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|Financial position and reserves policy|Financial position and reserves policy|||||||
|---|---|---|---|---|---|---|---|
|The operating|deficit/surplus
is:|||||2023|2022|
|||||||E|6|
||Overall deficit during the period|||||-883|-12,117|
||Overall funds - surplus|||||110,596|111,479|
|The trustees|have established
a policy whereby||the reserves|should be a minimum|of:|59,000|50,000|
|See Note 10|in the Financial Statements.|||||||
|The free reserves are:||||||2023|2022|
|||||||E|6|
||Free reserves (Note 9)|||||93,633|94,516|
|The Trustees|note that the free reserves exceed||the reserves|policy figure by:||34,633|44,516|
|Ratio of free|reserves over reserves policy|||||1.59|1.89|
|The Trustees|will continue to monitor this.|||||||
|Trustees and|their interests|||||||
|The Trustees|ofthe Company
during the period||were as follows:|||||
||P Austin (appointed
22 November||2023)|||||
||5 Glass|||||||
||E Lucas (resigned 22 November|2023)||||||
||N Mendoza|||||||
||D Ross|||||||
||G Ross|||||||
||TSpivack|||||||
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|||Notes|Unrestricted|Restricted|Total funds|Total funds|
|---|---|---|---|---|---|---|
||||funds|funds|||
||||2023|2023|2023|2022|
|||||E|E|E|
|Income and expenditure|||||||
|Voluntary
Income|||||||
|5ubscriptions
receivable|||70,780||70,780|48,322|
|Donations
and sponsorship|received||7,719||7,719|13,985|
|Fundraising
and other activities (net)|||0||0|0|
|Income tax recoverable|||14,509||14,509|11,313|
|Bank interest receivable|||1,900||1,900|921|
|Total income and endowments|||94,908||94,908|74,541|
|Expenditure
on charitable|activities and other expenditure||||||
|Direct charitable
donations|||6,759||6,759|27,015|
|Management
and administration|||89,032||89,032|59,643|
|Total expenditure|||95,791||95,791|86,658|
|Net (deficit)/surplus
in the|period|||||-12,117|
|Movement offunds|||||||
|Fund balance at 1January|||94,516|16,963|111,479|123,596|
|Net deficit in the period|||-883|0|-883|-12,117|
|Fund balance at31December|||99999|99999|919999|999499|
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|Tangible fixed assets|are|stated at cost less depreciation.|stated at cost less depreciation.|The torah scrolls are|The torah scrolls are|now fully|depreciated.|||
|---|---|---|---|---|---|---|---|---|---|
|Depreciation
Is provided||at rates calculated to write off||the cost less estimated||residual|value ofeach asset over its expected useful||life|
|as follows:||||||||||
|Torah scrolls and accessories||||||-20years||||
|Fixtures, fittings and equipment||||||-between|2 and 5years|||
|The operating
surplus|ls|stated after:||||||||
||||||||2023||2022|
||||||||E|||
|Depreciation
oftangible||assets|||||206||1,298|
|Donations
received|||||||7,719|13,985||
|Staff costs||||||||||
||||||||2023||2022|
||||||||E||E|
|During the year the staff||costs were|as follows:|||||||
|Salaries|||||||31,975|14575||
|Employers'
NIC|||||||0||0|
|Pension contributions|(NEST)||||||2,398||1093|
||||||||34373|13666||
|Average number ofemployees||||||||||
|Number ofstaff accruing||retirement|benefits under a money purchase||scheme|||||
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|4|Expenditure|on|charitable
activities and other expenditure|charitable
activities and other expenditure||||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
||Direct charitable||expenditure|||||
||||Joint Jewish Burial Society|||0|7,732|
||||Masorti Judaism|||6,470|6,788|
||||Mosaic Reform Synagogue|(see comment|below)|0|12,000|
||||Board of Deputies|||289|495|
|||||||6,759|27,015|
|||||||2023||2022|
|---|---|---|---|---|---|---|---|---|
|||||||E||E|
|Management|and administration||||||||
||Premises costs|||||2,277||5,048|
||Cheder expenses|||||262||3,246|
||Rabbi costs and expenses||(see note 3)|||36,371||25,128|
||Mosaic Jewish Community||shared overheads|(see no'te 3)||45,070||22,786|
||Prayer book stock|||||1,275||0|
||Megillah
restoration|costs (net)||||215||0|
||Computer
expenses|||||173||0|
||Event and catering costs (net)|||||1,066||1,443|
||Legal fees|||||1,800||0|
||Depreciation|||||206||1,298|
||Bank charges|||||207||148|
||General expenses|||||110||547|
|||||||89,032||59,644|
|Total expenditure||||||95791||96659|
|Tangible fixed|assets||||||||
||||||Torah scrolls 83|Fixtures,||Total|
||||||accessories|fittings
83|||
|||||||equipment|||
|||||||E|||
|Cost|||||||||
||At 1January||||35,772|7,438||43,210|
||Additions||||0|0||0|
||At 31December||||35,772|7,438||43,210|
|Depreciation|||||||||
||At 1January||||35,772|6,406||42,178|
||Charge for the period||||0|206||206|
||At 31December||||35772|6612||42 394|
|Net BookValue|||||||||
||At 31December|||||826||826|
||At 1January||||D|1D32||1D32|
||||||||Page 7of9||
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|6|Debtors||||||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||E||
|||Income tax recoverable|||on Gift Aid donations||9,674|7,748|
|||Prepayments||and accrued income|||221|1,000|
|||Other debtors|||||5327|0|
||||||||15 222|8748|
|7|Creditors: amounts
falling due within one year||||||||
||||||||2023|2022|
||||||||E|E|
|||Accruals|||||1,203|3,286|
|||Deferred Income|||||4,656|3,449|
|||Other creditors|||||1429|6,013|
||||||||7288|12 748|
|8|Reconciliation|ofmovements||in total funds|||||
|||||||Unrestricted|Restricted|Total Funds|
|||||||funds|funds||
|||||||E|E||
|||Balance at 1|January|||94,516|16,963|111,479|
|||Movement
in||the period||-883|0|-883|
|||Balance at 31||December||93633|16963|116596|
|9|Free reserves||||||||
||||||||2023|2022|
||||||||E|E|
|||Unrestricted|funds at 31||December||93633|94,516|
|||Free reserves|||||93633|94516|
|10|Reserves Policy||||||||
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|Not|es to the financial statements
at|31|De|cem|ber|2023 (co|ntinue|d)||
|---|---|---|---|---|---|---|---|---|---|
|11|Movement
on Restricted
Funds|||||||||
|||||||Balance at||2021|Balance at|
|||||||11annary|2021|Movement|Sl Oecember 2023|
||||||||E||E|
||Development
Fund|||||16,963|||16,963|
|||||||16963||9|16963|
||The trustees
have designated
the Development
Fund|to|be used for building set up costs||||and|||
||investment
in major religious artefacts to support
its|primary||objectives.||The Trustees||||
||continue to approach
members
for sponsorship
ofthese||items. Both ark|||scrolls are now fully||||
||depreciated.|||||||||
|12|Capital|||||||||
||The Company
is a company
limited
by guarantee
not|having
a||share|capital.|||||
||The liability of members
is limited to E20each in the|event of||a winding||up ofthe Company.||||
||Mosaic Jewish Community|||||||||
||In October 2022, Mosaic Jewish Community
(MJC) moved into|||a purpose||built community||||
||centre in Stanmore for the benefit of its constituent|members||who|are all registered|||||
||charities. Hatch End Masorti Synagogue
(HEMS) rebranded
in|||2023|and now operates as|||||
||Mosaic Masorti Synagogue
(MMS).The other members||of MJC are||Mosaic Reform|||||
||Synagogue
(MRS), who acquired
a 999year lease on|the|premises,||and Mosaic Liberal|||||
||Synagogue(MLS).|||||||||
|14|Post Balance Sheet Event|||||||||
||Following the rebranding
ofthe charity in 2023,the Trustees,|||in February 2024, approved|||a|||
||proposal for a formal change of name to "Mosaic Masorti Synagogue
Limited". A Special|||||||||
||Resolution to this effect will be voted on by members|at|the forthcoming|||2024 AGM on 22nd||||
||May, and it is anticipated
this proposal
will be approved.|||||||||
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