2021-12-31-accounts

Organisation
The Trustees	are responsible for all policy decisions.
The day to day operations are delegated to an elected council and various functional			committees.
Financial position and reserves policy
The operating	surplus is:			2021	2020
				E	E
	Overall surplus during the period			7,146	9,857
	Overall funds			123,596	116,450
The trustees	have established a policy whereby the reserves should be a minimum	of:		66,488	67,500
See Note 10	in the Financial Statements.
The free reserves are:				2021	2020
				E	E
	Free reserves (Note 9)			93,335	84,401
The Trustees	note that the free reserves exceed the reserves policy figure by:			26,847	17,169
Ratio offree	reserves over reserves policy			1.40	1.25
The Trustees	will continue to monitor this.
Trustees and	their interests

		Notes	Unrestricted	Restricted	Total funds	Total funds
			funds	funds
			2021	2021	2021	2020
			E	E	E	E
Income and expenditure
Incoming resources
Fees			41,630		41,630	37,844
Donations and sponsorship	received		1,860		1,860	386
High Holy Days contributions			1,305		1,305	0
Fundraising and other activities —net			0		0	2,624
Income tax recoverable			6,875		6,875	7,720
Bank interest receivable			1,002		1,002	1,844
Total income and endowments			52,672		52,672	50,418
Expenditure on charitable activities and other expenditure
Direct charitable donations			11,849		11,849	11,549
Management and administration			31,889	1,788	33,677	29,012
Total expenditure			43,738	1,788	45,526	40,561
Net income in the period			8,934	-1,788	7,146	9,857
Movement offunds
Fund balance at 1January			84,401	32,049	116,450	106,593
Net income in the period			8,934	-1,788	7,146	9,857
Fund balance at31December			93,335	30,261	125596	116450

tothe financial stateme	nts		at 31D	ecem	ber 2	02	1
Accounting policies
A summary ofthe principal accounting	policies,		all ofwhich	have been applied		consistently,			is set out below.
Accounting convention
The financial statements have been prepared		under the historical cost convention					with	items recognised at			cost or transaction		value
unless otherwise stated in the relevant	hote(s) to these accounts.
The accounts have been prepared in accordance			with the Statement		of Recommended			Practice		(Accounting	for Charities)	(SORP
2019)and the Financial Reporting Standard		applicable in the IJK and			Republic	of Ireland		(FRS102).
Turnover
The turnover ofthe Company is derived	from its normal activities.
Resources expended
All expenditure is included on an accruals basis.
The Charity is not registered for VAT and all		the	expenditure	is shown	inclusive	ofirrecoverable				input VAT.
Tangible fixed assets and depreciotion
Tangible fixed assets are stated at cost	less depreciation.
Depreciation is provided at rates calculated		to write offthe		cost less	estimated	residual		value ofeach asset over its expected					useful
life as follows:
Torah scrolls and accessories					-	20	years
Fixtures, fittings and equipment					-	between		2 and S		years
The operating surplus isstated after:
											2021		2020
											6		6
Depreciation oftangible assets											1,788		1,788
Donations received											1,860		386
Staff costs

	Expenditure	on	charitable activities and other expenditure	charitable activities and other expenditure	charitable activities and other expenditure
								2021	2020
								E	E
	Direct charitable		expenditure
			Joint Jewish Burial Society					5,486	5,225
			Masorti Judaism					5,868	5,829
			Board of Deputies					495	495
								11,849	11,549
	Management	and administration
			Premises costs					2,469	620
			Cheder expenses					746	1,014
			Rabbi costs and expenses					14,606	13,335
			Mosaic Jewish Community	(including	insurance,	repairs, telephone)		9,038	8,517
			Office expenses attributable	to HEMS				271	181
			Depreciation					1,788	1,788
			Event catenng and food costs (net)					1,243	1,212
			Video services - High Holy	Days and Chanukah				0	2,150
			Ark design costs					2,800	0
			Bank charges					17	66
			General expenses					699	129
								33,677	29,012
	Totalexpenditure							45.5 6	6561
5	Tangible fixed assets
						Torah	scrolls B	Fixtures,	Total
						accessories		fittings 86
								equipment
								E
	Cost
			At 1January				35,772	6,406	42,178
			Additions				0	0	0
			At 31December				35,772	6,406	42,178
	Depreciation
			At 1January				32,686	6,406	39,092
			Charge for the period				1.188	0	1,788
			At 31December				34,474	6,406	40,880
	Net Book Value
			At 31December				1,298		1298
			At 1)anuary				3,086		3,086

6	Debtors
								2021	2020
								E	6
		Income tax	recoverable			on Gift Aid donations		4,848	5,660
		Prepayments			and accrued income			117	152
		Other debtors						0	654
								4 965	6466
7	Creditors: amounts falling due within one year
								2021	2020
								E	E
		Accruals						1,326	2,173
		Deferred Income						4,825	4,238
		Other creditors						9,514	7,740
								15,665	14,151
8	Reconcigation	ofmovements			in total funds
							Unrestdcted	Restricted	Total Funds
							funds	funds
							E	6
		Balance at 1		January			84,401	32,049	116,450
		Movement	in		the period		8,934	-1,788	7,146
		Balance at 31			December		93335	30,261	123596
9	Free reserves
								2021	2020
								6	6
		Unrestricted		funds at 31December				93,335	84,401
		Free reserves						93 535	04401

Note	s tothe financial statements	s tothe financial statements	s tothe financial statements	at 31D		ce	m	b	er	2	021	(	cont	inued)
10.1	Risks ofunforeseen circumstances
	The Trustees	have identified a number of risks that the reserves must							address. For			each risk,					Annual
	the Trustees	have assessed an annual contingency which is a				realistic			estimate		of what		HEMS				Contingency
	would have to spend should that risk actually occur.
	Relocation		When the community moves to I	a new location, there is a loss ofincome ifsome members
			decide not to move with the community														2000
	Membership		Risk of growth insufficient to meet planned		overhead				projections for				Rabbi's	salary			7000
	Bereavement		Loss ofincome because ofthe demise of members					(including			Covid-19j						1000
	Hamakom		Increased costs should families with children			join	and children attend						Hamakom				1200
	Mosaic		Increased costs continuing as the ratio of members					between			the constituent			communities		vary
																	3000
	New building		Increased costs arising from unforeseen building				running			costs and		creation		ofsinking	fund		3000
	Risk ofdebt		Support for members in financial	hardship													4000
	Fee parity		Absorbing possible fee increases	in achieving		parity		with		MR	and ML						4000
	Contingency		Other unforeseen circumstances	and general		contingency											1500
																	26700
10.2	Planned commitments
	Student rabbi		Expenses from September 2021	placement	-	6months thereof											3788
	Marketing		Increased staff costs in Mosaic Jewish Community														4000
	Care Workers		Contribution to Mosaic funding	for cross-community					care workers								2000
	Development		Contribution to Mosaic funding	for cross-community					development			rabbi					5000
																	14788
10.3	Day to day operational costs
	HEMS major	operational costs will be:
	Contributions	to	Mosaic Jewish Community, Masorti Judaism,			Jewish			Joint Burial Society and					rabbi staffing		costs.
	There is a 3year		growth plan to increase membership to cover rabbi staffing costs.
	During this 3year period any deficits will be covered by reserves						built		for	this	purpose.
	Total major	operational costs estimated for 6months															25000
10.4	Summary																Annual Contingency
	10.1		Risk ofunforeseen circumstances														26,700
	10.2		Planned commitments														14,788
	10.3		Day to day operational costs														25,000
	The cost ofthe reserves policy for one year																66666
	Ratio offree	reserves over reserves policy															1.40
	Restricted funds
																2021	2020
																6	6
			Development fund													30,047	30,375
			Asher Hyman fund													0	865
			David Davis fund													214	809
																66161	61666