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|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|
##
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##
|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|
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