## **Synagogue Maharim Dushinsky Limited** **Report and Financial Statements** **For The Year Ended 30 September 2020 Company Number 06361759 Charity Number 1121622** ## **Synagogue Maharim Dushinsky Limited** |Contents|| |---|---| ||Page| |Legal and Administrative Information|1| |Report of The Trustees|2 and 3| |Statement Of Financial Activities|4| |Balance Sheet|5| |Notes forming part of the financial statements|6 to 8| |Accountants Report|9| ## **Synagogue Maharim Dushinsky Limited** ## **Trustees and Directors** Mr. Yeshayahu Abeles Mr Zeew Oppman **Secretary:** Mr. Yeshayahu Abeles The Company is a Charitable Organisation, governed by Memorandum and Articles, and was registered as Charity on 16 November 2007. |**Registered office**|| |---|---| |50 Craven Park Road|| |South Tottenham|| |London N15 6AB|| |**Company Number:**|06361759| |**Date of Incorporation**|5 September 2007| |**Charity Number:**|1121622| Page 1 Page 1 ## **Synagogue Maharim Dushinsky Limited Report of the Trustees** The Trustees present their annual report with accounts of the Charity for the Year Ended 30 September 2020. ## **Status and Administration** The Charity is constituted as a company limited by guarantee, and is therefore governed by a Memorandum and Articles of Association. ## **Charitable Objects** The Objects of the Charity are 1)The advancement of the Orthodox Jewish Religion. 2) the advancement of Orthodox Jewish religious education and education generally. 3) the relief of poverty, old age, illness, both mental and physical and the relief of persons suffering from any disability and 4) such other charitable purposes as the association may, from time to time, authorise. The Charitable Company has continued to provide these services during the period. ## **Directors and Trustees** The Trustees in office throughout the period were Mr. Yeshayahu Abeles Mr Zeew Oppman ## **Reserves Policy** The trustees retain reserves as necessary and where appropriate, consolidate funds in order to finance the Charity, and to make Grants as appropriate. Page 2 ## **Synagogue Maharim Dushinsky Limited Report of the Trustees** ## **(Continued)** ## **Responsibilities of the Trustees** Charity Law and Company Law requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company as at the Balance Sheet Date,and of its incoming resources, including income and expenditure for the financial year. In preparing those financial statements, the Trustees should follow best practice and a. Select suitable accounting policies and the apply them consistently. b. Make judgements and estimates that are reasonable and prudent. c. Follow applicable accounting standards and the Charities SORP 2015, disclosing and explaining any departures in the financial statements. d. Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in operation. The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them as Trustees to ensure that the financial statements comply with the Charity Law. The Trustees are also responsible for safeguarding the charity's assets, and hence for taking reasonable steps for the prevention and detection of fraud and other regularities. ## **Board Of Trustees** Members of The Board of Trustees, who are Directors for the purpose of Company Law and Trustees for the purpose of Charity Law, are set out on Page 1. ## **Political and Charitable Donations** During the period, the Charity made Grants and Donations of £195,321 ( 2019 £359,594) ## **The Euro** The impact of the Euro has been considered generally by the company. Although the impact of the changeover to the Euro is not currently anticipated to be significant, this issue is being closely monitored. The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by The Trustees of Synagogue Maharim Dushinsky Limited on 21 June 2021, and signed on behalf of them all. Mr. Yeshayahu Abeles Trustee Page 3 ## **Synagogue Maharim Dushinsky Limited** ## **Statement Of Financial Activities** ## **For The Year Ended 30 September 2020** |Notes
Unrestricted
Restricted
Funds
Funds
£
£
**INCOMING RESOURCES**
**Activities to further the Charitable Activties**
Total of Fees and Grants Received
2
300,141
0
Annual Events
0
0
0
0
**Investment Income and Interest**
0
300,141
0
**Donations**
0
**Total Incoming Resources**
**300,141**
**0**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Fund Raising Costs
0
0
**Net Incoming Resources Available**
**For Charitable Application**
**300,141**
**0**
**Charitable Expenditure**
Analysis of Total Resources Expended
3
312,569
0
Governance Costs
3
550
0
**Total Resources Expended**
313,119
0
**Total Charitable Expenditure**
**313,119**
**0**
**Total Resources Expended**
3
**313,119**
**0**
**Net Movement In Funds**
**(12,978)**
**0**
**Transfer To /(From) Reserves**
**0**
**0**
**Total Funds at**
**1,356,547**
**0**
**Total Funds at**
11
**£ 1,343,569**
**£ 0**
**Carried Forward**
**Brought Forward**|**£**|2020
Total
Funds
£
300,141
0
0
0
300,141
0
**300,141**
**0**
**300,141**
312,569
550
313,119
**313,119**
**313,119**
**(12,978)**
**0**
**1,356,547**
**1,343,569**|2019
_Total_
_Funds_
£
750,300
0
0
0
750,300
0
**750,300**
**0**
**750,300**
516,382
550
516,932
**516,932**
**516,932**
**233,368**
**627,171**
**496,008**
**£ 1,356,547**| |---|---|---|---| Page 4 ## **Synagogue Maharim Dushinsky Limited** |**Balance Sheet at**
Notes
**Fixed Assets**
Tangible Assets
6
**Current Assets**
Debtors
7
Cash at Bank and in Hand
**:**Amounts falling due
within one year
8
**Net Current Assets /(Liabilities)**
**Total Assets Less Current Liabilities**
**Creditors** : Amounts falling due
after more than one year
9
**Net Assets / (Liabilities)**
10
**£**
**Unrestricted Funds**
11
**Revaluation Reserve**
10
**Total Funds**
11
**£**
**30 September**
**Creditors**|**Balance Sheet at**
Notes
**Fixed Assets**
Tangible Assets
6
**Current Assets**
Debtors
7
Cash at Bank and in Hand
**:**Amounts falling due
within one year
8
**Net Current Assets /(Liabilities)**
**Total Assets Less Current Liabilities**
**Creditors** : Amounts falling due
after more than one year
9
**Net Assets / (Liabilities)**
10
**£**
**Unrestricted Funds**
11
**Revaluation Reserve**
10
**Total Funds**
11
**£**
**30 September**
**Creditors**|_2020_
£
1,954,512
85,828
113,439
199,267
(50,550)
148,717
2,103,229
(759,660)
**1,343,569**
716,398
627,171
**1,343,569**
**2020**|**£**|_2019_
£
1,934,034
86,233
117,106
203,339
(550)
202,789
2,136,823|_2019_
£
1,934,034
86,233
117,106
203,339
(550)
202,789
2,136,823| |---|---|---|---|---|---| |||||(780,276)|| |||||**1,356,547**|| ||**£**||**£**|729,376
627,171
**1,356,547**|729,376
627,171| These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard for Small Entities. For the financial year ended 30 September 2020 the company was entitled to an exemption from under Section 477 Companies Act 2006, and no notice has been deposited under Section 476. The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the company. Approved by the Trustees on 21 June 2021, and signed on behalf of them all. Mr. Yeshayahu Abeles Trustee The notes on pages 6 and 7 form part of these accounts. Page 5 ## **Synagogue Maharim Dushinsky Limited** ## **Notes To The Accounts - 30 September 2020** ## **1) Principal Accounting Policies** ## **Basis of Accounting** The Accounts have been prepared under the historical cost convention in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and Reporting By Charities: Statement of Recommended Practice (effective from April 2015). **Cash Flow** The accounts do not include a cash flow statement because the charitable company as a small reporting entity is exempt from the requirement to prepare such a statement. ## **Donations and Fund Accounting** Donations received for the general and main purposes of the Charity are included as unrestricted funds in the Statement of Financial Activities when receivable. Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees. ## **Resources Expended** Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. The irrecoverable element of VAT is included with the item of expense to which it relates. |||30 September 2020|30 September 2020|30 September 2019|30 September 2019| |---|---|---|---|---|---| |**2) **|**Incoming Resources**||||| |||£||£|| ||Donations and Grants||220,488||675,447| ||Rental Income||78,415||74,853| ||Other Income||1,238||0| ||Total of Fees and Grants Received|**£**|**300,141**|**£**|**750,300**| Page 6 ||**Synagogue Maharim Dushinsky Limited**|**Synagogue Maharim Dushinsky Limited**||| |---|---|---|---|---| ||**Notes To The Accounts -**|**30 September 2020**||| |**3) **|**Analysis of Total Resources Expended**|30 September 2020|30 September 2019|| |Cost of Activities In Furtherance||£|£|| |of the|Charityable Activities|||| ||Advertising|0||2,325| ||Bank Service Charges|204||129| ||Books and Publications|0||2,650| ||Charitable Distribution|195,321||359,594| ||Cleaning|0||4,000| ||Courier|0||0| ||Depreciation|0||0| ||Family Support|15,410||0| ||Insurance|1,188||2,088| ||Interest Expense|30,033||33,463| ||Letting Fee|0||0| ||Management Fee|2,607||2,966| ||Office|0||0| ||Payroll|13,910||26,856| ||Printing|160||961| ||Professional and Legal|5,599||15| ||Rabbinical Student Grants|27,096||56,720| ||Refreshments & Disposable Wear|5,200||9,435| ||Refuse Collection|0||0| ||Rent and Rates|0||0| ||Repairs and Maintenance|10,197||5,344| ||Service Charge|3,492||4,484| ||Telephone and Internet|0||0| ||Travel|430||3,378| ||Utilities: Gas and Electricity, Water and Waste|1,722||1,974| |**Total**|**Cost of Furthering Objects**|**312,569**||**516,382**| |**Governance Costs**||||| |Accountancy||550||550| |**Total**|**Governance Costs**|550||550| |**Total**|**Resources Expended**|**313,119**||**516,932**| ||**Cost of Generating Funds**|||| ||Functions|0||0| ||**Total For The Charity**|**£ 313,119**|**£**|**516,932**| |**4)**|**Taxation**|||| ||The Charitable Company is exempt from taxation on its charitable activities.|||| |**5)**|The average number of Employees during the year, on a full time equivalent|||| ||basis was|_2020_|_2019_|| |||3|3|| No Employee was paid above £60,000 per year. Page 7 ## **Synagogue Maharim Dushinsky Limited** ## **Notes To The Accounts - 30 September 2020** |**2020**
Plant
**6) Tangible Fixed Assets**
and
Freehold
Total
Depreciating Assets
Equipment
Properties
Alarm
£
£
£
£
Cost or valuation
At
0
1,934,034
1,934,034
0
Improvements
0
20,478
20,478
0
Revaluation
0
0
Purchases
0
0
Disposals
0
0
At
0
1,954,512
1,954,512
0
Depreciation
At
0
0
0
0
Charge for the year
0
0
0
0
At
0
0
0
Net book values
£ 0
£ 1,954,512
£ 1,954,512
£ 0
£ 0
£1,934,034
£1,934,034
£ 0
**7) Debtors**
2020
2019
Other Debtors
**£ 85,828**
**£ 86,233**
**8) Creditors:**
**Amounts falling due within one year**
2020
2019
£
£
Other Creditors
0
0
Bank Loan
50,000
0
Accruals
550
550
**£ 50,550**
**£ 550**
**9) Creditors:**
**Amounts falling due after more than one year**
2020
2019
£
£
Bank Loans and Overdrafts
759,660
780,276
Debt due after more than one year
£759,660
£780,276
The Bank Loan is secured.
**10) Net Assets of The Charity's Funds**
**Fixed**
**Assets**
**Net Current**
**Assets**
**/(Liabilities)**
**Long Term**
**Liabilities**
**Fund Balances**
£
£
**Unrestricted Funds**
1,954,512
148,717
(759,660)
1,343,569
**Total Funds**
**£ 1,954,512**
**£ 148,717**
**£(759,660)**
**£ 1,343,569**
**In the light of an independent survey report in May 2009, the property has been appreciated**
**and revalued.**
30 September 2019
30 September 2020
30 September 2020
30 September 2019
30 September 2019
30 September 2020|**2020**
Plant
**6) Tangible Fixed Assets**
and
Freehold
Total
Depreciating Assets
Equipment
Properties
Alarm
£
£
£
£
Cost or valuation
At
0
1,934,034
1,934,034
0
Improvements
0
20,478
20,478
0
Revaluation
0
0
Purchases
0
0
Disposals
0
0
At
0
1,954,512
1,954,512
0
Depreciation
At
0
0
0
0
Charge for the year
0
0
0
0
At
0
0
0
Net book values
£ 0
£ 1,954,512
£ 1,954,512
£ 0
£ 0
£1,934,034
£1,934,034
£ 0
**7) Debtors**
2020
2019
Other Debtors
**£ 85,828**
**£ 86,233**
**8) Creditors:**
**Amounts falling due within one year**
2020
2019
£
£
Other Creditors
0
0
Bank Loan
50,000
0
Accruals
550
550
**£ 50,550**
**£ 550**
**9) Creditors:**
**Amounts falling due after more than one year**
2020
2019
£
£
Bank Loans and Overdrafts
759,660
780,276
Debt due after more than one year
£759,660
£780,276
The Bank Loan is secured.
**10) Net Assets of The Charity's Funds**
**Fixed**
**Assets**
**Net Current**
**Assets**
**/(Liabilities)**
**Long Term**
**Liabilities**
**Fund Balances**
£
£
**Unrestricted Funds**
1,954,512
148,717
(759,660)
1,343,569
**Total Funds**
**£ 1,954,512**
**£ 148,717**
**£(759,660)**
**£ 1,343,569**
**In the light of an independent survey report in May 2009, the property has been appreciated**
**and revalued.**
30 September 2019
30 September 2020
30 September 2020
30 September 2019
30 September 2019
30 September 2020|**2020**
Plant
**6) Tangible Fixed Assets**
and
Freehold
Total
Depreciating Assets
Equipment
Properties
Alarm
£
£
£
£
Cost or valuation
At
0
1,934,034
1,934,034
0
Improvements
0
20,478
20,478
0
Revaluation
0
0
Purchases
0
0
Disposals
0
0
At
0
1,954,512
1,954,512
0
Depreciation
At
0
0
0
0
Charge for the year
0
0
0
0
At
0
0
0
Net book values
£ 0
£ 1,954,512
£ 1,954,512
£ 0
£ 0
£1,934,034
£1,934,034
£ 0
**7) Debtors**
2020
2019
Other Debtors
**£ 85,828**
**£ 86,233**
**8) Creditors:**
**Amounts falling due within one year**
2020
2019
£
£
Other Creditors
0
0
Bank Loan
50,000
0
Accruals
550
550
**£ 50,550**
**£ 550**
**9) Creditors:**
**Amounts falling due after more than one year**
2020
2019
£
£
Bank Loans and Overdrafts
759,660
780,276
Debt due after more than one year
£759,660
£780,276
The Bank Loan is secured.
**10) Net Assets of The Charity's Funds**
**Fixed**
**Assets**
**Net Current**
**Assets**
**/(Liabilities)**
**Long Term**
**Liabilities**
**Fund Balances**
£
£
**Unrestricted Funds**
1,954,512
148,717
(759,660)
1,343,569
**Total Funds**
**£ 1,954,512**
**£ 148,717**
**£(759,660)**
**£ 1,343,569**
**In the light of an independent survey report in May 2009, the property has been appreciated**
**and revalued.**
30 September 2019
30 September 2020
30 September 2020
30 September 2019
30 September 2019
30 September 2020| |---|---|---| ||**£**|| |||**1,343,569**| |||| ## **11) Unrestricted Funds :Movements In The Year** |**Balance at**
**Total**
£
General Reserve
1,356,547
**30 September 2019**|**Transfer To Balance at**
**/(From)**
**30 September 2020**
**Income Expended**
**Reserves**
£
£
£
300,141
313,119
0
1,343,569| |---|---| Page 8 **Total Funds £ 1,356,547 £ 300,141 £ 313,119 £ 0 £ 1,343,569** ## **12) Related Party Transactions** No trustee nor any person connected with them received any remuneration, or claimed any expense, during the year, from this or any related Charity. There were no Related Party Transactions in the Year. Page 8 ## **Accountants Report to the Trustees on the Unaudited Accounts of the Charitable Company Synagogue Maharim Dushinsky Limited** We report on the accounts for the year ended 30 September 2020 set out on pages 4 to 8. ## **Respective Responsibilities Of Directors / Trustees and Reporting Accountants** As described on page 3, the trustees as directors of the charitable company are responsible for the preparation of the accounts, and they consider that the company is exempt from an audit. It is our responsibility to carry out the procedures designed to enable us to report our opinion. ## **Basis of Opinion** Our work was conducted in accordance with the Statement of Standards for Reporting Accountants and so our procedures consisted of comparing the accounts with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion. ## **Opinion** In our opinion - a) The Accounts are in agreement with the accounting records kept by the company under Section 447 of the Companies Act 2006; - b) Having regard to, and on the basis of, the information contained in those accounting records: (I) The Accounts have been drawn up in a manner consistent with the accounting requirements specified in section 386 of the Act; and (II) The Company satisfied the conditions for exemption from an audit of the accounts for the year specified in section 476 of the Act and did not, at any time within that year, fall within any of the categories of companies not entitled to the exemption specified in section 477. Date 21 June 2021 ## **Reporting Accountants** C. Rosen & Co Certified Accountants 50 Craven Park Road South Tottenham London N15 6AB Page 9 ## **Synagogue Maharim Dushinsky Limited** **Abbreviated Accounts** **For The Year Ended** **30 September 2020** **Company Number 06361759 Charity Number 1121622** ## **Synagogue Maharim Dushinsky Limited** ||Contents|| |---|---|---| |||Page| |Balance Sheet||1| |Notes to the Accounts||2| ## **Synagogue Maharim Dushinsky Limited** Abbreviated Balance Sheet at **30 September 2020** |Notes
**Fixed Assets**
Tangible Assets
2
**Current Assets**
Debtors
Cash at Bank and in Hand
**: Amounts falling due**
within one year
**Net Current Assets /(Liabilities)**
**Total Assets Less Current Liabilities**
**Creditors**
: Amounts falling due
after more than one year
3
**Net Assets / (Liabilities)**
**Restricted Funds**
**Revaluation Reserve**
**Total Funds**
**Creditors**|**£**|_2020_
£
1,954,512
85,828
113,439
199,267
(50,550)
148,717
2,103,229
(759,660)
**1,343,569**
716,398
627,171
**1,343,569**|**£**|_2019_
£
1,934,034
86,233
117,106
203,339
(550)
202,789
2,136,823|_2019_
£
1,934,034
86,233
117,106
203,339
(550)
202,789
2,136,823| |---|---|---|---|---|---| |||||(780,276)|| |||||**1,356,547**|| ||**£**||**£**|729,376
627,171
**1,356,547**|729,376
627,171| These abbreviated accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 . For the financial year ended 30 September 2020, the company was entitled to an exemption from under Section 477 Companies Act 2006, and no notice has been deposited under Section 476. The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the year and of its profit or loss for the financial year in accordance with the requirements of sections 394 and 395 which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the company. Approved by the Trustees on 21 June 2021, on behalf of them all. Mr. Yeshayahu Abeles Trustee The notes on page 2 form part of these abbreviated accounts. Page 1 ## **Synagogue Maharim Dushinsky Limited** ## **Notes To The Abbreviated Accounts - 30 September 2020** ## **1) Principal Accounting Policies** ## **Basis of Accounting** The Accounts have been prepared under the historical cost convention in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, Charities Act (Accounts and Reports) 2011, and the Financial Reporting Standard for Smaller Entities 102, and follow the recommendations in Accounting and ## **Donations and Fund Accounting** Donations received for the general and main purposes of the Charity are included as unrestricted funds in the Statement of Financial Activities when receivable. Donations and Grants for activities restricted by the donors are taken to restricted funds if the wishes and conditions of the donor are legally binding on the Trustees. ## **Resources Expended** Resources expended are accounted for on an accruals basis. Certain expenditure is apportioned to cost categories based on estimated amount attributable to that activity in the year. These estimates are based on the time and level of activity as appropriate. Management and administration costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. The irrecoverable element of VAT is included with the item of expense to which it relates. ## **2) Fixed Assets** |**2) Fixed Assets**|||| |---|---|---|---| |Tangible
Fixed Assets
Cost or valuation
At
1,934,034
Improvements
20,478
Disposals
0
At
1,954,512
Depreciation
At
0
Charge for the year
0
At
0
Net book values
£ 1,954,512
£1,934,034
**3)**
Creditors:
Amounts falling due after more than
Bank Loans and Overdrafts
Debt due after more than one year
repayable within five years
repayable after five years
30 September 2019
30 September 2019
30 September 2019
30 September 2020
30 September 2020
30 September 2020|0
one year
2020
£
£ 759,660
151,932
607,728
£ 759,660|£|2019
£
780,276| ||£|£|156,055
624,221| ||||780,276| Page 2