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2023-08-31-accounts

Maidenhead Synagogue Limited

(A company limited by guarantee)

Company Number: 5512194 Charity Number: 1110795

,

Financial Statements

for the year ended 31st August 2023

Wenn Townsend

Chartered Accountants

Oxford

Maidenhead Synagogue Limited

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Contents

Page
Trustees’ report 1-7
Auditors’ report 8-9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notestotheaccounts 13-21

Maidenhead Synagogue Limited

Report of the Trustees for the year ended 31st August 2023

The Trustees present their report and audited financial statements for the year ended 31st August 2023.

Reference and administrative details

Directors and Trustees

The directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

No Trustee has an interest in any of the assets of the Synagogue, or in any transaction with the Synagogue other than in and to the extent of their capacity as members.

The Trustees serving during the year and at the date of approval were as follows:

Lincoln Ball
Victoria Barclay-White
Jonathan Berman		 (Vice-Chair)
(resigned 29th June 2023)
Martin Birch (Chair)
Anna Crollick
Robert Gilbert
Lauren Gill
Till Gins		 (appointed 29th June2023)
Helen Godson
Lucy Henning		 (resigned 29th June 2023)
Susan Henry
Emma Lawton
OliverLawton
Matthew Loewenthal
Sheldon Musiker		 (resigned 16th May2023)
(appointed 26th June 2023)
(appointed 29th June 2023)
ElizabethPrais

Auditors:

Wenn Townsend Chartered Accountants and Statutory Auditors 30 St Giles Oxford OX1 3LE

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Maidenhead Synagogue Limited

Report of the Trustees (continued) for the year ended 31st August 2023

Reference and administrative details (continued)

Bankers: HSBC Bank plc
35 High Street
Maidenhead
SL6 1JQ
Lloyds Bank plc
Unit 68 Jacobs House
Suttons Business Park
Suttons Park Avenue
a OO Earley —
Reading
RG6 1AZ
Registered office: Grenfell Lodge
Ray Park Road
Maidenhead
SL6 8QX
Charity Number: 1110795
CompanyNumber: 5512194

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Maidenhead Synagogue Limited Report of the Trustees (continued) for the year ended 31st August 2023 Structure, Governance and Management Governing Document Maidenhead Synagogue Ltd is a charitable company governed by its Memorandum and Articles of Association. The company was incorporated on 19th July 2005. Appointment of Trustees As set out in the Articles of Association, all Trustees resign at each AGM except those appointed under clause 3.3 of the Articles of Association. Clause 3.3 of the Articles allows up to four Trustees to be appointed by the other Trustees. New Trustees are then elected or re-elected at the AGM. Any Trustee vacancies that the Trustees consider need to be filled during the year are also elected directly by the Trustees. Trustees are members of the community who are elected onto the Council every year at an AGM. When complete, there is a maximum of fifteen and a minimum of six Trustees. Trustee Induction and Training Incoming Trustees receive a hand-over from their outgoing counterparts. In addition, all new Trustees are made aware of their obligations by reference to Charity Commission and Companies House guidance and other key Synagogue documents. Role-specific training, e.g., on the finance system for the Treasurer, is available when required, as is First Aid training for relevant Trustees and staff. _Organisation__ — - The Board of Trustees, along with the Rabbi, oversees the charity and meets approximately every two months. The Synagogue employs two part-time administrators and an accountant, collectively referred to as the Finance & Administration team, who handle the day-to-day administration and financial record-keeping. The Accountant liaises closely with the Administrators. The Finance & Administration team refer to the Trustees as necessary, particularly the Chairperson, Vice-Chairperson, Treasurer, and Property & Maintenance Trustee who constitute the key management team, as well as the Rabbi.

Principal risks and uncertainties Overarching risks are discussed at regular Board meetings and the Board of Trustees and all sub-committees obtain professional advice where they perceive this is required for a specific risk or a particularly high risk. Annual inspections are carried out by appropriate health and Safety professionals. The outcome of each inspection is presented to the key management team for review and implementation, with outcomes and any substantive items reported to the full Board of Trustees for consideration. Appropriate corrective actions are taken and, where applicable, Health & Safety policies updated accordingly. The charity takes out appropriate insurances to protect its assets and also to protect it from 3rd party liability claims. A Risk Management Survey was carried out by the Synagogue’s insurers in March 2020 and all requirements noted therein have been implemented. This survey was carried out because we had changed requestinsuranceit. companies, they are not carried out annually and the next one will be carried out when the insurers

Child protection risks are primarily dealt with by Trustees with responsibility for Youth and Education. The Charity maintains a Child Protection policy covering all areas of Synagogue’s activities involving young people. This policy has been formulated with advice from staff at the Movement for Reform Judaism, RSYNetzer and UJIA/Makor — all professional organisations well-experienced in dealing with child and youth activities. Procedures include Criminal Records Bureau/Independent Safeguarding Authority checks on all signStaff whoa declaration may be leftto unsupervisedconfirm that theyin ahavepositionread of responsibility withand understood the Safeguardingchildren. All volunteers arePolicy. The Synagogue asked to Child Protection Coordinator is the Religion School Co-ordinator. Physical security risks to the building and its occupants are managed by the Security Committee which works closely with the national organisation, the Community Security Trust (CST). This Committee organises security at services and events. A full review of Maidenhead Synagogue’s safeguarding policy was conducted in 2019 and, where applicable, changes have been implemented. In consultation with CST the CCTV cameras were upgraded to the latest digital technology and a number of blind spots were eliminated by adding more cameras. This has resulted in better coverage of the site, clearer pictures and the pictures being retained for a longer period of time. CST provided a grant of 50% of the total cost of this project.

Financial risks are managed by the Treasurer in consultation with the Chairperson and other relevant members of the Board of Trustees. «3%

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Maidenhead Synagogue Limited

Report of the Trustees (continued)

for the ended 31st August 2023

Objectives and activities for the public benefit

Maidenhead Synagogue shares the values of the Reform tradition of Judaism. It is an open and inclusive community who provide innovative opportunities to connect with like-minded people of all ages and embrace Jewish life via religious services, education and a wide range of cultural events.

The primary objectives of the Synagogue are:

The guiding principles that are followed by the Synagogue are:

Fundraising

Maidenhead Synagogue organises events and carries out fundraising activities in order to generate funds for the charity. We do not use professional fundraisers or involve commercial participators. Maidenhead Synagogue has due regard to the Code of Fundraising Practice in the UK. Care is taken to limit the level of communications being sent out and to ensure that our fundraising activities are not unreasonably persistent or intrusive. There have been no complaints about fundraising activity this year.

The Synagogue has a long-running campaign which has several members covenanted to donate to a Building Fund which was part of the funding for the acquisition of the present building. In addition, the charity applies for grant aid when it sees opportunities.

The charity tries to maximise all income by ensuring that, as far as possible, memberships and donations are covenanted or given through Gift Aid.

In addition, the charity raises money for other worthy causes: most notably members are encouraged to give to nominated local and Jewish charities during the High Holy Days.

Achievements and performance The Synagogue continues to be successful and membership numbers stable.

Over the past year the Synagogue has continued to run a wide variety of activities for its members, from formal religious events such as weekly and High Holy Day services through to community-based events such as the communal Passover meal. The Synagogue has also undertaken numerous educational and social events including lectures, discussions, presentations, excursions and youth clubs. It is the Synagogue’s practice that if one-off event's organisers charge a fee, it is only to ensure that they cover direct costs as a minimum; if a surplus is produced it is ploughed back into the respective portfolio for future activities.

Covid restrictions had effectively finished by the beginning of this financial year, but web based religious services and other events have continued as these have proved to be successful in keeping the community in touch with the members and the members with each other. Additionally, many members find them easier and more convenient than travelling to the synagogue.

Maidenhead Synagogue Limited

Report of the Trustees (contin ued) for the year ended 31st August 2023

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Financial Review Maidenhead Synagogue Ltd ended the year with unrestricted reserves of £2,705,833 (2022: £2,730,071) consisting of General Funds of £1,708,852 (2022: £1,507,853), Restricted Funds of fnil (2022: £128) and the aforementioned Building Fund £996,981 (2022: £1,129,627) The income received for the year was £509,864 (2022: £554,822). Income Most of our income comes from members’ subscriptions. Other events are intended to cover their costs and modest entry prices are charged for social functions. The Synagogue also runs a Kosher and Judaica shop: this is designed to bring Kosher food to members who otherwise may have to travel far to buy it. As such it is not designed to be profit-making but to break even. Reserves Policy The unrestricted reserves are maintained to support the continuing activities of the Synagogue. The Synagogue aims to maintain approximately 2 months’ worth of expenditures in the current account at all times. When applicable, the Synagogue will transfer funds between accounts and/or open new accounts to optimise the balance protected under the Financial Services Compensation Scheme (FSCS). In doing so, the Synagogueis mindful to consider the financial strength-ofthe -deposittaker— Total reserves held at the year-end were £2,705,833 (2022: £2,730,199) which, as previously stated, included Restricted Funds of £nil (2022: £128) and the designated reserves of £996,981 (2022: £1,129,627) for the Building Fund. Free reserves at the year-end were £175,983 (2022: £160,701).

Financial Management

The Treasurer prepares a detailed budget for the forthcoming financial year that is approved by the Board of Trustees. In addition, a review of the Synagogue’s actual vs. budget expenditures and cash position is presented at each Board meeting.

The Synagogue has a part-time accountant to produce monthly management accounts, reconcile bank statements and manage payroll. Plans for Future Periods Significant expenditures are planned in FY2023 and future years in a number of areas including:

Some of these expenditures will be financed by donations, but most are covered by the Synagogue’s current cash balance and cash inflow from the Synagogue’s operating activities. Training The Security Team receives help and guidance from the Community Security Trust (CST) and Thames Valley Police on an ongoing basis. Changes to security provisions are taken, as and when required, based on advice from the CST, the Police, the head of the synagogue security team and the Synagogue Council.

The Synagogue regularly trains Religion School teachers and Classroom assistants. New classroom assistants are given induction training at the beginning of term and then they have support from their teachers through the year. We also attend the DJE training at the Manor House annually and occasionally have Foundation Teacher courses at Maidenhead. Teachers and other staff are also invited to first aid training, which some are able to take up. We maintain adequate ratios of first aid qualified staff.

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Maidenhead Synagogue Limited

Report of the Trustees (continued) for the year ended 31st August 2023

General Data Protection Regulations

The Synagogue continues to monitor its compliance with the General Data Protection Regulations (GDPR) that came into effect on 25th May 2018, including:

Publicity and Marketing

The Synagogue does not generally publicise itself to the general public. Most new members join through personal contacts or referrals from the Movement for Reform Judaism. However, it does encourage contacts with other religions throughout the Thames Valley and hosts visits from schools in Berkshire and Buckinghamshire as part of their religious studies programmes.

In addition, the Rabbi ensures that he is informed of Jewish families moving into the area and he treats it as part of his role to reach out to all such families and to make them aware of Maidenhead Synagogue and its services.

COVID-19

As mentioned above Covid restrictions had effectively finished by the beginning of the financial year and we were operationally and financial back to the situation that existed prior to the outbreak in March 2020.

lf further restrictions were to be introduced, we project that there would still be sufficient income to maintain the Synagogue’s operations for a further 12 months or more from the signing date of these accounts.

No changes have been made to our designated funds as a result of COVID-19.

The Synagogue will continue to track any further Government guidance on COVID-19 and will update its policies, as required, to ensure compliance with those guidelines.

Trustees’ responsibilities

The Trustees (who are also directors of Maidenhead Synagogue Limited for the purposes of company law) 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).

Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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Maidenhead Synagogue Limited

Report of the Trustees (continued) for the year ended 31st August 2023

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Auditors

A resolution will be proposed at the forthcoming Annual General Meeting to reappoint Wenn Townsend as auditors to the charity for the forthcoming year.

Small company exemption

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small.companies’ regime. 7

On behalf of the Trustees

Rob Gilbert

So-@..... 2024

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Maidenhead Synagogue Limited Independent Auditor’s Report to the members of Maidenhead Synagogue Limited

Opinion

We have audited the financial statements of Maidenhead Synagogue Limited (the ‘charitable company’) for the year ended 31st August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, Cash Flow Statement, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor's report thereon contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

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We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Maidenhead Synagogue Limited

Independent Auditor’s Report to the members of Maidenhead Synagogue Limited (continued)

Responsibilities of Trustees As explained more fully in the Trustees’ responsibilities statement set out on pages 6 and 7, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine Oris necessaryerror. to enable the preparation of financial statements that are free from material misstatement, whether due to fraud In preparing the financial Statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of alternativeaccounting butunlessto do theso.Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic

Auditor’s responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: Www. fre, org.uk/auditorsresponsibilities.This description-forms-part of our auditor's report.

Use of our report This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

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Maidenhead Synagogue Limited

Balance Sheet at 31st August 2023

Note Note Unrestricted Funds
General
Designated		 Restricted
‘Total
Total
Funds
2023
2022
Fixed assets £
£		 £
£
£
Tangiblefixedassets 7 1,532,869
996,981		 - 2,529,850 2,569,370
Current assets
Stock
Debtors
Cash atbankand in hand		 8 2,300
-
13,223
-
221,941
-		 -
2,300
2,550
-
13,223
35,769
-
221,941
219,134
TT
—sS
237,464
-
-
237,464
257,453
.
.
Creditors: amounts falling
duewithinoneyear 9 (61,481)
-		 -
(61,481)
(96,624)
——Net-current-assets : - — = - K/
”
175,983
-		 -
175,983
160,829
Totalassets lesscurrent .
spege
liabilities		 “YSARBES
aoeee
1,708,852
996,981		 ey
- 2,705,833 2,730,199
Net
assets		 SL
1,708,852
996,981
- 2,705,833
2,730,199
Funds eee
Unrestricted—General
Unrestricted—Designated
Restricted		 10
10		 1,708,852
-
-
996,981
-
-		 -
1,708,852
1,600,444
-
996,981
1,129,627
-
-
128
—
1,708,852
996,981
-
2,705,833
2,730,199
a

The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable to companies subject to the small companies’ regime. The financial statements were approved by the Board on Bo20 \ .... 2024 and signed on its behalf by:

Rob Gilbert (Treasurer)

Company number: 5512194

The notes on pages 13 to 21 form part of these accounts

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Maidenhead Synagogue Limited

Cash Flow Statement

31st August 2023

2023 2022
£ £
Operating surplus (see below) (25,950) (46,880)
Depreciation 58,125 60,276
(Increase)/decrease in debtors 22,546 (1,873)
Increase/(decrease) in creditors (35,143) 20,629
Decrease in stock 250 254
Net cash inflowfrom operating activities 19,828 32,406
Cash flowstatement
Net inflow from operating activities 19,828 32,406
‘Returns on investments
and servicing offinance interest received		 - 1,584 9,167
Capital expenditure (18,605) (8,281)
(Decrease)/increase in cash 2,807 33,292
Reconciliation of net cash flow to movement in net debt
Net funds at 1st September 2022 219,134 185,842
(Decrease)/increase in cash 2,807 33,292
Netfunds at 31stAugust 2023 221,941 219,134
Reconciliation of net movement in funds to operating surplus / (deficit)
Net movement in funds per SOFA (24,366) (37,713)
Less:
interest receivable		 (1,584) (9,167)
Operatingsurplus (25,950) (46,880)

The notes on pages 13 to 21 form part of these accounts

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Maidenhead Synagogue Limited Notes to the Financial Statements for the year ended 31st August 2023

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  1. Accounting policies The following accounting policies have been used consistently in dealing with items which are considered material to the Charity’s financial statements.

a) Basis of preparation The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. The Trustees expect the Charity to continue to operate for at least 12 months from the signing date of the accounts.

b) Income Donations and other income are credited as incomein the year in which they are receivable, No donations “or income are recognised until receipt is probable. Tax recoverable on income received is recognised in the same period that its associated income is recognised. Legacies are recognised when the Charity is notified of an impending distribution and the amount receivable is known. Subscription income is deferred when it is received in advance of the accounting period to which it relates.

Expenditure is recognised when a liability is incurred by the existence of a legal or constructive obligation, it is probable that a settlement will be required and the amount of the obligation can be measured reliably. The Charity is not registered for VAT and all expenditure includes VAT wherever applicable. Charitable activities include expenditure associated directly in meeting the objects of the Charity along with support costs relating to these activities.

Governance costs include those costs incurred in meeting the constitutional and statutory requirements of the Charity.

Support costs are allocated to activities based on usage of the support functions by the activity as considered by the Trustees.

d) Fixed assets Expenditure on fixed assets is capitalised. Depreciation is calculated to write off the cost of tangible fixed assets over their expected useful lives as follows:

Furniture and equipment 25% reducing balance Motor vehicles 15% reducing balance Freehold buildings 2% straight line Freehold land Nil

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Maidenhead Synagogue Limited

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Notes to the Financial Statements (continued) for the year ended 31st August 2023

  1. Accounting policies (continued)

e) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

g) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

h) Funds

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

k) Pension costs

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Maidenhead Synagogue Limited Notes to the Financial Statements (continued) for the year ended 31st August 2023

2. Income

Unrestricted Funds
General
Designated		 Unrestricted Funds
General
Designated		 Restricted
Funds		 Total
2023		 Total
2022
£ £ £ £ £
2a Subscriptions
Annual subscription (including GiftAid) 404,963 - - 404,963 364,094
2b Donations and bequests 58,007 284 - 58,291 142,086
2c Other income
Religious
Religious
Religious
Education
Socialevents
______Miscellaneous		 - Seder
3,390
-
-
Burial receipt
8,349
-
-
General
1,025
-
2,665
-
- General
3,565
-
ia ————		 -
3,390
2,770
-
8,349
157
-
1,025
929
-
2,665
1,643
-
3,565
2,748
sssFOE
eee
26,826		 - - 26,826 22,203
—esessseseSsSaSS
2d Trading income
Koshershop 18,200 - - 18,200 17,272
eee
2e Investment income
Interestreceived 1,584 - - 1,584 9,167
Totalincome $A
509,580
284
-
509,864
554822
Reema

Maidenhead Synagogue Limited

Notes to the Financial Statements (continued) for the year ended 31st August 2023

3. Expenditure Expenditure Unrestricted Funds Unrestricted Funds Restricted Total Total
General Designated Funds 2023 2022
£ £ £ £ £
3a__Religious affairs
Religious affairs 6,844 - - 6,844 9,437
Homeless lunches 595 - - 595 1,450
World Jewish Relief-Ukraine appeal - - 128 128 45,309
Sederexpenses 3,056 - - 3,056 2,535
Board ofdeputies 495 - - 495 1,845
Support costs (note 3h) 66,752 - - 66,752 65,281
77,742 - 128 77,870 125,857
3b Education
Teachers’ salaries 23,569 - - 23,569 23,081
Youth worker salary and expenses 304 - - 304 -
Community projects 29,909 - - 29,909 28,806
sce POE ES had TLNa I I ee Ape
Chederexpenses 1,454 - - 1,454 951
Ganon expenses 77 - - 77 90
Support costs (note 3h) 66,753 - - 66,753 65,281
125,298 - - 125,298 118,523
3c Communication
Hadashot expenses 10,818 - - 10,818 12,687
Support costs (note 3h) 66,753 - - 66,753 65,281
77,571 - - 77,571 77,968
3d Social and welfare
Social events 4,835 - - 4,835 2,566
Support costs (note 3h) 66,753 - - 66,753 65,281
71,588 - - 71,588 67,847
3e Property and maintenance
Salary - 26,609 - 26,609 27,197
Heating and lighting - 13,487 - 13,487 11,836
Rates - 2,678 - 2,678 1,592
Cleaning - 7,967 - 7,967 1,437
Security - 341 - 341 4
Building maintenance - 35,469 - 35,469 68,138
Depreciation — buildings - 45,332 - 45,332 45,084
- 131,883 - 131,883 155,288

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Maidenhead Synagogue Limited Notes to the Financial Statements (continued) for the year ended 31st August 2023

3f Koshershop and other Unrestricted Funds _Restricted
General Designated
Funds
£
£
£		 Unrestricted Funds _Restricted
General Designated
Funds
£
£
£		 Total
2023
£		 Total
2022
£
KosherandJudaicashopcosts 18,722
-		 - 18,722 15,699
SS
3g Governance costs
Auditandaccountancy
Legalandconsultancy
Book-keeping
Healthandsafety		 6,800
-
88
-
23,363
-
-
1,047		 -
-
-
-		 6,800
88
23,363
1,047		 7,480
13
22,640
1,220
30,251
1,047		 - 31,298 31,353
eee
3h Support costs
ec Salaries
aet
Rabbi's
expenses
MRJ
contributions
Postageandstationery
Telephone
Insurance
Training and courses		 149,707
-
aa
3,130
-
49,153
-
13,825
-
1,170
-
4,617
-
-
-		 -
-
-
-
-
-		 149,707
12,155
3,130
49,153
13,825
1,170
4,617		 136,160
11,128
4,681
49,052
8,971
1,383
4,254
Sundryexpenses
Office
ITexpenses
Bank
charges
Bank
interest
Depreciation—furnitureandequipment
Depreciation—vehicle		 4,265
-
15,583
-
380
-
233
-
12,307
-
486
-		 -
-
-
-
-
-
-		 -
4,265
15,583
380
233
12,307
486		 -
4,546
25,110
631
-
14,636
572
267,011
-		 - 267,011 261,124
mem

Support costs are allocated evenly between the activities in notes 3a, 3b, 3c and 3d on the basis of usage. 3i = Net income/(expenditure) is after charging

2023 2022
£ £
Auditors’ remuneration -
-		 auditfees
otherfees		 6,800 7,480
Depreciation -
58,125		 -
60,276

-17 -

—

Maidenhead Synagogue Limited Notes to the Financial Statements (continued) for the year ended 31st August 2023

4. Staff costs and Trustees’ remuneration 2023 2022
£ £
Salaries 185,717 174,407
Social security costs 14,168 12,031
Pension costs 12,155 11,128
212,040 197,566
The average weekly number ofemployees during
the year, calculated ona full time equivalent basis, was: 4 4
The average monthly head countwas: 31 31
Number ofemployees towhom retirement benefits are
accruing
under money purchase SChHeEMme@S
Employeesreceivingemolumentsbetween£100,000-£110,000 1 1

The pension contributions in the year in respect of the high paid staff totalled £10,004 (2022: £9,420).

The Trustees received no remuneration and were not reimbursed for any of their expenses in the year.

Remuneration of key management personnel was £nil (2022: £nil).

5. Pension costs

The charity operates a contributory pension scheme for certain employees. It is a defined contribution scheme and contributions are charged in the statement of financial activities as they accrue. The charge for the year was £12,155 (2022: £10,699) and £1,714 was outstanding at the year end (2022: £1,423).

6. Taxation

The company is a registered charity and as such is not liable to pay corporation tax on any surplus applied for charitable purposes.

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a

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Maidenhead Synagogue Limited Notes to the Financial Statements (continued) for the year ended 31st August 2023

7. Tangible fixed assets

:

Tangible fixed assets
Freehold
Furniture
Vehicles
Total
Property
and
equipment
£
£
£
£
Cost
At 1stSeptember 2022
Additions		 3,253,312
232,625
13,995
3,499,932
13,284
5,321
-
18,605
At31stAugust2023 —
3,266,596
237,946
13,995
3,518,537
Depreciation ee
At 1stSeptember2022
Chargefortheyear		 731,091
188,717
10,754
930,562
45,332
12,307
486
58,125
At 31st August2023.0 se
776,423
204,024
41.240—
988,687
Net book value ee
At 31stAugust2023 2,490,173
36,922
2,755
2,529,850
At31stAugust2022 SSS
2,522,221
43,908
3,241
2,569,370
SS
00°0°00—_0000@—$—$0500606060680565555—————

Included within freehold property is land with a cost of £1 million, which is not depreciated.

An element of the freehold property’s net book value is shown in designated funds of £996,981 in 2022/23 and £1,129,627 in 2021/22.

8. Debtors 2023 2022
£ £
Taxrecoverable
Otherdebtors		 9,892
3,331		 10,461
25,308
13,223 35,769

All 2023 and 2022 debtors were unrestricted general funds.

-19 -

  1. Creditors: amounts falling due within one year

|

Maidenhead Synagogue Limited

Notes to the Financial Statements (continued) for the year ended 31st August 2023

Creditors: amounts falling due within one year
2023 2022
£ £
Accruals 7,200 7,000
Deferred income 25,961 27,186
Taxation & Social Security 3,717 6,303
Trade and creditors 10,580 33,808
Other creditors 14,023 22,327
61,481 96,624

Deferred income includes subscriptions in advance. Movements were as follows:

2023 2022
£ £
Received in advance at start of period 27,186 40,535
Received in year 403,738 350,745
Received in advance at end of period (25,961) (27,186)
RecognisedinSOFA(excludingGiftAid) 404,963 364,094

10. Funds

The designated funds are as follows:-

At ist Income Expenditure Transfer At 31st
September August
2022 2023
£ £ £ £ £
Building fund 1,129,627 284 (132,930) - 996,981
Total designated funds 1,129,627 284 (132,930) - 996,981
At 1st Income Expenditure Transfer At 31st
September August
2021 2022
£ £ £ £ £
Building fund 1,260,059 26,076 (156,508) - 1,129,627
Totaldesignatedfunds 1,260,059 26,076 (156,508) - 1,129,627

The building fund is a designated fund and was established to purchase the new building and to fund any required alterations and improvements.

-20-

———

Maidenhead Synagogue Limited Notes to the Financial Statements (continued) for the year ended 31st August 2023

10. Funds (continued)

The restricted funds are as follows:-

At 1st Income Expenditure Transfers At 31st
September August
2022 2023
E £ £ £ £
World Jewish Relief—Ukraine Ukraine appeal 128 - (128) - -
Total restricted funds 128 - (128) - -
At 1st Income Expenditure Transfers At 31st
September August
2021 2022
——— ee ee
World Jewish Relief— Ukraine appeal - 45,437 (45,309) - 128
Totalrestrictedfunds - 45,437 (45,309) - 128

The World Jewish Relief (Ukraine appeal) fund represents donations by members, given to World Jewish Relief to support Jewish Ukrainians impacted by the war with Russia.

12. Legal status

The charity is also a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

13. Related party transactions

There were no related party transactions to disclose for the current or preceding year.

-21-