Synagogue Maharim Dushinsky Limited
Report and Financial Statements
For The Year Ended 30 September 2021 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
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 2021.
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 £11,295 ( 2020 £195,321)
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 1 June 2022, 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 2021
| Notes INCOMING RESOURCES Activities to further the Charitable Activties Total of Fees and Grants Received 2 Annual Events Investment Income and Interest Donations Total Incoming Resources RESOURCES EXPENDED Costs of Generating Funds Fund Raising Costs Net Incoming Resources Available For Charitable Application Charitable Expenditure Analysis of Total Resources Expended 3 Governance Costs 3 Total Resources Expended Total Charitable Expenditure Total Resources Expended 3 Net Movement In Funds Transfer To /(From) Reserves Total Funds at Total Funds at 11 Carried Forward Brought Forward |
Unrestricted Restricted Funds Funds £ £ 203,090 0 0 0 0 0 0 203,090 0 0 203,090 0 0 0 203,090 0 148,374 0 870 0 149,244 0 149,244 0 149,244 0 53,846 0 0 0 1,343,569 0 £ 1,397,415 £ 0 |
£ | 2021 2020 Total Total Funds Funds £ £ 203,090 300,141 0 0 0 0 0 0 203,090 300,141 0 0 203,090 300,141 0 0 203,090 300,141 148,374 312,569 870 550 149,244 313,119 149,244 313,119 149,244 313,119 53,846 (12,978) 0 627,171 1,343,569 729,376 1,397,415 £ 1,343,569 |
|---|---|---|---|
Page 4
Synagogue Maharim Dushinsky Limited
| Synagogue Maharim Dushinsky Limited | ||
|---|---|---|
| Balance Sheet at Notes 2021 £ Fixed Assets Tangible Assets 6 1,954,512 Current Assets Debtors 7 86,518 Cash at Bank and in Hand 147,582 234,100 :Amounts falling due within one year 8 (49,593) Net Current Assets /(Liabilities) 184,507 Total Assets Less Current Liabilities 2,139,019 Creditors : Amounts falling due after more than one year 9 (741,604) Net Assets / (Liabilities) 10 £ 1,397,415 £ Unrestricted Funds 11 770,244 Revaluation Reserve 10 627,171 Total Funds 11 £ 1,397,415 £ 30 September 2021 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 |
716,398 627,171 |
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 2021 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 1 June 2022,
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 2021
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 2021 | 30 September 2021 | 30 September 2020 | 30 September 2020 | ||
|---|---|---|---|---|---|
| **2) ** | Incoming Resources | ||||
| £ | £ | ||||
| Donations and Grants | 122,610 | 220,488 | |||
| Rental Income | 80,480 | 78,415 | |||
| Other Income | 0 | 1,238 | |||
| Total of Fees and Grants Received | £ | 203,090 | £ | 300,141 |
Page 6
| Synagogue Maharim | Dushinsky Limited | Dushinsky Limited | |||
|---|---|---|---|---|---|
| Notes To The Accounts - | 30 September 2021 | ||||
| **3) ** | Analysis of Total Resources Expended | 30 September 2021 | 30 September 2020 | ||
| Cost of Activities In Furtherance | £ | £ | |||
| of the | Charityable Activities | ||||
| Advertising | 0 | 0 | |||
| Bank Service Charges | 205 | 204 | |||
| Books and Publications | 0 | 0 | |||
| Charitable Distribution | 11,295 | 195,321 | |||
| Cleaning | 2,600 | 0 | |||
| Courier | 0 | 0 | |||
| Depreciation | 0 | 0 | |||
| Family Support | 18,300 | 15,410 | |||
| Furniture | 15,133 | 0 | |||
| Insurance | 954 | 1,188 | |||
| Interest Expense | 27,196 | 30,033 | |||
| Letting Fee | 0 | 0 | |||
| Management Fee | 3,250 | 2,607 | |||
| Office | 0 | 0 | |||
| Payroll | 10,797 | 13,910 | |||
| Printing | 2,000 | 160 | |||
| Professional and Legal | 435 | 5,599 | |||
| Rabbinical Student Grants | 40,972 | 27,096 | |||
| Refreshments & Disposable Wear | 4,745 | 5,200 | |||
| Refuse Collection | 0 | 0 | |||
| Rent and Rates | 0 | 0 | |||
| Repairs and Maintenance | 7,972 | 10,197 | |||
| Service Charge | 0 | 3,492 | |||
| Telephone and Internet | 0 | 0 | |||
| Travel | 2,520 | 430 | |||
| Utilities: Gas and Electricity, Water and Waste | 0 | 1,722 | |||
| Total | Cost of Furthering Objects | 148,374 | 312,569 | ||
| Governance Costs | |||||
| Accountancy | 870 | 550 | |||
| Total | Governance Costs | 870 | 550 | ||
| Total | Resources Expended | 149,244 | 313,119 | ||
| Cost of Generating Funds | |||||
| Functions | 0 | 0 | |||
| Total For The Charity | £ 149,244 | £ | 313,119 | ||
| 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 | 2021 | 2020 | |||
| 3 | 3 |
No Employee was paid above £60,000 per year.
Page 7
Synagogue Maharim Dushinsky Limited Notes To The Accounts - 30 September 2021 2021
| 6) Tangible Fixed Assets and Depreciating Assets Equipment £ Cost or valuation At 0 Improvements 0 Revaluation Purchases Disposals At 0 Depreciation At 0 Charge for the year 0 At 0 Net book values £ 0 £ 0 7) Debtors Other Debtors 8) Creditors: Amounts falling due within one year Other Creditors Bank Loan Accruals 9) Creditors: Amounts falling due after more than o Bank Loans and Overdrafts Debt due after more than one year The Bank Loan is secured. 10) Net Assets of The Charity's Funds Unrestricted Funds Total Funds 30 September 2020 30 September 2021 30 September 2021 30 September 2020 30 September 2020 30 September 2021 |
Freehold Total Properties Alarm £ £ £ 1,954,512 1,954,512 0 0 0 0 0 0 0 0 0 0 1,954,512 1,954,512 0 0 0 0 0 0 0 0 0 £ 1,954,512 £ 1,954,512 £ 0 £1,954,512 £1,954,512 £ 0 2021 2020 £ 86,518 £ 85,828 2021 2020 £ £ 1,493 0 47,550 50,000 550 550 £ 49,593 £ 50,550 ne year 2021 2020 £ £ 741,604 759,660 £ 741,604 £ 759,660 Fixed Assets Net Current Assets /(Liabilities) Long Term Liabilities Fund Balances £ £ 1,954,512 184,507 (741,604) 1,397,415 £ 1,954,512 £ 184,507 £(741,604) £ 1,397,415 |
Freehold Total Properties Alarm £ £ £ 1,954,512 1,954,512 0 0 0 0 0 0 0 0 0 0 1,954,512 1,954,512 0 0 0 0 0 0 0 0 0 £ 1,954,512 £ 1,954,512 £ 0 £1,954,512 £1,954,512 £ 0 2021 2020 £ 86,518 £ 85,828 2021 2020 £ £ 1,493 0 47,550 50,000 550 550 £ 49,593 £ 50,550 ne year 2021 2020 £ £ 741,604 759,660 £ 741,604 £ 759,660 Fixed Assets Net Current Assets /(Liabilities) Long Term Liabilities Fund Balances £ £ 1,954,512 184,507 (741,604) 1,397,415 £ 1,954,512 £ 184,507 £(741,604) £ 1,397,415 |
|---|---|---|
| £ | ||
| n £ |
||
| 1,397,415 |
In the light of an independent survey report in May 2009, the property has been appreciated and revalued.
11) Unrestricted Funds :Movements In The Year
| Balance at Total £ General Reserve 1,343,569 Total Funds £ 1,343,569 30 September 2020 |
£ | Transfer To Balance at /(From) 30 September 2021 Income Expended Reserves £ £ £ 203,090 149,244 0 1,397,415 203,090 £ 149,244 £ 0 £ 1,397,415 |
Transfer To Balance at /(From) 30 September 2021 Income Expended Reserves £ £ £ 203,090 149,244 0 1,397,415 203,090 £ 149,244 £ 0 £ 1,397,415 |
|---|---|---|---|
| 1,397,415 |
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
Independent Examiner's 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 2021 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.
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of one of the listed bodies.
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 1 June 2022
C. Rosen & Co
Page 9