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2020-08-31-accounts

Draft Financial Statements at 09 March 2021 at 19:08:11

Charity Registration No. 1117590

Company Registration No. 05890261 (England and Wales)

MASORTI JUDAISM

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Simon Samuels
Adam Rose
Emma Rozenberg
Miriam Farbey
David Caplan
Joel Fenster
Stephen Greene
Clare Levy
Moira Hart (Co-chair)
Leonie Fleischmann (Co-chair)
Company Secretary and Chief Executive Matthew Plen
Charity number 1117590
Company number 05890261
Auditor HW Fisher LLP
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
Bankers CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Barclays Bank PLC
126 Station Road
Edgware
Middlesex
HA8 7RY

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

CONTENTS

Page
Trustees' report 1 - 12
Statement of Trustees' responsibilities 13
Independent auditor's report 14 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 -29

MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTOR’S REPORT)

FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees (who are also directors of the charity for the purposes of the Companies oct) present their annual report together with the audited financial statements of Masorti Judaism (the company) for the year ended 31 ougust 2020.

The Trustees confirm that the onnual Report and financial statements of the company have been prepared in accordance with the Charity's Memorandum and orticles of ossociation, the Charities oct 2011, the Companies oct 2006 and "occounting 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 (FRS 102) (effective 1 January 2019)".

1. Objectives and activities

The Trustees review the principal aims, objectives and activities of Masorti Judaism each year to ensure that Masorti Judaism remains focused for the foreseeable future on its stated purpose and objects. The Trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the objectives and aims of Masorti Judaism in planning future activities, and in particular how the planned activities will further the public benefit.

a. Purpose and core values

The charitable objects of Masorti Judaism are:

  1. To advance the Jewish religion for the benefit of the public in accordance with the teachings and practices of Masorti Judaism.

  2. For the public benefit to promote the education of members of the Jewish faith in such ways as the charity trustees think fit.

  3. To develop the capacity and skills of the members of Jewish communities throughout the UK in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society.

  4. To advance in life and help young people through:

  5. a. The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;

  6. b. Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

Our purpose as stated in our strategic plan is ‘to develop flourishing communities, rooted in traditional practice and modern values, where people can find meaning by connecting to Judaism and to each other’. We aim for every Masorti community and the movement as a whole to be:

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

Values This means…
Traditional •
Operating in accordance with halacha as understood by the Rabbinical
ossembly and the UK Masorti Rabbis
•
Gently encouraging our members to intensify their involvement in Jewish
learning and observance
•
Explicitly grounding our work and communal activity in Jewish values, for
example:

Mitzvah– commandedness,

Talmud torah– Jewish learning,

Klal israel- Jewish peoplehood,

Kol yisrael arevim ze ba-ze–Jewish mutual responsibility,

Kvod ha-briyot- human dignity,

Mahloket– pluralism and debate,

Tikkun olam– repairing the world,

The centrality of_medinat yisrael_– the state of Israel
Inclusive •
Welcoming and integrating new people intentionally and proactively
•
Building communities that reflect a wide range of Jewish belief and practice
•
Celebrating diversity and ensuring our communities accommodate people
irrespective of gender, sexuality, ethnicity, relationship and parental status,
income, age, disability and political views
•
Enabling the increasing number of mixed Jewish/non-Jewish families to
participate fully in communal life
0earning •
Regularly participating in Jewish learning
•
Engaging with the world in an open-minded and intellectually honest way
•
Giving and receiving feedback, evaluating our work, and responding
dynamically to the results

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

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Empowering •
Putting ‘people before programme’ and prioritising relationship-building
•
Systematically talent-spotting, recruiting and developing leaders
•
Maximising volunteer involvement
•
ovoiding unnecessary hierarchies and making decisions at the lowest
possible level

b. Achievements 2019-20

2019-20 has been a year of crisis but we are proud to report that Masorti Judaism has risen to the challenge. Both before and during the Covid-19 pandemic we performed more successfully than ever, supporting our communities, developing leaders and keeping young people connected to Judaism. The three month lockdown in opril-June 2020 saw an immediate and successful move to remote working and the rapid introduction of programmes to support community leaders and provide youth programming online.

We would like to pay tribute to the rabbis, chazanim and laypeople who run our communities and whose energy and creativity brought about our highest ever levels of engagement, even when it was impossible to meet face to face. We estimate that during lockdown our communities ran almost 650 online events with a total attendance of 16,000 people. That’s 54 events and 1400 attendees per week.

While the impending recession will inevitably pose funding challenges for us as a charity in the next few years, thanks to creative fundraising and the commitment of our supporters, we have emerged from this year in a stronger financial position than we could have anticipated.

Our key achievements this year have been as follows.

Community and leadership development

  1. Supported onthony 0azarus through his third year of rabbinical training at 0eo Baeck College and have recruited a new student, Jessica Spencer, who will be beginning her studies at Hebrew College in Massachusetts this term

  2. Ran an effective Jewish Community Organising training course for 17 emerging leaders from six communities, initially held face to face and moving online during the lockdown. 100% of respondents to a feedback survey said they enjoyed the course, 100% said they learned useful knowledge and skills, 63% said they had deepened their leadership involvement in their communities and 100% said they would recommend the course to other people from their communities

  3. Ran the Masorti Leadership Series on Purpose Driven Community – four online sessions open to leaders from across the movement (originally planned as a full-day face to face conference)

  4. Provided intensive support to community chairs through the Chairs’ Forum, by convening groups to help plan for re-opening after lockdown and for the Yamim Noraim (high holydays) and by sharing guidance from government, other synagogue bodies and our own communities

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

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  1. Gave focused support to key communities on issues of community and leadership development, including New Stoke Newington, Elstree and Borehamwood, Edgware, Mosaic (Hatch End) and Kol Nefesh

  2. Provided rabbinic and cantorial support to small communities including New Essex, 0eeds, 0iverpool, Oxford and the Havurah

  3. Gave evidence to the Independent Inquiry into Child Sexual obuse and developed a set of guidelines for safeguarding and child protection across the Masorti movement, which will be rolled out as a resource in the coming year

Young people: Noam and Marom

  1. 0aunched the Noam Bet Midrash , a high level, weekly Jewish learning programme for 16 young people, taught by Rabbi Roni Tabick

  2. Ran Mercaz Noam , our weekly youth leadership training course, for 80 young people in years 11 and 12

  3. Ran ‘U-Kelim’ , an online alternative to the Kelim programme at the Conservative Yeshiva in Jerusalem which could not be run due to the pandemic. 20 participants took part in five days of learning with 13 rabbis and teachers. Isabel Bard, a Noam graduate and one of the teachers on the programme, said: “To teach Kelim as a former Kelimnik and CY alum was just amazing. It was a huge privilege for me to be able to share my learning back into the Noam system and to learn from the other Noamniks in turn.”

  4. Supported peer-led Marom groups at nine campuses (Durham, Cambridge, Bristol, 0eeds, Manchester, Birmingham, Oxford, Edinburgh and Nottingham) to hold three events per term while university was in session

  5. Sent five 18-year olds on our Drachim gap year programme in Israel

  6. Ran daily online youth programming for three months while schools were closed

  7. Signed up 302 young people for Noam summer camps and Israel tour , hitting our targets. When residential programmes had to be cancelled, Noam was one of the only movements to carry on planning face-to-face day camps. We ran successful Covid-19 compliant camps for 299 young people age 5 to 18, including 74 madrichim (leaders), across six sites. One parent told us: “You made great memories and inspired [my daughter] to want to be more involved in Noam. The camp had a great vibe and made up for the rubbish few months everyone had been having. I really appreciated that you didn't give up hope of getting the kids together. That meant a lot and you are dedicated and fabulous people to have persisted as you did. Thank you.”

Thought leadership, communications and events

  1. Ran online learning events for over 400 people including Weathering the Storm on Masorti responses to the pandemic, a session on Coronavirus, Halacha and the High Holydays, a briefing on 0abour party antisemitism with the Jewish 0abour Movement, and an evening with journalist Emma Barnett

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

  1. Supported the Masorti rabbis to produce halachic and pastoral guidance on saying kaddish in an online minyan, observing Pesach under lockdown, livestreaming services on Shabbat, and observing the High Holydays during the pandemic

  2. Created a web portal and social media campaign to share online resources produced by all our rabbis and communities across the whole movement, maximising access to Jewish content and community life during the lockdown

  3. Ran effective social media campaigns . Our most successful Facebook post – Rabbi Wittenberg’s statement on 0abour party antisemitism – had 20,000 views. Other top posts including a Rosh Hashana campaign and posts on Zoom on Shabbat, Black 0ives Matter and Weathering the Storm reached between 1000 and 4000 people. Our Facebook page increased its followers from 1100 to 1400 over the year. Our new Instagram account has gone from 200 to 700 followers

Fundraising

  1. Raised £89,950 in major gifts (£3000+) from 15 donors.

  2. Raised £137,746 in small donations (under £3000), including

  3. £59,000 at the annual dinner

  4. £13,216 at the Noam supper quiz

  5. £18,000 from Noam challenge/sponsored events and an emergency appeal during the pandemic

  6. £11,000 from parents who donated their camp and Israel tour deposits when those programmes were cancelled

  7. Secured £216,000 of funding from trusts and foundations , including £73,000 of emergency funding from the National 0ottery and the 0ondon Community Response Fund for our work supporting community leaders and young people during the pandemic

  8. Ran a successful annual dinner raising a total of £111,000 (large and small donations) from 245 guests; extremely positive feedback on our most professional event ever. Keynote speakers were author and activist Elif Shafak and Sarah Mullaly, the Bishop of 0ondon, in conversation with Rabbi Jonathan Wittenberg

Support functions

  1. Moved effectively and rapidly to remote working with the onset of the pandemic

  2. Successfully implemented a new database/CRM solution – Beacon CRM

  3. 0aunched a systematic process of evaluation and impact reporting on all events and programmes

  4. Created succession plans for senior professional roles in line with best practice in the sector, and successfully recruited highly skilled candidates to join the board of trustees

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

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c. Aims

Our strategic plan for 2018-21 articulates the following aims:

1. Developing our synagogue communities

Synagogues are the traditional core of the Jewish community: membership organisations whose primary regular activity is tefila (prayer services), around which other social, cultural, welfare, charitable and educational programming revolves. We aim to strengthen our synagogue communities, enabling them to continuously improve their work, meet the needs of their members, achieve their goals and grow. For practical reasons our priority is developing our existing communities. However, we will not rule out the development of new communities if circumstances favour this option, particularly in the later stages of this plan’s implementation.

In the short-term, developing our existing synagogue communities is likely to be the primary means for growing the movement numerically. We aim to grow our synagogue membership by 750 individuals (18% growth) over five years. The assumption here is that growth will be a natural outcome of successful communities and therefore the bulk of our investment should be in training and recruiting klei kodesh (rabbis and other clergy) and developing high-quality community leaders, enabling our communities to address the needs of all our members. We will also develop marketing and financial initiatives to encourage specific demographics to join our synagogues, and may also offer direct operational support in particular to smaller communities.

2. Supporting youth, young adults and young families

Young people are the future of our movement. We will continue to support and invest in young people and young families by developing high quality local and centralised youth programming via Noam, and by providing professional advice to boost the quality of our communities’ provision. We aim to grow participation in Noam programming in a controlled, sustainable way year on year, minimally keeping pace with the growth in our communities. We will also increase our investment in Marom with the aim of developing thriving, innovative community life, Jewish programming and leadership development with young adults aged 18-25.

3. Nurturing Jewish innovation

While many people still see the synagogue as the primary focus for Jewish involvement, declining membership rates suggest that there are growing numbers of people – especially in their 20s and 30s – whose Jewish needs are not being met by synagogues. We have a responsibility and an opportunity to experiment with alternative models of Jewish community and engagement in order to broaden our appeal, meet the needs of wider circles of Jews, and rise to the challenge of creating meaningful, relevant forms of Jewish life. This means incubating experimental models of community and Jewish programming and then supporting the roll-out of the successful results.

We aim to facilitate and support a network of five community groups or programmes, engaging in potentially fluid and innovative ways up to 1,000 people, and to support the emergence of these initiatives by investing in Marom as an incubator for Jewish innovation among young people.

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

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This aim supports our long-term goal of community development. It also specifically addresses the priority of investing in young people, particularly young adults in the increasingly significant life-stage of ‘emerging adulthood’ (20s and 30s), whose need for non-synagogue, innovative forms of Jewish and community involvement have been clearly identified.

4. Promoting our ideas – Jewish thought leadership

os well as connecting people with Masorti Judaism by attracting them into our communities, we want to achieve this by bringing our ideas to them and influencing the Jewish discourse of the wider community. Our aim is to articulate a compelling vision of Judaism and promote it to as wide an audience as possible. This means sourcing, producing and disseminating content that explores new, compelling approaches to Judaism, community and Jewish life across diverse media and platforms: writing, video, events, social media, traditional and digital marketing and print.

5. Structure, Governance and Management

a. Constitution

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of ossociation on 28 July 2006. The company is constituted under a Memorandum of ossociation dated 5 July 2018 and is a registered charity number 1117590.

b. Organisational structure and decision making

i. Governing Document

Masorti Judaism (formerly The ossembly of Masorti Synagogues) is a registered company limited by guarantee, number 05890261, and a registered charity, number 1117590, and is governed by its Memorandum and orticles of ossociation.

The directors are the Charity Trustees and appointed members of the Board of Trustees. The Board is responsible for managing and carrying out the objectives of Masorti Judaism in accordance with its Memorandum and orticles of ossociation.

The company has no share capital, but under the terms of its Memorandum and orticles of ossociation every member is liable to contribute a sum not exceeding £1 in the event that the company is wound up whilst they are a member or for one year thereafter.

ii. Recruitment and Appointment of Trustees

New trustees are proposed by a nominations committee following a transparent, skill-based recruitment process and elected by the members at a general meeting. There are nine elected trustees and up to three coopted trustees.

iii. Trustee Induction and Training

Masorti Judaism continues to review its policies and procedures for the induction and training of both new and existing Trustees.

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

We have initiated a series of training sessions aimed at Trustees. New Trustees are inducted through meetings with the co-chairs and staff and are provided with important information about the organisation such as the strategic development plan and the organisational budget.

iv. Organisation Structure

The Trustees meet 10 times a year to manage the affairs of Masorti Judaism, review its strategic plan and decide on its overall direction. The day to day running of the organisation is delegated to the Chief Executive and the senior leadership team and is supervised by the co-chairs of trustees

v. Senior leadership team

The senior management team comprises:

The setting of pay and remuneration of the charity’s key management personnel is based on industry benchmarks and is reviewed on an annual basis.

c. Board of Trustees

The following trustees served during the year and up to the date of signature of the financial statements:

Miri Benchetrit (resigned 6 November 2020)

David Caplan (treasurer - appointed 8 September 2020)

Sara Bloch (resigned 8 September 2020)

Paul Collin (treasurer - resigned 8 September 2020)

Joel Fenster (appointed 8 September 2020)

Stephen Greene (appointed 8 September 2020)

Clare 0evy (appointed 8 September 2020)

Miriam Farbey (appointed 17 September 2020)

Shirley Fenster (resigned 8 September 2020)

0eonie Fleischmann (co-chair)

Bruce Rigal (resigned 8 September 2020)

Ben Russell (resigned 8 September 2020)

Simon Samuels

Moira Hart (co-chair – appointed 1 September 2019)

odam Rose (appointed 1 September 2019)

Emma Rozenberg (appointed 1 September 2019)

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

d. Risk Management

The Board of Trustees have been actively assessing the major risks that Masorti Judaism faces on an ongoing basis and are of the opinion that maintaining reserves at reasonable levels, combined with regular reviews of the controls over key financial systems, has provided sufficient resources in the event of adverse conditions to enable Masorti Judaism to continue its operations. The Trustees have also regularly considered other business risks faced by Masorti Judaism and have endeavored to improve its operating systems in order to reduce these risks.

omong the risks identified are the possibility of loss of income due to fluctuating levels of voluntary donations and unanticipated changes in participant numbers at programmes and events, and the possibility of failing to achieve strategic aims due to lack of cooperation from key partners and stakeholders. In the coming year, an additional key risk includes cancellation of programmes due to the Covid-19 pandemic.

The key controls used by Masorti Judaism include:

In order to mitigate the financial risks associated with fluctuating Noam summer programme numbers, the charity has developed enhanced participant recruitment strategies and has adopted more robust financial reporting and planning systems to ensure that planned expenditure more closely matches projected income.

e. Volunteers

Masorti Judaism works with over 200 volunteers as youth leaders on residential camps and local activities, campus representatives and young adult leaders, steering group members and volunteers for fundraising and educational events, and members of various committees. os a community organisation, we work with volunteers as a matter of principle rather than financial necessity and so have not calculated the financial value of the work carried out by these volunteers.

6. Membership

The Board of Trustees may at its discretion and by a two-thirds majority vote admit as a member any congregation of Jews which has satisfied the Board that it is properly constituted as a charity and is willing to

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

be bound by the Memorandum and orticles of ossociation of Masorti Judaism. Following any such admission as a member, the congregation of Jews so admitted shall be counted as a Constituent Synagogue for all purposes of the Memorandum and orticles of ossociation of Masorti Judaism. Each constituent synagogue will pay a subscription to Masorti Judaism as determined by the Board of Trustees.

Masorti Judaism's constituent members in 2019-20 comprised:

Name of Synagogue Registered Charity
No.		 Number of
Members		 Number of
Members
**Jan 2019 ** Jan 2020
Edgware Masorti Synagogue 1117623 389 356
Elstree and Borehamwood Masorti Community 1139041 138 161
Hatch End Masorti Synagogue 10809051 108 110
Kol Nefesh Masorti Synagogue 1081444 109 135
New Essex Masorti Synagogue (formerly Buckhurst Hill Masorti
Synagogue)		 297101 97 120
New 0ondon Synagogue 1133578 687 618
New North 0ondon Synagogue 1094668 2128 2155
New Stoke Newington Shul 1176510 104 125
St olbans Masorti Synagogue 1118649 283 332
TOTAL 4043 4112

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

Masorti Judaism's associate members in 2019-20 comprised:

Name of Synagogue Registered Charity No. Number of Members* Number of Members*
Havurah 100 48
0eeds Masorti Community 50 30
0iverpool Masorti 20 20
Ohel Moed 50 50
Oxford Masorti Group 30 30
TOTAL 250 178

*Estimated figures; most associate members do not have dues-paying membership arrangements.

**New Whetstone Synagogue disaffiliated from Masorti Judaism during the year.

7. Financial Review

a. Going concern

ofter making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the occounting Policies.

b. Key financial performance indicators

The Statement of Financial octivities (SOFo) set out on page 3, shows that the charity received donations and income of £1,051,405 (2019: £1,268,047) of which £888,003 (2019: £1,347,287) was paid out of expenses, leaving a surplus of £163,402 (2019: deficit of £79,240).

Masorti Judaism has relied upon subscriptions from member synagogues, as well as grants and donations as referred to in these financial statements for both restricted and unrestricted activities. The support of the donors has been extremely valued by the Board.

c. Reserves policy

It has been the policy of Masorti Judaism to maintain the unrestricted funds at levels which are adequate to meet ongoing management, administration and support costs. o detailed reserves policy has been adopted by the Trustees which set out the aim of holding £115,000 of free reserves. The level of free reserves is monitored and reviewed regularly by the Board. The level of free reserves at year-end 2020 stood at £136,229.

Restricted funds may only be used for the purposes established by the donors.

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MASORTI JUDAISM (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

d. Material investments policy

The Board has taken a prudent view regarding the investment of short term surplus funds. occordingly, these funds have been placed on easy access deposit with bankers.

e. Cooperation with other charitable organisations

Masorti Judaism has requested and received donations and grants from other charitable organisations for the furtherance of its objects. The charity has also extended assistance and support to other charitable organisations when considered desirable and in accordance with its objectives.

f. Covid-19 pandemic impact

The trustees have considered the impact of the Covid-19 pandemic on the Charity’s activities and finances. The pandemic has caused considerable disruption to the Charity’s operations. The primary change has been the cancellation of residential youth summer programmes and their replacement with non-residential day camps. The Charity has avoided any negative financial impact from the pandemic by implementing cost savings and a successful emergency fundraising programme. For the post year end period, trustees and staff completed forecasts encompassing various scenarios to ensure the Charity’s operation and finances could be maintained under various public health scenarios. The trustees have also prepared financial and cash flow forecasts to 31 March 2022 under the most pessimistic scenario, this demonstrates that the charity will be able to continue as a going concern.

8. Provision of Information to Auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415o of the Companies oct 2006.

This report was approved by the Trustees on .................. and signed on their behalf by:

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……………………………………………
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David Caplan

Trustee

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MASORTI JUDAISM

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2020

The Trustees, who are also the directors of Masorti Judaism for the purpose of company law, are responsible for preparing the Trustees' 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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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.

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Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF MASORTI JUDAISM

Opinion

We have audited the financial statements of Masorti Judaism (the ‘Charity’) for the year ended 31 August 2020 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the 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 Charity 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 our audit:

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE MEMBERS OF MASORTI JUDAISM

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors’ r eport included within the Trustees' r eport.

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:

Responsibilities of Trustees

As explained more fully in the s tatement of Trustees' r esponsibilities, the Trustees, who are also the directors of the Charity for the purpose 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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: http://www.frc.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 auditors' 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.

Andrew Rich (Senior Statutory Auditor)

for and on behalf of HW Fisher LLP

Chartered Accountants

Statutory Auditor

Acre House 11-15 William Road London NW1 3ER United Kingdom

.........................

  • 15 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2020

Unrestricted
funds
2020
Notes
£
Income and endowments from:
Donations and legacies
3
370,803
Charitable activities
4
226,955
Other trading activities
5
725
Investments
6
10
Other income
7
38,173
Total income
636,666
Expenditure on:
Raising funds
8
147,726
Charitable activities
9
447,553
Total resources expended
595,279
Net income/(expenditure) for the
year/
Net movement in funds
41,387
Fund balances at 1
September 2019
94,842
Fund balances at 31 August
2020
136,229		 Restricted
funds
2020
£
414,739
-
-
-
-
414,739
-
292,724
292,724
122,015
14,195
136,210		 Total
Unrestricted
funds
2020
2019
£
£
785,542
489,672
226,955
643,996
725
2,936
10
1
38,173
-
1,051,405
1,136,605
147,726
127,652
740,277
1,085,238
888,003
1,212,890
163,402
(76,285)
109,037
171,127
272,439
94,842		 Restricted
funds
2019
£
130,266
1,176
-
-
-
131,442
2,500
131,897
134,397
(2,955)
17,150
14,195		 Total
2019
£
619,938
645,172
2,936
1
-
1,268,047
130,152
1,217,135
1,347,287
(79,240)
188,277
109,037

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

  • 16 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

BALANCE SHEET

AS AT 31 AUGUST 2020

2020
Notes
£
Fixed assets
Tangible assets
13
Current assets
Debtors
14
154,379
Cash at bank and in hand
231,711
386,090
Creditors: amounts falling due within one year
15
(117,635)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
16
Unrestricted funds		 2019
£
£
3,984
148,458
81,070
229,528
(122,413)
268,455
272,439
136,210
136,229
272,439		 £
1,922
107,115
109,037
14,195
94,842
109,037

The financial statements were approved by the Trustees on .........................

.............................. David Caplan Trustee

Company Registration No. 05890261

  • 17 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2020

Notes
Cash flows from operating activities
Cash generated from/(absorbed by) operations
20
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2020
£
(3,030)
10		 £
153,661
(3,020)
-
150,641
81,070
231,711		 2019
£
(530)
1		 £
(55,713)
(529)
-
(56,242)
137,312
81,070
  • 18 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

Charity information

Masorti Judaism is a private company limited by guarantee incorporated in England and Wales The registered office is Alex ander House, 3 Shakespeare Road, London, N3 1XE .

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 (FRS 102) (effective 1 January 2019)". The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the Charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

The Trustees have considered the effect of the Covid-19 outbreak. The Trustees consider that the outbreak has caused considerable disruption to the Charity’s operations. The primary change has been the cancellation of residential youth summer programmes. However, the Trustees are confident that the Charity can continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. This will be achieved through t he Charity avoid ing any negative financial impact from the pandemic by implementing cost savings and a successful emergency fundraising programme . The Trustees have also planned for the coming year through assessing the Charity's operations and finances under various public health scenarios.

The Trustees have prepared financial and cash flow forecasts for the most pessimistic scenario for the year to 31 March 2022, demonstrating that the charity can continue as a going concern. The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operation for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives .

Restricted funds are funds which are used in accordance with the specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted funds is set out in the notes to the financial statements.

1.4 Incoming resources

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

  • 19 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

(Continued)

1.5 Resources expended

All expenditure is accounted for on an accruals basis and has been included under expenses categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.

Support costs are those costs incurred directly in support of expenditure on the objectives of the company. Governance costs are those incurred in connections with administration of the company and compliance with constitutional and statutory requirements.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 3 year straight line Computer software 3 year straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less .

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

  • 20 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 6 . In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There were no critical accounting estimates made in either year.

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2020
2020
£
£
Donations and gifts
95,556
153,733
Grant receivable
24,050
207,652
Membership fees
251,197
53,354
370,803
414,739		 Total
Unrestricted
Restricted
funds
funds
2020
2019
2019
£
£
£
249,289
161,904
51,555
231,702
88,963
67,183
304,551
238,805
11,528
785,542
489,672
130,266		 Total
2019
£
213,459
156,146
250,333
619,938
  • 21 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

4 Charitable activities

Educational, Educational,
religious and religious and
community community
2020 2019
£ £
Sales within charitable activities 159,793 601,654
Other income 67,162 43,518
226,955 645,172
Analysis by fund
Unrestricted funds 226,955 643,996
Restricted funds - 1,176
5 Other trading activities
Unrestricted Unrestricted
funds funds
2020 2019
£ £
Trading income 725 2,936
6 Investments
Unrestricted Unrestricted
funds funds
2020 2019
£ £
Interest receivable 10 1
7 Other income
Unrestricted Total
funds
2020 2019
£ £
Other income 38,173 -
  • 22 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

7 Other income

(Continued)

Coronavirus Job Retention Scheme (CJRS)

Other income comprises amounts received under the Coronavirus Job Retention Scheme, are recognised at the fair value of the grant received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. The income is recognised in other income on a systematic basis over the periods in which the associated costs are incurred, using the accrual model.

8 Raising funds

Unrestricted
Unrestricted
funds
funds
2020
2019
£
£
Costs of generating donations and event income
Other fundraising costs
76,220
65,532
Staff costs
71,506
62,120
Costs of generating donations and event income
147,726
127,652
147,726
127,652		 Restricted
funds
2019
£
2,500
-
2,500
2,500		 Total
2019
£
68,032
62,120
130,152
130,152

9 Charitable activities

Educational, Educational,
religious and religious and
community community
2020 2019
£ £
Staff costs 355,073 367,084
Direct costs 177,590 622,462
532,663 989,546
Share of support costs (see note 10) 181,076 203,378
Share of governance costs (see note 10) 26,538 24,211
740,277 1,217,135
Analysis by fund
Unrestricted funds 447,553 1,085,238
Restricted funds 292,724 131,897
740,277 1,217,135

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

10
Support costs
Support costs
Governance
costs
£
£
Staff costs
82,775
-
Depreciation
968
-
Office costs
29,912
-
Rent and rates
42,509
-
Printing, postage and
stationery
-
-
Travelling expenses
11,314
-
Sundry expenses
9
-
Bank charges
3,769
-
Subscriptions, donations and
grants
9,820
-
Audit fees
-
14,621
Trustees' insurance
-
11,917
181,076
26,538
Analysed between
Charitable activities
181,076
26,538		 2020
Support costs
Governance
costs
£
£
£
82,775
96,405
-
968
5,185
-
29,912
27,515
-
42,509
46,269
-
-
267
-
11,314
14,181
-
9
2,585
-
3,769
1,238
-
9,820
9,733
-
14,621
-
17,252
11,917
-
6,959
207,614
203,378
24,211
207,614
203,378
24,211		 2019
£
96,405
5,185
27,515
46,269
267
14,181
2,585
1,238
9,733
17,252
6,959
227,589
227,589

Governance costs includes payments to the auditors of £14,621 (2019: £17,252) for audit fees, comprising £10,000 (2019: £10,000) for the current year and £4,621 (2019: £7,252) in respect of prior years’ underprovision.

11 Trustees

No trustee received remuneration for their services as trustees during the year (2019: £nil).

No trustees were reimbursed expenses during the year (2019: £147).

  • 24 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

12 Employees

Number of employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2020
Number
18
2020
£
456,905
33,070
19,379
509,354		 2019
Number
18
2019
£
473,796
33,954
17,859
525,609

The senior management team described in the trustees' report received total remuneration of £160,081 (2019: £183,086).

The number of employees whose annual remuneration was £60,000 or more were:

£70,000-£79,999
13
Tangible fixed assets
Fixtures, fittings
& equipment
£
Cost
At 1 September 2019
20,951
Additions
-
At 31 August 2020
20,951
Depreciation and impairment
At 1 September 2019
19,529
Depreciation charged in the year
474
At 31 August 2020
20,003
Carrying amount
At 31 August 2020
948
At 31 August 2019
1,422		 2020
Number
1
Computer
software
£
530
3,030
3,560
30
494
524
3,036
500		 2019
Number
1
Total
£
21,481
3,030
24,511
19,559
968
20,527
3,984
1,922
  • 25 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

14
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2020
£
120,401
33,978
154,379		 2019
£
107,085
41,373
148,458

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2020
£
11,352
9,163
4,002
93,118
117,635		 2019
£
11,843
28,072
4,273
78,225
122,413

Total deferred income at the year end amounted to £60,615 (2019: £55,562). This amount represents income related to rabbinical secondments.

  • 26 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 September resources expended 1 September resources expended 31 August 2020
2018 2019
£ £ £ £ £ £ £
Big Lottery - - - - 50,000 (33,333)
16,667
Rabbinical Training 6,668 16,529 (17,150) 6,047 53,354 (26,200)
33,201
City Bridge Trust - - - - 23,067 (23,067)
-
Inclusion fund - - - - 35,485 (950)
34,535
Future Leaders fund - - - - 105,391 (100,391)
5,000
Camps - - - - 5,000 (5,000)
-
Kelim - - - - 2,500 (1,126)
1,374
Communications strategy - - - - 12,038 (12,038)
-
Jewish Innovation fund - - - - 5,000 - 5,000
Jewish Community Organising Course - - - - 9,000 (9,000)
-
Website - - - - 9,300 - 9,300
Film for Annual Dinner - 5,000 (5,000) - - - -
UJIA-Noam - 57,200 (57,200) - - - -
Noam/Marom General - 7,000 (7,000) - 56,597 (56,597)
-
Community Development and Support - 4,983 (4,983) - - - -
Our second home 2,757 14,113 (16,692) 198 39,744 (16,741)
23,201
Community Growth Toolkit - 6,000 (6,000) - - - -
Conservative Yeshiva 7,725 2,225 (2,000) 7,950 1,263 (1,281)
7,932
Jewish Learning - 2,500 (2,500) - 7,000 (7,000)
-
Other - 15,872 (15,872) - - - -
17,150 131,422 (134,397) 14,195 414,739 (292,724)
136,210
  • 27 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

16 Restricted funds

(Continued)

Restricted funds 2019/20

1) Big Lottery – Represents monies received to cover the costs of community and leadership development projects carried out for Masorti Judaism by Citizens UK. 2) Rabbinical Training – Represents funds received to go towards the cost of training Masorti Rabbis. 3) City Bridge Trust - Emergency Covid fund to support salaries. 4) Inclusion fund - Noam camp and activity bursaries. 5) Future Leaders fund - Community development and support and leadership courses. 6) Camps - Noam summer camps and Pre camp for camp leaders. 7) Kelim - Training for camp leaders and Kelim course in Israel. 8) Communications strategy - Masorti and Noam communications. 9) Jewish Innovation fund - Innovation programmes. 10) Jewish Community Organising Course - Fund towards Jewish Community Organising Course. 11) Website - Fund towards the development of new Masorti website. 12) Film for Annual Dinner – Represents funds received to go towards the production of a film for the Masorti Judaism Annual Dinner. 13) UJIA Noam – Represents funds for Noam operations and activities. The fund is showing no movement during the year as this was incorporated into Noam General. 14) Noam/ Marom General – Represents funds for Noam and Marom programmes for Youth and Young Adults. 15) Community Development and Support – Represents funds for community development and support. 16) Our Second Home – Represents funds for Our Second Home summer camp. 17) Community Growth Toolkit – Growth of our toolkit. 18) Conservative Yeshiva – Represents funds to send students to the Conservative Yeshiva in Jerusalem. 19) Jewish Learning - Income for Jewish Learning Programme.

20) Other - Other restricted programmes including Mental Health Initiative for young adults, a Talmud learning project, a programme for young adults and new communities (Ohel Moed and Havurah) and various programmes that are Israel related.

  • 28 -

Draft Financial Statements at 09 March 2021 at 19:08:11

MASORTI JUDAISM

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2020

17
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2020
2020
£
£
Fund balances at 31
August 2020 are
represented by:
Tangible assets
3,984
-
Current assets/(liabilities)
132,245
136,210
136,229
136,210		 Total
Unrestricted
funds
Restricted
funds
2020
2019
2019
£
£
£
3,984
1,922
-
268,455
92,920
14,195
272,439
94,842
14,195		 Total
2019
£
1,922
107,115
109,037

18 Operating lease commitments

At the reporting end date the Charity had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2020
£
34,035
60,191
94,226		 2019
£
33,660
92,480
126,140

19 Related party transactions

There were no related party transactions in the year.

20
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
(Decrease)/increase in creditors
Cash generated from/(absorbed by) operations
21
Analysis of changes in net funds
The Charity had no debt during the year.		 2020
£
163,402
(10)
968
(5,921)
(4,778)
153,661		 2019
£
(79,240)
(1)
5,185
(24,940)
43,283
(55,713)

29