Manchester Refonn Congregation Annual Report and Audited Financial Ststements for the financial year ended 31 December 2024 Charlty Number: 1118957
Manchester Reform Congregation CONTENTS Pag• Trustees, and Other Infomiation Trustees. Report Statement of Trustees. Responsibilities Independent Auditorfs Report 8-10 ststement of Financial Activities 11 Balance Sheet 12 Statement of Cash Flows 13 Notes to the Financial Statements 14-21
Manchester Reform Congregation TRUSTEES. AND OTHER INFORMATION Trustees: During and slgnlng of Accounts Chairperson Daniel Franks President Harokl WeInStk.. Treasurer and Custodian Eric Langef ts Treasurer Elliot Cohen Irene Gould Peter Rapaport (Appointed 18 April 20241 Mrs Anne Weinstock (Appointed 3 June 20251 David Lewis IApp)inled 3 June 2025) Janet Langer Darren Vaile Franane Morris (Resbgned 14 May 20241 Jad( Morris (Resigned 6 April 2025) Joyce Walker Ck(Klrnan (Resigned 31 October 20241 Leona val (Resigned 6 April 20251 Pamela Walker (Appointed 18 April 2024, Resigned 1 October 20241 Martin Nelson (Resigned 9 June 2025) Mark Levy (Resigned 21 June 20241 David Leighton Daniel Savage-CustThJian Louis Rapaport £ustodian Mark Levy -Cust(MJian (Resigned 21 June 2024) Charity Nurnber in England and Wales 1118957 Prlnclpal Address Spaces 125 Deansgate Manchester M3 2BY United lQn9Jom Auditor5 Montsgue Kaye Chartered Certtfied Acc£>untants and Registered Auditor5 82 Reddish Road Reddish Stockport SK5 7QU GB Prlncipal Bankers Barclays 1 Yorkshire Street Rochdale 016 1BJ
Manchester Refomi Congregation TRUSTEES. REPORT for the financial year ended 31 December 2024 The trustees presenl their Trustees, Report and Ihe audited financial stakments for the financial year ended 31 December 2024. The financial ststements are prepared in xcordan¢e wtth the Chaiities Act 2011. FRS 102 The Financial Reportrng Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Chaiities.. Statement of Recommended Practice applble lo charilies prepariThJ their finanaal statements in aCrdan the Financial Rewrting Stsndard applicab in the UK and Republic of Ireland IFRS 1021. The TTUStees' Report contains the Informat required to be provided in the Trustees. Annual Report under the statement of Recommended Practice (SORP) guidelines. The trustees of the chanty are also charity trustees for the purpose of charity Lqw and under charilys (xjnstitution are known as members of the board of trustees. In this report the trustees of Manchester Reforn CongregatK)n present a summary of its purpose, govemance, actNities, achievements afKI finan for the financial year 31 December 2024. The Charity is a regtstered charity although not oblMJed to compty with the Statement of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organiSat has implemented its recommendations where relevant in these financial statements. Principal Actlvlty Manchester Refomi synagog was eSlablhed in 1856 to maintain a Synagogue for worship in accordance with the doctrines of the Jewish relvan as practiced in this CongregatM)n. and to prDmote religuS. charitable. and educational acb'viti'es. Mlsslon, Objectives and Strategy Misslon Statement Manchester Reform Congregation was established in 1856 to maintsin a Synagogue for worship in accordance with the doctrines of the Jesh religion as practr.ced in this Congregation. and lo promote relKJious. Charitable and educational activities. To achieve these objective$. the Synagogue has the followry strategies: The emph)yment of Rabbis Holding servws on the Sabbath and all religious Hoty Days Holding servus to celebrate religious fesliva Educakn'onal and religious acliwlies to encourage friendships and promote a JeWh experience. Oblècthi•$ The Trustees have given due regard to publ benefft guidance published by the Charity Commission. The Trustees have eslablished appropriate organisational structures and risk marwgement pnxesses to ensure objectives are met effeclivety- Structure, Govemance and Manayment Structure Legal stnJctsJre of the Charity The charity's governing documenl is the (nstitUtiOn adopted 9 December 1971. 29 May 2019. 21 November 2021 and April 2024. Management of the charity is dewted under the Constitution lo the Executive who report to the Counul w)Se actions have ultimate re5p)n5ibility unless subject to rules referring to the membership of the sagOgUe. The trustees are all individuals. Recruitrnent, induction arKI training New trustees are elecled at the AGM or by the ExecutNe and Council rf vacancies occur and then approved al the Annual General Meeting. As new trustees are members of the sYna9ue no general program of irK1uclion is used. However. policies and procedures are explained at Council meetings. Governance Organisation structu An elected Executive and Councal administer the SyTraGwue. The executives aThJ counal ffet monthly. The SynagKKJue empbyees manag8 the day-tcpday administration akjngside the Rabbi Is) and rewrt to the Executive and Counal. Payments from bank accounts are nomal subject to twwerson authorisation with certain exceptions re smaller
Manchester Reform Congregation TRUSTEES, REPORT for the financial year ended 31 December 2024 amounts or debil card payments, all payments are duly aulhorised and supported by third party documentation. Rabbi Lisa Barrett and Rabbi Warren EW have supplied services on a self-employed basis. Rabbi Lisa Barrett ceased to take services after the end of ju 2024 bul continued lo provide other services such as funerals and the Access class until 30 September 2024. We are grateful to Rabbi Elf for his continuing supwrt and to Rabbi Bort (for High Hoty Day SeIceS) In addition we are also grateful for the student Rabbi's who have taken our services during the year. The executive and council are gratefvl for the support of our office staff Manty Bemhardt (Secretary) and Isabel Arkwright (Accounts) and since October 2024 Pam Walker as Office Manager Review of Activities, Achievements and Perfomiance 2024 was another challenging year for the Synagogue. We remained at Elliot House in the City Centre until mid-Augusl 2025. sub4etting from the Manchester Chamber of Commerce. However. when the Chamber went into administration. we were forced to vacate those premises. Daniel Franks has continued as our President and has with our council and executive had to deal with some various challenges during the year. Despite these challenges we continue to have weekty Shabbal services. Attendances varies from around 60 people lo as few as 20 bul the atmosphere is amazingty wann and uplifting. We continue to have Friday evening serves on zoom and at V8riOUS times Erev Shabbat seNices at members homes. Our High Holy Day services in 2024 were not as well attended as in 2023. however our other services as well as Tu Bishv81 and our second night Pesach seder were both well attended and filw wlh joy. Unfortunalety. over the last efve months. we have seen a further decline in membership. partly due to our sister comrnunilies signing up to JJBS which allowed rneMbe to transfer their burial subscriptions. Despite this decline, we have welcomed new members, some foll(Iwing their convetsion and others drawn by the wamith of our weekly services and want to be a part of community. Financial Review The results for the financial year are set out on pages 11-21 including addibonal notes Showing income and expenditure in greater detail. During 2024. the Synagogue had surplus funds of £621,039, compared to £15.114.791 in 2023. The trustees considered the financial resources for the year under review and fou1 them to be their satisfaction. The surplus was mainly due to the investrnenl incorne received. The financial posith)n of the Charity at 31 December 2024 and comparatives are more fully detsiled in the account5. Income Investment policy The Trustees. investment powers are govemed by rts constitun which permits the funds available to be invested in a wide range of securities and assets. The Trustees investment policy is to aim for safety. cx)mmensurate wtth immediate and planned spendirrfJ requirements mainly under the guidance of our professional advisors. Results and Dividends At the end of the financial year the charity has assets of £16.246.93512023 - £15,655.090) and liabilities of £82,856 {2023 - £112.0501. The net assets of the charity have increased by £621.039. ReseThes Position and Policy Reserves and funding The charity had net current assets on 31 December 2024 of £ 16,164,079 and is therefore sufficiently able lo continue in operation and meet its debts as they fall due. The truslee5 continue to monitor the position on a regular basis. The truslees believe that the Charity holds sufficienl reseNes to ensure that it can continue lo operale and meet the needs of members in the event of unforeseen arKI potentially damagiNJ financial ¢ir¢umslances. Prlncipal Risks and Uncertainties Risk management All major risks lo which the Synagogue is exposed are dealt with at regular Council and Executtve meetings, and where appropriate. controls a e51ablished.
Manchester Reform Congregation TRUSTEES. REPORT for the financial year ended 31 December 2024 The key priorities are as follows.. Plans for future periods. Rabbi Appointment The executive and council consider the appointment of a Rabbi lo be essential, and a subrycommittee is actively invofved in this process. Charitable Incorporation Organisation ICIOI We sel up a CIO, to provide an incorporation struclure with limited liability- This would replace our current outdated structure and provide a framework for the fvlure. 11 is intended to obtsin the approval of the Synagogue membership to transfer the operations and assets of the Synagogue lo the CIO Future of the Synagogue Although the Synagogue's finances are strong and its community life remains vibrant. discussions are ongoiThJ garding the future location of our Synagogue. New Building A small team led by Elliott Cohen have been tasked to find a new building in the city Centre. We have identrfied a couple of potential buildings, one of which May be suitable not only as a place for worship but also as a community hub for our ngregatIOn and the wider communty. Merger discussion with Sha'8rei Shalom The Synagogue continues to have discussions with Sha'arei Shak)m on the pos$lbillty of a merger. In accordance with Constitution, the truslees retire by rotstion and being eligibk8, offer themselves for relection. Compliance with Sector-wide Legislation and Standards The charity engages proaclivety with legislation. standards and codes which are developed for the sector. Manchester ReforTn Congregation subscribes to and is compliant with the folbwing.. The Charities SORP IFRS 102) Approved by Ihe Board of Trustees on 28 October 2025 and signed on ils behalf by: Daniel Franks Chalrperson Erlc Langer Trustee
Manchester Reform Congregation STATEMENT OF TRUSTEES. RESPONSIBILITIES fof the finanoal year ended 31 Decembei 2024 Thé trustees are responsible for preparing the financial ststements in accordance with applicable law and regulations. The law applicable to charities in Eroland and Wales requires the trustees to Prepa financial statements for each financial year which give a true and fair view of the assets. Ihgbilili8s and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherww compty with the Charitr'es Acl 2011. In preparing these financial statements, the trustees a required to: select suitsbk accounting policies and appty them consistentty: make judgements and accounts'ng estimates that a 8$Onable and prudent: stste whether the finan¢ial slalements have been prepared in aCCordare with applicable accounting standards, identify those stsndards. and note the effect and the reasons for any material departure from those standards,. and prepare the financial 5ts1ements on the going con¢em basis unless il is inappropriate to presume that the charity will conlinue in operation. The trustees conffim that Ihey have complied with the above requirements in preparing the financial statements. The trustees are responsible for keepiThJ adequate a(xounting [8rdS that are sufficient to show and explain the charity's transactions and disclose with reasonab18 accuracy at any time the financial position of Ihe charity and enable them to ensure that the financial statements Compty with the Charities Ad 2011. 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. Approvod the Board of Tru$t••s on 28 Oclobor 2025 and slgmd on Its behalf by: Danlel Franks Chalrp•rson Erl¢ L•ng•r Trustse
INDEPENDENT AUDITOR'S REPORT to the Members of Manchester Reform Congregation Report on the ¥udlt of the financlal statements Opinion We have audited Ihe charity financial ststements of Mar¢chesler Refom Congregation I'lhe charity'l for the financial year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including the summary of significant accounting policies set out in note 2. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to Chafities preparing their accounts in accordance with FRS 102. In our opinion, when reporting in accordance with a fair presentation framewor1(, the financial statements- give a true and fair view of the stale of the charity$ affairs as at 31 December 2024 and of its 5urplu5 for the rinancial year then ended., have been propety prepared in accordance with United Kingdom Generally Ac(£pted Accounting Practice. and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with Inlemalional Standards on Auditing (UK) {ISAs (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial slalements section of our report. We are independenl of charity in accordance with 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 sufficienl and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing Ihe financial statements, we have concluded that the Irustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfornied. we have not identified any material uncertainties relating lo events or conditions that, individualty or collectively. may cast significant doubt on the charty's ability to continue as a going concem for a perM)d of al least months from the date when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Ifustees with respect to going concem are described in the relevant sections of this report. Other Infomiatlon The other infomiation comprises the infomiation included in the annual port other than the financial slalemenls and our Audilorfs Report thereon. The trustees are responsible for the other infonnalion contained within the annual report. Our opinion on the financial statements does not cover the other infomiation and. except lo the extent otherwise expliatty staled in our report, we do not express any form of assuranc8 conclusion ther80n. Our responsibility is lo read the other informalion and, in doing so, consider whether the other infornalion is materially inconsistent with the financial slalemenls or our knowledge obtsined in the course of the audit, or otherwise appeaf5 to be materially misslaled. If we identify such material inconsistencies or apparent material misslalements, we are required to detemiine whether this gives rise to a material misstatement in the financial slalements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. Opinion on other matter prescrlbed by the Companle$ Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the InfOatIOn given in the Trustees, Report for the financial year for which the financial statements are prepared is consislenl with the financial statements,. and the Twslees, Report has been prepared in accordance with applicable legal requirements. Matters on whl¢h we are requlred to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misststements in the Trustees, Report. We have nothing to report in respect of the folkjwing matters where the Charities Act 2011 requires us to report to you if, in our opinion.. adequate accounting records have not been kept., or the financial stslements a not in agreement with the accounting records and retums- or certain disclosures of trustees, remuneration specified by law are not made., or the Iruslees were not entitled to prepare the financial ststements in accordance with the small companies regime and lake advantsge of the small companies, exemption in preparing the Trustees, Annual Report.
INDEPENDENT AUDITOR'S REPORT to the Members of Manchester Reform Congregation R•sponslbllSties of trusts•s for tho flnanclal statements As explained more fully in the Statement of Truslees. Responsibilities set out on page 7. the Iruslees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal control as they 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 lo continue as a going concern, disdosing. as applicable, matters related lo going ¢on¢em and using the going concem basis of accounting unless management either intends to liquidate the charity or to cease operations, or has no realistsc altemative but lo do so. Audllovs responslbllltles for the audlt 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 du8 lo fraud or error, and to issue an Audilorfs ReFrt that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will aayS detect a material misstatement when it exists. Misslalemenls 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 user5 taken on Ihe basis of these financial ststements. Irregularities, including fraud, are instances of non-compliance with Saws and regu18tions. We design procedures in line with our resFonsibilities, outlined above, lo detect material misslalements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularilies, including fraud. is detailed below.. Furthgr Informatlon rogarding the scope of our responsibilities as auditor As part of an audil in accordance with ISAS (UKI, we exercise professional judgement and maintsin professional scepticism throughout the audit. We also.. Identify and assess the risks of material misslalemenl of the financial slalemenls. whether due to traud or error. design and perforni audit procedures responsive to those risks. and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulling from error, as fraud may invotve collusion, forgery, intentional omissions, misrepresentations. or the override of intemal control. Obtain an understanding of intemal control relevant to the audit in order lo design audit procedu$ Ihal are appropriate in the circumstances, bul not for the purpose of expressing an opinion on the effectiveness of the charitls inlemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by tnjslees. Conclude on the appropriateness of the trustees, use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists lated lo events or conditions that may cast significant doubt on the charity's ability lo continue as a going concem. If we conclude that a malerial uncertainty exists. we are required to draw attention in our Audilorfs Report lo the related disclosures in the financial stalemenls or, if such disclosures are inadequate. to mo(Jify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of our Auditoffs Report. However, future events or conditions may cause the charity lo cease lo continue as a going concern. Evaluate the overall presentation. structure and content of the financial statements, induding the disclosures, and whether the financial statements represent the underfying Iransacttons and events in a manner that achieves fair presentation.
INDEPENDENT AUDITOR'S REPORT to the Members of Manchester Reforni Congregation We comrnunicale with those tharged with govemance garding. among other matters. the planned scope and liming of the audit and significant audit findlngs, including any significant deficiencies in intemal control that we identify during our audit. The purpose of our audlt work and lo whom we owe our r•sponslbllltles This report is made solely to the Charity's members, as a body, in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charivs members those matters we are required to stsle lo them in an auditorfs report and for no other purpose. To the fullest exlenl pemiitted by law, we do not attepl or assume responsibility lo anyone other than the charity and the charlvs members as a body. for our audit work, for this report. or for the opinions we have fomed. MONTAGUE KAYE Chartered Certified Accountants and Registered Auditors 82 Reddish Road Reddish Stockport SK5 7QU GB 30 Octobof 2025 10
Manchester Reform Congregation STATEMENT OF FINANCIAL ACTIVITIES
for the financial year ended 31 December 2024
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | Funds | ||
| 2024 | 2024 | 2024 | 2023 | 2023 | 2023 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income | |||||||
| Donations and legacies | 3.1 | 160,372 | 1,972 | 162,344 | 177,130 | 1,867 | 178,997 |
| Charitable activities | 3.2 | 94,288 | - | 94,288 | 62,064 | - | 62,064 |
| Other trading activities | 3.3 | - | - | - | 30,000 | - | 30,000 |
| Investments | 3.4 | 744,699 | - | 744,699 | 267,797 | - | 267,797 |
| Other income | 3.5 | - | - | - | 14,987,945 | - | 14,987,945 |
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Total income | 999,359 | 1,972 | 1,001,331 | 15,524,936 | 1,867 | 15,526,803 | |
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||||
| Charitable activities | 4.1 | 375,584 | 4,708 | 380,292 | 407,452 | 4,560 | 412,012 |
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Net income/expenditure) | 623,775 | (2,736) | 621,039 | 15,117,484 | (2,693) | 15,114,791 | |
| Transfers between funds | - | - | - | - | - | - | |
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds for | 623,775 | (2,736) | 621,039 | 15,117,484 | (2,693) | 15,114,791 | |
| the financial year | |||||||
| Reconciliation of funds: | |||||||
| Total funds beginning of the | **14 ** | 15,464,499 | 78,541 | 15,543,040 | 347,015 | 81,234 | 428,249 |
| year | |||||||
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Total funds at the end of | 16,088,274 | 75,805 | 16,164,079 | 15,464,499 | 78,541 | 15,543,040 | |
| the year | |||||||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | ═══════ |
The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.
The notes on pages 14 to 21 form part of the financial statements
11
Manchester Reform Congregation BALANCE SHEET as at 31 December 2024 2024 2023 Noles Flxed Assats Investments 8,703,593 37,0(K) Curront As80ts Slocks Debtors Cash al bank and In hand 67,620 337.951 7,137.771 68.982 146,948 15,402.160 10 11 7,543,342 15.618,090 Crodltors: Amounts falllng due wlthln on• y•ar 12 {82,856} 1112,050) Net Current As•ets 7,460,486 15,506,040 Total Ass8ts1o•$ Curront Llabllltlos 16.164,079 15,543,040 Fundi Reslrict8d trust funds Designated funds Iunrestrtcted) General fund lunrestrictedl 75,805 114,481 15,973,793 78,541 114,481 1 5.350,018 Totsl fund• 14 16,164,079 15,543,040 Approvo by the Board of Tru•to•• and authorlsed for18su¢ on 28 October 2025 and slgn•d on It• b•h•ll by Danlol Franks Chalrpernon Erlc Langar Tru•te• Thè not8s on pages 14 10 21 lorn part of the finanaal statements 12
Manchester Reform Congregation STATEMENT OF CASH FLOWS for the financial year ended 31 December 2024 2024 2023 Notes Cash flows from operatlng a¢tlvltles Nel movement in fvnds Adjustments for= Interest receivable and simiL8r incom6 473.927 15,114,791 1597,5871 (267.7971 1123,660} 14,846,994 Movements in working ¢apilal'. Movement in stocks Movement in debtors Movement in creditors 1,362 (191,003) (29,194) {102.4301 36,808 Cash (used Inygenerated from operations {342,495) 14.781,372 Cash flows from Inv•$tlng actlvltles Interest received Dividends recesved Payments lo acquire investmenlslinc year end revaluation) Receipts from disposal of tangible assets 597,587 147,112 (8,666,593) 267,797 17,977 Net cash (used invgeneratad from investment activities (7,921,894) 285,774 Ngt Id?creaso)Ilncrea8e In ¢a8h and ¢•sh equlvalents Ca•h and cash •qulvalents at the beglnnlng of the year (8,264,389) 15,402,160 15.067,146 335.014 C•sh •nd ¢••h •qulvalent• at the and of the year 11 7,137,771 15,402.160 13
Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for the finanal year ended 31 Decemb8r 2024 GENERAL INFORMATION Manchester Refom COnggatIon is a charity incorporated in the United Kingdom. The registered offi¢e of the charity is Spaces. 125 Deansgale, Manchester, M3 2BY, United Kingdom which is also the principal place of business of the charity. The ffinancial statements have been presented in Pound 1£). which is also the functional currency of the Charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consist8ntty in dealing with items which ar6 consldered material in relation to the charity's financial stslements. Ba¥ls of preparatlon The financial stal8ments have bèèn pr8par8d under the historical ¢osl convention, modified to include certain items al fair value. The financial slalemenls have been prepared in accordance with the Slatemenl ol Recommended Practice ISORPI 'Accounling and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102.. As permltted by the Companies Act 2006. charlty has varied the standard fomats In that act for the Stslemenl of Financial Activities and the Balance Sheel. Departures from the standard fomials ar8 lo comply wiltt the requirements of the Chariti8s SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. The Charity is public benefit entity. Slalemenl of cornpllan¢e The financial statements of the charity for the fin8nci81 y88r ended 31 December 2024 have b6&n prepar8d on the going concern basis and in accordance with the Stslement of Recommended Practice {SORPI 'Accounling and Reports'ng by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102.. Fund ac¢ountlng The following are the categories of funds maintained.. R•8trl¢t•d lund• Reslricled funds represent Income received which can onty be used for particular purposes, as specified by th8 donors. Such purposes are within the overall objectives of the charity. Unr¢8trl¢tsd fund• Unrestricted funds cons591 ol General and Deslgnated funds. Gen8ral funds represent amounts whlch ar& expendab al Ihe dlscretlon of th8 board, In furtherance of the objectives of the charity. Designated fundg comprise unrestn'cléd funds that the board has, at its discretion, set aside for p8cUlar purposes. These designalions have an administrative purpose only, and do not legally reslricl the board's discretion to apply the fund. Incom• Income is recognised by in¢luslon In the Statement of Flnanclal AclivltSes onty when the chadty is legally entitled lo the income, performance conditions attached lo the itemls) of income have been met, the amounts involved can be measured vhth sufficient reliability and il is probable that the income wlll be receSved by the charity. Donations and legacle8 Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receNable. Grants where enlillement is not conditional on the delivery of a specific performance by the charity are recognised when the charity becornes unconditlonally entitled lo the grant. Income lax recoverab in relation lo donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Membership subscriptions are treated as donations and a accounted for when receivable. A provision is recognised if. after initial )gnItion of the income. il becomes unlikely that the charity will receive the money. Legacies are included when the charity is advised by th8 personal representative ol an estate that payment will be made or property transferred, and the amount involved can be quantified. Gifts donated for resale are included as incoming resources within actNities for generating funds when they are sold. 14
continued Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 Incom• from charltsbl8 actlvltles Income from charitable activities includes income earned from the suppty of seNices under contractual arrangamanls and from performance4elaled grants which have conditions Ihat specify the provision of particular services to be provided by the charity. Income from govemment and other co-funders is recognised when the charity is legally entitled lo the income because il is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, ils recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors. Grants from governménts and other co-fund8rs typically include one of the folhjwing typ6s of conditions.. PerfoThanc8 based conditions.. whareby the charity is contractually enlilled to funding only to the exlenl that the core objectives of the grant agreement are achieved. Where the charity is meeting the core objectives of a grant agreement, il recognises the rela18d 8xpendilur8, to Ihe extent that it is reimbursable by the donor, as Income. .Time based condilion5.' wheffjby the charity is conlraclually entilied lo funding on the condition that il is utilised in a particular period. In these cases the charity recognises the income lo the exlenl it is ulillsed within the period specified in the agreement. In the absence of such conditions, assumlng that receipt is probable and the amount can be reliably measured. grant income is recognised once the charity is notified of enlitlemenl. Grants recelved towards capital expendilure are credited to the Statement of Financial Activities when received or r8c8ivable, whichever is earlier. Donatod saNlca• or faclllllo8 Gifts donated for resale are included as incoming resources within activities for generating funds when they are sobj. Inv•8tmenti Incom8 from inv8slments is r8cognised whèn It b&com&s r&c&lvabl8. Exp•ndltur• Expenditure is analysed betsveen costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed and analysed according lo their major components. Expendtture is recognisèd when a 18gal or conslruclivè obligation 6xists as a result of a pasl event, a transfer of economic benefits is required in settlement, and the amount of the obligation can be 11abfy measured. Support costs are those functions Ihal assist the work of the charity but cannot be attributed to one activity. Such o)sts are allocated to aclivities in proportion lo staff time spent or other suitable measure for each activity. Investments Investments held as fix8d assets are stated at cost less provision for any p8rmanant diminution in value. Incom8 from other financial fixed asset investments together with any related tax credit is recognised in the profit and loss account in the financial year in which il is receivable. Inventorles Inventories are ststed al the lower cost and net realisable value, after making due allowance for obsolete and slow moving items. Cosl includes all costs incurred in the normal course of business in bringing them lo thèir present location and condition. Inventories comprise fundraising materials. It is not considered praclicable lo value inventories of unsold donated goods at the financial year end. Debtors Deblors are recognised al the settlement amount due after any discount offered. Prepayments a valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from government agenci8s and other co-funders. bul not yel received at financial year end, is included in debtor5. Cash at bank and In hond Cash al bank and in hand comprises cash on dep)srt at banks requlring bss Ihan the months notice 01 withdrawal. Taxation and deferred taxation No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. 15
continued Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for the financial year eIed 31 December 2024 INCOME DONATIONS AND LEGACIES Unrestrlcted Restrf¢tod Fund¥ Funds 2024 2023 Donations and Gtfts meMbehIp Fees Legacies Receivable Income tax recovered 5.149 130.225 3,000 21,998 1,972 7,121 130.225 3.000 21,998 5,467 148,173 25,357 160,372 1,972 162,344 178,997 CHARITABLE ACTNITIES Unr•8lrfct•d Rostrlcted Fund8 Funds 2024 2023 Charltablo Actlvltlos: Income from charttable acllvilies Book Sales Events Funeral receipts 3.093 290 1,685 89,220 3,093 290 1.685 89.220 3,601 1,050 57,413 94.288 94,288 62,064 OTHER TRADING ACTIVITIES Unrnstrl¢ted R••trl¢t•d Funds Fund$ 2024 2023 Car Park Rental 30,000 INVESTMENTS Unrestricted R¢8trl¢ted Funds Funds 2024 2023 Investments 744,699 744,699 267,797 OTHER INCOME Unr•strlct•d R•strlet•d Funds Funds 2024 2023 Nel gain on disposal of tangible assts 14.987,945 The figure of dividend income comprises dividend income of £23.921 and revaluation of investments al the yearend of £123.191. EXPENDrruRE 16
continued Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 CHARITABLE ACTIVITIES Dlrect Costs Other Costs Support Costs 2024 2023 Expenditure on charitabl& activiles Staff Costs Premises Communications and IT Finance Costs Governance Costs General Offic8 Book Costs Reform Judaism Affiliation F88 Funeral costs 10.264 99,719 91,049 3,119 28,393 6,919 34,054 5,880 24.525 76.370 10.264 99.719 91.049 3.119 28.393 6,919 34.054 5,880 24,525 76,370 4,560 159,542 106,326 4.904 2,919 36,431 20,101 24.385 52,844 380,292 380,292 412.012 NET INCOME 2024 2023 Net Income Is statsd after charylnglcrodltlngl: Audilorfs remuner81ion'. audit services 6,000 7,440 INVESTMENT AND OTHER INCOME 2024 2023 Rent receivable - other income Bank interest Investment income 30,000 267,797 597.587 147,112 744,699 297,797 17
Lx>ntinued Manchester Refomi Congregation NOTES TO THE FINANCIAL STATEMENTS for the financial year eIed 31 December 2024 EMPLOYEES AND REMUNERATION Number of employees Wages and salaries include the cost of seff4mployed Rabbi's and Student Rabbi's The average number of pers(Ms employed {induding executive truslees) durirrfj the financial year was as folknws: 2024 Number 2023 Number Offi( Rabbi The stsff costs mPle.. 2024 2023 Wages and salaries Social security costs Pension costs 99,719 144,081 3,839 11,622 4,103 103,822 159,542 Emptyee beneffts The cost of any unused holiday enlitlement is recogntsed in the period in which the employee's seThices are. ceNed. Temiination benefits are recognised immediately as an exInse when the charity is detTr)nstrdbty commrtted to terninate the empknyment of an employee or to provhle tem)ination benefits. Retirernent beneffts Payments to deffined ¢ontribulK>n rEtiremenl benefft are tharged as an expense as they fall due. Rabbi.. As Rabbi's and Student Rabbi's are self empk)yed we have sh(rwn them as the equlvant of one Rabbi above INVESTMENTS Other investments Inveslrnents Cost At 1 January 2024 Additions Increase in value at year end 37.000 8,543,403 123.190 AT 31 December 2024 8.703.593 Nel book value At 31 December 2024 8.703.593 At 31 December 2023 37,01)0 18
continued Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 STOCKS 2024 2023 stock (non trading) 67,620 68,982 Stock consists of cemelery plots held at Mill Lane, Chead. In 1995, the trustees of Menorah Synagogue arranged with Stockport MBC by means of a Deed of Allolmenl. to prepay for 204 burial spaces at Mill Lane Cemetery, Cheadle. the Synagogue paid one half of the cost lo Menorah Synagogue for a right lo 102 burial spaces. It is understood that if all the spaces have not been used when the Deed of Allotment expires after 99 years the remaining land would revert to Stockport MBC. In 2003, the Synagogue ppaid for a right to a further 100 burial spaces at Mill Lane C8melery, Cheadle. During the year 2 plots were used al a cost of £681 8ach 1.8. £1382 was transferred to funeral costs and reduced the value of stock 10. DEBTORS 2024 2023 Trade debtors Other debtors Prepayments and accrued income 4,190 326,470 7.291 24,696 60,225 62,027 337,951 146,948 11. CASH AND CASH EQUIVALENTS 2024 2023 Cash and bank balances 7.137.771 15,402,160 12. CREDrroRS Amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals and deferred income 9,630 54,156 19,070 39,417 50,230 22,403 82,856 112.050 13. RESERVES 2024 2023 At the beginning of the year Surplus for the financial year 15.543,040 428,249 621.039 15,114,791 At the end of the year 16,164,079 15,543,040 19
continued Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2024 14. FUNDS 14.1 RECONCILIATION OF PAOVEMENT IN FUNDS Unrestrlcted R¢strlcted Funds Funds Totsl Funds At 1 J8nu8ry 2023 Movement during the financial year 347,015 15.117.484 81,234 428,249 {2,6931 15.114.791 At 31 December 2023 Movement during the financial year 15,464,499 623.775 78,541 (2,736) 15,543,040 621,039 At 31 December 2024 16.088.274 75,805 16.164,079 14.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2024 Income Expenditure Transfers Balance between 31 Decernber funds 2024 Restrlcled funds Cemetery Fund Education Fund Resloralion Fund Charity Fund Youth Fund Lionel Blurmlell Choir Fund Charle5 Shay Wallace Hebrew Prize Fund Kol N1d Fund Ladies Guild Fund Frimete Foldberg Education Cup Fund Scroll Repair Fund Window Fund 12.745 13,126 10,615 138 3,783 3,738 1.005 12,745 13,126 10.615 138 3,783 3,687 1,005 51 5.308 20,890 1.358 1.947 4.657 2,598 20,890 1,358 737 5,098 25 762 5,098 78,541 1,972 4,708 75,805 Unrestricted funds Propety Maintenance Fund Buri21 Assistsnce Fund Unrestricted General Legacies 30,993 83,488 14.910,743 439.275 30,993 83.488 15,531,518 442,275 996,519 3.000 375,744 15,464,499 999,519 {375,744) 16.088.274 Total funds 15,543,040 1,001,491 380,452 16,164,079 Unrestrlcted The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are nol subject lo specific conditions by donors and grantors as to how they may be used. These include designated fvnds which have been sel aside out of unrestricted funds by the Irustees for specific purwses. Unrestrlcted Deslgnated Funds Propety Maintenance Fund -: For paIrS lo Synagogue Properties Burial Assistance Funds.. to contribute lo the funeral expenses of eligible participanls in the fund as per resolution passed on 28 April 1983 AGM Restrlcted Cemetery Fund.. For upkeep and repairs lo Cemeteries Education Fund.. "See Note below. Restoration Fund.. 'See Note below. Charity Fund.. Fund lo be distributed lo general charities. Kol Nidre Fund.. Fund to be distributed to specffic charities as per the Presidenls Kol Nidre appeal. 20
continued Manchester Reform Congregation NOTES TO THE FINANCIAL STATEMENTS for Ihe financial year ended 31 December 2024 Ladies Guild Fund.. To be used for the kitchen al a new Synagogue. Frinmete Goldberg Education Cup Fund.. 'See Note below. Scroll Repair Fund.. For repairs to Sefer Torahs Window fund.. For movement of the widows lo new Synagcgue Youth fijnd.. . See note below. Lionel Blundell Choir fund.. Funds to used for the choir and music. Ch8rles Shay Wallace Hebrew Prize Fund.. 'see note below. 'Not8'. the restrictions on these funds have lo be researched to determine their purpose 14.3 ANALYSIS OF NET ASSETS BY FUND Flnan¢lal rixed assets Current assets Current Total Restricted trust funds 78,541 78,541 Unstricted deSnated funds Unrestricted general funds 123,191 8,580,402 114,481 7,350,320 237,672 182,856) 15,847,866 8,703,593 7.464,801 {82,856) 16,085,538 8.703,593 7.543.342 182,856) 16,164,079 15. POST4ALANCE SHEET EVENTS The have been no significant events affecting the Charity since the financial year-end. 21