2023-08-31-accounts

Charity registration number 1124507 Company reglstratlon numb&r 06525914 IEngland and Wales) SOUTH MANCHESTER SYNAGOGUE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

SOUTH MANCHESTER SYNAGOGUE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees MrAGoodman Mr D J Cowen Mr G RAMatz Mr R Moryoussef Miss F M Hyman Mr A R Kingsley Mr B S Verby Mr P Goldstone Mrs S Isaacs Mr J P Bemslein Mrs W Schweiger Mrs J Segal Charity nurnber 1124507 Company number 06525914 Registered office The Firs Bowdon Allrincham Cheshire WA14 2TE Auditor Xeinadin Audit Limited 116 Duke Street Liverpool L1 5JW Bankers Barclay5 Bank plc Mosley Street Manchester M60 2AU Solicitors Kuil Sleinart Levy 3 Sl Mary's Parsonage Manchester M3 2RD

SOUTH MANCHESTER SYNAGOGUE LIMITED CONTENTS Page Trustees report Stslemenl of Trustees responsibilities Independent auditorfs report Statement of financial activities Balance sheet Stslemenl of cash flows Notes lo the financial statements 10-23

SOUTH MANCHESTER SYNAGOGUE LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2023 The trustees, who are also directors for the purposes of cornpany law, present their report and the financial statements for the charity for the year ended 31 August 2023. The financial slalements have been prepared in accordan￿ wlh the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum & Articles of Association, the Companies Act 2006 and 'Accounling and Reporting by Charities". Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021° las amended for accounting periods commencing from 1 January 20161 Objectlves and actlvltles The objectives of the charity are to cater for the religious requirements generally of the Jewish inhabitants of Manchester and the surrounding districts, and in particular, lo provide its members, and where appropriate for others, the normal facilities of a Synagogue in accordance with orthodox Jewish tradition, principally.. al daily religious services on weekdays, Sabbaths and Holy Days., bl pastoral services,. cl educational facilities including a Sunday School for children", dl facilities for the buri81 of the dead", el facilities for marriage", ft social event5 as appropriate," gi facilities for appropriate private social events," h) support for those in need, where appropriate, through other charitable bodies. In addition, the needs of the wider community are also catered for in terms of our annual civic remembrance seNice. outreach and educational activities for the non-Jewish community eg school visits for local children and partiapalion in interfaith commillees. There were no significant changes in the principal objectives of the Synagogue for the period under review. The directors confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when ieviewing the Charity's objectives and in planning future activities. Achievements and performance Over the past year the Synagogue has run a wide variety of both online and, once Covid restrictions were lifted, face lo face activities for ils members in addition lo formal religious events such as daily. weekly and High Holy Day SeN1￿$. Even though Covid reslri¢ted the Synagogue's adivilies at the end of last year, beginning of this, concerted efforts have been made to revitalise and refresh social and religious activities to pre-pandemic levels. The Synagogue employs an adequate nurnber of pastoral, adminislralive and leaching staff necessary to ensure ils smooth functioning and also relies heavily on the services of unpaid volunteers for backup and other purposes. Financial review During the period under review the Synagogue received income of £574,404 12022". £479,823) with £616,752 12022. £529,260) utilised as direct charitable expendV(ure. The Synagogue had reserves of £4.612.781 12022.. £4.855,9881 at the end of the period. None12022.' £38.2201 of these reserves were invested in income producing investments. The decrease in the Synagogue's reserves is solely due to the deficit for the year. The unrestricted reserves are maintained lo support the continuing activities of the Synagogue. There is no formal policy to maintain a specific level of reserves. The directors constantly monitor the level of reserves lo ensure the Charity can meet rts liabilities. The Charity had reserves al the year end of £4,612,781 12022.. £4,655,968) of which £14,992 12022.. £12,590) were restricted. The Synagogue's principal income comes from members subscriptions. Other activities and events are intended to cover their costs and modest entry prices are charged for social functions. Gift Aid Relief is claimed on eligible donations. The charity has a number of investments in several quoted companies.

SOUTH MANCHESTER SYNAGOGUE LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Overarching risks are discussed al regular Executive and Directors, Board Meetings and where considered necessary appropriate professional advice is obtained where they peiceive this is required for a specific risk or a particularly high risk. The Synagogue lakes out appropnale Insurances lo protect Its assets and also lo protect it from third party liability claims. Child protection risks are primarily deatt with by the Directors ￿rith responsibility for Youth and Education. The Synagogue maintains a Child Prolecb'on policy covering all areas of the Synagogue's activities involving young people and is reviewed annually by the Board. Procedures include Disclosure and Barring Service checks on all staff who work wth children. Physical security risks to the building and ils occupants are man8ged by the Security Committee which works closely with the national organisation, the Community Security Trust, and the local Police. This Committee organises security at services and events. Financial risks are managed by the Treasurer in consullalion with the Finance Committee which Consists of past treasurers and directors. The Charty has established a sound financial basis upon which lo build for the future. The directors continue to seek further contributions and donations to help achieve ils objectives now and in the future. Structure. govemance and management The company was incorpDrated on 6 March 2008 and commenced its activities on 1 September 2008. The company was registered with the Charities Commission on 16 June 2008 and is governed by its Memorandum and Articles of Association. The company is limited by guarantee. The charity has a Board of Directors, which delegates the day-to-day responsibility of the management and control ol the charity lo ils Executive. The President, Secretary, Treasurer and Wdrden who sil on the Board of Directors conslilule the Executive and are elected at the Annual Meeting. All expenditure is approved by the Board of Directors acting as a body and the directors ensure that full accounting records are maintained with management accounting records lo ensure that all criteria for spending the funds of the Charty are fjjlly met. Appointment of the dirèctors is by election al the Annu81 Meeting of the charity. New directors are required to undergo an induction programme including an introduction lo the objectives, scope and policies of the charity, Charity Commission information and director responsibilities. MrAGoodman Mr D J Cowen MrGRAMatz Mr R Moryoussef Miss F M Hyman Mr A R Kingsley Mr B S Verby Mr P Goldstone Mrs S Isaacs Mr J P Bemslein Mrs W Schweiger Mrs J Segal Auditor The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

SOUTH MANCHESTER SYNAGOGUE LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 Disclosure of infomiation to auditor Each of the Trustees has Confimied that there is no information of which they are aware which is relevant to the audit. bul of which the auditor is unaware. They have further confirmed that they have tsken appropriate steps to identify such relevant information and lo establish that the auditor is aware of such information. Small Company Provisions This report has been prepared in accordance wth the provisions applicable lo companies enlilled lo the small companies exemption. The Trustees report was approved by the Board of Directors. Mr D J Cowen Trustee Dated. 11 April 2024

SOUTH MANCHESTER SYNAGOGUE LIMITED STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 The Trustees, who are also the directors of South Manchester Synagogue Limited for the purpose of company law, are responsible for preparing the Trustees Report and the financial slalements in accordance wth appli¢8ble law and United Kingdom Accounting Standards (United ￿"ngdorn Generally Accepted Accounting Praclicel. Company Law requires the Trustees to prepare financial slalements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resour￿$ and application of resources. including the income and expenditure. of the charitable company for that year. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently", observe the methods and principles in the Charities SORP", make judgements and eslimales that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disdosed and explained in the financial statements,. and prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting rewrds that disclose with reasonable ac¢ura¢y al any lime the financial position of the charity and enable them lo ensure that the fi'nancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Under company law, the directors musl not approve the finan¢i81 slalements unless they are satisfied that they give true and fair view of the slate of affairs of the company and the income and expènditure for the period.

SOUTH MANCHESTER SYNAGOGUE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF SOUTH MANCHESTER SYNAGOGUE LIMITED Opinion We have audited the financial slalements of South Manchester Synagogue Limited (the 'charity'l for the year ended 31 August 2023 which comprise the slalement of financial activities, the balan￿ sheet, the slalement of ¢ash flows and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable the UK and RepublK of Ireland Iuniled Kingdom Generally Accepted Accounting Practice). In our opinion, the financial slatemenls.. give a true and fair view of the slate of the charitable company's affairs as 81 31 August 2023 and of its incoming resources and application of resources, including r(s income and expenditure, for the year then ended., have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audilorts ￿spOnsibl11t￿es for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical standard, and we have fulfilled our other ethical responsibilities in accordance wth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalements, we have conduded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the worf( we have performed, we have not identified any material Ljncertainties relating to events or conditions that. individually Dr collectively, may cast significant doubl on the charity's ability to continue as a going concern for a period of at least bNelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wrth respect lo going concem are described In the relevant sedions of this report. Other inforniation The other information comprises the information included in the annual report other than the financial slalements and our auditor's report Ihereon. The Trustees are responsible for the other information contained ￿rithin the annual report. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otherwise explicitly slated in our report, we do not express any fomi of assuran￿ conclusion thereon. Our responsibility is to read the Other information and, in doing so, consider whether the other information is materially inconsislenl wth the finanaal slalements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent m8leri81 misstslemenls, we are required to determine whether this gives rise to 8 material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees report for the financial year for which the financial slalements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial slalements., and the directors. report included within the Trustees report has been prepared in accordan￿ wth applicable legal requirements.

SOUTH MANCHESTER SYNAGOGUE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SOUTH MANCHESTER SYNAGOGUE LIMITED Matters on which are required to report by exception In the light of the knowledge and understsnding of the charity and its environment obtained in the course of the audit. we have not identified material misststemenls in the directors, report included wthin the Trustees report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been re￿iVed from branches not visited by us,. or the financial slalements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the Information and explanations we require for our audit, or the Trustees were not entitled lo prepare the financial statements in accordan￿ with the small Companies regime and take advantage Df the small companies, exemptions in preparing the Trustees report and from the requirement lo prepare a strategic report. Respon$lbllltles of Tru$tges As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a Itue and fair view, and for such Intemal control as the Trustees determine Is necessary lo enable the preparation of financial slalemenls that are free from material misslalement, whether due lo fraud or error. In preparing the financial stslemenls, the Trustees are responsible for assessing the Charity's ability lo continue as a going Concern, disclosing, as applicable, matters related lo going Concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitsble company or to cease operations, or have no realistic altemative but to do so. Audltorfs rasponslbllltles for tho audlt of the flnanclal statoments Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstslemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected lo influence the e¢onomi¢ decisions of users taken on the basis of these financial slatemenls. The e*(ent lo which our procedures are capable of detecting irregularities, including fraud, is detailed below. A further description of our responsibilities is available on the Financial Reporting Council's website al.. https'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's report. Use of our report This report Is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those mallers we are required lo stsle to them in an audito¢s report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report, or for the opinions we have formed. Andrew James Taylor Isenior Statutory Auditor) for and on behalf of Xeinadin Audit Limited Accountants and Statutory Auditors 116 Duke Street Liverpool L15JW

SOUTH MANCHESTER SYNAGOGUE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2023 Unrestrlcted Restrlcted funds funds 2023 2023 Total Unrestrfcted Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and lègacies Charitable activities Other trading activities Investments 342,054 72,520 ,983 379,037 72,520 354,116 46,245 43,476 397,592 46,245 109,043 13.804 109,043 13,804 33,705 1,481 33,705 1,481 Totsl Income 537,421 36,983 574,404 435,547 43,476 479,023 Ex enditure on- Charitable activities 582,171 34,581 616,752 485,857 43.403 529,260 Net gainslllossesl on investments 11 18391 {8391 Net loutgoingllincoming resources 145,5891 2,402 143,1871 150,3101 73 150,2371 Other recognised gains and losses Revaluation of tsngible fixed assets 502,392 502,392 Net movement In funds 145,5891 2,402 143,1871 452,082 73 452,155 Fund balances al 1 September 2022 4,643,378 12,590 4,655,968 4,191,296 12.517 4,203,813 Fund balances at 31 August 2023 4,597,789 14,992 4,612,781 4,643,378 12,590 4,655,968 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

SOUTH MANCHESTER SYNAGOGUE LIMITED BALANCE SHEET ASAT31 AUGUST2023 2023 2022 Notes Flxed assets Tangible assets Investments 13 14 5,034,237 5,069,488 38,220 5,034,237 5,107,708 Current assets Debtors Cash at bank and in hand 15 97,281 51,021 79,958 72,962 148,302 152,920 Creditots- amounts falling due within one year 17 1164,1911 1164,9331 Net current liabilities 115,8891 112,0131 Total assets less current liabilities 5,018,348 5,095,695 Creditors: amounts falling due after more than one year 18 1405,5671 1439,7271 Net assets 4,612,781 4,655,968 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds Revaluation reserve 19 14,992 12.590 20 585,788 3,510,791 501,210 593,658 3,527,285 522,435 4,597,789 4,643,378 4,612,781 4,655,968 The financial stslemenls were approved by the Trustees on 11 April 2024 Mr D J Cowen Trustee Company rgglstratlon number 0652S914

SOUTH MANCHESTER SYNAGOGUE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Notes Cash flows from operatlng actlvltles Cash (absorbed byllgeneraled from operations 24 {37,3e41 19,093 Invg$tlng a￿1¥111￿$ Purchase of tangible fixed assets Proceeds on disposal of investrnenls Interest received 12,4191 37,381 13,804 110,1101 1,481 Net cash generated fromllus&d Inl investing activities 48,766 18,629} Flnanclng actlvltle$ Repayment of bank loans 133,3431 132,5291 Net ¢a$h u$9d In flnan¢lng adlvlt19$ 133,3431 132.529) Net decrease In cash and cash equlvalents 121,9411 122,0651 Cash and cash equivalents at beginning of year 72,962 95,027 Cash and cash equivalents at end of year 51,021 72,962

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 Accounting policies Charity inforniation South Manchester Synagogue Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Firs, Bowdon, Altrincham, Cheshire. WA14 2TE. 1.1 Accounting convention The financial statements have been prepared in ac¢ordance with the charity's Memorandum & Articles of Association. the Companies Act 2006 and 'Accounling and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting periods commencing trom 1 January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in slerfing, which is the functional currency of the charity. Monetary amounts in these financial ststemenls are rounded to the nearest £. The financial slalements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going concern Al the time of approving the financial stslemenls, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the Trustees ntinue to adopt the going concern basis of accounting in preparing the financial ststemenls. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the Trustees In furtherance of their charitable objectives unless the funds have been designated for other purposes. The investment revaluation reserye shows the accumulated revaluations on the investments to dale. The decorations and repairs reserve relates to fijnds which are put aside to maintain and repair the fabric of the building. The Synagogue has a burial fund whereby parb"cipaling members contribute and on death their burial fees are covered. Reslricled ftjnds are subject lo specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the finanryal statements. Al funds are unrestricted with the exception of the Charities Fund, Tzedakah Fund and Youth Fund which are restricted. The Charities Fund and Tzedakah Fund relate lo monies Collected specifically for onward donation. The Youth Fund relates lo monies lo be spent on Youth activities only. 1.4 Income Income is recognised whèn the charity Is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and il is probable that Income will be received. Donations and gifts represent amounts received during the year. Grants received are recognised as monies are received. This is ongoing throughout the year as expenses are incurred for which the grants are received. 10-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles Icontlnuedl Subscriptions represent amounts receivable for the accounting year. Any amounts received in advan￿ for future years are deferred and released in following years as appropriate. Investment income is recognised on a receivable basis. 1.5 Expenditure Resour￿$ expended are included in the accounts when the goods or services are received. This applies lo expenditure in all categories on the SOFA. The accounts are prepared on an accruals basis. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impaimient losses. Depreaalion is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings Equipment 1 Oh slraighl line on the Synagogue building only 25Qh reducing balance 25°/0 reducing balance Depreciation on land and buildings is on the Synagogue building only. The land element and residential properties used by the Rabbis are not depreciated. 1.7 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nel incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets Al each reporting end date, the charity review5 the carrying amounts of ils tsngible assets to determine whether there Is any indication that those assets have suffered an impaimienl loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order lo determine the extent of the impaimienl loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al c411 wlh banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown wthin borrowings in current liabilities. 1.10 Financial instruments Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wrth the net amounts presented In the financial slatemenls, when there Is a legally enforceable right to sel off the recognised amounts and there is an Intention to sellle on a nel basis or lo ￿alIse the asset and settle the liability simultaneously.

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Accountlng pollcles Icontlnuedl Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement conslilules a financing transaction, where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. BasiTC financial IITabilities Basic financial liabilities, including Creditors and bank loans are initially recognised al transaction price unless the arrangement ¢onslilules a financing transaction. where the debt instrument is measured al the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequenuy carried al amortised cost, using the effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade Creditors are re¢ognised initially al transaction price and subsequenuy measured al amortised cost using the effective interest method. Derecognltlon of flnanclal Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.11 Employee benefits The cost of any unused holiday enlidement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the Charity is demonstrably committed lo lerminale the employment of an employee or to provide termination benefits. 1.12 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting ostimatss and judgements In the application of the Charity's a¢counling policies. the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other soU￿S. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these eslimales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revisèd where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 12-

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SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Charitable activitie5 Charltsble Charftable Income Income 2023 2022 Wedding fees Burial income Other income 1641 72,287 297 715 44,977 553 72,520 46,245 Other trading activities Unrestricted Unrestricted funds funds 2023 2022 Fundraising events 109,043 33,705 Investments Unrestricted Unrestricted funds funds 2023 2022 Rental income Income from listed investments 12,395 1,409 1,481 13,804 1,481 14-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Charitable activitie5 Charitable Charitable Expenditure Expenditure 2023 2022 Stsff Costs Depreciation and impaimienl Rates & water Light & heat Repairs & maintenance Insurance Laundry & cleaning Motor vehicle expenses Travel & subsistence Affiliation fees Telephone Printing, postage & stationery Burial expenses Security Rabbi expenses Youth Rabbi expenses Miscellaneous Event costs Youth Events Other charitable expenditure 182,714 37,670 2,706 22,793 42,415 8,480 19,540 390 403 2,535 219 13,163 74,841 24,230 10,594 8,762 2,605 640 156,945 202,227 40,677 2,458 14,997 42,643 9,257 16,206 1,444 3,139 12,686 24,151 21.747 9,233 3,903 2,416 1,946 114.608 611,645 523,738 Share of governance costs (see note 81 5,107 5,522 616,752 529,260 Analysis by fund Unreslricled funds Restricted funds 582,171 34,581 485,857 43,403 616,752 529,260 15-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Support costs Support Govemance costs costs 2023 2022 Audit fees 5,107 5,107 5,522 5,107 5,107 5,522 Analysed be￿een Charrtable activits.es 5,107 5,107 5,522 Trustees None of the Trustees lor any persons Connected wth them) received any remuneration or benefits from the charity during the year. None of the Trustees have had any expenses reimbursed during the year. 10 Employees The average monthly number of employees during the year was". 2023 Number 2022 Number Rabbis Chazan Office staff Educational staff Total Employment costs 2023 2022 Wages and salaries Social security wsts Other pension costs 169,916 9,047 3,751 197,795 623 3,809 182,714 202,227 There were no employees whose annual remuneration was more than £60,000. 16-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 11 Net gainslllossesl on investments Unrestricted funds Total 2023 2022 Gainlllossl on sale of investments 18391 12 Taxallon The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains A¢t 1992 to the extent that these are applied lo ils charitable objects. 13 Tanglble flxed assets Freehold land Flxtures and and bulldlng8 fittlngs Equlpment Totsl Cost Al 1 September 2022 Additions 5,325,715 1,790 99,856 629 23,029 5,448,600 2,419 Al 31 August 2023 5,327,505 100,485 23,029 5,451,019 Depreclatlon and Impalrment Al 1 September 2022 Depreaation charged in the year 298,244 27.088 62,871 9,334 17,997 1,248 379,112 37,670 Al 31 August 2023 325,332 72,205 19,245 416,782 Carrying amount Al 31 August 2023 5,002,173 28,280 3,784 5,034,237 Al 31 August 2022 5,027,471 36,985 5,032 5,069,488 Land and buildings with a nel book value of £998,790 were revalued al 31 August 2022 by Homemove Sales and Lettings to £1.5m based on recent market transactions for similar properties. The Trustees believe this is a reasonable valuation for the properties at 31 August 2023. 14 Flxed assgt Investmgnts 17-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 14 Flxed asset Investments Icontlnuedl Llsted Investments Cost or valuation Al 1 September 2022 & 31 August 2023 38,220 Impalrment At 1 September 2022 Disposals 38,220 Al 31 August 2023 38,220 Carrying amount Al 31 August 2023 Al 31 August 2022 38,220 15 Debtors 2023 2022 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 41,987 35,000 20.294 33,293 35,000 11,665 97,281 79,958 16 Loans and overdrafts 2023 2022 Bank loans 438,912 472,255 Payable wthin one year Payable after One year 33,345 405,567 32,528 439,727 Amounts included above which fall due after five years.. Payable by inslalmenls 275,064 297,925 18-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 16 Loans and overdrafts Icontlnuedl There are two secured loans, both are secured on the properties to which they relate included within fixed assets. The first original loan value was £250,000. At the end of the year the percentage of loan outstanding lo the value of the asset included in the accounts was 15°k. This loan Is a commercial mortgage that is due to finish in July 2033. It is a flexible mortgage wth variable monthly repayments. The cutrenl interest rate on this loan is 4.920h. The second original loan value was £310,000. Al the end of the year the percentsge of loan oulslanding lo the value of the asset included in the accounts was 510kn. This loan is a commercial mortgage that is due to finish in June 2038. It is a fixed rate mortgage wth fixed monthly payments for 10 years. The current interest rate is 4.92%. 17 Crgdltors: amounts falllng du9 wllhln one year 2023 2022 Notes Bank loans Other tsxation and social security Trade creditors Other creditors Accruals and deferred income 16 33,345 2,338 67,697 24 60,787 32,528 4,365 38,067 89,973 164,191 164,933 The following liabilities disclosed under creditors falling due within one year are secured by the company.. Bank loans and overdrafts- £23,40712022.. £32,528) 19-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 18 Creditors: amounts falling due after rnore than one year 2023 2022 Notes Bank loans 405,567 439,727 The followng liabilities disclosed under creditors falling due over one year are secured by the company.. Bank loans and overdrafts- £386,27612022". £439,727). Included within creditors due over 1 year are amounts due on a commercial mortgage due lo finish in July 2033, this is a flexible mortgage with variable rale monthly loan repayments and is secured on a property induded within the accounts. The interest rale payable on this loan is 3.80kn, being base rate plus 3.550kn. A further commercial mortgage is also included in creditors due over one year. This is due to finish in May 2038 and is a flexible mortgage with variable rate monthly loan repayments and is secured on a propety induded within the accounts. The interest rale payable on this loan is 5.09°A. Included within creditors due after more than one year is an amount of £275,06412022". £297,925) in respect of liabilities repayable by instslmenls which fall due for payment after more than 5 years from the reporting dale. Loan interest of £21,51812022'. £21,420) is included in the accounts. 19 R&strlcted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for speryfic purposes.. Movement in funds Incoming Re$tsurtes Balance at resources expended 1 Septembèr 2022 Movement in funds Incoming RÈsourtes resources expended Balance at 1 September 2021 Balance al 31 August 2023 Charf(ies Fund Tzedakah Fund Youth Activty Fund 4,772 28,559 128,7771 4,554 19,654 116,7181 7,490 1,198 14,917 114,6261 1,489 7,445 17,2941 1,640 6,547 6,547 16851 5,862 12,517 43,476 143,4031 12,590 27,099 124,6971 14,992 -20-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 21 Analysis of net assets between funds Unrestrlcted RestrlGted Funds Funds 2023 2023 Total UnreStrl￿ed Restrlcted Funds Funds 2022 2022 Totsl 2023 2022 Fund balances at 31 August 2023 are represented by.. Tangible assets Investments Current assetsllliabililiesl Long temi liabilities 5,034,237 5,034,237 5,069,488 38,220 115,8891 124,6031 1405.5671 1439.7271 5,069,488 38,220 112,0131 1439,7271 130,8811 1405,5671 14,992 12,590 4,597,789 14,992 4,612,781 4,643,378 12,590 4,655,968 22 Operating lease commitments Al the reporting end dale the charity had oulslanding Commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2023 2022 thin one year Between two and five years 2.199 678 2,199 2,877 2,877 5,076 During the year the company paid £2,19912022'. £2,199) in lease payments included as an expense in the accounts. 23 Related party transactions There were no disclosable related party transactions during the ye8r12022 - none). -22-

SOUTH MANCHESTER SYNAGOGUE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2023 Cash generated from operations 2023 2022 IDeficitl/surpus for the year 143,1871 150,2371 Adjustments for". Investment income recognised in statement of financial activities Loss on disposal of investments Depreciation and impairment of tangible fixed assets 113,8041 839 37,670 {1,4811 40,677 Movements in working capital.. Ilncreaselldecrease in debtors {Decreasellincrease in creditors 117.3231 11,5591 11,948 18,186 Cash labsorb9d byllggn9ratgd from op9ratlon$ 137.3641 19,093 25 Analysls of changes In net Idebtllfunds At 1 September 2022 Cash flows At 31 August 2023 Cash at bank and in hand 72,962 121,9411 51,021 Loans falling due within one year Loans falling due after more than one year 132,5281 1439,7271 18171 34,160 133,3451 1405,5671 1399,2931 11,402 1387,8911 -23-

South Manchester Synagogue - for auditor signature

Final Audit Report

2024-05-23

Created: 2024-05-23 By: Topping Partnership ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAAqSLnwxsZ1WXfJ05GXUPCTqF0STAOaj1I

"South Manchester Synagogue - for auditor signature" History

• Document created by Topping Partnership ([e-mail])

2024-05-23 - 3:12:26 PM GMT

Document emailed to [e-mail] for signature

• 2024-05-23 - 3:13:50 PM GMT

• Email viewed by [e-mail]

• 2024-05-23 - 3:16:21 PM GMT

• Signer [e-mail] entered name at signing as A J Taylor 2024-05-23 - 3:17:26 PM GMT

• Document e-signed by A J Taylor ([e-mail]) Signature Date: 2024-05-23 - 3:17:28 PM GMT - Time Source: server

Agreement completed.

2024-05-23 - 3:17:28 PM GMT