankers NatWest plc, PO Box 305, Spring Gardens, Manchester, M60 2DB Lloyds TSB plc, 53 King Street, Manchester, M2 4LQ
## **Financial review**
## _**The charity's financial position at the end of the year ended 31 December 2020**_
The financial position of the charity at 31 December 2020 and comparatives for the prior period, as more fully detailed in the accounts, can be summarised as follows:-
|Restricted Revenue Funds
**Total Funds**
**Net income**
Unrestricted Revenue Funds available for the
general purposes of the charity|**2020**
**£**
118,672
4,053,642
1,456,710
5,510,352|**2019**
**£**
51,537|
|---|---|---|
|||3,965,327
1,426,353|
|||5,391,680|
## _**Financial review of the position at the reporting date, 31 December 2020 .**_
The surplus for the year on the unrestricted funds was £88,315. The combined net movement in funds was a surplus of £118,672. The Congregation remains reliant on unrestricted income from annual subscriptions and voluntary offerings, which amounted to £190,105 (net of bad debts) and donations, legacies and other income which total £125,346.
## _**Policies on reserves.**_
The Congregation aims to hold reserves sufficient to ensure that it is a going concern. Specifically, the Council aims to maintain cash reserves in unrestricted funds at a level which equates to at least three months of expenditure. At the 31 December 2020, the Congregation held £142,497 in cash reserves.
## _**Availability and adequacy of assets of each of the funds**_
The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.
## _**Investment policy and investment objectives.**_
The Trustees may invest the funds in any manner in accordance with the prevailing law in connection with the investment of trust funds. The Council, so enabled by the Trustees, makes all significant investment decisions. All significant cash spend decisions are made by the Council or by the Congregation as required by the Ascamot.
4
## **The Sephardi Congregation of South Manchester**
## **Trustees' Annual Report for the year ended 31 December 2020**
## _**The major risks to which the Charity is exposed and reviews and systems to mitigate them.**_
The Council and Trustees of the Congregation have considered the major risks to which the Congregation is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Trustees do not perceive that the Congregation is vulnerable to any major risks in view of its current financial position.
_**Plans For the Future**_
## **Summary of plans for the future and the trustees' perspective of the future direction of the charity.**
Plans for future periods
Notwithstanding any decision on the future location of services, the Trustees (and Council) are committed to ensuring that there are services available to our members in the Didsbury area, for as long as there is such a requirement and subject to such services being supported by a Minyan. The commitment remains in place up to at least 31 December 2021.
Current Year
The current year has been difficult in the sense that we have had to deal with Covid and the various Lockdowns. We have endeavoured to hold services by Zoom throughout the year where access to the Synagogues was not possible.
We are grateful to both Rabbi Amir and Rabbi Gabriel for their efforts in trying to keep the Congregation together and to Rabbi Amir for the many Zoom Evenings that he arranged for the interest of Congregants.
As we write, we look as though we may return to some form of normality in the second half of 2021.
Thanks, finally to all those people who have helped with Security in both locations which is so vitally important and here mention should be made of Ben Whiteman, Jack Shalom and Peter Hunter.
## **Details of The Auditor**
Langer & Co 8-10 Gatley Road Cheadle Cheshire SK8 1PY
## **Statement as to disclosure of information to auditors**
The trustees state that so far as each of the trustees at the time this report was approved are aware:a) There is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the auditors are unaware, and
b) The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and establish that the auditors are aware of that information.
5
## **The Sephardi Congregation of South Manchester**
## **Trustees' Annual Report for the year ended 31 December 2020**
## **Statement of Trustees' Responsibilities**
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities Act 2011 and the Charities (Accounts and Reports) Regulations 2008. Notwithstanding the explicit requirement in the extant statutory regulations,the Charities (Accounts and Reports) Regulations 2008, to prepare the financial statements in accordance with the SORP 2005, in view of the fact that the SORP 2005 has been withdrawn, the Trustees determined to interpret this responsibility as requiring them to follow current best practice and prepare the accounts according to the FRS 102 SORP (Statement of Recommended Practice for Accounting and Reporting by Charities) 2015, (as amended by the Bulletin issued in October 2018 and applicable to all accounting periods beginning on or after 1st January 2019), (The SORP), .
In particular, charity law requires the Trustees, if they prepare accounts on an accruals basis, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Trustees are required to :-
- to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business;
- state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
The law requires that the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for the year.
The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with regulations made under 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.
The Trustees are also responsible for the contents of the Trustees' report, and the statutory responsibility of the auditor in relation to the Trustees' report is limited to examining the report and ensuring that , the report is consistent with the figures disclosed in the financial statements.
5 May 2021
This report was approved by the board of trustees on …............................
**…........................... Anthony Leon Chairman of the Trustees**
…........................... **Richard Simon Chairman of Council**
6
**The Sephardi Congregation of South Manchester**
## **Independent auditors' report to the trustees of The Sephardi Congregation of South Manchester**
## **Opinion**
We have audited the financial statements of The Sephardi Congregation of South Manchester for the year ended 31 December 2020 which comprise the Statement of Financial Activities, the Balance Sheet, and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
In our opinion the financial statements:
- give a true and fair view of the state of the charity's affairs as at 31 December 2020, and of its incoming resources and
- ● application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
7
**The Sephardi Congregation of South Manchester**
## **Independent auditors' report to the trustees of The Sephardi Congregation of South Manchester**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- adequate accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of trustees**
As explained more fully in the Trustees' Responsibilities Statement set out on page 6, the trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditors under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
## **Identifying and assessing potential risks related to irregularities**
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
- Enquiries of management, including obtaining and reviewing supporting documentation, concerning policies and procedures relating to:
- -identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-
- ● compliance -detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud; and
- -the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- remuneration policies, key drivers for remuneration and bonus levels; and Discussions among the engagement team regarding how and where fraud might occur in the financial statements and
- ● any potential indicators of fraud. The engagement team have experience of working with companies and this experience was relevant to the discussion about where fraud risks may arise.
In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory framework that the charity operates in. The key laws and regulations we considered in this context included the Charities Act 2011 and FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
8
**The Sephardi Congregation of South Manchester**
## **Independent auditors' report to the trustees of The Sephardi Congregation of South Manchester**
## **Audit response to risks identified**
As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or noncompliance with laws and regulations.
In addition to the above, our procedures to respond to risks identified included the following:
- Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with
- ● provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- Enquiring of management concerning actual and potential litigation and claims; Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material
- ● misstatement due to fraud;
- Reading minutes of meetings of those charged with governance and reviewing correspondence with relevant
- ● authorities including Charity Commission and HMRC ;
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a
- ● potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## 5 May 2021
**…........................... …........................... Langer & Co Date Chartered Accountant and 8-10 Gatley Road Statutory Auditor Cheadle Cheshire SK8 1PY**
Langer & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006
9
## **The Sephardi Congregation of South Manchester - Statement of Financial Activities for the year ended 31 December 2020**
## _**Statement of Financial Activities for the year ended 31 December 2020**_
|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
**Income & Endowments from:**
Donations & Legacies
23
A1
329,857
Charitable activities
24
A2
27,680
Other trading activities
26
A3
-
Investments
27
A4
23,454
Other
28
A5
18,238
**Total income**
**A**
**399,229**
**Expenditure on:**
Raising funds
B1
20
Charitable activities
_33_
B2
310,894
**Total expenditure**
**B**
**310,914**
6
B4
-
**Net income for the year**
**88,315**
**Net income after transfers**
**A-B-C**
**88,315**
**Net movement in funds**
**88,315**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
3,965,327
**Total funds carried forward**
**4,053,642**
Net gains/(losses) on
investments
**Notes SORP**
**Ref**|**Current year**
**Restricted**
**Funds**
**2020**
**£**
40,784
-
-
307
-
**41,091**
-
10,488
**10,488**
(246)
**30,357**
**30,357**
**30,357**
1,426,353
**1,456,710**|**Current year**
**Total Funds**
**2020**
**£**
**370,641**
**27,680**
**-**
**23,761**
**18,238**
**440,320**
**20**
**321,382**
**321,402**
**(246)**
**118,672**
**118,672**
**118,672**
**5,391,680**
**5,510,352**|**Prior Year**
**Total Funds**
**2019**
**£**
351,988
50,880
92
26,217
-|
|---|---|---|---|
||||**429,177**|
||||-
377,636|
||||**377,636**|
||||(4)|
||||**51,537**|
||||**51,537**|
||||**51,537**
5,340,143|
||||**5,391,680**|
The 'SORP Ref' indicated above is the classification of income set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the Balance Sheet.
A Statement of Total Recognised Gains and Losses is included as a primary statement in these accounts.
All activities derive from continuing operations
**The notes attached on pages 16 to 31 form an integral part of these accounts.**
10
## **The Sephardi Congregation of South Manchester - Statement of Financial Activities for the year ended 31 December 2020**
## **The Sephardi Congregation of South Manchester - Analysis of prior year total funds, as required by paragraph 4.2 of the SORP**
|**Income & Endowments from:**
Donations & Legacies
A1
Charitable activities
A2
Other trading activities
A3
Investments
A4
Other
A5
**Total income**
**A**
**Expenditure on:**
Raising funds
B1
Charitable activities
B2
**Total expenditure**
**B**
B4
**Net income for the year**
**Transfers between funds**
**C**
**Net income after transfers**
**Net movement in funds**
**Reconciliation of funds:-**
**E**
**Total funds brought forward**
**Total funds carried forward**
**SORP**
**Ref**
Net gains/(losses) on
investments|**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
274,054
50,880
92
25,786
-
350,812
-
352,626
**352,626**
-
(1,814)
-
(1,814)
**(1,814)**
3,967,140
**3,965,326**
|**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
77,933
-
-
431
-
78,364
-
25,010
**25,010**
(4)
53,350
-
53,350
**53,350**
1,373,003
**1,426,353**|**Prior Year**
**Total Funds**
**2019**
**£**
**351,988**
**50,880**
**92**
**26,217**
**-**|
|---|---|---|---|
||||**429,177**|
||||**-**
**377,636**|
||||**377,636**|
||||(4)
51,537
**-**|
||||51,537|
||||**51,537**
**5,340,143**|
||||**5,391,680**|
## **All activities derive from continuing operations**
A Statement of Total Recognised Gains and Losses is included in these accounts as a separate primary statement
**The notes attached on pages 16 to 31 form an integral part of these accounts.**
11
## **The Sephardi Congregation of South Manchester - Statement of Financial Activities for the year ended 31 December 2020**
## **Statement of Total Recognised Gains and Losses for the year ended 31 December 2020**
|**2020**
**2019**
**£**
**£**
**Surplus for the year :-**
Net excess of income over expenditure from operations before tax
100,680
51,541
Realised net gains/(losses)
18,238
-
**118,918**
**51,541**
**_Add/(deduct) non income and expenditure items:-_**
Unrealised gains/(losses) on investments
(246)
(4)
**Net Movement in funds before taxation**
**118,672**
**51,537**
**118,672**
**51,537**
**2020**
**2019**
**£**
**£**
Funds generated in the year as detailed in the SOFA
118,672
51,537
Resources applied on functional fixed assets
(1,530)
-
**Net resources available to fund charitable activities**
**117,142**
**51,537**
**The Sephardi Congregation of South Manchester - Resources applied in the year ended 31 December**
**2020 towards fixed assets for Charity use:-**
**_Income from operations before tax in the Statement of Financial_**
**_Activites_**
**Funds generated in the year as shown on Statement of Financial**
**Activities**|**2020**
**£**
100,680
18,238
**118,918**
(246)
**118,672**
**118,672**|**2019**
**£**
51,541
-|
|---|---|---|
|||**51,541**
(4)|
|||**51,537**|
|||**51,537**|
||||
|||**51,537**|
**Movements in revenue and capital funds for the year ended 31 December 2020**
## **Revenue accumulated funds**
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2020**
**2020**
**£**
**£**
Accumulated funds brought forward
3,965,327
1,426,353
88,315
30,357
**4,053,642**
**1,456,710**
**Closing revenue funds**
**4,053,642**
**1,456,710**
**Summary of funds**
**Unrestricted**
**Restricted**
**and**
**Funds**
**Designated funds**
**2020**
**2020**
**£**
**£**
Revenue accumulated funds
4,053,642
1,456,710
Recognised gains and losses
before transfers|**Total**
**Funds**
**2020**
**£**
5,391,680
118,672
**5,510,352**
**5,510,352**
**Total**
**Funds**
**2020**
**£**
**5,510,352**|**Last year**
**Total Funds**
**2019**
**£**
**5,340,143**
51,537|
|---|---|---|
|||**5,391,680**|
|||**5,391,680**|
|||**Last Year**
**Total Funds**
**2019**
**£**
5,391,680|
**The notes attached on pages 16 to 31 form an integral part of these accounts.**
12
## **The Sephardi Congregation of South Manchester - Statement of Financial Activities for the year ended 31 December 2020**
## **The Sephardi Congregation of South Manchester**
## **Income and Expenditure Account for the year ended 31 December 2020 as required by the Companies Act 2006**
|**_Income_**
Income from operations
Income from investments, other than interest receivable
Interest receivable
**Gross income in the year before exceptional items**
**_Exceptional items:_**
Realised gains and losses disposal of property
**Gross income in the year including exceptional items**
**_Expenditure_**
Charitable expenditure, excluding depreciation and amortisation
Depreciation and amortisation
Fundraising costs
Governance costs
**Total expenditure in the year**
**Net income before tax in the financial year**
Tax on surplus on ordinary activities
**Net income after tax in the financial year**
**Retained surplus for the financial year**
Investment income|**2020**
**£**
398,320
23,664
98
**422,082**
**18,238**
**440,320**
314,855
1,607
20
4,920
**321,402**
**118,918**
-
**118,918**
**118,918**|**2019**
**£**
402,960
26,019
198|
|---|---|---|
|||**429,177**
**-**|
|||**429,177**|
|||369,159
3,557
-
4,920|
|||**377,636**|
|||**51,541**
-|
|||**51,541**|
|||**51,541**|
All activities derive from continuing operations
In accordance with the provisions of the Companies Act 2006, the headings and subheadings used in the Income and Expenditure account have been adapted to reflect the special nature of the charity's activities.
## **The notes attached on pages 16 to 31 form an integral part of these accounts.**
13
## **The Sephardi Congregation of South Manchester - Balance Sheet as at 31 December 2020**
|Notes
**SORP**
**Ref**
**2020**
**2019**
**£**
**£**
**Fixed assets**
A
Tangible assets
11
A2
5,687,484
5,687,561
Investments held as fixed assets
12
A4
960,717
1,785,963
**Total fixed assets**
6,648,201
7,473,524
**Current assets**
B
Debtors
13
B2
103,167
95,841
Cash at bank and in hand
B4
142,497
91,278
**Total current assets**
245,664
187,119
**Creditors: amounts falling due within**
**one year**
14
C1
(983,513)
(1,268,963)
**Net current assets**
(737,849)
(1,081,844)
5,910,352
6,391,680
Creditors: amounts falling due after more
than one year
15
C2
(400,000)
(1,000,000)
**The total net assets of the charity**
**5,510,352**
**5,391,680**
**Restricted funds**
Restricted Revenue Funds
19
D2
1,456,710
1,426,353
1,456,710
1,426,353
**Unrestricted Funds**
Unrestricted Revenue Funds
19
D3
4,053,642
3,965,327
4,053,642
3,965,327
**Total charity funds**
**5,510,352**
**5,391,680**
**The total net assets of the charity are funded by the funds of the charity, as follows:-**
**_Net assets_**|95,841
91,278|**2019**
**£**
5,687,561
1,785,963|
|---|---|---|
|||6,391,680
(1,000,000)|
|||**5,391,680**|
|||1,426,353
3,965,327|
|||**5,391,680**|
The 'SORP Ref' indicated above is the classification of Balance Sheet items as set out in the formal SORP documents. As required by paragraph 4.60 of the SORP, the brought forward and carried forward funds above have been agreed to the SOFA..
The Trustees acknowledge their responsibilities for complying with the requirements of charity legislation with respect to accounting records and the preparation of accounts.
The charity is subject to audit under charity legislation, and the report of the Charities Act auditor is on page 9.
14
## **The Sephardi Congregation of South Manchester - Balance Sheet as at 31 December 2020**
The Trustees are satisfied that, although the charity is not registered under the Companies Acts, if it were so registered, it would be eligible to prepare accounts in accordance with the provisions in Part 15 of the Companies Act 2006. applicable to companies subject to the small companies regime.
…........................... …........................... **Anthony Leon Richard Simon Chairman of the Trustees Chairman of Council** Approved by the board of trustees on …...........................5 May 2021
**The notes attached on pages 16 to 31 form an integral part of these accounts.**
15
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **1 Accounting policies**
## _**Policies relating to the production of the accounts.**_
## **Basis of preparation and accounting convention**
The accounts have been prepared on the accruals basis, under the historical cost convention, and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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), Charities SORP(FRS102), as amended by Update Bulletin 1.
The accounts have been prepared in accordance with applicable charity law in England this being the Charities Act 2011 and SI 2008/629 (Charities Accounting and Reporting Regulations) and, pending the making of replacement Regulations specific to Charities SORP (FRS102) in accordance with Reg.8(4)(d) of SI 2008/629, the charity trustees have departed from the requirement of Reg.8(5) by following Charities SORP (FRS102) instead of Charities SORP (FRSSE) to the extent necessary to give a true and fair view in the circumstances.
## **Going Concern**
The Trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements.
## **Risks and future assumptions**
The charity constitutes a public benefit entity as defined by FRS102.
The charity is an unincorporated trust registered in England. The principal address of the charity is 24 Wicker Lane, Hale Barns, WA15 0HQ.
## _**Policies relating to categories of income and income recognition.**_
## **Nature of income**
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.
16
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **Recognition of liabilities and expenditure**
A liability, and the related expenditure, is recognised when a legal or constructive obligation exists as a result of a past event, and when it is more likely than not that a transfer of economic benefits will be required in settlement, and when the amount of the obligation can be measured or reliably estimated.
Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them.
## _**Policies relating to assets, liabilities and provisions and other matters.**_
## **Fixed Asset Investments**
Fixed asset investments in quoted shares, traded bonds, investment properties and similar investments are shown initially at cost upon acquisition and at their market value at the balance sheet date at the end of the financial period. Investment properties are not depreciated.
All gains on fixed asset investments, whether realised or unrealised, are included in row B4 of the Statement of Financial Activities.
## _**Tangible fixed assets**_
Tangible fixed assets are measured at their original cost value, or subsequent revaluation, or if donated, as described above. Cost value includes all costs expended in bringing the asset into its intended working condition.
Depreciation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful lives.
Freehold premises 0 % straight line Plant, machinery, fixtures and fittings 33 & 15 % straight line
## **Financial instruments including cash and bank balances**
The Congregation has basic financial instruments and a concessionary loan. These are initially recognised at transaction value and subsequently measured at their settlement value.
## **Pensions - defined contribution schemes**
The charity operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
There are no designated funds.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal or as implied by law.
There are no endowment funds.
## **2 Liability to taxation**
The Trustees consider that the charity satisfies the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by chapter 3 part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively on the specific charitable objects of the charity and for no other purpose. Value Added Tax is not recoverable by the charity, and is therefore included in the relevant costs in the Statement of Financial Activities.
17
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020 3 Winding up or dissolution of the charity**
If upon winding up or dissolution of the charity there remain any assets, after the satisfaction of all debts and liabilities, the assets represented by the accumulated fund shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **4 Significance of financial instruments to the charity's position**
The Congregation has a concessionary loan from the Safra Foundation. The loan is interest free. The loan outstanding at 31 December 2020 is £400,000 and is repayable in a single instalment on 31 May 2026. If repayment is not made on time the loan converts to an investment and a profit not exceeding 5% shall accrue.
## **5 Net surplus before tax in the financial year**
|**Net surplus before tax in the financial year**|||
|---|---|---|
||**2020**|**2019**|
||**£**|**£**|
|The net surplus before tax in the financial year is stated after charging:-|||
|Depreciation of owned fixed assets|1,607|3,557|
|Pension costs|1,236|1,185|
|Auditors' remuneration|4,920|4,920|
- **6 Investment gains**
|**Current year**
**_Current Year_**
**Unrestricted**
**Funds**
**2020**
**£**
**_Unrealised gains /(losses) and writing down of carrying values_**
Listed investments - Unrealised
-
Other Unlisted Investments - Unrealised
-
Investment properties - Unrealised
-
**Total unrealised gains/(losses) etc**
**-**
**Total realised and unrealised gains**
**-**
**_Prior year_**
**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
**_Unrealised gains /(losses) and writing down of carrying values_**
Listed investments - Unrealised
-
Other Unlisted Investments - Unrealised
-
Investment properties - Unrealised
-
**Total unrealised gains/(losses) etc**
**-**
**Total realised and unrealised gains**
**-**|**Current year**
**_Current Year_**
**Unrestricted**
**Funds**
**2020**
**£**
**_Unrealised gains /(losses) and writing down of carrying values_**
Listed investments - Unrealised
-
Other Unlisted Investments - Unrealised
-
Investment properties - Unrealised
-
**Total unrealised gains/(losses) etc**
**-**
**Total realised and unrealised gains**
**-**
**_Prior year_**
**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
**_Unrealised gains /(losses) and writing down of carrying values_**
Listed investments - Unrealised
-
Other Unlisted Investments - Unrealised
-
Investment properties - Unrealised
-
**Total unrealised gains/(losses) etc**
**-**
**Total realised and unrealised gains**
**-**|**Current year**
**Restricted**
**Funds**
**2020**
**£**
(361)
115
-|**Current year**
**Total Funds**
**2020**
**£**
**(361)**
**115**
**-**|**Prior Year**
**Total Funds**
**2019**
**£**
**(158)**
**154**
**-**|
|---|---|---|---|---|
||**-**|**(246)**|**(246)**|**(4)**|
||**-**|**(246)**|**(246)**|**(4)**|
|||**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
(158)
154
-|**Prior Year**
**Total Funds**
**2019**
**£**
**(158)**
**154**
**-**||
||**-**|**(4)**|**(4)**||
||**-**|**(4)**|**(4)**||
18
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **7 Staff costs and emoluments**
|**_Salary costs_**
**2020**
**£**
116,472
Employer's National Insurance for all staff
1,595
1,236
**Total salaries, wages and related costs**
**119,303**
**_Numbers of full time employees or full time equivalents_**
**2020**
The average number of total staff employed in the year was
6
The estimated full time equivalent number of all staff employed in the year was
6
**_The estimated equivalent number of full time staff deployed in different activities in the year was:-_**
Engaged on charitable activities
6
**_The estimated full time equivalent number of all staff employed as above_**
6
Gross Salaries and Self Employment excluding trustees and key management personnel
Employer's operating costs of defined contribution pension schemes|**2020**
**£**
116,472
1,595
1,236|**2019**
**£**
107,415
4,824
1,185|
|---|---|---|
||**119,303**|**113,424**|
||**2020**
6|**2019**
7|
|||5
5|
||6|5|
Neither the trustees nor any persons connected with them have received any remuneration from the charity or any related entity, either in the current or prior year.
No employees received emoluments (excluding pension costs) in excess of £60,000 per annum.
## **8 Defined contribution pension schemes**
The charity operates a defined contribution pension scheme, the costs of which are shown above.
## **9 Remuneration and payments to Trustees and persons connected with them**
No trustees or persons connected with them received any remuneration from the charity, or any related entity.
## **10 Deferred income - Unrestricted and Designated funds**
|**_Current Year_**
General Fund
**Total**
**These deferrals are included in creditors**
**_Prior Year_**
General Fund
**Total**
**These deferrals are included in creditors**|**Opening**
**Deferrals**
**£**
80,675|**Released**
**from prior**
**years**
**£**
80,675|**Received**
**less released**
**in year**
**£**
83,886|**Deferred**
**at year end**
**£**
83,886|
|---|---|---|---|---|
||80,675|80,675|83,886|83,886|
||**Opening**
**Deferrals**
**£**
78,847|**Released**
**from prior**
**years**
**£**
78,847|**2020**
**£**
83,886|**2019**
**£**
80,675|
||||**Received**
**less released**
**in year**
**£**
80,675|**Deferred**
**at year end**
**£**
80,675|
||78,847|78,847|80,675|80,675|
||||**2019**
**£**
80,675|**2018**
**£**
78,847|
The deferrals included in creditors are in respect of annual membership subscriptions and for events that do not take place before the year end.
19
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **11 Tangible fixed assets**
|**_Current Year_**
**Cost**
At 1 January 2020
Additions
**At 31 December 2020**
**Depreciation**
At 1 January 2020
Charge for the year
**At 31 December 2020**
**Net book value**
**At 31 December 2020**
**At 31 December 2019**
**_Prior Year_**
**Cost**
01 January 2019
**01 January 2020**
**Depreciation**
01 January 2019
Charge for the year
**01 January 2020**
**Net book value**
**01 January 2020**
**01 January 2019**
**12 Investments held as fixed assets**
**Carrying values of investments**
At 1 January 2020
Revaluation at 31 December 2020
Disposals
**At 31 December 2020**
**Analysis between fair value and historical cost**
Investments as above held at fair value|**Land and**
**Buildings**
£
5,683,772
1,530|**Plant &**
**Machinery**
£
40,737
-|**Other**
**Classes of**
**Investment**
**£**
**1,784,964**
**115**
**(825,000)**|**Total**
£
5,724,509
1,530|
|---|---|---|---|---|
||**5,685,302**|**40,737**||**5,726,039**|
||-
-|36,948
1,607||36,948
1,607|
||**-**|**38,555**||**38,555**|
||**5,685,302**|**2,182**||**5,687,484**|
||||||
||**5,683,772**|**3,789**||**5,687,561**|
||**Land and**
**Buildings**
£
5,683,772|**Plant &**
**Machinery**
£
40,737||**Total**
£
5,724,509|
||**5,683,772**|**40,737**||**5,724,509**|
||-
-|33,391
3,557||33,391
3,557|
||**-**|**36,948**||**36,948**|
||**5,683,772**|**3,789**||**5,687,561**|
||||||
||**5,683,772**|**7,346**||**5,691,118**|
|||**Listed**
**investments**
**£**
999
(361)
-||**Total**
**£**
1,785,963
(246)
(825,000)|
|||**638**|**960,079**|**960,717**|
|||638|960,079|960,717|
20
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **Analysis of Other Classes of Investment**
|**Investment properties**
At 1 January 2020
Disposals
**At 31 December 2020**
**Other investments**
At 1 January 2020
Revaluation at 31 December 2020
**At 31 December 2020**
**Summary of other classes of investments at 31 December 2020**
Investment properties
Other investments
**13 Debtors**
Trade debtors
Prepayments and accrued income
Other debtors
**14 Creditors: amounts falling due within one year**
Bank loans and overdrafts
Trade creditors
Accruals
Deferred Income - Unrestricted & designated funds
PAYE, NIC VAT and other taxes
Other creditors
**15 Creditors: amounts falling due after one year**
Loans and overdrafts
The investment properties has been valued at open market value by the treasurer.|**Included at**
**fair value**
**£**
1,775,000
(825,000)|**Total**
**£**
**1,775,000**
**(825,000)**|
|---|---|---|
||**950,000**|**950,000**|
||9,810
154|**9,810**
154|
||**9,964**|**9,964**|
||**950,000**
**9,964**|**950,000**
**9,964**|
||**960,079**|**960,079**|
||**2020**
**£**
84,572
16,745
1,850|**2019**
**£**
72,500
20,091
3,250|
||**103,167**|**95,841**|
||**2020**
**£**
-
690,399
206,959
83,886
-
2,269|**2019**
**£**
300,000
686,435
199,634
80,675
-
2,219|
||**983,513**|**1,268,963**|
||**2020**
**£**
400,000|**2019**
**£**
1,000,000|
||**400,000**|**1,000,000**|
21
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020 16 Concessionary loans**
## _**Loans made and owing to the charity included in debtors**_
|Aggregate amount of concessionary loans due within one year
Aggregate amount of concessionary loans due after more than one year
**Total**|**2020**
**£**
-
400,000|**2019**
**£**
300,000
1,000,000|
|---|---|---|
||**400,000**|**1,300,000**|
The Congregation has a concessionary loan from the Safra Foundation. The loan is interest free. The loan outstanding at 31 December 2020 is £400,000 and is repayable in a single instalment on 31 May 2026. If repayment is not made on time the loan converts to an investment and a profit not exceeding 5% shall accrue.
## **17 Related party transactions**
The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews During the period the Congregation received a donation of £56,740 (31 December 2019 £30,200) for the General Fund from The Conjoint Board of Elders of the Manchester Congregations of Spanish and Portuguese Jews, charity number 500074, a trust it is associated with through a common trustee and whose trustees are appointed by the Congregation jointly with The Manchester Congregation of Spanish and Portuguese Jews (Shaare Tefillah).
## Higham Construction Limited
The Congregation paid Higham Construction Limited, company number 03179347 and of which a council member is a director and shareholder, payments totalling £3,206 in respect of the works on the new synagogue and maintenance at the congregations' properties (31 December 2019 £5,773). At 31 December 2020 £183,821 was accrued (31 December 2019 £182,809) and £670,313 was within trade creditors (31 December 2019 £670,378).
## **18 Particulars of how particular funds are represented by assets and liabilities**
|**At 31 December 2020**
Tangible Fixed Assets
Investments at valuation:-
_Fixed asset investments_
Current Assets
Current Liabilities
Long Term Liabilities
**At 1 January 2020**
Tangible Fixed Assets
Investments at valuation:-
Fixed asset investments
Current Assets
Current Liabilities
Long Term Liabilities|**Unrestricted**
**funds**
**£**
1,362,732
950,000
1,873,685
(132,775)
-|**Designated**
**funds**
**£**
-
-
-
-
-|**Restricted**
**funds**
**£**
4,324,752
10,717
(1,628,021)
(850,738)
(400,000)|**Total**
**Funds**
**£**
**5,687,484**
**960,717**
**245,664**
**(983,513)**
**(400,000)**|
|---|---|---|---|---|
||**4,053,642**|**-**|**1,456,710**|**5,510,352**|
||**Unrestricted**
**funds**
**£**
1,362,809
1,775,000
945,743
(118,225)
-|**Designated**
**funds**
**£**
-
-
-
-
-|**Restricted**
**funds**
**£**
4,324,752
10,963
(758,624)
(1,150,738)
(1,000,000)|**Total**
**Funds**
**£**
**5,687,561**
**1,785,963**
**187,119**
**(1,268,963)**
**(1,000,000)**|
||**3,965,327**|**-**|**1,426,353**|**5,391,680**|
22
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **19 Change in total funds over the year as shown in Note 18 , analysed by individual funds**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
**Total unrestricted and designated funds**
**_Restricted funds:-_**
Yom Kippur Appeal
Shaare Rahamin Charitable Trust
Webber Fund
Hale Synagogue Building Fund
Pre Barmitzvah Haftorah
Esther Ellituv Prize Fund
**Total restricted funds**
**Total charity funds**|**Funds**
**brought**
**forward from**
**2019**
**£**
3,965,327|**Movement in**
**funds in**
**2020**
**See Note 20**
**£**
88,315|**Transfers**
**between**
**funds in**
**2020**
**£**
**-**|**Funds**
**carried**
**forward to**
**2021**
**£**
**4,053,642**|
|---|---|---|---|---|
||**3,965,327**|**88,315**|**-**|**4,053,642**|
||29,631
19,919
11,081
1,361,299
1,173
3,250|5,282
(306)
356
25,000
25
-|-
-
-
-
-
-|**34,913**
**19,613**
**11,437**
**1,386,299**
**1,198**
**3,250**|
||**1,426,353**|**30,357**|**-**|**1,456,710**|
||||||
||**5,391,680**|**118,672**|**-**|**5,510,352**|
## **20 Analysis of movements in funds over the year as shown in Note 19**
|**_Unrestricted and designated funds:-_**
Unrestricted Revenue Funds
**_Restricted funds:-_**
Yom Kippur Appeal
Shaare Rahamin Charitable Trust
Webber Fund
Hale Synagogue Building Fund
Pre Barmitzvah Haftorah|**Income**
**2020**
**£**
399,229
15,795
55
241
25,000
-|**Expenditure**
**2020**
**£**
(310,914)
(10,513)
-
-
-
25|**Other**
**Gains &**
**Losses**
**2020**
**£**
-
-
(361)
115
-
-|**Movement**
**in funds**
**2020**
**£**
**88,315**
**5,282**
**(306)**
**356**
**25,000**
**25**|
|---|---|---|---|---|
||**440,320**|**(321,402)**|**(246)**|**118,672**|
Gains and losses are detailed in note 6
23
**The Sephardi Congregation of South Manchester**
## **Notes to the Accounts for the year ended 31 December 2020**
## **21 The purposes for which the funds as detailed in note 19 are held by the charity are:-**
## _**Unrestricted and designated funds:-**_
|**_Unrestricted and designated funds:-_**||
|---|---|
|Unrestricted Revenue Funds|These funds are held for the meeting the objectives of the charity, and to|
||provide reserves for future activities, and , subject to charity legislation, are|
||free from all restrictions on their use.|
|**_Restricted funds:-_**||
|Yom Kippur Appeal|The monies collected at Yom Kippur which are held on trust for onward|
||donation do not form part of the congregation's general fund.|
|Shaare Rahamin Charitable Trust|To make loans to poor or necessitous Jews, to make grants to poor or|
||necessitous Jews on apprenticeship to any trade, profession or honourable|
||vocation to enable them to qualify or on marriage of for such other purposes|
||the trustees think proper and for any other charitable purposes in such|
||manner and on such terms as the trustees in their absolute discretion think|
||proper provided always that a preference is given to the members of the|
||Withington Congregation of Spanish and Portuguese Jews and their|
||families.|
|Webber Fund|In 1984 the Webber family made a donation of £5,000 to The Withington|
||Congregation of Spanish and Portuguese Jews in memory of the late Mr.|
||Alfred D. Webber. The sum was to be invested, and the income was to be|
||used for the purchase of bar- and bat- mitzvah presentations. The term of|
||endowment came to an end in January 2006 and a transfer from|
||endowment funds to restricted funds was made to reflect this.|
|Hale Synagogue Building Fund|To be used for building the new synagogue in Hale.|
|Pre Barmitzvah Haftorah|Fund established from donations received from Rabbi Levy and the|
||Rabbincal Council. A gift of £25 to be paid to all boys who read the haftorah|
||before their barmitzvah.|
|Esther Ellituv Prize Fund|Fund established on receipt of a legacy.|
## **22 Ultimate controlling party**
The charity is under the control of its legal members.
24
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
## _**This analysis is classsified by conventional nominal descriptions and not by activity.**_
|**23**
**Donations, Grants and Legacies**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2020**
**2020**
**£**
**£**
**Donations and gifts from individuals**
26,935
15,784
33,250
25,000
**60,185**
**40,784**
**Donations and gifts from individuals (Include HMRC refunds on gift aided donations)**
**Prior Year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2019**
**2019**
**£**
**£**
**Prior year**
**40,592**
**77,933**
**Legacies receivable**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2020**
**2020**
**£**
**£**
-
-
-
-
**-**
**-**
All legacies in prior year were unrestricted
**Legacies receivable - Prior Year analysis**
**Prior Year**
**Prior Year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2019**
**2019**
**£**
**£**
**Prior year**
5,200
-
**Revenue grants from government and public bodies**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2020**
**2020**
**£**
**£**
14,406
-
**14,406**
**-**
**Current year**
**Current year**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**2020**
**2020**
**£**
**£**
1,100
-
56,740
-
7,321
-
**65,161**
**-**
**Total public sector revenue grants**
Board of Elders
Small grants individually less than £1000
**Total private sector revenue grants**
CST
Legacies over £1000
**Total donations and gifts from**
**individuals**
Small legacies individually less than £1000
Furlough
Small donations individually less than £1000
Donations over £1000
**Revenue grants and donations from non public bodies**
**Total legacies receivable**|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
26,935
33,250|**Current year**
**Restricted**
**Funds**
**2020**
**£**
15,784
25,000|**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2020**
**2019**
**£**
**£**
**42,719**
63,525
**58,250**
55,000
**100,969**
**118,525**
**- Prior Year analysis**
**Prior Year**
**Total Funds**
**2019**
**£**
**118,525**
**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2020**
**2019**
**£**
**£**
**-**
700
**-**
4,500
**-**
**5,200**
**Prior Year**
**Total Funds**
**2019**
**£**
**5,200**
**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2020**
**2019**
**£**
**£**
**14,406**
-
**14,406**
**-**
**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2020**
**2019**
**£**
**£**
**1,100**
1,100
**56,740**
30,200
**7,321**
6,644
**65,161**
**37,944**|**Prior Year**
**Total Funds**
**2019**
**£**
63,525
55,000|
|---|---|---|---|---|
||**60,185**|**40,784**||**118,525**|
||**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
-
-|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
-|||
||**-**|**-**||**5,200**|
||**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
5,200|**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
-||**Prior Year**
**Total Funds**
**2019**
**£**
-|
||**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
14,406|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-|||
||**14,406**|**-**||**-**|
||**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
1,100
56,740
7,321
|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
-
-||**Prior Year**
**Total Funds**
**2019**
**£**
1,100
30,200
6,644|
||**65,161**|**-**||**37,944**|
All private sector revenue grants in prior year were unrestricted
25
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
## **Membership subscriptions as donations**
|**Membership subscriptions as donations**|||||
|---|---|---|---|---|
|All membership subscriptions as donations in prior year wer
**Total Donations, Grants and**
**Legacies**
**A1**
**_Prior year_**
**Total Donations, Grants and**
**Legacies**
**A1**
**Income from charitable activities - Trading Activities**
**_Current year_**
**Primary purpose and ancillary trading**
**Membership subscriptions as donations**
Hale Minyan Contribution
Report Patronage
Special Events
Purim
Wedding Fees
Barmitzvah Lessons
Prayer Books
Ladies Guild
Hire of Hall
**Total Primary purpose and ancillary trading**|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
190,105|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-|**Current year**
**Total Funds**
**2020**
**£**
190,105
**370,641**
**Prior Year**
**Total Funds**
**2019**
**£**
**351,987**
**Current year**
**Total Funds**
**2020**
**£**
**200**
**-**
**750**
**7,226**
**2,750**
**13,465**
**1,244**
**-**
**2,045**
**27,680**|**Prior Year**
**Total Funds**
**2019**
**£**
190,318|
||e unrestricted||||
||**329,857**|**40,784**||**351,987**|
||**Unrestricted**
**Funds**
**2019**
**£**|**Restricted**
**Funds**
**2019**
**£**||**Prior Year**
**Total funds**
**2019**
**£**
725
217
2,000
24,421
6,078
3,803
10,996
840
1,800|
||**274,054**|**77,933**|||
||**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
200
-
750
7,226
2,750
13,465
1,244
-
2,045|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
-
-
-
-
-
-
-
-|||
||**27,680**|**-**||**50,880**|
## **24 Income from charitable activities - Trading Activities**
All primary purpose and ancilliary trading in prior year were unrestricted
## **25 Total Income from charitable activities**
|**_Current year_**
Total income from charitable trading
**Total from charitable activities**
**A2**|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
27,680|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-|**Current year**
**Total Funds**
**2020**
**£**
**27,680**
**27,680**|**Prior Year**
**Total Funds**
**2019**
**£**
50,880|
|---|---|---|---|---|
||**27,680**|**-**||**50,880**|
26
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
## **26 Income from other, non charitable, trading activities**
|**Total from other activities**
**A3**
Basil Jeuda
Mellman Cook Book|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
-
-|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
-|**Current year**
**Total Funds**
**2020**
**£**
**-**
**-**
**-**|**Prior Year**
**Total Funds**
**2019**
**£**
82
10|
|---|---|---|---|---|
||**-**|**-**||**92**|
All income from other, non charitable, tradings activities in prior year was unrestricted
## **27 Investment income**
|Property Rental Income
Dividend Income
Bank Interest Receivable
Non Bank interest receivable
Charibond Income
Keren Hatorah Income
**Total investment income**
**A4**
**Investment income - Prior Year analysis**
**Prior Year**
**28 Other income and gains**
**_Current year_**
**Summary of Realised Gains**
**Total other income**
**A5**
Realised gains and losses disposal of
property|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
22,700
-
49
-
-
705|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
18
48
-
241
-|**Current year**
**Total Funds**
**2020**
**£**
**22,700**
**18**
**98**
**-**
**241**
**705**
**23,762**
**Total Funds**
**26,217**
**Current year**
**Total Funds**
**2020**
**£**
**18,238**
**18,238**|**Prior Year**
**Total Funds**
**2019**
**£**
25,000
89
198
-
225
705|
|---|---|---|---|---|
||**23,454**|**307**||**26,217**|
||**Unrestricted**
**Funds**
**25,786**|**Restricted**
**Funds**
**431**||**Prior Year**
**Total Funds**
**2019**
**£**
-|
||**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
18,238|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-|||
||**18,238**|**-**||**-**|
27
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
## **29 Expenditure on charitable activities - Direct spending**
|**_Current Year_**
**Total direct spending**
**B2a**
**_Prior Year_**
**Total direct spending**
**B2a**
Staff costs - other
Special Events
Ladies Guild
Motor, travel and entertaining
Staff costs - other
Ladies Guild
Employers' NI - Charitable activities
Employers' NI - Charitable activities
Hale Minyan
Motor, travel and entertaining
Purim
Special Events
Hale Minyan
Purim
Gross Salaries and Self Employment - charitable activities
Defined contribution pension costs - charitable activities
Lulav, plaques and memorial stones, child/shabbat
Pre Barmitzvah Haftorah and books for presentation
Gross Salaries and Self Employment - charitable activities
Defined contribution pension costs - charitable activities
Lulav, plaques and memorial stones, child/shabbat
Pre Barmitzvah Haftorah and books for presentation|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
116,472
1,595
1,236
2,482
255
677
10,319
2,218
4,736
-
232|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
-
-
-
-
-
-
-
-
-
(25)|**Current year**
**Total Funds**
**2020**
**£**
**116,472**
**1,595**
**1,236**
**2,482**
**255**
**677**
**10,319**
**2,218**
**4,736**
**-**
**207**
**140,197**
**Prior Year**
**Total Funds**
**2019**
**£**
**107,415**
**4,824**
**1,185**
**16,252**
**3,065**
**1,711**
**3,037**
**12,284**
**22,082**
**1,019**
**308**
**173,182**|**Prior Year**
**Total Funds**
**2019**
**£**
**107,415**
**4,824**
**1,185**
**16,252**
**3,065**
**1,711**
**3,037**
**12,284**
**22,082**
**1,019**
**308**|
|---|---|---|---|---|
||**140,222**|**(25)**||**173,182**|
||**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
107,415
4,824
1,185
16,252
3,065
1,711
3,037
12,284
22,082
1,019
48|**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
-
-
-
-
-
-
260|||
||**172,922**|**260**|||
28
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
## **30 Expenditure on charitable activities- Grant funding of activities**
|**_Current Year_**
**Total grantmaking costs**
**B2c**
**_Current Year_**
Federation of Jewish Services
Or Meir Bracha
Chai Cancer Care
Shabetai Levy
Camp Simcha
Kolel Chabad
Chabad Manchester University
HMD Llandudno
Langdon
Jewish Blind & Disabled
L'Chaim Foodbank
**_Prior Year_**
**Total grantmaking costs**
**B2c**
**Breakdown of Grants made to organisations**
**_Prior Year_**
Federation of Jewish Services
Or Meir Bracha
Chai Cancer Care
Shabetai Levy
Camp Simcha
King David School
Kolel Chabad
Chabad Manchester University
North Cheshire Jewish Primary School
HMD Llandudno
Langdon
Jewish Blind & Disabled
L'Chaim Foodbank
Yom Kippur Charity Giving
Yom Kippur Charity Giving
**Breakdown of Grants made to organisations**|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
-|**Current year**
**Restricted**
**Funds**
**2020**
**£**
10,500|**Current year**
**Prior Year**
**Total Funds**
**Total Funds**
**2020**
**2019**
**£**
**£**
**10,500**
**24,750**|
|---|---|---|---|
||**-**|**10,500**|**10,500**
**24,750**|
||**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
-
-
-
-
-
-
-
-
-
-
-|**Current year**
**Restricted**
**Funds**
**2020**
**£**
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000|**Current year**
**Total Funds**
**2020**
**£**
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
1,000
1,000
1,000
**10,500**
**Prior Year**
**Total Funds**
**2019**
**£**
**24,750**
**24,750**
**Prior Year**
**Total Funds**
**2019**
**£**
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
750
2,000
2,000
2,000
**24,750**|
||**-**|**10,500**||
||**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
-|**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
24,750||
||**-**|**24,750**||
||**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-|**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
2,000
750
2,000
2,000
2,000||
||**-**|**24,750**||
29
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
## **31 Support costs for charitable activities**
|**31**
**Support costs for charitable activities**|**31**
**Support costs for charitable activities**||||
|---|---|---|---|---|
|**Current year**
**_Current Year_**
**Unrestricted**
**Funds**
**2020**
**£**
**_Premises Expenses_**
11,096
31,304
6,202
45,240
77
27,036
8,749
7,116
**_Administrative overheads_**
4,714
3,750
1,740
-
5,070
5,973
2,771
**_Professional fees paid to advisors other than the auditor or examiner_**
2,030
1,207
**_Financial costs_**
70
1,607
**Support costs before reallocation**
**165,752**
**Total support costs - Current Year**
**165,752**
Bank charges
Accountancy fees other than examination
or audit fees
Legal fees
Stationery and printing
Postage
Cleaning (including laundry)
Kitchen expenses
Security
Insurance
Prayer books
Software licences and expenses
Telephone, fax and internet
Gardening
Premises repairs, renewals and maintenance
Light heat and power
Rates and water charges
Sundry expenses
Levies
Depreciation & Amortisation in total for the period||**Current year**
**Restricted**
**Funds**
**2020**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13
-|**Current year**
**Total Funds**
**2020**
**£**
**11,096**
**31,304**
**6,202**
**45,240**
**77**
**27,036**
**8,749**
**7,116**
**4,714**
**3,750**
**1,740**
**-**
**5,070**
**5,973**
**2,771**
**2,030**
**1,207**
**83**
**1,607**|**Prior Year**
**Total Funds**
**2019**
**£**
**12,461**
**39,958**
**8,556**
**36,655**
**2,355**
**29,601**
**12,650**
**5,786**
**5,232**
**3,269**
**3,400**
**1,902**
**2,082**
**3,409**
**1,609**
**2,020**
**246**
**36**
**3,557**|
||**165,752**|**13**|**165,765**
**165,765**|**174,784**|
||**165,752**|**13**||**174,784**|
|||||**-**|
All the expenditure in the prior year was unrestricted.
## **32 Other Expenditure - Governance costs**
|**_Current Year_**
Auditor's fees
**Total Governance costs**|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
4,920|**Current year**
**Restricted**
**Funds**
**2020**
**£**
-|**Current year**
**Total Funds**
**2020**
**£**
**4,920**
**4,920**|**Prior Year**
**Total Funds**
**2019**
**£**
**4,920**|
|---|---|---|---|---|
||**4,920**|**-**||**4,920**|
All the expenditure in the prior year was unrestricted.
30
**The Sephardi Congregation of South Manchester**
## **Detailed analysis of income and expenditure for the year ended 31 December 2020 as required by the SORP 2015**
|**33 Total Charitable expenditure**
**_Current Year_**
Total direct spending
**B2a**
Total grantmaking costs
**B2c**
Total support costs
**B2d**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**
**_Prior Year_**
Total direct spending
**B2a**
Total grantmaking costs
**B2c**
Total support costs
**B2d**
Total Governance costs
**B2e**
**Total charitable expenditure**
**B2**|**Current year**
**Unrestricted**
**Funds**
**2020**
**£**
140,222
-
165,752
4,920|**Current year**
**Restricted**
**Funds**
**2020**
**£**
(25)
10,500
13
-|**Current year**
**Total Funds**
**2020**
**£**
**140,197**
**10,500**
**165,765**
**4,920**
**321,382**
**Prior Year**
**Total Funds**
**2019**
**£**
**173,182**
**24,750**
**174,784**
**4,920**|**Prior Year**
**Total Funds**
**2019**
**£**
**173,182**
**24,750**
**174,784**
**4,920**|
|---|---|---|---|---|
||**310,894**|**10,488**||**377,636**|
||**Prior Year**
**Unrestricted**
**Funds**
**2019**
**£**
172,922
-
174,784
4,920|**Prior Year**
**Restricted**
**Funds**
**2019**
**£**
260
24,750
-
-|||
||**352,626**|**25,010**|**377,636**||
||||||
||||||
31