Charity number: 1105859
Catford & Bromley Synagogue Trust
Trustees' report and financial statements for the year ended 31st December 2024
Catford & Bromley Synagogue Trust
Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2 - 5 |
| Independent examiners' report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 13 |
Catford & Bromley Synagogue Trust
Legal and administrative information
| Charity number | 1105859 |
|---|---|
| Business address | 6 Crantock Road |
| Catford | |
| London | |
| SE6 2QS | |
| Trustees | I Jacobs (Chair) |
| I Schlazer | |
| J Franks | |
| C Abrahams | |
| Accountants | Kleinman Graham |
| 2nd Floor, Unicorn House | |
| Station Close | |
| Potters Bar | |
| Hertfordshire EN6 1TL | |
| Bankers | Metro Bank |
| 76/77 High Street | |
| Bromley | |
| Kent BR1 1EG |
Page 1
Catford & Bromley Synagogue Trust
Report of the trustees
for the year ended 31st December 2024
The trustees present their report and the financial statements for the year ended 31st December 2024. The trustees who served during the year and up to the date of this report are set out on page 1.
Structure, governance and management
The Catford & Bromley Synagogue Trust was established by Trust Deed dated 23th June 2004 by Messrs Maurice Springer, Samuel Hindin, John Wayne and Joseph Burchell acting on behalf of the members of Catford & Bromley Synagogue and is a registered charity No. 1105859.
The persons who are trustees of the charity at any particular time have the power at that time to appoint new or additional trustees.
A Board of Management administers the charity. The members of the Synagogue elect the members of the Board every two years.
In their report for the year ended December 31, 2019 the trustees explained how it had come about that there were (and still are) two charitable trusts affecting the Catford Synagogue namely (1) the Catford & Bromley Synagogue Trust, the registered charity and (2) the Catford Synagogue Trust, the unregistered charity. Readers are invited to refer to the previous report if they wish to be reminded of the position.
Meetings
The Trustees have met seven times since the last AGM, together with meetings to sign various documents. Because Ian now lives in Radlett, all Trustees' meetings have taken place over Zoom. In addition, the Trustees (apart from Ian who was on zoom) very recently met in person with Patrick McGee, who was the Independent Financial Advisor (IFA) employed by the late Marie Howes, see below under 'Legacy'.
Following the 2024 AGM and the election of Neil Abrahams as Financial Representative (FR), it was agreed that both the chairman, Eddy Arram, and the FR should be invited to Trustees' meeting, unless inappropriate for exceptional circumstances. Steven Landes was also included, as he had expressed readiness to become a Trustee once Ian Schlazer retired, which will be as soon as various actions have been completed. All three extra attenders have made valuable contributions to the meetings.
Objectives and activities
The object of the charity is to promote the Jewish religion by all or any of the following:
-
The maintenance and improvement of the Synagogue at Crantock Road, Catford, London SE6 2QS to enable it to act as the Synagogue of the local Jewish Community for the purpose of being a place of worship and the due performance of rites such as marriage, bar mitzvah or bat mitzvah to the principles of the orthodox Jewish religion and for furthering the religious and other charitable work of the local Jewish community.
-
To appoint and then provide the stipend of the Rabbi of the Synagogue.
-
The acquisition, maintenance and improvement of a property as the residence of the Rabbi of the Synagogue.
-
The teaching and education of young members of the Jewish Community in the doctrines and Practices of the Jewish religion by means of Sunday schools and otherwise and to employ and pay part time teachers for that purpose.
-
The promotion, fostering and advancement of knowledge of the Jewish religion.
Page 2
Catford & Bromley Synagogue Trust
Report of the trustees for the year ended 31st December 2024
Achievements and performance
Number 6 Crantock Road (the synagogue land)
As previously reported, title to the land was held by the old 1953 trust. It needed to be transferred to the Trustees of the 2004 trust in order that (inter-alia) a lease of the electricity substation could be granted. This involved negotiations with the United Synagogue (US), who eventually agreed on the condition that, if in the future the registered charity is wound up, all assets will become the property of the US. In accordance with the trust deed, in the event the charity is wound up all net assets must go to a similar charity anyway and the US is such a similar charity.
Electricity substation
The original lease having come to an end and the registered trust having become titled owners of the synagogue land we were able to grant a new lease at a higher rent. The rent has now been increased to £500 pa, and the London Power Network has paid that, together with some back payment, which was accrued during the negotiations with the US. The rent increases in accordance with inflation during the term of the lease.
No 1 Crantock Road
Neither of the trusts (on the face of it) had any title to this property. Throughout this and previous years Isaac has been negotiating with the US for them to recognise that the house was purchased with our synagogue members' money and that any loan involved had long ago been paid back, therefore it belongs to us. He finally achieved agreement that the US would transfer the title of the Property to the Trust. On May 19, 2025 the Trustees were informed by the US solicitor that the US had executed the transfer of the property to the Trustees and that the transfer and other necessary documents had been sent to the Land Registry for registration of title under the Trustees' names. This has been a massive piece of work by Isaac, which would have cost us a great deal if we'd had to pay legal fees to someone else.
Note that the US has stipulated the condition that the Trust won't be able to sell the house without their agreement, which condition in any event always applied to number 6 Crantock Rd.
Official ownership of the house will enable us to apply for grants, e.g. for insulation and act as the owners in all respects.
Winding up the old (1953) Trust.
With the transfer of all the real property to the 2004 trust, as set out above, there is no need for the old 1953 Trust to continue. Accordingly, and with the consent of the Charities Commission, the trustees of the 1953 trust will pass a resolution transferring all assets to the 2004 trust and will then wind up the 1953 trust. The 2004 Trust will continue as legal owner of all the assets.
Youth Club
This is run by a separate registered charity, the Catford and Bromley Synagogue Youth Club. It is therefore necessary to have an Agreement between the two Trusts in order that the Youth Club can use the Clubhouse. The Trustees are very pleased that a Youth Leader, Lior Mizrachi, has been found and hope that the Agreement can be finalised soon. We also recommend that the Youth Club Trust should appoint a third trustee.
Legacy
In March 2025 the Trustees were informed by the executors of her estate that Mrs Marie Howes, a member of the Shul who died last autumn, had left a substantial legacy to the Shul in cash and investments. We have since been in communication with the Executors and their solicitors. We have also met with Marie's IFA, Patrick McGee, and have appointed him to help deal with the investments. Isaac will explain details of the legacy at the Shul AGM. The legacy requested that the Shul holds a Memorial Service for Mrs Howes, which we plan to do following the stone-setting.
The Trustees agree that this windfall must be used to invest in the future of the Shul and the Community. The urgent need to reduce the current annual deficit remains.
.
Page 3
Catford & Bromley Synagogue Trust
Report of the trustees for the year ended 31st December 2024
Financial review
The Charity's income and expenditure for the year and the financial position at the end of the year are as disclosed in the attached financial statements. The Trustees are very concerned that the Shul had an annual deficit for the financial year ending December 2024 of more than £45,000, following a deficit of more than £33,000 for 2023. A Finance sub-committee has been appointed which is urgently looking at ways to reduce the deficit by increasing income and reducing costs.
Reserves policy
The trustees are mindful that they need to reserve sufficient funds to ensure the charity's principle assets, the Synagogue and the Minister's residence, are kept in good order.
Investment policy
The trust deed contains no restrictions on the powers of the trustees to invest. However, as a charity, the Trust may only invest in what are in law "qualifying investments".
Section 558 Income Tax Act 2007 lists the 12 types of investments that are accepted as qualifying investments. These can be summarised under 8 bullet points as follows:
-
any investment in a charity common investment fund, common deposit fund or similar scheme
-
any interest in land (unless it is held as a security or a guarantee for a debt)
-
shares or securities of companies listed on a recognised stock exchange
-
units etc in a Unit Trust Scheme
-
shares in an Open-Ended Investment Company
-
bank deposits - other than deposits made as part of an arrangement under which the bank makes a loan to somebody
-
else (eg back to back loans)
-
certificates of deposit
-
any loan or other investment made for the benefit of the charity and not for the avoidance of tax (whether by the
-
charity or any other person)
Risk management
The major risk to which the charity is exposed, as identified by the trustees, have been reviewed and systems established to mitigate those risks.
Health and safety
The charity is also aware that laws and regulations relating to health and safety are subject to constant change and it is necessary to keep a reserve to be able to meet any new rules as and when they are introduced.
Page 4
Catford & Bromley Synagogue Trust
Report of the trustees for the year ended 31st December 2024
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which 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 2011 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
On behalf of the board
............................................
28th May 2025
Page 5
Catford & Bromley Synagogue Trust
Independent examiner's report to the trustees on the unaudited financial statements of Catford & Bromley Synagogue Trust.
I report on the accounts of Catford & Bromley Synagogue Trust for the year ended 31st December 2024 set out on pages 2 to 13.
Respective responsibilities of trustees and independent examiner
As the charity's trustees you are responsible for the preparation of the accounts. The charity trustees consider that an audit is not required this year under section 145 of the 2011 Act and that an independent examination is needed. It is my responsibility to examine the accounts, to follow the procedures laid down in the General Directions given by the Charity Commission and 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
(i) which gives me reasonable cause to believe that in any material respect the requirements:
-
to keep proper accounting records in accordance with section 130 of the Act; and
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (ii) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
...........................................................
Paul Kleinman
FCA
Independent examiner
For and on behalf of Kleinman Graham Chartered Accountants
Page 6
Catford & Bromley Synagogue Trust
Statement of financial activities
For the year ended 31st December 2024
| Unrestricted Restricted funds funds Notes £ £ Incoming resources Incoming resources from generating funds: Voluntary income 2 113,320 - Investment income 3 1,666 - Total incoming resources 114,986 - Resources expended Costs of generating funds: Cost of generating voluntary income 4 128,636 - Governance costs 5 32,027 - Total resources expended 160,663 - Net income/(expenditure) for the year ) (45,677 - Total funds brought forward 214,666 10,989 Total funds carried forward 168,989 10,989 |
2024 Total £ 113,320 1,666 114,986 128,636 32,027 160,663 ) (45,677 225,655 179,978 |
2023 Total £ 110,507 1,054 111,561 128,141 17,067 145,208 ) (33,647 259,306 225,659 |
|---|---|---|
The notes on pages 9 to 13 form an integral part of these financial statements.
Page 7
Catford & Bromley Synagogue Trust
Balance sheet
as at 31st December 2024
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Net assets Funds Restricted income funds Unrestricted income funds Total funds |
2024 £ £ 52,928 43,368 108,457 151,825 ) (24,775 127,050 179,978 10,989 168,989 179,978 |
2023 £ £ 55,264 24,542 162,320 186,862 ) (16,464 170,398 225,662 10,989 214,665 225,654 |
2023 £ £ 55,264 24,542 162,320 186,862 ) (16,464 170,398 225,662 10,989 214,665 225,654 |
|---|---|---|---|
| 225,662 | |||
| 10,989 214,665 |
|||
| 225,654 |
The financial statements were approved by the trustees on 28th May 2025 and signed on its behalf by
................................................
Trustee
The notes on pages 9 to 13 form an integral part of these financial statements.
Page 8
Catford & Bromley Synagogue Trust
Notes to financial statements for the year ended 31st December 2024
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' effective January 2015 (SORP 2015)
1.2. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
1.3. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
1.4. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Land and buildings Straight line over years - Leasehold properties Straight line over the life of the lease - Fixtures, fittings and equipment 25% reducing balance basis
Page 9
Catford & Bromley Synagogue Trust
Notes to financial statements
for the year ended 31st December 2024
1.5. Defined contribution pension schemes
The pension costs charged in the financial statements represent the contribution payable by the charity during the year.
2. Voluntary income
| Unrestricted funds £ Contributions 67,716 Gift aid claims 18,497 Offerings 2,194 Kol Nidre Appeal 2,525 Hire of hall 5,750 Miscellaneous income 8,879 Grants receivable 7,759 113,320 |
2024 Total £ 67,716 18,497 2,194 2,525 5,750 8,879 7,759 113,320 |
2023 Total £ 64,603 16,058 4,422 4,145 - 16,491 4,788 |
|---|---|---|
| 110,507 |
| 3. Investment income Unrestricted funds £ Bank interest receivable 1,666 Other interest receivable - 1,666 4. Cost of generating voluntary income Unrestricted funds £ Donations 996 Administration and general expenses 127,640 128,636 |
2024 Total £ 1,666 - 1,666 2024 Total £ 996 127,640 128,636 |
2023 Total £ 1,047 7 |
|---|---|---|
| 1,054 | ||
| 2023 Total £ 2,118 126,023 |
||
| 128,141 |
Page 10
Catford & Bromley Synagogue Trust
Notes to financial statements
for the year ended 31st December 2024
5. Governance costs
| Unrestricted funds £ Office expenses - Other - Administrator's costs 5,774 Accountancy and independent examiner's fees 3,388 Bookkeeping 8,565 Legal and professional 9,106 Printing, postage and stationery 3,139 Telephone 769 I T expenses 649 Sundry expenses 637 32,027 |
2024 Total £ - 5,774 3,388 8,565 9,106 3,139 769 649 637 32,027 |
2023 Total £ ) (2 1,789 3,319 6,164 - 3,735 766 85 1,211 17,067 |
|---|---|---|
6. Analysis of support costs
| Governance costs £ Staff costs 5,774 Accountancy charges 11,953 Legal and professional fees 9,106 Communication and information technology 3,139 Other office expenses 1,418 Other expenses 637 32,027 |
2024 Total £ 5,774 11,953 9,106 3,139 1,418 637 32,027 |
2023 Total £ 1,789 9,483 - 3,735 851 1,211 |
|---|---|---|
| 17,069 |
Page 11
Catford & Bromley Synagogue Trust
Notes to financial statements for the year ended 31st December 2024
| 7. Employees Employment costs Wages and salaries Pension costs Other costs |
2024 £ 44,799 1,459 3,598 49,856 |
2023 £ 31,316 1,432 3,025 |
|---|---|---|
| 35,773 |
No employee received emoluments of more than £60,000 (2023 : None). In addition to his salary, the minister is provided with full time accommodation.
Number of employees
The average monthly numbers of employees (including the trustees) during the year, calculated on the basis of full time equivalents, was as follows:
Full time Part time |
2024 Number 1 3 4 |
2023 Number 1 3 |
|---|---|---|
| 4 |
8. Pension costs
The charity operates a defined contribution pension scheme in respect of the minister. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the charity and was as follows:
| follows: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Pension charge | 1,459 | 1,432 |
Page 12
Catford & Bromley Synagogue Trust
Notes to financial statements for the year ended 31st December 2024
| Land and Long Fixtures, 9. Tangible fixed assets buildings leasehold fittings and freehold property equipment £ £ £ Cost At 1st January 2024 46,057 55,746 50,492 Additions - - 1,160 At 31st December 2024 46,057 55,746 51,652 Depreciation At 1st January 2024 - 51,221 45,810 Charge for the year - 2,036 1,460 At 31st December 2024 - 53,257 47,270 Net book values At 31st December 2024 46,057 2,489 4,382 At 31st December 2023 46,057 4,525 4,682 10. Debtors 2024 £ Trade debtors 14,202 Other debtors 29,166 43,368 11. Creditors: amounts falling due within one year 2024 £ Other creditors 19,723 Accruals and deferred income 5,052 24,775 |
Total £ 152,295 1,160 |
|---|---|
| 153,455 | |
| 97,031 3,496 |
|
| 100,527 | |
| 52,928 | |
| 55,264 | |
| 2023 £ 16,627 7,915 |
|
| 24,542 | |
| 2023 £ 11,387 5,077 |
|
| 16,464 |
Page 13
Catford & Bromley Synagogue Trust
The following pages do not form part of the statutory accounts.
Catford & Bromley Synagogue Trust
Detailed statement of financial activities
For the year ended 31st December 2024
| Incoming resources Incoming resources from generating funds: Voluntary income Contributions Gift aid claims Offerings Kol Nidre Appeal Hire of hall Miscellaneous income Grants receivable Investment income Bank interest receivable Other interest receivable Total incoming resources from generating funds Total incoming resources Resources expended Costs of generating funds: Cost of generating voluntary income Donations Donations |
2024 £ £ 67,716 18,497 2,194 2,525 5,750 8,879 7,759 113,320 1,666 - 1,666 114,986 114,986 996 996 |
2023 £ £ 64,603 16,058 4,422 4,145 - 16,491 4,788 110,507 1,047 7 1,054 111,561 111,561 2,118 2,118 |
2023 £ £ 64,603 16,058 4,422 4,145 - 16,491 4,788 110,507 1,047 7 1,054 111,561 111,561 2,118 2,118 |
|---|---|---|---|
| 110,507 | |||
| 1,047 7 |
|||
| 1,054 | |||
| 111,561 | |||
| 111,561 | |||
| 2,118 |
Page 15
Catford & Bromley Synagogue Trust
Detailed statement of financial activities
For the year ended 31st December 2024
| Administration and general expenses Minister's remuneration and NI Pension costs Officiant expenses Council tax and water rates Light and heat Repairs and maintenance Caretaker's salary Insurance Depreciation Advertising United Synagogue payover Cost of religious education Other religious related costs Kiddushim and food Security Total cost of generating voluntary income Fundraising trading: cost of goods sold and other costs Total costs of generating funds |
39,025 1,459 3,598 3,122 7,524 15,898 18,199 5,290 3,496 299 5,650 9,116 325 3,273 11,366 |
127,640 128,636 128,636 |
29,527 1,432 3,025 2,663 8,066 34,464 16,145 5,358 3,596 200 5,750 5,626 300 3,318 6,553 |
126,023 |
|---|---|---|---|---|
| 128,141 | ||||
| 128,141 |
Page 16
Catford & Bromley Synagogue Trust
Detailed statement of financial activities
For the year ended 31st December 2024
| 2024 | 2024 | 2023 | 2023 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||||||
| Charitable activities | ||||||||||||
| Governance costs | ||||||||||||
| Activities undertaken directly | ||||||||||||
| Office expenses - Other | (3 | ) | (2 | ) | ||||||||
| (3 | ) | (2 | ) | |||||||||
| Support costs | ||||||||||||
| Administrator's costs | 5,774 | 1,789 | ||||||||||
| Accountancy and independent examiner's fees | 3,388 | 3,319 | ||||||||||
| Bookkeeping | 8,565 | 6,164 | ||||||||||
| Legal and professional | 9,106 | - | ||||||||||
| Printing, postage and stationery | 3,139 | 3,735 | ||||||||||
| Telephone | 769 | 766 | ||||||||||
| I T expenses | 649 | 85 | ||||||||||
| Sundry expenses | 637 | 1,211 | ||||||||||
| 32,027 | 17,069 | |||||||||||
| Total governance costs | 32,024 | 17,067 | ||||||||||
| Net incoming/(outgoing) resources for the year | (45,674 | ) | (33,647 | ) |
Page 17