CHELSEA SYNAGOGUE TRUST FINANCIAL STATEMENTS 31 DECEMBER 2024
Charity Number 1101862
BUCKLEY WATSON LIMITED
Chartered Accountants & Registered Auditors
57A Broadway Leigh-on-Sea Essex SS9 1PE
CHELSEA SYNAGOGUE TRUST
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
| CONTENTS | PAGES |
|---|---|
| Trustee’s Annual Report | 1 - 2 |
| Independent Examiner's Report to the Trustee’s | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 - 8 |
| The following pages do not form part of the financial | statements |
| Detailed statement of financial activities | 10 - 11 |
CHELSEA SYNAGOGUE TRUST
TRUSTEE’S ANNUAL REPORT
YEAR ENDED 31 DECEMBER 2024
The trustee’s have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Chelsea Synagogue Trust Charity registration number 1101862
THE TRUSTEE’S
The trustee’s who served the charity during the year were as follows:
Mrs Delphine Long Mr Daniele Cogoi Mr Itzhak Rashkovsky
Independent examiner
Spencer Watson FCA Buckley Watson Limited 57A Broadway Leigh on Sea Essex SS9 1PE
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity has three trustees. The honorary officers and board of management are elected by the members.
OBJECTIVES AND ACTIVITIES
The object of the Charity shall be the advancement of the Jewish faith, in particular but not exclusively through the provision of grants to the Chelsea Synagogue and such other charitable purposes as the Trustees shall from time to time determine in accordance with the laws of England and Wales.
ACHIEVEMENTS AND PERFORMANCE
The Charity achieved a surplus of £5,566, a slight increase of £2,443.
FINANCIAL REVIEW
The charity had net incoming resources for the year of £121,108 and at 31 December 2024 has a positive bank balance and strong Balance Sheet.
PLANS FOR FUTURE PERIODS
The charity intends to continue to pursue its objectives in the context of prudent financial management.
RESPONSIBILITIES OF THE TRUSTEE’S
The charity's trustee’s are responsible for preparing the Trustee’s Annual Report and the financial statements in accordance with applicable law and regulations.
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CHELSEA SYNAGOGUE TRUST
TRUSTEE’S ANNUAL REPORT (continued)
YEAR ENDED 31 DECEMBER 2024
The law applicable to charities in England and Wales requires the trustee’s to prepare financial statements for each financial year. Under that law the trustee’s have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The trustee’s must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that year.
In preparing these financial statements, the trustee’s are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustee’s are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2016 and the Charity (Accounts and Reports) Regulations 2016. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
INDEPENDENT EXAMINER
Spencer Watson FCA has been re-appointed as independent examiner for the ensuing year.
Signed on behalf of the trustee’s
Chelsea Synagogue Smith Terrace London SW3 4DL
Mrs Delphine Long (Trustee)
[Date: 08/05/25]
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CHELSEA SYNAGOGUE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEE’S OF CHELSEA SYNAGOGUE TRUST
YEAR ENDED 31 DECEMBER 2024
I report on the accounts of the charity for the year ended 31 December 2024 set out on pages 4 to 8.
RESPECTIVE RESPONSIBILITIES OF TRUSTEE’S AND INDEPENDENT EXAMINER
The charity's trustee’s are responsible for the preparation of the accounts. The charity's trustee’s consider that an audit is not required for this year (under section 145 of the 2011 Act), and that an independent examination is required.
It is my responsibility to:
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examine the accounts;
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to follow the procedures laid down in the General Directions given by the Charity Commission; and
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to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustee’s concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view'.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the trustee’s have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 130 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Spencer Watson FCA Independent examiner
Buckley Watson Limited 57A Broadway Leigh on Sea Essex SS9 1PE
Date:
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CHELSEA SYNAGOGUE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2024
| Total Funds |
Total Funds | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Note | £ | £ | |
| INCOMING RESOURCES | |||
| Incoming resources from generating funds: | |||
| Voluntary income | 2 | 111,921 | 76,586 |
| Investment income | 3 | 1,927 | 536 |
| ------------------------------- | ------------------------------ | ||
| TOTAL INCOMING RESOURCES | 113,848 | 77,122 | |
| ------------------------------- | ------------------------------- | ||
| RESOURCES EXPENDED | |||
| Costs of generating funds: | |||
| Costs of generating voluntary income | 4 | (12,190) | (6,673) |
| Charitable activities | 5/6 | (96,093) | (67,326) |
| ------------------------------- | ------------------------------ | ||
| TOTAL RESOURCES EXPENDED | (108,282) | (73,999) | |
| ------------------------------- | ------------------------------- | ||
| NET INCOMING RESOURCES FOR THE YEAR | 7 | 5,566 | 3,123 |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 111,529 | 108,406 | |
| -------------------------- | ------------------------------- | ||
| TOTAL FUNDS CARRIED FORWARD | 117,095 ========================== |
111,529 =============================== |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 6 to 8 form part of these financial statements.
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CHELSEA SYNAGOGUE TRUST
BALANCE SHEET
31 DECEMBER 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| CURRENT ASSETS | ||||
| Debtors | 9 | 9,661 | 12,070 | |
| Cash at bank and in hand | 165,594 | 137,339 | ||
| ------------------------------- | ------------------------------- | |||
| 175,255 | 149,409 | |||
| CREDITORS: Amounts falling due within one | ||||
| year | 10 | (6,437) | (5,510) | |
| ------------------------------- | ------------------------------- | |||
| NET CURRENT ASSETS | 168,818 | 143,899 | ||
| ---------------------------- | ------------------------------- | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | TOTAL ASSETS LESS CURRENT LIABILITIES | 168,818 | 143,899 | |
| ------------------------------- | ------------------------------- | |||
| NET ASSETS | 168,818 | 143,899 | ||
| =============================== | =============================== | |||
| FUNDS | ||||
| Unrestricted income funds | 11 | 117,095 | 111,529 | |
| Building fund | 12 | 48,958 | 29,605 | |
| Centenary fund | 13 | 2,765 | 2,765 | |
| ------------------------------- | ------------------------------- | |||
| TOTAL FUNDS | 168,818 =============================== |
143,899 =============================== |
These financial statements were approved by the members of the committee on 08/05/25……………. and are signed on their behalf by:
MRS DELPHINE LONG
The notes on pages 6 to 8 form part of these financial statements.
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CHELSEA SYNAGOGUE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, the Statement of Recommended Practice "Accounting and Reporting by Charities" effective 1 January 2019 (SORP second edition 2019), to take into account the subsequent updates following amendments to FRS102 made in October 2019.
Fixed assets
All fixed assets are initially recorded at cost.
2. VOLUNTARY INCOME
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2024 | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 64,893 | 64,893 | 24,017 |
| Membership contributions | 24,316 | 24,316 | 27,085 |
| Funeral scheme | 4,489 | 4,489 | 4,245 |
| Funeral one-off fees | 0 | 0 | 0 |
| Temporary seats | 1,682 | 1,682 | 2,510 |
| Religious education levy | 2,870 | 2,870 | 3,240 |
| Gift Aid | 9,784 | 9,784 | 11,195 |
| Other | 3,887 | 3,887 | 4,294 |
| ------------------------------- | ------------------------------- | ------------------------------- | |
| 111,921 =============================== |
111,921 =============================== |
76,586 =============================== |
3. INVESTMENT INCOME
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2024 | 2023 | |
| £ | £ | £ | |
| Bank interest receivable | 1,927 =============== |
1,927 =============== |
536 =============== |
4. COSTS OF GENERATING VOLUNTARY INCOME
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2024 | 2023 | |
| £ | £ | £ | |
| Communal Purposes | 12,190 | 12,190 | 6,673 |
| ========================== | ========================== | ========================== |
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CHELSEA SYNAGOGUE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
5. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
| Unrestricted | Total Funds | Total Funds | |
|---|---|---|---|
| Funds | 2024 | 2023 | |
| £ | £ | £ | |
| Charitable costs | 29,524 | 29,524 | 31,072 |
| Support costs | 66,569 | 66,569 | 36,254 |
| ------------------------------- | ------------------------------- | ------------------------------- | |
| 96,093 =============================== |
96,093 =============================== |
67,326 =============================== |
6. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Support | Total Funds | Total Funds | ||
| directly | Education | costs | 2024 | 2023 | |
| £ | £ | £ | £ | £ | |
| Charitable costs | 28,730 =============================== |
794 ========================== |
66,569 =============================== |
96,093 =============================== |
67,326 =============================== |
| 7. | NET INCOMING RESOURCES FOR THE YEAR | ||
|---|---|---|---|
| This is stated after charging: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Staff pension contributions | – | - | |
| =============== | =============== | ||
| 8. | STAFF COSTS AND EMOLUMENTS | ||
| Total staff costs were as follows: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Wages and salaries | 32,620 | 35,188 | |
| Social security costs | - | - | |
| ------------------------------- | ------------------------------- | ||
| 32,620 | 35,188 | ||
| =============================== | =============================== | ||
| Particulars of employees: | |||
| The average number of employees during the year, calculated on the basis of full-time | equivalents, | ||
| was as follows: | |||
| 2024 | 2023 | ||
| No | No | ||
| Number of administrative staff | 2 | 2 | |
| =============== | =============== |
No employee received remuneration of more than £60,000 during the year (2023 - Nil).
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CHELSEA SYNAGOGUE TRUST
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
9. DEBTORS
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Income tax recoverable | 0 | 0 | |
| Other debtors | 0 | 0 | |
| Prepayments and accrued income | 9,661 | 12,070 | |
| ------------------------------- | ------------------------------- | ||
| 9,661 | 12,070 | ||
| =============================== | =============================== | ||
| **10. ** | CREDITORS: Amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Wages control account | 0 | 0 | |
| Other creditors | 243 | 388 | |
| Accruals | 6,194 | 5,122 | |
| ------------------------------- | ------------------------------ | ||
| 6,437 | 5,510 | ||
| =============================== | =============================== | ||
| **11. ** | UNRESTRICTED INCOME FUNDS | ||
| Incoming | Balance at | ||
| resources | 31.12.2024 | ||
| £ | £ | ||
| General Funds | 5,566 | 117,095 | |
| ========================== | ========================== | ||
| **12. ** | BUILDING FUND | ||
| Incoming | Balance at | ||
| resources | 31.12.2024 | ||
| £ | £ | ||
| General Funds | 19,353 | 48,959 | |
| ========================== | ========================== | ||
| **13. ** | CENTENARY FUND | ||
| Incoming | Balance at | ||
| resources | 31.12.2024 | ||
| £ | £ | ||
| General Funds | NIL | 2,765 | |
| ========================== | ========================== |
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