Charlty reglstratlon number 1098107 Company registration number 04632485 (England and Wales) THE LONDON CARLBACH SHUL TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
THE LONDON CARLBACH SHUL TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Sindair P Goldsmith D B Leigh H H Zimmeman Charlty numbar 1098107 Company number 04632485 Prlnclpal addres cjo St John's Woc*Y Synawgue 3741 Grove End Road London NW8 9NG ReglJ¢ered office 30 City Road London ECIY J•4B Indèp•nd•nt •xamln•r Gravita 11 LLP 30 City Road London EC1Y JIB
THE LONDON CARLBACH SHUL TRUST CONTENTS Page Trustees, report Independenl examinerfs report ststement of financial actiwtses Stslemenl of financial posili Notes to th& finan¢i81 $tal$mgnts
THE LONDON CARLBACH SHUL TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPOR FOR THE YEAR ENDED 30 JUNE 2023 The Trustees present their report and accounts for Ihe year eThJed 30 June 2023. Leg81 and administrative infonnatn set out * the front of Ihe59 finanri815trtements form part ol this report. The financial statemènts have bèen prepar8d in acuxdaneè vnth thè accounb.ng poliuès sèt out in note 1 to th8 financial statements and comply with the Trust's goveming document, the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191.. ObjectiV85 and activitigs The Trust's objects and its prinupal activity are:. The advancement of the orthodox Jewish religion by the establishment. continuance and support of an orthodox Jewish synagogue. 21 Outreach work, comprising events suth as Friday night dinnets and sotyal evening$, esperyally on Jèwish f8stivals. Thèse èvants arè attendèd by both M&Mr$ and non membws. 31 Educational development for all agès and all abilities. The Trustees have paid due regard to guidanch issued by the Charity Commission in decidiThJ ¥that activities the Trust should undertake. The Trust's policy is lo consull and di5CUS5 with employees, through unions. staff counals and al meetings, matters likely to affe¢t employees, interests. Achl•v•mènts and rtom)dnCé The charity ha8 conlinued to enhance its programme ol events and regular lIgIouS and charitable xtivities, resulting in an irnproved offering and increased attendanrA in general. The charity looks forw8rd ¢0 Continuing its past achi8vèm8nts in th8 coming yaar. Flnanclal r•vl•w In line wilh the recornrnend81ions of the Charity Commission, Ihe Council ha5 formally adopted a serveS policy. Thi$ recognises that th$ incgrn0 of th& Trust dotrs noi ¥ris& ¢v$nly ytrar on ytrai and $0 tr) enablg thtr Trust t plan ils activities it is prudont to hol¢J rosèrvos. During the past five financial years the Trust began a Sha service agement wth St John's Wood United Synagogue. The share service agreemenl provides consolidated services and utilises a shared infrastructure and staffing resources. The Trusl will continue lo operate a separale budgel during Ihe rning financial year in order lo operate certain lunctions which will not immediately fall under ihg rner9ed entity. It is expected that during thg ¢oming ye8rs revenue and expenditure will reduce as the Tnjst prowdes reduced Sgrvices outside of th9 rnerged entity. Based on the 2023 accounts, annual expenditure lolalled £56.083 12022= £76.0881. There is a surplus on reserves as al 30 June 2023 of £91.60312022'. £107.2801. 11 is the policy of the Trust that unrestricted lunds which have not been designaied for 8 5pecffic use should be aintained at a 18V818quiva18nt to betwe8n three and six monlh's expenditur8. The Trustees consider that reserves at this level will ensure that, in the event of È signtficant drop in funding, they vall be able tts continue the Trust's current activities while consideratson is given to ways in which addfjts.onal fuThJs may be raised. This level of reserves has been maintained throughoul the year. The Trusiees have assessed the major risks to which the Trusl is exposed. and are sats'sfied that systems are in place to mitigate exposure to the major risks.
THE LONDON CARLBACH SHUL TRU8T TRUSTEES, REPORT (CONTINUED>(INCLUDINO DIRecTOR8' REPORT) FOR THE YEAR ENDED 30 JUNE 2023 Structurn. gov•m•n¢• and m•n•q•m•nt Th8 Trust Is a company Ilmltsd by gu8ranteo mgl•r•d (• ty h• Ind lleJ•• ol assoc41On. Th• ¢h•rfty numbw ts 1(198107. Th• nUrnr h 4632485. Th• Trusts•s. ¥tho are also th• dlr8ctors for th8 purpom law. WKI lK• th• and to th• date olslgnature of1 Itnandd 8tthmits w•.' M &ndalr D 8 Lelgh H H Jrnrfn oftho chrlt4bl• comPY Cts thwlVI18 It• Iwust¢•y of¢harfty fw rtl througP#xrt th18 f0POrt are referr8d to 88 Councl. A8 $91 out In th& Articl98 olA$I#ll¢ tho cham8n th& of Ihe Cwn¢il gre nominat by th• m8rnbw8h6p on On ann1 b¥is. Th• Cthrtil •r• •laetthJ by thts mernb¢r8 of trbfr charftabl8 ¢panY atteThJlThJ Y)è Annual Gew•l Methi and on• of Ttwt mu•t r•th At ••¢h AGM. Th• TnAt li UK b•1 rfth ts office kn LNkn 9ovfjr b)dy 18 80ord dTnl• th• org•nl84tlon. Tho Tru8t•••' r•port Id•mlth Tru810tr
THE LONDON CARLBACH SHUL TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LONDON CARLBACH SHUL TRUST I report to the charity trustees on my examinaiion of the actounts of the company for the year ended 30 June 2023. which are set out on pages 4 to 11. R85ponsibilities and basis of report As the charity trustees of the company land also its directors for the purposes of company lawl YIMJ are responsible for the preparation of the accounts in aCt0rdan with the requirements of the Companies Act 2006 I'the 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 01 the 2006 Act and are eligible for independent examination, I rewl in respect of my examination of your company's accounts as carried out under section 145 of the Charities Acl 2011 I'lhe 2011 Act'l. In carrying out my examination I have followed the Directs'ons given by the Charity Comrnission under section 14515llbl ol the 2011 Act. Indgp¥nd•nt gxamlngrfs stot•mgnt I havè Complèt my èxamination. l eonfimi that no mattèrs havo com& to my attents.on in ¢onneetion wth tha examination giving me cause to believe that in any material fespect.. a¢n11n9 r¢¢ords wer& not kept in spe of the company as required by section 386 of th$ 21)06 Act,. or lill the accounts do not accord wlh those records.. or lilil the accounts do not comply with tha accountsng requirements of section 396 01 the 2006 Act other th8n any requirement that the accounts give a 'lru6 and lair view, Wh is not a matter considered as part of an independent examination,. or livl th8 acctsunls have not been prepared in a¢cordan¢& th th¥ m¢thod$ and prin¢ipl¥s ol th& St8tem¥nt of Raeommandad Practicè for accountsng and rèporting by charitiès applicabla to charilias preparing thair accounts in accordance with the Financial ReplIng Stsndar¢J applicable in the UK and Republic ol Ireland IFRS 1021. I have no concem5 and have come across no other matters in conneclion wilh the examination to whh attention should be drawn in this report in order to enabltr 8 proper undwst8nding of Ihtr 8¢tr)un¢s to be reached. ravila 11 LLP Chartered Accountants Shona Munday BA FCA 30 City Road London EC1Y 2AB Dated.. 29th Ap.ril 2024
THE LONDON CARLBACH SHUL TRUST STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2023 Unrestricted funds 2023 Unrestricted funds 2022 Notes Income and endowments from.. Donations and legaaes other income 39,606 800 81,089 1,387 Total In¢orn• 40.406 82,47fj Ch8rilabl8 activitiès other expenditure 56.083 75,747 341 Totsl expenditure 56.083 76,086 Not In¢omoll¢xpondltur•l •nd mov•m•nt In lund$ 115.6771 6,388 Rèconelllatlon olfund•: Fund balances at 1 July 2022 107.280 100,892 Fund b¥l•n¢g8 at 30 Jun¥ 2023 91.603 107,280 The staternenl of financial acUVi'eS indudes all gains and losses recogni8ed in the year. All irKorne and expenditure derive from eonlinuing aclivilitrs.
THE LONDON CARLBACH SMUL TRUST STATEMENT OF F114A14CIAL PO8ITIOPI AS AT JO JUIE 2029 io 2.319 11 C•sh •t b•r •rhJ 7.788 11,2S9 104.13 12 7,2 3.844 89.284 100.294 91.803 107.280 91.603 107.280 91,603 107.280 2(Th. forts yew wKl•d 30 Jun• 2023. r4mpty s•clon 386 of ts Ac and lty woparirvj finanTral 8tst•m•nts whKa) gN• J true and fair vithw of I stats of arS of the c¥xnpany a$ at th• •nd ol the financid year and of its irn9 feSCMJr oppkayon of SrC•s. including its inc¢me and expdItre. for the finarYJ81 yw In *xsydants wilh ts r¢quwements of sections 394 and 395 and whlch olheThTh ¢)JnPty with th• ol Ihe Comroni•s kt 2(th to non 51at8ments. $0 hr 8$ aFvIK8ble by the npany. Th• members h8va not fequir•d tho c¥)n¥w to an audm oflts fiwKlal Slat fr)r tho y•Ar In (xordance th secti 476. Th8w Ilnanoal slat•mgnts have been prgpored In wlth the pro4tsKX)s applkable kn ccffiwyes Sub to tho wnau ¢xxnp8ni88 regime. The financA•I stsl oldsmith rust•• Cmipany rn9Istratw numbor 04632485 <Er44and and Wal98}
THE LONDON CARLBACH SHUL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accountlng polScles Charity inforniation The London Carlbach Shul Trust is a private company limited by guarantee incorporated in England Wales. The registered office is 30 City Road. Lond(. EC1Y 2AB. The prinapal place of business is 3741 Grove End Road. London. NW8 9NG. 1.1 Accounting ¢onvontion The financial slalements have been pPared in accordance with Ihe Trusfs governing document. the Companies Act 2006 and "Accounting and Reporting by Charities.. Slatement of Recommended Practice applicable ¢0 charityes preparing their accounts in accordanc8 with th8 Financial Reporbng Standard applicable in thg UK and Rgpublic of Ireland IFRS 1021 lellective 1 January 20191.. The Trust is a Public Benefit Entity as d6fin6d by FRS 102. The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bullets'n 1 not to prepare a Statement of Cash Flows. The financi81 staternents are prepared in sterting, whith 15 th8 funC1la1 currency of the Trust. Monetary amounts in these financial 5ts1ements 8re rounded to Ihe nearest £. Th8 financial slalèmants havè bèan prgpar8(1 undèr th¢ h1$lori1 wst cOnntiOn. Th& prinapal a¢UntIng policiès adoptad am sat out b810w. 1.2 Golng concern At th8 tim6 of 8pproving thè financial st8tèmanls, Trust8•s hav• 8 rèasonablè *Xetst10n that thg Trust h8s adequate resources to continue in operaljonal èxistenc6 lor thè foreseeable futurè. Thus th8 TrLSte&s continue to adopt the going concern basis ol acc(wJnling in preparing the finanoal statements. 1.3 Charltablè funds Unrestricted funds are available lor use at Ihe discre1 of ihe Trustees in lurtherance of their charitsble objeclives. 1.4 Incomo Voluntary incoma is r6eèiv6d by way of (k¥nations and gifts and is includéd in th6 Statèmant of Financi81 Activities when receivable. The income from lun¢Jrai&ng ventuS is shown gross, with thè assoaatad costs included in fundraising costs. Ineom6 from patrons and mambèrs is r8ccyJnis&d in Ihè panc¥J to which it relal•s. Incoma is dèf&rr&d only when the Trust has to fu1 its conditions before becoming enbued to li or when the donor has specffied the income is to be expended in a futu period. 1.5 Exp•nditur• Fundraising expenditure o)mprises o)sts incurre(l in Ihe stsging of general fvndraising events. Adminislrats'on expenditure indudes all expenditure not directly related to the charitable activity ol fundraising ventures.
THE LONDON CARLBACH SHUL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Accounting poli¢ig¥ (Continued) 1.6 Tanglble fixod ass•ts Tangib18 fixed ass8ts are initially me8sure(18t cost and subsequenuy me8sured at wst or valuation, net depreciation and any irnpairm8nt ioss8S. Tangible fixed assets a stated at cost less depclarion. Deprea8tion is provided at rates calculated to write off th8 cost less 8stirnat8d residu81 value of each asset ¢)ver its expect8d useful life, a5 follows.. Fixtures, fittings & equipment 15% Straight line basis The gain or loss arising on the disposal ol an asset is detennined as the difference befv4een the sale proceeds and the carying value of the asset. and is recognised in Ihe statemenl ol finanaal activities. The assets, residual values and useful lives are viewed. and adjusted, if appropriata. at the end ol each reporting period. The effect of any change is accounted lor prospectively. 1.7 Impalm)•nt of Ilx8d assèts At each reporting end date. the Trust reviews the carrying amounfs of its langible a8sets to deiemiine whether there is any indic81ion Ih8t those assets have suffered an impairment loss. If any such indication exists, the r8¢ov8r8blè amount of the asset 1$ estimated in order lo detemiine the extent of the impairmènt l¢ss lif any). 1.8 Cash and cash equlval¢nt• Cash and cash equivalents indude cash in hand. 1.9 Flnanclal Instruments The Trust has elect6d to apply thè provision$ ol saCt 11 'Basic Finanaal Instrumants. of FRS 102 to all ol its financial instrumants. Finanaal instrurnenls are recognised in the Trusl's balancE sheel vthen the Trust becomes party io the contractual provisions of the instrument. Financial assèts and li8bilities arè offset, with the amounts prèsènted in the financial statèmènts, whèn thare is a legally ènforceable right to sèt off the recognised amounts and thèra is an intention lo settlè on a nèt basis or to realise the asset and setue the liability simultane(wJsly. Baslc flnanclal assets Basic financial assets, which indudè debtors and cash and bank balances, ar8 initially measured at transaction price including transaction costs and a subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a finanang transaciion, where the transaction is measured at the present value ol the future receipls diso)unleLI at a markel rate of interest. Financial assets classified as receivable within one year are not arThytis•Y.
THE LONDON CARLBACH SHUL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Accounting poli¢ig¥ (Continued) Impalmignt of flnanclal assets Financial 8sS8ts, oth8r than those held at fair value through in¢x)me and expenditure, are assessed for indicators of irnpairment at 8ach retK)rting date. Financial ass8ts are irnpair8d where there is obj8ctiv8 evidence that, as a result ol one or more events that occurred after the initial recognition of the financial asset, the ests'mated future cash flows have been affecled. 11 an asset is impaired. the impairment loss is the difference betsveen the carrying amount and the present value of the estimated cash flow5 discounted at the asset's original effective interest rate. Th8 impairrnent10s5 is recognised in net inwmellexpenditurel for the year. 11 the is a decrease in the impairmenl loss arising fvom an event occurring after the impairment was recognised. the impairment is reversed. The Veal is such that the current carrying amount does not exceed what the carrying arnount would have been. had the impaimienl Th)t previously been recognised. The impairment reversal is recognised in net incomellexpenditurel for Ihe year. Dgwognltlon of flnJn¢lJl assets Financial assets are defecognised only when the contracbjal rights to the cash flows from the asset expire or are settled. or when the Trust transfers the financial asset and subslantially all the risks and rewards ol ownership to another en¢ily, or if some significant risks and rewards ol ownership are retsined but control ol the asset h83 Ir8nslerred Io another party Ih8t is able to sell Ihe assel in its en'rety io an unrelated third party. 8•sle fln4nel41114bllltl•s Basic financial liabilities. induding ueditors are initially recyonised al transaction price unless the arrangement conslitute5 8 financing lrnn5aclion, where Ihe debt inslnjment 15 measured at the present value Of the lutur¥ payments discounted at a market rate of inlerest. Financial liabilititr$ ¢la$sthed a$ payable within on& y88r are not amortiS8d. Trade creditors are obligations to pay for gcM)ds or services that have been acquired in the Ordin course ol operations from suppliers. Amounts payable are classified as current liabilities if payment is dve within one year or less. If nol. they are presenled as non-curren¢ liabilities. Trade ¢ditOrS are recognised initially a¢ transaction price 8nd subsequenlly measured al amortwd cosl using the effective inlerest melhod. D•rècognition of fin4nci81 li4bilities Finanaal liabilities are derecognised when the Trusl's i)Jntraciual obligations expire or are discharged or canlled. 1.10 Fund# accounting Funds held by the trust are.. Unrestrided gener81 funds- these 8re lunds Ihat can bg used in 8c¢xxdance wilh the tharitable objects. al the discretion of tha c{)unl. Incom& from donatlons and l•gacl•s Unrestrlcted fund5 2023 Unrestrlcted funds 2022 Donations and gifts 39,606 81,089
THE LONDON CARLBACH SHUL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Other Income Unrestricted Unrestricted funds funds 2023 2022 Other incorne 800 1,387 Independent •xamlners f••8 During the period ended 30 June 2023, the charitsble rnpany paid lees of £3,600 12022.. £3,600) to the 8CCQUntant5 for the independent examination revigw. Charltabl• aetlvW•s 2023 2022 Depreciation and impaimènt Fundraising costs lincluding operational costs) Administrative support Rates Accountancy fees Sundry 8Xns&S Travelling expenses Bank charges Repairs 4,667 36,737 682 9,698 4,071 122 4,679 53,952 337 6,206 5,245 132 3,818 182 1,196 56,083 75,747 Trustees None ol the Trvsl&e$ (gr any Tson$ connecteil vrith them) received any remunerats'on during the y08r. Certain rn8mb8rs of the Couniil ar8 rèimburs for rè8$th)ab èxpènsès incutr8d by thèm in carrying Out their dub'es for the Trust. The trustees rnade donations totalling £7,18812022=£11.6761 in the year ended 30 June 2023. Employees The average rnonthly nurnb8r of employe8518xduding Irust8esl during th8 year was.. 2023 Numbèr 2022 Number Total There are no employees whose annual remunèrAb"on was £60,IKK) or more.
THE LONDON CARLBACH SHUL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Employe9¥ (Continued) There were no employees whose annual remuneration was ne than £60.0. other gxpenditure Unr•strletsd Unr•strlet•d funds funds 2023 2022 Net loss on di$kX)sal ol tamgibl$ fixed assets 341 Taxatlon The charity is exempt from taxatn on tts activities because all its incom6 is applied for charitabl& purposes. 10 Tanglble Ilxed a8set8 Flxtur••, flttlng• & •qulpm•n¢ Cost Al 1 July 2022 31.114 AI 30 June 2023 31.114 Doprèelatlon and Impalm•nt At 1 July 2022 Depreciation charged in th6 year 24,128 4,667 At 30 June 2023 28,795 Carrylng amount At 30 June 2023 2,319 At 30 June 2022 6,986 11 Debtors 2023 2022 Amounts falllng du• thIn on• yèar: Other debtors Prepayrnents and accrued incorT 7,0(X) 7,000 4,259 7,788 11,259 10-
THE LONDON CARLBACH SHUL TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 12 Creditors: amounts fallSng due within one year 2023 2022 Trad8 cr8ditor5 Accruals and deleThed incAMe 244 3,600 7,2CM) 7.2() 3,844 13 Unrestrlct•d lunds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific condits'ons by donors and gr8niors a5 lo how they may be used. These include designated lunds which have bsen sel aside out ol unrostri¢te(I lunds by the tnJ$tees lor speufic purpostrs. At 1 July 2022 Incomlng r•sourc•s R•soureè8 •xp•nd•d At 30 Jun• 2023 Gènaral lunds 107,280 40,406 156,0831 91,603 Pr•¥lou• y••r'. At 1 July 2021 Incomlng rè8oureès Rè#oureè$ oxp•ndèd At 30 Jun• 2022 General funds 100.892 82,476 {76,0881 107,280 14 Shar• eapltal The Trust is limited by guarantee wthout any Sha capital. In Ihe event of the Soaety being vnund up. each member is liable to contribute for the paymenl ol the debts and liabilities of the Trust ol such amount as may be required, but not exceeding £1. 15 Related party transactlons Thara wara no disclos8blè r*lalsd party transactions during the yè8r12022 - nonè). 11