REGISTERED CHARITY NUMBER: 1089175
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023
for
The Liverpool Old Hebrew Congregation
Haines Watts 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ
The Liverpool Old Hebrew Congregation
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
The Liverpool Old Hebrew Congregation
Report of the Trustees
for the Year Ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objects of the congregation
a) The advancement of the Jewish religion,
b) To maintain, repair and preserve, for the benefit of the public, the synagogue at Princes Road with all its artefacts and chattels and also its cemeteries.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Expenditure on charitable activities amounted to £97,609 for the year (2022: £85,337).
FINANCIAL REVIEW
Principal funding sources
The majority of the Charity's income comes from donations and members contributions.
Reserves policy
Funds relative to the ongoing fabric of the synagogue together with any funds held for third parties are maintained as separate restricted funds.
FUTURE PLANS
The major challenge to the charity is to maintain its income and obtain funding for further necessary repairs and refurbishment to the Synagogue and upkeep of cemeteries.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust. It was originally registered on 19 September 1874 under the Place of Worship Registrations Act 1855 and was registered by the Charity Commission on 1 November 2001.
Organisational structure
The Congregation is administered by a Board of Charitable Trustees, which comprises the Honorary Officers (Senior and Junior Wardens, Chairman, Honorary Treasurer and Honorary Secretary) plus seven other Trustees.
The above Board meets to review current financial and administrative matters and to plan for the future.
Induction and training of new trustees
Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1089175
Principal address
Synagogue Chambers Princes Road Liverpool L8 1TG
Page 1
The Liverpool Old Hebrew Congregation
Report of the Trustees
for the Year Ended 31 December 2023
Trustees
J Rosenthal (Hon. Treasurer) E D Rosenfield (Trustee), (Hon. Sec) D B Kay (Hon. Sec) (deceased 8.5.23) M P Phillips (Trustee) Mrs A M Cohen (Trustee & Chairman) S Marks (Trustee & Senior Warden) (resigned 1.9.23)
Independent Examiner
Haines Watts 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ
Investment Advisers
Blankstone Sington Limited Walker House Exchange Flags Liverpool L2 3YL 14/04/2024 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... Mrs A M Cohen - Trustee
Page 2
Independent Examiner's Report to the Trustees of The Liverpool Old Hebrew Congregation
Independent examiner's report to the trustees of The Liverpool Old Hebrew Congregation
I report to the charity trustees on my examination of the accounts of The Liverpool Old Hebrew Congregation (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michael Forshaw FCA
Haines Watts 3rd Floor Pacific Chambers 11-13 Victoria Street Liverpool Merseyside L2 5QQ 14/04/2024 Date: .............................................
Page 3
The Liverpool Old Hebrew Congregation
Statement of Financial Activities
for the Year Ended 31 December 2023
| Unrestricted Restricted funds funds Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 80,758 - Investment income 2 4,531 - Total 85,289 - EXPENDITURE ON Raising funds 3 1,311 - Charitable activities Princes Road Synagogue 94,136 2,162 Total 95,447 2,162 Net gains/(losses) on investments (2,788) - NET INCOME/(EXPENDITURE) (12,946) (2,162) Transfers between funds 12 1,435 (1,435) Net movement in funds (11,511) (3,597) RECONCILIATION OF FUNDS Total funds brought forward 114,914 9,321 TOTAL FUNDS CARRIED FORWARD 103,403 5,724 |
31.12.23 Total funds £ 80,758 4,531 85,289 1,311 96,298 97,609 (2,788) (15,108) - (15,108) 124,235 109,127 |
31.12.22 Total funds £ 57,515 4,135 61,650 1,234 84,103 85,337 (19,785) (43,472) - (43,472) 167,707 124,235 |
|---|---|---|
The notes form part of these financial statements
Page 4
The Liverpool Old Hebrew Congregation
Balance Sheet
31 December 2023
| Unrestricted Restricted funds funds Notes £ £ FIXED ASSETS Tangible assets 7 18,151 - Investments 8 110,936 704 129,087 704 CURRENT ASSETS Debtors 9 7,433 - Cash at bank 1,062 5,020 8,495 5,020 CREDITORS Amounts falling due within one year 10 (34,179) - NET CURRENT ASSETS (25,684) 5,020 TOTAL ASSETS LESS CURRENT LIABILITIES 103,403 5,724 NET ASSETS 103,403 5,724 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
31.12.23 Total funds £ 18,151 111,640 129,791 7,433 6,082 13,515 (34,179) (20,664) 109,127 109,127 103,403 5,724 109,127 |
31.12.22 Total funds £ 18,169 110,636 128,805 5,886 22,722 28,608 (33,178) (4,570) 124,235 124,235 114,914 9,321 124,235 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 14/04/2024 ............................................. and were signed on its behalf by:
............................................. A M Cohen - Trustee
The notes form part of these financial statements
Page 5
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements
for the Year Ended 31 December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Irrecoverable VAT is charged against the category of the resources expended for which it was incurred.
Allocation and apportionment of costs
Costs for each fund are allocated according to the direct costs incurred by each fund.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - see heritage assets policy below Fixtures and fittings - 15% reducing balance
Fund accounting
The Unrestricted Funds comprise the General Fund and Designated Fund B.
The Restricted Funds comprise:
a. Kol Nidre Fund represents charity collections not yet paid over.
b. Restoration Fund represents funds donated specifically for the restoration of the synagogue and for the continuity of the Congregation.
c. Deane Road Fund represents funds donated specifically for the restoration and maintenance of the closed cemetery.
Heritage assets
The freehold property, which consists of the Synagogue in Princes Road Liverpool, is considered to be an historic and inalienable asset. Its residual value is considered to be in excess of the cost shown in these accounts and therefore no depreciation is provided. The property has not been revalued because in the opinion of the trustees, the costs of professionally valuing this asset would outweigh the benefits to the users of these accounts.
Page 6
continued...
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
2. INVESTMENT INCOME
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| £ | £ | ||
| Dividends & interest | 4,531 | 4,135 | |
| 3. | RAISING FUNDS | ||
| Investment management costs | |||
| 31.12.23 | 31.12.22 | ||
| £ | £ | ||
| Portfolio management | 739 | 1,234 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
6.
| 31.12.23 | 31.12.22 | ||
|---|---|---|---|
| Administrative | 1 | 1 | |
| No employees received emoluments in excess of £60,000. | |||
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 57,515 | - | 57,515 |
| Investment income | 4,115 | 20 | 4,135 |
| Total | 61,630 | 20 | 61,650 |
| EXPENDITURE ON | |||
| Raising funds | 1,234 | - | 1,234 |
| Charitable activities | |||
| Princes Road Synagogue | 81,542 | 2,561 | 84,103 |
| Total | 82,776 | 2,561 | 85,337 |
| Net gains/(losses) on investments | (19,785) | - | (19,785) |
continued...
Page 7
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds £ £ NET INCOME/(EXPENDITURE) (40,931) (2,541) Transfers between funds (105) 105 Net movement in funds (41,036) (2,436) RECONCILIATION OF FUNDS Total funds brought forward 155,950 11,757 TOTAL FUNDS CARRIED FORWARD 114,914 9,321 7. TANGIBLE FIXED ASSETS Fixtures Freehold and Computer property fittings equipment £ £ £ COST At 1 January 2023 and 31 December 2023 18,050 3,694 894 DEPRECIATION At 1 January 2023 - 3,575 894 Charge for year - 18 - At 31 December 2023 - 3,593 894 NET BOOK VALUE At 31 December 2023 18,050 101 - At 31 December 2022 18,050 119 - 8. FIXED ASSET INVESTMENTS Cash and Listed settlements investments pending £ £ MARKET VALUE At 1 January 2023 103,006 7,630 Additions 10,285 16,002 Disposals (16,002) (10,285) Revaluations 9,589 (12,377) Management costs - (739) Dividends & Interest - 4,531 At 31 December 2023 106,878 4,762 NET BOOK VALUE At 31 December 2023 106,878 4,762 At 31 December 2022 103,006 7,630 |
Total funds £ (43,472) - (43,472) 167,707 124,235 Totals £ 22,638 4,469 18 4,487 18,151 18,169 Totals £ 110,636 26,287 (26,287) (2,788) (739) 4,531 111,640 111,640 110,636 |
|---|---|
continued...
Page 8
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
8. FIXED ASSET INVESTMENTS - continued
Cost or valuation at 31 December 2023 is represented by:
| Cash and Listed settlements investments pending £ £ Valuation in 2023 106,878 - Cost - 4,762 106,878 4,762 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 £ Trade debtors 6,240 Other debtors 1,193 7,433 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 £ Bank loans and overdrafts (see note 11) 14,448 Trade creditors 132 Other creditors 19,599 34,179 11. LOANS An analysis of the maturity of loans is given below: 31.12.23 £ Amounts falling due within one year on demand: Bank overdrafts 14,448 |
Totals £ 106,878 4,762 |
|---|---|
| 111,640 | |
| 31.12.22 £ 5,845 41 5,886 31.12.22 £ 19,898 90 13,190 33,178 31.12.22 £ 19,898 |
continued...
Page 9
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1.1.23 | in funds | funds | 31.12.23 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 4,982 | (12,946) | 5,935 | (2,029) |
| Fund B | 109,932 | - | (4,500) | 105,432 |
| 114,914 | (12,946) | 1,435 | 103,403 | |
| Restricted funds | ||||
| Restoration Fund | 704 | - | - | 704 |
| Kol Nidre Fund | 2,010 | - | - | 2,010 |
| Deane Road | 6,607 | (2,162) | (1,435) | 3,010 |
| 9,321 | (2,162) | (1,435) | 5,724 | |
| TOTAL FUNDS | 124,235 | (15,108) | - | 109,127 |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 85,289 | (95,447) | (2,788) | (12,946) |
| Restricted funds | ||||
| Deane Road | - | (2,162) | - | (2,162) |
| TOTAL FUNDS | 85,289 | (97,609) | (2,788) | (15,108) |
| Comparatives for movement in funds | ||||
| Net | Transfers | |||
| movement | between | At | ||
| At 1.1.22 | in funds | funds | 31.12.22 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 29,113 | (24,026) | (105) | 4,982 |
| Fund B | 126,837 | (16,905) | - | 109,932 |
| 155,950 | (40,931) | (105) | 114,914 | |
| Restricted funds | ||||
| Restoration Fund | 684 | 20 | - | 704 |
| Kol Nidre Fund | 2,010 | - | - | 2,010 |
| Deane Road | 9,063 | (2,561) | 105 | 6,607 |
| 11,757 | (2,541) | 105 | 9,321 | |
| TOTAL FUNDS | 167,707 | (43,472) | - | 124,235 |
continued...
Page 10
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 57,516 | (81,542) | - | (24,026) |
| Fund B | 4,114 | (1,234) | (19,785) | (16,905) |
| 61,630 | (82,776) | (19,785) | (40,931) | |
| Restricted funds | ||||
| Restoration Fund | 20 | - | - | 20 |
| Deane Road | - | (2,561) | - | (2,561) |
| 20 | (2,561) | - | (2,541) | |
| TOTAL FUNDS | 61,650 | (85,337) | (19,785) | (43,472) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net Transfers movement between At 1.1.22 in funds funds £ £ £ Unrestricted funds General fund 29,113 (36,972) 5,830 Fund B 126,837 (16,905) (4,500) 155,950 (53,877) 1,330 Restricted funds Restoration Fund 684 20 - Kol Nidre Fund 2,010 - - Deane Road 9,063 (4,723) (1,330) 11,757 (4,703) (1,330) TOTAL FUNDS 167,707 (58,580) - |
At 31.12.23 £ (2,029) 105,432 103,403 704 2,010 3,010 5,724 109,127 |
|---|---|
continued...
Page 11
The Liverpool Old Hebrew Congregation
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
12. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Gains and | Movement | |
|---|---|---|---|---|
| resources | expended | losses | in funds | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 142,805 | (176,989) | (2,788) | (36,972) |
| Fund B | 4,114 | (1,234) | (19,785) | (16,905) |
| 146,919 | (178,223) | (22,573) | (53,877) | |
| Restricted funds | ||||
| Restoration Fund | 20 | - | - | 20 |
| Deane Road | - | (4,723) | - | (4,723) |
| 20 | (4,723) | - | (4,703) | |
| TOTAL FUNDS | 146,939 | (182,946) | (22,573) | (58,580) |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
14. BURIAL BOARD ACTIVITIES
The £25,480 net Burial Board income is made up of;
Funerals £62,027, Donations £1,796, bank interest £175.
Less £38,518 of other related funeral expense. (Losses brought forward are available).
15. GIFT AID REPAYMENTS
Gift Aid repayments for 2023 amounted to £10,933 (2022 £7,200).
Page 12
The Liverpool Old Hebrew Congregation
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 3,034 | 3,181 |
| Gift Aid repayments | 10,933 | 7,200 |
| Grants | 1,965 | 5,674 |
| Kol Nidre fund | 863 | 993 |
| Tours and Shop | 13,365 | 8,390 |
| Functions & Events | 3,494 | 984 |
| Annual contributions | 44,766 | 28,468 |
| Offerings | 1,163 | 1,354 |
| Kiddush receipts | 325 | 756 |
| Wedding receipts | 850 | 515 |
| 80,758 | 57,515 | |
| Investment income | ||
| Dividends & interest | 4,531 | 4,135 |
| Total incoming resources | 85,289 | 61,650 |
| EXPENDITURE | ||
| Investment management costs | ||
| Portfolio management | 739 | 1,234 |
| Charitable activities | ||
| Wage costs | 16,622 | 15,640 |
| Rates and water | (3,061) | 3,737 |
| Insurance | 39,696 | 27,083 |
| Light and heat | 22,663 | 13,893 |
| Telephone & Internet | 1,959 | 1,251 |
| Postage and stationery | 1,083 | 619 |
| Advertising & marketing | - | 8,880 |
| Sundries | 2,085 | 2,425 |
| Security | 9,253 | 7,200 |
| Repairs & Maintenance | 4,826 | 5,831 |
| Festival & Kiddush expenses | 1,920 | 346 |
| Rabbi Costs | 9,169 | 9,990 |
| Service expenses | 622 | 125 |
| Travel expenses | 5,738 | - |
| Burial Board net expenditure | (25,480) | (23,672) |
| Deane Rd - Heritage expenditure | 2,162 | 2,540 |
| 89,257 | 75,888 |
Support costs
This page does not form part of the statutory financial statements
Page 13
The Liverpool Old Hebrew Congregation
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| Detailed Statement of Financial Activities for the Year Ended 31 December 2023 |
||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Support costs | ||
| Other | ||
| Bookkeeping | 1,495 | 600 |
| Bank Charges | 2,014 | 1,244 |
| Accountancy | 3,500 | 2,817 |
| Legal and professional fees | 586 | 3,533 |
| Fixtures and fittings | 18 | 21 |
| 7,613 | 8,215 | |
| Total resources expended | 97,609 | 85,337 |
| Net expenditure before gains and losses | (12,320) | (23,687) |
| Realised recognised gains and losses | ||
| Unrealised gains/losses - fixed asset investments | (2,788) | (19,785) |
| Net expenditure | (15,108) | (43,472) |
This page does not form part of the statutory financial statements
Page 14