## **Synagogue Maharim Dushinsky Limited** **Report and Financial Statements** **For The Year Ended 30 September 2023 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| |Independent Examiner's Report|9| ## **Synagogue Maharim Dushinsky Limited** **Trustees and Directors** Mr. Yeshayahu Abeles Mr Zeew Oppman Mr Yoel Dushinsky The Company is a Charitable Organisation, governed by Memorandum and Articles, and was registered as Charity on 16 November 2007. **Registered office** 66a Gladesmore Road South Tottenham London N15 6TD **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 2023. ## **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 Mr Yoel Dushinsky ## **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 £110,822 ( 2022 £136,743) ## **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 24 June 2024, 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 2023** |Notes
**INCOMING RESOURCES**
**Activities to further the Charitable Activties**
Total of Fees and Grants Received
2
**Total Incoming Resources**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Fund Raising Costs
3
**Net Incoming Resources Available**
**For Charitable Application**
**Charitable Activities**
Analysis of Total Resources Expended
4
Governance Costs
4
**Total Resources Expended**
**Total Charitable Expenditure**
**Total Resources Expended**
4
**Net Movement In Funds**
**Transfer To /(From) Reserves**
**Total Funds at**
**Total Funds at**
13
**Carried Forward**
**Brought Forward**|Unrestricted
Restricted
Funds
Funds
£
£
586,560
0
**586,560**
**0**
0
0
**586,560**
**0**
265,739
0
421
0
266,160
0
**266,160**
**0**
**266,160**
**0**
**320,400**
**0**
**0**
**0**
**1,435,441**
**0**
**£ 1,755,841**
**£ 0**|**£**|2023
2022
Total
_Total_
Funds
_Funds_
£
£
586,560
303,923
**586,560**
**303,923**
**0**
**3,805**
**586,560**
**300,118**
265,739
261,942
421
150
266,160
262,092
**266,160**
**262,092**
**266,160**
**265,897**
**320,400**
**38,026**
**0**
**627,171**
**1,435,441**
**770,244**
**1,755,841**
**£ 1,435,441**| |---|---|---|---| Page 4 ## **Synagogue Maharim Dushinsky Limited** |**Synagogue Maharim Dushinsky Limited**||| |---|---|---| |**Balance Sheet at**
Notes
_2023_
£
**Fixed Assets**
Tangible Assets
8
1,989,689
**Current Assets**
Debtors
9
58,876
Cash at Bank and in Hand
471,217
530,093
**:**Amounts falling due
within one year
10
(3,170)
**Net Current Assets /(Liabilities)**
526,923
**Total Assets Less Current Liabilities**
2,516,612
**Creditors** : Amounts falling due
after more than one year
11
(760,771)
**Net Assets / (Liabilities)**
12
**£ 1,755,841**
**£**
**Unrestricted Funds**
13
1,128,670
**Revaluation Reserve**
12
627,171
**Total Funds**
13
**£ 1,755,841**
**£**
**30 September 2023**
**Creditors**|_2022_
£
1,976,103
73,252
158,310
231,562
(4,801)
226,761
2,202,864|| ||(767,423)|| ||**1,435,441**|| ||808,270
627,171
**1,435,441**|808,270
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 2023 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 24 June 2024, 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 2023** ## **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. ## **Tangible Fixed Assets** Depreciation is provided, after taking into account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life ||Fixtures and Fittings|15% on written down value|15% on written down value||| |---|---|---|---|---|---| |||30 September 2023||30 September 2022|| |**2) **|**Incoming Resources**||||| |||£||£|| ||Donations and Grants||502,215||225,447| ||Rental Income||84,343||78,476| ||Other Income||2||0| ||Total of Fees and Grants Received|**£**|**586,560**|**£**|**303,923**| Page 6 ## **Synagogue Maharim Dushinsky Limited Notes To The Accounts - 30 September 2023** |||30 September 2023|30 September 2023|30 September 2023|30 September 2022|30 September 2022|30 September 2022| |---|---|---|---|---|---|---|---| |||£|||£||| |**3) **|**Cost of Generating Funds**||||||| ||Functions|||0|||3,805| ||**Total Cost of Generating Funds**|||**0**|||**3,805**| |**4) **|**Analysis of Total Resources Expended**||||||| ||Cost of Activities In Furtherance||||||| ||of the Charityable Activities||||||| ||Charitable expenditure||126,862||||96,380| ||Depreciation|||4,913|||2,981| ||Grant funding (See note 5)||110,822|||136,743|| ||Payroll|||23,142|||25,838| ||**Total Cost of Furthering Objects**||**265,739**|||**261,942**|| ||**Governance Costs**||||||| ||Accountancy|||170|||150| ||Bank Charges|||166|||0| ||Legal Fees|||85|||0| ||**Total Governance Costs**|||**421**|||**150**| ||**Total Resources Expended**||**266,160**|||**262,092**|| ||**Total For The Charity**|**£**|**266,160**||**£**|**265,897**|| |**5)**|**Grants payable**||||||| ||Grants to institutions:||106,622|||136,743|| ||Rabbinical Student Grants|||0|||| ||Grants to individuals|||4,200|||| ||||**110,822**|||**136,743**|| |**6)**|**Taxation**||||||| ||The Charitable Company is exempt from taxation on its charitable activities.||||||| |**7)**|The average number of Employees during the year, on a full time equivalent||||||| ||basis was|_2023_|||_2022_||| |||3|||3||| No Employee was paid above £60,000 per year. Page 7 ## **Synagogue Maharim Dushinsky Limited Notes To The Accounts - 30 September 2023 2023** |**8) Tangible Fixed Assets**
and
Depreciating Assets
Equipment
£
Cost or valuation
At
0
Improvements
0
Additions
At
0
Depreciation
At
0
Charge for the year
0
At
0
Net book values
£ 0
£ 0
**9) Debtors**
Other Debtors
**10) Creditors:**
**Amounts falling due within one year**
Other Creditors
Accruals
**11) Creditors:**
**Amounts falling due after more than o**
Bank Loans and Overdrafts
Debt due after more than one year
The Bank Loan is secured.
**12) Net Assets of The Charity's Funds**
**Unrestricted Funds**
**Total Funds**
30 September 2022
30 September 2023
30 September 2023
30 September 2022
30 September 2022
30 September 2023|Freehold
Fixtures and
Total
Properties
Fittngs
Alarm
£
£
£
£
1,959,212
19,872
1,979,084
5,618
0
5,618
0
12,881
12,881
1,964,830
32,753
1,997,583
0
2,981
2,981
0
4,913
4,913
0
7,894
7,894
£1,964,830
£24,859
£1,989,689
£ 1,959,212
£ 16,891
£ 1,976,103
2023
2022
**£ 58,876**
**£ 73,252**
2023
2022
£
£
3,000
4,651
170
150
**£ 3,170**
**£ 4,801**
**ne year**
2023
2022
£
£
760,771
767,423
£760,771
£767,423
**Fixed**
**Assets**
**Net Current**
**Assets**
**/(Liabilities)**
**Long Term**
**Liabilities**
**Fund Balances**
£
£
1,989,689
526,923
(760,771)
1,755,841
**£ 1,989,689**
**£ 526,923**
**£(760,771)**
**£ 1,755,841**|Freehold
Fixtures and
Total
Properties
Fittngs
Alarm
£
£
£
£
1,959,212
19,872
1,979,084
5,618
0
5,618
0
12,881
12,881
1,964,830
32,753
1,997,583
0
2,981
2,981
0
4,913
4,913
0
7,894
7,894
£1,964,830
£24,859
£1,989,689
£ 1,959,212
£ 16,891
£ 1,976,103
2023
2022
**£ 58,876**
**£ 73,252**
2023
2022
£
£
3,000
4,651
170
150
**£ 3,170**
**£ 4,801**
**ne year**
2023
2022
£
£
760,771
767,423
£760,771
£767,423
**Fixed**
**Assets**
**Net Current**
**Assets**
**/(Liabilities)**
**Long Term**
**Liabilities**
**Fund Balances**
£
£
1,989,689
526,923
(760,771)
1,755,841
**£ 1,989,689**
**£ 526,923**
**£(760,771)**
**£ 1,755,841**| |---|---|---| ||£|| ||**n**
**£**|| |||**1,755,841**| **In the light of an independent survey report in May 2009, the property has been appreciated and revalued.** ## **13) Unrestricted Funds :Movements In The Year** |**Balance at**
**Total**
£
General Reserve
1,435,441
**Total Funds**
**£ 1,435,441**
**30 September 2022**|**£**|**Transfer To Balance at**
**/(From)**
**30 September 2023**
**Income Expended**
**Reserves**
£
£
£
586,560
266,160
0
1,755,841
**586,560**
**£ 266,160**
**£ 0**
**£ 1,755,841**|**Transfer To Balance at**
**/(From)**
**30 September 2023**
**Income Expended**
**Reserves**
£
£
£
586,560
266,160
0
1,755,841
**586,560**
**£ 266,160**
**£ 0**
**£ 1,755,841**| |---|---|---|---| ||||**1,755,841**| ## **14) 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 2023 set out on pages 4 to 8. ## **Respective Responsibilities Of Directors / Trustees and Independent Examiner** 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 24 June 2024 C. Rosen & Co Page 9