Char•ty Reglstration No. 1123950 Company Registration No. 06545357 (England and Wales) EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 llllw •AB3216BK* 7410512022 COMPANIES HOUSE A13
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EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees D Gdlis A Kleinman D Walerman SDDryei J M Sobel AB Sweiry J Savery S Diston J F Palmer R AGoldmeier (Appointed 9 December 20201 (Appoinled 27 Oclobef 20211 (Appointed 27 October 20211 T E Cohen J H Sumroy Secretary D Gillis Charfty number 1123950 ompany number 1%545357 Auditor Glazers 843 Finthley Road London NW11 8NA
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Truslees. report Statement of Iru5tees' responsibility.es Independenl audilorfs report sralement of financial activiknes Balance sheet 10 Statemertt ¢1 cash liows 11 Notes to the financial 51alements 12-22
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2021 The trustees present Iheif annual report and financial statemenls lor the year ended 31 August 202 1. The accounts have been Pfepared in accordance vthh ihe accounting policies set out in note 1 lo the auntS and Comply with the Memrandum and Articles ol A55¢xialion. the Companies Act 2006 and the Statement of Recommended Praclice. 'A¢covnh"ng and Reporhng by Charittes". appliCae to charities preparing their accounts in accordance with the Financial Reportuig SLindard applicable in Ihe UK and Republi¢ ol Ireland IFRS 1021 effeC'Ve 1 January 2015. Objectives and activlties The organisalion exisls to manage and administer the EdgwaTe Adath Yisroel Congregation IEAYC) Synagogue. and lo advartce ortho¢Jox Jewish rdwjion and (Nlhodox Jewsh religious edu¢abOn. The trustees have paid due regard io guidance issued by the Charity Commission in de¢ir0 what aclivth.es the chaTlty should undertake. The main functicn has been to ensure Ihe continued wnning ofthe Synagogue in all 115 facets. EAYC nJn$ the EAYC nursery through a separatsty apptynted Board of Govemots. There is an aclive educalion committee who arrange leaming actiwties at all levels for all ages. EAYC funs a charitable lund designed to help those in need wthin Ihe Gommunity and coNecls fvnds for dislribvlion to indepen(Jent charilses en939ed in either Jewish religious education or the relief ol poverty. All Ihe seNices provided by the Synagogue are available to the ¢ommLmrty wthout charge. EAYC is lortunale enough lo have been the beneficiary of a se¢urity gfanl aggregating £51.891 from the Communily Sètunty Trust, a registered chality, lo assisl in coverin9 the cost of securing Ihe synagogue wemises. Achievements ahd performance EAYC has continued to provide a hh quality service lo the community and a lange of events ¥nd services 4Mlh a welcoming atmospheie. We believe the outbreak ol Cofonawws has had a notable impact on the charily's incoming resour¢es.The chaiity was to make use of the coronaviws lob retention scheme lo lessen Ihe impact. Financial review EAYC opeialed wlh a deficil in Ihe last finan¢ral year.The financ1 results lor the period under review are sel out in Ihe attsched finanoal statements together 1h the notes thereon. 11 is the policy ol the chanty that n$t11e lunds vthich have not been designaled for a specific use should e maintained al a level equivalent to srx month's normal budgeted expendilure plus a contingency fund. The truslees consider thal reseryes al this level wll ensure that, in.the event of a svJnificant drop in lunding..Ihey 11 be able to continue the company's currenl a¢livilie$ 4•thile consideration is gwen lo ways in which additional funds may be caised. This levd of reserves has been maintained Ihrou9hoLrt the year. The truslees have a$sesse¢J the major fisks lo W"¢h the ¢harity 1$ exposed. and a sabsfied that syslem$ are in place lo miligaie exposure to Ihe major risks. General running expenses of Ihe Synagogue have hisloricaty been covered by membership and general donations and Ihe Council of Managemenl see no reason why this should nol continue in the future. The loan th Barclays Bank is sewred against the freehold property. The Trustees consider Ihal ongoing pledges and building fund commitments made by members and other well-wishers, together with fulure fvndraising aclivilies. wll be sufficient to cover Ihi5 arrangemenl.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2021 Structurei governance and management The charity is a company limited by guarantee. registered al Companies House on 26 March 2008. The operation ol the oigantsalion is controlled by rts Memorandum and ArtKles ofAssocialion whh were adopted by the members on 31 March 2008. The trustees, who are also the directors for the purpose of company law. and vtho served ¢Juring the year and up to Ihe dale ol signature of the financial statements were". D Gillis A Kleinman D Waterman A H Wolfson M M M Giunewald Sooryer R J Joseph J R Raivid J M Sobel AB Sweiry J Savery S Cohen Dmwnne S Oiston J F Palmer R A Goldmeier T E Cohen J H Sumroy (Resigned 27 Oclober 20211 (Resigned 9 Oe¢ember 20201 (Resigned 9 December 20201 {Resigned 9 December 2020) (Resrgned 27 October 20211 (Resigned 9 December 20201 {Appoinled 9 Oecember 20201 IAppoinied 27 October 20211 (Appointed 27 October 2021) None ol the trustee5 ha5 any benefKial inleresl in the company. Al of the trustees are membws of the company. All members of the Company guarantee to Contribute £7 in Il* event of a winding up. A Council of Managemenl consisiing of two wardens. h¥0 joint treasurers. and an honorary secielary {referd lo as Ihe Honorary Officers) and eighl olher persons are elected each year at Ithe Annual General Meeting. In addition lo Iheir appointmenl as the Cour¥¢il of Manayemenl. ea¢h person elected is a dIlor of the Company and effectively then becomes a trustee of the Charity. There are inextricable links bets¥een EAYC and Bell ShVidr Primary School18SPSI. The Articles of Associalion require one member of Ihe Council of Managemenl lo be a 9ovemor ol the school, and a reciprocal arrangemenl exists for a nominated govemor of BSPS lo hold office as a Irvslee of ihe chaiily. EAYC operates the EAYC nursery which has its own Board of Goveintsrs who are appointed annually at the nursery's annual geneial meeting The Iransacltons of the nursery are induded in ese accounts. EAYC has connections smth ihe Edgware Eruv Commiitee, registered charity number 1111850. Auditor In accordance wlh the ¢ompany's artides. a resokrtion proposing Ihat Glazers be reappcinleil a$ auditor of Ihe company will be put al a General MeelJng_ Disclosur• of InfoTmat•on to aud•tor Each of the lius(ees has confirmed that there 15 no information of which they are aware which is relevant lo the avdil, but of which the audtlor is unaware. They have ftjrther confjrmed Ihat they have taken appropriate steps lo identify such felevanl inlomialiorb and lo eslablish that Ihe avdiloi is aware of such information.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The trustees. report was approved by the Board ol Trustees. O Waterma Oiiector Oaled".
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2021 The Iruslees. who are also the directors of Edgware Adalh Yisroel Congregalton Limited for the purpose of company law. are SPOnsIble for preparing the Trustees. Report and the finan¢ial stalemenls In accordance wth applicable law aThJ United Kingdom Accountirvj Slandards (United Kingdom Genecalty Accepled Accounting Praclicel. Company Law requires the trustees to prepa finanoal stements for each financial year gNe a true and fair view of ihe slate of affaiis of the charily and ol the incoming resoui¢es and application of resources, includin9 the in¢ome and e¥penditure, of the tharilable company for thal year. In preparing these financial slalemenls, the trustees are fequiced to.. - select suilable accounting poli¢ies and then apth them cMslenlty". - obseThe the methods and Princie5 Ihe chariti.es SORP: - make jLHlgemenls and eslimales Ihal are reasonat4e and prudenl- and prepare the financial stateMtS on the going ¢on¢efn basi$ unless it is inappropriale to presume that the Charity wll Continue in operation. The Iwslees are re$SIble lor keewng adequale accounting records thal discjose reasonalAe accLbracy at any time the financial po%tion ol the chanty and enable them to ensuit that the financial statements comply with the Companies Acl 2006. They are also responwble for safeguaiding the assels of ihe charily and hence for taking reasonable $leps for the prevention and deledion ol fraud and other irregularits"es.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EDGWARE ADATH YISROEL CONGREGATION LIMITED Opinion We have audited the finantyal statements of EdgwarÈ Adath Yisroel Congrègation Limited (the 'ch8nly'l for the year ended 31 August 2021 which comprise the slalement of financial ath"wties. ihe balance sheet. the statement of cash flows and the noles lo the financial statements. induding significant accounling policie5. The financial reporting framwrk that ha5 been applied in Iheir preparation 15 applicable law and United Kingdom Ac¢ovnling Standards. including FRS 102 Yhe Finanaal Reporting Slandafd applicable in the UK and Republic of Ireland" {Uniled Kingdom Genergly Accepted Accounting Pfaclicel. In our opinion. the financial statements". give a true and fair view of the slate ol the charitable MpanY'S affaws as al 31 August 2021 and of 415 incomin9 resources and application of SOurCes. for the year then ended.. have been properly wepartd in accordan¢e with United Kingdom Generally Accepted Accounting Practice". and have been piepaied in accordance with the requirements of the Comparies Act 2006. Basls for oplnlon We conducted OUT audit in accordance ilh Inlernabonal Standafd$ on Auditing (UK} (ISAS IUKII and applicable law. Our responsibilities under those slandards afe lurther describe(l in Ihe Audilorfs fesponsibilrties for the audit ol the firsancial statements section of our report. We are independent of the challty in accordance with the ethical requirements that are relevant io our audit of the finan¢ial slalemenls in Ihe UK, in¢luding the FRC'S Ethi¢al S¢andard, and we have fulfilled our other ethical respon51bilities in accordance wlh these requirements. We believe that the audil evidence we have obtained is sufficienl and appropriate to Pfovide a basis lor oui opinion. Coneluslons velatlng to goin9 ¢Olleè¥lb In auditing the financial siatements, we have conduded thal Ihe Iwstees. use ol the going concern basis of a¢¢ovnbng In the preparation ol the finan¢bal sMements is appropriate. Based on the work we have perfomed. we have not idents.fied any maierial uncertainties relating lo events or conditions that. individually or collectjvely. may cast significant doubt on the charity's ability to continue as going concern for a period ol al least i[Ve nbjnths from when the financbal slaiemenls afe aulhorised for issue. Our re41onsibilities and the responsibih"ty"es of the trustees SPeCt to going Cor* are described in Ihe relevant sections ol this report. Other infoyrnation The other information comprises the information included in the annual report olher than the financial 51alemenis and our auditor's report thereon. The twuslees are Tesptsnsie for the other inlomiab.on contained wrthin the annLtal report. Our opinion on Ihe financial staiemenis does not cover the olher information and we do nol express any form ol assurance condusion thereon_ Our responsibility is to read the other information and. in doing y), consider vA)ether the other information is malerially inconsistent with the finarKial statements or our knowledge obtained in the ¢ourse of the audrt, or otheThwse appears to be malerially misstated. If we identify such material inconsistencies or apparent material misstalemenls. we are reqUred to determine whether Ihis gives rise lo J maleiial misstaiemeni in the finanaal statements themselves. If, based on Ilie work we have performed, we conclude that there 1$ a maierial misstatement of Ihis other infomialion. we are required lo feport that fact. We have nolhing lo report in this regard.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EDGWARE ADATH YISROEL CONGREGATION LIMITED Matters on which we •re requlred to report by exeeption We have nothing lo ieport in respect of the followng matters in relation lo which the Charities (Axounts and Reports) Regulations 2008 reqtjiie us to rep¢Jt lo you if. in our opinion. the infoim31ion given in the finanual statÈments is inconsistent ary material respe¢l with the trustees. ieport.. or sufficient accounting records have not been kept". or the financial statements are not in agreement with the a¢¢ounb"ng records", or we have not received all the information and explanations we require for our audit. Responsibilities of tru$tees As explained more lully the 51atemenl of trv5tees' responsibilities. the Iruslees. who are also the directors of the ¢harity lor Ihe puipose of company law, are responsible for Ihe preparation ol Ihe financial statements and for being satisfied that they give a true and fair view, and for such inlemal ¢onlrol as the trustees determine is necessary lo enable the preparalion ol financial slalements that are Iree from material misstalemenl, whether due to fraud or error. In weparing the financial slalemen15, the liuslees are responsible for assessing the ¢hanty's ability lo Continue as a gtyng ¢on¢ern. disclo*ng. as applicable. matters relaled to going ¢oncem and using the going cofbcern basis of accwnting unless the truslees eilher intend to liquidale the charitable company or lo ¢ease operats"ons. ty have no reali5b"c allernabve but to do so. Auditorfs responsibllities lor the audit ol the linancial statements We have been appointed as auditor under section 144 of the Charit5 Act 2011 and report in accordance with the Act and relevant re9ylation$ made or having effe¢1 IheTeunder. Our objectives are lo obtsin reasonable assurance about whelher the finanoal stalements as a whole are Iree from material misstalemenl. whether due to fraud or euor. and to Issue an audilor's report that includes our opirbion. Reasonable a55urance is a high level of assurance bul is not a 9uafantee that an avdrt conducted in accordance wlh ISAS IUKI wll aayS detect a malerial mi5Stalemenl en it exists. Misslatemenls can arise from fraud or error and are considered malerial il, indiwdually or in Ihe aggregate. they could reasonably be expected to inftuence the econom deagons ol users taken on the basis of these financlal statements. Ifregularities. incbjding fraud. afe instances of non-eomp]iance wrth laws and regulations. We design procedures in line wlh our responsibililies. OLblline¢J above. to detect malerial misslatemenls in respect ol irregularities. in¢luding fraud. The exlenl lo which otjr procedures are Capable of dete¢ting irregularitie$. in¢hJding fraud, is detailed below.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EDGWARE ADATH YISROEL CONGREGATION LIMITED In identifying and a55e55ing risks of material misstslemenl in respect of irregularities. induding fraud and non- compliance with laws and regulations. we ¢Msidered Ihe folknmng". 11 Enquiries of management conceinin9 Ihe charity's policies and procedures relatin9 10.. identifying, evaluating and comptying wth laws and regulakn.ons and whethw Ihey were aware of any insiances ol non-compliance detecting and responding lo the risks ol fraud and whether they have knOedge of any actual, su$pe¢led 01 alleged fraud.. and the intemal cmtrols established to mitvjate risks related lo fraud crf non•compliartt wth laws and regulation5", 21 Discussions among the engagement team regarding and vlhen fraud mighl occvr in the finan¢ial slalements and any potenb.al indicators of fraud. In common with all audrts under ISAS (UKI, we are also wuired lo perform spec¢fiG procedures to respond to the risk ol management override. We also obtained an understanding of the legal and ie9ulatory framework that the charity operates in. focusing On provisions of those laws and regulation5 Ihal had a direct effect on the determination ol material amounts and disclosurts in the finarla1 slatemenls. The key laws and regula)"ons we considered in this context included the UK Companies Act and IFRS as issued by the IASB and adopted by the EU. and 'Accounting and Reportin9 by Charilies." Slalernent of ReGofflmended Practice applicable lo Gharilies preparing their accounts tn accordance wilh the Financial Reporting Standard applscable in Ihe UK and Republic of Ireland IFRS 1021 (effective 1 Janvary 20191" The charity is a Public Benefrt Entity as defined by FRS 102. In addition. considered provisions of other laws and regllations that do not have a direct effect on the financial stalemenl$ bul COMlance 7Mih vknich may be fundamentsl lo the charity's ability lo operate or avoid a material penally. As a result of performing the above. we did nol idenlfy any key audit mallers relaied lo the potenlial risk of fraud non-compliance with laws and regulation$. In addilion lo the above. OUT procedures to respond to risks hlenb.fied induded the followin9.' Reviewing the finanaal sfatement disclosures and tesbng to supporting documentation lo assess compliance wth rKovisions of relevant laws and gUlatiOnS describe¢J as having a direcl effecl on ihe finanaal slalemertts". Enquiring of management conceming aclual and polenlial litigation and claims.. Performing analybcal procedures to identify any unusual or unexpecled relationships that may indi¢ale risks ol material misstatement due to fraud.. In addie55ing the rlsk of Ifaud through managemenl override of conirols, testing the approprialet)ess of jOLmal entries and othèr adiLtslments." assessing whèther the judgements made In making accounting eslimales are indicallve of a potentsal bias,. and evaluating the bLbsiness ratmjnale of any si9nificanl transactions that are nusual oi outside the normal Course of busine55. We also communi¢aled relevant idenlified law5 and regulatKJns and potenlial fraud risks lo all engagement team members. and remained alert to any Indicatn$ of fraud or non-wnpliance with laws and fegulations throughout the audit. We note Ihal our audit is not primarity designed lo detecl non-compliance wth laws and regulations and the Truslees and olher managemenl are responsible for such internal control as the Trvslees and other management of the Charity determine is necessary lo enable the preparalien ol financial slalemenls that are free frorn material rnisslalemenl, whether due to errors or fraud. including compliance wlh laws and regulalbons. Additionally. lo the inherent limitations ol an a¢Jdil, there is an unavoidable risk that we may nol have delecled some material misslalemen15 in the financial statements, even thou9h we have pioperly planned and performed our au¢Sit In accordance wth auditing standards We are nol respon51ble for preventin9 non-
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EDGWARE ADATH YISROEL CONGREGATION LIMITED A lurther description of our rèsponsibilrties is available on ihe Fifian¢tal Reporting Counril's website at.. http$'ll vMw.frc.Ofg.ukJaudilorsresp¢)nsits'lities. This description lorms part of our audttor's report. Use of our report This feport is made solely lo Ihe charily's tru51ees. as a body. in accordance Vth part 4 of the Charities (A¢unt$ and Reportsl Regulabon$ 2008. Our audit V4vth has been undèrtaken $0 that we might state lo the charity's trustees those malters we are required to slate Io them in an auditors. report and lor no other puipose. To the fullest exlent permitted by law. we do not accepl or assume fesponsibility lo anyone olher than the charity and the charity's trustees as a btsdy. lof our audit work. lor thts ¥eptsrt, or for Ihe opinÉons we have lormed. Glazers Charterèd Aecountant$ Statutory Auditor 843 Finchley Road London NWII 8NA Glazers is eligible for appointrnenl as auditw ol the d)anty by Virtue of its eligikn.lity for appointment as auditor of a company under secbon 1212 of the CompaniesAct 2006.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021 Unrestrlet Designate Restrleted ed funds Total Total funds lunds 2021 2020 Notes Income from: Donati()ns and legaues Charitable activities Inveslmenls Coronavirus support 255.264 68,374 323.638 137,030 11 10,553 351.062 138,574 84S 17,562 137.030 10.286 267 Total ineome 265.561 137.297 68.374 471.232 508,043 end¢tyre Charitable aclivitses 286.477 140.529 86,974 513.920 493,347 Net loutgoing)fincoming resources b•fore transfers (20.9161 13.2321 118,5401 142,688} 14.696 Gloss transfers beNYeen funds 27.659 127.6591 Net in¢omel(expenditure) for th• yearl Net movement in funds 6.743 (3.232) {46,1991 {42,6881 14.696 Fund balances al 1 September 2020 2.600.935 30.947 130,551 2,762.433 2.747.737 Fund balances at 31 Au9USt 2021 2.607.678 27.715 84.352 2.719,745 2.762,433 The slalernenl of financial activilies indudes all gains and losses reccgnised in the year. All income and expenthture ¢Jerive from conb'nung actNities. The statemenl of financial actiwlies also complies 1h the requirements for an income and expendilure a¢¢aunl under the Companies Act 2006.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 AUGUST 2021 2021 2020 Not•s Flxed •$$et$ Tangible assels Current assets OebtOTS Cash at bank and in hand 10 2.765.137 2,766,701 11 61.253 255,297 83.445 291.717 316,550 375.162 Creditors: amounts falling due within one year 13 (65.$431 152.7421 Nel Currenl assets 251.007 322.420 Total assets les5 current liabilitie$ 3.016.144 3,089.121 Credltors: amount$ fallin9 du• after mo¥e than one year 14 (296.3991 1326.688) Net assets 2.719,745 2.762.433 Income funds Reslricled lunds Unrèstri d fund Oesignaled funds General unreslri¢led fund5 Revakjalion reserye 15 84.352 130.551 16 27.715 1.057.678 1.550.000 30,947 1,050.935 1.550,000 2.635.393 2.631.882 2,719.745 2,762.433 The company is enlilled lo the exemption from the audil requirement contained in section 477 01 the Companies Act 2006. for the yeai ended 31 August 2021. allhough an audit has been carrd out urKler section 144 01 the Charities Act 2011. The directors ackntswledge their responsibilities lor complying th the requirements of ihe Companies Act 2006 with fespecl to accounbng records and the preparab.on ol financial staiements. The members have not required the company to oblain an audit of its finan¢ial slalements under the requirements of the CompaniesAcl 2006. for the year in queslion in accordance with secton 476. These financial staternenls have been prepared in accordan thith Ihe provisions applicable to companies subject to the small ¢ompanies regime. The financia sta enls were approved by the Twslees on ... D Waterman Trustee Company Re9istration No. 06S45357 10-
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021 2021 2020 Notès Cash Ilow$ from operating a¢tivitie$ Cash absorbed by operations 19 17.2391 127.9961 Investing activities Pur¢hase of tangible fixed assels Investment InMe receNed 11.5321 11 13,4141 845 Net cash used in investin9 acllvities 11.5211 12,5691 Flnancing activities Repaymeni of bank loans 127.660) 125.029} Net cash used in financing a¢tivitles 127,6601 125.0291 Net decrease in eash and eash. equivalents 136.4201 155.594) Cash and Cash equivalents al beginning ol year 291.717 347,311 CJ5h and cash equivalents at end of yeav 255,297 291,717
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Accounting policies Charlty Informatlon E(Jgware Adath Yisroel Congregatton Limiied is a private Company l¢mited by guarantee ¢ncofporaled in En9land and Wales. The registered orfKe is 265 Hale Lane. Edgware, Middlesex HA8 8NW. 1.1 Accounting convention The financial statements have been ppared in accordance wilh the ¢harity's 9overning do¢ument, Ihe Companie5 Act 2006 and "Accounting and Reporting by Charities.. Stalement ol Recommended Practice applicable to ¢harities preparing their ateOLFnls In accordance %Mlh the Financial Reporting Slandard applicable in the UK and Repvblic of Ireland {FRS 102)" las amended for accountin9 periods commencing from 1 JanLJary 2016). The ¢hanty is a Pubkn"¢ Benefft Entity as defined by FRS 102. The financial statements are pfepaied in sterling. vthich is the lunctional ¢Lwrency ol the charity. Monetary amounts in these finanaal slalements are rourthd to the nearesl £. The financial statements have been prepared under the historical cosl ¢onvention. modified lo include the revalvalion of freehold propertE5 and lo include inveslment woperties and certain finarJaI instruments at fair value. The prinapal accounlin9 pdicies adopted a sel oul below. 1.2 Goin9 concern Al the lime of approving Ihe ffinancial slalemenls. the tsuslees have a reasonable eXPeatn Ihal the charrty has adequate resources to continue in operahonal existence for the foreseeable future. Thus the trusiees continue to adopt Ihe going concem basi5 of a¢¢ounlin9 in pparing the financial statemenls The outbreak of the COWD-19 during 2020 has presented the charity some thallenge5 regaiding fundraising income. In addition. Ihe uncertainty surrounding Bfexit may also impact ihe UK econorny and sources ol income for the charity. These risks are beyond the control of the charity and represent uncertainly lo the income ol the charity in Ihe nexl 12 months and the valuation of ils assets. Howevei Ihe charily has sufficient reserves lo cover tempoiary loss of Income and the Trustees have the ability to exercise ¢onl¥ol ovef the charity's e¥pendilure. Based on this the Trustees believe that il m21n$ appropriate to prepare the financial statements on a golng concern basis. The finanaal statements do nol include any adjustments that woukl result from thi5 basis ol preparation being inappropnale. 1.3 Charltable fynd$ Vnrestricted lunds are available for use al Ihe dtstretion of the trustees in furtherance of thw"r charitable objectives. Restricted funds are subied lo specific dItiOnS by donors as lo how they may te used. The purpose$ nd u5e5 of the restricted ld$ are set out in the notes to Ihe financial statements. Endowmenl (unds a $ubje¢l lo specific condilims by donors that the ca'tal musl be maintained by th¢ charity. 1.4 Income Income is recognised when the charily 15 le9alty ents.ued lo il after any performance conditions have been met, the amounls ¢an be measured relbly. and rt is probable that income will be recelved. Cash donations are recognised on receipt. Other donations are recognised once the charty has been notified of the donaliort. urtless performan¢e conditions requi delerral of the amount. Income tax recoverable in relats'on lo dOna.0S re¢eived undei Gift Aid or deeds of covenant is recognised al the lime ol the donabon. 12-
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Accounting polieles (Continu•d) Legacies are regnIsed on receEpt or otheNKse if the charity has been notified of an impending dislribubon. the amount is known, and receipl is expecled. If the amounl is nol knovm. Ihe legacy is treated as a conlingenl assel. Grants are re¢ogni5ed on receipt. unless performance or olher conditions require delerTal. 1.5 EXpendIre Expenditu is recognised once there is a legal w construckn've obtigalon to Iransler ecoTh)mic benefit lo a third party, it is prObae Ihal a Iransler of economic benefrts VKII be required in settlement. and the amount ol the 019atIOn can be measured reliably. Expenditure is classified by acliwty. The costs of each activity are made up ol the lotal ol direct cosls and shared costs. in¢ludin9 SUPPOrt costs involved in un¢1ertakn"ng ea¢h acts"vity. "rect ¢osls attribulable to a single activity are allocated directty to that actiwty shared costs which contribute to more than one activity and support costs which are not attribL*lable to a single acbvity are apportioned bebveen those aclivilies on a basis consislenl with the use ol resoufces. Cenlral staff cosis are allocated on Ihe basis of time spent. and depreciation charges ale allocaled on the portion of the asset's use. The ¢ost of renovab.ng the property ai 265 Ha Lane Edgware has been capilalised. 1.6 Tangible fix•d a$s•ts Tangible fixed assels are Initially measufed al cost and subsequently measured at C051 rK valuation, net ol depreciation and any impairmenl losse$. Depreciation is ¥ecognised so as to wrhte off the cost Qf Valuat o18s5eiS less Iheir residual values over their useful lives on the lollowin9 bases.. Land and buildirtgs Fixlures, filbng$ & equipmenl 25% 5tMghl line The gain or loss ariyng on the disposal of an assel is determined as the d[lIence beWeen the sale proceeds and Ihe carrying value of the asset, and is recognised in the stalement ol financial aclivilie5. 1.7 lfflpairment rixed ass•ts At each reporting end dale. the tharity reviews the ¢arrying amounts of ils tangible assets lo determine vthether Ihefe is any indication Ihal Ihose asseis have sullered an impaimenl loss. If any su¢h indicalion exists, Ihe Tecovefable amount of the assel is eslimaled in ordei to determine the extent of the impairment los$ (if any). 1.8 Cash and ¢ash equivalents Cash anil cash equivalenis Include cash In hand. depgsils held al call with banks. other short-term liquid investments with original maturities of Ihree nwjnths or less. and bank overdrafts. Bank overdrafts are shown wthin boirowngs in current lialy.litie5. 13
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2021 Aecountlllg policiès (Contintsed) 1.9 Financial instruments The charity has elected to apY the provisions of Seciion 11 '8asic Financial Instruments. and Section 12 'Other Financial Instruments Issues. ol FRS 102 to all of rts finantsal instruments. Financial instruments are recognised in Ihe charily's bajance sheet when the chanty becomes party lo Ihe nlraclual Pfowsion$ of the $tMent. Financial assets and Iiabilshes are offset, with the nel 3mounis pfesenled in the financial slatements. when there is a legalty enlorceable right to set off the recognised amounts and there an intention to settle on a net basi5 Dr lo ieali5e the a55el and sewe the liability stmujtaneously. Basic finahci•l •$$et$ Basic financial assets, whth include debtors and cash and bank balances. are initsalty measured at Ifansa¢lion price includit)g Iransadion costs ano are subsequenly carried ai amortised cost using the effeclive interest method unless the 3rran9ement constitutes a financing transaction, where the transaction is measured al Ihe present value of the future receipts discounted at a market rale ol inle¥esl_ Financial assets classified as receivable wilhtn one year are not amortised. Ba$lc financlal liabilitles Basic financjal liabilities, including creditors and bank loans are initialy fecowised at transaction PTice nless the arrangement cmstitutes a financing Iransaclion. where the debt instrument is measured al the pre5enl value of the future paymenls discounted al a market rate of intere51. Financial liabililies cla$5ified as payable within one year are nol anrtIsed_ Debl instruments ale subsequently carried at amwbsed cost. using the effective interesl rale melhod. Trade uedilors a obligations lo pay for 9oods (K seNces that have been acquired in the ordinary course ol operations from suppliers. Amounls payable are dassified as curnenl liabilib.es il payment is due wthin one year or less. If not. they are presented as non-Gurrenl liabilities. Trade creditors ale recognised initially al transaction price and subsequentty measured at am0.Sed cost using the effective interesl melhod. Dere¢o9nlllon of linanclal Ilabilitles Finanoal liabilities a deC09n1Sed when the chafity's ¢ontraciual obligations expire or are dixhafged oi cancelled. 1.10 Employee benefits The cos1 of any unused holiday entstlement is recogThsed in the period in lch the employee'5 $ervi¢es are received. Termination benefits a reu)gnised immeth"ately as an expense when the d)arity is demonstrably Committed to terminate the erlYment of an empfoyee or to provide terniination benefits. Critieal accounting estimat•s and Audgements In the applicalion of the charity's accounbrvJ rrt)h'¢ies. the Irustees are required lo make judgements. eslimales and assumpb'ons about the carrying amount ol assets and liabilities that are nol Teadily apparent from other sources. The ests"males and assooaled assumplions are based on historical experience and other faclois that are considered lo be relevanl. Actual results may differ from these eslimate$ The estimales and undertyin9 assumptions are rewe**d on an ongoing basis Revisions io accounting esb"males are recognised in the period in Ihe eslimale FS revised where Ihe revision affects only Ihal perir)d. or in Ihe period ol the fewsion and futuie period$ where the ievision affects both currenl and future periods. 14_
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Donations and legacies UnrestrSct Restricted Total Unrestricled Restricted Tolal funds fvnd5 fvnds fvnd$ 2021 2021 2021 2020 2020 2020 0onats.ons and gifts 255.264 6B.374 323.638 267.472 83.590 351.062 Charit•ble activities 2021 2020 Nursery income . Grants 96.628 40.402 81.$83 56,991 137,030 138.574 Inve$tmenls Unrestrlct Unrestricled •d funds funds 2021 2020 Intes1 receivable 11 845 15.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Charitable activities Synagog Nur$ery Restri¢ted funds Total 2021 Total 2020 Staff cost5 Depreciation and ImpalmnI Synagogue expenses Nursery expenses Resliicled fund ¢harilable expense Bank interest 136.042 3,096 145.719 109.970 246,012 3.096 145.719 30.S59 76,977 9,937 272,454 2,713 150,540 28,881 24.634 12,565 30.559 76,977 9,937 284.857 140.529 86,914 512,300 491.787 Share of support cosls (see note 7) 1.620 1,620 1,560 286.477 140.529 86.914 513,920 493,347 EAYC is fortunate enough to have been the beneftoary of a securty grant aggregab'ng £53,122 from the Community Securbty Trust. a registered ch*rty. to assisl in covering the ¢051s of secunng the synago9ue piemises. Support ¢o$ts Support Governan¢ costs e costs 2021 2020 Bas•s of allo¢ation Audit fees 1.620 1.620 1.560 Govemance 1.620 1.620 1.560 Analysed beNveen CharItae aclivilies 1.620 1.620 1.560 Govemance Trustees None of Ihe Iru$lees lof any persons connected 4wth them) received any MUneratIon during the yeai. 16.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Employee$ The average monlNy number ol employees durin9 Ihe year was.. 2021 Nymber 2020 Nymber Synagogue and wetfare Nursery 13 Tolal 16 20 Employment costs 202 2020 Wages and salaries 246,012 272,454 There were no employees who$e annual remuneration was nre than £60.000. 10 Tangible fixed assets Vlxtur•$i T•t•l b¥ildin95 equipth•nt Cost At 1 Seplember 2020 Additions 2,761,597 76.414 1.532 2.838.011 1.532 Al 31 August 2021 2.761,597 77.946 2.839,543 Depreeiation and imp¥lrm*nt At 1 September 2020 DepcIab.0n charged in Ihe year 71.310 3.096 71,310 3.096 Al 31 August 2021 74,406 74,406 Carrylng amount Al 31 Augu512021 2,761,597 3,540 2,765,137 Al 31 August 2020 2.761.597 5.104 2.766,701
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 11 Debtors 2021 2020 Amounts fallln9 due withln one year.. Trade debtors other debtors Prepayments and accrued income 15,820 40.611 4,822 37,293 41.296 4.856 61,253 83,445 12 Loans and overdrafts 2021 2020 Bank loans 324,OS9 351.719 Payable wlhin one year Payable after one year 27.660 296,399 25,031 326,688 The bank loan is secured by a fixed charge over the charity's freehold PfOPWty. 13 Creditors: amounts falling due within one ytar 2021 2020 Notes Bank loans Other taxation and soual secunty Trade crediltsrs Accruals and delerred income 12 27.660 4.236 7.026 26,621 25,031 2,859 7,779 17.073 65.543 52.742 14 Creditors: amounts falllng du• aftey more than one year 2021 2020 Notes 8ank loans 12 296,399 326.688 01 the al)ove balance. £215,453 {2020 £243,113) is repayable after more ihan five years. 18-
EDGWARE ADATH YISROEL CONGREGATIOM LIMITED IA COMPANY LIMITED BY GUARANTEE) NOTES TO ThE FINANCIAL STATEMEKfs (COPIVE0 FOR THE YEAR ENDED 31 AVGUST 2021 IS R•$tVi¢W Iwwl$ 31Au BU19 Funo ace¢X T2edokah Fund t4iOre aha lateapPe Rabbisfuhd for the neerty Generaiand Baby G'mxh Fun 34.157 12.203 (12. 5.V31) 13.6 19.93n 127.$591 17.41e 8.105 2S,523 41,767 7,783 6.658 28.027 7.783 11.975 116.wl 7.783 18.250 627$ 325 7.450 230 119.0421 12.6351 13.rth31 seforT 51epelrFu'. BoardOlDE5 3.514 .7251 1.$69 3.49$ 25.$86 8.674 2.397 13.7641 132,OWI 2,129 ,199 9.231 13.S14 3.523 IS.LYy)I 17.7751 Youlh 12.926 J.527 109.191 83.591 I37.2) (25.0311 130.551 65.374 186.9141 7,6591 84.352 It isihe Inten0 oTthefrustsestrotfvJrthin¢Jeffic4as b•Ke theetde be tettyredto auedt poth cknrytenYjry yo.
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 16 De$bgn#ted lund5 The income lunds ol the ¢harity include the followng designated knd$ whKh have been $el aside oul of nrestricted funds by the Ifuslees for specific purposes.. Movement In funds Balance •1 Incorniny R•s4Mw¢•s BalanG• at 1 Sept¢mb¢f resources expettded 1 5epternb¢r 2010 2020 Movement In funds Incomlng R•$owrces BalanG• *t resotte9 WApended 31 August 2021 EAYC Nursery 43,030 154,048 {166.1311 30.947 137,297 {140.5291 27,715 43,030 154.048 {166.1311 30.947 137,297 1140,5291 27,715 -20-
EDGWARE ADATH YISROEL CONGREGATION LIMITED IA COMPANY LIMITED BY GUARANTEE) MOTES TO TME FINANCIAL STATEMENTS ICOlfflNUED) FOR THE YEAR EMDEO 31 AUGiIST 2021 17 Analy51s of net assets b•Tr Total e luntts d 2021 frmds 2020 2021 2020 2020 2020 FLid baL4nceS at 31 211 anttE$ Tary9e assets CUrrenta$setlIrnbdSTr Lon9term14lt¥ibes 176S.137 138940 9S.3991 2.765.137 2.7t6.701 2S1.Q07 160.922 (2%.3991 1326.6881 2.766.701 322.420 1326.6881 27.715 30.947 130.551 2.807,678 27.715 .352 2.719.745 1.600.935 30.947 130.551 2.762.433
EDGWARE ADATH YISROEL CONGREGATION LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 18 Related party transactions There were no disc105able relaled party transactions durry the year12020- none}. 19 Cash 9enerated from operations 2021 2020 (Deficitllsurpus faf th¢ year 142.688) 14,696 Adiu$lmenls lor-. Investrnenl income recognised in statement ol finarla1 aclivities Depreriation and impairment of lan9ible fixed assets 18451 2.773 3.096 Movemènts in woiking capilal". Decreasellincreasel in debtors Incfeaselldecreasel in Cfedilors 22.192 10,172 128.119) 116,4411 Cash absorbed by operations {7.2391 127.9961 20 Analysis of ¢h¥n9es in net (debtyf¥nd$ C•5h flows At 31 August 2021 S•pternlJ•r Cash at bank and In hand 291.717 136,4201 255.297 Loans falling due wthin one year Loans falling Ikje aftei MO than one year (25,031) {326.688} 12,629} 30.289 127.6601 {296.3991 160.0021 18.7601 {68.762) -22-