2025-08-31-accounts

Charity registration number 1124507 (England and Wales) Company registration number 06525914

SOUTH MANCHESTER SYNAGOGUE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

SOUTH MANCHESTER SYNAGOGUE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr A Goodman
	Mr G R A Matz
	Mr R Moryoussef
	Mr P Goldstone
	Mrs S Isaacs
	Mr J P Bernstein
	Mrs W Schweiger
	Mrs J Segal
	Mr D Basger	(Appointed 23 January 2025)
	Mrs A Hargreaves	(Appointed 12 January 2026)
Charity number (England and Wales)	1124507
Company number	06525914
Registered office	The Firs
	Bowdon
	Altrincham
	Cheshire
	WA14 2TE
Auditor	Xeinadin Audit Limited
	First Floor, The Foundation
	Herons Way
	Chester Business Park
	Chester
	Cheshire
	CH4 9GB
Bankers	Barclays Bank plc
	Mosley Street
	Manchester
	M60 2AU
Solicitors	Kuit Steinart Levy
	3 St Mary's Parsonage
	Manchester
	M3 2RD

SOUTH MANCHESTER SYNAGOGUE LIMITED

CONTENTS

	Page
Trustees report	1 - 3
Independent auditor's report	4 - 7
Statement of financial activities	8
Balance sheet	9
Statement of cash flows	10
Notes to the financial statements	11 - 22

SOUTH MANCHESTER SYNAGOGUE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees, who are also directors for the purposes of company law, present their report and the financial statements for the charity for the year ended 31 August 2025.

The financial statements have been prepared in accordance with 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 “Accounting 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

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, to provide its members, and where appropriate for others, the normal facilities of a Synagogue in accordance with orthodox Jewish tradition, principally: a) daily religious services on weekdays, Sabbaths and Holy Days; b) pastoral services; c) educational facilities including a Sunday School for children; d) facilities for the burial of the dead; e) facilities for marriage; f) social events as appropriate; g) 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 service, outreach and educational activities for the non-Jewish community eg school visits for local children and participation in interfaith committees.

There were no significant changes in the principal objectives of the Synagogue for the period under review.

The directors confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's objectives and in planning future activities.

The charity relies on volunteers to support the delivery of its activities and services. The trustees are grateful for the considerable contribution made by volunteers throughout the year.

Achievements and performance

Over the past year the Synagogue has run a wide variety of social and recreational activities for its members in addition to formal religious events such as daily, weekly and High Holy Day services. The Executive and Board continue to make concerted efforts to maintain vibrant social and religious activities for all age groups.

The Synagogue employs an adequate number of pastoral, administrative and teaching staff necessary to ensure its 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 £587,431 (2024: £544,020) with £542,271 (2024: £540,279) utilised as direct charitable expenditure. The Synagogue had reserves of £4,661,682 (2024: £4,616,522) at the end of the period. None (2024: None) of these reserves were invested in income producing investments. The increase in the Synagogue's reserves is solely due to the surplus for the year.

The unrestricted reserves are maintained to 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 to ensure the Charity can meet its liabilities.

The Charity had reserves at the year end of £4,661,682 (2024: £4,616,522) of which £38,498 (2024: £25,130) were restricted.

The charity’s policy is to maintain unrestricted free reserves at a level considered appropriate by the trustees to support the charity’s ongoing activities and commitments, and to provide financial stability in the event of unexpected reductions in income or unforeseen expenditure.

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.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Overarching risks are discussed at regular Executive and Directors' Board Meetings and where considered necessary appropriate professional advice is obtained where they perceive this is required for a specific risk or a particularly high risk. The Synagogue takes out appropriate insurances to protect its assets and also to protect it from third party liability claims.

Child protection risks are primarily dealt with by the Directors with responsibility for Youth and Education. The Synagogue maintains a Child Protection 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 with children.

Physical security risks to the building and its occupants are managed 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 consultation with the Finance Committee which consists of past treasurers and directors.

The Charity has established a sound financial basis upon which to build for the future. The directors continue to seek further contributions and donations to help achieve its objectives now and in the future.

The trustees intend to continue the charity’s existing activities in support of its charitable objectives. The charity will continue to monitor its financial position and seek opportunities to develop and improve its services where appropriate.

Structure, governance and management

The company was incorporated 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 of the charity to its Executive.

The President, Secretary, Treasurer and Warden who sit on the Board of Directors constitute 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 to ensure that all criteria for spending the funds of the Charity are fully met.

Appointment of the directors is by election at the Annual Meeting of the charity.

New directors are required to undergo an induction programme including an introduction to the objectives, scope and policies of the charity, Charity Commission information and director responsibilities.

Mr A Goodman Mr D J Cowen Mr G R A Matz Mr R Moryoussef Mr A R Kingsley Mr B S Verby Mr P Goldstone Mrs S Isaacs Mr J P Bernstein Mrs W Schweiger Mrs J Segal Miss F M Hyman Mr D Basger Mrs A Hargreaves

(Resigned 23 January 2025)

(Resigned 12 January 2026) (Resigned 12 January 2026)

(Resigned 26 November 2024) (Appointed 23 January 2025) (Appointed 12 January 2026)

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SOUTH MANCHESTER SYNAGOGUE LIMITED

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees consider the board of trustees and the senior management team to comprise the key management personnel of the charity. The pay and remuneration of senior staff is reviewed annually and normally benchmarked against similar roles within the charitable sector to ensure that remuneration levels remain reasonable and appropriate.

Statement of Trustees responsibilities

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 statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources 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 estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial 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 must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the income and expenditure for the period.

Auditor

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The Trustees report was approved by the Board of Directors.

Mr A Goodman

Trustee Dated: 29 May 2026

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SOUTH MANCHESTER SYNAGOGUE LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF SOUTH MANCHESTER SYNAGOGUE LIMITED

Opinion

We have audited the financial statements of South Manchester Synagogue Limited (the ‘charity’) for the year ended 31 August 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash 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 in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with 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 Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities 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 with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements 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 material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies 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 statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and

• the directors' report included within the Trustees report has been prepared in accordance with applicable legal requirements.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SOUTH MANCHESTER SYNAGOGUE LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements 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 to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees report and from the requirement to prepare a strategic report.

Responsibilities of Trustees

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 true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SOUTH MANCHESTER SYNAGOGUE LIMITED

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

• Enquiry of management and those charged with governance around actual and potential litigation and claims;

• Reviewing minutes of meetings of those charged with governance;

• Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;

• Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the charity is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the charity’s license to operate. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF SOUTH MANCHESTER SYNAGOGUE LIMITED

Use of our report

This report is made solely to 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 state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent 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.

Stephanie Baker BA (Hons) ACA (Senior Statutory Auditor) for and on behalf of Xeinadin Audit Limited

29 May 2026

Statutory Auditor

First Floor, The Foundation Herons Way Chester Business Park Chester Cheshire CH4 9GB

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SOUTH MANCHESTER SYNAGOGUE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 3 355,078 36,310 Charitable activities 4 73,197 - Other trading activities 5 102,332 - Investments 6 20,514 - Total income 551,121 36,310 Expenditure on: Charitable activities 7 514,337 27,934 Total expenditure 514,337 27,934 Net income 36,784 8,376 Transfers between funds (4,992) 4,992 Net movement in funds 9 31,792 13,368 Reconciliation of funds: Fund balances at 1 September 2024 4,591,392 25,130 Fund balances at 31 August 2025 4,623,184 38,498	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 391,388 368,813 32,584 73,197 32,438 - 102,332 91,957 - 20,514 18,228 - 587,431 511,436 32,584 542,271 517,834 22,445 542,271 517,834 22,445 45,160 (6,398) 10,139 - - - 45,160 (6,398) 10,139 4,616,522 4,597,790 14,991 4,661,682 4,591,392 25,130	Total 2024 £ 401,397 32,438 91,957 18,228
		544,020 540,279
		540,279
		3,741 -
		3,741 4,612,781
		4,616,522

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2025

Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets excluding pension liability Net assets The funds of the charity Restricted income funds 19 Unrestricted funds - general Unrestricted funds - Revaluation Reserve	2025 £ £ 4,969,864 87,387 102,167 189,554 (156,200) 33,354 5,003,218 (341,536) 4,661,682 4,661,682 38,498 4,121,974 501,210 4,661,682	2024 £ £ 5,000,653 83,393 44,416 127,809 (130,160) (2,351) 4,998,302 (381,780) 4,616,522 4,616,522 25,130 4,090,182 501,210 4,616,522

The financial statements were approved by the Trustees on 29 May 2026

Mr A Goodman Trustee

Company registration number 06525914 (England and Wales)

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SOUTH MANCHESTER SYNAGOGUE LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Notes Cash flows from operating activities Cash generated from operations 24 Investing activities Purchase of tangible fixed assets Investment income received Net cash generated from investing activities Financing activities Repayment of bank loans Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2025 £ (2,918) 20,514 (34,822)	£ 74,977 17,596 (34,822) 57,751 44,416 102,167	2024 £ (1,764) 18,228 (28,566)	£ 5,497 16,464 (28,566) (6,605) 51,021 44,416

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SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

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 Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum & Articles of Association, the Companies Act 2006 and “Accounting 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. The investment revaluation reserve shows the accumulated revaluations on the investments to date. The decorations and repairs reserve relates to funds which are put aside to maintain and repair the fabric of the building. The Synagogue has a burial fund whereby participating members contribute and on death their burial fees are covered.

Restricted funds are subject to 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 financial statements. All 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 to monies collected specifically for onward donation. The Youth Fund relates to monies to be spent on Youth activities only.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 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.

Subscriptions represent amounts receivable for the accounting year. Any amounts received in advance for future years are deferred and released in following years as appropriate.

Investment income is recognised on a receivable basis.

1.5 Expenditure

Resources expended are included in the accounts when the goods or services are received. This applies to expenditure in all categories on the SOFA. The accounts are prepared on an accruals basis.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

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 impairment losses.

Depreciation 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 1% straight line on the Synagogue building only Fixtures and fittings 25% reducing balance Equipment 25% 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 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 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, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to 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 recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting 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 sources. 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 estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised 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.

3 Income from donations and legacies

Unrestricted Restricted funds funds 2025 2025 £ £ Donations and gifts 34,338 36,310 Membership fees 259,984 - Gift Aid 60,756 - 355,078 36,310	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 70,648 36,072 32,584 259,984 270,361 - 60,756 62,380 - 391,388 368,813 32,584	Total 2024 £ 68,656 270,361 62,380
		401,397

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SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 Income from charitable activities

		Unrestricted	Unrestricted
		funds	funds
		2025	2024
		£	£
	Burial income	73,197	32,438
	Analysis by fund
	Unrestricted funds - general	73,197	32,438
5	Income from other trading activities
		Unrestricted	Unrestricted
		funds	funds
		2025	2024
		£	£
	Fundraising events	102,332	91,957
6	Income from investments
		Unrestricted	Unrestricted
		funds	funds
		2025	2024
		£	£
	Rental income	19,600	17,300
	Income from listed investments	914	928
		20,514	18,228

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SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Charitable activities

	Charitable		Charitable
	Expenditure	Expenditure
	2025		2024
	£		£
Staff Costs	189,973		178,751
Depreciation and impairment	33,707		35,348
Rates & water	2,287		815
Light & heat	43,590		30,702
Repairs & maintenance	25,289		20,802
Insurance	8,828		9,328
Laundry & cleaning	19,607		22,347
Travel & subsistence	2,270		2,303
Affiliation fees	3,154		2,530
Telephone	946		875
Printing, postage & stationery	7,151		12,392
Burial expenses	46,782		36,149
Security	18,759		24,219
Rabbi expenses	10,262		9,875
Miscellaneous Event costs	24,179		1,869
Youth Events	(504)		(845)
Other charitable expenditure	100,897		147,225
	537,177		534,685
Share of governance costs (see note 8)	5,094		5,594
	542,271		540,279
Analysis by fund
Unrestricted funds - general	514,337		517,834
Restricted funds	27,934		22,445
	542,271		540,279

8 Support costs allocated to activities Governance costs Analysed between: Audit Fees	2025 £ 5,094 5,094	2024 £ 5,594
		5,594

• 15 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

9	Net movement in funds	2025	2024
		£	£
	The net movement in funds is stated after charging/(crediting):
	Fees payable for the audit of the charity's financial statements	5,094	5,594
	Depreciation of owned tangible fixed assets	33,707	35,348

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

None of the Trustees have had any expenses reimbursed during the year.

11 Employees

The average monthly number of employees during the year was:

Rabbis Office staff Educational staff Total Employment costs Wages and salaries Social security costs Other pension costs	2025 Number 1 2 1 4 2025 £ 181,023 6,383 2,567 189,973	2024 Number 1 2 1
		4
		2024 £ 167,431 8,354 2,966
		178,751

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The aggregate compensation of key management personnel in the year was £nil (2024: £nil)

12 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

• 16 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

13 Tangible fixed assets

Freehold land and buildings Fixtures and fittings £ £ Cost At 1 September 2024 5,327,505 102,249 Additions - 1,589 At 31 August 2025 5,327,505 103,838 Depreciation and impairment At 1 September 2024 352,420 79,517 Depreciation charged in the year 27,088 5,919 At 31 August 2025 379,508 85,436 Carrying amount At 31 August 2025 4,947,997 18,402 At 31 August 2024 4,975,085 22,732	Equipment £ 23,029 1,329 24,358 20,193 700 20,893 3,465 2,836	Total £ 5,452,783 2,918
		5,455,701
		452,130 33,707
		485,837
		4,969,864
		5,000,653

Land and buildings with a net book value of £998,790 were revalued at 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 2025.

Had the revalued properties been included at historical cost, the carrying amount at 31 August 2025 would have been £988,790 (2024: £998,790).

14 Debtors

Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income	2025 £ 40,290 35,000 12,097 87,387	2024 £ 29,733 35,000 18,660
		83,393

• 17 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

15 Loans and overdrafts

Bank loans Payable within one year Payable after one year Amounts included above which fall due after five years: Payable by instalments	2025 £ 375,524 33,988 341,536 221,850	2024 £ 410,346
		28,566 381,780
		280,156

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 to the value of the asset included in the accounts was 13%.

This loan is a commercial mortgage that is due to finish in July 2033. It is a flexible mortgage with variable monthly repayments. The current interest rate on this loan is 3.55% over base rate.

The second original loan value was £310,000. At the end of the year the percentage of loan outstanding to the value of the asset included in the accounts was 46%.

This loan is a commercial mortgage that is due to finish in June 2038. It is a fixed rate mortgage with fixed monthly payments for 10 years. The current interest rate is 4.92%.

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Notes Bank loans 15 Other taxation and social security Trade creditors Other creditors Accruals and deferred income	2025 £ 33,988 1,847 50,418 1,286 68,661 156,200	2024 £ 28,566 1,913 35,571 1,271 62,839
		130,160

The following liabilities disclosed under creditors falling due within one year are secured by the company:

Bank loans and overdrafts - £24,821 (2024: £18,504)

• 18 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

17 Creditors: amounts falling due after more than one year

		2025	2024
	Notes	£	£
Bank loans	15	341,536	381,780

The following liabilities disclosed under creditors falling due over one year are secured by the company:

Bank loans and overdrafts - £341,536 (2024: £372,675).

Included within creditors due over 1 year are amounts due on a commercial mortgage due to finish in July 2033, this is a flexible mortgage with variable rate monthly loan repayments and is secured on a property included within the accounts. The interest rate payable on this loan is base rate plus 3.55%.

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 property included within the accounts. The interest rate payable on this loan is 5.09%.

Included within creditors due after more than one year is an amount of £221,850 (2024: £280,156) in respect of liabilities repayable by instalments which fall due for payment after more than 5 years from the reporting date.

Loan interest of £23,943 (2024: £29,566) is included in the accounts.

18 Retirement benefit schemes

Retirement benefit schemes
	2025	2024
Defined contribution schemes	£	£
Charge to profit or loss in respect of defined contribution schemes	2,567	2,966

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At 1	Incoming	Resources	Transfers At 31 August	Transfers At 31 August
	September	resources	expended		2025
	2024
	£	£	£	£	£
Charities Fund	13,384	29,831	(23,823)	-	19,392
Tzedakah Fund	5,885	6,479	(3,761)	-	8,603
Youth Activity Fund	5,862	-	(350)	-	5,512
First Aid Fund	-	-	-	4,991	4,991
	25,131	36,310	(27,934)	4,991	38,498

• 19 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

19 Restricted funds Previous year: At 1 September 2023 Incoming resources Resources expended £ £ £ Charities Fund 7,490 17,894 (12,000) Tzedakah Fund 1,640 14,690 (10,445) Youth Activity Fund 5,862 - - 14,992 32,584 (22,445)	(Continued) Transfers At 31 August 2024 £ £ - 13,384 - 5,885 - 5,862 - 25,131

The Charities Fund is made up of donations received, collected and donated to other relevant charities. The Tzedekah Fund consists of donations received usually around High Holy days with donations then made to other relevant charities. The Youth Activity fund is used to organise events for children and young people in the congregation. The First Aid Fund is used to provide training.

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September 2024 Incoming resources Resources expended £ £ £ Decorations and repairs reserve 134,926 28,000 (5,074) Burial Fund reserve 474,666 31,501 (19,257) General funds 3,981,800 491,620 (490,006) 4,591,392 551,121 (514,337) Previous year: At 1 September 2023 Incoming resources Resources expended £ £ £ Decorations and repairs reserve 109,414 - (2,488) Burial Fund reserve 476,374 23,316 (25,024) General funds 4,012,002 488,120 (490,322) 4,597,790 511,436 (517,834)

Transfers At 31 August 2025 £ £ - 157,852 - 486,910 (4,992) 3,978,422 (4,992) 4,623,184 Transfers At 31 August 2024 £ £ 28,000 134,926 - 474,666 (28,000) 3,981,800 - 4,591,392

• 20 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 Analysis of net assets between funds

Unrestricted Restricted funds funds 2025 2025 £ £ At 31 August 2025: Tangible assets 4,969,864 - Current assets/(liabilities) (5,144) 38,498 Long term liabilities (341,536) - 4,623,184 38,498 Unrestricted Restricted funds funds 2024 2024 £ £ At 31 August 2024: Tangible assets 5,000,653 - Current assets/(liabilities) (27,481) 25,130 Long term liabilities (381,780) - 4,591,392 25,130	Total 2025 £ 4,969,864 33,354 (341,536)
	4,661,682
	Total 2024 £ 5,000,653 (2,351) (381,780)
	4,616,522

22 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year Between two and five years	2025 £ 872 872 1,744	2024 £ 678 678
		1,356

Lessor

During the year the company paid £1,622 (2024: £1,439) in lease payments included as an expense in the accounts.

• 21 -

SOUTH MANCHESTER SYNAGOGUE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

23 Related party transactions

During the year, remuneration of £6,690 (2024: £nil) was paid to an employee who is a close family member of one of the trustees. The individual was employed on normal commercial terms and conditions and was remunerated at a rate consistent with market rates for the role. At the year end, £nil (2024: £nil) was outstanding.

A loan of £35,000 was advanced to an employee during the period. The loan is interest-free, with no formal repayment schedule, and is repayable on demand at the Company’s discretion.

24	Cash generated from operations		2025	2024
			£	£
	Surplus for the year		45,160	3,741
	Adjustments for:
	Investment income recognised in statement of financial activities		(20,514)	(18,228)
	Depreciation and impairment of tangible fixed assets		33,707	35,348
	Movements in working capital:
	(Increase)/decrease in debtors		(3,994)	13,888
	Increase/(decrease) in creditors		20,618	(29,252)
	Cash generated from operations		74,977	5,497
25	Analysis of changes in net (debt)/funds
		At 1 September	Cash flows	At 31 August
		2024		2025
		£	£	£
	Cash at bank and in hand	44,416	57,751	102,167
	Loans falling due within one year	(28,566)	(5,422)	(33,988)
	Loans falling due after more than one year	(381,780)	40,244	(341,536)
		(365,930)	92,573	(273,357)

• 22 -