OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← South Herts And Edgware Masorti

2023-12-29-accounts

REGISTERED COMPANY NUMBER: 06019045 (England and Wales) REGISTERED CHARITY NUMBER: 1117623

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SOUTH HERTS AND EDGWARE MASORTI

KBSP Partners LLP Chartered Accountants

Harben House Harben Parade Finchley Road LONDON NW3 6LH

SOUTH HERTS AND EDGWARE MASORTI CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16
Detailed Statement of Financial Activities 17 to 18

SOUTH HERTS AND EDGWARE MASORTI

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees, who are also the directors of the Charity for the purposes of the Companies Act, present their annual report and the financial statements for the year ended 31st December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the company’s Memorandum and Articles of Association, 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 Ireland (FRS 102) (effective 1 January 2019) and the Companies Act 2006.

This report also represents the directors’ report as required by S417 of the Companies Act 2006.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charitable Company's object and principal activity is to advance and promote the practice and teaching of traditional Judaism as understood and interpreted by the Masorti Movement. As such, the Charitable Company is a member of Masorti Judaism.

Public Benefit Statement

In accordance with Section 17 of the Charities Act 2011, the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to continue maintaining its principal objects of representing the Jewish community with particular focus on promoting and supporting Jewish religious activity in Edgware and the surrounding areas.

STRATEGIC REPORT Achievement and performance

Charitable activities

The Synagogue is a full member of Masorti Judaism and seek to meet the needs of the religious community predominantly in Edgware, Borehamwood, Elstree, Bushey and Mill Hill areas.

Page 1

SOUTH HERTS AND EDGWARE MASORTI

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRATEGIC REPORT

Financial review

The Trustees report on the financial performance (see the Statement of Financial Activities on page 6 together with the accompanying notes to the statement). The figures for 2023 represent fully merged information whilst comparatives reflect the Income and Expenditure of both Edgware Masorti and Elstree and Borehamwood Masorti synagogues. It shows a surplus of £16,267. Membership dropped significantly due to members anticipating our relocation to Borehamwood by 2-3 years and due to a lack of Rabbi.

There were no fee increases in 2023, The fees for legacy Elstree and Borehamwood Masorti members are being increased gradually so that by start of 2025 all are on one fee scale.

The membership figures for both communities are as follows:

2021 2022 2023
Members at start 502 497 496
Joined 11 16 15
Resigned/terminated (7) (13) (102)
Died (9) (4) (4)
Members at year end 497 496 405
Net movement (5) (1) (91)
Net movement% -1.00% -0.20% -18.3%

Investment policy

Under the Memorandum & Articles of Association, the charity has the power to make any investment which the Trustees see fit. Aside from retaining sufficient funds to meet the reserves policy, there are some funds for longer term investments. The Trustees have therefore decided to place the amounts available in interest bearing accounts with their bankers. The returns are considered acceptable bearing in mind current interest rate levels and practical alternatives.

Reserves policy

The reserves are set out in the Balance Sheet on page 7 and accompanying notes. The Trustees regularly review the level of cash reserves maintained. The present level of funds is sufficient to support the activities of the Synagogue which depends on the levels of membership and donations being maintained. The unrestricted reserves are held at current levels to maintain positive cash flow and to meet any contingencies requiring immediate expenditure. These are shown in note 12.

The accounts for the year are set out in the attached document. The Statement of Financial Activities is on page 6 shows a net surplus movement in the total funds of £10,817 (2022:deficit of £66,075) and our funds stand at £895,377 (2022: £884,560) in total. Funds for restricted purposes are held in separately designated funds are shown in note 12.

Future Developments

The Trustees have been focused on providing the community with spiritual support and communal activities. We have continued to hold services every Saturday morning, on the High Holydays and all major festivals in either Edgware, Borehamwood or both locations. For our spiritual needs, we have been assisted in this respect by other Rabbis in the Masorti movement and express our grateful thanks to them. We have also appointed a Community Development Manager who is working with families and children, educational programmes and community activities. We are now seeking a new Rabbi; we are currently working with a developer and the local authority in Hertsmere to provide a new building in Borehamwood for the merged community.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The South Herts and Edgware Masorti is a company limited by guarantee and a register charity (in England and Wales) governed by its Memorandum and Articles of Association.it is managed by a Council of Trustee/Directors who are appointed by its members by elections.

For the first two years (2022 and 2023) following merger, the structure of Council changed. Seven Trustees are elected each year by the Synagogue membership to the specific offices of Co-Chairs (two), Co-Treasurers (two), Hon Secretary and Warden (Two). These seven make up the Executive Committee of the Council and are empowered to make appropriate day to day management decisions. The Executive Committee meets monthly. Since May 2022 there has been one vacancy –Warden.

Page 2

SOUTH HERTS AND EDGWARE MASORTI

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Charity constitution

The Board meets at least eight times per year together and reports to its members at the Annual General Meeting on progress in relation to the objectives. Members are kept informed by weekly newsletters, regular emails and twice-yearly printed magazines.

Trustee/Director Appointment, Induction and Training

Trustees are appointed each year at the Annual General Meeting of the company and the first meeting of the Council is called shortly thereafter at which Trustees receive specific responsibilities and appropriate induction and training. Each trustee/role has agreed Terms of Reference. There are sub committees covering Services, Property Strategy, Finance and Events who report to the board.

There are four paid roles: the Rabbi, Community Development Manager, Administrator and Caretaker (part-time)

Trustees

The trustees who served during the year under review and still in office were:

David Grossman Co-Chair Steven Lux Co Chair Sarah Nathan Hon Secretary Daniel Davis Co Treasurer Stephen Fidler Warden Deborah Levy Co Treasurer (formerly Deborah Cohen) Lauren Cohen Oliver Davis Geoffrey Green Jenny Zetter The trustees who served during the year under review and no longer in office were Damon Lenszner Resigned 14th June 2024, Peter Lurie Resigned 19th June 2024

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and in the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

All the trustees give their time voluntarily and received no benefits from the charity.

Indemnity Insurance

The company has taken out third party indemnity insurance on behalf of its directors.

Risk management

The trustees have a duty to identify and review the risks to which the company is exposed and are satisfied that appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06019045 (England and Wales)

Registered Charity number

1117623

Registered office

Stream Lane Edgware HA8 7YA

Page 3

SOUTH HERTS AND EDGWARE MASORTI

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

Trustees

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and in the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

All the trustees give their time voluntarily and received no benefits from the charity.

Indemnity Insurance

The company has taken out third party indemnity insurance on behalf of its directors.

Company Secretary

S Nathan

Independent Examiner

KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:

................................................................. D B Grossman - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH HERTS AND EDGWARE MASORTI

Independent examiner's report to the trustees of South Herts and Edgware Masorti ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Anthony Cowan

KBSP Partners LLP Chartered Accountants Harben House Harben Parade Finchley Road LONDON NW3 6LH

Date: .............................................

Page 5

SOUTH HERTS AND EDGWARE MASORTI

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
201,962
Charitable activities
Raising donations and legacies
7,989
Other trading activities
2
12,097
Investment income
3
230
Total
222,278
EXPENDITURE ON
Raising funds
5,199
Charitable activities
Raising donations and legacies
44,575
Other trading activities
-
Other resources expended
105,173
Other
52,183
Total
207,130
NET INCOME/(EXPENDITURE)
15,148
Transfers between funds
11
10
Net movement in funds
15,158
RECONCILIATION OF FUNDS
Total funds brought forward
865,222
TOTAL FUNDS CARRIED FORWARD
880,380		 Restricted
funds
£
(2,806)
-
4,275
-
1,469
-
-
-
-
5,800
5,800
(4,331)
(10)
(4,341)
19,338
14,997		 2023
Total
funds
£
199,156
7,989
16,372
230
223,747
5,199
44,575
-
105,173
57,983
212,930
10,817
-
10,817
884,560
895,377		 2022
Total
funds
£
216,121
7,075
14,860
21
238,077
6,234
9,408
(3,798)
236,312
55,996
304,152
(66,075)
-
(66,075)
950,635
884,560

The notes form part of these financial statements

Page 6

SOUTH HERTS AND EDGWARE MASORTI

BALANCE SHEET

31 DECEMBER 2023

Notes
FIXED ASSETS
Tangible assets
7
Heritage assets
8
CURRENT ASSETS
Debtors
9
Cash at bank
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
848,104
9,360
857,464
21,788
19,059
40,847
(17,931)
22,916
880,380
880,380		 Restricted
funds
£
-
-
-
-
18,213
18,213
(3,216)
14,997
14,997
14,997		 2023
Total
funds
£
848,104
9,360
857,464
21,788
37,272
59,060
(21,147)
37,913
895,377
895,377
880,380
14,997
895,377		 2022
Total
funds
£
848,696
10,400
859,096
32,683
33,562
66,245
(40,781)
25,464
884,560
884,560
865,222
19,338
884,560

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 7

SOUTH HERTS AND EDGWARE MASORTI

BALANCE SHEET - continued 31 DECEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. D B Grossman - Trustee

............................................. S Lux - Trustee

The notes form part of these financial statements

Page 8

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

2. OTHER TRADING ACTIVITIES

Fundraising events
Kiddushim
Other income		 2023
£
1,325
1,315
13,732
16,372		 2022
£
4,620
885
9,355
14,860

continued...

Page 9

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

3. INVESTMENT INCOME

INVESTMENT INCOME
2023 2022
£ £
Bank interest receivable 230 21

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Depreciation - owned assets 592 1,612
Office equipment 11,024 16,430

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
210,884
Charitable activities
Raising donations and legacies
7,075
Other trading activities
14,860
Investment income
21
Total
232,840
EXPENDITURE ON
Raising funds
4,314
Charitable activities
Raising donations and legacies
9,408
Other trading activities
(3,798)
Other resources expended
236,312
Other
55,996
Total
302,232
NET INCOME/(EXPENDITURE)
(69,392)
RECONCILIATION OF FUNDS
Total funds brought forward
934,614		 Restricted
funds
£
5,237
-
-
-
5,237
1,920
-
-
-
-
1,920
3,317
16,021		 Total
funds
£
216,121
7,075
14,860
21
238,077
6,234
9,408
(3,798)
236,312
55,996
304,152
(66,075)
950,635

continued...

Page 10

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
TOTAL FUNDS CARRIED FORWARD
865,222
19,338
7.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
Computer
property
fittings
equipment
£
£
£
COST
At 1 January 2023 and 31 December 2023
847,340
55,241
17,378

DEPRECIATION
At 1 January 2023
-
54,862
16,401
Charge for year
-
379
213
At 31 December 2023
-
55,241
16,614
NET BOOK VALUE
At 31 December 2023
847,340
-
764

At 31 December 2022
847,340
379
977
8.
HERITAGE ASSETS
MARKET VALUE
At 1 January 2023 and 31 December 2023
PROVISIONS
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade debtors
10,430
Other debtors
7,205
Prepayments and accrued income
4,153
21,788		 Total
funds
£
884,560
Totals
£
919,959
71,263
592
71,855
848,104
848,696
Total
£
61,360
50,960
1,040
52,000
9,360
10,400
2022
£
18,198
3,483
11,002
32,683		 Total
funds
£
884,560

continued...

Page 11

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accrued expenses		 2023
£
6,315
2,163
5,093
7,576
21,147		 2022
£
11,866
5,277
9,333
14,305
40,781

11. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Library Fund
Scholarship fund
Benevolent Fund
Security Fund
Mercaz
CST Guard Funding
Netzach Israel
Ashkelon
Collick Fund
Jewish Geneological Society
2022 Kol Nidre Appeal - Jeremy's Circle
2022 Kol Nidre Appeal - Paperweight
TOTAL FUNDS		 At 1.1.23
£
865,222
1,377
1,458
10,088
725
43
410
167
460
85
10
2,336
2,179
19,338
884,560		 Net
movement
in funds
£
15,148
-
-
-
-

217
(33)
-
-
-
-
(2,336)
(2,179)
(4,331)
10,817		 Transfers
between
funds
£
10
-
-
-
-

-
-
-
-
-
(10)
-
-
(10)
-		 At
31.12.23
£
880,380
1,377
1,458
10,088
725
260
377
167
460
85
-
-
-
14,997
895,377

continued...

Page 12

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Mercaz
CST Guard Funding
2022 Kol Nidre Appeal - Jeremy's Circle
2022 Kol Nidre Appeal - Paperweight
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Library Fund
Scholarship fund
Benevolent Fund
Security Fund
Mercaz
CST Guard Funding
2018 Kol Nidre - MDA
2019 Kol Nidre - Hatzola
Netzach Israel
Ashkelon
Collick Fund
Jewish Geneological Society
2021 Kol Nidre - JOY
2022 Kol Nidre Appeal - Jeremy's Circle
2022 Kol Nidre Appeal - Paperweight
TOTAL FUNDS		 Incoming
resources
£
222,278
217
5,767
(2,336)
(2,179)
1,469
223,747
At 1.1.22
£
934,614
1,377
1,458
10,088
451

5
-
50
50
167
460
85
10
1,820
-
-
16,021
950,635		 Resources
expended
£
(207,130)
-
(5,800)
-
-
(5,800)
(212,930)
Net
movement
in funds
£
(69,392)
-
-
-
274

38
410
(50)
(50)
-
-
-
-
(1,820)
2,336
2,179
3,317
(66,075)		 Movement
in funds
£
15,148
217
(33)
(2,336)
(2,179)
(4,331)
10,817
At
31.12.22
£
865,222
1,377
1,458
10,088
725
43
410
-
-
167
460
85
10
-
2,336
2,179
19,338
884,560

continued...

Page 13

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Security Fund

Mercaz
CST Guard Funding
2018 Kol Nidre - MDA
2019 Kol Nidre - Hatzola
2021 Kol Nidre - JOY
2022 Kol Nidre Appeal - Jeremy's Circle
2022 Kol Nidre Appeal - Paperweight
TOTAL FUNDS		 Incoming
resources
£
232,840
274
38
410
-
-
-
2,336
2,179
5,237
238,077		 Resources
Movement
expended
in funds
£
£
(302,232)
(69,392)
- 274
-
38
-
410
(50)
(50)
(50)
(50)
(1,820)
(1,820)
-
2,336
-
2,179
(1,920)
3,317
(304,152)
(66,075)

continued...

Page 14

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Library Fund
Scholarship fund
Benevolent Fund
Security Fund
Mercaz
CST Guard Funding
2018 Kol Nidre - MDA
2019 Kol Nidre - Hatzola
Netzach Israel
Ashkelon
Collick Fund
Jewish Geneological Society
2021 Kol Nidre - JOY
TOTAL FUNDS		 At 1.1.22
£
934,614
1,377
1,458
10,088
451
5
-
50
50
167
460
85
10
1,820
16,021
950,635		 Net
movement
in funds
£
(54,244)
-
-
-
274
255
377
(50)
(50)
-
-
-
-
(1,820)
(1,014)
(55,258)		 Transfers
between
funds
£
10
-
-
-
-
-
-
-
-
-
-
-
(10)
-
(10)
-		 At
31.12.23
£
880,380
1,377
1,458
10,088
725
260
377
-
-
167
460
85
-
-
14,997
895,377

continued...

Page 15

SOUTH HERTS AND EDGWARE MASORTI

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Security Fund
Mercaz
CST Guard Funding
2018 Kol Nidre - MDA
2019 Kol Nidre - Hatzola
2021 Kol Nidre - JOY
TOTAL FUNDS		 Incoming
resources
£
455,118
274
255
6,177
-
-
-
6,706
461,824		 Resources
Movement
expended
in funds
£
£
(509,362)
(54,244)
-
274
-
255
(5,800)
377
(50)
(50)
(50)
(50)
(1,820)
(1,820)
(7,720)
(1,014)
(517,082)
(55,258)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 16

SOUTH HERTS AND EDGWARE MASORTI

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

2023
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
INCOME AND ENDOWMENTS
Donations and legacies
Subscriptions
166,567
(3,216)
163,351
Donations
3,005
-
3,005
Gift aid
32,390
410
32,800
201,962
(2,806)
199,156
Other trading activities
Fundraising events
1,325
-
1,325
Kiddushim
1,315
-
1,315
Other income
9,457
4,275
13,732
12,097
4,275
16,372
Investment income
Bank interest receivable
230
-
230
Charitable activities
Synagogue magazine
5,756
-
5,756
Board of Deputies Contribution
2,233
-
2,233
7,989
-
7,989
Total incoming resources
222,278
1,469
223,747
EXPENDITURE
Fund raising costs
Synagogue magazine
2,197
-
2,197
Kiddushim
2,145
-
2,145
Cost of fund raising activity
362
-
362
Representation fees
495
-
495
5,199
-
5,199
Charitable activities
Salaries and other Staff costs (excluding cleaners)
84,525
-
84,525
Office expenses
11,024
-
11,024
Burial society fees
733
-
733
MJ subscription
32,551
-
32,551
Religious events
12,486
-
12,486
Bad debts
4,656
-
4,656
Board of deputies contribution
2,733
-
2,733
Depreciation of tangible fixed assets
1,040
-
1,040
149,748
-
149,748
Support costs
Management
Sundries
525
-
525		 2022
Total
funds
£
186,815
7,269
22,037
216,121
4,620
885
9,355
14,860
21
5,420
1,655
7,075
238,077
2,070
1,990
2,133
41
6,234
140,850
16,430
26,374
23,853
18,053
13,413
1,794
1,155
241,922
-

This page does not form part of the statutory financial statements

Page 17

SOUTH HERTS AND EDGWARE MASORTI

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
£
£
Management
Other
Insurance
7,702
-
Repairs and maintenance
4,133
-
Cleaning expenses
12,557
-
Advertising
25
-
Alarm & security costs
4,534
5,800
Synagogue utility costs
12,061
-
Depreciation of Fixtures and fittings
379
-
Depreciation of Computer equipment
213
-
Bank and transaction charges
1,130
-
42,734
5,800
Governance costs
Accountancy fees
4,560
-
Legal fees
4,364
-
8,924
-
Total resources expended
207,130
5,800

Net (expenditure)/income
15,148
**(4,331) **		 2023
Total
funds
£
7,702
4,133
12,557
25
10,334
12,061
379
213
1,130
48,534
4,560
4,364
8,924
212,930
10,817		 2022
Total
funds
£
8,677
11,058
7,143
-
9,636
7,950
885
727
543
46,619
4,300
5,077
9,377
304,152
(66,075)

This page does not form part of the statutory financial statements

Page 18