REGISTERED COMPANY NUMBER: 04978521 (England and Wales) REGISTERED CHARITY 14UMBER: 1102303 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 30JUNE 2022 FOR SASSOV BEIS HAMEDRASH (A COMPANY LIMITED BY GUARANTEE) Melinek Fine LLP Chartered Accountsnts First Floor, Winston HoLJse 349 RentS Park Road London N3 IDH
SASSOV BEIS HAMEDRASH colENTs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Page Refereno and Administrative Detsils Report of the Trustees 2 to 3 Independent Examiner's Report Statement of Financial Activities Balance Sheet 6 to 7 Notes to the Financial Statements 8 to 10 Detailed Ststement of Financial Activitie5 li
SASSOV BEIS HAMEDRASH REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 30 JUNE 2022 TRUSTEES Rabbi S l Freshwater Mr B S E Freshwater Mr G S Morris Mr O Silber Mr M Broner Mr L Rokad) COMPANY SEcRARy Burlington Registrars Limited REGISTERED OFFICE New Burlington House 1075 Finchley Road Temple Fortune London NWII OPU REGISTERED COMPANY NUMBER 04978521 (England and Wales) REGISTERED CHARttY NUMBER 1102303 INDEPENDENT EXAMINER Melinek Fine LLP Chartered Accountants First Fl(x)r, Winston House 349 Regents Park Road London N3 IDH Page I
SASSOV BEIS HAMEDRASH (REGISTERED NUMBER: 04978521) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statwnents of the charity for the year ended 30 June 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Ststement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial RertIng Stsndard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191. The Trustees present their Rert, together with the Accounts, for the year ended 30 June 2020 which complies with the Charities SORP IFRS 1021 and Charities Att 2011. OBJECTIVES AND AcfivThiES Charitable objects The objects of the charity are.. to foster, assist and promote charitsble acknvities of any instith'on professing and teaching the princi[e5 of traditional Judaism,. to advance ligIon in accordance with the Jewish faith. to undertake, accepL execute and administer, without any remuneration, any charitable trust and to give philanthropic aid to the Jewish needy. Publ1¢ benefit The Trustees confirm they have referred to the guidelines contained in the Charity Commission s general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities and setting the grant making policie5 for the year. FINANCIAL REVIEW Investment policy and objectives Under the Memorandum and Articles of Association, the charity has the Wer to make any investment which the trusttts see fit provided any moneys are not immediately required for use in Connection with any of its objects. The trust&s, having regard to the liquidity requirements of the charity and to the reserves llicY, have operated a policy of keeping funds available on call. Re5eThes policy It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which the trustees think appropriate after considering the fLJtLJre commitments of the charity and the likely administrative costs of the charity for the next year. FUTURE PLANS The charity plans continuing the activities outlined above in the forthcoming years subjert to satisf?ctory incoming resources. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing documént Sassov Bels Hamedrash is a CoMnY limited by guarantee governed by its Mernorandum and Articles of Assoaation dated 27 November 2003. The current members are the subscribers to the Memorandum of Ass(tiation. Membership is open to any indiwdual who applies to the charity in the form required by the directors and is approved by the directors; there is no limit to the number of rnembers. The Board of Govemors shall not be less than 3 and is not subject to any maximum. Page 2
SASSOV BEIS HAMEDRASH (REGISTERED NUMBER: 04978521) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2022 STRucfuRE, GOVERNANCE AND MANAGEMENT Oryanisation The ch?rity is run by the Board of Governors (Trust) who shall appoint its members the Chairman and Vice-chairman. It is not the intention of the trustees of the charity to appoint any new trustees. Should the situation change in the future, the trustees will apply suitsble recruitment training and induction procedures. The charity was formed to take over the running of the synagogue known as The Sassov Bels Hamedrash. The Synagogue is maintsined by membership subscriptions and voluntary donatior)s. The day-to-day running of the Synagogue has been delegatsd by the Trustee5 to the duly-elected Synagffjue Wardens (Gabboim). The Charity also suptts charitable activities in the Jewish community,. specifically, it Wish to continue the philanthropic work of its founder, the late Sassover Rebbe o.h. Risk management The trustees have identified and reviewed the major risks to which the Charity is exposed, in parbcular those related to the Dperations and finance of the Companyi and are tisfied that systems are in pla to mitigate those risks. Financial risk management and policie5 The charity may hold or issue financial instruments in order to finance ts operab"ons. Credit Risk The charity has no significant cOnntratiOnS of Cred risk. Amounts shown in the balance Sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under the financial instruments. It is recognised that systems can only provide reasonable but not absolute assuran that major risks have been adequately rnanaged. nanclal Revlew The tharity is reliant on voluntary income from benefactors and members voluntary subscriptions. During the period under review, the charity received sufficient income to cover the expenses of the charity. Land and Buildings The company's investment propeffjes are inclLJded in the Financial Statements at Trustees. valuation. Approved by order of the board of trUStS on ........27 Ap.ril 2023 and sgned on its behalf by.. SIGNED Mr M Broner - Twstee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SASSOV BEIS HAMEDRASH (REGISTERED NUMBER: 04978521) Independent examlner's report to the trustees of Sassov Bels Hamedrash ('the Company,) I report to the charity trustees on my exarnination of the accounts of the Company for the year ended 30 June 2022. Responsibilities and basis of report As the charity's trusiees of the Company land a19) its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the COmnieS Act 2006 (e 2(KJ6 Arti. Having sèb"sfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinab"on, I report in resr£ri of my examination of your charity's accounts as carried out under Secb'on 145 of the Charities Art 2011 I'the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Sertion 145(51 {b) of the 2011 Act. Independent examiner's ststement I have completed my examination. I confirm that no matters have Come to my attention in connertiDn with the examination giving me cause to believe: accounting records were not kept in restktt of the Company as required by Section 386 of the 2006 Act,. or the accounts do not accord with those rOrdS- or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whith is not a matter considered as part of an independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. 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 Ljnderstanding of the accounts to be reached. SIGNED Danny Fine, FCA Mdinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 IDH Date.. 27 April 2023 Page 4
SASSOV BEIS HAMEDRASH STATEMENT OF FINANCIAL ACTIvfTIES (INCORPORATING AN ENCOME AND EXPENDITURE AccouKr} FOR THE YEAR ENDED 30JUNE 2022 2022 Unrestricted fvnd 2021 Totsl funds No INCOME AND ENDOWMENTS FROM Donations and legacies 154,741 100,532 Invesbnent income Totsl EXPENDThURE ON Raising funds 24,600 18,797 Charitable activities Charitable Grants Synagogue funcbons and amenities Maintenance of Synagogue lIdIng Other CharItae activities 63,300 90,214 29,564 64,056 50,290 30,542 1,673 Totsl 210 309 165 358 INCOME 18,236 10,733 RECONCILIATION OF FUNDS Total fund5 brought forward 2,180,435 2,169,702 TOTAL FUNDS CARRIED FORWARD 2 198 671 2 180 435 The notes form part of these financial statements Page 5
SASSOV BEIS HAMEDRASH (REGISTERED NUMBER: 04978521) BALANCE SHE 30 JUNE 2022 2022 Unrestricted fund 2021 Total funds Not FIXED ASSErs Tangible assets Invesbnent property 371,401 343,176 1800 000 1171,401 2,143,176 CURRENf ASSETS Debtors Cash at bank and in hand 15,219 16,434 57,019 64,505 CREDITORS Amounts falling due within one year io (29,749) {27,2461 NET CURREKf ASSETS TOTAL ASSEtS LESS CURRENT UABILThIES 2,198,671 2,180,435 ASSETS 2 198 671 2 180 435 FUNDS Unre*ricted funds 198 671 2 180 435 TOTAL FUNDS 2 198 671 2 180 435 The chartsble company 15 entitled to exemption frorn audit under Section 477 of the Companie5 Act 2006 for the year ended 30 June 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Att 2006. The trust acknowledge their reSInsIbilItIeS for la) ensLJring that the charitable company keeps accounting records that comply with Settions 386 and 387 of the Companies Act 2006 and preparing financial ststements which give a true and fair view of the State of affairs of the Charable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sertions 394 and 395 and which otherwise comply with the requirements of the Companies Art 26 relating to financial statements, so far as applicable to the charItate company. Ibl The notes form part of these financial statements Page 6 continued...
SASSOV BEIS HAMEDRASH (REGISTERED NUMBER: 04978521) BALANCE sHE- Continued 30 JUNE 2022 These financial statements have been prepad in accordance with the provisons applicable to charitable companies subjett to the small companies regime. The financial ststements were approved by the Board of Trustees and authorised for issue on .27.8.l.19A....................... and were signed on ts beha by.. SIGNED Mr B S E Freshwater - Trustee SIGNED Mr M Broner - Twstee The notes form part of these financial statements Page 7
SASSOV BEIS HAMEDRASH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ACCOUNTING POLICIES Basis of preparin9 the financial statements The financial statements of the charitable companyi which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities pparIng their accounts in accordance wth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20191,, Financial Reporting Standard 102 The Financi31 Reporting Standard applicable in the UK and Republic of Ireland. and the Cornpanies Att 2006. The financial statements have been prepared under the historical cost convention. Finanoal porting stsndard 102- reduced disclosure exemptions The charitable company has taken 3dvantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 Tre Financial Reporting Stsndard applicable in the UK and Republic of Ireland,: the requirements of Sertion 7 Statement of Cash Flows. Incoming resources All donations are recognised in the Statement of Financial Activities of the charity when received. Al other income is recognised on a receivable basis. Liability recognition Liabilities are recognised as exFEnditure as soon as there 15 a legal or constructive obligation cornmitting the Charity to pay out reur. Grants offered subjert to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Charltable actlvltles Charitable 3rtivities are only recognised in the accounts when paid. Tangible fixed a55ets Depreciation is provided at the following annual rates in order tt> write off each asset over its estimated useful Investment property Investment property is shown at most recent valu3bon. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Acbvibes. Taxati¢Jn The charity is exempt from corporation tsx on its chartable artIve5. Fund accounting All funds are unrestricted. DONATIONS AND LEGACIES 2022 2021 Donations 154 741 100 532 Page 8 continued...
SASSOV BEIS HAMEDRASH NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2022 INVEsfMENf INCOME 2022 2021 Rents received Depogt account interest 73,802 75,555 75,559 RAISING FUNDS Investment management costs 2022 2021 Property costs CHARrrABLE ACTivrriES COSTS Grant funding of activities Direct Costs Support costs Totsls Charitsble Grants Synagogue functions and amenities Maintenance of Synagogue building Other charitable activities 63,300 63,300 90,214 29,564 90,214 29,564 119 778 185 709 TRusfEES' REMUNERATION AND BENEFITS The were no trustees, remuneration or other benefits for the year ended 30 June 2022 nor for the year ended 30 June 2021. Trustees. expenses There were no trust$, expenses paid for the year ended 30 June 2022 nor for the year ended 30 June 2021. TANGIBLE FIXED ASSETS Freehold property COST At l July 2021 Additions 343,176 At 30 June 2022 371 401 BOOK VALUE At 30 June 2022 371401 At 30 June 2021 343,176 Page 9 continued...
SASSOV BEIS HAMEDRASH NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 30 JUNE 2022 INVEsfMENf PROPERTY FAIR VALUE At l July 2021 and 30 June 2022 1800 000 NET BOOK VALUE At 30 June 2022 1 800 000 At 30 June 2021 1,800 000 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Other debtors Prepayments and accrued income 9,856 11,425 10. CREDrroRS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2022 2021 Trade tredor$ Accruals and deferred income 28,249 25,746 11. RELATED PARTY Some of the Trustees of this charity are also Trustees of other oryanisations which may, from time to time, LEnefit from grants made by this charity during the period. 12. COMPANY LIMITED BY GUARANTEE The charity company is limited by guarantee and does not have share capal. The articles of association of the company predude the distribution of assets to the members of the company and accordingly a reconciliation of shareholders, funds is inappropriate. The liability of each member in the event of a winding up is limited to £1. Page 10